Victory Capital Holdings (VCTR) AI Stock Analysis

• Market Cap: $4.10B
• Dividend Yield: 3.09%
• Average Volume (3M): 377.73K
• Price to Earnings (P/E): 16.1
• Beta (1Y): 1.15
• Revenue Growth: 33.03%
• EPS Growth: -3.55%
• Country: US
• Employees: 460
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.63
• Shares Outstanding: 64,935,455
• 10 Day Avg. Volume: 442,300
• 30 Day Avg. Volume: 377,733
• PEG Ratio: 0.38
• Price to Book (P/B): 3.77
• Price to Sales (P/S): 4.73
• P/FCF Ratio: 12.49
• Enterprise Value/Market Cap: 1.28
• Enterprise Value/Revenue: 4.50
• Enterprise Value/Gross Profit: 7.35
• Enterprise Value/Ebitda: 10.03
• 1Y Price Target: $72.20
• Price Target Upside: 14.26% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: $70.00 ▲(10.78% Upside)

Victory Capital Holdings has a strong overall stock score driven by robust financial performance and positive earnings call insights. The company's successful integration of acquisitions and growth in non-U.S. markets are significant strengths. However, the technical analysis suggests a bearish trend, which slightly offsets the positive outlook. The valuation is reasonable, providing a balanced investment opportunity.

Positive Factors

Revenue Growth

Consistent revenue growth indicates robust business expansion and effective market penetration, enhancing long-term earnings potential.

Strategic Acquisitions

Effective integration of acquisitions strengthens operational efficiency and expands investment capabilities, supporting future growth.

Strong Balance Sheet

Improved leverage management enhances financial stability, providing flexibility for future investments and growth opportunities.

Negative Factors

Decline in Free Cash Flow

Reduced free cash flow growth may limit the company's ability to invest in new opportunities, affecting long-term expansion.

Net Long-Term Outflows

Persistent outflows could indicate client dissatisfaction or competitive pressures, potentially impacting future revenue streams.

Performance Fee Variability

Variability in performance fees can lead to unpredictable revenue, challenging the stability of earnings and financial planning.

Victory Capital Holdings Business Overview & Revenue Model

Company Description

Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company worldwide. It offers investment advisory, fund administration, fund compliance, fund transfer agent, and fund distribution services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. As of December 31, 2021, its franchises and solutions platform managed a set of 130 investment strategies for a range of institutional and retail clients, and direct investors. The company has strategic alliance with Xavier University of Louisiana. Victory Capital Holdings, Inc. was incorporated in 2013 and is headquartered in San Antonio, Texas.

How the Company Makes Money

Victory Capital generates revenue primarily through management fees and performance fees from its investment products. The company earns management fees based on the assets under management (AUM) across its various investment strategies, which can include mutual funds, separately managed accounts, and institutional investment products. Performance fees are earned when investment returns exceed specified benchmarks, providing an incentive for the firm to maximize client returns. Additionally, Victory Capital may benefit from revenue-sharing agreements with its distribution partners, which could include financial advisors and broker-dealers. The firm's extensive distribution network and partnerships enhance its ability to attract new clients and grow AUM, which is crucial for sustaining its revenue growth.

Victory Capital Holdings Financial Statement Overview

Summary

Victory Capital Holdings demonstrates strong financial performance with robust revenue growth and profitability. The company has improved its leverage position, enhancing financial stability. Cash flow generation is strong, supporting future growth and investment opportunities. However, attention should be paid to maintaining gross profit margins and further improving cash flow efficiency.

Income Statement

Victory Capital Holdings shows strong revenue growth with a 13.18% increase in TTM, indicating robust business expansion. The company maintains a high net profit margin of 34.05% in TTM, reflecting efficient cost management and profitability. However, the gross profit margin has decreased compared to previous years, suggesting rising costs or pricing pressures.

Balance Sheet

The balance sheet is stable with a manageable debt-to-equity ratio of 0.42 in TTM, showing a decrease from previous years, which indicates improved leverage management. Return on equity remains strong at 22.24%, highlighting effective use of equity to generate profits. However, the equity ratio suggests moderate reliance on debt financing.

