VIK Stock Analysis: Viking Holdings | NYSE
Travel Services | NYSE, USA | Market Cap: 37.969m USD | 12M Return: 34.3% | BMG93A5A1010 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 340M
Qual. Beats: 0
Rev. Trend: 99.5%
Qual. Beats: 3
Warnings
Tailwinds
No distinct edge detected
Seasonality 2.2 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 Bermuda-based passenger cruise operator that went public in May 2024 and reports under the Consumer Discretionary sector, specifically the Hotels, Resorts & Cruise Lines sub-industry. The company runs its business through two segments-River and Ocean-offering itineraries primarily to English-speaking passengers across North America, the United Kingdom, and other international markets. As of December 31, 2025, its fleet totaled 103 ships, comprising 89 river vessels (including the Longship class and charters such as the Viking Saigon, Viking Mississippi, and Viking Tonle), 12 ocean ships, and 2 expedition ships. The company was founded in 1997 and was previously named MISA Investments Limited before rebranding to Viking Holdings Ltd in November 2016.
River cruising is a relatively niche segment of the broader cruise industry, distinguishing operators like Viking from large ocean-line peers by focusing on smaller, destination-immersive itineraries along inland waterways. Vikings segment structure-River, Ocean, and Expedition-reflects a deliberate strategy of expanding beyond its original river-cruise foundation into adjacent cruise categories, including its Viking Asia offering which serves non-English-speaking markets.
- Ocean segment capacity expansion drives double-digit revenue growth
- Premium river cruise pricing holds amid consumer spending pressure
- New ship orderbook deploys capital for multi-year capacity buildout
| 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 September 20, 2026, the stock is trading at USD 84.15 with a total of 6,294,193 shares traded. Over the past week, the price has changed by -1.01%, over one month by -14.39%, over three months by -13.40% and over the past year by +34.25%.
Current recommended Stop Loss: 76.00 (which is 9.7% or 2.7 ATR below the current price).
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 | 110.8 | 31.7% |
P/E Trailing = 28.2425
P/E Forward = 18.1488
P/S = 5.4488
P/B = 23.3667
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 = 40.4b USD (38.0b + Debt 6.44b - CCE 3.99b)
Interest Coverage Ratio = 4.82 (Ebit TTM 1.69b / Interest Expense TTM 350.9m)
EV/FCF = 38.72x (Enterprise Value 40.4b / FCF TTM 1.04b)
FCF Yield = 2.58% (FCF TTM 1.04b / Enterprise Value 40.4b)
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 = 2.93 (Enterprise Value 40.4b / 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 = 9.81% (E(38.0b)/V(44.4b) * Re(10.57%) + D(6.44b)/V(44.4b) * Rd(5.45%) * (1-Tc(0.02)))
Discount Rate = 10.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.08 | Cagr: 36.65%
[DCF] Terminal Value 73.38% ; FCFF base≈937.9m ; Y1≈1.08b ; Y5≈1.58b
[DCF] Fair Price = 51.65 (EV 18.9b - Net Debt 2.46b = Equity 16.5b / Shares 318.9m; r=9.81% [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=-8.84% | Revisions=-81% | Analysts=13
EPS current Year (2026-12-31): EPS=3.26 | Chg30d=-1.71% | Revisions=-74% | GrowthEPS=+25.0% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=4.42 | Chg30d=+0.60% | Revisions=-32% | GrowthEPS=+35.4% | GrowthRev=+21.3%
[Analyst] Revisions Ratio: -69% (up=6, down=39)