Viking Holdings (VIK) Gross Margin (2023 - 2025)
Viking Holdings' (VIK) quarterly Gross Margin came in at 41.37% in Q4 2025, up 231.0% year-on-year from 12.5% in Q4 2024, and down 12.12% on a QoQ basis from 47.08% in Q3 2025.
Viking Holdings (VIK) Gross Margin (2023 - 2025) Analysis & Trends
Viking Holdings (VIK) has 3 years of Gross Margin data on file, last reported at 41.37% in Q4 2025.
- On a quarterly basis, Gross Margin rose 231.0% year-over-year to 41.37% in Q4 2025; TTM through Dec 2025 was 43.34%, a 172.0% increase from a year earlier, with the FY2025 full-year figure at 43.34%, up 172.0% from the prior year.
- Gross Margin for Q4 2025 stood at 41.37%, down from 47.08% in the prior quarter.
- Over the last five years, Gross Margin for VIK reached as high as 47.08% in Q3 2025 and fell as low as 24.25% in Q1 2023.
- Historically, Gross Margin has averaged 39.66% across 3 years, with a median of 42.08% in 2025.
- Across the five-year window, Gross Margin soared 558 bps in 2024 and jumped 105 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 37.54% in 2023, then climbed by 4 bps to 39.07% in 2024, then gained by 6 bps to 41.37% in 2025.
- Per Business Quant data, the three most recent Gross Margin figures were 41.37% in Q4 2025, 47.08% in Q3 2025, and 45.7% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 62.62% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 49.53% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 78.30% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 55.39% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 41.37% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 89.00% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 40.89% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 79.62% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 58.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 41.37% |
| Sep 30, 2025 | 47.08% |
| Jun 30, 2025 | 45.70% |
| Mar 31, 2025 | 33.82% |
| Dec 31, 2024 | 39.07% |
| Sep 30, 2024 | 45.85% |
| Jun 30, 2024 | 44.65% |
| Mar 31, 2024 | 29.83% |
| Dec 31, 2023 | 37.54% |
| Sep 30, 2023 | 44.02% |
| Jun 30, 2023 | 42.79% |
| Mar 31, 2023 | 24.25% |