Victory Capital Holdings, Inc.

VCTR

VCTRVictory Capital Holdings, Inc. US flag

NASDAQ Global Select

85.06

USD

+0.39

- -

5.32BMarket Cap

Income Statement (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	241	298	410	413	612	775	890	855	821	893	1,306
+ Sales & Services Revenue	241	298	410	413	612	775	890	855	821	893	1,306
- Cost of Revenue	145	200	248	241	326	373	411	399	371	364	595
+ Cost of Goods & Services	145	200	248	241	326	373	411	399	371	364	595
Gross Profit	95	98	162	173	286	403	479	455	450	530	711
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	50	57	64	53	70	68	73	96	98	87	156
+ Selling, General & Admin	23	27	34	30	47	51	54	52	56	57	83
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	27	30	30	23	24	16	19	43	42	30	73
Operating Income (Loss)	45	41	98	120	216	335	406	360	353	443	555
- Non-Operating (Income) Loss	38	50	60	35	95	56	56	10	77	69	117
+ Interest Expense, Net	23	30	50	24	32	30	16	43	50	50	37
+ Interest Expense	23	31	47	21	38	34	22	47	77	77	66
- Interest Income	- -	1	-3	-3	7	4	6	4	27	27	28
+ Other Non-Op (Income) Loss	15	20	10	10	63	26	40	-33	27	19	80
Pretax Income	7	-9	38	85	121	279	351	350	276	374	438
- Income Tax Expense (Benefit)	3	-3	13	21	28	66	72	75	63	85	108
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	4	-6	26	64	92	213	278	276	213	289	330
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	4	-6	26	64	92	213	278	276	213	289	330
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	4	-6	26	64	92	213	278	276	213	289	330
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	29
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	4	-6	26	64	92	213	278	276	213	289	301
EBIT	45	41	98	120	216	335	406	360	353	443	555
EBITDA	73	71	128	143	239	351	425	403	394	473	628
EBITDA Margin (%)	30.11	23.88	31.27	34.55	39.09	45.31	47.78	47.16	48.01	52.95	48.07
EBITA	45	41	98	120	216	335	406	360	353	443	555
Gross Margin (%)	39.65	32.82	39.57	41.81	46.69	51.91	53.81	53.29	54.86	59.29	54.45
Operating Margin (%)	18.78	13.68	23.97	28.92	35.19	43.19	45.66	42.11	42.93	49.57	42.49
Profit Margin (%)	1.58	-2.04	6.3	15.41	15.1	27.41	31.27	32.23	25.96	32.33	25.27
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.9	0.01	2.45	0.01	0.11	0.24	0.55	1.01	1.29	1.57	2.4
Depreciation Expense	27	30	30	23	24	16	19	43	42	30	73
Basic Weighted Avg Shares	67	67	55	66	68	68	68	68	66	65	65
Basic EPS, GAAP	0.06	-0.09	0.47	0.96	1.37	3.14	4.1	4.02	3.22	4.47	4.6
Basic EPS from Cont Ops	0.06	-0.09	0.47	0.96	1.37	3.14	4.1	4.02	3.22	4.47	5.04
Diluted Weighted Avg Shares	71	71	55	71	73	74	74	72	68	66	66
Diluted EPS, GAAP	0.05	-0.09	0.47	0.9	1.26	2.88	3.75	3.81	3.12	4.38	4.53
Diluted EPS from Cont Ops	0.05	-0.09	0.47	0.9	1.26	2.88	3.75	3.81	3.12	4.38	4.97

Balance Sheet (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	56	105	75	99	138	117	180	131	217	236	361
+ Cash, Cash Equivalents & STI	16	17	14	52	38	24	70	38	124	127	164
+ Cash & Cash Equivalents	15	16	13	51	37	23	70	38	124	127	164
+ ST Investments	1	1	1	1	1	1	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	37	84	56	44	95	88	104	84	88	101	181
+ Accounts Receivable, Net	30	48	46	41	94	85	98	83	86	99	176
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	7	36	10	3	1	3	7	2	1	1	5
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	4	4	5	3	5	5	7	8	6	9	16
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	564	746	718	703	1,615	1,614	2,399	2,410	2,326	2,312	3,887
+ Property, Plant & Equip, Net	7	10	9	9	13	19	25	21	20	12	24
+ Property, Plant & Equip	10	17	19	22	27	28	39	41	48	49	72
- Accumulated Depreciation	4	7	10	13	14	9	14	20	29	37	48
+ LT Investments & Receivables	3	6	11	13	18	1	1	- -	1	1	1
+ LT Investments	3	6	11	13	18	1	1	- -	1	1	1
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	555	731	698	681	1,584	1,594	2,373	2,388	2,306	2,299	3,862
+ Total Intangible Assets	549	718	692	672	1,580	1,567	2,332	2,296	2,264	2,242	3,714
+ Goodwill	220	284	284	284	405	405	982	982	982	982	1,236
+ Other Intangible Assets	329	434	408	388	1,175	1,163	1,350	1,315	1,282	1,261	2,478
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	6	12	6	9	4	27	41	92	42	57	149
Total Assets	620	851	793	802	1,753	1,731	2,580	2,541	2,543	2,548	4,248
+ Payables & Accruals	29	49	32	26	208	135	371	281	274	198	160
+ Accounts Payable	1	4	- -	1	- -	42	62	51	56	58	72
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	27	45	32	26	208	92	309	230	217	140	88
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	29	49	32	26	208	135	371	281	274	198	160
+ LT Debt	312	419	483	269	925	769	1,128	986	989	964	970
+ LT Borrowings	312	419	483	269	925	769	1,128	986	989	964	970
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	30	53	46	51	83	120	150	209	227	264	693
+ Accrued Liabilities	3	6	15	19	24	60	94	135	160	192	560
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	27	47	32	32	59	59	56	74	67	73	133
Total Noncurrent Liabilities	342	471	530	320	1,008	889	1,278	1,194	1,216	1,228	1,663
Total Liabilities	371	520	561	346	1,215	1,023	1,650	1,475	1,490	1,426	1,823
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	322	422	436	605	625	648	674	706	729	753	2,104
+ Common Stock	- -	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	321	422	435	604	625	648	674	705	728	752	2,103
- Treasury Stock	4	16	21	30	53	95	153	285	444	575	786
+ Retained Earnings	-68	-75	-184	-120	-35	162	403	609	737	925	1,098
+ Other Equity	-1	-1	- -	- -	- -	-7	6	35	31	19	9
Equity Before Minority Interest	249	331	231	456	538	708	930	1,065	1,053	1,122	2,425
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	249	331	231	456	538	708	930	1,065	1,053	1,122	2,425
Total Liabilities & Equity	620	851	793	802	1,753	1,731	2,580	2,541	2,543	2,548	4,248
Shares Outstanding	55	55	55	68	68	68	69	67	64	64	64
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	297	402	470	217	887	746	1,058	947	866	837	806
Net Debt to Equity	118.97	121.48	203.43	47.72	164.99	105.47	113.81	88.92	82.21	74.63	33.25
Tangible Common Equity Ratio	-420.59	-292.44	-458.57	-166.69	-602.21	-526.42	-564.86	-503.58	-433.95	-367.26	-241.26
Current Ratio	1.95	2.17	2.35	3.78	0.66	0.87	0.49	0.47	0.79	1.19	2.26
Cash Conversion Cycle	- -	43.45	39.08	37.84	39.67	21.27	-8.82	-13.1	-15.33	-19.54	-1.46

