Viking (VIK)
Market Price (9/29/2026): $78.48 | Market Cap: $35.0 BilSector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines
Viking (VIK)
Market Price (9/29/2026): $78.48Market Cap: $35.0 BilSector: Consumer DiscretionaryIndustry: Hotels, Resorts & Cruise Lines
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 2.6 Bil Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Luxury Consumer Goods, and Travel & Leisure Tech. | Expensive valuation multiplesP/SPrice/Sales ratio is 5.1x Key risksVIK key risks include [1] its aggressive capacity expansion, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 2.6 Bil |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Luxury Consumer Goods, and Travel & Leisure Tech. |
| Expensive valuation multiplesP/SPrice/Sales ratio is 5.1x |
| Key risksVIK key risks include [1] its aggressive capacity expansion, Show more. |
Qualitative Assessment
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Viking (VIK) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Negative market reaction to Q2 fiscal 2026 earnings despite strong performance.
Despite Viking Holdings Ltd. reporting robust financial results for its second fiscal quarter ended June 30, 2026, with revenue increasing 16.5% year-over-year to $2.19 billion and adjusted EPS of $1.31 surpassing analyst estimates of $1.24-$1.26, the stock declined by 7.5% to 7.65% immediately following the announcement on August 19-20, 2026. This downturn was largely attributed to the stock's high valuation, with a trailing twelve-month (TTM) EV/EBITDA ratio near 22x and a forward Price/Earnings (P/E) ratio at 23.3x, both significantly above its peers, suggesting the market perceived the stock as overvalued even with strong earnings.
2. Operational disruptions due to historically low European river water levels impacting Q3 fiscal 2026.
Starting in mid-July 2026, historically low water levels on European rivers, including the Danube and Rhine, significantly disrupted Viking's river cruise operations. This affected over 50% of the company's river capacity passenger cruise days for the third fiscal quarter of 2026, resulting in 10-12% cruise cancellations among impacted itineraries. The company has issued future cruise vouchers to guests, which are expected to exert pressure on financial results into fiscal 2027 and fiscal 2028.
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Viking (VIK) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Negative market reaction to Q2 fiscal 2026 earnings despite strong performance.
Despite Viking Holdings Ltd. reporting robust financial results for its second fiscal quarter ended June 30, 2026, with revenue increasing 16.5% year-over-year to $2.19 billion and adjusted EPS of $1.31 surpassing analyst estimates of $1.24-$1.26, the stock declined by 7.5% to 7.65% immediately following the announcement on August 19-20, 2026. This downturn was largely attributed to the stock's high valuation, with a trailing twelve-month (TTM) EV/EBITDA ratio near 22x and a forward Price/Earnings (P/E) ratio at 23.3x, both significantly above its peers, suggesting the market perceived the stock as overvalued even with strong earnings.
2. Operational disruptions due to historically low European river water levels impacting Q3 fiscal 2026.
Starting in mid-July 2026, historically low water levels on European rivers, including the Danube and Rhine, significantly disrupted Viking's river cruise operations. This affected over 50% of the company's river capacity passenger cruise days for the third fiscal quarter of 2026, resulting in 10-12% cruise cancellations among impacted itineraries. The company has issued future cruise vouchers to guests, which are expected to exert pressure on financial results into fiscal 2027 and fiscal 2028.
