Is Victory Capital Holdings, Inc. overvalued or undervalued?

As of 3 October 2025, the valuation grade for Victory Capital Holdings, Inc. has moved from attractive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 16, an EV to EBITDA of 9.30, and a PEG ratio of 0.43, which suggests strong growth potential relative to its price.
In comparison to peers, Victory Capital's P/E of 15.76 is lower than Hamilton Lane, Inc. at 39.27, indicating that Victory may be more attractively priced despite its fair valuation grade. Additionally, Main Street Capital Corp. shows a very attractive P/E of 10.99, further emphasizing the competitive landscape. Notably, while Victory Capital has underperformed the S&P 500 over the past month and year, it has significantly outperformed over the last three and five years, with returns of 164.38% and 277.92%, respectively, compared to the S&P 500's 82.57% and 100.56%.