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Viking Holdings Ltd (VIK)

Fair Value
Consumer CyclicalTravel ServicesBermuda

Fundamental

55

Price

$77.73

Market Cap

$35.42B

Part 1 · What the company is worth

Overview

Viking Holdings Ltd focused on providing passenger cruises in North America, the United Kingdom, and internationally. It operates through the River and Ocean segments. The Group defines its products based on the type of cruise offering and language of the cruise service. The River segment provides river cruises outside the United States for English-speaking passengers. The Ocean segment provides ocean cruises for English-speaking passengers. The company provides expedition cruises for English-speaking passengers, Mississippi River cruises for English-speaking passengers and Viking Asia, which includes cruises in languages other than English provided. As of December 31, 2025, Viking Holdings Ltd operated a fleet of 103 ships, including 89 river vessels comprising 59 Longships, 12 smaller classes based on the Longship design,15 other river vessels, and three river vessel charters, including the Viking Saigon, Viking Mississippi, and the Viking Tonle; 12 ocean ships and 2 expedition ships. The company was formerly known as MISA Investments Limited and changed its name to Viking Holdings Ltd in November 2016. The company was founded in 1997 and is based in Pembroke, Bermuda.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$6.97B

Trailing 12 months (through 6/30/2026)

Net Income

$1.35B

Trailing 12 months (through 6/30/2026)

Free Cash Flow

$406M

Total Equity

$1.16B

Total Liabilities

$6.19B

Current Ratio

0.81

Interest Coverage

-

Debt/EBITDA

3.24

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$66.68

Current Price

$77.73

Margin of Safety

-16.6%

Fair Value Range

$43.34 - $90.02

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$109.55
Discounted cash flow (DCF):$21.78
Earnings multiple (P/E):$73.53
Graham growth formula:$49.00
Earnings power value (EPV):$27.04
Justified P/B:$34.73
Dividend discount (Gordon):Not enough data to compute it
P/FFO, funds from operations:Not enough data to compute it
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$26.66
Analyst Consensus:Strong Buy (22B / 3H / 1S)
Last Earnings Surprise:+3.19%

Valuation Metrics

P/E Ratio

26.70

ROE

139.6%

P/B Ratio

21.80

P/FCF

62.31

Gross Margin

44.3%

ROIC

22.0%

Profitability Radar

Value Creation (Economic Moat)

ROIC

22.0%

WACC

9.0%

ROIC − WACC

+13.0 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Fundamental Analysis Criteria

Passed (11)

  • Price CAGR 38.93%
  • ROIC 22.0%
  • Gross Margin 44.3%
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • ROE 116.7%
  • Analyst Consensus 85% Buy
  • Earnings Surprise avg 6.9%
  • Earnings Quality (OCF/NI) 2.29
  • Net Margin Trend 17.7% vs 2.9%

Failed (6)

  • P/FCF 62.31
  • P/B Ratio 21.80
  • Debt/Equity ratio
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Piotroski F-Score 2/9

Unavailable (10)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • Revenue Growth 5Y (Finnhub)
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

Serious financial concerns

score
criteria

Earnings Quality

2.29

High quality: earnings backed by cash

Share Dilution

-

Buying back shares. Shareholder friendly

Institutional Holdings

No institutional filings reported for this company.

Governance

Executive Team

NameTitleAge
Mr. Torstein HagenFounder & Executive Chairman82
Ms. Leah TalactacPresident & CEO47
Ms. Linh BanhChief Financial Officer45
Mr. Anton HofmannExecutive Vice President of Group Operations63
Ms. Carola MengoliniVice President of Investor Relations-
Mr. Richard MarnellExecutive Vice President of Marketing59
Mr. Milton HughExecutive Vice President of Sales56
Mr. Jeff DashExecutive VP & Head of Business Development55
Mr. Karine HagenExecutive VP of Product & Director54

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for VIK, sourced from Markets Gazette.

  • 5/15/2026POSITIVE
    Viking Holdings Analysts Boost Their Forecasts Following Better-Than-Expected Q1 Results

    Viking Holdings (NYSE:VIK) has seen analysts upgrade their forecasts after a robust Q1 performance that surpassed earnings expectations. The company also announced key leadership changes with new CEO and CFO appointments, signaling strategic direction. Despite a minor 2.7% dip in stock price post-announcement, the underlying financial strength and leadership transition suggest a positive outlook for the cruise line operator. Investors will be watching for continued execution on growth initiatives and operational efficiency in the upcoming quarters.

  • 3/3/2026NEUTRAL
    Viking Holdings (VIK) Q4 2025 Earnings Transcript

    Investors in Viking Holdings (VIK) are keenly awaiting the release of the Q4 2025 earnings transcript. While the announcement of the transcript's availability is a routine event, the absence of specific financial details prevents the market from forming directional judgments. Earnings transcripts are crucial for understanding not only key figures like revenue and profit but also the company's future outlook, management commentary on market trends, growth strategies, and operational challenges. Without this data, the VIK stock remains in a holding pattern, with market participants closely monitoring any updates to assess the luxury cruise line's financial health and growth trajectory.

  • 2/3/2026POSITIVE
    Blog post: Day 7 of $QQQ short term up-trend; Up-trends are holding for now; After forming a few blue dots, $VIK closed Monday at an ATH! See the daily and monthly charts. Boomers are cruising!

    Viking (VIK) stock reached a new all-time high (ATH) on Monday, demonstrating a strong upward trend. Technical analysis highlights positive indicators such as GMI (5/6) and GMI-2 (6/9), with T2108 at 55%. The formation of "blue dots" on daily charts suggests significant bounces from oversold conditions, supported by high volumes in recent buying phases. The price remains above the 50-day moving average, indicating a consolidated bullish trend. Investor enthusiasm, particularly among "Boomers" planning cruises, appears to further fuel demand for Viking, positioning the stock for potential further gains.

via Markets Gazette