Victory Capital Holdings, Inc.

NasdaqGS:VCTR Stock Report

Market Cap: US$5.3b

Victory Capital Holdings Future Growth

Future criteria checks 4/6

Victory Capital Holdings is forecast to grow earnings and revenue by 32.4% and 3.4% per annum respectively. EPS is expected to grow by 25.4% per annum. Return on equity is forecast to be 24.3% in 3 years.

Key information

32.4%

Earnings growth rate

25.37%

EPS growth rate

Capital Markets earnings growth11.6%
Revenue growth rate3.4%
Future return on equity24.31%
Analyst coverage

Good

Last updated11 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 21

VCTR: Rich Multiple And Execution Risks Will Limit Buyback Driven Upside Potential

Analysts have lifted the fair value estimate for Victory Capital Holdings to $76 from $69, citing a mix of updated price targets and research that highlights steadier growth assumptions, a slightly lower discount rate, and higher projected profit margins, all set against a modestly lower future P/E multiple. Analyst Commentary Recent Street research around Victory Capital shows a mixed backdrop, with some firms lifting price targets while others trim expectations or reset ratings.
Narrative Update • May 01

VCTR: Buybacks And Margin Discipline Will Shape A Balanced Future Outlook

Analysts have made a modest adjustment to Victory Capital Holdings' price targets, with recent moves such as the $1 increase from JPMorgan and the $7 reduction from BofA reflecting updated assumptions for growth, margins and valuation multiples, rather than a wholesale change in the investment thesis. Analyst Commentary Recent research on Victory Capital Holdings has been mixed, but there is a clear cluster of constructive views emerging around the stock.
Seeking Alpha • Apr 23

Victory Capital Holdings: Another ~7% EBIT Lift From Synergies Incoming

Summary Victory Capital (VCTR) benefits from the Amundi US acquisition, driving a 33% AUM increase and material synergy potential. Integration synergies are expected to deliver a nearly 7% EBIT lift in the coming year, with $30 million not yet realised but to be realised soon. With full-year Amundi consolidation, synergies, and typical market growth, we anticipate an overall 35% EBIT/NI lift, supporting a forward PE of around 12x. VCTR doesn't trade at a discount though, and we aren't really confident in the state of markets as they ignore ongoing risks. Read the full article on Seeking Alpha
Narrative Update • Apr 17

VCTR: Buybacks And Margin Discipline Will Support A Higher Future P/E

Analysts have adjusted their price targets for Victory Capital Holdings in a tight range, with recent increases of $5 and $6 and smaller trims of $1 and $7, reflecting updated assumptions for discount rate, revenue growth, profit margin, and future P/E, while keeping the $84 fair value estimate unchanged. Analyst Commentary Recent research on Victory Capital Holdings shows that views are mixed but generally constructive, with several bullish analysts adjusting their models while keeping fair value assessments grounded in updated assumptions on discount rates, revenue, profitability, and future P/E multiples.
Narrative Update • Apr 02

VCTR: Buybacks And Expense Discipline Will Support A Higher Future Earnings Multiple

Analysts now place Victory Capital Holdings' fair value at $84, up from $78, reflecting updated assumptions around growth, profitability and valuation that align with recent mixed but generally constructive price target changes on the stock. Analyst Commentary Recent research updates on Victory Capital highlight a generally constructive tone, with several bullish analysts adjusting price targets while acknowledging areas of debate around valuation and execution.
Narrative Update • Mar 19

VCTR: Share Repurchases And Organic Expansion Will Support Future Margin Strength

Analysts have nudged the fair value estimate for Victory Capital Holdings to $74.75 from $73.67. This reflects updated assumptions around growth, profitability and valuation multiples that fed into recent Street price target changes.
Narrative Update • Mar 05

VCTR: Buybacks And UCITS Expansion Will Guide Balanced Execution Driven Return Potential

Analysts have nudged their average price target for Victory Capital Holdings higher by a few dollars into the high $60s, citing updated models that reflect slightly different assumptions for revenue growth, profit margins and forward P/E, while keeping their long term fair value view around $69 unchanged. Analyst Commentary Recent research around Victory Capital has been mixed, with some price targets nudged higher and at least one trimmed slightly.
Narrative Update • Feb 19

VCTR: Buybacks And UCITS Expansion Will Shape Balanced Future Return Profile

Analysts have raised their average price target for Victory Capital Holdings to $69 from $68, citing updated assumptions around fair value, discount rates, revenue growth, and profit margins reflected in recent Street research. Analyst Commentary Recent Street research on Victory Capital Holdings includes both upward and downward price target revisions, along with changes in ratings.
Narrative Update • Feb 04

