VCTR Stock Analysis: Victory Capital Holdings | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 5.220m USD | 12M Return: 36.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 42.5M
EPS Trend: 91.9%
Qual. Beats: 0
Rev. Trend: 89.7%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 8.4 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
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: 380.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -3.40 > 1.0 |
| NWC/Revenue: 8.04% < 20% (prev 7.35%; Δ 0.69% < -1%) |
| CFO/TA 0.10 > 3% & CFO 425.0m > Net Income 380.2m |
| Net Debt (979.7m) to EBITDA (644.5m): 1.52 < 3 |
| Current Ratio: 1.77 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.4m) vs 12m ago -0.50% < -2% |
| Gross Margin: 70.91% > 18% (prev 59.86%; Δ 11.06% > 0.5%) |
| Asset Turnover: 43.86% > 50% (prev 34.73%; Δ 9.13% > 0%) |
| Interest Coverage Ratio: 8.38 > 6 (EBIT TTM 558.5m / Interest Expense TTM 66.7m) |
| A: 0.03 (Total Current Assets 273.4m - Total Current Liabilities 154.9m) / Total Assets 4.14b |
| B: 0.28 (Retained Earnings 1.17b / Total Assets 4.14b) |
| C: 0.17 (EBIT TTM 558.5m / Avg Total Assets 3.36b) |
| D: 1.32 (Book Value of Equity 2.36b / Total Liabilities 1.78b) |
| Altman-Z'' = 3.61 = AA |
| DSRI: 1.25 (Receivables 197.6m/95.8m, Revenue 1.47b/897.2m) |
| GMI: 0.84 (GM 59.86% / 70.91%) |
| AQI: 1.02 (AQ_t 0.91 / AQ_t-1 0.89) |
| SGI: 1.64 (Revenue 1.47b / 897.2m) |
| TATA: -0.01 (NI 380.2m - CFO 425.0m) / TA 4.14b) |
| Beneish M = -2.48 (Cap -4..+1) = BBB |
As of July 02, 2026, the stock is trading at USD 84.06 with a total of 400,147 shares traded. Over the past week, the price has changed by +2.70%, over one month by +1.82%, over three months by +32.88% and over the past year by +36.49%.
Current recommended Stop Loss: 80.20 (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 | 86.5 | 2.9% |
P/E Trailing = 18.7584
P/E Forward = 12.2549
P/S = 3.54
P/B = 2.2843
Revenue TTM = 1.47b USD
EBIT TTM = 558.5m USD
EBITDA TTM = 644.5m USD
Long Term Debt = 968.0m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 1.06b USD (from shortLongTermDebtTotal, last quarter) + Leases 43.8m
Net Debt = 979.7m USD (calculated: Debt 1.06b - CCE 75.8m)
Enterprise Value = 6.20b USD (5.22b + Debt 1.06b - CCE 75.8m)
Interest Coverage Ratio = 8.38 (Ebit TTM 558.5m / Interest Expense TTM 66.7m)
EV/FCF = 14.71x (Enterprise Value 6.20b / FCF TTM 421.6m)
FCF Yield = 6.80% (FCF TTM 421.6m / Enterprise Value 6.20b)
FCF Margin = 28.58% (FCF TTM 421.6m / Revenue TTM 1.47b)
Net Margin = 25.78% (Net Income TTM 380.2m / Revenue TTM 1.47b)
Gross Margin = 70.91% ((Revenue TTM 1.47b - Cost of Revenue TTM 429.0m) / Revenue TTM)
Gross Margin QoQ = 72.05% (prev 69.81%)
Tobins Q-Ratio = 1.50 (Enterprise Value 6.20b / Total Assets 4.14b)
Interest Expense / Debt = 6.32% (Interest Expense 66.7m / Debt 1.06b)
Taxrate = 24.82% (125.6m / 505.8m)
NOPAT = 419.9m (EBIT 558.5m * (1 - 24.82%))
Current Ratio = 1.77 (Total Current Assets 273.4m / Total Current Liabilities 154.9m)
Debt / Equity = 0.45 (Debt 1.06b / totalStockholderEquity, last quarter 2.36b)
Debt / EBITDA = 1.52 (Net Debt 979.7m / EBITDA 644.5m)
Debt / FCF = 2.32 (Net Debt 979.7m / FCF TTM 421.6m)
Total Stockholder Equity = 2.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.31% (Net Income 380.2m / Total Assets 4.14b)
RoE = 15.76% (Net Income TTM 380.2m / Total Stockholder Equity 2.41b)
RoCE = 16.52% (EBIT 558.5m / Capital Employed (Equity 2.41b + L.T.Debt 968.0m))
RoIC = 10.73% (NOPAT 419.9m / Invested Capital 3.91b)
WACC = 9.47% (E(5.22b)/V(6.28b) * Re(10.42%) + D(1.06b)/V(6.28b) * Rd(6.32%) * (1-Tc(0.25)))
Discount Rate = 10.42% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.56 | Cagr: -1.71%
[DCF] Terminal Value 74.44% ; FCFF base≈393.3m ; Y1≈450.8m ; Y5≈663.5m
[DCF] Fair Price = 117.8 (EV 8.34b - Net Debt 979.7m = Equity 7.36b / Shares 62.5m; r=9.47% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 91.87 | EPS CAGR: 14.48% | SUE: -0.74 | # QB: 0
Revenue Correlation: 89.69 | Revenue CAGR: 22.37% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-09-30): EPS=1.78 | Chg30d=+2.27% | Revisions=+20% | Analysts=7
EPS current Year (2026-12-31): EPS=7.18 | Chg30d=+5.01% | Revisions=+60% | GrowthEPS=+12.6% | GrowthRev=+18.1%
EPS next Year (2027-12-31): EPS=7.75 | Chg30d=+3.58% | Revisions=+56% | GrowthEPS=+8.0% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: +60%