Victory Capital Holdings, Inc.
Financial ServicesNASDAQ:VCTR · NASDAQ Global Select
-$1.47 today
Vol 0.75M · Avg 0.57M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$1.5B of revenue converted into $380.2M of net income for the selected period. Gross margin is 70.9% and net margin is 25.6%, showing how much revenue survives after costs and taxes. EPS is $4.44, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B +46.2% | $893.5M +8.8% | $821.0M -4.0% | $854.8M -4.0% | $890.3M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $377.7M +3.8% | $363.7M -0.4% | $365.1M -8.6% | $399.3M -2.9% | $411.2M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $928.4M +75.3% | $529.8M +16.2% | $456.0M +0.1% | $455.5M -4.9% | $479.0M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 71.1% +11.8pp | 59.3% +3.8pp | 55.5% +2.2pp | 53.3% -0.5pp | 53.8% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $576.0M +915.9% | $56.7M +0.7% | $56.3M +7.5% | $52.4M -2.5% | $53.7M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $373.5M +265.2% | $102.3M -19.8% | $127.5M +126.1% | $56.4M -46.4% | $105.2M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $72.9M +141.4% | $30.2M -27.5% | $41.6M -3.6% | $43.2M +129.3% | $18.8M | $374.2M | $1.2B | $631.8M |
| EBITDA | $566.0M +17.6% | $481.4M +22.1% | $394.3M -10.4% | $440.1M +12.3% | $391.8M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 43.3% -10.5pp | 53.9% +5.8pp | 48.0% -3.5pp | 51.5% +7.5pp | 44.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $555.0M +29.8% | $427.5M +30.2% | $328.5M -17.7% | $399.1M +6.8% | $373.8M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 42.5% -5.4pp | 47.8% +7.8pp | 40.0% -6.7pp | 46.7% +4.7pp | 42.0% | 16.6% | 24.1% | 22.0% |
| Interest Income | $28.5M +18.5% | $24.0M -0.7% | $24.2M +557.3% | $3.7M -39.1% | $6.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $65.6M -15.3% | $77.4M +0.9% | $76.8M +63.7% | $46.9M +90.3% | $24.7M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$116.7M -117.0% | -$53.8M -2.3% | -$52.5M -7.1% | -$49.1M -111.5% | -$23.2M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $438.3M +17.3% | $373.8M +35.5% | $275.9M -21.2% | $350.0M -0.2% | $350.6M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 33.6% -8.3pp | 41.8% +8.2pp | 33.6% -7.3pp | 40.9% +1.6pp | 39.4% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $108.3M +27.5% | $84.9M +35.3% | $62.8M -15.8% | $74.5M +3.1% | $72.3M | $1.3B | -$1.6B | $745.2M |
| Net Income | $330.1M +14.3% | $288.9M +35.5% | $213.2M -22.6% | $275.5M -1.0% | $278.4M | $4.9B | $4.8B | $4.7B |
| Net Margin | 25.3% -7.1pp | 32.3% +6.4pp | 26.0% -6.3pp | 32.2% +1.0pp | 31.3% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $4 -7.6% | $4 +38.8% | $3 -19.9% | $4 -2.0% | $4 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $4 -6.8% | $4 +40.4% | $3 -18.1% | $4 +1.6% | $4 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $65.4M +1.3% | $64.6M -2.4% | $66.2M -3.3% | $68.5M +0.7% | $68.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $66.4M +0.7% | $65.9M -3.4% | $68.2M -5.6% | $72.3M -2.5% | $74.2M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Main Street Capital Corporation
NYSE:MAIN
$4.84B
First Financial Bankshares, Inc.
NASDAQ:FFIN
$4.81B
Nelnet, Inc.
NYSE:NNI
$4.67B
ServisFirst Bancshares, Inc.
NYSE:SFBS
$4.50B
Federated Hermes, Inc.
NYSE:FHI
$4.43B
Lazard Ltd
NYSE:LAZ
$4.29B
AllianceBernstein Holding L.P.
NYSE:AB
$4.03B
Golub Capital BDC, Inc.
NASDAQ:GBDC
$3.46B
FS KKR Capital Corp.
NYSE:FSK
$3.10B
Hercules Capital, Inc.
NYSE:HTGC
$2.91B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does VCTR generate?
Victory Capital Holdings, Inc. (VCTR) reported $1.31B of revenue in fiscal 2025.
Is VCTR profitable?
Victory Capital Holdings, Inc. (VCTR) reported $330.06M of net income, with a net margin of 25.3%.
Explore More
Continue the stock analysis
Jump to another research area for this company.