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

$32.02B

P/E (TTM)

27.9

22.7

Dividend Yield

52W High

$81.48

52W Low

$31.79

52W Range

81%

Rank59Top 87.6%

2.2

F-Score

Modified Piotroski Analysis

Based on 4-year fundamentals

Weak • 2.2 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2022-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.72B+0.00%

4-Quarter Trend

EPS

$0.68+0.00%

4-Quarter Trend

FCF

$674.60M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Annual Revenue Growth Total revenue 6.5B USD, up 21.9% from 5.3B USD in 2024, driven by increased capacity and higher occupancy levels.

Significant Net Income Growth Net income 1.1B USD, up from 153M USD in 2024, reflecting improved operating performance and reduced non-cash derivative losses.

Adjusted EBITDA Surge Adjusted EBITDA 1.9B USD, up 38.8% from 1.3B USD in 2024, demonstrating strong operational efficiency and scale across segments.

Robust Cash Position Cash and cash equivalents 3.8B USD as of December 31, 2025, providing liquidity for ongoing operations and future fleet expansion.

Risk Factors

Substantial Debt Burden Total debt 5.7B USD as of December 31, 2025, potentially restricting operational flexibility and requiring significant cash for debt service.

Geopolitical Conflict Risks Ongoing Russia-Ukraine and Middle East conflicts disrupt itineraries, reduce demand, and increase operational costs in affected regions globally.

Inflationary Cost Pressures Rising labor, fuel, and supply chain costs may increase operating expenses and negatively impact margins if inflationary pressures remain elevated.

Cybersecurity Threat Exposure Potential data breaches or system disruptions could lead to regulatory penalties, reputational damage, and significant costs for remediation efforts.

Outlook

Fleet Expansion Strategy Committed orderbook for 17 river vessels and 10 ocean ships, targeting 54.7% increase in total berths by 2031.

Asia Market Growth Expanding Asia Outbound with river and ocean itineraries, leveraging new accommodation agreements to capture non-English speaking guest demand.

Sustainable Fleet Investment Investing in partial hybrid propulsion systems for Viking Libra and Viking Astrea to achieve zero-emission in sensitive environmental areas.

Peer Comparison

Revenue (TTM)

STLA

$343.12B

-15.8%

LEN

$34.13B

-3.8%

PHM

$17.31B

-3.5%

Gross Margin (Latest Quarter)

EXPE

84.0%

+1.0pp

QSR

47.5%

+13.6pp

ROL

47.5%

+0.5pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
VIK	$32.02B	27.9	237.9%	46.9%
EXPE	$29.43B	23.9	114.3%	27.3%
ULTA	$29.31B	24.6	46.9%	36.7%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

24.3%

Strong Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Mar 10, 2026

EPS:$0.54

Revenue:$1.63B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data