3. High capital expenditures for fleet expansion raising concerns about capital allocation and debt.
Viking continued its aggressive fleet expansion strategy, committing substantial capital expenditures of approximately $1.9 billion for fiscal 2026 and $1.0 billion for fiscal 2027. While intended to drive future growth, these capital-intensive investments in new vessels exceeded the company's operating cash flow in the first half of fiscal 2026. This significant capital deployment raised market concerns regarding the effective absorption of new capacity and the company's ability to manage these investments alongside its elevated long-term debt, which stood at $5.56 billion as of March 31, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -13.9% change in VIK stock from 5/31/2026 to 9/28/2026 was primarily driven by a -23.3% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9282026 | Change |
|---|---|---|---|
| Stock Price ($) | 92.11 | 79.30 | -13.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,658 | 6,968 | 4.7% |
| Net Income Margin (%) | 18.0% | 19.3% | 7.4% |
| P/E Multiple | 34.3 | 26.3 | -23.3% |
| Shares Outstanding (Mil) | 446 | 446 | -0.1% |
| Cumulative Contribution | -13.9% |
Market Drivers
5/31/2026 to 9/28/2026| Return | Correlation | |
|---|---|---|
| VIK | -13.9% | |
| Market (SPY) | 1.5% | 35.1% |
| Sector (XLY) | -9.6% | 23.9% |
Fundamental Drivers
The 1.6% change in VIK stock from 2/28/2026 to 9/28/2026 was primarily driven by a 24.5% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9282026 | Change |
|---|---|---|---|
| Stock Price ($) | 78.02 | 79.30 | 1.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,127 | 6,968 | 13.7% |
| Net Income Margin (%) | 15.5% | 19.3% | 24.5% |
| P/E Multiple | 36.4 | 26.3 | -27.8% |
| Shares Outstanding (Mil) | 444 | 446 | -0.6% |
| Cumulative Contribution | 1.6% |
Market Drivers
2/28/2026 to 9/28/2026| Return | Correlation | |
|---|---|---|
| VIK | 1.6% | |
| Market (SPY) | 12.2% | 57.7% |
| Sector (XLY) | -6.4% | 50.1% |
Fundamental Drivers
The 24.6% change in VIK stock from 8/31/2025 to 9/28/2026 was primarily driven by a 37.3% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9282026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.62 | 79.30 | 24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,806 | 6,968 | 20.0% |
| Net Income Margin (%) | 14.1% | 19.3% | 37.3% |
| P/E Multiple | 34.5 | 26.3 | -23.8% |
| Shares Outstanding (Mil) | 443 | 446 | -0.7% |
| Cumulative Contribution | 24.6% |
Market Drivers
8/31/2025 to 9/28/2026| Return | Correlation | |
|---|---|---|
| VIK | 24.6% | |
| Market (SPY) | 20.0% | 53.7% |
| Sector (XLY) | -5.2% | 45.1% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2023 to 9/28/2026| Return | Correlation | |
|---|---|---|
| VIK | ||
| Market (SPY) | 76.5% | 62.1% |
| Sector (XLY) | 30.9% | 57.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VIK Return | - | - | - | 69% | 62% | 12% | 208% |
| Peers Return | -8% | -47% | 101% | 37% | 13% | 6% | 62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| VIK Win Rate | - | - | - | 75% | 67% | 56% | |
| Peers Win Rate | 48% | 46% | 56% | 56% | 50% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| VIK Max Drawdown | - | - | - | - | -35% | -27% | |
| Peers Max Drawdown | -43% | -65% | -42% | -29% | -41% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RCL, CCL, NCLH, LIND.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/28/2026 (YTD)
How Low Can It Go
| Event | VIK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.6% | -18.8% |
| % Gain to Breakeven | 50.6% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
In The Past
Viking's stock fell -33.6% during the 2025 US Tariff Shock. Such a loss loss requires a 50.6% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | VIK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.6% | -18.8% |
| % Gain to Breakeven | 50.6% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
In The Past
Viking's stock fell -33.6% during the 2025 US Tariff Shock. Such a loss loss requires a 50.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Viking (VIK)
Viking (VIK) is a leading global travel company specializing in destination-focused and culturally immersive cruise experiences across all seven continents. Operating as a "floating hotel" concept, Viking provides voyages in all three cruise industry categories: river (with 80 vessels), ocean (9 ships), and expedition (2 ships), with a significant pipeline of new vessels ordered through 2028. Its fleet of small, state-of-the-art ships allows access to unique ports and destinations, such as those in Europe, the Mediterranean, and the Mississippi River, setting it apart in the travel market.
