NASDAQ$VCTR

Victory Capital Holdings Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Victory Capital achieved record financial results due to strong business performance and strategic initiatives.

Victory Capital reported record fourth quarter and full year 2020 financial results, driven by strong business performance and strategic initiatives. The company's adjusted EBITDA margin reached a record 52% during the fourth quarter, resulting in record adjusted quarterly earnings of $1.07 per share. The board authorized a 29% increase in the regular quarterly cash dividend.

  • Total Assets Under Management (AUM) reached $147.2 billion.
  • GAAP operating margin was 39%.
  • Adjusted EBITDA margin reached a record 52%.
  • GAAP net income was $0.75 per diluted share.

Headline financials

Total Revenue

$200M

Previous: $219M-8.3%
EPS (adj)

$1.07

Previous: $0.99+8.1%
Ending AUM

$147B

Previous: $152B-3.0%
GAAP Operating Margin

38.8%

Previous: 29.4%+32.0%
Adjusted EBITDA Margin

51.8%

Previous: 46.8%+10.7%
Long-term Gross Flows

$5.7B

No prior period
Capital Expenditures

$1.01M

Previous: $2.32M-56.3%
Free Cash Flow

$66.9M

Previous: $57.4M+16.6%
Net Income

$54.9M

Previous: $37.6M+46.0%
Operating Income

$77.7M

Previous: $64.2M+21.0%
Gross Profit

$107M

Previous: $107M+0.3%
Cash & Equivalents

$22.7M

Previous: $37.1M-38.7%
Total Assets

$1.73B

Previous: $1.75B-1.3%

Revenue & EPS history

Victory Capital · Revenue · Quarterly

$200M

Q4 2020-8.3%vs Q4 2019
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

Victory Capital is on track to close the THB Asset Management acquisition later in the first quarter, expecting to integrate their ESG-focused investment strategies into their integrated operating and distribution platform.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+1.6%

Avg return

Earnings day

+2.1%

Avg return

5 days after

+1.3%

Avg return

30 days after

50%

20 / 40 earnings

Positive

+22.4%

Q3 2018

Best reaction

-6.6%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.9%+4.0%+4.4%
Q4 2025-2.2%+8.3%-1.5%
Q3 2025-0.8%+3.0%+3.2%
Q1 2025-1.6%+7.6%+8.1%
Q4 2024+7.5%+3.4%-10.9%
Q3 2024+2.1%-0.0%+4.3%
Q2 2024+8.2%+9.1%+13.0%
Q1 2024-6.6%-1.3%-4.7%
Q4 2023+4.8%-0.6%+13.1%
Q3 2023+8.9%+5.2%+8.0%
Q2 2023+1.7%+0.1%+4.9%
Q1 2023+0.8%+2.5%+9.2%
Q4 2022-2.8%+4.7%-3.2%
Q3 2022+0.7%+3.0%+4.9%
Q2 2022-0.2%-1.1%-4.4%
Q1 2022-6.4%-10.1%+1.2%
Q4 2021-3.0%-3.5%-11.8%
Q3 2021+11.7%+10.4%-7.9%
Q2 2021+6.5%+7.0%+6.7%
Q1 2021+6.3%+3.6%+7.1%
Q4 2020+2.4%+0.8%+4.7%
Q3 2020+7.2%+7.3%+22.5%
Q2 2020+0.3%+3.7%-1.5%
Q1 2020+0.7%-6.1%+21.5%
Q4 2019-1.8%-2.4%-34.8%
Q3 2019+9.8%+11.3%+26.9%
Q2 2019-1.7%-8.2%-2.2%
Q1 2019+5.8%+16.9%+12.4%
Q4 2018-2.4%+1.6%+17.6%
Q3 2017-0.6%+1.3%-10.2%
Q3 2018+22.4%+39.9%+38.7%
Q2 2018-1.8%-0.5%-5.0%
Q1 2017-1.7%-2.6%+2.4%
Q1 2018-0.6%-4.5%+2.2%
Q2 2017-2.8%-6.6%-14.8%
Q2 2016-2.8%-6.6%-14.8%
Q4 2016-2.8%-6.6%-14.8%
Q3 2016-2.8%-6.6%-14.8%
Q4 2015-2.8%-6.6%-14.8%
Q4 2017+4.2%+3.2%-11.0%
Q1 2016

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