Cash flow Viking Holdings Ltd

Equities

VIK

BMG93A5A1010

Leisure & Recreation

Market Closed - Nyse Other stock markets 04:00:02 2026-06-05 pm EDT			5-day change	1st Jan Change
89.94 ^USD	-0.06%		-2.36%	+25.95%

Jun. 05	Viking Announces New Offerings for European River Voyages	CI
Jun. 03	Bernstein Initiates Viking Holdings at Outperform With $120 Price Target	MT

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Published financial data: VIKING HOLDINGS LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	625M	3.18B	4.71B	5.33B	6.5B
Total Revenues	625M	3.18B	4.71B	5.33B	6.5B
Cost of Goods Sold, Total	697M	2.1B	2.79B	3.05B	3.61B
Gross Profit	-71.74M	1.08B	1.92B	2.29B	2.89B
Selling General & Admin Expenses, Total	459M	683M	789M	884M	1.03B
Depreciation & Amortization - (IS)	204M	235M	251M	261M	285M
Other Operating Expenses	15.44M	54.7M	63.96M	65.28M	74.03M
Other Operating Expenses, Total	679M	972M	1.1B	1.21B	1.39B
Operating Income	-751M	106M	818M	1.08B	1.5B
Interest Expense, Total	-384M	-457M	-539M	-380M	-363M
Interest And Investment Income	1.93M	14.04M	48.03M	69.37M	84.88M
Net Interest Expenses	-383M	-443M	-491M	-311M	-278M
Income (Loss) On Equity Invest.	-	-	-	-7.9M	-5.2M
Currency Exchange Gains (Loss)	5.4M	-35.04M	-20.82M	31.54M	-56.1M
Other Non Operating Income (Expenses)	-688M	821M	-2.16B	-618M	5.21M
EBT, Excl. Unusual Items	-1.82B	449M	-1.85B	170M	1.17B
Gain (Loss) On Sale Of Assets	75.59M	-	-	-	-
Asset Writedown	-	-13.3M	-	-	-
Other Unusual Items	-367M	-28.6M	-	-	-
EBT, Incl. Unusual Items	-2.11B	407M	-1.85B	170M	1.17B
Income Tax Expense	5.03M	8.9M	6.64M	16.86M	19.65M
Earnings From Continuing Operations	-2.11B	399M	-1.86B	153M	1.15B
Net Income to Company	-2.11B	399M	-1.86B	153M	1.15B
Minority Interest	248K	45K	-476K	-646K	-525K
Net Income - (IS)	-2.11B	399M	-1.86B	152M	1.15B
Preferred Dividend and Other Adjustments	-947M	162M	-873M	20.55M	-
Net Income to Common Incl Extra Items	-1.16B	237M	-986M	132M	1.15B
Net Income to Common Excl. Extra Items	-1.16B	237M	-986M	132M	1.15B
Per Share Items
Net EPS - Basic	-5.16	1.07	-4.44	0.36	2.59
Basic EPS - Continuing Operations	-5.16	1.07	-4.44	0.36	2.59
Basic Weighted Average Shares Outstanding	226M	222M	222M	364M	443M
Net EPS - Diluted	-5.16	-0.77	-4.44	0.36	2.57
Diluted EPS - Continuing Operations	-5.16	-0.77	-4.44	0.36	2.57
Diluted Weighted Average Shares Outstanding	226M	406M	222M	367M	446M
Normalized Basic EPS	-5.03	1.27	-5.22	0.29	1.64
Normalized Diluted EPS	-5.03	0.69	-5.22	0.29	1.63
Payout Ratio	-2.43	11.66	-2.67	12.44	-
Supplemental Items
EBITDA	-557M	341M	1.05B	1.32B	1.76B
EBITA	-737M	106M	836M	1.1B	1.53B
EBIT	-751M	106M	818M	1.08B	1.5B
EBITDAR	-540M	360M	1.05B	1.32B	1.78B
Total Revenues (As Reported)	625M	3.18B	4.71B	5.33B	6.5B
Effective Tax Rate - (Ratio)	-0.24	2.18	-0.36	9.93	1.68
Current Foreign Taxes	5.6M	10.98M	7.07M	7.68M	7.81M
Total Current Taxes	5.6M	10.98M	7.07M	7.68M	7.81M
Deferred Foreign Taxes	-566K	-2.08M	-427K	9.17M	11.84M