Viking primarily serves an affluent, English-speaking demographic aged 55 and older, who prioritize cultural enrichment and exploration over traditional onboard entertainment. The company distinguishes itself through a consistent "one brand" luxury experience, identical small ships within each category for operational efficiency, and a clearly defined all-inclusive model that notably excludes children under 18, casinos, and hidden costs. With a strong direct marketing approach, Viking has achieved significant market shares in luxury river, ocean, and expedition cruising, positioning itself as the only pure-play luxury public cruise line focused on this attractive segment of the global leisure travel market.
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Here are 1-3 brief analogies for Viking (VIK):
National Geographic Expeditions on water
Abercrombie & Kent of cruises
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- River Cruising: Viking offers culturally immersive journeys on rivers worldwide, including iconic routes like the Mississippi River.
- Ocean Cruising: Viking provides destination-focused ocean voyages around the globe using a fleet of small, identical ocean ships.
- Expedition Cruising: Viking conducts extraordinary expeditions to remote destinations on all seven continents, focusing on exploration and cultural discovery.
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Viking (VIK) primarily sells its travel experiences directly to individual consumers, referred to as "guests." The company focuses on specific categories of customers:
- Curious, affluent, English-speaking travelers aged 55 years and older: This is Viking's explicitly stated core demographic, which they believe is an attractive segment of the travel market.
- Individuals seeking travel experiences that offer cultural insight and personal enrichment: Viking tailors its products to "the Thinking Person," attracting those who prioritize exploration of the destination and meaningful travel over traditional entertainment.
- Repeat guests: A significant portion of Viking's business comes from past travelers, with the repeat guest percentage reaching 51% for the 2023 season. Over 60% of bookings for inaugural seasons of new offerings were made by past guests, demonstrating strong brand loyalty.
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Torstein “Tor” Hagen, Chairman of the Board and Chief Executive Officer
Torstein “Tor” Hagen founded Viking in 1997. He has extensive experience in the shipping and cruise industry, having served as Chief Executive Officer of Bergen Line from 1976 to 1983 and of Royal Viking Line from 1981 to 1984. He was also a member of the board of directors of Holland America Line/HAL Holding N.V. from 1985 to 2015 and Kloster Cruise Ltd. from 1993 to 1994. Hagen was formerly a Partner at McKinsey & Company. He holds a degree in physics from the Norwegian Institute of Technology, where he completed his Master's Thesis related to artificial intelligence and machine learning, and an M.B.A. from Harvard University. He also studied computers at Wesleyan University as a Fulbright Scholar.
Leah Talactac, President and Chief Financial Officer
Leah Talactac is the President and Chief Financial Officer of Viking, leading the company's executive committee and overseeing its financial functions, including accounting, audit, corporate finance, tax, and investor relations. She joined Viking in 2006 and has over 25 years of experience in financial management, business leadership, and corporate strategy. Prior to her current role, she held senior positions at Viking, including Group Controller and Chief Accounting Officer, and was a Manager at Ernst & Young LLP in Los Angeles before joining Viking. Talactac led Viking's successful IPO in 2024. She holds a B.S. in Accounting from the University of Southern California.
Karine Hagen, Executive Vice President, Product
Karine Hagen is the Executive Vice President of Product. She is the daughter of Viking's CEO, Torstein Hagen, and previously served on the company's board of directors. Her prior experience includes positions with Arthur Andersen, J. Walter Thompson, Genesys, and Telenor. She holds degrees in Soviet Studies and Economics from Wellesley College, an M.A. in Russia and East European Studies from Stanford University, and an M.B.A. from BI Norwegian Business School.
Milton Hugh, Executive Vice President of Sales
Milton Hugh oversees Viking's North American sales department and worldwide yield management, including call centers and travel agent partnerships. Since joining Viking in 2006, he has served in various capacities, including accounting, finance, and revenue management. He has contributed to the company's growth through strategic initiatives such as establishing call centers in South Africa and the Philippines and launching Viking's Mississippi product.
