VIKViking Holdings Ltd
Is it safe?
Nothing alarming, nothing pristine: insiders quiet, comfortable debt (BBB), and typical volatility.
Insiders were net sellers (-$1.7M, 90 days to Oct 8, 2026), selling is often routine.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -35% · now 25% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can VIK take a bad year?
Viking Holdings Ltd carries $2.24B of net debt at 1.25× EBITDA: a load its earnings can carry.
Net debt · as at Q4 2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 1.25×
Net debt / EBITDA · 2.59× a year ago · the load is coming down
- Interest cover
- 4.14×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 40%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ4 2025
- $6.04B
- Cash and short-term investments
- $3.80B
- Net debt
- $2.24B
- EBITDA, trailing twelve months
- $1.79B
- Operating profit, trailing twelve months
- $1.50B
- Debt / equity
- 5.39×
- Total debt / EBITDA
- 3.38×
- Annualised volatilitytwo years of daily moves
- 40%
- Worst drawdown on file
- −35%
- Below its 52-week high
- 25%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.