Victory Capital Holdings (VCTR) Operating Margin (2016 - 2026)
Victory Capital Holdings' (VCTR) quarterly Operating Margin came in at 41.03% in Q1 2026, down 128.0% YoY from 146.53% in Q1 2025, and little changed on a QoQ basis from 40.94% in Q4 2025.
Victory Capital Holdings (VCTR) Operating Margin (2016 - 2026) Analysis & Trends
Victory Capital Holdings (VCTR) has 11 years of Operating Margin data on file, last reported at 41.03% in Q1 2026.
- Quarterly Operating Margin fell 128.0% year-over-year to 41.03% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 36.94% (down 1161.0% YoY) and the FY2025 annual result came in at 36.63%, down 1122.0% from the prior year.
- Operating Margin steadied at 41.03% in Q1 2026, from 40.94% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 55.24% in Q2 2022 to a low of 26.83% in Q2 2025.
- A 5-year average of 42.76% and a median of 41.94% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin surged 1517 bps — and 2025, when it sank 2353 bps.
- Tracing VCTR's Operating Margin over 5 years: stood at 39.5% in 2022, then advanced by 6 bps to 41.94% in 2023, then rose by 15 bps to 48.09% in 2024, then fell by 15 bps to 40.94% in 2025, then gained by 0 bps to 41.03% in 2026.
- The last three Operating Margin figures came in at 41.03% (Q1 2026), 40.94% (Q4 2025), and 38.24% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.29 Bn | 165.42 Bn | - | 34.74% |
| 2 | Blackstone | 114.53 Bn | 112.02 Bn | - | - |
| 3 | Kkr | 96.64 Bn | -180.43 Bn | - | 35.61% |
| 4 | Brookfield | 93.26 Bn | 45.85 Bn | - | - |
| 5 | Brookfield Asset Management | 83.47 Bn | 81.97 Bn | - | - |
| 6 | Apollo Global Management | 78.22 Bn | 52.85 Bn | 10.54 Bn | 47.97% |
| 7 | State Street | 51.53 Bn | 51.53 Bn | - | - |
| 8 | Ameriprise Financial | 51.10 Bn | 40.05 Bn | 4.72 Bn | 24.36% |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | - |
| 10 | Victory Capital Holdings | 7.18 Bn | 7.11 Bn | - | 44.50% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 44.50% |
| Mar 31, 2026 | 41.03% |
| Dec 31, 2025 | 40.94% |
| Sep 30, 2025 | 38.24% |
| Jun 30, 2025 | 26.83% |
| Mar 31, 2025 | 42.31% |
| Dec 31, 2024 | 48.09% |
| Sep 30, 2024 | 53.35% |
| Jun 30, 2024 | 50.36% |
| Mar 31, 2024 | 39.29% |
| Dec 31, 2023 | 41.94% |
| Sep 30, 2023 | 38.18% |
| Jun 30, 2023 | 42.86% |
| Mar 31, 2023 | 37.04% |
| Dec 31, 2022 | 39.50% |
| Sep 30, 2022 | 47.59% |
| Jun 30, 2022 | 55.24% |
| Mar 31, 2022 | 44.14% |
| Dec 31, 2021 | 39.20% |
| Sep 30, 2021 | 43.75% |