Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Victory Capital HoldingsFRA:3PK +2.09%90 Return-on-Tangible-Asset is 118.34% as of Jun. 2026, which is 48% above its 10-year median of 80.05. GuruFocus rates FRA:3PK with a GF Score™ of 90/100 and a GF Value™ of €84.11. The stock has 6 warning signs investors should review. Among 1,631 Asset Management companies, Victory Capital Holdings ranks better than 99.57% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Victory Capital Holdings's annualizedNet Income for the quarter that ended in Jun. 2026 was €484 Mil. Victory Capital Holdings's average total tangible assets for the quarter that ended in Jun. 2026 was €409 Mil. Therefore, Victory Capital Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 118.34%.
The historical rank and industry rank for Victory Capital Holdings's Return-on-Tangible-Asset or its related term are showing as below:
FRA:3PK'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -5.96 Med: 80.05 Max: 135.31
Current: 93.67
During the past 11 years, Victory Capital Holdings's highest Return-on-Tangible-Asset was 135.31%. The lowest was -5.96%. And the median was 80.05%.
FRA:3PK's Return-on-Tangible-Asset is ranked better than 99.57% of 1631
companies
in the Asset Management industry
Industry Median: 4.58
vs FRA:3PK: 93.67
Victory Capital Holdings (FRA:3PK) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Victory Capital Holdings Return-on-Tangible-Asset Related Terms
Victory Capital Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Victory Capital Holdings's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Victory Capital Holdings Return-on-Tangible-Asset Chart
FRA:3PK vs OWL, BXSL, OBDC: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Victory Capital Holdings's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Victory Capital Holdings Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Victory Capital Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Victory Capital Holdings's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 118.34% mean?
Victory Capital Holdings (FRA:3PK) has a Return-on-Tangible-Asset of 118.34% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Victory Capital Holdings and its competitors. This is 48% above median its historical median of 80.05. According to the industry distribution chart, Victory Capital Holdings ranks #7 out of 1631 companies in the Asset Management industry, placing it in the top 0.40000000000001%.
Is Victory Capital Holdings' Return-on-Tangible-Asset too high?
Victory Capital Holdings' current Return-on-Tangible-Asset of 118.34% is 48% above median its 10-year median of 80.05. The Asset Management industry median Return-on-Tangible-Asset is 4.58. Victory Capital Holdings' value of 118.34% is 2483.8% above this industry median. Based on the distribution chart, Victory Capital Holdings ranks #7 out of 1631 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Victory Capital Holdings has a GF Score™ of 90/100, reflecting its overall financial health beyond just this single metric.
How does Victory Capital Holdings' Return-on-Tangible-Asset compare to OWL and BXSL?
According to the Asset Management industry distribution chart, Victory Capital Holdings ranks #7 out of 1631 companies for Return-on-Tangible-Asset. This places Victory Capital Holdings in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 4.58. Victory Capital Holdings' value of 118.34% is 2483.8% above this benchmark. While the company's 10-year median is 80.05 vs. the industry median of 4.58, Victory Capital Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.58, based on 1,631 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Victory Capital Holdings's current Return-on-Tangible-Asset of 118.34% is 2483.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Victory Capital Holdings and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Victory Capital Holdings's current Return-on-Tangible-Asset is 118.34%, which is 48% above median its own 10-year median of 80.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Victory Capital Holdings stock overvalued right now?
Victory Capital Holdings (FRA:3PK) has a current Return-on-Tangible-Asset of 118.34%. The stock's GF Value™ is €84.11, compared to a current price of €97.50 — trading 15.9% above its estimated fair value. The current Return-on-Tangible-Asset is 118.34%, which is 48% above median its 10-year median of 80.05 and 2483.8% above the Asset Management industry median of 4.58. Victory Capital Holdings' overall GF Score™ is 90/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Victory Capital Holdings (FRA:3PK), the current Return-on-Tangible-Asset is 118.34% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Victory Capital Holdings (FRA:3PK) Overvalued in 2026?
Based on GuruFocus' analysis, Victory Capital Holdings stock appears to be overvalued.
The current stock price of €97.50 is trading 15.9% above its estimated GF Value™ of €84.11.
Key valuation signals for FRA:3PK:
Return-on-Tangible-Asset: 118.34% (48% above median its 10-year median of 80.05)
GF Value™: €84.11 vs. price of €97.50 (15.9% above fair value)
Industry Position: 2483.8% above the Asset Management median (#7 of 1631)
No single metric tells the full story. See the FRA:3PK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Victory Capital Holdings Inc is a diversified investment management firm. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. Its offerings include actively and passively managed mutual funds, rules-based and active exchange traded funds (ETFs), institutional separate accounts, variable insurance products (VIPs), alternative investments, private closed end funds, and a 529 Education Savings Plan. The company operates in one operating and reportable segment that provides investment management services and products to institutional, intermediary, retirement platforms and individual investors. The majority of the company's revenue consists of Investment management fees.
90GF Score
Get the complete analysis for FRA:3PK
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:3PK has been successfully added to your 
