3 models fit Victory Capital Holdings Inc. Class A Common Stock and they disagree: 1 of 3 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Premium(i)Silver71
Valued as an asset manager: P/E comparison, Dividend discount, and Residual income.
ACCE opinionVictory Capital Holdings Inc. Class A Common Stock (VCTR)
Fair value (3 models)
$77.36
ACCE price target
$106
Rating
Overvalued
Horizon
12 months
Fair value published on 18 Oct 2026, 17:04 CEST; previously $76.27 since 10 Oct 2026, 00:00 CEST.
ACCE price target published on 10 Oct 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 17:04 CEST.
Price used: $108 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison, Dividend discount, and Residual income.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
39.1% above
-28.1% to fair value
ACCE score
85
out of 100
Analysts
29% buy
7 covering
P/E
19.7x
forward 12.7x
1-year return
+70.3%
Dividend yield
1.86%
Victory Capital Holdings Inc. Class A Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Victory Capital runs a multi-boutique asset management platform, with its Victory Funds mutual fund and ETF lineup, its Victory Solutions institutional business, and the Pioneer and USAA fund franchises it acquired. Its edge is the operating model: it keeps investment teams autonomous while centralizing distribution, operations and back office, and that shows up in a 49.0% operating margin and a 19.1% ROE on a business that is mostly fee income. Revenue growth of 24.0% is running well ahead of what most of the group produces, and with the forward P/E at 12.7 against a trailing 19.9, the market is pricing in a meaningful earnings step-up as the recent acquisitions and buybacks flow through. The lower forward multiple is the reason to look closer, but the stock carries an index-free profile and a valuation tied to flows and market levels, so the debate is whether that growth is organic and durable or largely bought.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Valuation stretched vs model
Price trades 39.1% above the model fair value of $77.36, while the ACCE price target of $106.00 sits only 1.5% below the current price. Trailing P/E of 19.9 is well above the forward P/E of 12.7, so the earnings jump is doing much of the work.
moderate
Score slipped over 90 days
The ACCE score fell from 89 to 85 over the last 90 days, with valuation sub-score at 68 the weakest of the four components. No insider trades were disclosed in the last 10 filings.
AI research notes
AI-assisted·How I use AIWritten Oct 20, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $237M, giving the business plenty of cash to fund its own operations.
Net margin of 29.6% and return on equity of 19.1% show the company turns a large share of its sales into profit for shareholders.
Analysts' mean price target of $123.00 sits 14.2% above the current share price, suggesting the Street sees further upside.
Why it could disappoint
The consensus model fair value of $77.36 means the stock trades 39.1% above that estimate, leaving little margin for error.
Revenue grew 24.0% this year, well above the 11.0% five-year average, and that jump was driven by acquisitions rather than organic growth.
Only 2 of 7 analysts rate the stock Buy or Strong Buy, a 29% share that signals limited conviction among the professionals covering it.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where VCTR's valuation models land
Price
$107.60
Model fair value
$77.36
Model range
$54.70 to $95.13
Fair value $77.36
Price $108
The price is above the whole model range.
Model
Fair value
Upside
Dividend discount
P/E comparison
Residual income
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores