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Victory Capital Holdings vs Artisan Partners Asset Management: VCTR and APAM compared
Victory Capital Holdings is the larger company: $397M of revenue in its latest quarter (Q3 2026) against $313M for Artisan Partners Asset Management (Q3 2026). Victory Capital Holdings is growing faster (+10% against +4% a year earlier). Artisan Partners Asset Management is more profitable, with an operating margin of 35.1% against 34.7%.
Where the money goes: VCTR and APAM
Victory Capital Holdings (VCTR) · Q3 2026
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.
Artisan Partners Asset Management (APAM) · Q3 2026
Artisan Partners Asset Management, Q3 2026: revenue $313M (+4% year over year), operating margin 35.1%, net earnings $75.2M, operating cash flow $110M. The chart follows the revenue to costs, profit and cash.
| Victory Capital Holdings (VCTR) | Artisan Partners Asset Management (APAM) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $397M | $313M |
| Revenue growth, Y/Y | +10% | +4% |
| Operating margin | 34.7% | 35.1% |
| Net earnings | $91.3M | $75.2M |
| Net margin | 23.0% | 24.1% |
| Operating cash flow | $223M | $110M |
| Free cash flow | $222M | $108M |
| Market value | $7.4B | $2.1B |
| P/E | 16.3× | 7.5× |
| Analysts’ mean target | $123.67 | $35.00 |
Where the revenue comes from
Victory Capital Holdings
- Investment Management Fees: $322M (81%)
- Fund Administration and Distribution Fees: $74.5M (19%)
Artisan Partners Asset Management
- Management fees: $312M (100%)
- Performance fees: $35K (0%)
Questions
Which is bigger, Victory Capital Holdings or Artisan Partners Asset Management?
Victory Capital Holdings is the larger company: $397M of revenue in its latest quarter (Q3 2026) against $313M for Artisan Partners Asset Management (Q3 2026).
Is Victory Capital Holdings or Artisan Partners Asset Management growing faster?
Victory Capital Holdings is growing faster (+10% against +4% a year earlier).
Which is more profitable, Victory Capital Holdings or Artisan Partners Asset Management?
Artisan Partners Asset Management is more profitable, with an operating margin of 35.1% against 34.7%.
More: Victory Capital Holdings earnings · how Victory Capital Holdings makes money · Artisan Partners Asset Management earnings · how Artisan Partners Asset Management makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.