Viking Holdings Ltd reported a strong 2025 with significant growth and de-leveraging. Full-year revenue reached $6,501.4 million, up 21.9%, while Adjusted Gross Margin rose to $4,290.0 million, up 22.6%. Adjusted EBITDA was $1,872.1 million, an increase of 38.8%.
Net income climbed to $1,148.1 million, and Adjusted Net Income attributable to Viking was $1,165.1 million, up 43.9%, resulting in diluted EPS of $2.57 and Adjusted EPS of $2.61. Net Leverage improved from 2.4x to 1.1x and ROIC reached 45.8%.
The company entered 2026 with strong demand: for its Core Products, it had sold 86% of Capacity Passenger Cruise Days for the 2026 season as of February 15, 2026, with Advance Bookings of $5,960 million, up 13% year over year.
Canada Pension Plan Investment Board has filed an amended Schedule 13G reporting beneficial ownership of 20,144,744 ordinary shares of Viking Holdings Ltd., representing 6.4% of the outstanding class. The filing states sole voting and sole dispositive power over these shares.
The reported ownership percentage is based on 315,839,182 ordinary shares outstanding as of September 30, 2025, as disclosed in Viking’s Form 6-K. The amendment reflects CPPIB’s position as a non-U.S. institutional investor holding more than five percent of Viking’s ordinary shares.
Viking Holdings Ltd. has a major institutional shareholder disclosure. Capital Research Global Investors reports beneficial ownership of 24,325,211 shares of Viking common stock, representing 7.7% of the 315,646,491 shares it believes are outstanding as of the reported date.
The firm reports sole voting power over 24,278,173 shares and sole dispositive power over 24,325,211 shares, with no shared voting or dispositive power. It certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Viking.
VIK insider Linh Banh has filed a Form 144 indicating an intent to sell 47,586 ordinary shares of the company through Morgan Stanley Smith Barney on or about February 2, 2026. The filing lists an aggregate market value of $3,433,329.90 for these shares and notes that 315,839,182 shares of the same class were outstanding.
The shares to be sold were acquired as restricted stock units from the issuer on December 1, 2025. The notice also discloses prior sales over the past three months, including 94,276 ordinary shares sold on December 2, 2025 for $6,282,496.07 and 54,648 common shares sold on December 1, 2025 for $3,674,389.44.
VIK insider Milton Hugh has filed a notice under Rule 144 to sell 94,276 ordinary shares through Morgan Stanley Smith Barney LLC on the NYSE. The planned sale has an aggregate market value of $6,732,249.16, based on the figures disclosed, and relates to shares acquired on 01/02/2026 by exercising stock options for cash. The filing notes that 315,839,182 shares of the issuer’s securities are outstanding. Over the prior three months, the same seller disposed of 42,347 common shares on 12/01/2025 for gross proceeds of $2,847,268.30.
A shareholder of VIK filed a Form 144 notice covering a proposed sale of 94,276 ordinary shares through Morgan Stanley Smith Barney LLC on the NYSE, with an indicated aggregate market value of $6,342,889.28. These shares were acquired from the issuer on 12/02/2025 via an exercise of stock options paid in cash on the same date. The filing notes that 314,950,576 shares of the relevant class were outstanding. Over the prior three months, the seller LINH BANH reported selling 54,648 common shares on 12/01/2025 for gross proceeds of $3,674,389.44. By signing, the seller represents they are not aware of undisclosed material adverse information about the issuer.
An affiliate of the issuer filed a notice to sell 94,276 ordinary shares through Morgan Stanley Smith Barney LLC on the NYSE. The planned sale has an aggregate market value of $6,342,889.28. These ordinary shares were acquired from the issuer on 12/02/2025 through the cash exercise of stock options on the same date. The notice also reports that during the past three months, 54,648 common shares of the same issuer were sold for $3,674,302.00 by the same seller. As of the filing, the issuer had 314,950,576 shares outstanding, which serves as a baseline figure for the issuer’s total equity.
An affiliate of VIK has filed a notice of proposed resale of 211,894 ordinary shares under Rule 144. The shares are expected to be sold on the NYSE around 12/02/2025 through Morgan Stanley Smith Barney LLC, with an indicated aggregate market value of $14,256,228.32. The issuer has 314,950,576 shares outstanding, which is a baseline figure for the company’s equity.
The shares to be sold were acquired from the issuer via an exercise of stock options for 94,276 shares on 12/02/2025 for cash and through restricted stock units totaling 117,618 shares on 04/30/2024. Over the past three months, the same seller, Richard Marnell, has already sold 54,648 common shares for $3,674,476.87. The signer represents that they are not aware of any undisclosed material adverse information about the issuer.
Viking Holdings filed a Rule 144 notice for a planned sale of 54,648 ordinary shares, with an aggregate market value of $3,674,476.87, through Morgan Stanley Smith Barney LLC on the NYSE around 12/01/2025. The shares relate to vested restricted stock under a registered plan, with 18,957 and 35,691 ordinary shares acquired on 12/01/2025 and paid for in cash the same day. The filing states that the person for whose account the securities will be sold represents they are not aware of any undisclosed material adverse information about the issuer’s current or prospective operations.
VIK filed a notice of proposed insider sales under Rule 144 covering 5,705 Ordinary Shares to be sold through Morgan Stanley Smith Barney LLC on the NYSE. The aggregate market value of the planned sale is $383,579.67, based on the data in the notice. The issuer had 314,950,576 shares outstanding at the time referenced. The shares to be sold come from restricted stock that vested under a registered plan on 12/01/2025, in two lots of 1,979 and 3,726 shares paid for in cash on the same date.