Global Business Travel Group, Inc. (GBTG) vs Viking Holdings Ltd. (VIK)

Global Business Travel Group, Inc. and Viking Holdings Ltd. are both Travel Services companies. Viking Holdings Ltd. is the larger, with a market value of $35.8B against $5.0B — 7.2× the size. Viking Holdings Ltd. trades at the lower P/E: 26.5× against 55.9×. Global Business Travel Group, Inc. grew revenue faster over the last twelve months: 30.2% against 20.0%. Viking Holdings Ltd. has the higher net margin (19.3% vs 2.77%) and the higher return on invested capital (26.5% vs 1.61%). Across the 20 metrics below, Viking Holdings Ltd. leads on 13 and Global Business Travel Group, Inc. on 7.

Valuation

Metric GBTG VIK Travel Services median
P/E 55.88 26.50 17.52
P/S 1.54 5.14 2.24
P/B 2.97 21.69 2.61
Price to free cash flow 47.85 31.07 12.40
EV/EBITDA 20.05 19.69 12.77
EV/Sales 1.85 5.46 2.38
Earnings yield 1.79% 3.77% 3.30%
Free cash flow yield 2.09% 3.22% 3.22%

Profitability

Metric GBTG VIK Travel Services median
Gross margin 58.50% 43.21% 67.64%
Operating margin 2.14% 23.27% 15.06%
Net margin 2.77% 19.33% 6.64%
Free cash flow margin 3.21% 16.56% 3.21%
Return on equity 6.17% 194.53% 7.53%
Return on assets 1.97% 10.82% 3.40%
Return on invested capital 1.61% 26.45% 4.65%

Growth

Metric GBTG VIK Travel Services median
Revenue growth (TTM) 30.16% 20.02% 13.25%
EPS growth (last fiscal year) 173.33% 613.89% —
Revenue growth, 5-year CAGR 27.94% — 28.66%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric GBTG VIK Travel Services median
Debt to equity 0.92 3.73 0.32
Current ratio 1.20 0.81 1.20
Net debt to EBITDA 3.06 1.07 1.07

Dividend

Metric GBTG VIK Travel Services median
Dividend yield — — —
Payout ratio 0.00 — 0.00

Size

Metric GBTG VIK Travel Services median
Market cap 4.95b 35.77b 4.41b

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