For the twelve months ended Sep 30, 2026, Victory Capital Holdings Inc. reported $1.59B of revenue and $455.66M of net income.
VCTR revenue was $396.57M in fiscal Q3 2026 (ended Sep 30, 2026), up 9.8% from a year earlier and down 8.9% from the prior quarter. For the full fiscal 2025 it was $1.31B, up 46.2% from fiscal 2024. Compound annual growth was +11.0% over 5 years and +18.4% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.
VCTR net income was $91.30M in fiscal Q3 2026 (ended Sep 30, 2026), down 5.4% from a year earlier and down 34.5% from the prior quarter. For the full fiscal 2025 it was $330.06M, up 14.3% from fiscal 2024. Compound annual growth was +9.2% over 5 years and +56.3% over 10 years. It rose in 6 of the last 8 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.
VCTR diluted EPS was $1.11 in fiscal Q3 2026 (ended Sep 30, 2026), up 0.0% from a year earlier and down 33.9% from the prior quarter. For the full fiscal 2025 it was $4.08, down 6.8% from fiscal 2024. Compound annual growth was +7.2% over 5 years and +48.2% over 10 years.
VCTR free cash flow was $222.42M in fiscal Q3 2026 (ended Sep 30, 2026), up 34.9% from a year earlier and up 65.8% from the prior quarter. For the full fiscal 2025 it was $381.33M, up 12.6% from fiscal 2024. Compound annual growth was +9.5% over 5 years and +25.7% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $893.48M | $821.03M | $854.80M | $890.26M | $775.35M | $612.37M | $413.41M | $413.41M | $297.88M |
| Selling, general and admin | $83.32M | $56.69M | $56.29M | $52.37M | $53.72M | $51.22M | $46.57M | $30.00M | $34.00M | $26.63M |
| Operating income | $478.42M | $427.51M | $328.46M | $399.11M | $373.85M | $314.71M | $164.62M | $114.52M | $90.17M | $24.48M |
| Pre-tax income | $438.32M | $373.76M | $275.91M | $350.03M | $350.64M | $278.54M | $120.69M | $84.91M | $38.46M | -$9.07M |
| Income tax | $108.26M | $84.89M | $62.75M | $74.52M | $72.25M | $66.02M | $28.20M | $21.21M | $12.63M | -$3.00M |
| Net income | $330.06M | $288.86M | $213.16M | $275.51M | $278.39M | $212.52M | $92.49M | $63.70M | $25.83M | -$6.07M |
| EPS, basic | $4.13 | $4.47 | $3.22 | $4.02 | $4.10 | $3.14 | $1.37 | $0.96 | $0.47 | -$0.12 |
| EPS, diluted | $4.08 | $4.38 | $3.12 | $3.81 | $3.75 | $2.88 | $1.26 | $0.90 | $0.43 | -$0.12 |
| Diluted shares | 66.4M | 65.9M | 68.2M | 72.3M | 74.2M | 73.7M | 73.5M | 70.5M | 59.6M | 50.0M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $163.69M | $126.73M | $123.55M | $38.17M | $69.53M | $22.74M | $37.12M | $51.49M | $12.92M | $16.44M |
| Goodwill | $1.24B | $981.80M | $981.80M | $981.80M | $981.80M | $404.75M | $404.75M | $284.11M | $284.11M | $284.11M |
| Total assets | $4.25B | $2.55B | $2.54B | $2.54B | $2.58B | $1.73B | $1.75B | $801.51M | $792.62M | $850.95M |
| Total debt | $970.01M | $963.86M | $989.27M | $985.51M | $1.13B | $769.01M | $924.54M | $268.86M | $483.23M | $418.53M |
| Total liabilities | $1.82B | $1.43B | $1.49B | $1.48B | $1.65B | $1.02B | $1.22B | $345.96M | $561.44M | $519.95M |
| Shareholders' equity | $2.42B | $1.12B | $1.05B | $1.07B | $929.93M | $707.54M | $537.87M | $455.55M | $231.18M | $331.00M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $385.49M | $339.98M | $330.29M | $335.21M | $376.20M | $250.62M | $227.38M | $134.34M | $96.17M | $39.54M |
