Victory Capital Holdings (VCTR) AI Stock Analysis

• Market Cap: $4.11B
• Dividend Yield: 3.07%
• Average Volume (3M): 414.46K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 1.21
• Revenue Growth: 19.81%
• EPS Growth: 12.83%
• Country: US
• Employees: 460
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.57
• Shares Outstanding: 66,783,380
• 10 Day Avg. Volume: 301,512
• 30 Day Avg. Volume: 414,462
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.27
• Enterprise Value/Revenue: 5.07
• Enterprise Value/Gross Profit: 8.09
• Enterprise Value/Ebitda: 9.78
• 1Y Price Target: $73.20
• Price Target Upside: 18.99% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 6.2
• Revenue Forecast (FY): $1.31B

• Rating: 76 Outperform
• Price Target: $75.00 ▲(21.91% Upside)

Victory Capital Holdings' strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The company's strategic growth initiatives and improved leverage management are notable strengths. However, technical indicators suggest a neutral trend, and the decline in free cash flow growth poses a risk. Overall, the stock is well-positioned with a reasonable valuation and attractive dividend yield.

Positive Factors

Revenue Growth

The robust revenue growth indicates effective business expansion and strong demand for its investment products, supporting long-term profitability.

Strategic Acquisitions

The acquisition of Amundi U.S. business diversifies Victory Capital's offerings and scales its operations, strengthening its competitive position in asset management.

Improved Leverage Management

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

Negative Factors

Decline in Free Cash Flow

A decline in free cash flow growth may limit the company's ability to fund new projects and return capital to shareholders, impacting long-term growth.

Operational Margin Pressure

Pressure on operational margins suggests challenges in maintaining cost efficiency, which could affect profitability if not addressed.

Net Asset Outflows

Continued net asset outflows indicate potential challenges in retaining client investments, which could impact future revenue and growth.

Victory Capital Holdings Business Overview & Revenue Model

Company Description

Victory Capital Holdings (VCTR) is a diversified asset management firm headquartered in the United States. The company provides a range of investment strategies and solutions across various asset classes, including equities, fixed income, and alternative investments, catering to both institutional and retail clients. Victory Capital operates through multiple investment franchises, each specializing in distinct investment approaches and philosophies, allowing them to deliver tailored investment solutions to meet the diverse needs of their clients.

How the Company Makes Money

Victory Capital generates revenue primarily through management fees charged on the assets under management (AUM) across its investment products. These fees are typically a percentage of the AUM and can vary based on the type of investment strategy offered. Additionally, the company earns performance fees when investment strategies exceed certain performance benchmarks, thus incentivizing strong investment returns. Another key revenue stream is the provision of advisory services and solutions to institutional clients, which may also be accompanied by consulting fees. Victory Capital's growth has been bolstered by strategic acquisitions and partnerships that expand its investment capabilities and client base, enabling it to enhance its earnings potential.

Victory Capital Holdings Financial Statement Overview

Summary

Victory Capital Holdings demonstrates strong revenue growth and profitability, supported by improved leverage management. However, the decline in free cash flow growth and slight pressure on operational margins may pose challenges. Overall, the company is financially healthy with room for improvement in cash flow management.

Income Statement

Victory Capital Holdings shows strong revenue growth with a 15.17% increase in TTM, indicating robust business expansion. The gross profit margin of 62.62% and net profit margin of 30.63% reflect efficient cost management and profitability. However, the slight decline in EBIT and EBITDA margins compared to the previous year suggests some pressure on operational efficiency.

Balance Sheet

The company has improved its financial stability with a reduced debt-to-equity ratio of 0.41 in TTM, down from 0.86 in the previous year, indicating better leverage management. The return on equity of 21.43% is strong, showcasing effective use of equity to generate profits. However, the equity ratio is not provided, which limits a full assessment of asset financing.

Cash Flow

The cash flow statement reveals a decline in free cash flow growth by 24.61% in TTM, which could impact future investment capabilities. The operating cash flow to net income ratio of 1.63 indicates good cash generation relative to net income, but the decrease in free cash flow growth is a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.03B	893.48M	821.03M	854.80M	890.26M	775.35M
Gross Profit	647.07M	529.77M	455.97M	455.50M	479.05M	402.51M
EBITDA	535.24M	477.97M	394.32M	413.59M	412.45M	360.56M
Net Income	316.48M	288.86M	213.16M	275.51M	278.39M	212.52M
Balance Sheet
Total Assets	4.25B	2.55B	2.54B	2.54B	2.58B	1.73B
Cash, Cash Equivalents and Short-Term Investments	107.87M	126.73M	123.55M	38.17M	69.53M	22.74M
Total Debt	1.01B	963.86M	1.00B	985.51M	1.13B	769.01M
Total Liabilities	1.78B	1.43B	1.49B	1.48B	1.65B	1.02B
Stockholders Equity	2.47B	1.12B	1.05B	1.07B	929.93M	707.54M
Cash Flow
Free Cash Flow	263.87M	338.70M	325.12M	329.97M	363.52M	242.56M
Operating Cash Flow	266.91M	339.98M	330.29M	335.21M	376.20M	250.62M
Investing Cash Flow	75.65M	-3.98M	-7.84M	-6.32M	-556.59M	-12.34M
Financing Cash Flow	-354.15M	-332.76M	-237.13M	-360.19M	227.22M	-252.70M

Victory Capital Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 61.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VCTR, the sentiment is Negative. The current price of 61.52 is below the 20-day moving average (MA) of 64.60, below the 50-day MA of 66.58, and below the 200-day MA of 63.59, indicating a bearish trend. The MACD of -1.31 indicates Positive momentum. The RSI at 40.36 is Neutral, neither overbought nor oversold. The STOCH value of 29.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VCTR.

Victory Capital Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCTR	76 Outperform	$4.11B	15.19	15.59%	3.07%	19.81%	12.83%
AB	76 Outperform	$3.57B	12.92	19.77%	8.76%	―	-12.92%
AMG	73 Outperform	$7.14B	15.35	15.95%	0.02%	1.03%	8.24%
CNS	71 Outperform	$3.43B	21.09	31.53%	3.52%	12.73%	19.01%
APAM	69 Neutral	$3.52B	12.15	62.04%	8.08%	5.46%	2.10%
FHI	68 Neutral	$3.84B	10.37	32.06%	2.75%	9.32%	53.51%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Victory Capital Holdings Corporate Events

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.

Victory Capital’s Earnings Call Highlights Record Growth

Victory Capital Holdings has reported a positive outlook during its latest earnings call, highlighting significant growth milestones. The company achieved record client assets and successfully executed a strategic acquisition with Amundi. Despite facing challenges such as net outflows and one-time acquisition costs, Victory Capital demonstrated robust financial performance and growth potential, especially in its ETF platform and international expansion.

Victory Capital Reports Stable AUM for July 2025

On August 11, 2025, Victory Capital Holdings reported its total assets under management (AUM) as of July 31, 2025, amounting to $299.8 billion, with total client assets reaching $302.9 billion. The announcement highlights the company’s stable asset management performance, with slight increases in various asset classes compared to the previous month, indicating a steady market position and potential positive implications for stakeholders.

The most recent analyst rating on (VCTR) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Victory Capital Holdings stock, see the VCTR Stock Forecast page.

Victory Capital Reports Strong Q2 2025 Results

Victory Capital Holdings, Inc. is a diversified global asset management firm based in San Antonio, Texas, managing specialized investment strategies across traditional and alternative asset classes for institutional, intermediary, and individual clients.