Viking Holdings Ltd (VIK) financial statements: income statement, balance sheet and cash flow
Viking Holdings Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Viking Holdings Ltd reported revenue of $6.5B (+21.9% year on year) and net income of $1.1B (+650.5% year on year).
Income statement
Viking Holdings Ltd income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Total revenue
$6.5B
$5.3B
Total cruise operating expenses
($3.7B)
($3.1B)
Selling and administration
($1.0B)
($883.9M)
Depreciation, amortization and impairment
($284.8M)
($260.8M)
Total other operating expenses
($1.3B)
($1.1B)
Operating income
$1.5B
$1.1B
Interest income
$84.9M
$69.4M
Interest expense
($362.6M)
($380.5M)
Currency (loss) gain
($56.1M)
$31.5M
Private Placement derivative loss
$0
($364.2M)
Other financial income (loss)
$13.0K
($261.4M)
Income (loss) before income taxes
$1.2B
$169.8M
Income tax expense
($19.7M)
($16.9M)
Net income (loss)
$1.1B
$153.0M
Net income (loss) attributable to Viking Holdings Ltd
$1.1B
$152.3M
Net income attributable to non-controlling interests
$525.0K
$646.0K
Basic
443.5M
364.0M
Diluted
446.4M
366.7M
Basic
$2.59
$0.36
Diluted
$2.57
$0.36
Viking Holdings Ltd income statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Total revenue
$3.2B
$1.1B
$4.8B
$2.8B
Total cruise operating expenses
($1.9B)
($694.1M)
($2.7B)
($1.6B)
Selling and administration
($540.9M)
($272.2M)
($759.2M)
($492.2M)
Depreciation and amortization
($159.5M)
($75.4M)
($204.0M)
($134.2M)
Total other operating expenses
($700.3M)
($347.6M)
($963.2M)
($626.4M)
Operating income
$656.0M
$12.1M
$1.1B
$536.3M
Interest income
$50.3M
$23.4M
$57.5M
$39.9M
Interest expense
($159.0M)
($76.9M)
($277.6M)
($170.7M)
Currency gain (loss)
$3.4M
($1.3M)
($58.3M)
($62.9M)
Other financial income (loss)
($5.3M)
($6.4M)
($73.0K)
($1.1M)
Income before income taxes
$545.4M
($49.1M)
$862.5M
$341.5M
Income tax expense
($11.9M)
($5.1M)
($14.7M)
($7.8M)
Net income
$533.5M
($54.2M)
$847.8M
$333.8M
Net income attributable to Viking Holdings Ltd
$533.1M
($54.4M)
$847.7M
$333.6M
Net income attributable to non-controlling interests
$403.0K
$143.0K
$130.0K
$210.0K
Basic
446.1M
445.9M
443.2M
443.1M
Diluted
447.9M
445.9M
446.0M
445.3M
Basic
$1.19
-$0.12
$1.91
$0.75
Diluted
$1.19
-$0.12
$1.90
$0.75
Balance sheet
Viking Holdings Ltd balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Property, plant and equipment and intangible assets
$7.3B
$6.5B
Right-of-use assets
$278.8M
$263.4M
Deferred tax assets
$55.2M
$55.4M
Other non-current assets
$140.6M
$115.5M
Total non-current assets
$7.7B
$6.9B
Cash and cash equivalents
$3.8B
$2.5B
Accounts and other receivables
$142.0M
$238.8M
Inventories
$95.8M
$91.5M
Prepaid expenses and other current assets
$461.2M
$396.4M
Total current assets
$4.5B
$3.2B
Total assets
$12.2B
$10.1B
Share capital
$4.5M
$4.5M
Share premium
$5.0B
$5.0B
Treasury shares
-124.1M
-124.1M
Other paid-in equity
$311.2M
$213.3M
Other components of equity
$36.1M
($36.1M)
Retained losses
($4.2B)
($5.3B)
Equity attributable to shareholders of Viking Holdings Ltd
$1.1B
($222.7M)
Non-controlling interests
$27.6M
$3.8M
Total shareholders' equity
