Viking Holdings Ltd (VIK) AI Stock Analysis

• Market Cap: $29.83B
• Dividend Yield: N/A
• Average Volume (3M): 2.42M
• Price to Earnings (P/E): 31.3
• Beta (1Y): 1.23
• Revenue Growth: 20.04%
• EPS Growth: N/A
• Country: US
• Employees: 12,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Travel Services
• EPS (TTM): 1.20
• Shares Outstanding: 315,646,480
• 10 Day Avg. Volume: 3,002,361
• 30 Day Avg. Volume: 2,418,678
• PEG Ratio: -0.97
• Price to Book (P/B): -72.01
• Price to Sales (P/S): 3.01
• P/FCF Ratio: 13.77
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 4.96
• Enterprise Value/Gross Profit: 12.89
• Enterprise Value/Ebitda: 18.87
• 1Y Price Target: $66.64
• Price Target Upside: -0.95% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 2.49
• Revenue Forecast (FY): $6.40B

• Rating: 66 Neutral
• Price Target: $69.00 ▲(2.56% Upside)

Viking Holdings Ltd's overall stock score is driven by strong earnings call results and positive technical indicators. However, financial performance concerns, particularly high leverage and cash flow issues, and a relatively high P/E ratio, moderate the overall score.

Positive Factors

Revenue Growth

Sustained revenue growth indicates effective business strategies and a strong market position, supporting long-term financial health.

Fleet Expansion

Expanding fleet size enhances operational capacity and market reach, positioning Viking for continued growth in the travel sector.

Strong Booking Environment

High advance bookings reflect strong customer demand and brand loyalty, ensuring stable future revenue streams.

Negative Factors

High Leverage

High leverage can increase financial risk and limit flexibility, potentially impacting long-term sustainability and growth.

Declining Free Cash Flow

Decreasing free cash flow growth may hinder the company's ability to invest in new opportunities and manage debt effectively.

Negative Equity

Negative equity indicates financial instability, posing risks to long-term viability and shareholder value.

Viking Holdings Ltd Business Overview & Revenue Model

Company Description

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships. The company was founded in 1997 and is based in Pembroke, Bermuda.

How the Company Makes Money

Viking Holdings generates revenue through multiple streams, primarily from its investments in real estate properties that provide rental income and capital appreciation. The company also earns revenue by investing in renewable energy projects, which yield returns through the sale of generated energy and government incentives for sustainable practices. Additionally, Viking Holdings engages in partnerships with technology firms, allowing it to invest in and develop cutting-edge solutions that can be monetized through licensing agreements and joint ventures. The combination of these revenue streams, along with a focus on strategic acquisitions and asset management, contributes significantly to the company's overall earnings.

Viking Holdings Ltd Financial Statement Overview

Summary

Viking Holdings Ltd shows strong revenue growth and improved profitability, but faces challenges with high leverage and declining free cash flow. The financial health is mixed, with strong revenue trends offset by financial risks and cash flow concerns.

Income Statement

Viking Holdings Ltd has shown a consistent increase in revenue, with a TTM revenue growth rate of 5.53%. The company has improved its profitability, as evidenced by the increase in net profit margin from 2.86% in 2024 to 14.20% in TTM. The gross profit margin has remained stable, indicating effective cost management. However, past volatility in EBIT and EBITDA margins suggests potential operational challenges.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio of 20.57 in TTM, indicating significant leverage and potential financial risk. The negative return on equity in TTM suggests inefficiencies in generating returns from equity. Despite an increase in total assets, the negative stockholders' equity is a concern for financial stability.

Cash Flow

Viking Holdings Ltd has a strong operating cash flow, but the free cash flow has declined by 13.50% in TTM, indicating potential cash management issues. The operating cash flow to net income ratio is healthy at 0.42, suggesting good cash conversion. However, the decline in free cash flow growth and its low ratio to net income highlight potential liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.13B	5.33B	4.71B	3.18B	625.10M
Gross Profit	2.36B	1.96B	1.60B	747.10M	-291.59M
EBITDA	1.61B	811.16M	-1.11B	1.14B	-1.50B
Net Income	951.34M	152.33M	-1.85B	398.56M	-2.11B
Balance Sheet
Total Assets	11.52B	10.12B	8.50B	7.86B	7.69B
Cash, Cash Equivalents and Short-Term Investments	3.04B	2.34B	1.59B	1.25B	1.91B
Total Debt	5.65B	5.57B	5.55B	5.45B	4.85B
Total Liabilities	10.72B	10.34B	13.85B	11.35B	11.57B
Stockholders Equity	800.42M	-222.73M	-5.35B	-3.50B	-3.89B
Cash Flow
Free Cash Flow	673.69M	1.16B	695.00M	-970.33M	-599.58M
Operating Cash Flow	2.09B	2.08B	1.37B	-15.44M	359.81M
Investing Cash Flow	-1.35B	-853.71M	-634.23M	-856.38M	-677.39M
Financing Cash Flow	-89.46M	-247.90M	-479.65M	322.04M	1.31B

