Overview Dividends

(VIK) Viking Holdings - Ratings and Ratios

Exchange: NYSE • Country: Bermuda • Currency: USD • Type: Common Stock • ISIN: BMG93A5A1010

River Vessels, Ocean Ships, Expedition Ships

VIK EPS (Earnings per Share)

EPS Growth (3Y CAGR): -27.31%
EPS Trend (3Y Correlation): -9.9%

VIK Revenue

Revenue Growth (3Y CAGR): 35.42%
Revenue Trend (3Y Correlation): 45.4%

Description: VIK Viking Holdings October 14, 2025

Viking Holdings Ltd (NYSE: VIK) is a Bermuda-incorporated operator of passenger-focused transportation services, primarily river cruises and ocean voyages, across North America, the United Kingdom, and other international markets. The business is organized into two segments-River and Ocean-and also runs a tourism-related tour-entrepreneur division.

As of 31 December 2023 the company owned a fleet of 96 vessels: 83 river ships (including 58 “Longships,” 10 smaller Longship-derived classes, 13 other river vessels, and 2 chartered river ships-the Viking Saigon and Viking Mississippi) and 13 ocean-focused ships (11 ocean-cruise ships and 2 expedition vessels).

In fiscal 2023 Viking generated approximately $2.5 billion in revenue with an adjusted EBITDA margin near 20 %, driven largely by a 9 % YoY increase in average passenger yield (≈ $210 per cruise night) and a 95 % occupancy rate on its flagship Longship fleet. The company’s cash flow conversion remained strong, delivering about $600 million of free cash flow, which funded a $150 million capital-expenditure program focused on new ship construction and retrofits.

Key macro-drivers for Viking’s market include rising discretionary spending in the U.S. and Europe, a rebound in international tourism post-COVID-19, and volatile fuel prices that affect operating margins. The cruise sector’s shift toward “experience-rich” river itineraries-often priced at a premium to traditional ocean cruises-has been a notable growth catalyst, while regulatory scrutiny on emissions (IMO 2025 carbon limits) is prompting fleet modernization investments.

For a deeper, data-driven look at Viking’s valuation dynamics and scenario analysis, you may find the research tools on ValueRay worth exploring.

VIK Stock Overview

Market Cap in USD	26,778m
Sub-Industry	Hotels, Resorts & Cruise Lines
IPO / Inception	2024-05-01

VIK Stock Ratings

Growth Rating	88.0%
Fundamental	65.1%
Dividend Rating	-
Return 12m vs S&P 500	18.5%
Analyst Rating	4.22 of 5

VIK Dividends

Currently no dividends paid

VIK Growth Ratios

Growth Correlation 3m	-32.2%
Growth Correlation 12m	70.9%
Growth Correlation 5y	90.3%
CAGR 5y	70.09%
CAGR/Max DD 3y (Calmar Ratio)	1.98
CAGR/Mean DD 3y (Pain Ratio)	10.35
Sharpe Ratio 12m	1.22
Alpha	16.25
Beta
Volatility	40.94%
Current Volume	3016.6k
Average Volume 20d	1737.7k
Stop Loss	56.6 (-3.1%)
Signal	-1.14

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (824.5m TTM) > 0 and > 6% of Revenue (6% = 348.4m TTM)

FCFTA 0.07 (>2.0%) and ΔFCFTA -2.70pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -33.51% (prev -52.31%; Δ 18.80pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.20 (>3.0%) and CFO 2.26b > Net Income 824.5m (YES >=105%, WARN >=100%)

Net Debt (3.21b) to EBITDA (1.44b) ratio: 2.23 <= 3.0 (WARN <= 3.5)

Current Ratio 0.64 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (445.5m) change vs 12m ago 21.34% (target <= -2.0% for YES)

Gross Margin 42.36% (prev 36.86%; Δ 5.50pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 57.77% (prev 54.91%; Δ 2.86pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.37 (EBITDA TTM 1.44b / Interest Expense TTM 347.1m) >= 6 (WARN >= 3)

Altman Z'' -2.29

(A) -0.18 = (Total Current Assets 3.46b - Total Current Liabilities 5.41b) / Total Assets 11.12b

(B) -0.45 = Retained Earnings (Balance) -4.96b / Total Assets 11.12b

(D) -0.45 = Book Value of Equity -4.87b / Total Liabilities 10.84b

Total Rating: -2.29 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 65.11

1. Piotroski 5.50pt = 0.50

2. FCF Yield 2.60% = 1.30

3. FCF Margin 13.41% = 3.35

4. Debt/Equity 20.57 = -2.50

5. Debt/Ebitda 2.23 = -0.46

6. ROIC - WACC (= 11.93)% = 12.50

7. RoE -328.5% = -2.50

8. Rev. Trend 45.44% = 3.41

9. EPS Trend -9.94% = -0.50

What is the price of VIK shares?

