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VCTR 
Victory Capital Holdings Inc (VCTR)
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Upturn Advisory Summary
12/24/2025: VCTR (2-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
8 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $72.17
1 Year Target Price $72.17
| 2 | Strong Buy |
| 2 | Buy |
| 4 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 52.4% | Avg. Invested days 70 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 12/24/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.29B USD | Price to earnings Ratio 16.47 | 1Y Target Price 72.17 |
Price to earnings Ratio 16.47 | 1Y Target Price 72.17 | ||
Volume (30-day avg) 8 | Beta 1.12 | 52 Weeks Range 45.96 - 71.93 | Updated Date 12/25/2025 |
52 Weeks Range 45.96 - 71.93 | Updated Date 12/25/2025 | ||
Dividends yield (FY) 2.92% | Basic EPS (TTM) 3.9 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 25.27% | Operating Margin (TTM) 44.17% |
Management Effectiveness
Return on Assets (TTM) 9.69% | Return on Equity (TTM) 16.46% |
Valuation
Trailing PE 16.47 | Forward PE 9.21 | Enterprise Value 5027249531 | Price to Sales(TTM) 3.68 |
Enterprise Value 5027249531 | Price to Sales(TTM) 3.68 | ||
Enterprise Value to Revenue 4.32 | Enterprise Value to EBITDA 9.63 | Shares Outstanding 64935459 | Shares Floating 46949636 |
Shares Outstanding 64935459 | Shares Floating 46949636 | ||
Percent Insiders 10.43 | Percent Institutions 80.65 |
Upturn AI SWOT
Victory Capital Holdings Inc
Company Overview
History and Background
Victory Capital Holdings Inc. was founded in 1996. It has undergone significant transformation through strategic acquisitions and organic growth, evolving into a diversified investment management company. A key milestone was its IPO in 2018. The company has focused on consolidating smaller asset managers and integrating them onto its platform to achieve scale and operational efficiencies.
Core Business Areas
- Investment Management Platform: Victory Capital operates a multi-boutique investment management platform, offering a wide range of investment strategies across various asset classes. This includes actively managed mutual funds, ETFs, and separately managed accounts.
- Retirement Services: The company provides investment solutions and services tailored for retirement plans, including 401(k)s and 529 plans, serving both institutional and retail clients.
- Institutional and Retail Distribution: Victory Capital distributes its investment products through a network of financial advisors, institutional consultants, and direct-to-consumer channels.
Leadership and Structure
Victory Capital Holdings Inc. is led by a senior management team with extensive experience in the financial services industry. The company is structured around its multi-boutique model, with specialized investment teams managing distinct strategies, supported by centralized operational and distribution functions.
Top Products and Market Share
Key Offerings
- Product Name 1: Actively Managed Mutual Funds: Victory Capital offers a broad suite of actively managed mutual funds spanning equity, fixed income, and balanced strategies. These funds aim to outperform benchmarks and cater to investors seeking professional active management. Key competitors include BlackRock, Vanguard, and Fidelity. Specific market share data for individual mutual fund products is not publicly disclosed, but the overall U.S. mutual fund market is highly competitive.
- Product Name 2: Exchange Traded Funds (ETFs): The company also offers a growing range of ETFs, providing cost-effective and diversified investment solutions. Competitors include State Street Global Advisors, iShares (BlackRock), and Vanguard. While its ETF offerings are expanding, its market share is smaller compared to the established ETF providers.
- Product Name 3: 529 College Savings Plans: Victory Capital is a significant provider of 529 college savings plans, offering tax-advantaged investment vehicles for education savings. This segment is competitive, with other major financial institutions offering similar plans.
Market Dynamics
Industry Overview
The investment management industry is characterized by intense competition, fee compression, and a shift towards passive investing and low-cost ETFs. However, there remains a significant demand for actively managed strategies, particularly in niche areas and for institutional clients. Regulatory changes and technological advancements also play a crucial role in shaping the industry.
Positioning
Victory Capital is positioned as a diversified investment management platform with a multi-boutique structure, allowing it to offer a wide array of investment solutions. Its strategy of acquiring and integrating smaller asset managers aims to achieve scale and leverage its platform. Its competitive advantages lie in its diversified revenue streams, focus on operational efficiency, and ability to attract and retain specialized investment teams.
