Invesaro

Stocks Comparison

Norwegian Cruise Line vs Viking: revenue, profit, margins and growth compared

Norwegian Cruise Line brought in $9.8B of revenue in fiscal 2025, Viking $6.5B in fiscal 2025. Revenue changed by +3.7% at Norwegian Cruise Line and +21.9% at Viking on the year before, so Viking grew faster. Norwegian Cruise Line kept 4.3% of its revenue as net profit, Viking 17.7%.

Side by side, latest fiscal year

NCLHVIK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$9.8B$6.5B
Revenue growth+3.7%+21.9%
Net income$423.2M$1.1B
Net margin4.3%17.7%
Free cash flow-$1.2Bn/a
Free cash flow margin-11.9%n/a
Earnings per share (diluted)$0.92$2.57
Cash$209.9M$3.8B
Debt$14.6B$5.7B
Price to earnings15.9n/a
Market value$6.7B$35.8B
Dividend yieldn/an/a
Rank by revenue in sector#122 of 778 · Consumer discretionary#165 of 778 · Consumer discretionary

Over the years

Revenue
NCLH FY2018: $6.1BNCLH FY2019: $6.5BNCLH FY2020: $1.3BNCLH FY2021: $648MNCLH FY2022: $4.8BNCLH FY2023: $8.5BNCLH FY2024: $9.5BNCLH FY2025: $9.8BVIK FY2022: $3.2BVIK FY2024: $4.7BVIK FY2024: $5.3BVIK FY2025: $6.5BFY18FY19FY20FY21FY22FY23FY24FY25
NCLH $9.8BVIK $6.5B
Net income
NCLH FY2018: $954.8MNCLH FY2019: $930.2MNCLH FY2020: -$4BNCLH FY2021: -$4.5BNCLH FY2022: -$2.3BNCLH FY2023: $166.2MNCLH FY2024: $910.3MNCLH FY2025: $423.2MVIK FY2022: $414.7MVIK FY2024: -$1.9BVIK FY2024: $152.3MVIK FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
NCLH $423.2MVIK $1.1B
Net margin
NCLH FY2018: 15.8%NCLH FY2019: 14.4%NCLH FY2020: -313.5%NCLH FY2021: -695.5%NCLH FY2022: -46.9%NCLH FY2023: 1.9%NCLH FY2024: 9.6%NCLH FY2025: 4.3%VIK FY2022: 13.1%VIK FY2024: -39.3%VIK FY2024: 2.9%VIK FY2025: 17.7%FY18FY19FY20FY21FY22FY23FY24FY25
NCLH 4.3%VIK 17.7%
Revenue growth
NCLH FY2019: +6.7%NCLH FY2020: -80.2%NCLH FY2021: -49.4%NCLH FY2022: +647.5%NCLH FY2023: +76.5%NCLH FY2024: +10.9%NCLH FY2025: +3.7%VIK FY2024: +48.3%VIK FY2024: +13.2%VIK FY2025: +21.9%FY19FY20FY21FY22FY23FY24FY25
NCLH +3.7%VIK +21.9%
Free cash flow
NCLH FY2018: $508.4MNCLH FY2019: $185.4MNCLH FY2020: -$3.5BNCLH FY2021: -$3.2BNCLH FY2022: -$1.6BNCLH FY2023: -$744.6MNCLH FY2024: $838.9MNCLH FY2025: -$1.2BFY18FY19FY20FY21FY22FY23FY24FY25
NCLH -$1.2BVIK

Fiscal years as each company reports them; the two may end in different months.

Questions about Norwegian Cruise Line and Viking

Which is bigger by revenue, Norwegian Cruise Line or Viking?

Norwegian Cruise Line is bigger by revenue: $9.8B in fiscal 2025, against $6.5B for Viking in fiscal 2025.

Which keeps more of its revenue as profit, Norwegian Cruise Line or Viking?

Norwegian Cruise Line had a net margin of 4.3% in fiscal 2025; Viking had 17.7% in fiscal 2025.

Which grew revenue faster, Norwegian Cruise Line or Viking?

In their latest fiscal years revenue changed by +3.7% at Norwegian Cruise Line and +21.9% at Viking.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

More comparisons

Compare more companies