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Victory Capital Holdings

Nasdaq:VCTR
Snowflake Description

Very undervalued with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VCTR
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Victory Capital Holdings, Inc., together with its subsidiaries, operates as an independent investment management company in the United States. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Victory Capital Holdings has significant price volatility in the past 3 months.
VCTR Share Price and Events
7 Day Returns
-7.2%
NasdaqGS:VCTR
-1.2%
US Capital Markets
-2%
US Market
1 Year Returns
-7.6%
NasdaqGS:VCTR
-14.1%
US Capital Markets
-15.1%
US Market
VCTR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Victory Capital Holdings (VCTR) -7.2% -21.3% -29% -7.6% - -
US Capital Markets -1.2% -19.8% -24.6% -14.1% 1% 18.8%
US Market -2% -19.7% -23.2% -15.1% 3.7% 14.4%
1 Year Return vs Industry and Market
  • VCTR outperformed the Capital Markets industry which returned -14.1% over the past year.
  • VCTR outperformed the Market in United States of America which returned -15.1% over the past year.
Price Volatility
VCTR
Industry
5yr Volatility vs Market

Value

 Is Victory Capital Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Victory Capital Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Victory Capital Holdings.

NasdaqGS:VCTR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $15.65 * 12.7%
$1.98
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $15.65
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:VCTR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.745 (1 + (1- 21%) (90.72%))
1.187
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.187 * 5.44%)
8.2%

Discounted Cash Flow Calculation for NasdaqGS:VCTR using Excess Returns Model Model

The calculations below outline how an intrinsic value for Victory Capital Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:VCTR Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.7% – 8.2%) * $15.65)
$0.70
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.70 / (8.2% - 1.74%)
$10.82
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.65 + $10.82
$26.47
NasdaqGS:VCTR Discount to Share Price
Calculation Result
Value per share (USD) From above. $26.47
Current discount Discount to share price of $15.01
= -1 x ($15.01 - $26.47) / $26.47
43.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Victory Capital Holdings is available for.
Intrinsic value
43%
Share price is $15.01 vs Future cash flow value of $26.47
Current Discount Checks
For Victory Capital Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Victory Capital Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Victory Capital Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Victory Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Victory Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:VCTR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.37
NasdaqGS:VCTR Share Price ** NasdaqGS (2020-04-03) in USD $15.01
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.79x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.4x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Victory Capital Holdings.

NasdaqGS:VCTR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VCTR Share Price ÷ EPS (both in USD)

= 15.01 ÷ 1.37

10.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Victory Capital Holdings is good value based on earnings compared to the US Capital Markets industry average.
  • Victory Capital Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Victory Capital Holdings's expected growth come at a high price?
Raw Data
NasdaqGS:VCTR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
33.5%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 2.07x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.89x

*Line of best fit is calculated by linear regression .

NasdaqGS:VCTR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.97x ÷ 33.5%

0.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Victory Capital Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Victory Capital Holdings's assets?
Raw Data
NasdaqGS:VCTR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.95
NasdaqGS:VCTR Share Price * NasdaqGS (2020-04-03) in USD $15.01
United States of America Capital Markets Industry PB Ratio Median Figure of 182 Publicly-Listed Capital Markets Companies 7.67x
United States of America Market PB Ratio Median Figure of 5,144 Publicly-Listed Companies 1.2x
NasdaqGS:VCTR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VCTR Share Price ÷ Book Value per Share (both in USD)

