Victory Capital Holdings, Inc. (VCTR)

Investment Advice

Latest Price

$105.57

TTM P/E

19.37

Normalized P/E

25.95

Div Yield

1.87%

Book Value

38.21

P/B Ratio

2.76

Valuation metrics

EPS: $4.08

Book value / share: $37.80

Formula: √(22.5 × EPS × BVPS)

Graham Number

$58.91

44% downside

Norm. op. income: $374M (median of 7yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$32.45

69% downside

Base FCF: $339M (median of recent 5yr)

Growth: 7%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$89.41

15% downside

EPS: $4.08

Target P/E: 26×

Formula: EPS × P/E

P/E Fair Value

$106.08

+0% upside

73.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	6.96M	$585.0M	11.31%	-5.8K	2026-06-30
Amundi	2.96M	$248.0M	4.81%	-94.9K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.20M	$185.0M	3.58%	-39.7K	2026-06-30
Crestview Partners II GP, L.P.	2.00M	$167.0M	3.24%	-2.10M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	1.97M	$165.0M	3.20%	-15.1K	2026-06-30
Capital World Investors	1.95M	$164.0M	3.17%	-466.2K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	1.89M	$159.0M	3.08%	+149.9K	2026-06-30
STATE STREET CORP	1.89M	$158.0M	3.07%	+45.9K	2026-06-30
Van Berkom & Associates Inc.	1.22M	$102.0M	1.99%	-330.3K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.20M	$100.0M	1.95%	+30.5K	2026-06-30