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Friday 6 November 2026
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Viking Holdings Ltd.
VIK Consumer Cyclical Travel Services
Viking Holdings Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $6.5 billion, up 21.9% from fiscal 2024.
- Revenue
- +16.5%
- EPS
- +33.3%
- Free cash flow
- −75.6%
- Total debt
- +9.47%
Quarter to June 2026, against a year earlier
86.53
4.64
−5.09%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 3,176 | 4,710 | 5,334 | 6,501 | 6,968 | +27.0% | 7,363 | 8,922 | 10,132 | +15.9% | |
| Gross margin, % | — | — | — | — | — | — | 32.23 | 39.46 | 41.62 | 43.34 | 43.21 | +11.1 pt | ||||||
| EBT | — | — | — | — | — | — | 407 | (1,843) | 170 | 1,168 | 1,372 | +42.0% | ||||||
| EBT margin, % | — | — | — | — | — | — | 12.83 | (39.14) | 3.18 | 17.96 | 19.68 | +5.1 pt | ||||||
| Net income | — | — | — | — | — | — | 399 | (1,850) | 153 | 1,148 | 1,348 | +42.3% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 14.31 | 21.22 | 14.65 | 14.66 | 15.61 | +0.8% | |||||
| Earnings | — | — | — | — | — | — | 1.11 | (8.34) | 0.36 | 2.59 | 3.03 | +32.6% | ||||||
| Cash flow | — | — | — | — | — | — | 1.68 | 6.18 | 5.72 | 5.77 | 5.90 | +50.9% | ||||||
| Capex | — | — | — | — | — | — | (4.30) | (3.04) | (2.52) | (2.32) | (3.31) | (18.7%) | ||||||
| Free cash flow | — | — | — | — | — | — | (2.62) | 3.14 | 3.20 | 3.46 | 2.58 | n/m | ||||||
| Book value | — | — | — | — | — | — | (15.74) | (23.74) | (0.60) | 2.53 | 3.70 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 222 | 222 | 364 | 443 | 445 | +26.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 27.68 | 28.56 | 6.9 | |||||
| P/S | — | — | — | — | — | — | 1.21 | 1.21 | 3.01 | 4.87 | 5.54 | 2.6 | ||||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 28.24 | 23.38 | 7.1 | ||||||
| EV/Sales | — | — | — | — | — | — | 1.99 | 1.99 | 3.58 | 5.17 | 5.86 | 3.2 | ||||||
| EV/FCF | — | — | — | — | — | — | 9.89 | 9.89 | 16.39 | 21.90 | 35.36 | 14.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | 373 | 1,371 | 2,082 | 2,560 | 2,633 | +90.1% | |||||
| Capex | — | — | — | — | — | — | (955) | (674) | (917) | (1,027) | (1,479) | +2.5% | ||||||
| Free cash flow | — | — | — | — | — | — | (582) | 697 | 1,165 | 1,533 | 1,154 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | (1,936) | (2,011) | (2,004) | (1,214) | (1,179) | (14.4%) | |||||
| Net debt | — | — | — | — | — | — | 4,175 | 4,011 | 3,054 | 1,910 | 2,178 | (22.9%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | (3,493) | (5,269) | (219) | 1,121 | 1,652 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (11.94) | 1.41 | 10.27 | 10.82 | +10.3 pt | |||||
| ROIC | — | — | — | — | — | — | 5.89 | 0.00 | 23.70 | 30.95 | 26.45 | +25.1 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 22.39 | (4.80) | 254.35 | 194.53 | +254.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 9,500 | 12,000 | 13,000 | — | +17.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.50 | 0.44 | 0.50 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Viking Holdings Ltd. vs peers in Travel Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BKNG Booking Holdings Inc. | $125.5B | 18.0× | 14.1× | −1.28% (below 0%: shrinking) | +6.73% (above 0%: growing) | −22.03% (below 0%: shrinking) | 100.00% | 38.43% | Compare |
| ABNB Airbnb, Inc. | $101.9B | 31.5× | 30.9× | +18.90% (above 0%: growing) | +42.67% (above 0%: growing) | +11.21% (above 0%: growing) | 86.63% | 41.51% | Compare |
| RCL Royal Caribbean Cruises Ltd. | $86.3B | 19.0× | 17.4× | +8.80% (above 0%: growing) | +11.57% (above 0%: growing) | +194.74% (above 0%: growing) | 51.49% | 33.45% | Compare |
| CCL Carnival Corporation | $39.8B | 12.8× | 13.1× | +3.46% (above 0%: growing) | 0.00% | −3.26% (below 0%: shrinking) | 45.13% | 26.31% | Compare |
| VIK Viking Holdings Ltd. | $38.5B | 28.6× | 27.2× | +16.49% (above 0%: growing) | +33.33% (above 0%: growing) | −75.64% (below 0%: shrinking) | 45.50% | 29.40% | |
| EXPE Expedia Group, Inc. | $32.7B | 15.6× | 15.2× | +11.92% (above 0%: growing) | +10.70% (above 0%: growing) | −103.94% (below 0%: shrinking) | 91.51% | 26.85% | Compare |
| TCOM Trip.com Group Limited Sponsored ADR | $28.5B | 8.2× | 24.4× | +11.39% (above 0%: growing) | n/m | +531.82% (above 0%: growing) | 79.81% | (9.36%) | Compare |
| NCLH Norwegian Cruise Line Holdings Ltd. | $8.2B | 9.8× | 11.1× | +0.29% (above 0%: growing) | +15.05% (above 0%: growing) | +85.50% (above 0%: growing) | 43.41% | 21.19% | Compare |
| MMYT MakeMyTrip Limited | $4.8B | 120× | 123× | +2.54% (above 0%: growing) | n/m | +3.81% (above 0%: growing) | 82.57% | 15.59% | Compare |
| Median of peers | $36.2B | 16.8× | 16.3× | +6.13% | +11.14% | +7.51% | 81.19% | 26.58% |
Viking Holdings Ltd. (VIK) Latest News
6 Oct
28 Aug
22 Aug
19 Aug
VIK metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Beneish M-score