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Side-by-side financial comparison of RYDER SYSTEM INC (R) and Viking Holdings Ltd (VIK). Click either name above to swap in a different company.
Viking Holdings Ltd is the larger business by last-quarter revenue ($4.0B vs $3.1B, roughly 1.3× RYDER SYSTEM INC). Viking Holdings Ltd runs the higher net margin — 12.9% vs 3.0%, a 9.9% gap on every dollar of revenue.
Ryder System, Inc. is an American transportation and logistics company, specializing in truck rental and leasing, fleet management, supply chain management, and transportation management. It also offers full-service leasing, rental and maintenance, used vehicle sales, transportation management, professional drivers, e-commerce fulfillment, and last-mile delivery services. The company is headquartered in Coral Gables, Florida, and operates in the United States and United Kingdom.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
R vs VIK — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $4.0B |
| Net Profit | $93.0M | $514.0M |
| Gross Margin | — | 73.4% |
| Operating Margin | — | 15.2% |
| Net Margin | 3.0% | 12.9% |
| Revenue YoY | 1.0% | — |
| Net Profit YoY | -5.1% | 35.4% |
| EPS (diluted) | $2.34 | $1.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | $4.0B | ||
| Q2 25 | $3.2B | $2.3B | ||
| Q1 25 | $3.1B | $718.2M | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | $3.6B | ||
| Q2 24 | $3.2B | $2.1B |
| Q1 26 | $93.0M | — | ||
| Q4 25 | $132.0M | — | ||
| Q3 25 | $138.0M | $514.0M | ||
| Q2 25 | $131.0M | $439.2M | ||
| Q1 25 | $98.0M | $-105.5M | ||
| Q4 24 | $135.0M | — | ||
| Q3 24 | $142.0M | $379.7M | ||
| Q2 24 | $127.0M | $159.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 73.4% | ||
| Q2 25 | — | 55.7% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.7% | ||
| Q2 24 | — | 57.8% |
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | — | ||
| Q3 25 | 6.0% | 15.2% | ||
| Q2 25 | 5.8% | 23.7% | ||
| Q1 25 | 4.3% | -1.3% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 5.9% | 13.6% | ||
| Q2 24 | 5.6% | 20.5% |
| Q1 26 | 3.0% | — | ||
| Q4 25 | 4.2% | — | ||
| Q3 25 | 4.4% | 12.9% | ||
| Q2 25 | 4.1% | 19.1% | ||
| Q1 25 | 3.1% | -14.7% | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 4.5% | 10.6% | ||
| Q2 24 | 4.0% | 7.7% |
| Q1 26 | $2.34 | — | ||
| Q4 25 | $3.22 | — | ||
| Q3 25 | $3.32 | $1.15 | ||
| Q2 25 | $3.13 | $0.99 | ||
| Q1 25 | $2.27 | $-0.24 | ||
| Q4 24 | $3.09 | — | ||
| Q3 24 | $3.24 | $0.87 | ||
| Q2 24 | $2.84 | $0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $182.0M | $3.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.9B | $803.5M |
| Total Assets | — | $11.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $182.0M | — | ||
| Q4 25 | $198.0M | — | ||
| Q3 25 | $189.0M | $3.0B | ||
| Q2 25 | $180.0M | $2.6B | ||
| Q1 25 | $151.0M | $2.8B | ||
| Q4 24 | $154.0M | — | ||
| Q3 24 | $162.0M | $2.4B | ||
| Q2 24 | $164.0M | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | $6.8B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $7.0B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.6B | — | ||
| Q2 24 | $6.5B | — |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.1B | $803.5M | ||
| Q2 25 | $3.1B | $278.3M | ||
| Q1 25 | $3.0B | $-267.5M | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | $-688.9M | ||
| Q2 24 | $3.1B | $-1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $16.4B | — | ||
| Q3 25 | $16.5B | $11.5B | ||
| Q2 25 | $16.5B | $11.1B | ||
| Q1 25 | $16.4B | $10.7B | ||
| Q4 24 | $16.7B | — | ||
| Q3 24 | $16.5B | — | ||
| Q2 24 | $16.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.24× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.27× | — | ||
| Q1 25 | 2.21× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.09× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $583.0M | $663.9M |
| Free Cash FlowOCF − Capex | $273.0M | — |
| FCF MarginFCF / Revenue | 8.7% | — |
| Capex IntensityCapex / Revenue | 13.7% | — |
| Cash ConversionOCF / Net Profit | 6.27× | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $583.0M | — | ||
| Q4 25 | $749.0M | — | ||
| Q3 25 | $442.0M | $663.9M | ||
| Q2 25 | $752.0M | $470.7M | ||
| Q1 25 | $651.0M | $587.9M | ||
| Q4 24 | $558.0M | — | ||
| Q3 24 | $629.0M | $828.7M | ||
| Q2 24 | $552.0M | $419.8M |
| Q1 26 | $273.0M | — | ||
| Q4 25 | $344.0M | — | ||
| Q3 25 | $-85.0M | — | ||
| Q2 25 | $63.0M | — | ||
| Q1 25 | $137.0M | — | ||
| Q4 24 | $-201.0M | — | ||
| Q3 24 | $30.0M | — | ||
| Q2 24 | $-87.0M | — |
| Q1 26 | 8.7% | — | ||
| Q4 25 | 10.8% | — | ||
| Q3 25 | -2.7% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 4.4% | — | ||
| Q4 24 | -6.3% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | -2.7% | — |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 12.8% | — | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 16.4% | — | ||
| Q4 24 | 23.8% | — | ||
| Q3 24 | 18.9% | — | ||
| Q2 24 | 20.1% | — |
| Q1 26 | 6.27× | — | ||
| Q4 25 | 5.67× | — | ||
| Q3 25 | 3.20× | 1.29× | ||
| Q2 25 | 5.74× | 1.07× | ||
| Q1 25 | 6.64× | — | ||
| Q4 24 | 4.13× | — | ||
| Q3 24 | 4.43× | 2.18× | ||
| Q2 24 | 4.35× | 2.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
VIK
Segment breakdown not available.
