VCTR FY 2021 Earnings Report — Victory Capital Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Victory Capital Holdings, Inc.VCTR

FY 2021 Earnings

Reported March 14, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$890M	—	$775M	—	14.8%
Op. Income	$374M	—	$315M	—	18.8%
Gross Margin	53.8%	—	51.9%	—	1.9pp
Net Margin	31.3%	—	27.4%	—	3.9pp
EPS (Diluted)	$3.75	—	$2.88	—	30.2%
Free Cash Flow	$364M	—	$243M	—	49.9%

Revenue Flow

Item	Amount
REVENUE	$890M
Cost of Revenue	$411M
GROSS PROFIT	$479M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$51M
Operating Expenses	$105M
Cost & Expenses	$516M
OPERATING INCOME	$374M
Interest Income	$6M
Interest Expense	$25M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$351M
Income Tax Expense	$72M
Net Income from Continuing Ops	$278M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$19M
EBIT	$373M
EBITDA	$392M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$890M
Cost of Revenue	$411M
GROSS PROFIT	$479M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$51M
Operating Expenses	$105M
Cost & Expenses	$516M
OPERATING INCOME	$374M
Interest Income	$6M
Interest Expense	$25M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$351M
Income Tax Expense	$72M
Net Income from Continuing Ops	$278M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$19M
EBIT	$373M
EBITDA	$392M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$278M
Depreciation & Amortization	$19M
Stock-Based Compensation	$26M
Deferred Income Tax	$19M
Other Non-Cash Items	$19M
Change in Working Capital	$14M
OPERATING CASH FLOW	$376M
Capital Expenditure	-$13M
Acquisitions (Net)	-$539M
Purchases of Investments	-$15M
Sales/Maturities of Investments	$10M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$557M
Net Debt Issuance	$360M
Common Stock Repurchased	-$32M
Common Dividends Paid	-$37M
Other Financing Activities	-$73M
NET CASH FROM FINANCING	$227M
FREE CASH FLOW	$364M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$70M
Short-Term Investments	$0
Net Receivables	$104M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$180M
PP&E (Net)	$25M
Goodwill	$982M
Intangible Assets	$1.3B
Long-Term Investments	$912.0K
Tax Assets	$0
Other Non-Current Assets	$41M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$2.6B
Account Payables	$62M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$371M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$63M
Other Non-Current Liabilities	$87M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.6B
Common Stock	$772.0K
Additional Paid-In Capital	$674M
Retained Earnings	$403M
Treasury Stock	-$153M
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$930M
Minority Interest	$0
TOTAL EQUITY	$930M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$1.1B
Net Debt	$1.1B