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Victory Capital (VCTR) investor relations material
Victory Capital Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record annual and quarterly revenue, earnings, and client assets in 2025, with year-end AUM at $317 billion and strong global expansion, including 17% of AUM from non-U.S. clients across 60 countries.
Successfully integrated Pioneer Investments and Amundi, delivering $97 million in net expense synergies by year-end and targeting $110 million in total by 2026.
Positive net flows from international distribution and ETF platforms, supported by new product launches and expanded salesforce.
Financial highlights
Q4 2025 revenue was $374.1 million, up 61% year-over-year and 3.6% sequentially; full-year revenue reached $1.3 billion, up 46% from 2024.
Adjusted EBITDA for Q4 was $197.5 million with a 52.8% margin; adjusted EPS with tax benefit was $1.78.
GAAP net income for Q4 was $112.8 million ($1.32 per diluted share); full-year GAAP net income was $330.1 million.
Returned $366 million to shareholders in 2025, including $93 million in Q4 via share repurchases and dividends.
Ended Q4 with $164 million in cash, a net leverage ratio of 1.0x, and total debt of $983 million.
Outlook and guidance
Expectation of consistent positive net flows in 2026, supported by new product launches, expanded distribution, and strong investment performance.
Revenue realization rate for 2026 projected to remain within the 46-47 basis point guidance.
On track to achieve the full $110 million in net expense synergies during 2026, ahead of schedule.
Continued focus on strategic acquisitions and meaningful share repurchases as top capital deployment priorities.
- TimeTickerHeadlineOpen
- 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and robust acquisitions. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway. - 6 FebEMBASSY
Record revenue, NOI, and distributions highlight strong growth and robust segment performance. - 6 FebCRI
Revenue fell and losses deepened, but ESA contracts and R&D projects drive future prospects. - 6 FebTUPRS
Net income reached TRY 29.5 billion, with strong dividends and a robust net cash position.
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