Saturday 17 October 2026 Export VCTR’s income statement to Excel — free account

Victory Capital Holdings, Inc.

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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Market cap: $6.7B
P/E: 19.8×
Fwd P/E: 15.3×
Dividend yield: 1.82%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 15.53%

Capital & Financial Ratios $m

Market Cap 6,720.00

Revenue 1,558.67

Net Income 460.90

Free Cash Flow 563.60

Net Debt 897.85

Current Ratio 1.29

Debt/Equity 0.41

P/E ratio 19.78

Fwd P/E 15.30

P/S ratio 4.33

P/B ratio 2.84

Past 5Y EPS Growth 7.21%

This Y EPS Growth 25.97%

Next Y EPS Growth 13.08%

Next Y revenue growth 26.48%

Next 5Y EPS Growth 15.52%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 94.32%

10-year low 10-year high

P/S against its own 10 years 89.84%

10-year low 10-year high

P/B against its own 10 years 81.04%

10-year low 10-year high

Dividends

Payout Ratio 0.36

Annual Dividend Rate 1.98

Annual Dividend Yield 1.82%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.00	0.49 0.50 0.50
2025	1.94	0.47 0.49 0.49 0.49
2024	1.56	0.34 0.37 0.41 0.44
2023	1.28	0.32 0.32 0.32 0.32
2022	1.00	0.25 0.25 0.25 0.25
2021	0.53	0.09 0.12 0.15 0.17
2020	0.23	0.05 0.05 0.06 0.07
2019	0.10	0.05 0.05
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	124	127	164	70
Receivables	88	101	181	—
Inventory	—	—	—	—
Other	—	—	—	—
	217	236	361	337

	2023	2024	2025	Q'26
Payables	274	198	160	131
ST’ Debt	—	—	—	—
Other	—	—	—	—
	329	249	246	260

Compound Annual Growth %

	10y	5y	3y
Sales	18.42%	10.99%	15.18%
Cash Flow	25.22%	8.99%	4.77%
Earnings	53.17%	4.92%	(0.65%)
Book Value	25.54%	27.93%	31.54%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	388	435	—	—	—
’25	220	351	361	374	1,306
’24	216	220	226	232	893
’23	201	204	210	206	821
’22	230	216	207	202	855
’21	213	222	226	229	890
’20	204	182	189	200	775

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	121	135	—	—	—
’25	81	(7)	166	145	385
’24	69	80	100	92	340
’23	64	77	92	97	330
’22	75	90	103	67	335
’21	80	85	100	112	376
’20	52	69	62	68	251

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	120	134	—	—	—
’25	80	(7)	165	144	381
’24	68	79	99	92	339
’23	64	75	90	96	325
’22	74	89	102	66	330
’21	79	79	97	108	364
’20	51	64	60	67	243

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.33	1.68	—	—	—
’25	0.96	0.68	1.11	1.32	4.08
’24	0.84	1.12	1.24	1.17	4.38
’23	0.71	0.83	0.77	0.82	3.12
’22	0.97	1.09	1.01	0.74	3.81
’21	0.88	0.93	1.00	0.94	3.75
’20	0.77	0.61	0.76	0.75	2.88

