# Victory Capital Holdings Inc. (VCTR) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Financial Services / Capital Markets. Price $113.73, market value $7.0 billion.

## Valuation
- **P/E (trailing): 20.7×** (5-yr avg 10.9×, 3-yr avg 13.3×). Victory Capital Holdings Inc. trades at 20.7× trailing earnings, well above its own five-year average of 10.9×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 13.3×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 4.5×**. Each dollar of revenue is priced at 4.5×.
- **Price / book: 2.9×**. The shares trade at 2.9× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.7×**. Enterprise value is 10.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 8.1%** (5-yr avg 13.4%). Free cash flow equals 8.1% of the market value, below its five-year average of 13.4%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 4.8%**. The inverse of the P/E: 4.8% of the price is earned each year.

## Profitability
- **Operating margin: 41.3%**. 41.3% of revenue is left after running the business, an exceptional level.
- **Net margin: 25.3%**. 25.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 13.6%**. 13.6% on shareholders' equity is solid.
- **Return on invested capital: 15.8%**. Return on all capital, debt included, is 15.8%: comfortably above what that capital costs.
- **Return on assets: 10.9%**. Each dollar of assets produces 10.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 46.2%** (3-yr 15.2%/yr, 5-yr 11.0%/yr). Revenue grew 46.2% over the last year, against 11.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -6.8%** (3-yr 2.3%/yr, 5-yr 7.2%/yr). Earnings per share fell 6.8%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 4.9%/yr**. Free cash flow has compounded at 4.9% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: $164 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 1.76%** ($1.97 per share, trailing). Victory Capital Holdings Inc. yields 1.76%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 48%** (29% of free cash flow). 48% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 7**. 7 straight years of increases.
- **Dividend growth (5 yr): 53.2%/yr** (1-yr 24.8%). The dividend has compounded at 53.2% a year over five years, doubling roughly every 1 years at that pace.

## Analyst view
- **Analyst consensus: hold** (6 analysts). 6 analysts cover Victory Capital Holdings Inc.; the consensus is hold, with an average price target of $110.33 (-3% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 61.7%** (YTD 82.6%, 3-mo 30.7%). The shares are up 61.7% over twelve months including dividends.
- **From 52-week high: -7.9%** (99.4% above the low). Trading 8% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 1.06** (volatility 32%). Beta of 1.06 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=VCTR · Page: https://foliofundamentals.com/stocks/vctr

Not investment advice.