| Capital expenditures | $4.16M | $1.28M | $5.17M | $5.25M | $12.67M | $8.06M | $5.24M | $2.55M | $5.11M | $1.16M |
| Free cash flow | $381.33M | $338.70M | $325.12M | $329.97M | $363.52M | $242.56M | $222.15M | $131.80M | $91.06M | $38.38M |
| Investing cash flow | $76.58M | -$3.98M | -$7.84M | -$6.32M | -$556.59M | -$12.34M | -$849.81M | -$11.55M | -$8.53M | -$210.08M |
| Financing cash flow | -$425.48M | -$332.76M | -$237.13M | -$360.19M | $227.22M | -$252.70M | $608.02M | -$84.16M | -$91.27M | $171.84M |
| Dividends paid | $156.96M | $101.12M | $85.43M | $69.20M | $37.16M | $16.24M | $7.44M | $831.0K | $135.17M | $627.0K |
| Share repurchases | $195.62M | $103.58M | $139.30M | $101.18M | $31.53M | $29.88M | $15.54M | $8.18M | $4.65M | $10.53M |
| Depreciation and amortization | $72.85M | $30.18M | $41.65M | $43.20M | $18.84M | $16.38M | $23.87M | $23.28M | $29.91M | $30.41M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 46.2% | 8.8% | -4.0% | -4.0% | 14.8% | 26.6% | 48.1% | 0.0% | 38.8% | 23.7% |
| Net income growth, YoY | 14.3% | 35.5% | -22.6% | -1.0% | 31.0% | 129.8% | 45.2% | 146.7% | - | - |
| EPS growth, YoY | -6.8% | 40.4% | -18.1% | 1.6% | 30.2% | 128.6% | 40.0% | 109.3% | - | - |
| Operating margin | 36.6% | 47.8% | 40.0% | 46.7% | 42.0% | 40.6% | 26.9% | 27.7% | 21.8% | 8.2% |
| Net margin | 25.3% | 32.3% | 26.0% | 32.2% | 31.3% | 27.4% | 15.1% | 15.4% | 6.2% | -2.0% |
| Free cash flow margin | 29.2% | 37.9% | 39.6% | 38.6% | 40.8% | 31.3% | 36.3% | 31.9% | 22.0% | 12.9% |
| Return on equity | 13.6% | 25.8% | 20.2% | 25.9% | 29.9% | 30.0% | 17.2% | 14.0% | 11.2% | -1.8% |
| Return on assets | 7.8% | 11.3% | 8.4% | 10.8% | 10.8% | 12.3% | 5.3% | 7.9% | 3.3% | -0.7% |
| Debt to equity | 0.40 | 0.86 | 0.94 | 0.93 | 1.21 | 1.09 | 1.72 | 0.59 | 2.09 | 1.26 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $396.57M | $435.36M | $387.99M | $374.12M | $361.19M | $351.21M | $219.60M | $232.37M | $225.63M | $219.62M | $215.86M | $205.79M |
| Selling, general and admin | $22.90M | $22.91M | $20.61M | $22.15M | $23.46M | $23.38M | $14.33M | $14.27M | $14.03M | $14.38M | $14.01M | $16.70M |
| Operating income | $137.72M | $193.75M | $159.19M | $153.18M | $138.13M | $94.21M | $92.91M | $111.75M | $120.36M | $110.60M | $84.81M | $86.32M |
| Pre-tax income | $123.94M | $187.25M | $147.86M | $141.66M | $129.27M | $86.99M | $80.40M | $98.59M | $107.50M | $95.78M | $71.89M | $73.52M |
| Income tax | $32.64M | $47.85M | $35.72M | $28.85M | $32.73M | $28.25M | $18.43M | $21.65M | $25.52M | $21.52M | $16.20M | $18.32M |
| Net income | $91.30M | $139.40M | $112.14M | $112.81M | $96.54M | $58.73M | $61.98M | $76.94M | $81.98M | $74.25M | $55.69M | $55.21M |
| EPS, basic | $1.12 | $1.70 | $1.34 | $1.35 | $1.12 | $0.69 | $0.97 | $1.20 | $1.26 | $1.15 | $0.86 | $0.85 |
| EPS, diluted | $1.11 | $1.68 | $1.33 | $1.33 | $1.11 | $0.68 | $0.96 | $1.18 | $1.24 | $1.12 | $0.84 | $0.81 |
| Diluted shares | 62.5M | 62.8M | 64.4M | - | 67.0M | 68.0M | 64.7M | - | 66.1M | 66.1M | 66.0M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $207.72M | $70.13M | $75.85M | $163.69M | $115.74M | $107.87M | $175.61M | $126.73M | $188.25M | $118.97M | $79.94M | $123.55M |
