Saturday 17 October 2026
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Victory Capital Holdings, Inc.
VCTR Financial Asset Management
Victory Capital Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 46.2% from fiscal 2024. In the quarter to June 2026, revenue grew 24.0%, EPS grew 146.4%, free cash flow grew 1,893.5% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years.
108.60
0.70
−0.64%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 6 | 7 | 3 | 6 | 4 | 4 | 5 | 8 | 6 |
P/E ratio |
24.88 | 24.88 | 10.76 | 15.31 | 7.93 | 8.93 | 6.71 | 10.48 | 14.68 | 15.35 |
P/S ratio |
1.56 | 1.56 | 1.64 | 2.32 | 2.17 | 2.79 | 2.17 | 2.72 | 4.73 | 3.16 |
P/FCF ratio |
6.80 | 6.80 | 5.14 | 6.38 | 6.93 | 6.83 | 5.61 | 6.87 | 12.49 | 10.83 |
P/Operating CF |
17.40 | 17.40 | 19.67 | 23.75 | 24.74 | 22.14 | 27.60 | 23.00 | 46.06 | 28.46 |
P/B ratio |
2.77 | 2.77 | 1.49 | 2.64 | 2.37 | 2.67 | 1.74 | 2.12 | 3.77 | 1.70 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
2.71 | 2.71 | 2.16 | 3.76 | 3.13 | 3.98 | 3.27 | 3.78 | 5.67 | 3.78 |
EV/EBITDA |
8.74 | 8.74 | 6.49 | 12.23 | 7.33 | 9.02 | 6.33 | 8.37 | 11.07 | 8.95 |
EV/Operating CF |
11.54 | 11.54 | 6.66 | 10.14 | 9.68 | 9.41 | 8.35 | 9.38 | 14.90 | 12.80 |
EV/FCF |
11.80 | 11.80 | 6.79 | 10.38 | 10.00 | 9.74 | 8.48 | 9.53 | 14.96 | 12.94 |
Quick Ratio |
1.13 | 1.13 | 1.69 | 0.50 | 0.61 | 0.41 | 0.36 | 0.64 | 0.91 | 1.40 |
Current Ratio |
1.17 | 1.21 | 1.74 | 0.52 | 0.64 | 0.42 | 0.39 | 0.66 | 0.95 | 1.47 |
Net Debt/EBITDA |
7.33 | 3.71 | 1.58 | 4.71 | 2.25 | 2.70 | 2.14 | 2.34 | 1.83 | 1.46 |
Debt/Assets |
49.18% | 60.97% | 33.54% | 52.73% | 44.43% | 43.72% | 38.79% | 38.91% | 37.83% | 22.84% |
Debt/Equity |
1.26 | 2.09 | 0.59 | 1.72 | 1.09 | 1.21 | 0.93 | 0.94 | 0.86 | 0.40 |
Asset Turnover |
0.40 | 0.50 | 0.52 | 0.48 | 0.45 | 0.41 | 0.33 | 0.32 | 0.35 | 0.38 |
Operating CF/Net income |
(6.51) | 3.72 | 2.11 | 2.46 | 1.18 | 1.35 | 1.22 | 1.55 | 1.18 | 1.43 |
Capex/Depreciation |
(0.04) | (0.06) | (0.11) | (0.22) | (0.49) | (0.67) | (0.12) | (0.12) | (0.04) | (0.06) |
Interest Coverage |
0.71 | 1.86 | 5.53 | 4.02 | 8.50 | 15.16 | 9.08 | 5.36 | 6.70 | 8.73 |
| (2.09%) | 9.19% | 18.55% | 18.62% | 34.13% | 34.00% | 27.62% | 20.12% | 26.57% | 15.24% | |
| (0.83%) | 3.14% | 7.99% | 7.24% | 12.20% | 12.92% | 10.76% | 8.39% | 11.35% | 7.95% | |
ROIC |
2.09% | 8.03% | 10.64% | 7.22% | 13.53% | 11.75% | 12.39% | 10.70% | 13.64% | 9.25% |
Return on Tangible Assets |
(24.27%) | 117.57% | 125.80% | (82.26%) | (460.33%) | (126.77%) | (146.95%) | (230.06%) | (18,201.89%) | 195.15% |
Average Days of Receivables |
102.77 | 49.82 | 38.95 | 56.68 | 41.51 | 42.76 | 36.07 | 38.93 | 41.12 | 50.62 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
76.12% | 68.73% | 65.45% | 60.91% | 54.69% | 52.22% | 52.84% | 51.99% | 47.05% | 51.93% |
Intangible Assets out of Total Assets |