Total Deferred Taxes	-566K	-2.08M	-427K	9.17M	11.84M
Normalized Net Income	-1.13B	281M	-1.16B	106M	729M
Interest Capitalized	-	-	-	20.52M	24.39M
Interest on Long-Term Debt	26.8M	46.43M	60.93M	-	49.38M
Non-Cash Pension Expense	3K	0	-39K	-13K	-7K
Supplemental Operating Expense Items
Marketing Expenses	205M	312M	354M	396M	438M
Selling and Marketing Expenses	205M	312M	354M	396M	438M
Net Rental Expense, Total	17.5M	18.7M	3M	1.7M	13.5M
Imputed Operating Lease Interest Expense	-	13.27M	2.35M	981K	7.39M
Imputed Operating Lease Depreciation	-	5.43M	648K	719K	6.11M
Maintenance & Repair Expenses, Total	58.74M	109M	141M	153M	182M
Stock-Based Comp., Other (Total)	23.9M	25.26M	17.91M	14.11M	88.52M
Total Stock-Based Compensation	23.9M	25.26M	17.91M	14.11M	88.52M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.81B	1.25B	1.51B	2.49B	3.8B
Short Term Investments	106M	21.49M	20.5M	10.46M	20M
Total Cash And Short Term Investments	1.92B	1.27B	1.53B	2.5B	3.82B
Accounts Receivable, Total	674M	532M	269M	164M	85.62M
Other Receivables	51.62M	45.46M	88.09M	75.03M	56.42M
Total Receivables	725M	578M	357M	239M	142M
Inventory	32.7M	45.38M	54.6M	91.47M	95.78M
Prepaid Expenses	119M	118M	140M	159M	183M
Restricted Cash	-	-	75.79M	-	-
Other Current Assets, Total	115M	149M	191M	227M	258M
Total Current Assets	2.91B	2.16B	2.35B	3.22B	4.5B
Gross Property Plant And Equipment	5.7B	6.8B	7.45B	8.44B	9.47B
Accumulated Depreciation	-1.14B	-1.33B	-1.55B	-1.78B	-2.02B
Net Property Plant And Equipment	4.57B	5.47B	5.89B	6.66B	7.45B
Long-term Investments	7.16M	6.5M	10.47M	12.73M	19.6M
Other Intangibles, Total	80.37M	65.9M	62.12M	61.06M	86.74M
Deferred Tax Assets Long-Term	20.47M	16.23M	42.85M	55.43M	55.18M
Deferred Charges Long-Term	27.25M	61.54M	69.24M	55.88M	57.41M
Other Long-Term Assets, Total	76.62M	76.32M	67.62M	59.58M	63.62M
Total Assets	7.69B	7.86B	8.5B	10.12B	12.23B
Liabilities
Accounts Payable, Total	108M	195M	245M	236M	259M
Accrued Expenses, Total	137M	185M	230M	284M	329M
Current Portion of Long-Term Debt	212M	252M	253M	470M	375M
Current Portion of Leases	10.92M	22.99M	24.67M	28.94M	26.48M
Unearned Revenue Current, Total	3.49B	3.32B	3.49B	4.06B	4.61B
Other Current Liabilities	87.75M	127M	125M	140M	123M
Total Current Liabilities	4.04B	4.1B	4.36B	5.22B	5.72B
Long-Term Debt	4.54B	4.94B	5.04B	4.87B	5.13B
Long-Term Leases	87.32M	239M	228M	208M	212M
Deferred Tax Liability Non Current	4.04M	5.26M	4.08M	4.7M	6.26M
Other Non Current Liabilities	2.9B	2.07B	4.21B	40.65M	48.04M
Total Liabilities	11.57B	11.35B	13.85B	10.34B	11.11B
Common Stock, Total	86K	86K	86K	4.48M	4.51M
Additional Paid In Capital	116M	134M	178M	5.22B	5.34B
Retained Earnings	-3.95B	-3.59B	-5.5B	-5.29B	-4.16B
Treasury Stock	-	-	-	-124M	-124M
Comprehensive Income and Other	-56.19M	-35.63M	-28.71M	-36.11M	36.08M
Total Common Equity	-3.89B	-3.5B	-5.35B	-223M	1.09B
Minority Interest	2.4M	3.26M	3.72M	3.75M	27.56M
