| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 66 | 14.7x | 17.8x | Top tier | |
Growth | 77 | 51.5% | 7.1% | Top tier | |
Quality | 82 | — | — | Top tier | |
Safety | 71 | — | — | Top tier | |
Capital Return | 75 | 1.79% | 2.12% | Top tier | |
Momentum | 96 | 48.8% | 2.9% | Top tier | |
Sentiment | 72 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Victory Capital Holdings operates through a multi-boutique asset management platform and generates revenue primarily from fees linked to the size of client assets, product mix, and distribution channels; its average fee rate was 47.9 basis points in fiscal Q2 2026. Client assets reached $346 billion on June 30, 2026, allocated among U.S. equities at 31%, the Solutions platform at 32%, fixed income at 24%, and global and non-U.S. equities at 11%. Growth channels include VictoryShares ETFs, Pioneer Investments products, and international distribution in partnership with Amundi.
In fiscal Q2 2026, the company recorded EDGAR-reported revenue of $435.4 million, compared with $388.0 million in fiscal Q1 2026, net income of $139.4 million, and diluted earnings per share of $1.68; this equates to a calculated net income margin of approximately 32.0%. On the adjusted basis reported in the earnings call, earnings before interest, taxes, depreciation, and amortization reached $242.7 million, with a record margin of 55.8%, while adjusted net income with the tax benefit reached $182.9 million and adjusted earnings per share reached $2.21.
Fiscal 2025 revenue was approximately $1.3 billion and net income was $330.1 million, while the latest trailing-twelve-month figures reported for 2026 increased to revenue of $1.6 billion and net income of $460.9 million. The expansion in fiscal Q2 2026 came with record average assets under management of $331 billion, record long-term net inflows of $4.2 billion, completion of the Pioneer integration, and full realization of the targeted $110 million in annual expense savings.
Automated analysis for informational purposes only — not investment advice.
The average consensus price target is $111, within a wide range of $91 to $118, with an overall Buy recommendation; the average is below the 52-week range high of $123.55 and above its low of $57.03. On August 28, 2026, Goldman Sachs assigned the stock a Neutral rating and a target of $121.13, balancing consensus optimism with caution related to the rerating after strong performance and the plan to acquire First Eagle; no reliable price-to-earnings ratio is available in the data to build an additional comparison.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Revenue reached $435.4 million, up 12% from fiscal Q1 2026 and 24% from the comparable period, driven by record average assets under management of $331 billion and a fee rate of 47.9 basis points. Adjusted earnings before interest, taxes, depreciation, and amortization reached $242.7 million at a 55.8% margin, and adjusted earnings per share were $2.21. Completion of the Pioneer integration and realization of $110 million in annual expense savings supported profitability, while EDGAR-reported net income was approximately $139.4 million.
Victory Capital announced on August 28, 2026, a plan to acquire First Eagle Investments for approximately $7 billion. The data indicate that the acquisition is expected to increase the combined company’s assets to approximately $571 billion, compared with Victory Capital’s client assets of $346 billion on June 30, 2026. This gives the transaction significant potential to expand products and clients, but makes execution, financing, and integration critical factors because the transaction value is close to the company’s stated market capitalization of $7.1 billion.
Assets on the ETF platform reached $23.2 billion at the end of fiscal Q2 2026, up 24% since the beginning of the fiscal year and 54% year over year. The platform generated net inflows of $1.2 billion during the quarter and $2.5 billion since the beginning of fiscal 2026, equivalent to an annualized organic growth rate of 27%. VFLO assets reached approximately $7.8 billion, while the platform maintained an average fee of 34 basis points instead of competing with passive funds on zero fees.
Assets from clients outside the United States reached $62.6 billion at the end of fiscal Q2 2026, distributed across 61 countries, including 35 countries where Victory Capital’s assets exceed $100 million. The international channel had positive flows during the quarter, since the beginning of fiscal 2026, and since completion of the Pioneer transaction. The company also subadvised 23 UCITS funds, with demand across Asia, Europe, and the Middle East focused on fixed income and global and multi-asset strategies.
As of June 30, 2026, 57 mutual funds and ETFs received an overall four- or five-star rating from Morningstar, representing 60% of rated assets. 71% of assets outperformed their benchmarks over one year, 68% over three years, 65% over five years, and 81% over ten years. This was reflected in gross long-term flows of $22.1 billion and record net flows of $4.2 billion in fiscal Q2 2026.
