Viking Holdings (VIK) Operating Margin (2023 - 2025)
Viking Holdings' (VIK) quarterly Operating Margin came in at 61.84% in Q4 2025, up 4477.0% year-on-year from 1.35% in Q4 2024, and up 2.32% on a QoQ basis from 60.44% in Q3 2025.
Viking Holdings (VIK) Operating Margin (2023 - 2025) Analysis & Trends
Viking Holdings (VIK) has 3 years of Operating Margin data on file, last reported at 61.84% in Q4 2025.
- On a quarterly basis, Operating Margin rose 4477.0% year-over-year to 61.84% in Q4 2025; TTM through Dec 2025 was 51.88%, a 3173.0% increase from a year earlier, with the FY2025 full-year figure at 23.1%, up 294.0% from the prior year.
- Operating Margin for Q4 2025 stood at 61.84%, up from 60.44% in the prior quarter.
- Over the last five years, Operating Margin for VIK reached as high as 61.84% in Q4 2025 and fell as low as 18.42% in Q1 2023.
- Historically, Operating Margin has averaged 33.93% across 3 years, with a median of 44.03% in 2024.
- Across the five-year window, Operating Margin tumbled 4392 bps in 2024 and soared 4477 bps in 2025, its largest moves.
- Year by year, Operating Margin stood at 60.99% in 2023, then tumbled by 72 bps to 17.06% in 2024, then soared by 262 bps to 61.84% in 2025.
- Per Business Quant data, the three most recent Operating Margin figures were 61.84% in Q4 2025, 60.44% in Q3 2025, and 58.9% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 22.98% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 26.10% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 3.21% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | -12.11% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 61.84% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 12.77% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 7.33% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 9.99% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 16.11% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 0.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 61.84% |
| Sep 30, 2025 | 60.44% |
| Jun 30, 2025 | 58.90% |
| Mar 31, 2025 | -1.03% |
| Dec 31, 2024 | 17.06% |
| Sep 30, 2024 | 29.16% |
| Jun 30, 2024 | 26.86% |
| Mar 31, 2024 | -9.90% |
| Dec 31, 2023 | 60.99% |
| Sep 30, 2023 | 60.69% |
| Jun 30, 2023 | 60.59% |
| Mar 31, 2023 | -18.42% |