Total Equity	-3.88B	-3.49B	-5.35B	-219M	1.12B
Total Liabilities And Equity	7.69B	7.86B	8.5B	10.12B	12.23B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	226M	222M	222M	443M	446M
ECS Total Common Shares Outstanding	226M	222M	222M	443M	446M
Book Value / Share	-17.22	-15.76	-24.12	-0.5	2.45
Tangible Book Value	-3.97B	-3.56B	-5.42B	-284M	1.01B
Tangible Book Value Per Share	-17.58	-16.05	-24.4	-0.64	2.26
Total Debt	4.85B	5.45B	5.55B	5.57B	5.74B
Net Debt	2.93B	4.18B	4.01B	3.07B	1.92B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.14M	-245K	903K	1.6M	5.36M
Debt Equivalent Oper. Leases	140M	150M	24M	13.6M	108M
Minority Interest, Total (Incl. Fin. Div)	2.4M	3.26M	3.72M	3.75M	27.56M
Equity Method Investments, Total	7.16M	6.5M	10.47M	12.73M	19.6M
Account Code - Inventory Valuation	-	5	5	5	5
Inventories - Raw Materials, Total	9.2M	14.21M	14.01M	13.45M	13.78M
Inventories - Finished Goods, Total	15.87M	23.07M	31.12M	36.04M	43.95M
Inventories - Others	7.62M	8.1M	9.47M	41.99M	38.05M
Land - (BS)	15.38M	17.82M	21.79M	24.01M	114M
Machinery, Total	5.13B	6.18B	6.64B	7.31B	8.03B
Full Time Employees	-	-	9.5K	12K	13K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-2.11B	399M	-1.86B	152M	1.15B
Depreciation & Amortization - CF	190M	235M	234M	241M	261M
Amortization of Goodwill and Intangible Assets - (CF)	13.92M	-	17.23M	20.08M	24.11M
Depreciation & Amortization, Total	204M	235M	251M	261M	285M
Amortization of Deferred Charges, Total - (CF)	21.47M	34.64M	38.39M	31.72M	31.7M
(Gain) Loss From Sale Of Asset	-75.59M	-	-	-	-
Asset Writedown & Restructuring Costs	-	13.3M	-	-	-
Stock-Based Compensation (CF)	23.9M	25.26M	17.91M	14.11M	88.52M
Other Operating Activities, Total	1.39B	-374M	2.62B	860M	311M
Change In Accounts Receivable	-8.18M	-401K	-2.42M	12.07M	-
Change In Inventories	-7.02M	-12.68M	-9.22M	-36.55M	-4.31M
Change in Unearned Revenues	1.46B	-168M	167M	575M	544M
Change In Deferred Taxes	-566K	-2.08M	-427K	9.17M	11.86M
Change in Other Net Operating Assets	-196M	223M	144M	204M	146M
Cash from Operations	702M	373M	1.37B	2.08B	2.56B
Capital Expenditure	-959M	-956M	-676M	-917M	-1.03B
Divestitures	400M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-118M	100M	-7M	-8.5M	-6.5M
Other Investing Activities, Total	1.86M	14.88M	49.11M	72.21M	83.87M
Cash from Investing	-676M	-842M	-634M	-854M	-949M
Long-Term Debt Issued, Total	1.3B	670M	1.07B	401M	2.13B
Total Debt Issued	1.3B	670M	1.07B	401M	2.13B
Long-Term Debt Repaid, Total	-399M	-246M	-984M	-339M	-2.06B
Total Debt Repaid	-399M	-246M	-984M	-339M	-2.06B
Issuance of Common Stock	-	-	-	256M	22.26M
Repurchase of Common Stock	-200M	-	-	-124M	-
Issuance of Preferred Stock	699M	-	-	-	-
Common Dividends Paid	-51.22M	-46.46M	-49.63M	-18.95M	-
Common & Preferred Stock Dividends Paid	-51.22M	-46.46M	-49.63M	-18.95M	-
Other Financing Activities, Total	-382M	-459M	-515M	-423M	-400M
Cash from Financing	963M	-80.93M	-480M	-248M	-306M
Foreign Exchange Rate Adjustments	-2.55M	-9.86M	3.12M	-4.44M	9.41M