Anton Hofmann, Executive Vice President, Group Operations
Anton "Tony" Hofmann serves as Executive Vice President responsible for Viking's worldwide river fleet operations. In this role, he leads strategic planning for the river fleet, encompassing new build planning, design, contracting, ship financing, and all day-to-day operations. With over thirty years of experience in the cruise industry, Hofmann has worked with Viking in various senior management functions since its inception in 1997. Prior to joining Viking, he was an Operations Manager for I.C.H.
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Key Business Risks for Viking (VIK)
The key business risks for Viking (VIK) include its significant net losses and high debt, its concentration on a specific demographic and geographic market, and the substantial capital expenditure required for its fleet expansion.
- Significant Net Losses and High Debt: Despite generating substantial total revenue of $4,710.5 million and Adjusted EBITDA of $1,090.3 million for the year ended December 31, 2023, Viking reported a net loss of $1,858.6 million. Concurrently, the company carried $5.4 billion in Total Debt as of December 31, 2023, against $1.5 billion in cash and cash equivalents. This considerable net loss, coupled with a high debt load, indicates potential challenges in achieving sustainable profitability and servicing its financial obligations, which could strain liquidity and financial stability in the long term.
- Concentration Risk in Demographics and Geographies: Viking's business model is intently focused on a core demographic of affluent, curious, English-speaking travelers aged 55 years and older. Furthermore, its itineraries primarily concentrate on destinations in Europe and the Mediterranean, across specific rivers and oceans, rather than the Caribbean. This high degree of concentration exposes the company to significant risks from adverse economic conditions impacting this specific demographic, or geopolitical instability, health crises, and environmental disruptions within its primary operating regions. Such events could disproportionately affect Viking compared to more geographically or demographically diversified cruise lines.
- High Capital Expenditure and Fleet Expansion Risk: Viking has ambitious growth plans, with orders for 18 new river vessels for delivery through 2026 and six new ocean ships for delivery through 2028. While intended to meet strong demand, this significant fleet expansion represents substantial future capital commitments. Given the company's current net loss and high debt, there is a risk associated with financing these new vessels, potential delays or cost overruns during shipbuilding, and the market's ability to absorb the increased capacity profitably. If demand does not keep pace with the rapid capacity growth or if operating costs for the new fleet are higher than anticipated, it could exacerbate existing financial pressures.
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Addressable Markets for Viking (VIK)
- North American River Cruise Market: The North America river cruise market is valued at USD 720 million, based on a five-year historical analysis. For 2025, the North American market revenue for river cruises is expected to reach USD 27.56 billion and grow to USD 33.95 billion by 2029.
- U.S. River Cruise Market: The U.S. river cruise market size was estimated at USD 197.9 million in 2024. It is projected to grow to USD 431.1 million by 2030.
- Mississippi River Cruise Market (U.S.): The Mississippi region accounted for the largest revenue share of 69.98% of the U.S. river cruise market in 2024. Based on the U.S. market size of USD 197.9 million in 2024, this would approximate a market size of around USD 138.5 million for the Mississippi River cruise market in 2024.
- Global Luxury Ocean Cruise Market: The global luxury cruise ships market size was valued at around USD 10.37 billion in 2025 and is projected to reach USD 22.81 billion by 2035. Another report indicates the Luxury Cruise Tourism Market size was valued at USD 9.11 billion in 2024 and is expected to grow to USD 23.08 billion by 2032. The global ultra-luxury cruise market is also forecast to be worth US$18.7 billion by 2033, up from US$8.1 billion in 2024.
- Global Expedition Cruise Market: The cruise ship expedition market size is estimated at USD 1,520.75 million in 2024 and is projected to reach USD 3,267.30 million by 2032. Another estimate for the cruise tourism market size for expedition itineraries indicates it is set to climb from USD 7.9 billion in 2025 to USD 14.1 billion by 2031.
- Antarctic Expedition Cruise Market (Passenger Volume): The total seaborne tourist count to Antarctica is estimated to be around 117,000 for the 2023-2024 season. The 2022-2023 season saw 104,076 passengers. For 2024-2025, IAATO estimates 107,270 visitors.
