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Viking Holdings Ltd

Viking Holdings Ltd

NYSE•VIK
CEO: Mr. Torstein Hagen
Sector: Consumer Cyclical
Industry: Travel Services
Listing Date: 2010-06-14
Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships. The company was founded in 1997 and is based in Pembroke, Bermuda.
Contact Information
94 Pitts Bay Road, Pembroke, HM 08, Bermuda
441-478-2244
www.viking.com
Market Cap
$25.31B
P/E (TTM)
30.7
19.7
Dividend Yield
--
52W High
$65.37
52W Low
$31.79
52W Range
75%
1.2
F-Score
Modified Piotroski Analysis
Based on 4-year fundamentals
Weak • 1.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2021-2024

Financial Dashboard

Q2 2025 Data

Revenue

$1.88B+18.47%
4-Quarter Trend

EPS

$0.99+167.57%
4-Quarter Trend

FCF

-$197.41M-190.69%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Revenue Growth and Profitability Total revenue $5.33 B USD, up 13.2% from $4.71 B USD in 2023. Operating income grew 31.7% to $1.075 B USD.
Return to Net Income Net income $153.0 M USD in 2024, reversing $1.85 B USD net loss reported in 2023. Adjusted EPS $0.36 USD diluted.
Strong Advance Bookings Visibility 2025 capacity 88% sold as of February 2025, showing $5.306 B USD in Advance Bookings, a 26% increase over prior year comparison.
Fleet Expansion Underway Operated 89 vessels in 2024, up from 84 in 2023. Committed orderbook projects 53.3% berth increase by 2030.

Risk Factors

Economic and Political Demand Risks Global economic climate, inflation, and ongoing conflicts like Russia-Ukraine could reduce discretionary cruise demand and increase operating costs.
Rising Operating Cost Pressures Increased costs for fuel, labor shortages, and inflation may raise operating expenses, potentially requiring price increases that reduce demand.
Substantial Debt Load Total Debt stands at $5.48 B USD as of December 31, 2024, restricting financial flexibility and increasing exposure to interest rate fluctuations.
Cybersecurity and Data Security Threats Reliance on IT systems exposes the company to evolving cybersecurity threats, potential breaches, and regulatory scrutiny regarding data protection compliance.

Outlook

Continued Fleet Capacity Growth Group expects 53.3% increase in total berths by 2030 based on committed orderbook, supporting future revenue growth potential.
International Market Expansion Strategy includes increasing guests from outside North America and continuing expansion efforts in the Asia Outbound market segment.
Focus on Core Demographic Maintain focus on affluent travelers aged 55+ with destination-focused, luxury experiences, leveraging strong brand loyalty and repeat bookings.
Environmental Fleet Investment Investing in next-generation ocean ships with partial hybrid propulsion systems based on liquid hydrogen and fuel cells for zero-emission operation.

Peer Comparison

Revenue (TTM)

Stellantis N.V.STLA
$349.65B
+5.3%
Lennar CorporationLEN
$34.77B
-4.7%
PulteGroup, Inc.PHM
$17.62B
+1.8%

Gross Margin (Latest Quarter)

Expedia Group, Inc.EXPE
90.0%
+0.2 pp
Rollins, Inc.ROL
54.4%
+0.5 pp
Restaurant Brands International Inc.QSR
48.4%
+13.6 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
LEN$31.02B11.611.2%10.1%
ROL$28.89B56.036.4%28.3%
STLA$28.37B2.926.3%20.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+3.9%
Moderate Growth
4Q Net Income CAGR
+5.4%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 11, 2025|
    Revenue: $5.33B+13.2%
    |
    EPS: $0.36+108.4%
    Meet