VIKNYSEWater TransportationFiscal year ends December 31
Viking Holdings Ltd
Financials through Q4 FY2025, quarter ended Dec 31, 2025Last filing: 20-F on Mar 3, 2026
$84.04+0.62 (+0.74%)
Close on Oct 19, 2026
- Market cap
- $37.63B
- P/E (TTM)
- 32.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2021 to 2025
Gross margin
43.3%
Operating margin
23.1%
Net margin
17.7%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +21.9% | +27.0% | – | – | |
| Gross profit | +26.9% | +40.1% | – | – | |
| Operating income | +39.7% | +188.2% | – | – | |
| Net income | +653.3% | +40.4% | – | – | |
| EPS, diluted | +613.9% | – | – | – |
Returns and balance sheet
5 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2021 | FY2021 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 263.5% | |
| Return on assets | – | – | 10.3% | |
| Current ratio | – | – | 0.79 | |
| Debt to equity | – | – | 5.03 | |
| Net debt to EBITDA | – | – | 0.95× | |
| Interest coverage | – | – | 4.1× | |
| Inventory turnover | – | – | 39.3× | |
| Diluted shares | – | – | 446M |
Cash use needs five years of cash flow figures
Viking does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.7%
×Asset turnover0.58×
×Equity multiplier25.66×
=Return on equity, FY2025263.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 17.7% | 0.58× | 25.66× | 263.5% |
| FY2024 | 2.9% | 0.57× | -3.40× | -5.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.15B
- Cash generatingOperating cash flow above zero$2.56B
- Return on assets improvedROA up on the prior year1.8% → 11.3%
- Earnings backed by cashOperating cash flow above net income$2.56B vs $1.15B
- Less leverageLong-term debt to assets fell48.1% → 41.9%
- Better liquidityCurrent ratio rose0.62 → 0.79
- No dilutionShare count did not rise367M → 446M
- Gross margin improvedGross margin up on the prior year41.62% → 43.34%
- More efficientAsset turnover rose0.62 → 0.64