- Global Luxury Leisure Travel Market (Broader Category): The global luxury travel market size was evaluated at USD 1.50 trillion in 2023 and is slated to hit USD 3.30 trillion by the end of 2032. Another source values it at USD 2,190.32 billion in 2025, projected to grow to USD 4,547.19 billion by 2034.
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For Viking (VIK), the following are expected drivers of future revenue growth over the next 2-3 years:
- Capacity Expansion through New Ship Deliveries: Viking has a clear plan to significantly increase its fleet, with 18 new river vessels slated for delivery through 2026 and six new ocean ships expected through 2028. This expansion directly increases available capacity and the number of itineraries offered, addressing strong demand and leading to higher potential revenue.
- Sustained Demand from Strong Brand Loyalty and Effective Direct Marketing: Viking benefits from high customer retention, with its repeat guest percentage steadily increasing to 51% for the 2023 season. This loyalty is further bolstered by Viking's substantial investment in direct marketing, which has created a database of over 56 million North American households and enables industry-leading early booking rates, ensuring a consistent pipeline of guests.
- Strategic Focus on High-Yield Luxury Segments and Differentiated Destination-Focused Experiences: Viking positions itself as the only pure-play luxury public cruise line, targeting affluent, curious, English-speaking travelers aged 55 and older. Its distinct, all-inclusive, destination-focused approach, which avoids elements like casinos or children under 18, resonates strongly with this demographic. This strategic focus on high-growth, high-yield luxury segments of the river, ocean, and expedition cruise markets allows Viking to command premium pricing and attract a loyal customer base, supporting continued revenue growth.
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Capital Expenditures
- Viking has ordered 18 new river vessels for delivery through 2026.
- Six new ocean ships are on order for delivery through 2028.
- The primary focus of capital expenditures is on fleet expansion with new river and ocean vessels.
Peer Outperformance in Hotels, Resorts & Cruise Lines
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -22.8% | 70.2% | 62.0% | LINC 228% · CVSA 207% · PRDO 201% |
| Homebuilding | 18 | -6.7% | 33.9% | 50.4% | GRBK 222% · PHM 161% · TOL 150% |
| Specialty Stores | 7 | 5.9% | 41.7% | 18.8% | SIG 29% · ASO 24% · FIVE 23% |
| Hotels, Resorts & Cruise Lines ← | 22 | 16.7% | 44.9% | -1.8% | RCL 177% · MAR 146% · HLT 140% |
| Home Improvement Retail | 5 | -27.3% | -4.1% | -2.3% | HVT 10% · LOW 0% · HD -2% |
| Automotive Retail | 18 | -20.4% | -6.6% | -9.1% | MUSA 213% · PAG 116% · ORLY 107% |
| Footwear | 10 | 49.7% | 44.9% | -10.6% | WEYS 175% · DECK 26% · SHOO 19% |
| Distributors | 4 | -11.8% | -25.2% | -14.4% | ARMK 137% · GPC 19% · LKQ -48% |
| Restaurants | 35 | -7.7% | -12.5% | -16.0% | EAT 296% · CAKE 148% · BH 104% |
| Home Furnishings | 4 | -7.6% | 24.3% | -16.8% | SGI 36% · LZB -2% · MHK -32% |
| Specialized Consumer Services | 10 | -15.7% | 12.7% | -19.7% | HRB 89% · FTDR 77% · SCI 38% |
| Leisure Products | 13 | -25.8% | -21.6% | -38.9% | GOLF 86% · HAS 19% · MCFT -22% |
| Household Appliances | 18 | -3.4% | -0.6% | -41.9% | FLXS 211% · HBB 179% · KEQU 161% |
| Leisure Facilities | 11 | -19.9% | -14.0% | -42.8% | OSW 138% · JAKK 116% · ESCA 17% |
| Automotive Parts & Equipment | 37 | -12.8% | -10.8% | -43.6% | MOD 1412% · GTX 258% · CAAS 78% |
| Apparel Retail | 26 | 0.1% | 10.9% | -44.5% | ANF 229% · URBN 141% · ROST 118% |
| Casinos & Gaming | 21 | -20.2% | -28.1% | -44.8% | MCRI 93% · RRR 23% · LVS 14% |
| Computer & Electronics Retail | 3 | -9.3% | 45.6% | -45.5% | BBY 4% · GME -46% · UPBD -64% |
| Apparel, Accessories & Luxury Goods | 29 | -12.1% | 4.9% | -50.2% | RL 237% · TPR 233% · ELA 210% |
| Broadline Retail | 15 | 0.0% | 22.9% | -53.7% | DDS 338% · EBAY 67% · AMZN 49% |
| Consumer Electronics | 11 | -13.1% | -23.7% | -73.4% | AXIL 2792% · GRMN 106% · SONO -45% |
| Automobile Manufacturers | 8 | -77.6% | -49.7% | -74.6% | GM 59% · TSLA 37% · F 18% |
| Other Specialty Retail | 18 | -37.5% | -46.9% | -80.1% | TLF 107% · BBW 73% · WINA 58% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Would You Still Hold Viking Stock If It Fell 30%? | 10/17/2025 | |
| VIK Dip Buy Analysis | 07/10/2025 | |
| Viking (VIK) Valuation Ratios Comparison | 05/15/2025 | |
| Viking (VIK) Operating Cash Flow Comparison | 02/17/2025 | |
| Viking (VIK) Net Income Comparison | 02/16/2025 | |
| Viking (VIK) Operating Income Comparison | 02/15/2025 | |
| Viking (VIK) Revenue Comparison | 02/14/2025 | |
| ARTICLES | ||
| 11 Large Cap Stocks Just Made New 52-Week Highs | 08/04/2026 | |
| Large Cap Stocks Trading At 52-Week High | 06/25/2026 | |
| Mid Cap Stocks Trading At 52-Week High | 04/15/2026 |
Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.22 |
| Mkt Cap | 34.4 |
| Rev LTM | 10,154 |
| Op Inc LTM | 1,621 |
| FCF LTM | 109 |
| FCF 3Y Avg | 872 |
| CFO LTM | 2,633 |
| CFO 3Y Avg | 2,110 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.7% |
| Rev Chg 3Y Avg | 16.2% |
| Rev Chg Q | 6.5% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 18.3% |
| Op Inc Chg 3Y Avg | 169.4% |
| Op Mgn LTM | 16.9% |
| Op Mgn 3Y Avg | 14.8% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 24.3% |
| CFO/Rev 3Y Avg | 23.1% |
| FCF/Rev LTM | 11.1% |
| FCF/Rev 3Y Avg | 8.2% |
Price Behavior
| Market Price | $79.30 | |
| Market Cap ($ Bil) | 35.4 | |
| First Trading Date | 05/01/2024 | |
| Distance from 52W High | -26.8% | |
| 50 Days | 200 Days | |
| DMA Price | $93.43 | $83.63 |
| DMA Trend | up | down |
| Distance from DMA | -15.1% | -5.2% |
| 3M | 1YR | |
| Volatility | 34.3% | 40.4% |
| Downside Capture | 261.32 | 148.92 |
| Upside Capture | 71.12 | 154.56 |
| Correlation (SPY) | 35.3% | 53.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.45 | 1.18 | 0.92 | 1.94 | 1.72 | -0.02 |
| Up Beta | 1.91 | 1.28 | 1.96 | 3.21 | 2.76 | -0.13 |
| Down Beta | -3.28 | -0.50 | -0.32 | 1.29 | 1.19 | -0.19 |
| Up Capture | -5% | 73% | 82% | 178% | 206% | 216% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 16 | 27 | 58 | 122 | 314 |
| Down Capture | 470% | 243% | 122% | 155% | 131% | 101% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 26 | 37 | 69 | 128 | 265 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VIK | |
