Victory Capital Holdings, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
VCTR$126.80+6.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2025 · 2024 · 2023 | ||||||
| Revenue | ||||||
| Investment management fees | $ | 1,045,469 | $ | 704,583 | $ | 640,876 |
| Fund administration and distribution fees | 260,662 | 188,894 | 180,152 | |||
| Total revenue | 1,306,131 | 893,477 | 821,028 | |||
| Expenses | ||||||
| Personnel compensation and benefits | 362,991 | 217,214 | 220,992 | |||
| Distribution and other asset-based expenses | 231,991 | 146,489 | 149,596 | |||
| General and administrative | 83,319 | 56,694 | 56,287 | |||
| Depreciation and amortization | 72,851 | 30,176 | 41,647 | |||
| Change in value of consideration payable for acquisition of business | 11,403 | 2,694 | 23,236 | |||
| Acquisition-related costs | 35,479 | 11,285 | 217 | |||
| Restructuring and integration costs | 29,674 | 1,411 | 595 | |||
| Total operating expenses | 827,708 | 465,963 | 492,570 | |||
| Income from operations | 478,423 | 427,514 | 328,458 | |||
| Other income (expense) | ||||||
| Interest income and other income (expense) | 15,298 | 10,441 | 8,732 | |||
| Interest expense and other financing costs | (54,787) | (63,836) | (61,282) | |||
| Loss on debt extinguishment | (614) | (363) | — | |||
| Total other income (expense), net | (40,103) | (53,758) | (52,550) | |||
| Income before income taxes | 438,320 | 373,756 | 275,908 | |||
| Income tax expense | (108,258) | (84,892) | (62,751) | |||
| Net income | $ | 330,062 | $ | 288,864 | $ | 213,157 |
| Preferred stock dividends | (29,138) | — | — | |||
| Net income attributable to preferred stockholders | (30,773) | — | — | |||
| Net income attributable to common shareholders | $ | 270,151 | $ | 288,864 | $ | 213,157 |
| Earnings per share of common stock | ||||||
| Basic | $ | 4.13 | $ | 4.47 | $ | 3.22 |
| Diluted | $ | 4.08 | $ | 4.38 | $ | 3.12 |
| Weighted average number of shares outstanding | ||||||
| Basic | 65,439 | 64,607 | 66,202 | |||
| Diluted | 66,376 | 65,928 | 68,214 | |||
| Dividends declared per share of common stock | $ | 1.94 | $ | 1.555 | $ | 1.28 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.