VCTR: Expense Discipline And Buybacks Will Support Higher Future Earnings Multiple

Analysts have lowered their price target on Victory Capital Holdings by $1 to $70, citing updated assumptions around the discount rate, revenue growth, profit margins, and future P/E that reflect a more measured outlook. The fair value estimate remains unchanged at $78.
Narrative Update • Jan 21

VCTR: Expense Discipline And Buybacks Will Support Stronger Future Earnings Power

Analysts have trimmed their fair value estimate for Victory Capital Holdings to US$78.00 from US$82.00, reflecting a slightly higher discount rate, more cautious revenue growth assumptions, a higher projected profit margin, and a lower future P/E multiple, alongside a recent Street price target move to US$70.00 from US$71.00 following expense-driven Q3 results. Analyst Commentary The most recent Street commentary specific to Victory Capital centers on a modest trimming of fair value and price targets, alongside a Neutral stance.
Narrative Update • Jan 07

VCTR: Expense Discipline And Buybacks Will Shape Balanced Future Return Profile

Analysts recently trimmed their price target on Victory Capital Holdings to $70, a $1 reduction. They cited a Q3 expense beat, while keeping their overall stance on the shares unchanged.
Narrative Update • Dec 16

VCTR: Future Margin Potential And Deal Execution Will Shape Balanced Return Outlook

Analysts have nudged their fair value estimate for Victory Capital Holdings higher to approximately $68 per share from about $61, citing stronger margin potential, higher long term earnings power implied by a lower future P E multiple, and supportive industry research that points to improving organic growth and favorable market driven EPS revisions across traditional asset managers. Analyst Commentary Street research on Victory Capital reflects a more nuanced backdrop than the recent fair value increase might suggest, with bullish long term themes partially offset by pockets of caution around valuation and execution risk.
Narrative Update • Dec 02

VCTR: Improving Organic Expansion Will Drive Margin Strength Ahead

Analysts have modestly lowered their price target for Victory Capital Holdings to $70 from $71. This reflects a slightly more cautious outlook following third-quarter results that showed strong expense control, but tempered revenue growth expectations.
Narrative Update • Nov 18

VCTR: Earnings Profile Will Strengthen With Improving Expense Discipline

Analysts have modestly adjusted their price targets for Victory Capital Holdings, with recent updates reflecting a slight decrease from $71 to $70. These updates highlight continued confidence in the company's improving expense management and organic growth prospects.
Narrative Update • Nov 03

VCTR: Organic Growth Will Accelerate Following Recent Acquisition And Global Expansion

Victory Capital Holdings’ analyst price target was modestly revised downward from $74.83 to $74.00 as analysts weighed slightly lower profit margin projections alongside improved revenue growth expectations following recent strategic developments. Analyst Commentary Recent analyst coverage on Victory Capital Holdings has provided a nuanced view of the company's outlook, reflecting both positive momentum and areas of lingering caution.
Narrative Update • Oct 20

Amundi Partnership And Pioneer Investments Will Expand Global Networks

Victory Capital Holdings' analyst price target has increased modestly, rising by $1 to $84 per share. Analysts cite stronger organic growth prospects, an improved profit margin outlook, and the contributions of recent acquisitions as key drivers for the upward revision.
Narrative Update • Aug 27

Amundi Partnership And Pioneer Investments Will Expand Global Networks

Analysts have raised their price target for Victory Capital Holdings to $76.43, reflecting upward revisions to FY25 earnings driven by improved cost management and optimism regarding the company’s expanded product set and growth prospects following the Amundi merger. Analyst Commentary Bullish analysts cite Victory Capital's expanded product set, including larger fixed income, large-cap equity, and global equity offerings following the Amundi merger, as a key driver for improved growth prospects.
Seeking Alpha • Apr 17

Victory Capital: Screaming Hold Wherever You Look

Summary Victory Capital is fundamentally sound but faces stagnation in balance sheets, share prices, and short-term catalysts, with macroeconomic factors likely to hurt fees and AUM. Despite strategic acquisitions and partnerships, VCTR's revenue and margins remain rangebound, awaiting a significant growth trigger. Valuation is reasonable but not compelling, with a forward P/E of 9.22 and EV/EBITDA appearing cheaper compared to historical and peer metrics. The recommendation is a "Hold" due to stable dividends and financial soundness, but fresh investors may find limited growth prospects and potential business drops. Read the full article on Seeking Alpha
Seeking Alpha • Jan 30

