(VIK) Viking Holdings - Ratings and Ratios
River Vessels, Ocean Ships, Expedition Ships
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 34.9% |
| Value at Risk 5%th | 57.8% |
| Relative Tail Risk | 0.62% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.95 |
| Alpha | 24.12 |
| CAGR/Max DD | 2.31 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.431 |
| Beta | 1.518 |
| Beta Downside | 1.519 |
| Drawdowns 3y | |
|---|---|
| Max DD | 35.39% |
| Mean DD | 6.75% |
| Median DD | 4.38% |
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.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income (963.5m TTM) > 0 and > 6% of Revenue (6% = 367.6m TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA -6.63pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -36.85% (prev -44.66%; Δ 7.81pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.18 (>3.0%) and CFO 2.09b > Net Income 963.5m (YES >=105%, WARN >=100%) |
| Net Debt (2.61b) to EBITDA (1.58b) ratio: 1.65 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.63 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (443.4m) change vs 12m ago 1.81% (target <= -2.0% for YES) |
| Gross Margin 42.95% (prev 37.70%; Δ 5.25pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 58.15% (prev 53.45%; Δ 4.70pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 5.08 (EBITDA TTM 1.58b / Interest Expense TTM 257.1m) >= 6 (WARN >= 3) |
Altman Z'' -1.87
| (A) -0.20 = (Total Current Assets 3.85b - Total Current Liabilities 6.11b) / Total Assets 11.52b |
| (B) -0.46 = Retained Earnings (Balance) -5.29b / Total Assets 11.52b |
| (C) 0.12 = EBIT TTM 1.30b / Avg Total Assets 10.54b |
| (D) 0.07 = Book Value of Equity 803.5m / Total Liabilities 10.72b |
| Total Rating: -1.87 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 73.95
| 1. Piotroski 5.50pt |
| 2. FCF Yield 2.25% |
| 3. FCF Margin 11.00% |
| 4. Debt/Equity 7.03 |
| 5. Debt/Ebitda 1.65 |
| 6. ROIC - WACC (= 14.06)% |
| 7. RoE 659.1% |
| 8. Rev. Trend 55.75% |
| 9. EPS Trend 44.07% |
What is the price of VIK shares?
Over the past week, the price has changed by +4.65%, over one month by +13.76%, over three months by +4.72% and over the past year by +43.77%.
Is VIK a buy, sell or hold?
- 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 | 67.9 | 1.7% |
| Analysts Target Price | 67.9 | 1.7% |
| ValueRay Target Price | 83.7 | 25.4% |
VIK Fundamental Data Overview November 21, 2025
P/E Trailing = 28.7383
P/E Forward = 18.6916
P/S = 4.4529
P/B = 33.9239
Beta = None
Revenue TTM = 6.13b USD
EBIT TTM = 1.30b USD
EBITDA TTM = 1.58b USD
Long Term Debt = 4.87b USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.09b USD (from shortTermDebt, last quarter)
Debt = 5.65b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.61b USD (from netDebt column, last quarter)
Enterprise Value = 29.89b USD (27.28b + Debt 5.65b - CCE 3.04b)
Interest Coverage Ratio = 5.08 (Ebit TTM 1.30b / Interest Expense TTM 257.1m)
FCF Yield = 2.25% (FCF TTM 673.7m / Enterprise Value 29.89b)
FCF Margin = 11.00% (FCF TTM 673.7m / Revenue TTM 6.13b)
Net Margin = 15.73% (Net Income TTM 963.5m / Revenue TTM 6.13b)
Gross Margin = 42.95% ((Revenue TTM 6.13b - Cost of Revenue TTM 3.50b) / Revenue TTM)
Gross Margin QoQ = 47.08% (prev 45.70%)
Tobins Q-Ratio = 2.59 (Enterprise Value 29.89b / Total Assets 11.52b)
Interest Expense / Debt = 1.49% (Interest Expense 84.0m / Debt 5.65b)
Taxrate = 1.33% (6.91m / 520.9m)
NOPAT = 1.29b (EBIT 1.30b * (1 - 1.33%))
Current Ratio = 0.63 (Total Current Assets 3.85b / Total Current Liabilities 6.11b)
Debt / Equity = 7.03 (Debt 5.65b / totalStockholderEquity, last quarter 803.5m)
Debt / EBITDA = 1.65 (Net Debt 2.61b / EBITDA 1.58b)
Debt / FCF = 3.87 (Net Debt 2.61b / FCF TTM 673.7m)
Total Stockholder Equity = 146.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.36% (Net Income 963.5m / Total Assets 11.52b)
RoE = 659.1% (Net Income TTM 963.5m / Total Stockholder Equity 146.2m)
RoCE = 26.03% (EBIT 1.30b / Capital Employed (Equity 146.2m + L.T.Debt 4.87b))
RoIC = 23.93% (NOPAT 1.29b / Invested Capital 5.38b)
WACC = 9.87% (E(27.28b)/V(32.93b) * Re(11.61%) + D(5.65b)/V(32.93b) * Rd(1.49%) * (1-Tc(0.01)))
Discount Rate = 11.61% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.38%
[DCF Debug] Terminal Value 70.72% ; FCFE base≈880.7m ; Y1≈1.09b ; Y5≈1.85b
Fair Price DCF = 57.32 (DCF Value 18.10b / Shares Outstanding 315.8m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 44.07 | EPS CAGR: 268.0% | SUE: 0.79 | # QB: 0
Revenue Correlation: 55.75 | Revenue CAGR: 34.72% | SUE: 0.37 | # QB: 0
Additional Sources for VIK Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle