Victory Capital Holdings, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $330.1M | $288.9M | $213.2M | $275.5M | $278.4M | $212.5M | $92.5M | $63.7M |
| Depreciation & Amortization | $72.9M | $30.2M | $41.6M | $43.2M | $18.8M | $16.4M | $23.9M | $23.3M |
| Depreciation | $11.2M | $9.0M | $8.8M | $8.0M | $6.2M | $3.6M | $3.0M | $3.0M |
| Amortization | $61.6M | $21.2M | $29.0M | $35.2M | $12.6M | $12.8M | $20.9M | $20.3M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $385.5M | $340.0M | $330.3M | $335.2M | $376.2M | $250.6M | $227.4M | $134.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $4.2M | $1.3M | $5.2M | $5.2M | $12.7M | $8.1M | $5.2M | $2.5M |
| Business Acquisitions | — | $0 | $0 | $880.0K | $539.2M | — | $851.3M | — |
| Net Cash from Investing Activities | $76.6M | $-4.0M | $-7.8M | $-6.3M | $-556.6M | $-12.3M | $-849.8M | $-11.5M |
| Financing Activities | ||||||||
| Dividends Paid | $157.0M | $101.1M | $85.4M | $69.2M | $37.2M | $16.2M | $7.4M | $831.0K |
| Stock Repurchases | $195.6M | $103.6M | $139.3M | $101.2M | $31.5M | $29.9M | $15.5M | $8.2M |
| Net Cash from Financing Activities | $-425.5M | $-332.8M | $-237.1M | $-360.2M | $227.2M | $-252.7M | $608.0M | $-84.2M |
| Net Change in Cash | $37.0M | $3.2M | $85.4M | $-31.4M | $46.8M | $-14.4M | $-14.4M | $38.6M |
| Free Cash Flow | $381.3M | $338.7M | $325.1M | $330.0M | $363.5M | $242.6M | $222.1M | $131.8M |