Victory Capital Holdings (VCTR) Operating Expenses (2016 - 2026)
Victory Capital Holdings' (VCTR) quarterly Operating Expenses came in at $228.8 million in Q1 2026, up 80.6% YoY from $126.7 million in Q1 2025, and up 3.56% on a QoQ basis from $220.9 million in Q4 2025.
Victory Capital Holdings (VCTR) Operating Expenses (2016 - 2026) Analysis & Trends
Victory Capital Holdings (VCTR) has 11 years of Operating Expenses data on file, last reported at $228.8 million in Q1 2026.
- Quarterly Operating Expenses rose 80.6% year-over-year to $228.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $929.8 million (up 101.43% YoY) and the FY2025 annual result came in at $827.7 million, up 77.63% from the prior year.
- Operating Expenses climbed to $228.8 million in Q1 2026, from $220.9 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $257.0 million in Q2 2025 to a low of $96.7 million in Q2 2022.
- A 5-year average of $145.3 million and a median of $126.7 million in 2025 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses decreased 23.66% — and 2025, when it jumped 135.73%.
- Tracing VCTR's Operating Expenses over 5 years: stood at $121.9 million in 2022, then decreased by 2.0% to $119.5 million in 2023, then increased by 0.96% to $120.6 million in 2024, then surged by 83.17% to $220.9 million in 2025, then rose by 3.56% to $228.8 million in 2026.
- The last three Operating Expenses figures came in at $228.8 million (Q1 2026), $220.9 million (Q4 2025), and $223.1 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 4.62 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.38 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.41 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.64 Bn |
| 10 | Victory Capital Holdings | 7.02 Bn | 6.95 Bn | - | 241.61 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 241.61 Mn |
| Mar 31, 2026 | 228.80 Mn |
| Dec 31, 2025 | 220.95 Mn |
| Sep 30, 2025 | 223.07 Mn |
| Jun 30, 2025 | 257.00 Mn |
| Mar 31, 2025 | 126.69 Mn |
| Dec 31, 2024 | 120.63 Mn |
| Sep 30, 2024 | 105.27 Mn |
| Jun 30, 2024 | 109.02 Mn |
| Mar 31, 2024 | 131.05 Mn |
| Dec 31, 2023 | 119.48 Mn |
| Sep 30, 2023 | 129.64 Mn |
| Jun 30, 2023 | 116.70 Mn |
| Mar 31, 2023 | 126.76 Mn |
| Dec 31, 2022 | 121.91 Mn |
| Sep 30, 2022 | 108.62 Mn |
| Jun 30, 2022 | 96.68 Mn |
| Mar 31, 2022 | 128.48 Mn |
| Dec 31, 2021 | 139.30 Mn |
| Sep 30, 2021 | 127.29 Mn |