|---|---|---|---|---|
| VIK | 32.3% | 40.3% | 0.78 | - |
| Sector ETF (XLY) | -7.2% | 19.5% | -0.51 | 45.7% |
| Equity (SPY) | 17.4% | 13.0% | 0.96 | 53.8% |
| Gold (GLD) | 9.7% | 29.6% | 0.31 | 15.0% |
| Commodities (DBC) | 42.7% | 20.7% | 1.60 | -39.1% |
| Real Estate (VNQ) | 4.3% | 13.6% | 0.06 | 33.9% |
| Bitcoin (BTCUSD) | -23.0% | 44.8% | -0.46 | 12.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VIK | |
|---|---|---|---|---|
| VIK | 24.7% | 40.2% | 1.24 | - |
| Sector ETF (XLY) | 4.8% | 24.1% | 0.16 | 57.2% |
| Equity (SPY) | 13.5% | 17.2% | 0.60 | 62.2% |
| Gold (GLD) | 18.1% | 18.9% | 0.77 | 9.5% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | -9.0% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 40.1% |
| Bitcoin (BTCUSD) | 14.4% | 52.4% | 0.45 | 22.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VIK | |
|---|---|---|---|---|
| VIK | 11.6% | 40.2% | 1.24 | - |
| Sector ETF (XLY) | 11.9% | 22.2% | 0.49 | 57.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 62.2% |
| Gold (GLD) | 11.7% | 16.4% | 0.58 | 9.5% |
| Commodities (DBC) | 8.5% | 18.1% | 0.38 | -9.0% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 40.1% |
| Bitcoin (BTCUSD) | 63.8% | 66.2% | 1.03 | 22.6% |
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Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 6-K |
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 03/03/2026 | 20-F |
| 09/30/2025 | 11/19/2025 | 6-K |
| 06/30/2025 | 08/19/2025 | 6-K |
| 03/31/2025 | 05/20/2025 | 6-K |
| 12/31/2024 | 03/11/2025 | 20-F |
| 09/30/2024 | 11/19/2024 | 6-K |
| 06/30/2024 | 08/22/2024 | 6-K |
| 03/31/2024 | 05/29/2024 | 6-K |
| 12/31/2023 | 05/02/2024 | 424B4 |
| 09/30/2023 | 02/07/2024 | DRS/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 6-K |
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 03/03/2026 | 20-F |
| 09/30/2025 | 11/19/2025 | 6-K |
| 06/30/2025 | 08/19/2025 | 6-K |
| 03/31/2025 | 05/20/2025 | 6-K |
| 12/31/2024 | 03/11/2025 | 20-F |
| 09/30/2024 | 11/19/2024 | 6-K |
| 06/30/2024 | 08/22/2024 | 6-K |
| 03/31/2024 | 05/29/2024 | 6-K |
| 12/31/2023 | 05/02/2024 | 424B4 |
| 09/30/2023 | 02/07/2024 | DRS/A |
Insider Activity
Updated 6/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6172026 | 95.33 | 94,276 | 8,987,545 | 27,915,099 | Form |
| 2 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 94.67 | 159 | 15,053 | 10,486,705 | Form |
| 3 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 94.30 | 6,120 | 577,140 | 10,461,130 | Form |
| 4 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 92.85 | 11,287 | 1,048,002 | 10,868,131 | Form |
| 5 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6122026 | 91.00 | 5,956 | 541,996 | 35,225,645 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6172026 | 95.33 | 94,276 | 8,987,545 | 27,915,099 | Form |
| 2 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 94.67 | 159 | 15,053 | 10,486,705 | Form |
| 3 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 94.30 | 6,120 | 577,140 | 10,461,130 | Form |
| 4 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6162026 | 92.85 | 11,287 | 1,048,002 | 10,868,131 | Form |
| 5 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6122026 | 91.00 | 5,956 | 541,996 | 35,225,645 | Form |
