VCTR vs AMG

For growth investors, Victory Capital Holdings, Inc.

(VCTR) is the stronger pick with 46. 2% revenue growth year-over-year, versus 19. 8% for Affiliated Managers Group, Inc. (AMG). Affiliated Managers Group, Inc. (AMG) offers the better valuation at 13. 5x trailing P/E (9. 2x forward), making it the more compelling value choice. Analysts rate Victory Capital Holdings, Inc. (VCTR) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Affiliated Managers Group, Inc.

(AMG) is the cheapest at 13. 5x versus Victory Capital Holdings, Inc. at 20. 2x. On forward P/E, Affiliated Managers Group, Inc. is actually cheaper at 9. 2x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Affiliated Managers Group, Inc. wins at 0. 23x versus Victory Capital Holdings, Inc. 's 0. 43x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Victory Capital Holdings, Inc.

(VCTR) delivered a total return of +215. 0%, compared to +75. 1% for Affiliated Managers Group, Inc. (AMG). Over 10 years, the gap is even starker: VCTR returned +670. 8% versus AMG's +89. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Affiliated Managers Group, Inc.

(AMG) is the lower-risk stock at 1. 14β versus Victory Capital Holdings, Inc. 's 1. 32β — meaning VCTR is approximately 16% more volatile than AMG relative to the S&P 500. On balance sheet safety, Victory Capital Holdings, Inc. (VCTR) carries a lower debt/equity ratio of 40% versus 61% for Affiliated Managers Group, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Victory Capital Holdings, Inc.

(VCTR) is pulling ahead at 46. 2% versus 19. 8% for Affiliated Managers Group, Inc. (AMG). On earnings-per-share growth, the picture is similar: Affiliated Managers Group, Inc. grew EPS 50. 3% year-over-year, compared to -6. 8% for Victory Capital Holdings, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Affiliated Managers Group, Inc.

(AMG) is the more profitable company, earning 29. 3% net margin versus 25. 3% for Victory Capital Holdings, Inc. — meaning it keeps 29. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VCTR leads at 42. 5% versus 31. 8% for AMG. At the gross margin level — before operating expenses — AMG leads at 86. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Affiliated Managers Group, Inc. (AMG) is the more undervalued stock at a PEG of 0. 23x versus Victory Capital Holdings, Inc. 's 0. 43x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Affiliated Managers Group, Inc. (AMG) trades at 9. 2x forward P/E versus 12. 0x for Victory Capital Holdings, Inc. — 2. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AMG: 8. 3% to $331. 50.

In this comparison, VCTR (2.

3% yield) pays a dividend. AMG does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Victory Capital Holdings, Inc.

(VCTR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (2. 3% yield, +670. 8% 10Y return). Both have compounded well over 10 years (VCTR: +670. 8%, AMG: +89. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

VCTR pays a dividend while AMG does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.