= 15.01 ÷ 7.95

1.89x

* Primary Listing of Victory Capital Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Victory Capital Holdings is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Victory Capital Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Victory Capital Holdings has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Victory Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
33.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Victory Capital Holdings expected to grow at an attractive rate?
  • Victory Capital Holdings's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Victory Capital Holdings's earnings growth is expected to exceed the United States of America market average.
  • Victory Capital Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:VCTR Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:VCTR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 33.5%
NasdaqGS:VCTR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 13.7%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:VCTR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:VCTR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 845 1
2021-12-31 863 215 10
2020-12-31 852 212 10
2020-04-04
NasdaqGS:VCTR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 612 227 92
2019-09-30 490 202 69
2019-06-30 383 124 63
2019-03-31 396 126 68
2018-12-31 413 134 64
2018-09-30 423 137 61
2018-06-30 417 129 48
2018-03-31 414 112 32
2017-12-31 410 96 26
2017-09-30 402 76 12
2017-03-31 344 48 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Victory Capital Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Victory Capital Holdings's revenue is expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:VCTR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Victory Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VCTR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 2.86 3.40 2.31 4.00
2020-12-31 2.85 3.22 2.23 4.00
2020-04-04
NasdaqGS:VCTR Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.37
2019-09-30 1.02
2019-06-30 0.94
2019-03-31 1.00
2018-12-31 0.96
2018-09-30 0.97
2018-06-30 0.81
2018-03-31 0.56
2017-12-31 0.47
2017-09-30 0.22
2017-03-31 -0.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Victory Capital Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Victory Capital Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Victory Capital Holdings has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Victory Capital Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Victory Capital Holdings's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Victory Capital Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Victory Capital Holdings's 1-year earnings growth is less than its 5-year average (45.2% vs 60.6%)
  • Victory Capital Holdings's earnings growth has exceeded the US Capital Markets industry average in the past year (45.2% vs 9.7%).
Earnings and Revenue History
Victory Capital Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Victory Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VCTR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 612.37 92.49 42.32
2019-09-30 489.79 68.82 32.90
2019-06-30 382.89 63.42 26.49
2019-03-31 395.93 67.71 26.48
2018-12-31 413.41 63.70 29.70
2018-09-30 423.09 61.00 30.21
2018-06-30 417.40 48.26 30.58
2018-03-31 413.93 31.94 31.26
2017-12-31 409.63 25.83 33.26
2017-09-30 402.06 11.93 31.88
2017-03-31 343.54 -1.57 29.05
2016-12-31 297.88 -6.07 25.49
2015-12-31 240.76 3.80 21.95

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Victory Capital Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Victory Capital Holdings used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Victory Capital Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Victory Capital Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Victory Capital Holdings has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Victory Capital Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Victory Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Victory Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Victory Capital Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Victory Capital Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Victory Capital Holdings Company Filings, last reported 3 months ago.

NasdaqGS:VCTR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 537.87 924.54 37.12
2019-09-30 506.69 1,005.93 78.96
2019-06-30 486.95 269.79 23.41
2019-03-31 470.17 269.32 66.26
2018-12-31 455.55 268.95 51.49
2018-09-30 441.89 268.62 25.14
2018-06-30 420.74 288.29 15.16
2018-03-31 398.83 310.96 12.30
2017-12-31 231.18 483.90 12.92
2017-09-30 231.88 500.83 11.54
2017-03-31 218.87 535.12 12.09
2016-12-31 331.00 423.27 22.10
2015-12-31 249.43 311.90 18.26
  • Victory Capital Holdings's level of debt (171.9%) compared to net worth is high (greater than 40%).
  • Unable to establish if Victory Capital Holdings's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (24.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess Victory Capital Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Victory Capital Holdings has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Victory Capital Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.33%
Current annual income from Victory Capital Holdings dividends. Estimated to be 1.37% next year.
If you bought $2,000 of Victory Capital Holdings shares you are expected to receive $27 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Victory Capital Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (2.05%).
  • Victory Capital Holdings's dividend is below the markets top 25% of dividend payers in United States of America (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:VCTR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1938 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:VCTR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.24 1.00
2021-12-31 0.21 7.00
2020-12-31 0.20 8.00
2020-04-04
NasdaqGS:VCTR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-13 0.200 1.340
2020-02-12 0.200 1.031
2019-11-13 0.200 0.961
2019-11-04 0.200 1.145
2019-08-13 0.200 1.264
2019-08-12 0.200 1.169

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Victory Capital Holdings has stable dividend payments.
  • Victory Capital Holdings only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Victory Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (13.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (16.7x coverage).
X
Income/ dividend checks
We assess Victory Capital Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Victory Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Victory Capital Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Victory Capital Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Brown
COMPENSATION $11,995,413
AGE 45
TENURE AS CEO 6.7 years
CEO Bio