| Goodwill | $1.24B | $1.24B | $1.24B | $1.24B | $1.24B | $1.23B | $981.80M | $981.80M | $981.80M | $981.80M | $981.80M | $981.80M |
| Total assets | $4.24B | $4.18B | $4.14B | $4.25B | $4.21B | $4.25B | $2.58B | $2.55B | $2.61B | $2.54B | $2.51B | $2.54B |
| Total debt | $965.91M | $967.97M | $968.02M | $970.01M | $971.99M | $965.67M | $964.76M | $963.86M | $982.66M | $981.72M | $990.21M | $989.27M |
| Total liabilities | $1.81B | $1.80B | $1.78B | $1.82B | $1.81B | $1.78B | $1.44B | $1.43B | $1.44B | $1.42B | $1.43B | $1.49B |
| Shareholders' equity | $2.42B | $2.38B | $2.36B | $2.42B | $2.40B | $2.47B | $1.14B | $1.12B | $1.17B | $1.12B | $1.08B | $1.05B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $223.36M | $135.43M | $120.95M | $145.08M | $165.91M | -$6.59M | $81.09M | $91.81M | $99.78M | $79.70M | $68.68M | $97.10M |
| Capital expenditures | $937.0K | $1.24M | $849.0K | $599.0K | $1.08M | $890.0K | $1.59M | $155.0K | $398.0K | $225.0K | $500.0K | $796.0K |
| Free cash flow | $222.42M | $134.19M | $120.11M | $144.48M | $164.83M | -$7.48M | $79.50M | $91.66M | $99.38M | $79.48M | $68.18M | $96.31M |
| Investing cash flow | -$1.30M | -$3.11M | $16.67M | -$1.08M | -$458.0K | $79.80M | -$1.68M | -$2.40M | -$68.0K | -$605.0K | -$910.0K | -$1.57M |
| Financing cash flow | -$84.49M | -$138.05M | -$225.40M | -$96.03M | -$157.47M | -$141.27M | -$30.71M | -$150.75M | -$30.60M | -$40.07M | -$111.34M | -$80.04M |
| Dividends paid | $41.29M | $41.09M | $41.56M | $41.26M | $42.07M | $43.70M | $29.93M | $28.13M | $26.60M | $24.00M | $22.38M | $20.66M |
| Share repurchases | $6.53M | $91.44M | $127.23M | $50.69M | $118.51M | $25.96M | $451.0K | $96.86M | $1.63M | $2.14M | $2.95M | $57.48M |
| Depreciation and amortization | $20.52M | $20.59M | $20.58M | $21.59M | $22.03M | $21.79M | $7.43M | $7.51M | $7.51M | $7.55M | $7.60M | $7.98M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 9.8% | 24.0% | 76.7% | 61.0% | 60.1% | 59.9% | 1.7% | 12.9% | 7.6% | 7.5% | 7.2% | 2.1% |
| Net income growth, YoY | -5.4% | 137.3% | 80.9% | 46.6% | 17.8% | -20.9% | 11.3% | 39.4% | 57.6% | 31.0% | 13.0% | 5.6% |
| EPS growth, YoY | 0.0% | 147.1% | 38.5% | 12.7% | -10.5% | -39.3% | 14.3% | 45.7% | 61.0% | 34.9% | 18.3% | 9.5% |
| Operating margin | 34.7% | 44.5% | 41.0% | 40.9% | 38.2% | 26.8% | 42.3% | 48.1% | 53.3% | 50.4% | 39.3% | 41.9% |
| Net margin | 23.0% | 32.0% | 28.9% | 30.2% | 26.7% | 16.7% | 28.2% | 33.1% | 36.3% | 33.8% | 25.8% | 26.8% |
| Free cash flow margin | 56.1% | 30.8% | 31.0% | 38.6% | 45.6% | -2.1% | 36.2% | 39.4% | 44.0% | 36.2% | 31.6% | 46.8% |
| Debt to equity | 0.40 | 0.41 | 0.41 | 0.40 | 0.41 | 0.39 | 0.84 | 0.86 | 0.84 | 0.87 | 0.92 | 0.94 |
Source: XBRL data Victory Capital Holdings Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| VCTR | $1.59B | +36.9% | $455.66M | 28.6% | $7.84B |
| BX | $16.08B | +22.1% | $3.56B | 22.1% | $93.11B |
| KKR | $20.35B | +19.8% | $3.41B | 16.8% | $88.05B |
| APO | $30.82B | +12.2% | -$918.00M | -3.0% | $72.15B |
| ARES | $5.76B | +7.6% | $432.80M | 7.5% | $46.10B |
| AMP | $20.14B | +8.8% | $4.16B | 20.7% | $44.99B |
| TROW | $7.70B | +6.9% | $2.19B | 28.4% | $23.64B |
| TPG | $5.17B | +21.6% | $268.72M | 5.2% | $18.89B |