$1.1B
($219.0M)
Long-term debt
$5.1B
$1.8B
Long-term portion of lease liabilities
$212.4M
$207.6M
Other non-current liabilities
$54.3M
$45.3M
Total non-current liabilities
$5.4B
$5.1B
Accounts payables
$259.0M
$236.4M
Current portion of long-term debt
$374.6M
$220.1M
Short-term portion of lease liabilities
$26.5M
$28.9M
Deferred revenue
$4.6B
$4.1B
Accrued expenses and other current liabilities
$452.0M
$424.1M
Total current liabilities
$5.7B
$5.2B
Total shareholders' equity and liabilities
$12.2B
$10.1B
Viking Holdings Ltd balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Property, plant and equipment and intangible assets
$8.4B
$7.7B
$7.2B
$7.2B
Right-of-use assets
$290.5M
$273.4M
$283.4M
$248.8M
Deferred tax assets
$53.8M
$54.1M
$54.3M
$57.6M
Other non-current assets
$136.7M
$148.3M
$166.9M
$180.9M
Total non-current assets
$8.9B
$8.2B
$7.7B
$7.7B
Cash and cash equivalents
$4.0B
$4.0B
$3.0B
$2.6B
Accounts and other receivables
$147.5M
$154.7M
$130.2M
$171.3M
Inventories
$110.4M
$118.1M
$98.6M
$92.1M
Prepaid expenses and other current assets
$671.4M
$690.6M
$587.8M
$593.1M
Total current assets
$4.9B
$5.0B
$3.9B
$3.5B
Total assets
$13.8B
$13.2B
$11.5B
$11.1B
Total shareholders' equity
$1.7B
$1.1B
$803.5M
$278.3M
Long-term debt
$5.7B
$5.4B
$1.3B
$2.1B
Long-term portion of lease liabilities
$219.0M
$205.6M
$218.9M
$191.9M
Other non-current liabilities
$81.3M
$74.5M
$46.0M
$51.8M
Total non-current liabilities
$6.0B
$5.7B
$4.6B
$5.4B
Accounts payables
$327.4M
$342.5M
$263.3M
$287.1M
Current portion of long-term debt
$205.9M
$177.0M
$1.1B
$249.8M
Short-term portion of lease liabilities
$29.2M
$27.9M
$27.2M
$28.6M
Deferred revenue
$5.0B
$5.4B
$4.3B
$4.4B
Accrued expenses and other current liabilities
$490.4M
$467.4M
$442.5M
$450.1M
Total current liabilities
$6.1B
$6.4B
$6.1B
$5.4B
Total shareholders' equity and liabilities
$13.8B
$13.2B
$11.5B
$11.1B
Cash flow statement
Viking Holdings Ltd cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Net income (loss)
$1.1B
$153.0M
Depreciation, amortization and impairment
$284.8M
$260.8M
Amortization of debt transaction costs
$31.7M
$31.7M
Loss on prepayment and modifications of debt
$17.2M
—
Private Placement derivative loss
$0
$364.2M
Foreign currency loss (gain) on debt
$73.2M
—
Non-cash financial loss (gain)
($2.8M)
$258.6M
Share based compensation expense
$88.5M
$14.1M
Interest income
($84.9M)
($69.4M)
Interest expense
$313.7M
$348.8M
Other
($1.0K)
—
Increase in deferred revenue
$543.8M
$574.8M
Changes in other liabilities and assets
$125.2M
$184.2M
Increase in inventories
($4.3M)
($36.6M)
Changes in deferred tax assets and liabilities
$11.9M
$9.2M
Changes in other non-current assets and other non-current liabilities
$20.3M
$19.4M
Income taxes paid
($6.1M)
($4.8M)
Net cash flow from operating activities
$2.6B
$2.1B
Investments in property, plant and equipment and intangible assets
($1.0B)
($917.4M)
Capital contribution to associated company
($6.5M)
($8.5M)
Prepayment for vessel charter
$0
$0
Interest received
$83.6M
$71.8M
Other
$245.0K
—
Net cash flow used in investing activities
($949.5M)
($853.7M)
Repayment of long-term debt
