Viking Holdings (VIK) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VIK SEC filings page.
Viking Holdings (VIK) reported $6.5B in revenue for fiscal year 2025, up 21.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation is repairing a historically negative-equity balance sheet while current liabilities still exceed current assets.
Operating cash flow rose from$1.37B in FY2023 to$2.56B in FY2025 and stayed positive throughout, making cash generation less volatile than reported earnings. In FY2024,$2.08B of operating cash flow versus just$153M of net income shows that non-cash items and working-capital movements materially separate accounting profit from cash produced.
Equity repair was dramatic: reported equity moved from
Revenue reached
Financial Health Signals
Viking Holdings does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Viking Holdings passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Viking Holdings generates $2.23 in operating cash flow ($2.6B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Viking Holdings generated $1.7B in revenue in Q4 2025. This represents an increase of 27.8% from the same quarter a year earlier. Against the prior quarter it is down 13.8%.
Viking Holdings reported $300.3M in net income in Q4 2025. This represents an increase of 188.3% from the same quarter a year earlier. Against the prior quarter it is down 41.6%.
Not reported for Q4 2025.
Not reported for Q4 2025.
Cash & Balance Sheet
Viking Holdings held $3.8B in cash against $212.4M in long-term debt as of Q4 2025, with $5.7B of liabilities due within a year.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
Viking Holdings's net profit margin was 17.4% in Q4 2025, showing the share of revenue converted to profit. This is up 9.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.3 percentage points.
Viking Holdings's ROE was 26.8% in Q4 2025, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 37.2 percentage points.
Not reported for Q4 2025.
Not reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
VIK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7B+27.8% | $2.0B+19.1% | $1.9B+18.5% | $897.1M+24.9% | $1.3B | $1.7B | $1.6B | $718.2M |
| Interest Expense | $84.9M-1.7% | $107.0M+26.7% | $84.0M-12.5% | $86.7M-23.7% | $86.4M | $84.4M | $96.0M | $113.6M |
| Income Tax | $5.0M+72.3% | $6.9M+41.7% | $4.6M-38.6% | $3.2M+97.2% | $2.9M | $4.9M | $7.5M | $1.6M |
| Net Income | $300.3M+188.3% | $514.0M+35.4% | $439.2M+174.9% | -$105.5M+78.5% | $104.2M | $379.7M | $159.8M | -$490.7M |
| Diluted Shares (Avg) | N/A | 447M+2.6% | 446M+21.3% | 443M+99.6% | N/A | 436M | 367M | 222M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).
VIK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.2B+20.9% | $11.5B | $11.1B | $10.7B | $10.1B+18.0% | N/A | N/A | N/A |
| Current Assets | $4.5B+40.0% | $3.9B | $3.5B | $3.7B | $3.2B+36.7% | N/A | N/A | N/A |
| Cash & Equivalents | $3.8B+52.8% | $3.0B+27.3% | $2.6B+41.4% | $2.8B+65.2% | $2.5B+64.5% | $2.4B | $1.8B | $1.7B |
| Inventory | $95.8M+4.7% | $98.6M | $92.1M | $91.7M | $91.5M+67.5% | N/A | N/A | N/A |
| Accounts Receivable | $142.0M-40.6% | $130.2M | $171.3M | $232.2M | $239.0M-30.7% | N/A | N/A | N/A |
| Goodwill | $8.0M0.0% | N/A | N/A | N/A | $8.0M0.0% | N/A | N/A | N/A |
| Total Liabilities | $11.1B+7.5% | $10.7B | $10.8B | $11.0B | $10.3B-25.3% | N/A | N/A | N/A |
| Current Liabilities | $5.7B+9.5% | $6.1B | $5.4B | $5.9B | $5.2B+19.6% | N/A | N/A | N/A |
| Non-Current Liabilities | $5.4B+5.4% | $4.6B | $5.4B | $5.1B | $5.1B-46.0% | N/A | N/A | N/A |
| Long-Term Debt | $212.4M+2.3% | $218.9M | $191.9M | $194.9M | $207.6M-8.9% | N/A | N/A | N/A |
| Total Equity | $1.1B+612.1% | $803.5M+216.6% | $278.3M+125.5% | -$267.5M+95.4% | -$219.0M+95.8% | -$688.9M | -$1.1B | -$5.8B |
| Retained Earnings | -$4.2B+21.3% | N/A | N/A | N/A | -$5.3B+2.5% | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
VIK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $837.8M+126.1% | $663.9M-19.9% | $470.7M+12.1% | $587.9M+27.0% | $370.5M | $828.7M | $419.8M | $463.0M |