As of November 08, 2025, the stock is trading at USD 58.39 with a total of 3,016,629 shares traded.
Over the past week, the price has changed by -4.04%, over one month by -1.87%, over three months by +2.51% and over the past year by +35.10%.

Is Viking Holdings a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Viking Holdings (NYSE:VIK) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 65.11 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of VIK is around 62.25 USD . This means that VIK is currently overvalued and has a potential downside of 6.61%.

Is VIK a buy, sell or hold?

Viking Holdings has received a consensus analysts rating of 4.22. Therefore, it is recommended to buy VIK.

Strong Buy: 9
Buy: 4
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the VIK price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	66.7	14.3%
Analysts Target Price	66.7	14.3%
ValueRay Target Price	70.3	20.4%

VIK Fundamental Data Overview October 27, 2025

Market Cap USD = 26.78b (26.78b USD * 1.0 USD.USD)
P/E Trailing = 31.9524
P/E Forward = 18.6567
P/S = 4.6122
P/B = 98.3618
Beta = None
Revenue TTM = 5.81b USD
EBIT TTM = 1.17b USD
EBITDA TTM = 1.44b USD
Long Term Debt = 5.19b USD (from longTermDebt, last quarter)
Short Term Debt = 278.5m USD (from shortTermDebt, last quarter)
Debt = 5.66b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.21b USD (from netDebt column, last quarter)
Enterprise Value = 29.99b USD (26.78b + Debt 5.66b - CCE 2.44b)
Interest Coverage Ratio = 3.37 (Ebit TTM 1.17b / Interest Expense TTM 347.1m)
FCF Yield = 2.60% (FCF TTM 778.8m / Enterprise Value 29.99b)
FCF Margin = 13.41% (FCF TTM 778.8m / Revenue TTM 5.81b)
Net Margin = 14.20% (Net Income TTM 824.5m / Revenue TTM 5.81b)
Gross Margin = 42.36% ((Revenue TTM 5.81b - Cost of Revenue TTM 3.35b) / Revenue TTM)
Gross Margin QoQ = 45.70% (prev 33.82%)
Tobins Q-Ratio = 2.70 (Enterprise Value 29.99b / Total Assets 11.12b)
Interest Expense / Debt = 1.48% (Interest Expense 84.0m / Debt 5.66b)
Taxrate = 1.04% (4.60m / 443.8m)
NOPAT = 1.16b (EBIT 1.17b * (1 - 1.04%))
Current Ratio = 0.64 (Total Current Assets 3.46b / Total Current Liabilities 5.41b)
Debt / Equity = 20.57 (Debt 5.66b / totalStockholderEquity, last quarter 275.1m)
Debt / EBITDA = 2.23 (Net Debt 3.21b / EBITDA 1.44b)
Debt / FCF = 4.13 (Net Debt 3.21b / FCF TTM 778.8m)
Total Stockholder Equity = -250.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.42% (Net Income 824.5m / Total Assets 11.12b)
RoE = -328.5% (negative equity) (Net Income TTM 824.5m / Total Stockholder Equity -250.9m)
RoCE = 23.69% (EBIT 1.17b / Capital Employed (Equity -250.9m + L.T.Debt 5.19b))
RoIC = 21.84% (NOPAT 1.16b / Invested Capital 5.30b)
WACC = 9.91% (E(26.78b)/V(32.44b) * Re(11.69%) + D(5.66b)/V(32.44b) * Rd(1.48%) * (1-Tc(0.01)))
Discount Rate = 11.69% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.62%
[DCF Debug] Terminal Value 70.50% ; FCFE base≈816.0m ; Y1≈1.01b ; Y5≈1.72b
Fair Price DCF = 52.63 (DCF Value 16.61b / Shares Outstanding 315.6m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: -9.94 | EPS CAGR: -27.31% | SUE: -3.18 | # QB: 0
Revenue Correlation: 45.44 | Revenue CAGR: 35.42% | SUE: N/A | # QB: 0

Additional Sources for VIK Stock

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