Viking Holdings (VIK) Gross Margin (2023 - 2025)
Viking Holdings (VIK) reported Gross Margin of 41.37% for Q4 2025, up 231.0% year-over-year from 12.5% in Q4 2024, and down 12.12% quarter-over-quarter 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.
- Gross Margin for Q4 2025 came in at 41.37%, up 231.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 43.34% (up 172.0% YoY), and the FY2025 annual result was 43.34%, up 172.0% from the prior year.
- Gross Margin fell to 41.37% in Q4 2025 per VIK's latest filing, from 47.08% in the prior quarter.
- Over five years, Gross Margin peaked at 47.08% in Q3 2025 and troughed at 24.25% in Q1 2023.
- A 3-year average of 39.66% and a median of 42.08% in 2025 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin surged 558 bps in 2024, then soared 105 bps in 2025.
- A 3-year view of Gross Margin shows it stood at 37.54% in 2023, then rose by 4 bps to 39.07% in 2024, then grew by 6 bps to 41.37% in 2025.
- Business Quant data shows VIK's Gross Margin at 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 | 131.01 Bn | 114.99 Bn | 3.46 Bn | 62.62% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 78.30% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 49.53% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | - |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 89.00% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 40.89% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 85.00% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 96.36% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 78.84% |
| 10 | Viking Holdings | 405.54 Mn | -3.40 Bn | 713.43 Mn | 41.37% |
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% |