Victory Capital Holdings, Inc. (VCTR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Victory Capital Holdings, Inc.

NasdaqGS•Financial Services•Asset Management

$103.72-1.85(-0.02%)Pre-market

Market Cap

$6.62B

P/E

14.4x

P/S

4.2x

P/B

2.8x

Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. The company also provides various investment products, including actively and passively managed mutual funds, rules-based and active exchange traded funds (ETF), institutional separate accounts, variable insurance products, alternative investments, private closed end funds, and a 529 education savings plan; and third-party investment products, such as mutual funds, third-party ETF model strategies, retail separately managed accounts, unified managed accounts, collective investment trusts, undertakings for the collective investment in transferable securities, and other pooled vehicles. In addition, it offers investment management services, fund administration services, fund transfer agent services, and fund distribution services. Victory Capital Holdings, Inc. was incorporated in 2013 and is based in San Antonio, Texas.

How this company scores

ExcellentMetricSide Score: 94/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (20/25).

Profitability25/25

Growth25/25

Balance Sheet & Red Flags20/25

Cash & Earnings Quality24/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 14.4x5y range 5.4x – 15.3x

Currently above its 20-quarter median.

P/S · 4.2x5y range 1.8x – 4.7x

Currently above its 20-quarter median.

P/B · 2.8x5y range 1.5x – 3.8x

Price & Volume

Market Cap $6.62B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.56B
Q. Revenue: $435.36M
TTM EBITDA: $729.02M
TTM Op. Income: $644.24M
Q. Op. Income: $193.75M
TTM Net Income: $460.90M
Q. Net Income: $139.40M
EPS: $1.7
Shares Out.: $62.15M

$1.56B in TTM revenue grew 51.5% YoY, reaching $435.36M last quarter. TTM EBITDA of $729.02M and TTM operating income of $644.24M show growth is flowing through to the bottom line. TTM net income of $460.90M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 49.2%
Op. Margin: 44.5%
Net Margin: 32.0%

Op. margin of 44.5% is up 17.7% YoY — cost efficiency is improving. Net margin at 32.0% Across the last 8 quarters, operating margin has risen for 4 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 14.4x
P/S Ratio: 4.2x
P/B Ratio: 2.8x

At 14.4x P/E, the stock trades below typical market levels. P/S of 4.2x and P/B of 2.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 6% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.18B
Cash: $70.13M
Long-Term Debt: $967.97M
Book Value: $2.38B
D/E Ratio: 0.4
Debt/EBITDA: 4.5

With $4.18B in assets and $967.97M in long-term debt, D/E is 0.4and book value is $2.38B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 4% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $135.43M
TTM Free Cash Flow: $563.60M
FCF Margin: 36.2%
FCF / Net Income: 1.2

TTM FCF of $563.60M on $135.43M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.