Viking Holdings Ltd.
VIK - Insider Information
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+ FollowMarket Cap$39.07B
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Earnings Call Q2 2026
August 19, 2026 - AI Summary
Strong Q2 performance (financial momentum):
- Revenue +$2.2B (+16.5% YoY) driven by capacity +10.9% and higher net yields.
- Adjusted EBITDA $748M (+18.2% YoY); net yield $645 (+6.2%).
- Adjusted EPS $1.31 (+33%) and net income $588M (+$148M vs. prior year).
- 1H 2026: adjusted gross margin +$16.5% YoY to $2.1B+; adjusted EBITDA +$20.9% YoY to $853M.
Bookings/visibility remains very healthy (key investor “good”):
- 2026 season ~96% sold for core products; advanced bookings $6.4B (+13% vs. same point 2025) with capacity +7%.
- 2027 season already ~53% booked; capacity +15% YoY; advanced bookings $4.7B (+21%).
- Ocean: 62% booked (2027); advanced bookings +29% YoY; rates $877 vs. $781 at comparable time for 2026.
- River: 42% booked (2027); advanced bookings +11% YoY; rates $1,029 vs. $942.
Growth supported by fleet expansion (opportunity):
- Since last call, delivered 4 river vessels + 1 ocean ship. Also exercised options for 2 additional ocean ships for delivery in 2032.
- 2026 deliveries expected: 12 ships total (10 River, 2 Ocean).
- Management reiterates the model advantage from an almost identical fleet (strong yields, comparable performance across similar itineraries, operational efficiencies).
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$59.15
35.1% downside
Current Fair Value
35.1% downsideOvervalued by 35.1% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $39.07 Billion |
|---|---|
| Enterprise Value | $46.32 Billion |
| Earnings per Share | $2.59 |
| Beta | 1.47 |
| Outstanding Shares | 446,378,000 |
Return
| Return on Equity | 81.52% |
|---|---|
| Return on Assets | 9.77% |
| Return on Invested Capital | 21.38% |
Valuation & Multiples
| P/E Ratio | 28.87 |
|---|---|
| PEG | 85.41 |
| Price to Sales | 6.08 |
| Price to Book Ratio | 30.39 |
| Enterprise Value to Revenue | 6.65 |
| Enterprise Value to EBIT | 28.17 |
| Enterprise Value to Net Income | 34 |
| Total Debt to Enterprise | 0.24 |
| Debt to Equity | 6.8 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 26, 2026
EPS Estimate
$1.26
Consensus analyst estimateRevenue Estimate
$2.14 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 17, 2026
EPS Estimate
$1.27
Consensus analyst estimateRevenue Estimate
$2.21 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 161.12% |
|---|---|
| Total Calls | 1,500▼ 99.79% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.47%▼ 46.22% |
|---|---|
| Total Invested | $514.35M▼ 97.69% |
| Investors Holding | 186▼ 452.00% |