Viking HoldingsFRA:ZG8 -1.64%26 Piotroski F-Score is 7 as of Jun. 29, 2026, which is 13% below its 10-year median of 8.00. GuruFocus rates FRA:ZG8 with a GF Score™ of 26/100. The stock has 7 warning signs investors should review. Among 841 Travel & Leisure companies, Viking Holdings ranks better than 88.47% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Viking Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Viking Holdings's Piotroski F-Score or its related term are showing as below:
FRA:ZG8'
s Piotroski F-Score Range Over the Past 10 Years
Min: 7 Med: 8 Max: 8
Current: 7
During the past 5 years, the highest Piotroski F-Score of Viking Holdings was 8. The lowest was 7. And the median was 8.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Viking Holdings Piotroski F-Score Related Terms
Viking Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Viking Holdings's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:ZG8 vs CCL, EXPE, TCOM: Piotroski F-Score Comparison
For the Travel Services subindustry, Viking Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Viking Holdings Piotroski F-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Viking Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Viking Holdings's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 380.655 + 438.004 + 256.12 + -47.039 = €1,028 Mil. Cash Flow from Operations was 408.08 + 565.674 + 715.487 + 641.974 = €2,331 Mil. Revenue was 1630.278 + 1703.692 + 1472.602 + 911.486 = €5,718 Mil. Gross Profit was 744.983 + 802.132 + 609.268 + 311.127 = €2,468 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(9900.907 + 9638.931 + 9816.854 + 10446.732 + 11418.291) / 5 = €10244.343 Mil. Total Assets at the begining of this year (Mar25) was €9,901 Mil. Long-Term Debt & Capital Lease Obligation was €4,865 Mil. Total Current Assets was €4,334 Mil. Total Current Liabilities was €5,566 Mil.
Net Income was 148.286 + 342.407 + 99.014 + -97.563 = €492 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Viking Holdings's current Net Income (TTM) was 1,028.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Viking Holdings's return on assets of this year was 0.10380261. Viking Holdings's return on assets of last year was 0.06090862.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Viking Holdings's gearing of this year was 0.47486169. Viking Holdings's gearing of last year was 0.52275777.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Viking Holdings's current ratio of this year was 0.77854951. Viking Holdings's current ratio of last year was 0.62783567.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Viking Holdings's number of shares in issue this year was 445.883. Viking Holdings's number of shares in issue last year was 442.91.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Viking Holdings's gross margin of this year was 0.43152938. Viking Holdings's gross margin of last year was 0.41833692.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Viking Holdings's asset turnover of this year was 0.57752871. Viking Holdings's asset turnover of last year was 0.63191217.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
1
+
1
+
0
+
1
+
0
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Viking Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Viking Holdings (FRA:ZG8) has a Piotroski F-Score of 7 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Viking Holdings and its competitors. This is 13% below median its historical median of 8.00. Over the past decade, Viking Holdings' Piotroski F-Score has ranged from 7.00 to 8.00. According to the industry distribution chart, Viking Holdings ranks #97 out of 841 companies in the Travel & Leisure industry, placing it in the top 11.5%.
Is Viking Holdings' Piotroski F-Score too high?
Viking Holdings' current Piotroski F-Score of 7 is 13% below median its 10-year median of 8.00. Over the past 10 years, this metric has ranged from a low of 7.00 to a high of 8.00. The Travel & Leisure industry median Piotroski F-Score is 5.00. Viking Holdings' value of 7 is 40% above this industry median. Based on the distribution chart, Viking Holdings ranks #97 out of 841 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Viking Holdings has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Viking Holdings' Piotroski F-Score compare to CCL and EXPE?
According to the Travel & Leisure industry distribution chart, Viking Holdings ranks #97 out of 841 companies for Piotroski F-Score. This places Viking Holdings in the top 12% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Viking Holdings' value of 7 is 40% above this benchmark. Historically, Viking Holdings' own Piotroski F-Score has ranged from 7.00 to 8.00 over the past decade. While the company's 10-year median is 8.00 vs. the industry median of 5.00, Viking Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Travel & Leisure company?
The median Piotroski F-Score among Travel & Leisure companies is 5.00, based on 841 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Viking Holdings's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Viking Holdings and its competitors. For the Travel & Leisure industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Viking Holdings's current Piotroski F-Score is 7, which is 13% below median its own 10-year median of 8.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Viking Holdings stock overvalued right now?
Viking Holdings (FRA:ZG8) has a current Piotroski F-Score of 7. The current Piotroski F-Score is 7, which is 13% below median its 10-year median of 8.00 and 40% above the Travel & Leisure industry median of 5.00. Viking Holdings' overall GF Score™ is 26/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Viking Holdings (FRA:ZG8), the current Piotroski F-Score is 7 as of Jun. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Viking Holdings Ltd is a travel company, with a fleet of 92 small ships, which view as floating hotels. It offers travel experiences on all seven continents in all three categories of the cruise industry river, ocean, and expedition cruising. The Group defines its products based on the type of cruise offering and language of the cruise service. The River segment provides river cruises outside the United States to English-speaking passengers. The Ocean segment offers ocean cruises to English-speaking passengers. Other include operating segments that are not individually reportable, consisting of expedition cruises for English-speaking passengers (Expedition), Mississippi River cruises for English-speaking passengers, and Viking China, which includes cruises for Mandarin.
26GF Score
Get the complete analysis for FRA:ZG8
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:ZG8 has been successfully added to your 