Victory Capital: Great Gains, Oddly Slow Growth

Summary Victory Capital Holdings has outperformed peers and the market, but recent revenue and EPS growth have stagnated, raising concerns about future performance. VCTR's diversified investment offerings and strategic acquisitions, including the recent Amundi US deal, have been key growth drivers since going public in 2018. Interest rate fluctuations have impacted VCTR's financials, and with rates likely to remain elevated, the firm may face challenges ahead. Despite impressive past performance, I rate VCTR a hold due to stagnant growth and uncertain interest rate landscape. Read the full article on Seeking Alpha
Seeking Alpha • Nov 16

Victory Capital: Accelerating Growth By Going Global

Summary Since its IPO, Victory Capital has outperformed the S&P 500 and peers, reflecting effective management, growth through acquisitions, and a growing dividend. Victory's partnership with Amundi Asset Management will expand international distribution, diversify product offerings, and create $100 million in expense synergies. The outlook is highly confident with favorable business climate and potential for further acquisitions. I rate Victory Capital (VCTR) as a Strong Buy due to history of growing earnings, accretive acquisitions, and momentum in expanding globally. Read the full article on Seeking Alpha
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New Narrative • Sep 04

Critical Partnerships And Expanding ETF Offerings Fuel Revenue Growth And Competitive Edge

Strategic partnerships and acquisitions are integral to reducing costs and expanding revenue through inorganic growth and enhanced competitive positioning.
Seeking Alpha • Jul 16

Victory Capital: The Real Kicker Is Potential Revenue Synergies

Summary Since the initial management buy-out, Victory Capital Holdings has completed 7 acquisitions which have grown their AUM from $18bn to $170bn. In April VCTR announced that they would acquire Amundi USA. The real kicker here is potential revenue synergies as VCTR and Amundi parent are concurrently entering into a 15-year distribution agreement for US/non-US investment products. Read the full article on Seeking Alpha
Seeking Alpha • Mar 27

Victory Capital: Dividend Increase, Share Repurchases, Diversified Strategies, And Cheap

Summary Victory Capital offers a diversified asset management model with 118 investment strategies and strong financial results. The company provides technology, distribution, and marketing support to its partners, which is likely to attract more asset managers. The stock repurchase agreement and decrease in share count may lead to increased stock demand. However, there are risks from changes in the regulatory framework or failed investment strategies. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NasdaqGS:VCTR - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,580N/AN/AN/A1
12/31/20271,583547N/AN/A6
12/31/20261,532475N/AN/A4
3/31/20261,475294422425N/A
12/31/20251,306270381385N/A
9/30/20251,164261329332N/A
6/30/20251,029269263266N/A
3/31/2025897295350352N/A
12/31/2024893289339340N/A
9/30/2024867267343345N/A
6/30/2024851237334337N/A
3/31/2024836220330335N/A
12/31/2023821213325330N/A
9/30/2023817210295300N/A
6/30/2023814231307312N/A
3/31/2023826254320325N/A
12/31/2022855276330335N/A
9/30/2022882293372380N/A
6/30/2022901294367377N/A
3/31/2022907284358371N/A
12/31/2021890278364376N/A
9/30/2021862264323332N/A
6/30/2021824245286294N/A
3/31/2021784221271278N/A
12/31/2020775213243251N/A
9/30/2020794195233242N/A
6/30/2020820165289299N/A
3/31/2020729135256261N/A
12/31/201961292N/A227N/A
9/30/201949069N/A202N/A
6/30/201938363N/A124N/A
3/31/201939668N/A126N/A
12/31/201841364N/A134N/A
9/30/201842361N/A137N/A
6/30/201841748N/A129N/A
3/31/201841432N/A112N/A
12/31/201741026N/A96N/A
9/30/201740212N/A76N/A
3/31/2017344-2N/A48N/A
12/31/2016298-6N/A40N/A
12/31/20152414N/A41N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: VCTR's forecast earnings growth (32.4% per year) is above the savings rate (3.5%).

Earnings vs Market: VCTR's earnings (32.4% per year) are forecast to grow faster than the US market (17% per year).

High Growth Earnings: VCTR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VCTR's revenue (3.4% per year) is forecast to grow slower than the US market (11.9% per year).

High Growth Revenue: VCTR's revenue (3.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: VCTR's Return on Equity is forecast to be high in 3 years time (24.3%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/01 19:15
End of Day Share Price 2026/05/29 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Victory Capital Holdings, Inc. is covered by 12 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jeremy CampbellBarclays
Benjamin BudishBarclays
Craig SiegenthalerBofA Global Research