Victory Capital Holdings (VCTR) FY2020 results: revenue $775 million, up 26.6% on the year
Victory Capital Holdings, Inc. (VCTR) reported revenue of $775 million for fiscal 2020, the year ended 31 December 2020, up 26.6% on the year before. Net income was $213 million, up 129.8%, and diluted earnings per share $2.88. The figures are the company's own, from the 10-K it filed with the SEC on 15 March 2021.
Revenue
$775 million
+26.6% on the year
FY2015FY2020
Operating margin
40.6%
26.9% a year earlier
FY2015FY2020
Net income
$213 million
+129.8% on the year
FY2015FY2020
Diluted EPS
$2.88
+128.6% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
775
612
413
+26.6%
Operating income
315
165
115
+91.2%
Operating margin
40.6%
26.9%
27.7%
Interest expense
30.9
36.4
17.3
-15.1%
Pre-tax income
279
121
84.9
+130.8%
Income tax
66.0
28.2
21.2
+134.1%
Effective tax rate
23.7%
23.4%
25.0%
Net income
213
92.5
63.7
+129.8%
Net margin
27.4%
15.1%
15.4%
Diluted EPS
$2.88
$1.26
$0.90
+128.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
251
227
134
+10.2%
Capital expenditure
8.1
5.2
2.5
+53.8%
Free cash flow
243
222
132
+9.2%
Free cash flow margin
31.3%
36.3%
31.9%
Cash from investing
-12.3
-850
-11.5
Cash from financing
-253
608
-84.2
Depreciation and amortisation
16.4
23.9
23.3
-31.4%
Buybacks
29.9
15.5
8.2
+92.3%
Dividends paid
16.2
7.4
0.8
+118.3%
Dividend per share
$0.23
$0.10
n/a
+130.0%
Diluted shares, weighted
74m
73m
71m
+0.3%
Shares outstanding at period end
16m
n/a
0
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
708
538
456
+31.5%
Debt
769
925
269
-16.8%
Other liabilities
254
291
77.1
-12.6%
Total liabilities and equity
1,731
1,753
802
-1.3%
Fixed assets
18.7
13.2
8.8
+41.6%
Goodwill
405
405
284
0.0%
Intangible assets
1,163
1,175
388
-1.1%
Securities held for sale or to maturity
0.9
0.8
0.6
+19.6%
Trading assets
n/a
18.3
12.7
Cash and equivalents
22.7
37.1
51.5
-38.7%
Other assets
121
104
56.1
+16.7%
Total assets
1,731
1,753
802
-1.3%
10-K for the year ended 31 December 2020, filed 15 March 2021: the filing.