Filing Flows › Victory Capital Holdings (VCTR) › Q3 2026
Victory Capital Holdings (VCTR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Victory Capital Holdings (VCTR) reported revenue of $397M for the third quarter 2026 (Q3 2026), +10% from a year earlier and -9% from the quarter before. Operating margin was 34.7%, net earnings $91.3M (23.0% of revenue).
Victory Capital Holdings, Q3 2026: revenue $397M (+10% year over year), operating margin 34.7%, net earnings $91.3M, operating cash flow $223M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $397M | -9% | +10% |
| Operating profit | $138M | -29% | -0.3% |
| Net earnings | $91.3M | -35% | -5% |
| Operating cash flow | $223M | +65% | +35% |
| Free cash flow | $222M | +66% | +35% |
What changed
Revenue was $396.6M in Q3 2026, up 10% year over year and down 9% from the previous quarter. Investment Management Fees was the largest line at 81% of revenue. Investment Management Fees added $33.6M year over year (up 12%), 95% of the total change.
Operating profit was $137.7M, a 34.7% margin (down 3.5 points year over year). Operating profit fell $403K even though revenue rose $35.4M versus Q3 2025, so costs grew faster than sales. Total costs grew 16% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $91.3M, down 5% year over year. The effective tax rate was 26.3%.
Operating cash flow was $223.4M (up 35% year over year), 245% of net earnings. Non-cash charges added back $20.5M of depreciation and amortization and $36.5M of share-based compensation. Working capital and other items added $75.1M. Capital expenditures of $937K left free cash flow of $222.4M.
Questions
What was Victory Capital Holdings' revenue in the third quarter 2026?
Victory Capital Holdings (VCTR) reported revenue of $397M for the third quarter 2026 (Q3 2026), +10% from a year earlier and -9% from the quarter before.
Was Victory Capital Holdings profitable in the third quarter 2026?
Operating profit was $138M (34.7% of revenue) and net earnings $91.3M.