0.84 | 0.87 | 0.84 | 0.90 | 0.91 | 0.90 | 0.90 | 0.89 | 0.88 | 0.87 |
Share Based Compensation of Revenue |
4.04% | 4.19% | 4.20% | 3.61% | 2.90% | 2.98% | 2.07% | 2.62% | 2.25% | 3.55% |
Graham Net Nets |
(0.76) | (0.76) | (0.37) | (0.76) | (0.54) | (0.59) | (0.73) | (0.57) | (0.28) | (0.35) |
Graham Number |
0.00 | 6.63 | 12.12 | 15.66 | 27.13 | 35.48 | 37.56 | 33.95 | 41.74 | 58.53 |
Earnings Yield |
4.02% | 4.02% | 9.30% | 6.53% | 12.62% | 11.20% | 14.90% | 9.54% | 6.81% | 6.51% |
Free Cash Flow Yield |
14.71% | 14.71% | 19.45% | 15.67% | 14.44% | 14.64% | 17.82% | 14.56% | 8.01% | 9.24% |
Revenue per Share |
5.96 | 7.46 | 6.24 | 9.06 | 11.45 | 13.10 | 12.48 | 12.40 | 13.83 | 19.96 |
Operating CF per Share |
0.79 | 1.75 | 2.03 | 3.36 | 3.70 | 5.53 | 4.89 | 4.99 | 5.26 | 5.89 |
Capex per Share |
(0.02) | (0.04) | (0.04) | (0.08) | (0.12) | (0.19) | (0.08) | (0.08) | (0.02) | (0.06) |
Free Cash Flow per Share |
0.77 | 1.71 | 1.99 | 3.29 | 3.58 | 5.35 | 4.82 | 4.91 | 5.24 | 5.83 |
Cash per Share |
0.33 | 0.24 | 0.78 | 0.55 | 0.34 | 1.02 | 0.56 | 1.87 | 1.96 | 2.50 |
Shareholders Equity per Share |
6.62 | 4.21 | 6.87 | 7.95 | 10.45 | 13.68 | 15.56 | 15.91 | 17.36 | 37.05 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.62 | 4.21 | 6.87 | 7.95 | 10.45 | 13.68 | 15.56 | 15.91 | 17.36 | 37.05 |
Free Cash Flow |
38.39 | 94.07 | 131.80 | 222.15 | 242.56 | 363.52 | 329.97 | 325.12 | 338.70 | 381.33 |
Working Capital |
15.47 | 13.12 | 41.86 | (125.68) | (64.91) | (244.89) | (208.63) | (112.23) | (13.46) | 114.60 |
Capital Expenditures |
(1.15) | (2.10) | (2.55) | (5.24) | (8.06) | (12.67) | (5.24) | (5.17) | (1.28) | (4.16) |
Net Current Asset Value |
(415.43) | (487.16) | (247.69) | (1,078.37) | (906.18) | (1,469.33) | (1,344.40) | (1,272.71) | (1,189.92) | (1,462.22) |
EV/EBIT |
12.31 | 12.31 | 7.81 | 14.00 | 7.71 | 9.47 | 7.01 | 9.44 | 11.85 | 10.31 |
Capex to Sales |
0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
Price to Operating Income |
7.09 | 7.09 | 5.92 | 8.61 | 5.34 | 6.64 | 4.64 | 6.80 | 9.89 | 8.63 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
3.19 | 4.13 | 2.65 | 1.80 | 0.87 | 0.74 | 2.04 | 2.13 | 2.54 | 3.06 |
Cash ROIC |
5.01% | 12.93% | 16.99% | 14.81% | 16.18% | 17.09% | 15.79% | 15.01% | 15.31% | 10.72% |
Accounts Receivable Turnover |
4.93 | 5.86 | 8.27 | 8.80 | 8.46 | 9.25 | 9.06 | 9.54 | 9.49 | 9.27 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
60.43 | 69.89 | 50.02 | 69.61 | 91.64 | 96.24 | 94.39 | 86.02 | 94.12 | 140.90 |
Average Payables |
17.76 | 15.58 | 8.31 | 62.71 | 126.81 | 253.06 | 326.37 | 277.47 | 235.76 | 178.90 |
Average Assets |
735.67 | 821.79 | 797.07 | 1,277.41 | 1,742.02 | 2,155.24 | 2,560.32 | 2,541.76 | 2,545.10 | 3,397.72 |
Average Common Equity |
290.21 | 281.09 | 343.37 | 496.71 | 622.71 | 818.73 | 997.67 | 1,059.21 | 1,087.32 | 1,773.08 |
Columns are period end dates