Cash Flow Statement (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	4	-6	26	64	92	213	278	276	213	289	330
+ Depreciation & Amortization	27	30	30	23	24	16	19	43	42	30	73
+ Non-Cash Items	14	13	39	35	50	75	65	12	29	43	76
+ Stock-Based Compensation	9	12	17	17	22	23	26	18	22	20	46
+ Deferred Income Taxes	2	-3	11	4	-1	35	19	36	22	33	34
+ Asset Impairment Charge	- -	- -	4	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	2	4	6	13	29	17	19	-41	-14	-10	-4
+ Chg in Non-Cash Work Cap	-4	2	1	12	61	-53	14	4	46	-22	-94
+ (Inc) Dec in Accts Receiv	4	-5	23	11	-22	6	-10	20	-4	-13	-36
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	1	1	-1	- -	-2	-1	- -	-2	- -	-3	-2
+ Inc (Dec) in Accts Payable	-2	6	-9	1	64	-47	19	-6	3	-3	-31
+ Inc (Dec) in Other	-6	- -	-12	1	20	-10	5	-8	47	-3	-24
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	41	40	96	134	227	251	376	335	330	340	385
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	3	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	3	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-2	-1	-5	-3	-5	-8	-13	-5	-5	-1	-4
+ Acq of Fixed Prod Assets	-2	-1	-5	-3	-5	-8	-13	-5	-5	-1	-4
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	79	-1	148	-11	-25	-23	-87	-133	-95	-194
+ Increase in Capital Stock	2	89	3	157	4	5	8	14	6	9	2
+ Decrease in Capital Stock	-1	-11	-5	-8	-16	-30	-32	-101	-139	-104	-196
+ Net Change in LT Investment	-2	-1	-4	-5	-4	-3	-5	- -	-3	-3	27
+ Dec in LT Investment	3	4	5	3	3	5	10	24	11	11	75
+ Inc in LT Investment	-5	-5	-10	-8	-7	-7	-15	-24	-14	-13	-48
+ Net Cash From Acq & Div	-16	-207	-2	-4	-841	-2	-539	-1	- -	- -	54
+ Cash from Divestitures	- -	- -	- -	- -	11	- -	- -	- -	- -	- -	54
+ Cash for Acq of Subs	-16	-207	-2	-4	-851	-2	-539	-1	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-20	-210	-9	-12	-850	-12	-557	-6	-8	-4	77
+ Dividends Paid	-60	-1	-135	-1	-7	-16	-37	-69	-85	-101	-157
+ Net Cash From Debt	33	112	57	-221	660	-162	360	-149	- -	-30	3
+ Cash From Debt	50	133	125	359	1,089	- -	502	- -	- -	- -	241
+ Repayments of Debt	-17	-21	-68	-580	-428	-162	-142	-149	- -	-30	-238
+ Other Financing Activities	-4	-18	-12	-10	-33	-49	-73	-55	-19	-107	-78
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-31	172	-91	-84	608	-253	227	-360	-237	-333	-425
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-11	1	-4	39	-14	-14	47	-31	85	3	37
EBITDA	73	71	128	143	239	351	425	403	394	473	628
EBITDA Margin (%)	30.11	23.88	31.27	34.55	39.09	45.31	47.78	47.16	48.01	52.95	48.07
Free Cash Flow	39	38	91	132	222	243	364	330	325	339	381
Net Cash Paid for Acquisitions	16	207	2	4	841	2	539	1	- -	- -	-54
Free Cash Flow to Firm	51	- -	123	148	252	269	381	367	384	399	431
Free Cash Flow to Equity	- -	150	151	-89	883	80	724	181	325	309	355
Free Cash Flow per Basic Share	0.58	0.58	1.65	1.99	3.29	3.58	5.35	4.82	4.91	5.24	5.83
Price/Free Cash Flow	- -	- -	- -	5.26	6.62	7.07	6.97	5.69	7	12.65	10.75
Cash Flow to Net Income	10.7	-6.51	3.72	2.11	2.46	1.18	1.35	1.22	1.55	1.18	1.17
Capital Expenditures	-2	-1	-5	-3	-5	-8	-13	-5	-5	-1	-4