Cash Flow

Cash flow analysis reveals a significant free cash flow growth of 24.49% in TTM, indicating strong cash generation capabilities. The free cash flow to net income ratio is nearly 1, showing efficient conversion of profits into cash. However, the operating cash flow to net income ratio is not available, which limits a full assessment of cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.16B	893.48M	821.03M	854.80M	890.26M	775.35M
Gross Profit	713.03M	529.77M	455.97M	455.50M	479.05M	402.51M
EBITDA	522.18M	481.37M	394.32M	440.14M	391.80M	328.94M
Net Income	294.19M	288.86M	213.16M	275.51M	278.39M	212.52M
Balance Sheet
Total Assets	4.21B	2.55B	2.54B	2.54B	2.58B	1.73B
Cash, Cash Equivalents and Short-Term Investments	115.74M	126.73M	123.55M	38.17M	69.53M	22.74M
Total Debt	1.02B	963.86M	989.27M	985.51M	1.13B	779.01M
Total Liabilities	1.81B	1.43B	1.49B	1.48B	1.65B	1.02B
Stockholders Equity	2.40B	1.12B	1.05B	1.07B	929.93M	707.54M
Cash Flow
Free Cash Flow	328.51M	338.70M	325.12M	329.97M	363.52M	242.56M
Operating Cash Flow	332.22M	339.98M	330.29M	335.21M	376.20M	250.62M
Investing Cash Flow	75.26M	-3.98M	-7.84M	-6.32M	-556.59M	-12.34M
Financing Cash Flow	-480.21M	-332.76M	-237.13M	-360.19M	227.22M	-252.70M

Victory Capital Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 63.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VCTR, the sentiment is Neutral. The current price of 63.19 is above the 20-day moving average (MA) of 62.35, below the 50-day MA of 64.32, and below the 200-day MA of 63.39, indicating a neutral trend. The MACD of -0.46 indicates Negative momentum. The RSI at 49.94 is Neutral, neither overbought nor oversold. The STOCH value of 44.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VCTR.

Victory Capital Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCTR	77 Outperform	$4.10B	16.12	16.46%	3.09%	33.03%	-3.55%
AMG	76 Outperform	$7.53B	16.34	15.95%	0.02%	1.08%	8.24%
AB	76 Outperform	$3.74B	13.54	19.77%	8.44%	―	-12.92%
APAM	69 Neutral	$3.37B	11.64	62.04%	8.68%	5.46%	2.10%
FHI	68 Neutral	$3.90B	10.52	32.06%	2.64%	9.32%	53.51%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CNS	60 Neutral	$3.25B	20.02	31.53%	3.89%	12.73%	19.01%

Victory Capital Holdings Corporate Events

Victory Capital Reports Stable AUM Growth in October

On November 11, 2025, Victory Capital Holdings reported its total assets under management (AUM) as of October 31, 2025, amounting to $313.0 billion, with total client assets reaching $315.8 billion. The report highlights a slight increase in AUM from the previous month, indicating a stable growth trajectory. This announcement underscores Victory Capital’s strong market position and its ability to manage a diverse range of asset classes, benefiting stakeholders by potentially enhancing investment returns and maintaining competitive performance.

The most recent analyst rating on (VCTR) stock is a Hold with a $68.00 price target. To see the full list of analyst forecasts on Victory Capital Holdings stock, see the VCTR Stock Forecast page.

Victory Capital Reports Q3 AUM and Net Outflows

On October 9, 2025, Victory Capital Holdings reported its total assets under management (AUM) as $310.6 billion, with total client assets amounting to $313.4 billion as of September 30, 2025. The company experienced long-term AUM net outflows of $244 million for the third quarter. Victory Capital also announced a conference call scheduled for November 7, 2025, to discuss its third-quarter financial results, highlighting its ongoing commitment to transparency and stakeholder engagement.

The most recent analyst rating on (VCTR) stock is a Buy with a $75.00 price target. To see the full list of analyst forecasts on Victory Capital Holdings stock, see the VCTR Stock Forecast page.

Victory Capital Holdings Extends Credit Agreement and Refinances Loans

On September 23, 2025, Victory Capital Holdings, Inc. announced the Sixth Amendment to its Credit Agreement, extending the maturity date of its $100 million revolving credit facility to September 23, 2030, while reducing the interest rate margin by 0.25% per annum. Additionally, the company refinanced its existing term loans with new term loans totaling $985 million, set to mature on September 23, 2032, with adjusted interest rates, thereby enhancing its financial flexibility and potentially improving its cost of capital.

The most recent analyst rating on (VCTR) stock is a Buy with a $76.00 price target. To see the full list of analyst forecasts on Victory Capital Holdings stock, see the VCTR Stock Forecast page.

Victory Capital Holdings Reports Growth in August AUM

On September 10, 2025, Victory Capital Holdings reported its total assets under management (AUM) as $303.7 billion and total client assets as $306.4 billion as of August 31, 2025. This announcement reflects a slight increase in AUM from the previous month, indicating a stable growth trajectory for the company, which may positively impact its market positioning and stakeholder confidence.

The most recent analyst rating on (VCTR) stock is a Buy with a $82.00 price target. To see the full list of analyst forecasts on Victory Capital Holdings stock, see the VCTR Stock Forecast page.