VIK Stock Analysis: Viking Holdings | NYSE
Travel Services | NYSE, USA | Market Cap: 37.259m USD | 12M Return: 38.2% | BMG93A5A1010 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 313M
Qual. Beats: 0
Rev. Trend: 99.5%
Qual. Beats: 3
Warnings
Tailwinds
No distinct edge detected
Seasonality 2.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Viking Holdings Ltd (NYSE: VIK) is a passenger cruise operator active in North America, the United Kingdom, and other international markets. The company runs two main segments-River and Ocean-along with expedition, Mississippi River, and Viking Asia (non-English) offerings, all primarily targeting English-speaking guests.
As of December 31, 2025, Viking operated a fleet of 103 ships, made up of 89 river vessels (including 59 Longships, smaller Longship-class vessels, other river vessels, and three river charters), 12 ocean ships, and 2 expedition ships. The company was founded in 1997, is headquartered in Pembroke, Bermuda, and was formerly known as MISA Investments Limited before adopting its current name in November 2016.
The cruise industry is capital-intensive and cyclical, with high fixed costs tied to vessel construction, fuel, and onboard operations, and demand that tends to track discretionary consumer spending. Vikings language-segmented product model-separating English and non-English itineraries-reflects a strategy commonly used by premium and luxury cruise operators to differentiate the guest experience and justify higher pricing.
- Strong ocean segment occupancy drives revenue growth
- River cruise expansion in Europe fuels itinerary demand
- Luxury travel demand remains resilient among affluent consumers
- Currency fluctuations impact international booking trends
| Net Income: 1.35b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.57 > 1.0 |
| NWC/Revenue: -16.92% < 20% (prev -33.51%; Δ 16.59% < -1%) |
| CFO/TA 0.18 > 3% & CFO 2.52b > Net Income 1.35b |
| Net Debt (2.46b) to EBITDA (2.00b): 1.23 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (448.1m) vs 12m ago 0.57% < -2% |
| Gross Margin: 38.76% > 18% (prev 37.76%; Δ 1.00% > 0.5%) |
| Asset Turnover: 55.96% > 50% (prev 52.22%; Δ 3.74% > 0%) |
| Interest Coverage Ratio: 4.82 > 6 (EBIT TTM 1.69b / Interest Expense TTM 350.9m) |
| A: -0.09 (Total Current Assets 4.91b - Total Current Liabilities 6.09b) / Total Assets 13.8b |
| B: -0.26 (Retained Earnings -3.63b / Total Assets 13.8b) |
| C: 0.14 (EBIT TTM 1.69b / Avg Total Assets 12.5b) |
| D: 0.14 (Book Value of Equity 1.65b / Total Liabilities 12.1b) |
| Altman-Z'' = -0.36 = B |
| DSRI: 0.72 (Receivables 147.5m/171.3m, Revenue 6.97b/5.81b) |
| GMI: 0.97 (GM 37.76% / 38.76%) |
| AQI: 0.50 (AQ_t 0.01 / AQ_t-1 0.03) |
| SGI: 1.20 (Revenue 6.97b / 5.81b) |
| TATA: -0.09 (NI 1.35b - CFO 2.52b) / TA 13.8b) |
| Beneish M = -3.45 (Cap -4..+1) = AA |
As of October 20, 2026, the stock is trading at USD 84.04 with a total of 3,735,905 shares traded. Over the past week, the price has changed by +4.05%, over one month by -2.34%, over three months by -13.27% and over the past year by +38.20%.
Current recommended Stop Loss: 80.50 (which is 4.2% or 1.4 ATR below the current price).
Viking Holdings has received a consensus analysts rating of 4.61. Therefore, it is recommended to buy VIK.
- StrongBuy: 18
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 109.4 | 30.2% |
P/E Trailing = 27.7143
P/E Forward = 17.1527
P/S = 5.3469
P/B = 22.0721
Revenue TTM = 6.97b USD
EBIT TTM = 1.69b USD
EBITDA TTM = 2.00b USD
Long Term Debt = 5.74b USD (from longTermDebt, last quarter)
Short Term Debt = 235.1m USD (from shortTermDebt, last quarter)
Debt = 6.44b USD (from shortLongTermDebtTotal, last quarter) + Leases 248.2m
Net Debt = 2.46b USD (calculated: Debt 6.44b - CCE 3.99b)
Enterprise Value = 39.7b USD (37.3b + Debt 6.44b - CCE 3.99b)
Interest Coverage Ratio = 4.82 (Ebit TTM 1.69b / Interest Expense TTM 350.9m)
EV/FCF = 38.04x (Enterprise Value 39.7b / FCF TTM 1.04b)
FCF Yield = 2.63% (FCF TTM 1.04b / Enterprise Value 39.7b)
FCF Margin = 14.98% (FCF TTM 1.04b / Revenue TTM 6.97b)
Net Margin = 19.33% (Net Income TTM 1.35b / Revenue TTM 6.97b)
Gross Margin = 38.76% ((Revenue TTM 6.97b - Cost of Revenue TTM 4.27b) / Revenue TTM)
Gross Margin QoQ = 41.66% (prev 26.98%)
Tobins Q-Ratio = 2.88 (Enterprise Value 39.7b / Total Assets 13.8b)
Interest Expense / Debt = 5.45% (Interest Expense 350.9m / Debt 6.44b)
Taxrate = 1.73% (23.8m / 1.37b)
NOPAT = 1.66b (EBIT 1.69b * (1 - 1.73%))
Current Ratio = 0.81 (Total Current Assets 4.91b / Total Current Liabilities 6.09b)
Debt / Equity = 3.90 (Debt 6.44b / totalStockholderEquity, last quarter 1.65b)
Debt / EBITDA = 1.23 (Net Debt 2.46b / EBITDA 2.00b)
Debt / FCF = 2.35 (Net Debt 2.46b / FCF TTM 1.04b)
Total Stockholder Equity = 1.15b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.82% (Net Income 1.35b / Total Assets 13.8b)
RoE = 117.5% (Net Income TTM 1.35b / Total Stockholder Equity 1.15b)
RoCE = 24.54% (EBIT 1.69b / Capital Employed (Equity 1.15b + L.T.Debt 5.74b))
RoIC = 21.91% (NOPAT 1.66b / Invested Capital 7.58b)
WACC = 9.15% (E(37.3b)/V(43.7b) * Re(9.81%) + D(6.44b)/V(43.7b) * Rd(5.45%) * (1-Tc(0.02)))
Discount Rate = 9.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.08 | Cagr: 36.65%
[DCF] Terminal Value 75.41% ; FCFF base≈937.9m ; Y1≈1.08b ; Y5≈1.58b
[DCF] Fair Price = 57.73 (EV 20.9b - Net Debt 2.46b = Equity 18.4b / Shares 318.9m; r=9.15% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.65 | # QB: 0
Revenue Correlation: 99.47 | Revenue CAGR: 17.65% | SUE: 1.55 | # QB: 3
EPS current Quarter (2026-09-30): EPS=1.27 | Chg30d=-0.11% | Revisions=-40% | Analysts=15
EPS current Year (2026-12-31): EPS=3.23 | Chg30d=-1.02% | Revisions=-62% | GrowthEPS=+23.6% | GrowthRev=+13.4%
EPS next Year (2027-12-31): EPS=4.37 | Chg30d=-1.18% | Revisions=-12% | GrowthEPS=+35.3% | GrowthRev=+21.1%
[Analyst] Revisions Ratio: -53% (up=2, down=10)