Victory Capital Holdings, Inc. operates as a global asset management enterprise, along with its various subsidiaries. The firm provides an extensive suite ...
Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer
$1.97 per share
$1.97 per share
Est. EPS $1.95 · Revenue $405.65M · 6 analysts
Est. EPS $2.02 · Revenue $415.37M · 5 analysts
EPS $1.11 · Revenue $361.19M
EPS $0.68 · Revenue $351.21M
EPS $0.96 · Revenue $219.60M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.3B | +46.2% | +12.1% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $330.1M | +14.3% | +24.3% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +71.1% | +19.9% | -1.2% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +42.5% | -11.2% | -3.1% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +25.3% | -21.8% | +10.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $236.9M | -30.1% | +11.7% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +18.1% | -52.2% | -0.3% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 40.0% | -53.4% | -0.6% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.97x | -19.0% | -6.8% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $4.2B | +66.7% | +0.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 4.08 vs 6.24 | -34.6% | 1.68 vs 1.79 | -6.4% |
| Revenue Surprise | $1.3B vs $1.3B | +0.1% | $435.4M vs $386.1M | +12.8% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Gupta Nina | officer: Chief Legal Officer | Common Stock | A | 19,124 | — |
| Aug 13, 2026 | Gupta Nina | officer: Chief Legal Officer | Common Stock | D | 9,732 | $118.17 |
| Aug 13, 2026 | Gupta Nina | officer: Chief Legal Officer | Performance-based Restricted Stock | D | 19,124 | — |
| Aug 13, 2026 | Dhillon Mannik S. | officer: President Investment Franchise | Common Stock | A | 16,390 | — |
| Aug 13, 2026 | Dhillon Mannik S. | officer: President Investment Franchise | Common Stock | D | 6,452 | $118.17 |
Operator: Good morning, and welcome to the Victory Capital Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I will now turn the call over to Ms. Carly Thomas, Director of Investor Relations and Responsible Business. Please go ahead, Ms. Thomas. Carly Thomas: Thank you, operator, and good morning, everyone. Before I turn the call over to Chairman and CEO, David Brown, I would like to remind you that during today's conference call, we may make several forward-looking statements. Victory Capital's actual results may differ materially from these statements. Please refer to our SEC filings for a list of some of the risk factors that may cause actual results to differ materially from those expressed on today's call. Victory Capital assumes no duty and does not undertake any obligation to update any forward-looking statements. Our press release, which was issued after the market closed yesterday disclosed both GAAP and non-GAAP financial results. We believe the non-GAAP measures enhance the understanding of our business and our performance. Reconciliations between these non-GAAP measures and the most comparable GAAP measures are available in the tables that can be found in our earnings press release and in the slides accompanying this call, both of which are available on the Investor Relations section of our website at ir.vcm.com. It is now my pleasure to turn the call over to David Brown, Chairman and CEO. David? David Brown: Thanks, Carly. Good morning, everyone, and welcome to Victory Capital's Second Quarter 2026 Earnings Call. I'm also joined today by Michael Policarpo, our President, Chief Financial and Administrative Officer. I will start with an overview of our second quarter results, which I am pleased to say were exceptional, setting new records across multiple dimensions of our business. After that, I will turn the call over to Mike to review the financial results in greater detail. Following our prepared remarks, we will be available to answer your questions. On Slide 5, you will see that Q2 2026 was the strongest quarter in our history. Total client assets reached $346 billion, up 11% from Q1 and 15% higher than at the end of the same period last year. Long-term gross flows of $22 billion were up 17% quarter-over-quarter and 43% versus the same quarter last year. We generated record net long-term inflows of $4.2 billion, reflecting the strategic investments we have made, the momentum we have built across all our distribution channels and the strength of our investment performance by our investment franchises and our solutions platform. From a financial perspective, adjusted EBITDA reached $243 million, and our adjusted EBITDA margin expanded to 55.8%. Adjusted earnings per share was $2.21, up 21% from last quarter and 41% higher than Q2 of last year, all were records for our company. Moreover, the Pioneer integration is now complete and the full $110 million in net run rate expense synergies have been fully realized. …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
David Craig Brown | Chairman of the Board of Directors & Chief Executive Officer | USD 6,378,500 | Male | 1973 | Active |
Michael Dennis Policarpo | President, Chief Financial Officer & Chief Administrative Officer | USD 2,653,000 | Male | 1975 | Active |
Nina Gupta | Chief Legal Officer, Head of Human Resource Administration & Corporate Secretary | USD 1,683,500 | Female | 1975 | Active |
Thomas Michael Sipp | Executive Vice President | USD 1,349,875 | Male | 1970 | Active |
Mannik S. Dhillon | President of Investment Franchises & Solutions and Head of ETFs | USD 1,289,750 | Male | 1980 | Active |
Carly Thomas | Director of Investor Relations & Responsible Business | — | — | — | Active |
Lisa Marie Seballos | Director of Finance | — | Female | — | Active |
Jessica Davila | Director of Global Communications | — | Female | — | Active |
Molly Weiss | CTO & Head of Digital Innovation | — | Female | — | Active |
Victory Capital Holdings, Inc. (VCTR) announced an acquisition of First Eagle Investments Wednesday, a deal that will create a combined asset manager with $571 billion in client assets, the companies said. Key Takeaways: Victory Capital will pay about $7 billion for First Eagle, creating a $571 billion asset manager.
Victory Capital (VCTR) could produce exceptional returns because of its solid growth attributes.
Victory Capital Holdings, Inc. (VCTR) M&A Call Prepared Remarks Transcript
Victory Capital NASDAQ: VCTR said it has entered into a definitive agreement to acquire First Eagle Investments in a transaction valued at approximately $7 billion, a deal the company expects will expand its assets, investment capabilities and distribution reach.
Halper Sadeh LLC, an investor rights law firm, is investigating the merger of Victory Capital Holdings, Inc. (NASDAQ: VCTR) and First Eagle Investment (Trades,