Net Change in Cash	987M	-560M	261M	976M	1.31B
Supplemental Items
Cash Interest Paid	349M	416M	431M	376M	333M
Cash Income Tax Paid (Refund)	13.84M	9.36M	5.65M	4.76M	6.12M
Levered Free Cash Flow	-	-773M	139M	561M	722M
Unlevered Free Cash Flow	-	-523M	437M	767M	917M
Change In Net Working Capital	-	-108M	-333M	-738M	-632M
Net Debt Issued / Repaid	898M	424M	84.74M	61.53M	71.91M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	0.85	6.26	7.19	8.4
Return on Total Capital	-	4.54	47.42	23.86	15.36
Return On Equity %	-	-10.8	42.03	-5.57	254.46
Return on Common Equity	-	-6.41	22.27	-4.8	263.49
Margin Analysis
Gross Profit Margin %	-11.48	33.95	40.82	42.84	44.48
SG&A Margin	73.44	21.5	16.75	16.57	15.86
EBITDA Margin %	-89.13	10.73	22.31	24.67	27.14
EBITA Margin %	-117.86	3.34	17.74	20.53	23.47
EBIT Margin %	-120.08	3.34	17.37	20.16	23.1
Income From Continuing Operations Margin %	-337.9	12.55	-39.46	2.87	17.66
Net Income Margin %	-337.86	12.55	-39.47	2.86	17.65
Net Avail. For Common Margin %	-186.35	7.45	-20.92	2.47	17.65
Normalized Net Income Margin	-181.49	8.84	-24.58	1.98	11.22
Levered Free Cash Flow Margin	-	-24.35	2.94	10.52	11.1
Unlevered Free Cash Flow Margin	-	-16.45	9.28	14.38	14.1
Asset Turnover
Asset Turnover	-	0.41	0.58	0.57	0.58
Fixed Assets Turnover	-	0.63	0.83	0.84	0.92
Receivables Turnover (Average Receivables)	-	5.27	11.9	24.64	47.07
Inventory Turnover (Average Inventory)	-	53.74	55.77	41.74	38.56
Short Term Liquidity
Current Ratio	0.72	0.53	0.54	0.62	0.79
Quick Ratio	0.65	0.45	0.43	0.52	0.69
Operating Cash Flow to Current Liabilities	0.17	0.09	0.31	0.4	0.45
Days Sales Outstanding (Average Receivables)	-	69.3	30.68	14.85	7.75
Days Outstanding Inventory (Average Inventory)	-	6.79	6.54	8.77	9.47
Average Days Payable Outstanding	-	26.21	28.67	28.52	25.02
Cash Conversion Cycle (Average Days)	-	49.88	8.55	-4.9	-7.79
Long Term Solvency
Total Debt/Equity	-124.78	-156.05	-103.72	-2.54K	511.97
Total Debt / Total Capital	503.52	278.41	2.79K	104.09	83.66
LT Debt/Equity	-119.05	-148.19	-98.53	-2.32K	476.2
Long-Term Debt / Total Capital	480.41	264.38	2.65K	94.77	77.81
Total Liabilities / Total Assets	150.53	144.46	162.97	102.16	90.83
EBIT / Interest Expense	-1.95	0.23	1.52	2.83	4.14
EBITDA / Interest Expense	-1.42	0.75	1.98	3.51	4.93
(EBITDA - Capex) / Interest Expense	-3.92	-1.35	0.73	1.1	2.09
Total Debt / EBITDA	-8.87	16	5.19	4.17	3.21
Net Debt / EBITDA	-5.36	12.26	3.75	2.3	1.07
Total Debt / (EBITDA - Capex)	-3.22	-8.86	14.11	13.32	7.56
Net Debt / (EBITDA - Capex)	-1.94	-6.79	10.21	7.34	2.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	408.07	48.32	13.23	21.89
Gross Profit, 1 Yr. Growth %	-	-1.6K	78.3	18.85	26.54
EBITDA, 1 Yr. Growth %	-	-161.17	224.32	25.18	34.09
EBITA, 1 Yr. Growth %	-	-114.41	893.42	31.44	39.31
EBIT, 1 Yr. Growth %	-	-114.15	1.17K	31.76	39.67
Earnings From Cont. Operations, 1 Yr. Growth %	-	-118.87	-566.38	-108.27	650.5
