Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $298M | $413M | $413M | $612M | $775M | $890M | $855M | $821M | $893M | $1.31B |
| Revenue growth | — | 38.8% | 0.0% | 48.1% | 26.6% | 14.8% | -4.0% | -4.0% | 8.8% | 46.2% |
| Operating income | $24.5M | $90.2M | $115M | $165M | $315M | $374M | $399M | $328M | $428M | $478M |
| Operating margin | 8.2% | 21.8% | 27.7% | 26.9% | 40.6% | 42.0% | 46.7% | 40.0% | 47.8% | 36.6% |
| Net income | -$6.07M | $25.8M | $63.7M | $92.5M | $213M | $278M | $276M | $213M | $289M | $330M |
| Net margin | -2.0% | 6.2% | 15.4% | 15.1% | 27.4% | 31.3% | 32.2% | 26.0% | 32.3% | 25.3% |
| EPS (diluted) | -$0.12 | $0.43 | $0.90 | $1.26 | $2.88 | $3.75 | $3.81 | $3.12 | $4.38 | $4.08 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $39.5M | $96.2M | $134M | $227M | $251M | $376M | $335M | $330M | $340M | $385M |
| Capital expenditures | $1.16M | $5.11M | $2.55M | $5.24M | $8.06M | $12.7M | $5.25M | $5.17M | $1.28M | $4.16M |
| Free cash flow | $38.4M | $91.1M | $132M | $222M | $243M | $364M | $330M | $325M | $339M | $381M |
| Share buybacks | $10.5M | $4.65M | $8.18M | $15.5M | $29.9M | $31.5M | $101M | $139M | $104M | $196M |
| Dividends paid | $627K | $135M | $831K | $7.44M | $16.2M | $37.2M | $69.2M | $85.4M | $101M | $157M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $16.4M | $12.9M | $51.5M | $37.1M | $22.7M | $69.5M | $38.2M | $124M | $127M | $164M |
| Total assets | $851M | $793M | $802M | $1.75B | $1.73B | $2.58B | $2.54B | $2.54B | $2.55B | $4.25B |
| Total liabilities | $520M | $561M | $346M | $1.22B | $1.02B | $1.65B | $1.48B | $1.49B | $1.43B | $1.82B |
| Long-term debt | $419M | $483M | $269M | $925M | $769M | $1.13B | $986M | $989M | $964M | $970M |
| Shareholders' equity | $331M | $231M | $456M | $538M | $708M | $930M | $1.07B | $1.05B | $1.12B | $2.42B |
| Retained earnings | -$74.5M | -$184M | -$120M | -$34.7M | $162M | $403M | $609M | $737M | $925M | $1.10B |
| Shares (wtd avg diluted) | 50.0M | 59.6M | 70.5M | 73.5M | 73.7M | 74.2M | 72.3M | 68.2M | 65.9M | 66.4M |
Every figure is extracted from Victory Capital Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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