Victory Capital Holdings Inc
NASDAQ: VCTR · FINANCIAL SERVICES · ASSET MANAGEMENT
Updated 2026-06-05
Victory Capital Holdings Inc (VCTR) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40.65M | $39.54M | $96.17M | $134.34M | $227.38M | $250.62M | $376.20M | $335.21M | $330.29M | $339.98M | $240.41M |
| Capital expenditures | $1.93M | $1.16M | $5.11M | $2.55M | $5.24M | $8.06M | $12.67M | $5.25M | $5.17M | $1.28M | $3.56M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $8.99M | $12.02M | $17.18M | $17.35M | $22.12M | $22.52M | $26.50M | $17.72M | $21.54M | $20.09M | $134.56M |
| Free cash flow | $38.73M | $38.38M | $91.06M | $131.80M | $222.15M | $242.56M | $363.52M | $329.97M | $325.12M | $338.70M | $236.85M |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | $60.10M | $627000.00 | $135.17M | $831000.00 | $7.44M | $16.24M | $37.16M | $69.20M | $85.43M | $101.12M | $125.47M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | $-3.52M | $38.57M | $-14.41M | $-14.42M | $46.83M | $-31.29M | — | — | — |
Frequently asked questions
What is Victory Capital Holdings Inc's revenue?
Victory Capital Holdings Inc's trailing twelve-month revenue is $1.47B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is VCTR?
In its most recent fiscal year, VCTR ran a gross margin of 71.08%, an operating margin of 42.49%, and a net margin of 25.27%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does VCTR generate?
VCTR produced $236.85M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is VCTR's balance sheet healthy?
VCTR holds $163.69M in cash and equivalents against $970.01M in long-term debt, on $2.42B of shareholder equity. That debt is best read against the cash flow the business throws off each year.