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	7.27	9.52	10.18	15.69	22.22	26.80	32.55	47.00	Analyst estimates 2026–2028 Powerpack
	High	—	—	13.50	22.25	24.96	43.09	37.35	35.21	73.42	73.00
People
People	Employees	276	267	263	358	429	485	512	481	460	699
	Revenue/emp, $m	1.08	1.53	1.57	1.71	1.81	1.84	1.67	1.71	1.94	1.87
Income, $m
Income, $m	Revenue	298	410	413	612	775	890	855	821	893	1,306
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	(9)	38	85	121	279	351	350	276	374	438
	EBT margin, %	(3.05)	9.39	20.54	19.71	35.92	39.39	40.95	33.61	41.83	33.56
	Net income	(6)	26	64	92	213	278	276	213	289	330
	Depreciation	30	37	23	24	16	19	43	42	30	73
Per share, $
Per share, $	Revenue	5.96	7.46	6.24	9.06	11.45	13.10	12.48	12.40	13.83	19.96
	Earnings	(0.12)	0.47	0.96	1.37	3.14	4.10	4.02	3.22	4.47	4.13
	Cash flow	0.79	1.75	2.03	3.36	3.70	5.53	4.89	4.99	5.26	5.89
	Capex	(0.02)	(0.04)	(0.04)	(0.08)	(0.12)	(0.19)	(0.08)	(0.08)	(0.02)	(0.06)
	Free cash flow	0.77	1.71	1.99	3.29	3.58	5.35	4.82	4.91	5.24	5.83
	Book value	6.62	4.21	6.87	7.95	10.45	13.68	15.56	15.91	17.36	37.05
	Shares, m	50	55	66	68	68	68	68	66	65	65
Valuation, ×
Valuation, ×	P/E	24.88	24.88	10.76	15.31	7.93	8.93	6.71	10.48	14.68	15.35
	P/S	1.56	1.56	1.64	2.32	2.17	2.79	2.17	2.72	4.73	3.16
	P/B	2.77	2.77	1.49	2.64	2.37	2.67	1.74	2.12	3.77	1.70
	EV/Sales	2.71	2.71	2.16	3.76	3.13	3.98	3.27	3.78	5.67	3.78
	EV/FCF	11.80	11.80	6.79	10.38	10.00	9.74	8.48	9.53	14.96	12.94
Cash, $m
Cash, $m	Operating cash flow	40	96	134	227	251	376	335	330	340	385
	Capex	(1)	(2)	(3)	(5)	(8)	(13)	(5)	(5)	(1)	(4)
	Free cash flow	38	94	132	222	243	364	330	325	339	381
Balance, $m
Balance, $m	Working capital	15	13	42	(126)	(65)	(245)	(209)	(112)	(13)	115
	Total debt	419	483	269	925	769	1,128	986	989	964	970
	Net debt	402	470	217	887	746	1,058	947	866	837	806
	Shareholders’ equity	331	231	456	538	708	930	1,065	1,053	1,122	2,425
Returns, %
Returns, %	ROA	(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
	ROE	(2.09)	9.19	18.55	18.62	34.13	34.00	27.62	20.12	26.57	15.24

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AMG Affiliated Managers Group, Inc.	$9.9B	12.3×	14.3×	+29.91% (above 0%: growing)	+138.18% (above 0%: growing)	+4.18% (above 0%: growing)	100.00%	30.36%	Compare
VCTR Victory Capital Holdings, Inc.	$6.7B	19.8×	15.3×	+23.96% (above 0%: growing)	+146.38% (above 0%: growing)	+1,893.46% (above 0%: growing)	100.00%	44.50%
BXSL Blackstone Secured Lending Fund	$5.6B	18.8×	11.4×	−7.06% (below 0%: shrinking)	−94.12% (below 0%: shrinking)	+353.76% (above 0%: growing)	100.00%	85.77%	Compare
MAAS Maase Inc. - Sponsored ADR	$5.5B	— (loss-making)	— (loss-making)	−60.12% (below 0%: shrinking)	+62.50% (above 0%: growing)	+82.86% (above 0%: growing)	0.00%	0.00%	Compare
STEP StepStone Group Inc.	$5.2B	— (loss-making)	3.9×	+4.01% (above 0%: growing)	n/m	−1,113.70% (below 0%: shrinking)	100.00%	(54.06%)	Compare
OBDC Blue Owl Capital Corporation	$5.1B	18.1×	12.1×	−17.39% (below 0%: shrinking)	−51.85% (below 0%: shrinking)	−45.84% (below 0%: shrinking)	100.00%	74.72%	Compare
MAIN Main Street Capital Corporation	$5.1B	10.8×	15.2×	+3.89% (above 0%: growing)	+15.33% (above 0%: growing)	+13.70% (above 0%: growing)	100.00%	87.20%	Compare
HASI HA Sustainable Infrastructure Capital, Inc.	$4.7B	55.2×	29.3×	+40.97% (above 0%: growing)	+25.00% (above 0%: growing)	−14.48% (below 0%: shrinking)	100.00%	80.56%	Compare
HLNE Hamilton Lane Inc.	$4.6B	12.3×	12.3×	+56.48% (above 0%: growing)	+49.23% (above 0%: growing)	−40.94% (below 0%: shrinking)	100.00%	45.93%	Compare
Median of peers	$5.1B	15.2×	12.3×	+3.95%	+25.00%	−5.15%	100.00%	60.33%

All 120 Asset Management stocks →

Victory Capital Holdings, Inc. (VCTR) key facts

Strength: Victory Capital Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 46.2% from fiscal 2024.
Victory Capital Holdings, Inc. (VCTR) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, VCTR traded at $108.60, a market capitalization of $6.7 billion.
Victory Capital Holdings, Inc. pays an annual dividend of $1.98 per share, a yield of 1.82%, with a payout ratio of 36.4%.
Return on equity was 15.2% and debt-to-equity 0.41.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.