VCTR Stock Analysis: Victory Capital Holdings | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 7.269m USD | 12M Return: 70.7% | US92645B1035 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 54.7M
EPS Trend: 97.7%
Qual. Beats: 3
Rev. Trend: 93.1%
Qual. Beats: 2
Warnings
No concerns identified
Tailwinds
Seasonality 8.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Victory Capital Holdings (VCTR) is a US-based asset management company serving institutional, intermediary, retirement platform, and individual clients across the United States and internationally. Its product suite spans actively and passively managed mutual funds, ETFs, institutional separate accounts, variable insurance products, alternative investments, private closed-end funds, 529 college savings plans, and a variety of third-party distribution platforms. The firm also provides investment management, fund administration, transfer agent, and fund distribution services. The company was incorporated in 2013, is headquartered in San Antonio, Texas, and completed its NASDAQ IPO in February 2018.
As an asset manager, Victory Capitals revenue is primarily driven by fees calculated as a percentage of assets under management (AUM), so results are highly sensitive to market valuations and net client flows. The firm operates under a multi-affiliate model, in which it maintains a number of specialty investment franchises alongside its own branded products-a structure common in the mid-cap segment of the US asset management industry.
- AUM growth tracks equity market rally and net inflows
- Acquisitions like WestEnd and NewBridge expand investment strategy lineup
- Fee compression from passive competition pressures operating margins
| Net Income: 460.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 7.28 > 1.0 |
| NWC/Revenue: 10.79% < 20% (prev 15.63%; Δ -4.84% < -1%) |
| CFO/TA 0.14 > 3% & CFO 567.0m > Net Income 460.9m |
| Net Debt (986.2m) to EBITDA (745.2m): 1.32 < 3 |
| Current Ratio: 1.65 > 1.5 & < 3 |
| Outstanding Shares: last quarter (62.8m) vs 12m ago -7.65% < -2% |
| Gross Margin: 71.07% > 18% (prev 60.55%; Δ 10.52% > 0.5%) |
| Asset Turnover: 37.01% > 50% (prev 24.21%; Δ 12.80% > 0%) |
| Interest Coverage Ratio: 7.09 > 6 (EBIT TTM 642.1m / Interest Expense TTM 90.6m) |
| A: 0.04 (Total Current Assets 428.6m - Total Current Liabilities 260.4m) / Total Assets 4.18b |
| B: 0.30 (Retained Earnings 1.27b / Total Assets 4.18b) |
| C: 0.15 (EBIT TTM 642.1m / Avg Total Assets 4.21b) |
| D: 1.32 (Book Value of Equity 2.38b / Total Liabilities 1.80b) |
| Altman-Z'' = 3.66 = AA |
| DSRI: 0.79 (Receivables 244.3m/205.2m, Revenue 1.56b/1.03b) |
| GMI: 0.85 (GM 60.55% / 71.07%) |
| AQI: 0.96 (AQ_t 0.88 / AQ_t-1 0.92) |
| SGI: 1.52 (Revenue 1.56b / 1.03b) |
| TATA: -0.03 (NI 460.9m - CFO 567.0m) / TA 4.18b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of August 19, 2026, the stock is trading at USD 117.77 with a total of 430,447 shares traded. Over the past week, the price has changed by +3.63%, over one month by +19.94%, over three months by +36.02% and over the past year by +70.72%.
Current recommended Stop Loss: 113.20 (which is 3.9% or 1.4 ATR below the current price).
Victory Capital Holdings has received a consensus analysts rating of 3.75. Therefore, it is recommended to hold VCTR.
- StrongBuy: 2
- Buy: 2
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 107.5 | -8.7% |
P/E Trailing = 21.1395
P/E Forward = 15.0602
P/S = 4.6633
P/B = 2.8863
Revenue TTM = 1.56b USD
EBIT TTM = 642.1m USD
EBITDA TTM = 745.2m USD
Long Term Debt = 968.0m USD (from longTermDebt, last quarter)
Short Term Debt = 44.2m USD (from shortTermDebt, last quarter)
Debt = 1.06b USD (from shortLongTermDebtTotal, last quarter) + Leases 44.2m
Net Debt = 986.2m USD (calculated: Debt 1.06b - CCE 70.1m)
Enterprise Value = 8.25b USD (7.27b + Debt 1.06b - CCE 70.1m)
Interest Coverage Ratio = 7.09 (Ebit TTM 642.1m / Interest Expense TTM 90.6m)
EV/FCF = 14.66x (Enterprise Value 8.25b / FCF TTM 563.2m)
FCF Yield = 6.82% (FCF TTM 563.2m / Enterprise Value 8.25b)
FCF Margin = 36.13% (FCF TTM 563.2m / Revenue TTM 1.56b)
Net Margin = 29.56% (Net Income TTM 460.9m / Revenue TTM 1.56b)
Gross Margin = 71.07% ((Revenue TTM 1.56b - Cost of Revenue TTM 451.1m) / Revenue TTM)
Gross Margin QoQ = 71.17% (prev 72.05%)
Tobins Q-Ratio = 1.98 (Enterprise Value 8.25b / Total Assets 4.18b)
Interest Expense / Debt = 8.58% (Interest Expense 90.6m / Debt 1.06b)
Taxrate = 23.95% (145.1m / 606.0m)
NOPAT = 488.4m (EBIT 642.1m * (1 - 23.95%))
Current Ratio = 1.65 (Total Current Assets 428.6m / Total Current Liabilities 260.4m)
Debt / Equity = 0.44 (Debt 1.06b / totalStockholderEquity, last quarter 2.38b)
Debt / EBITDA = 1.32 (Net Debt 986.2m / EBITDA 745.2m)
Debt / FCF = 1.75 (Net Debt 986.2m / FCF TTM 563.2m)
Total Stockholder Equity = 2.39b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.94% (Net Income 460.9m / Total Assets 4.18b)
RoE = 19.29% (Net Income TTM 460.9m / Total Stockholder Equity 2.39b)
RoCE = 19.12% (EBIT 642.1m / Capital Employed (Equity 2.39b + L.T.Debt 968.0m))
RoIC = 12.56% (NOPAT 488.4m / Invested Capital 3.89b)
WACC = 9.45% (E(7.27b)/V(8.32b) * Re(9.87%) + D(1.06b)/V(8.32b) * Rd(8.58%) * (1-Tc(0.24)))
Discount Rate = 9.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.39 | Cagr: -2.18%
[DCF] Terminal Value 74.51% ; FCFF base≈443.5m ; Y1≈508.4m ; Y5≈748.2m
[DCF] Fair Price = 137.4 (EV 9.44b - Net Debt 986.2m = Equity 8.45b / Shares 61.5m; r=9.45% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.68 | EPS CAGR: 20.57% | SUE: 2.88 | # QB: 3
Revenue Correlation: 93.14 | Revenue CAGR: 27.90% | SUE: 4.0 | # QB: 2
EPS current Quarter (2026-09-30): EPS=1.95 | Chg30d=+7.22% | Revisions=+50% | Analysts=7
EPS current Year (2026-12-31): EPS=8.00 | Chg30d=+10.12% | Revisions=+50% | GrowthEPS=+25.4% | GrowthRev=+25.9%
EPS next Year (2027-12-31): EPS=8.58 | Chg30d=+8.99% | Revisions=+70% | GrowthEPS=+7.3% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: +75% (up=16, down=1)