Viking Holdings Ltd
VIK · Water Transportation · EDGAR filings ↗
Grade
B81Category-leading pure-play luxury cruise franchise with top-decile growth and returns, tempered by very high leverage.
Strengths
- Top-decile growth (revenue 93.8th pct, net income 100th) and returns (ROE 94th, ROIC 93rd pct)
- Differentiated, repeat-guest brand (54% repeat) with leading river/ocean luxury market share
Risks
- Very high leverage (D/E 5.05, 100th pct) inflating ROE; current ratio below 1
- Discretionary demand sensitive to macro shocks, geopolitical disruption and weather
Notable findings
- High leverageHigh leverage (debt/equity 5.05)
- Weak liquidityCurrent ratio 0.79 (<1)
- Revenue declineRevenue -13.8% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
43.3%
Operating margin
23.1%
Net margin
17.7%
Return on equity
102.4%
Return on assets
9.4%
ROIC
17.5%
Revenue growth (QoQ)
-13.8%
Net-income growth
650.5%
Debt / equity
5.1×
Interest coverage
4.1×
Current ratio
0.8×
Tangible book value
$1.1B
Cash & investments
$3.8B
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-03 | 2025-12-31 | 0001745201-26-000007 ↗ |
| 20-F | 2025-03-11 | 2024-12-31 | 0000950170-25-036852 ↗ |