(VIK) Viking Holdings - Overview
Sector: Consumer Cyclical | Industry: Travel Services | Exchange: NYSE (USA) | Market Cap: 38.396m USD | Total Return: 95.1% in 12m
Avg Turnover: 261M
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 2
Warnings
Altman Z'' -1.24 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Viking Holdings Ltd (NYSE: VIK) operates a global fleet of 103 vessels specializing in destination-focused travel for English-speaking passengers. The company segments its business into River, Ocean, and Expedition cruises, with a significant concentration in European river travel via its proprietary Longship design. Founded in 1997, the firm has expanded its footprint to include the Mississippi River and specialized Asian itineraries.
The cruise industry typically operates on a high-capital-expenditure model where profitability is driven by high occupancy rates and advanced booking curves. Viking distinguishes itself by targeting the luxury demographic, a segment that historically shows greater resilience to macroeconomic fluctuations compared to mass-market cruise lines.
For a deeper dive into financial health and valuation metrics, consider reviewing the data on ValueRay.
As of late 2025, the fleet composition includes 89 river vessels, 12 ocean ships, and two expedition ships. The company’s strategic focus on small-ship cruising allows access to ports that larger vessels cannot reach, reinforcing its premium market positioning.
- High occupancy rates and premium pricing in English-speaking river cruise segments
- Strategic fleet expansion of ocean and expedition vessels drives long-term capacity
- Interest rate fluctuations impact financing costs for capital-intensive shipbuilding programs
- Geopolitical instability in European river regions threatens passenger demand and itineraries
- Consumer discretionary spending trends influence high-end luxury cruise booking volumes
| Net Income: 1.20b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -1.77 > 1.0 |
| NWC/Revenue: -21.40% < 20% (prev -39.74%; Δ 18.33% < -1%) |
| CFO/TA 0.20 > 3% & CFO 2.65b > Net Income 1.20b |
| Net Debt (1.81b) to EBITDA (1.81b): 1.00 < 3 |
| Current Ratio: 0.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (445.9m) vs 12m ago 0.67% < -2% |
| Gross Margin: 38.79% > 18% (prev 0.37%; Δ 3.84k% > 0.5%) |
| Asset Turnover: 55.71% > 50% (prev 51.50%; Δ 4.20% > 0%) |
| Interest Coverage Ratio: 4.32 > 6 (EBITDA TTM 1.81b / Interest Expense TTM 352.7m) |
| A: -0.11 (Total Current Assets 5.01b - Total Current Liabilities 6.44b) / Total Assets 13.2b |
| B: -0.32 (Retained Earnings -4.16b / Total Assets 13.2b) |
| C: 0.13 (EBIT TTM 1.52b / Avg Total Assets 12.0b) |
| D: -0.34 (Book Value of Equity -4.16b / Total Liabilities 12.1b) |
| Altman-Z'' = -1.24 = CCC |
| DSRI: 0.55 (Receivables 154.7m/232.2m, Revenue 6.66b/5.51b) |
| GMI: 0.96 (GM 38.79% / 37.12%) |
| AQI: 0.79 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 1.21 (Revenue 6.66b / 5.51b) |
| TATA: -0.11 (NI 1.20b - CFO 2.65b) / TA 13.2b) |
| Beneish M = -3.52 (Cap -4..+1) = AAA |
As of May 23, 2026, the stock is trading at USD 83.90 with a total of 4,182,543 shares traded.
Over the past week, the price has changed by +0.63%,
over one month by +5.27%,
over three months by +10.19% and
over the past year by +95.11%.
Viking Holdings has received a consensus analysts rating of 4.22. Therefore, it is recommended to buy VIK.
- StrongBuy: 9
- Buy: 4
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 92.1 | 9.7% |
P/E Forward = 22.2222
P/S = 5.7668
P/B = 36.9475
Revenue TTM = 6.66b USD
EBIT TTM = 1.52b USD
EBITDA TTM = 1.81b USD
Long Term Debt = 5.42b USD (from longTermDebt, last quarter)
Short Term Debt = 204.9m USD (from shortTermDebt, last quarter)
Debt = 5.86b USD (corrected: LT Debt 5.42b + ST Debt 204.9m) + Leases 233.5m
Net Debt = 1.81b USD (calculated: Debt 5.86b - CCE 4.05b)
Enterprise Value = 40.2b USD (38.4b + Debt 5.86b - CCE 4.05b)
Interest Coverage Ratio = 4.32 (Ebit TTM 1.52b / Interest Expense TTM 352.7m)
EV/FCF = 32.47x (Enterprise Value 40.2b / FCF TTM 1.24b)
FCF Yield = 3.08% (FCF TTM 1.24b / Enterprise Value 40.2b)
FCF Margin = 18.60% (FCF TTM 1.24b / Revenue TTM 6.66b)
Net Margin = 18.00% (Net Income TTM 1.20b / Revenue TTM 6.66b)
Gross Margin = 38.79% ((Revenue TTM 6.66b - Cost of Revenue TTM 4.08b) / Revenue TTM)
Gross Margin QoQ = 26.98% (prev 36.69%)
Tobins Q-Ratio = 3.05 (Enterprise Value 40.2b / Total Assets 13.2b)
Interest Expense / Debt = 6.02% (Interest Expense 352.7m / Debt 5.86b)
Taxrate = 1.68% (19.7m / 1.17b)
NOPAT = 1.50b (EBIT 1.52b * (1 - 1.68%))
Current Ratio = 0.78 (Total Current Assets 5.01b / Total Current Liabilities 6.44b)
Debt / Equity = 5.49 (Debt 5.86b / totalStockholderEquity, last quarter 1.07b)
Debt / EBITDA = 1.00 (Net Debt 1.81b / EBITDA 1.81b)
Debt / FCF = 1.46 (Net Debt 1.81b / FCF TTM 1.24b)
Total Stockholder Equity = 815.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.03% (Net Income 1.20b / Total Assets 13.2b)
RoE = 146.9% (Net Income TTM 1.20b / Total Stockholder Equity 815.9m)
RoCE = 24.43% (EBIT 1.52b / Capital Employed (Equity 815.9m + L.T.Debt 5.42b))
RoIC = 21.48% (NOPAT 1.50b / Invested Capital 6.97b)
WACC = 10.38% (E(38.4b)/V(44.3b) * Re(11.06%) + D(5.86b)/V(44.3b) * Rd(6.02%) * (1-Tc(0.02)))
Discount Rate = 11.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 1.47%
[DCF] Terminal Value 69.23% ; FCFF base≈1.22b ; Y1≈1.26b ; Y5≈1.42b
[DCF] Fair Price = 45.52 (EV 16.3b - Net Debt 1.81b = Equity 14.5b / Shares 318.4m; r=10.38% [WACC]; 5y FCF grow 3.71% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.01 | # QB: 0
Revenue Correlation: 99.14 | Revenue CAGR: 17.48% | SUE: 1.13 | # QB: 2
EPS current Quarter (2026-06-30): EPS=1.24 | Chg30d=+1.08% | Revisions=+11% | Analysts=12
EPS next Quarter (2026-09-30): EPS=1.40 | Chg30d=-0.57% | Revisions=-33% | Analysts=12
EPS current Year (2026-12-31): EPS=3.32 | Chg30d=-0.40% | Revisions=-33% | GrowthEPS=+27.3% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=4.31 | Chg30d=+3.53% | Revisions=+50% | GrowthEPS=+29.6% | GrowthRev=+18.6%
[Analyst] Revisions Ratio: +50%