Total Addressable Market (TAM)
The global asset management market is trillions of dollars. Victory Capital operates within the U.S. asset management market, which is a significant portion of this global TAM. While the company has a substantial amount of assets under management (AUM), it represents a smaller fraction of the overall TAM, indicating ample room for growth through organic means and further acquisitions.
Upturn SWOT Analysis
Strengths
- Diversified multi-boutique platform offering a wide range of investment strategies.
- Proven track record of successful acquisitions and integration.
- Strong focus on operational efficiency and cost management.
- Diversified revenue streams across different client segments and product types.
- Experienced management team with a deep understanding of the asset management industry.
Weaknesses
- Relatively smaller scale compared to industry giants.
- Potential for integration challenges with future acquisitions.
- Dependence on market performance for AUM growth.
- Competitive pressure on fees, impacting profit margins.
- Brand recognition may be lower than established global asset managers.
Opportunities
- Continued consolidation in the asset management industry, offering acquisition targets.
- Growing demand for customized investment solutions and alternative strategies.
- Expansion into new geographic markets.
- Leveraging technology for enhanced client experience and operational efficiency.
- Increased investor interest in ESG (Environmental, Social, and Governance) investments.
Threats
- Intensifying competition and fee pressure.
- Shift towards passive investing and lower-cost alternatives.
- Adverse market conditions and economic downturns.
- Evolving regulatory landscape.
- Talent retention challenges in the competitive asset management sector.
Competitors and Market Share
Key Competitors
- BlackRock (BLK)
- Vanguard Group (Private)
- Fidelity Investments (Private)
- State Street Corporation (STT)
- T. Rowe Price Group (TROW)
Competitive Landscape
Victory Capital competes in a highly fragmented market. Its main advantages lie in its specialized multi-boutique model, which allows for agility and focused investment expertise, and its disciplined acquisition strategy. However, it faces disadvantages in terms of scale and brand recognition compared to larger, more established competitors like BlackRock and Vanguard, which have significant market power and lower cost structures.
Major Acquisitions
USI Advisors
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: Acquired to expand Victory Capital's retirement plan services and its presence in the defined contribution market.
New Capital Management
- Year: 2021
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition aimed at broadening Victory Capital's capabilities in systematic active management and ESG strategies.
Allianz Global Investors' U.S. business
- Year: 2022
- Acquisition Price (USD millions): 450
- Strategic Rationale: Significant acquisition to enhance Victory Capital's scale, diversify its investment capabilities, and expand its institutional client base.
Growth Trajectory and Initiatives
Historical Growth: Victory Capital has achieved historical growth primarily through strategic acquisitions of asset management firms. This inorganic growth has been complemented by efforts to scale its distribution and operational platform. The company has successfully integrated multiple acquired businesses, increasing its AUM and revenue base.
Future Projections: Future growth is expected to continue through a combination of opportunistic acquisitions and organic growth. Analysts' projections often focus on AUM growth driven by market appreciation and net inflows, as well as the successful integration of new acquisitions. Expansion of its product offerings and distribution channels are also key factors.
Recent Initiatives: Recent initiatives likely include ongoing efforts to optimize its operating platform, enhance its distribution capabilities, and identify suitable acquisition targets that align with its strategic objectives. The company may also be investing in technology and talent to further differentiate itself in the market.
Summary
Victory Capital Holdings Inc. is a diversified investment management company with a strong growth strategy centered on acquisitions and a multi-boutique platform. Its strengths lie in its operational efficiency and diverse product offerings. However, it faces significant competition from larger players and fee pressures. Continued successful integration of acquisitions and navigating market shifts are crucial for its future success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Victory Capital Holdings Inc. Investor Relations website
- SEC Filings (10-K, 10-Q)
- Financial news and analysis websites (e.g., Bloomberg, Refinitiv, Wall Street Journal)
- Industry research reports
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Numerical data regarding market share, acquisition prices, and historical financial metrics are estimates or based on publicly available information which may not be exhaustive or perfectly up-to-date. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Victory Capital Holdings Inc
Exchange NASDAQ | Headquaters San Antonio, TX, United States | ||
IPO Launch date 2018-02-08 | Chairman of the Board of Directors & CEO Mr. David Craig Brown CPA | ||
Sector Financial Services | Industry Asset Management | Full time employees 460 | Website https://vcm.com |
Full time employees 460 | Website https://vcm.com | ||
Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company in the United States and internationally. The company offers specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. It 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, and undertakings for the collective investment in transferable securities. In addition, the company 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.
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