Viking Holdings Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 67.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VIK, the sentiment is Positive. The current price of 67.28 is above the 20-day moving average (MA) of 61.21, above the 50-day MA of 60.75, and above the 200-day MA of 52.68, indicating a bullish trend. The MACD of 1.77 indicates Negative momentum. The RSI at 67.77 is Neutral, neither overbought nor oversold. The STOCH value of 85.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VIK.

Viking Holdings Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EXPE	81 Outperform	$31.73B	24.77	104.40%	0.62%	7.29%	36.51%
TCOM	71 Outperform	$46.04B	11.21	20.10%	0.40%	17.33%	91.19%
RCL	67 Neutral	$72.61B	17.98	47.46%	1.14%	8.61%	49.58%
VIK	66 Neutral	$29.83B	31.27	9999.00%	―	20.04%	―
MMYT	65 Neutral	$6.90B	109.04	16.66%	―	14.55%	-68.46%
NCLH	64 Neutral	$8.45B	14.15	39.87%	―	3.59%	19.09%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Viking Holdings Ltd Corporate Events

Viking Holdings Ltd Reports Strong Q3 2025 Results

Viking Holdings Ltd, a prominent player in the experiential travel industry, operates a fleet of over 100 ships, offering voyages across rivers, oceans, and continents, catering to travelers interested in science, history, culture, and cuisine. In its third quarter of 2025, Viking Holdings Ltd reported robust financial results, highlighted by a significant revenue increase and the achievement of a 100-ship fleet milestone. The company saw a 19.1% rise in total revenue to $1,999.6 million, driven by increased capacity and occupancy, alongside a 26.9% increase in Adjusted EBITDA to $703.5 million. Net income rose to $514 million, with an improved net leverage ratio, indicating strong financial health. Viking’s strategic expansion included the addition of new vessels and an increase in operating capacity, with advance bookings for 2025 and 2026 seasons showing strong demand. The company remains optimistic about its growth trajectory, supported by a solid booking position and recent financial achievements, including a credit rating upgrade and enhanced financial flexibility.

Viking Holdings Ltd: Positive Earnings Call Highlights Growth

The recent earnings call for Viking Holdings Ltd presented an optimistic outlook, highlighting robust revenue and booking growth, significant EBITDA increases, and strategic fleet and itinerary expansions. Despite these positive trends, the company acknowledged challenges such as rising vessel expenses, increased SG&A costs, and the impact of currency fluctuations.

Viking Holdings Ltd Reports Strong Q2 2025 Results

Viking Holdings Ltd, a prominent player in the travel industry, specializes in providing destination-focused journeys across rivers, oceans, and lakes worldwide, catering to travelers interested in science, history, culture, and cuisine. In its latest earnings report for the second quarter of 2025, Viking Holdings Ltd reported a significant increase in total revenue and adjusted EBITDA, with the former rising by 18.5% to $1,880.4 million and the latter by 28.5% to $632.9 million compared to the same period in 2024. The company also achieved a net income of $439.2 million, a substantial increase from the previous year’s $159.8 million, reflecting strong demand for its travel experiences and successful fleet expansion. Key financial metrics such as gross margin and net yield also saw notable improvements, with gross margin increasing by 22.3% and net yield by 8.0% year-over-year. Additionally, Viking Holdings Ltd reported high occupancy rates and robust advance bookings for its core products, indicating sustained demand and a positive outlook for future growth. Looking ahead, Viking Holdings Ltd remains committed to expanding its fleet and enhancing its offerings, with plans to introduce new itineraries and increase capacity, positioning the company for continued growth in the coming years.