| Depreciation & Amortization | $80.8M+12.5% | $69.7M+13.0% | $65.4M+5.9% | $68.8M+5.0% | $71.8M | $61.7M | $61.8M | $65.5M |
| Investing Cash Flow | -$130.1M+75.6% | -$29.6M+70.3% | -$659.7M-373.6% | -$130.1M-59.6% | -$533.0M | -$99.9M | -$139.3M | -$81.5M |
| Financing Cash Flow | $57.7M-79.0% | -$202.0M-5.7% | $22.8M+120.4% | -$184.5M+15.8% | $274.2M | -$191.1M | -$111.8M | -$219.2M |
| Dividends Paid | $0 | $0 | -$867K-105.0% | $867K+20.4% | $0 | $0 | $17.5M | $720K |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
VIK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 17.4%+9.7pp | 25.7%+3.1pp | 23.4%+13.3pp | -11.8%+56.6pp | 7.7% | 22.6% | 10.1% | -68.3% |
| Return on Equity | 26.8% | 64.0% | 157.8% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 2.5%+1.4pp | 4.5% | 4.0% | -1.0% | 1.0% | N/A | N/A | N/A |
| Current Ratio | 0.79+0.2x | 0.63 | 0.64 | 0.63 | 0.62+0.1x | N/A | N/A | N/A |
| Debt-to-Equity | 0.19 | 0.27 | 0.69 | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.140.0x | 0.17 | 0.17 | 0.08 | 0.13 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.79), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Viking Holdings VIK | FY2025 | $6.5B | $1.1B | 17.7% | $36.0B | — |
| Expedia Group, Inc. EXPE | FY2025 | $14.7B | $1.3B | 8.8% | $31.8B | 63/100 |
| Carnival Corporation Ltd. CCL | FY2025 | $26.6B | $2.8B | 10.4% | $34.6B | 42/100 |
| Trip.com Group Limited TCOM | FY2025 | $8.9B | $4.8B | 53.4% | $24.0B | 74/100 |
| Norwegian Cruise Line Holdings Ltd. NCLH | FY2025 | $9.8B | $423.2M | 4.3% | $7.0B | 32/100 |
Where Viking Holdings Ranks
Frequently Asked Questions
What is Viking Holdings's annual revenue?
Viking Holdings (VIK) reported $6.5B in total revenue for fiscal year 2025. This represents a 21.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Viking Holdings's revenue growing?
Viking Holdings (VIK) revenue grew by 21.9% year-over-year, from $5.3B to $6.5B in fiscal year 2025.
Is Viking Holdings profitable?
Yes, Viking Holdings (VIK) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 17.7%.
How much debt does Viking Holdings have?
As of fiscal year 2025, Viking Holdings (VIK) had $3.8B in cash and equivalents against $212.4M in long-term debt.
What is Viking Holdings's net profit margin?
Viking Holdings (VIK) had a net profit margin of 17.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Viking Holdings's return on equity (ROE)?
Viking Holdings (VIK) has a return on equity of 102.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Viking Holdings's operating cash flow?
Viking Holdings (VIK) generated $2.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Viking Holdings's total assets?
Viking Holdings (VIK) had $12.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Viking Holdings's current ratio?
Viking Holdings (VIK) had a current ratio of 0.79 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Viking Holdings's debt-to-equity ratio?
Viking Holdings (VIK) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Viking Holdings's return on assets (ROA)?
Viking Holdings (VIK) had a return on assets of 9.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Viking Holdings's P/E ratio?
Viking Holdings (VIK) trades at 31.3x earnings, its market capitalization divided by net income of $1.1B net income, FY2025. The market capitalization is $36.0B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Viking Holdings's price-to-sales ratio?
Viking Holdings (VIK) trades at 5.5x sales, its market capitalization divided by revenue of $6.5B revenue, FY2025. The market capitalization is $36.0B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Viking Holdings's Piotroski F-Score?
Viking Holdings (VIK) has a Piotroski F-Score of 7 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Viking Holdings's earnings high quality?
Viking Holdings (VIK) has an earnings quality ratio of 2.23x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.