Stock fact sheet · data as of
Viking Holdings Ltd (VIK): fair value, margin of safety and Wheel Score
Consumer Cyclical · Travel Services · Bermuda · High Growth
Is VIK undervalued?
At 82.60 (close of 16 Oct 2026), VIK trades within a few percent of the GLS average fair value of 91.28 (9.5% below fair value). 7 models produced a value and they split 3 above the price to 4 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
The 7 models disagree widely: Graham Number gives 15.85 while GLS Growth gives 184.75. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files VIK under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for VIK
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 15.85 | -81% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 170.27 | +106% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 74.24 | -10% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 184.75 | +124% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 67.73 | -18% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 92.61 | +12% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 33.53 | -59% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -14.81 | -118% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 107.92 | +31% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - VIK passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 6.9 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are high - ROIC 16.8%, ROE 104.9%, ROA 9.4% - with debt at 5.25 times equity and a free-cash-flow yield of 2.8%. Debt of 5.25 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
Viking Holdings Ltd pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Onboard and Other 100% (fiscal year FY2025).
Institutional ownership scores 6/10, insider activity 1/10 and Congressional trading 1/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 16.8% |
|---|---|---|---|
| GLS Moat | 6.9 / 10 | ROE | 104.9% |
| Debt / equity | 5.25 | ROA | 9.4% |
| Free-cash-flow yield | 2.8% | Payout ratio | 0% |
| Institutions | 6 / 10 | Insiders · Congress | 1 · 1 / 10 |
Wheel Score 77: Good
VIK scores 77 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 16/25), Piotroski health (11/20), the GLS moat (10/15), the option premium on offer (20/20) and how easily the stock trades (19/20). Health (11/20) is the part holding the score back.
Implied volatility is 44% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 47,601 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 5.5M shares a day on a market cap of $36.9B, with a beta of 1.47 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 16 / 25 | 10% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 10 / 15 | moat 6.9/10 | |
| Premium | 20 / 20 | implied volatility 44% | |
| Stability | 19 / 20 | 5.5M shares/day, $36.9B cap, beta 1.47 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 18 Nov 2026 (before the open), 33 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Travel Services
The 12 companies below are the closest to Viking Holdings Ltd by market cap within the Travel Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CCL Carnival Corporation & plc | 26.46 | 57.33 | +54% | 81Prime | $35.6B |
| EXPE Expedia Group, Inc. | 291.87 | 528.89 | +45% | 92Prime | $33.4B |
| TCOM Trip.com Group Limited | 38.88 | 286.58 | +86% | 88Prime | $25.3B |
| RCL Royal Caribbean Cruises Ltd. | 274.33 | 343.28 | +20% | 79Good | $73.6B |
| ABNB Airbnb, Inc. | 174.28 | 132.55 | -31% | 65Good | $104.4B |
| BKNG Booking Holdings Inc. | 165.80 | 284.93 | +42% | 88Prime | $124.6B |
| NCLH Norwegian Cruise Line Holdings Ltd. | 15.39 | 35.85 | +57% | 80Prime | $7.1B |
| MMYT MakeMyTrip Limited | 46.78 | 24.42 | -92% | 57Fair | $4.4B |
| TNL Travel + Leisure Co. | 62.63 | 100.40 | +38% | 80Prime | $3.8B |
| LIND Lindblad Expeditions Holdings, Inc. | 35.47 | 37.13 | +4% | 45Weak | $2.3B |
| PRSU Pursuit Attractions and Hospitality, Inc. | 53.34 | 34.57 | -54% | 51Fair | $1.5B |
| TRIP Tripadvisor, Inc. | 8.93 | 17.55 | +49% | 83Prime | $1.0B |
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Start free See the Sunday ScanQuestions about VIK
Is VIK undervalued right now?
Not meaningfully: at 82.60 the stock trades within a few percent of the GLS average fair value of 91.28 (9.5% below fair value, data as of 16 Oct 2026).
What is the Wheel Score of VIK and what does it mean?
VIK scores 77 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for VIK?
91.28 per share as of 16 Oct 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Viking Holdings Ltd report earnings next?
The next earnings report is due on 18 Nov 2026 (before the open), 33 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does VIK have listed options, and how liquid are they?
Yes. The nightly snapshot found 356 listed contracts with 47,601 open interest across all expiries and implied volatility of 44% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.