Victory Capital Holdings, Inc.

Victory Capital Holdings, Inc.

VCTRยทNASDAQ

$84.99

+0.56%
Financial ServicesAsset Management

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.

At a Glance

Live Snapshot
Market Cap$5.31B
EPS4.1300
P/E Ratio20.58
Earnings Date08/06/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 20.6).

Valuation inputs: P/E 20.6, earnings yield +4.9%, momentum +0.6%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +13.6%, ROIC +10.8%).

Profitability stack: net margin +25.3%, ROE +13.6%, ROIC +10.8%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +42.9%, momentum +0.6%, net margin +25.3%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Victory Capital Holdings, Inc. Market vs Earnings Trajectory

VCTR ยท NASDAQ

Loading price and EPS data...

Victory Capital Holdings, Inc.

Victory Capital Holdings, Inc. Fair Value Envelope

VCTR ยท NASDAQ

Our analysis suggests that VCTR has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $84.99, this represents a potential HIDDEN relative to our calculated worth for Victory Capital Holdings, Inc..

Intrinsic Value
Current Price: $84.99
3Y+3.0%
5Y+32.0%
10Y-4629.0%
3Y+53.0%
5Y+68.0%
10Y+338.0%
3Y+20.0%
5Y+55.0%
10Y-5537.0%
3Y-28.0%
5Y-4.0%
10Y+508.0%
3Y-28.0%
5Y-2.0%
10Y+517.0%
3Y+67.0%
5Y+145.0%
10Y+399.0%
Victory Capital Holdings, Inc.

Victory Capital Holdings, Inc. Profit Bridge

VCTR ยท NASDAQ
Revenue1.31B
Cost of Goods Sold (377.69M)
Gross Profit928.44M
Operating Expenses (373.46M)
Operating Income554.98M
Interest Expense (65.56M)
Other Income/Expense-116.66M
Pretax Income438.32M
Income Tax (108.26M)
Net Income330.06M
Net Income
330.06M

Profitability Analysis

Gross Margin

71.1%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

42.5%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

25.3%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

24.7%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

71.08%
Gross Profit Margin
20%
3Y+33.0%
5Y+37.0%
10Y+117.0%
42.49%
Operating Profit Margin
-11%
3Y-9.0%
5Y+5.0%
10Y+417.0%
25.27%
Net Profit Margin
-22%
3Y-22.0%
5Y-8.0%
10Y-1340.0%
13.61%
Return on Equity
-47%
3Y-47.0%
5Y-55.0%
10Y-842.0%
7.77%
Return on Assets
-31%
3Y-28.0%
5Y-37.0%
10Y-1189.0%
10.79%
Return on Invested Capital
-23%
3Y-22.0%
5Y-26.0%
10Y+428.0%
VCTR

Victory Capital Holdings, Inc. Cash Conversion Engine

VCTR ยท NASDAQ
Net Income330.06M
Depreciation & Amortization72.85M
Stock-Based Compensation134.56M
Change in Working Capital-87.41M
Others-241.84M
Capital Expenditures-3.56M
Free Cash Flow236.85M

Cash Flow Quality Analysis

FCF Conversion Rate

71.8%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

CapEx Intensity

1.5%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-30.1%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$87.41M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.

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Victory Capital Holdings, Inc. Funding & Solvency Profile

VCTR ยท NASDAQ
Cash & Cash Equivalents75.85M
Net Receivables197.58M
Inventory0.00
Other Current Assets0.00
Total Current Assets273 M
Property, Plant & Equipment112.71M
Goodwill & Intangible Assets3.70B
Long-Term Investments0.00
Other Non-Current Assets0.00
Total Non-Current Assets113 M
Total Assets
4.14B

Financial Health Analysis

Debt-to-Equity Ratio

0.76x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

273 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

7% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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Victory Capital Holdings, Inc. Street Expectations Map

VCTR ยท NASDAQ

Wall Street analysts project that VCTR stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 86.50, with estimates ranging from a low of 76.00 to a high of 95.00.

Lowest Target
76.00
-10.58%
Consensus Target
86.50
1.78%
Highest Target
95.00
11.78%

The consensus 1-year price target stands at 86.50, with estimates ranging from a low of 76.00 to a high of 95.00.

Analyst Consensus Analysis

Upside Potential

+1.8%

Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.

Analyst Agreement

22.0% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Risk-Reward Profile

1.11x

Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.

Analyst Conviction

Moderate

Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.

Market Sentiment Insight

Efficient pricing: Stock trading at fair value with strong consensus suggests market has priced in expectations. Look for fundamental inflection points or new catalysts to drive meaningful moves.

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Victory Capital Holdings, Inc. Insider Positioning

VCTR ยท NASDAQ

During the last 12 months, there has been no insider trading activity reported for VCTR.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.75%
Dividend Yield
218%
3Y-33.0%
5Y+103.0%
10Y+5133.0%
ย 

vctr Dividend History

VCTR
10Y CAGR +26%
Latest $0.5
Annual $2.46
5 year growth trend
Last Period: +2%