| 6 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6102026 | 91.32 | 65,283 | 5,961,644 | 35,893,417 | Form |
| 7 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6102026 | 89.24 | 120,000 | 10,709,260 | 40,903,482 | Form |
| 8 | Hugh, Milton | EVP, Sales | Direct | Sell | 6032026 | 91.63 | 4,610 | 422,434 | 55,491,059 | Form |
| 9 | Talactac, Leah | President and CEO | Direct | Sell | 6032026 | 91.45 | 5,961 | 545,120 | 16,003,711 | Form |
| 10 | Banh, Linh | Chief Financial Officer | Direct | Sell | 6032026 | 91.45 | 5,961 | 545,106 | 11,653,804 | Form |
| 11 | Marnell, Richard | EVP, Marketing | Direct | Sell | 6032026 | 91.45 | 5,961 | 545,159 | 11,736,961 | Form |
| 12 | Dash, Jeffrey | EVP, Business Development | Direct | Sell | 6032026 | 91.11 | 621 | 56,579 | 18,993,519 | Form |
| 13 | Hofmann, Anton | EVP, Group Operations | Direct | Sell | 6032026 | 91.14 | 621 | 56,598 | 52,709,361 | Form |
| 14 | Dash, Jeffrey | EVP, Business Development | Spouse | Sell | 4162026 | 80.23 | 46,369 | 3,720,185 | 33,698,365 | Form |
| 15 | Dash, Jeffrey | EVP, Business Development | Spouse | Sell | 4102026 | 80.22 | 28,631 | 2,296,779 | 37,413,886 | Form |
| 16 | Dash, Jeffrey | EVP, Business Development | Spouse | Sell | 3272026 | 75.15 | 25,000 | 1,878,750 | 37,200,903 | Form |
Investor Activity (13F)
Updated Sep 29, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Dream Peak Capital Ltd | $147.7 Mil | 21.9% | 6 | TRIM -35.9% | 13F |
| Forest Avenue Capital Management LP | $149.7 Mil | 9.5% | 25 | TRIM -28.8% | 13F |
| ThornTree Capital Partners LP | $49.8 Mil | 8.8% | 16 | ADD +9.2% | 13F |
| 140 Summer Partners LP | $84.5 Mil | 7.5% | 20 | ADD +22.0% | 13F |
| Hook Mill Capital Partners, LP | $36.9 Mil | 3.3% | 39 | Hold | 13F |
| GCM Grosvenor Holdings, LLC | $11.6 Mil | 1.3% | 22 | TRIM -26.9% | 13F |
| Castle Hook Partners LP | $46.6 Mil | 0.9% | 44 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| KADENSA CAPITAL Ltd | $13.1 Mil | 1.4% | 43 | Exited | Dec 31, 2025 | 13F |
| Wealth High Governance Capital Ltda | $5.2 Mil | 1.0% | 46 | Exited | Dec 31, 2025 | 13F |
| Dream Peak Capital Ltd | $147.7 Mil | 21.9% | 6 | TRIM -35.9% | Mar 31, 2026 | 13F |
| Forest Avenue Capital Management LP | $149.7 Mil | 9.5% | 25 | TRIM -28.8% | Mar 31, 2026 | 13F |
| GCM Grosvenor Holdings, LLC | $11.6 Mil | 1.3% | 22 | TRIM -26.9% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Forest Avenue Capital Management LP | $149.7 Mil | 9.5% | 25 | TRIM -28.8% | 13F |
| Dream Peak Capital Ltd | $147.7 Mil | 21.9% | 6 | TRIM -35.9% | 13F |
| 140 Summer Partners LP | $84.5 Mil | 7.5% | 20 | ADD +22.0% | 13F |
| ThornTree Capital Partners LP | $49.8 Mil | 8.8% | 16 | ADD +9.2% | 13F |
| Castle Hook Partners LP | $46.6 Mil | 0.9% | 44 | New | 13F |
| Hook Mill Capital Partners, LP | $36.9 Mil | 3.3% | 39 | Hold | 13F |
| GCM Grosvenor Holdings, LLC | $11.6 Mil | 1.3% | 22 | TRIM -26.9% | 13F |
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Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Hotels, Resorts & Cruise Lines Resources |
| Skift |
| Hotel News Now |
| Cruise Industry News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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