Net Income, 1 Yr. Growth %	-	-118.87	-566.44	-108.23	653.34
Normalized Net Income, 1 Yr. Growth %	-	-124.76	-554.66	-109.32	591.29
Diluted EPS Before Extra, 1 Yr. Growth %	-	-85.06	475.94	-108.15	613.39
Accounts Receivable, 1 Yr. Growth %	-	-20.98	-48.56	-39.03	-55.08
Inventory, 1 Yr. Growth %	-	38.79	20.33	67.53	4.71
Net Property, Plant and Equip., 1 Yr. Growth %	-	19.74	7.77	11.52	11.83
Total Assets, 1 Yr. Growth %	-	2.21	8.13	18.01	20.87
Tangible Book Value, 1 Yr. Growth %	-	-10.2	52.02	-94.68	-454.85
Common Equity, 1 Yr. Growth %	-	-10.04	53.11	-95.78	-591.08
Cash From Operations, 1 Yr. Growth %	-	-46.88	267.98	51.82	22.97
Capital Expenditures, 1 Yr. Growth %	-	-0.31	-29.28	35.65	11.93
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-118.29	283.1	28.65
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-186.09	75.1	19.49
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	174.51	29.59	17.48
Gross Profit, 2 Yr. CAGR %	-	-	417.68	45.57	22.64
EBITDA, 2 Yr. CAGR %	-	-	38.72	101.49	28.43
EBITA, 2 Yr. CAGR %	-	-	5.51	221.14	36.74
EBIT, 2 Yr. CAGR %	-	-	4.41	218.18	35.66
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-6.2	-38.04	-21.22
Net Income, 2 Yr. CAGR %	-	-	-6.18	-38.18	-21.25
Normalized Net Income, 2 Yr. CAGR %	-	-	1.03	-38.71	-20.46
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-7.23	-31.65	-23.75
Accounts Receivable, 2 Yr. CAGR %	-	-	-36.81	-44	-43.58
Inventory, 2 Yr. CAGR %	-	-	29.23	41.98	32.44
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	13.6	10.37	11.68
Total Assets, 2 Yr. CAGR %	-	-	5.12	13.49	19.43
Tangible Book Value, 2 Yr. CAGR %	-	-	16.84	-71.78	-56.56
Common Equity, 2 Yr. CAGR %	-	-	17.36	-74.76	-54.46
Cash From Operations, 2 Yr. CAGR %	-	-	39.81	136.36	36.64
Capital Expenditures, 2 Yr. CAGR %	-	-	-16.04	-2.06	23.22
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-14.88	122
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	21.04	44.65
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	104.35	26.97
Gross Profit, 3 Yr. CAGR %	-	-	-	216.99	38.93
EBITDA, 3 Yr. CAGR %	-	-	-	34.05	75.91
EBITA, 3 Yr. CAGR %	-	-	-	13.42	143.1
EBIT, 3 Yr. CAGR %	-	-	-	12.72	141.82
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-58.32	42.29
Net Income, 3 Yr. CAGR %	-	-	-	-58.37	42.26
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-54.69	37.45
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-58.82	49.37
Accounts Receivable, 3 Yr. CAGR %	-	-	-	-37.56	-45.29
Inventory, 3 Yr. CAGR %	-	-	-	40.91	28.28
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	13.41	10.86
Total Assets, 3 Yr. CAGR %	-	-	-	9.6	15.9
Tangible Book Value, 3 Yr. CAGR %	-	-	-	-58.49	-34.37
Common Equity, 3 Yr. CAGR %	-	-	-	-61.45	-32.12
Cash From Operations, 3 Yr. CAGR %	-	-	-	43.71	90.1
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-1.48	2.4
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-2.32
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	20.53