VCTR Stock Analysis: Victory Capital Holdings | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 6.741m USD | 12M Return: 81.3% | US92645B1035 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 75.4M
EPS Trend: 97.7%
Qual. Beats: 3
Rev. Trend: 93.1%
Qual. Beats: 2
Warnings
No concerns identified
Tailwinds
Seasonality 8.6 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, Inc. (VCTR) is a US-based asset management company headquartered in San Antonio, Texas, operating domestically and internationally. Founded in 2013 and publicly listed on NASDAQ since February 2018, the firm serves a broad client base including institutions, intermediaries, retirement platforms, and individual investors.
The companys product suite spans actively and passively managed mutual funds, rules-based and active ETFs, institutional separate accounts, variable insurance products, alternative investments, private closed-end funds, and 529 education savings plans. It also distributes third-party investment products such as mutual funds, ETF model strategies, retail separately managed accounts, unified managed accounts, collective investment trusts, and other pooled vehicles. Beyond investment management, Victory Capital provides fund administration, fund transfer agent, and fund distribution services.
As a multi-affiliate asset manager in the Asset Management & Custody Banks sub-industry, Victory Capital generates revenue primarily through management and performance fees tied to client assets under management (AUM). The asset management sector is highly competitive, with firms typically pursuing growth through acquisitions of specialist investment boutiques and expanding product offerings across retail and institutional channels.
- Net flows accelerate as institutional and intermediary clients increase allocations
- Equity market gains boost assets under management and fee revenue
- Acquisition strategy expands platform with new specialized investment franchises
- Fee compression pressures operating margins amid competitive asset management landscape
| 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 October 05, 2026, the stock is trading at USD 113.23 with a total of 636,360 shares traded. Over the past week, the price has changed by +4.12%, over one month by +2.13%, over three months by +29.63% and over the past year by +81.27%.
Current recommended Stop Loss: 108.00 (which is 4.6% 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 | 114.3 | 1% |
P/E Trailing = 19.7477
P/E Forward = 12.6904
P/S = 4.3251
P/B = 2.7532
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 = 7.73b USD (6.74b + Debt 1.06b - CCE 70.1m)
Interest Coverage Ratio = 7.09 (Ebit TTM 642.1m / Interest Expense TTM 90.6m)
EV/FCF = 13.72x (Enterprise Value 7.73b / FCF TTM 563.2m)
FCF Yield = 7.29% (FCF TTM 563.2m / Enterprise Value 7.73b)
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 = 1.85 (Enterprise Value 7.73b / 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 = 9.47% (E(6.74b)/V(7.80b) * Re(9.93%) + D(1.06b)/V(7.80b) * Rd(8.58%) * (1-Tc(0.24)))
Discount Rate = 9.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.39 | Cagr: -2.18%
[DCF] Terminal Value 74.43% ; FCFF base≈443.5m ; Y1≈508.4m ; Y5≈748.2m
[DCF] Fair Price = 136.9 (EV 9.41b - Net Debt 986.2m = Equity 8.42b / Shares 61.5m; r=9.47% [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=1.96 | Chg30d=+0.29% | Revisions=+50% | Analysts=7
EPS current Year (2026-12-31): EPS=8.01 | Chg30d=+0.15% | Revisions=+67% | GrowthEPS=+25.5% | GrowthRev=+26.1%
EPS next Year (2027-12-31): EPS=8.55 | Chg30d=-0.33% | Revisions=+70% | GrowthEPS=+6.8% | GrowthRev=+5.8%
[Analyst] Revisions Ratio: +78% (up=19, down=1)