($2.0B)
($308.8M)
Proceeds from long-term debt
$2.1B
$401.0M
Transaction costs incurred for long-term debt
($66.0M)
—
Proceeds from initial public offering, net of underwriting discounts and commissions, and offering expenses
$0
$243.9M
Taxes paid related to net share settlement of equity awards
0
-124.1M
Dividend distribution
$0
($18.9M)
Proceeds from issuance of ordinary shares from equity plans
22.3M
—
Penalties paid for early extinguishment of debt
$0
$0
Principal payments for lease liabilities
($39.5M)
($30.7M)
Interest payments for lease liabilities
($19.0M)
($20.9M)
Interest paid
($314.2M)
($355.1M)
Other
($867.0K)
$87.0K
Net cash flow used in financing activities
($306.0M)
($247.9M)
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes, Total
$1.3B
$980.4M
Effect of exchange rate changes on cash and cash equivalents
$9.4M
($4.4M)
Net increase (decrease) in cash and cash equivalents
$1.3B
$976.0M
Cash and cash equivalents at January 1
$2.5B
$1.5B
Cash and cash equivalents at December 31
$3.8B
$2.5B
Viking Holdings Ltd cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$533.5M
($54.2M)
$847.8M
$333.8M
Depreciation and amortization
$159.5M
$75.4M
$204.0M
$134.2M
Amortization of debt transaction costs
$16.0M
$7.7M
$22.4M
$14.0M
Foreign currency (gain) loss on debt
($15.7M)
($11.6M)
—
—
Share based compensation expense
$37.9M
$18.5M
$64.5M
$36.4M
Interest income
($50.3M)
($23.4M)
($57.5M)
($39.9M)
Interest expense
$143.1M
$69.2M
$235.5M
$156.7M
Other
$5.2M
$5.2M
($1.0K)
($1.0K)
Increase in deferred revenue
$435.7M
$815.1M
$259.1M
$330.1M
Changes in other liabilities and assets
($147.8M)
($153.4M)
$64.0M
$18.2M
Increase in inventories
($14.6M)
($22.3M)
($7.1M)
($601.0K)
Changes in deferred tax assets and liabilities
$6.2M
$2.3M
$7.9M
$3.1M
Changes in other non-current assets and other non-current liabilities
$30.7M
$16.4M
($5.4M)
$3.2M
Income taxes paid
($8.1M)
($2.8M)
($5.8M)
($4.2M)
Net cash flow from operating activities
$1.1B
$742.2M
$1.7B
$1.1B
Investments in property, plant and equipment and intangible assets
($1.3B)
($530.9M)
($868.9M)
($814.4M)
Capital contribution to associated company
$0
—
($6.5M)
($6.5M)
Loan to related party
($36.9M)
($36.9M)
—
—
Proceeds from repayment of related party loan
$31.3M
$31.3M
—
—
Interest received
$50.2M
$23.5M
$55.8M
$31.1M
Net cash flow used in investing activities
($1.2B)
($513.0M)
($819.4M)
($789.8M)
Repayment of long-term debt
($317.7M)
($234.9M)
($438.4M)
($372.9M)
Proceeds from long-term debt
$800.0M
$336.1M
$430.5M
$430.5M
Transaction costs incurred for long-term debt
($45.2M)
($3.7M)
—
—
Proceeds from issuance of ordinary shares from equity plans
10.1M
5.1M
—
—
Principal payments for lease liabilities
($13.3M)
($6.9M)
($29.9M)
($17.5M)
Interest payments for lease liabilities
($9.1M)
($4.6M)
($14.3M)
($9.5M)
Interest paid
($160.0M)
($83.2M)
($281.1M)
($159.1M)
Other
($559.0K)
($559.0K)
$245.0K
$1.0K
Net cash flow from (used in) financing activities
$264.2M
$7.5M
($363.7M)
($161.7M)
Change in cash and cash equivalents
$173.4M
$236.6M
$539.4M
$107.1M
Effect of exchange rate changes on cash and cash equivalents