Victory Capital Holdings (VCTR) FY2023 results: revenue $821 million, down 4.0% on the year
Victory Capital Holdings, Inc. (VCTR) reported revenue of $821 million for fiscal 2023, the year ended 31 December 2023, down 4.0% on the year before. Net income was $213 million, down 22.6%, and diluted earnings per share $3.12. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$821 million
-4.0% on the year
FY2016FY2023
Operating margin
40.0%
46.7% a year earlier
FY2016FY2023
Net income
$213 million
-22.6% on the year
FY2016FY2023
Diluted EPS
$3.12
-18.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
330
335
376
-1.5%
Capital expenditure
5.2
5.2
12.7
-1.4%
Free cash flow
325
330
364
-1.5%
Free cash flow margin
39.6%
38.6%
40.8%
Cash from investing
-7.8
-6.3
-557
Cash from financing
-237
-360
227
Depreciation and amortisation
41.6
43.2
18.8
-3.6%
Share-based compensation
16.5
n/a
n/a
Buybacks
139
101
31.5
+37.7%
Dividends paid
85.4
69.2
37.2
+23.4%
Dividend per share
$1.28
$1.00
$0.53
+28.0%
Diluted shares, weighted
68m
72m
74m
-5.6%
Shares outstanding at period end
64m
67m
69m
-4.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,053
1,065
930
-1.2%
Debt
989
986
1,128
+0.4%
Operating lease liabilities
6.5
10.2
n/a
-36.6%
Other liabilities
494
480
522
+2.9%
Total liabilities and equity
2,543
2,541
2,580
+0.1%
Fixed assets
19.6
21.1
25.3
-7.4%
Goodwill
982
982
982
0.0%
Intangible assets
1,282
1,315
1,350
-2.5%
Securities held for sale or to maturity
0.5
0.5
0.9
+14.6%
Cash and equivalents
124
38.2
69.5
+223.7%
Other assets
135
185
152
-26.7%
Total assets
2,543
2,541
2,580
+0.1%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.