VIK - Viking Holdings Ltd
Price:
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$93.00
DETAILS
HIGH:
$109.00
LOW:
$75.00
MEDIAN:
$95.00
CONSENSUS:
$93.00
UPSIDE:
10.41%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue | 6,501.4 | 5,333.9 | 4,710.5 | 3,176.0 | 625.1 |
| Cost of Revenue | 3,968.7 | 3,374.9 | 3,105.5 | 2,428.9 | 916.7 |
| Gross Profit | 2,532.8 | 1,959.0 | 1,605.0 | 747.1 | (291.6) |
| Operating Expenses | |||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 1,031.2 | 883.9 | 789.0 | 684.0 | 462.2 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 1,031.2 | 883.9 | 789.0 | 684.0 | 462.2 |
| Operating Income | |||||
| Operating Income | 1,501.5 | 1,075.1 | 816.0 | 63.1 | (753.7) |
| Interest Expense | 362.6 | 380.5 | 479.9 | 456.6 | 397.9 |
| Interest Income | 84.9 | 69.4 | 48.0 | 14.0 | 1.9 |
| Profitability | |||||
| EBITDA | 1,786.3 | 811.2 | (1,109.8) | 1,140.6 | (1,504.9) |
| EBIT | 1,501.5 | 550.3 | (1,363.5) | 864.1 | (1,709.3) |
| Income Before Tax | 1,167.7 | 169.8 | (1,843.5) | 407.4 | (2,107.2) |
| Income Tax Expense | 19.7 | 16.9 | 6.6 | 8.9 | 5.0 |
| Net Income | 1,147.6 | 152.3 | (1,850.6) | 398.6 | (2,112.0) |
| Per Share Data | |||||
| EPS (Basic) | 2.59 | 0.36 | -4.31 | 0.92 | -4.90 |
| EPS (Diluted) | 2.57 | 0.30 | -4.31 | 0.92 | -4.90 |
| Shares Outstanding | 443.5 | 364.0 | 431.5 | 431.5 | 431.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 3,803.9 | 2,342.4 | 1,534.2 | 1,253.1 | 1,812.8 |
| Short-Term Investments | 0 | 0 | 55.3 | 0.9 | 100.9 |
| Net Receivables | 142.0 | 239.0 | 357.1 | 577.8 | 725.3 |
| Inventory | 95.8 | 91.5 | 54.6 | 45.4 | 32.7 |
| Other Current Assets | 461.2 | 533.2 | 351.4 | 287.4 | 239.1 |
| Total Current Assets | 4,503.0 | 3,216.5 | 2,352.6 | 2,164.6 | 2,910.8 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 7,533.9 | 6,659.5 | 5,891.0 | 5,466.4 | 4,565.2 |
| Goodwill | 0 | 0 | 0 | 7.8 | 7.8 |
| Intangible Assets | 0 | 61.1 | 62.1 | 58.1 | 72.6 |
| Long-Term Investments | 0 | 12.7 | 10.5 | 6.5 | 7.2 |
| Other Non-Current Assets | 140.6 | 115.5 | 136.9 | 137.9 | 103.9 |
| Total Non-Current Assets | 7,729.7 | 6,904.1 | 6,143.3 | 5,692.8 | 4,777.1 |
| Total Assets | 12,232.7 | 10,120.7 | 8,495.9 | 7,857.5 | 7,687.9 |
| Current Liabilities | |||||
| Account Payables | 259.0 | 236.4 | 244.6 | 194.9 | 108.2 |
| Short-Term Debt | 401.1 | 469.8 | 253.0 | 251.6 | 211.6 |
| Deferred Revenue | 4,605.2 | 4,061.3 | 3,486.6 | 3,319.2 | 3,487.0 |
| Other Current Liabilities | 452 | 81.7 | 305.8 | 126.8 | 192.9 |
| Total Current Liabilities | 5,717.3 | 5,220.6 | 4,363.9 | 4,100.5 | 4,042.6 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 5,127.4 | 4,866.2 | 5,043.3 | 4,937.6 | 4,537.5 |
| Deferred Tax Liabilities | 0 | 4.7 | 4.1 | 5.3 | 4.0 |
| Other Non-Current Liabilities | 54.3 | 40.6 | 4,206.6 | 2,068.1 | 2,901.1 |
| Total Non-Current Liabilities | 5,394.1 | 5,119.1 | 9,481.9 | 7,250.4 | 7,530.0 |
