Victory Capital Holdings, Inc.

VCTRNASDAQFinancial Services● Active

$88.34

+$0.94(+1.07%)

Market Cap$5.5B

P/E Ratio—

52W High$89.02

52W Low$57.03

Avg Volume595K

Open$88.29

Beta1.11

Overview

Victory Capital Holdings, Inc. (VCTR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

VCTR · free cash flow · updated Jun 9, 2026

Core FCF metrics

VCTR · FCF · TTM · margin & CAGR

Free cash flow was $236.9M for FY2025 (fiscal year ending 2025-12-31), down 30.1% year-over-year The FCF margin was 18.1%. Five-year CAGR stands at -0.5%.

FY2025 Free Cash Flow$236.9M▼ -30.1% YoY

Trailing 12M (TTM)$421.6Mtrailing 4 quarters sum

FCF Margin18.1%$236.9M ÷ revenue

3-Year CAGR-10.5%FY2022 → FY2025

5-Year CAGR-0.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

VCTR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$240.4M(4M)$236.9M▼ 30.1%18.1%

FY2024$340.0M(1M)$338.7M▲ +4.2%37.9%

FY2023$330.3M(5M)$325.1M▼ 1.5%39.6%

FY2022$335.2M(5M)$330.0M▼ 9.2%38.6%

FY2021$376.2M(13M)$363.5M▲ +49.9%40.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

VCTR · P/FCF · FCF yield · FCF per share

Victory Capital Holdings, Inc. (VCTR) trades at a FCF yield of 7.63% and a price-to-free-cash-flow ratio of 13.7x. FCF per share stands at $6.44, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.63%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$6.44

TTM FCF ÷ Shares Outstanding

Price / FCF

x13.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x15.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

VCTR · cash flow statement · operating / investing / financing

For FY2025, Victory Capital Holdings, Inc. generated $240.4M in operating cash flow and spent 4M in capital expenditures, yielding $236.9M in free cash flow.

Operating Activities

+$240.4M

Cash from core business operations

2025-12-31

Investing Activities

+$77.7M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$329.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($240.4M) − |CapEx| (4M) = FCF ($236.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

VCTR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Victory Capital Holdings, Inc.YOU

VCTR

$236.9M-30.1%18.1%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Victory Capital Holdings, Inc. (VCTR) reported free cash flow of $236.9M for FY2025 (fiscal year ending 2025-12-31), down 30.1% year-over-year. The FCF margin was 18.1%.

Based on available data, Victory Capital Holdings, Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $363.5M in FY2021. The 5-year CAGR stands at -0.5%.

Victory Capital Holdings, Inc.'s FCF yield is 7.63% and price-to-FCF ratio is 13.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

VCTR free cash flow · 8 questions

Victory Capital Holdings, Inc. free cash flow was $236.9M for FY2025, down 30.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $421.6M.

VCTR free cash flowVCTR FCFVCTR FCF 2025VCTR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Victory Capital Holdings, Inc. · Victory Capital Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026