Victory Capital Holdings, Inc.
NASDAQ•VCTR
CEO: Mr. David Craig Brown CPA
Sector: Financial Services
Industry: Asset Management
Listing Date: 2018-02-08
Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. Its investment products include actively and passively managed mutual funds; rules-based and active exchange traded funds; institutional separate accounts; variable insurance products; alternative investments; and private closed-end funds; and a 529 Education Savings Plan. The company also offers strategies through third-party investment products, including mutual funds, third-party ETF model strategies, retail separately managed accounts, unified managed accounts through wrap account programs, Collective Investment Trusts, and undertakings for the collective investment in transferable securities. Victory Capital Holdings, Inc. was incorporated in 2013 and is based in San Antonio, Texas.
Contact Information
Market Cap
$4.23B
P/E (TTM)
10.8
0
Dividend Yield
3.0%
52W High
$73.00
52W Low
$47.00
52W Range
Rank37Top 25.8%
4.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$361.20M+60.08%
4-Quarter Trend
EPS
$1.12-11.11%
4-Quarter Trend
FCF
$164.83M+64.51%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
AUM Growth Post-Acquisition AUM reached $310.6B Sep 30, 2025, up $138.7B (80.7%) from year-end 2024, driven by Pioneer.
Revenue Surge Nine Months Nine-month total revenue reached $932.0M, marking a $270.9M increase (41.0%) over the 2024 period.
Strong Adjusted Profitability Nine-month Adjusted EBITDA totaled $485.4M, reflecting a solid 52.1% margin on total revenue reported.
Quarterly Net Income Rises Q3 Net Income was $96.5M, showing strong profitability improvement over $82.0M reported in the prior year.
Risk Factors
Contingent Consideration Liability WestEnd earn-out liability estimated at $84.5M as of September 30, 2025, subject to revenue projections.
Diluted EPS Pressure Diluted EPS declined to $2.73 for nine months, impacted by preferred stock dividends and allocations.
Acquisition Related Costs Acquisition-related costs totaled $34.9M for nine months, primarily legal/professional fees for Amundi US.
AUM Market Sensitivity Substantially all revenues derive from AUM market value; depreciation causes direct revenue reduction risk.
Outlook
Debt Refinancing Completed Sixth Amendment extended term loan maturity to Sep 2032; interest rates now based on SOFR margin.
Share Repurchase Availability $355.1M remains available for future repurchases under the expanded 2025 Share Repurchase Program.
Pioneer Integration Success Pioneer Investments is now largest franchise, enhancing scale and diversifying investment capabilities significantly.
New Quarterly Dividend Set Board approved regular quarterly cash dividend of $0.49 per share, payable on December 23, 2025.
Peer Comparison
Revenue (TTM)
LAZ$3.07B
NNI$2.01B
$1.74B
Gross Margin (Latest Quarter)
176.7%
NNI87.9%
85.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| MAIN | $5.28B | 15.1 | 12.2% | 0.0% |
| NNI | $4.94B | 11.5 | 12.4% | 56.4% |
| LAZ | $4.67B | 17.5 | 38.7% | 47.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
15.8%
Strong Growth
4Q Net Income CAGR
7.9%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Next earnings:Feb 5, 2026
EPS:$1.67
|Revenue:$370.29M
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 7, 2025|Revenue: $361.20M+60.1%|EPS: $1.12-11.1%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 8, 2025|Revenue: $351.21M+59.9%|EPS: $0.69-40.0%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 9, 2025|Revenue: $219.60M+1.7%|EPS: $0.97+12.8%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 28, 2025|Revenue: $893.48M+8.8%|EPS: $4.47+38.8%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 8, 2024|Revenue: $225.63M+7.6%|EPS: $1.26+59.5%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 9, 2024|Revenue: $219.62M+7.5%|EPS: $1.15+35.3%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 10, 2024|Revenue: $215.86M+7.2%|EPS: $0.86+17.8%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 29, 2024|Revenue: $821.03M-4.0%|EPS: $3.22-19.9%Beat