Mr. David Craig Brown has been Chief Executive Officer of Victory Capital Holdings, Inc. since August 2013 and Chairman of Board since April 2014. Mr. Brown serves as Chairman and Chief Executive Officer of Victory Capital Management Inc. (“Victory”). He is responsible for the development, execution and oversight of firm strategy. Mr. Brown joined victory in 2004 and has held multiple senior level positions including Chief Operating Officer prior to his current role. Before joining Victory, Mr. Brown spent five years at Gartmore Global Investments, Inc. in a number of senior management positions including Chief Financial Officer and Chief Operating Officer of Gartmore Emerging Managers, LLC. Prior to joining Gartmore, he worked for Ernst & Young LLP as a Manager in the Assurance & Advisory Business Services unit focusing on investment management businesses. Mr. Brown also currently serves as a Director of Cerebellum Capital, LLC. He previously was a Member of the Bluecoats, Inc. of Cuyahoga County, OH and on the Board of Directors for JumpStart of Ohio. Mr. Brown holds a Bachelor of Arts degree in political science with an emphasis on accounting from Ursinus College and a Master of Business Administration from Case Western Reserve University. He is a Certified Public Accountant.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Victory Capital Holdings management team in years:

2.5
Average Tenure
45
Average Age
  • The tenure for the Victory Capital Holdings management team is about average.
Management Team

David Brown

TITLE
CEO & Chairman
COMPENSATION
$12M
AGE
45
TENURE
6.7 yrs

Mike Policarpo

TITLE
President
COMPENSATION
$6M
AGE
44
TENURE
1.1 yrs

Kelly Cliff

TITLE
President of Investment Franchises
COMPENSATION
$6M
AGE
49
TENURE
4.4 yrs

Matthew Dennis

TITLE
Director of Investor Relations
TENURE
1.3 yrs

Nina Gupta

TITLE
Chief Legal Officer & Secretary
AGE
43
TENURE
3.8 yrs

David Friedman

TITLE
Head of Strategy & Corporate Projects
AGE
55
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Victory Capital Holdings board of directors in years:

6.7
Average Tenure
66
Average Age
  • The tenure for the Victory Capital Holdings board of directors is about average.
Board of Directors

Rich DeMartini

TITLE
Independent Director
AGE
67
TENURE
6.7 yrs

David Brown

TITLE
CEO & Chairman
COMPENSATION
$12M
AGE
45
TENURE
6 yrs

Karin Hirtler-Garvey

TITLE
Independent Director
COMPENSATION
$125K
AGE
62
TENURE
5.5 yrs

Alan Rappaport

TITLE
Independent Director
COMPENSATION
$125K
AGE
66
TENURE
6.7 yrs

Alex Binderow

TITLE
Independent Director
TENURE
6.7 yrs

Milton Berlinski

TITLE
Independent Director
AGE
63
TENURE
6.7 yrs

Larry Davanzo

TITLE
Independent Director
COMPENSATION
$125K
AGE
66
TENURE
5.5 yrs

Jim Hawkes

TITLE
Independent Director
COMPENSATION
$125K
AGE
77
TENURE
6.7 yrs

Bob Hurst

TITLE
Independent Director
AGE
73
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Aug 19 Buy James Hawkes Individual 15. Aug 19 16. Aug 19 5,692 $15.80 $89,284
X
Management checks
We assess Victory Capital Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Victory Capital Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Insider Buying: The Victory Capital Holdings, Inc. (NASDAQ:VCTR) Independent Director Just Bought US$89k Worth Of Shares

Check out our latest analysis for Victory Capital Holdings The Last 12 Months Of Insider Transactions At Victory Capital Holdings Notably, that recent purchase by James Hawkes is the biggest insider purchase of Victory Capital Holdings shares that we've seen in the last year. … NasdaqGS:VCTR Recent Insider Trading, August 21st 2019 Insider Ownership of Victory Capital Holdings For a common shareholder, it is worth checking how many shares are held by company insiders. … Insiders likely see value in Victory Capital Holdings shares, given these transactions (along with notable insider ownership of the company).

