Viking Holdings (VIK) Cost of Revenue (2023 - 2025)
Viking Holdings (VIK) posted quarterly Cost of Revenue of $1.0 billion for Q4 2025, up 22.92% year-over-year from $822.4 million in Q4 2024, and down 4.46% quarter-over-quarter from $1.1 billion in Q3 2025.
Viking Holdings (VIK) Cost of Revenue (2023 - 2025) Analysis & Trends
Viking Holdings (VIK) has reported Cost of Revenue for 3 consecutive years, with $1.0 billion the latest figure, recorded in Q4 2025.
- In Q4 2025, Cost of Revenue rose 22.92% year-over-year to $1.0 billion; the TTM figure through Dec 2025 stood at $3.7 billion (up 18.3% YoY), while the FY2025 annual figure was $3.7 billion, up 18.3% from the prior year.
- Cost of Revenue slipped to $1.0 billion in Q4 2025 per VIK's latest filing, from $1.1 billion in the prior quarter.
- Across five years, Cost of Revenue topped out at $1.1 billion in Q3 2025 and bottomed at $476.5 million in Q1 2023.
- Historically, Cost of Revenue has averaged $804.1 million across 3 years, with a median of $837.9 million in 2023.
- Annual changes were most pronounced in 2024 — Cost of Revenue advanced 5.56% — and 2025, when it rose 22.92%.
- Viking Holdings' Cost of Revenue stood at $699.5 million in 2023, then rose by 17.57% to $822.4 million in 2024, then grew by 22.92% to $1.0 billion in 2025.
- Business Quant data shows VIK's Cost of Revenue at $1.0 billion in Q4 2025, $1.1 billion in Q3 2025, and $1.0 billion in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 2.37 Bn |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 633.00 Mn |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 2.55 Bn |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 1.01 Bn |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | - |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 403.00 Mn |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 483.00 Mn |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 1.59 Bn |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 72.67 Mn |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 356.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 1.01 Bn |
| Dec 31, 2025 | 1.01 Bn |
| Sep 30, 2025 | 1.06 Bn |
| Sep 30, 2025 | 1.06 Bn |
| Jun 30, 2025 | 1.02 Bn |
| Jun 30, 2025 | 1.02 Bn |
| Mar 31, 2025 | 593.66 Mn |
| Mar 31, 2025 | 593.66 Mn |
| Dec 31, 2024 | 822.44 Mn |
| Dec 31, 2024 | 822.44 Mn |
| Sep 30, 2024 | 909.12 Mn |
| Sep 30, 2024 | 909.12 Mn |
| Jun 30, 2024 | 878.60 Mn |
| Jun 30, 2024 | 878.60 Mn |
| Mar 31, 2024 | 503.93 Mn |
| Mar 31, 2024 | 503.93 Mn |
| Dec 31, 2023 | 699.52 Mn |
| Dec 31, 2023 | 699.52 Mn |
| Sep 30, 2023 | 843.43 Mn |
| Sep 30, 2023 | 843.43 Mn |