| Total Liabilities | 11,111.4 | 10,339.7 | 13,845.8 | 11,350.9 | 11,572.6 |
| Stockholders' Equity | |||||
| Common Stock | 0 | 4.5 | 2.3 | 2.3 | 0.1 |
| Retained Earnings | 0 | (5,288.8) | (5,503.2) | (3,594.5) | (3,946.9) |
| Accumulated Other Comprehensive Income | 0 | 177.2 | 0 | 0 | 0 |
| Total Stockholders' Equity | 1,121.3 | (222.7) | (5,353.6) | (3,496.7) | (3,887.1) |
| Total Liabilities & Equity | 12,232.7 | 10,120.7 | 8,495.9 | 7,857.5 | 7,687.9 |
| Debt Metrics | |||||
| Total Debt | 5,740.9 | 5,572.5 | 5,548.9 | 5,451.6 | 4,847.3 |
| Net Debt | 1,937.0 | 3,230.1 | 4,014.7 | 4,198.4 | 3,034.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 1,147.6 | 153.0 | (1,859.1) | 398.6 | (2,112.0) |
| Depreciation & Amortization | 284.8 | 260.8 | 251.3 | 276.5 | 204.4 |
| Stock-Based Compensation | 0 | 14.1 | 17.9 | 25.3 | 23.9 |
| Change in Working Capital | 696.9 | 763.1 | 299.3 | 39.9 | 1,245.2 |
| Other Non-Cash Items | 200.7 | 890.9 | 2,661.8 | (164.7) | 1,438.0 |
| Operating Cash Flow | 2,329.9 | 2,082.0 | 1,371.3 | (15.4) | 359.8 |
| Investing Activities | |||||
| Capital Expenditure | (1,026.9) | (917.4) | (676.3) | (954.9) | (959.4) |
| Acquisitions | 0 | (8.5) | 0 | 0 | 400 |
| Purchases of Investments | (6.5) | 0 | 0 | 0 | (118) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 100 | 0 |
| Other Investing Activities | 0 | 72.2 | 42.1 | (1.5) | (18) |
| Investing Cash Flow | (1,033.4) | (853.7) | (634.2) | (856.4) | (677.4) |
| Financing Activities | |||||
| Net Debt Issuance | 45.3 | 61.5 | 84.7 | 424.3 | 897.8 |
| Stock Repurchased | 0 | 0 | 0 | 0 | (200) |
| Dividends Paid | 0 | (18.9) | (49.6) | (46.5) | (51.2) |
| Other Financing Activities | (59.3) | (534.4) | (514.8) | (459.7) | (383.4) |
| Financing Cash Flow | 8.3 | (247.9) | (479.7) | 322.0 | 1,307.0 |
| Cash Position | |||||
| Net Change in Cash | 1,303.8 | 976.0 | 260.6 | (559.6) | 986.9 |
| Cash at Beginning | 2,500.1 | 1,513.7 | 1,253.1 | 1,812.8 | 825.9 |
| Cash at End | 3,803.9 | 2,489.7 | 1,513.7 | 1,253.1 | 1,812.8 |
| Free Cash Flow | 1,303.1 | 1,164.6 | 695.0 | (970.3) | (599.6) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 6,501.4 | 5,333.9 | 4,710.5 | 3,176.0 | 625.1 |
| Gross Profit | 2,532.8 | 1,959.0 | 1,605.0 | 747.1 | (291.6) |
| Operating Income | 1,501.5 | 1,075.1 | 816.0 | 63.1 | (753.7) |
| Net Income | 1,147.6 | 152.3 | (1,850.6) | 398.6 | (2,112.0) |
| EPS (Diluted) | 2.57 | 0.30 | -4.31 | 0.92 | -4.90 |
| Balance Sheet | |||||
| Cash & Equivalents | 3,803.9 | 2,342.4 | 1,534.2 | 1,253.1 | 1,812.8 |
| Total Assets | 12,232.7 | 10,120.7 | 8,495.9 | 7,857.5 | 7,687.9 |
| Total Debt | 5,740.9 | 5,572.5 | 5,548.9 | 5,451.6 | 4,847.3 |
| Stockholders' Equity | 1,121.3 | (222.7) | (5,353.6) | (3,496.7) | (3,887.1) |
| Cash Flow | |||||
| Operating Cash Flow | 2,329.9 | 2,082.0 | 1,371.3 | (15.4) | 359.8 |
| Capital Expenditure | (1,026.9) | (917.4) | (676.3) | (954.9) | (959.4) |
| Free Cash Flow | 1,303.1 | 1,164.6 | 695.0 | (970.3) | (599.6) |