Simply Wall St -

Do Insiders Own Shares In Victory Capital Holdings, Inc. (NASDAQ:VCTR)?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' With a market capitalization of US$1.1b, Victory Capital Holdings is a decent size, so it is probably on the radar of institutional investors. … Check out our latest analysis for Victory Capital Holdings NasdaqGS:VCTR Ownership Summary, August 17th 2019 What Does The Institutional Ownership Tell Us About Victory Capital Holdings? … Insider Ownership Of Victory Capital Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

The Victory Capital Holdings (NASDAQ:VCTR) Share Price Has Gained 85% And Shareholders Are Hoping For More

We'll need to follow Victory Capital Holdings for a while to get a better sense of its share price trend, since it hasn't been listed for particularly long. … During the last year Victory Capital Holdings grew its earnings per share (EPS) by 77%. … We note that the earnings per share growth isn't far from the share price growth (of 85%).

Simply Wall St -

A Holistic Look At Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Not only did VCTR outperformed its past performance, its growth also exceeded the Capital Markets industry expansion, which generated a 65% earnings growth. … Investors have the opportunity to buy into the stock to reap capital gains, if VCTR's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. … Compared to the rest of the capital markets industry, VCTR is also trading below its peers, relative to earnings generated.

Simply Wall St -

Read This Before You Buy Victory Capital Holdings, Inc. (NASDAQ:VCTR) Because Of Its P/E Ratio

We'll apply a basic P/E ratio analysis to Victory Capital Holdings, Inc.'s (NASDAQ:VCTR), to help you decide if the stock is worth further research. … See our latest analysis for Victory Capital Holdings How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Victory Capital Holdings: P/E of 16.26 = $16.24 ÷ $1.0 (Based on the year to March 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Introducing Victory Capital Holdings (NASDAQ:VCTR), A Stock That Climbed 42% In The Last Year

To wit, the Victory Capital Holdings, Inc. … During the last year Victory Capital Holdings grew its earnings per share (EPS) by 104%. … This free interactive report on Victory Capital Holdings's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

Simply Wall St -

How Many Insiders Bought Victory Capital Holdings, Inc. (NASDAQ:VCTR) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Victory Capital Holdings, Inc. … The Last 12 Months Of Insider Transactions At Victory Capital Holdings. … In the last twelve months there was more buying than selling by Victory Capital Holdings insiders.

Simply Wall St -

Victory Capital Holdings, Inc. (NASDAQ:VCTR): A Fundamentally Attractive Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Victory Capital Holdings, Inc. … Below, I've touched on some key aspects you should know on a high level.

Simply Wall St -

Does Victory Capital Holdings, Inc.'s (NASDAQ:VCTR) P/E Ratio Signal A Buying Opportunity?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Victory Capital Holdings, Inc.'s (NASDAQ:VCTR) P/E ratio and reflect on what it tells us about the company's share price. … Victory Capital Holdings has a P/E ratio of 11.26, based on the last twelve months.

Simply Wall St -

Have Insiders Been Buying Victory Capital Holdings, Inc. (NASDAQ:VCTR) Shares This Year?

So we'll take a look at whether insiders have been buying or selling shares in Victory Capital Holdings, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In the last twelve months there was more buying than selling by Victory Capital Holdings insiders

Simply Wall St -

Company Info

Description

Victory Capital Holdings, Inc., together with its subsidiaries, operates as an independent investment management company in the United States. It offers investment advisory, fund administration, and distribution services through broker-dealers, retirement platforms, and registered investment advisor networks. As of December 31, 2018, its franchises and solutions platform managed a set of 71 investment strategies for a range of institutional and retail clients. The company was founded in 2013 and is headquartered in Brooklyn, Ohio.

Details
Name: Victory Capital Holdings, Inc.
VCTR
Exchange: NasdaqGS
Founded: 2013
$1,019,073,914
67,892,999
Website: http://www.vcm.com
Address: Victory Capital Holdings, Inc.
4900 Tiedeman Road,
4th Floor,
Brooklyn,
Ohio, 44144,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VCTR Class A Common Stock Nasdaq Global Select US USD 08. Feb 2018
Number of employees
Current staff
Staff numbers
358
Victory Capital Holdings employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 06:41
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.