Victory Capital Holdings (VCTR) FY2019 results: revenue $612 million, up 48.1% on the year
Victory Capital Holdings, Inc. (VCTR) reported revenue of $612 million for fiscal 2019, the year ended 31 December 2019, up 48.1% on the year before. Net income was $92 million, up 45.2%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2020.
Revenue
$612 million
+48.1% on the year
FY2015FY2019
Operating margin
26.9%
27.7% a year earlier
FY2015FY2019
Net income
$92 million
+45.2% on the year
FY2015FY2019
Diluted EPS
$1.26
+40.0% on the year
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
612
413
410
+48.1%
Operating income
165
115
90.2
+43.7%
Operating margin
26.9%
27.7%
22.0%
Interest expense
36.4
17.3
41.6
+110.7%
Pre-tax income
121
84.9
38.5
+42.1%
Income tax
28.2
21.2
12.6
+33.0%
Effective tax rate
23.4%
25.0%
32.8%
Net income
92.5
63.7
25.8
+45.2%
Net margin
15.1%
15.4%
6.3%
Diluted EPS
$1.26
$0.90
$0.43
+40.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
227
134
96.2
+69.3%
Capital expenditure
5.2
2.5
5.1
+105.8%
Free cash flow
222
132
91.1
+68.5%
Free cash flow margin
36.3%
31.9%
22.2%
Cash from investing
-850
-11.5
-8.5
Cash from financing
608
-84.2
-91.3
Depreciation and amortisation
23.9
23.3
29.9
+2.6%
Buybacks
15.5
8.2
4.7
+90.0%
Dividends paid
7.4
0.8
135
+794.8%
Dividend per share
$0.10
n/a
$2.42
Diluted shares, weighted
73m
71m
60m
+4.2%
Shares outstanding at period end
n/a
0
55m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
538
456
231
+18.1%
Debt
925
269
483
+243.9%
Other liabilities
291
77.1
78.2
+277.3%
Total liabilities and equity
1,753
802
793
+118.8%
Fixed assets
13.2
8.8
8.8
+50.8%
Goodwill
405
284
284
+42.5%
Intangible assets
1,175
388
408
+203.2%
Securities held for sale or to maturity
0.8
0.6
n/a
+28.3%
Trading assets
18.3
12.7
10.7
+43.9%
Cash and equivalents
37.1
51.5
12.9
-27.9%
Other assets
104
56.1
68.1
+84.7%
Total assets
1,753
802
793
+118.8%
10-K for the year ended 31 December 2019, filed 13 March 2020: the filing.