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Virtu Financial (VIRT) Financials

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$42.44 -0.01 (-0.02%)
Closing price 03:59 PM Eastern
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$42.52 +0.07 (+0.17%)
As of 05:54 PM Eastern
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Annual Income Statements for Virtu Financial

Annual Income Statements for Virtu Financial

This table shows Virtu Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 190 21 33 2.94 289 -59 649 477 265 142 276
Consolidated Net Income / (Loss)		 190 197 158 19 620 -104 1,121 827 468 264 535
Net Income / (Loss) Continuing Operations		 190 197 158 19 620 -104 1,121 827 468 264 535
Total Pre-Tax Income 		194 216 180 113 696 -116 1,383 997 557 325 645
Total Revenue		 723 796 703 1,024 1,855 1,451 3,239 2,811 2,365 2,293 2,877
Net Interest Income / (Expense)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 723 796 703 1,024 1,855 1,451 3,239 2,811 2,365 2,293 2,877
Service Charges on Deposit Accounts		 9.98 11 10 117 184 499 601 614 530 456 517
Other Service Charges		 - - - 95 340 -2.15 83 16 47 74 76
Net Realized & Unrealized Capital Gains on Investments		 685 757 666 762 1,243 846 2,493 2,105 1,629 1,301 1,822
Other Non-Interest Income		 28 28 26 50 88 109 62 75 159 463 462
Total Non-Interest Expense		 529 580 523 911 1,159 1,567 1,856 1,815 1,808 1,968 2,232
Salaries and Employee Benefits		 87 132 87 178 216 384 394 376 391 394 435
Net Occupancy & Equipment Expense		 69 69 71 132 176 209 214 212 220 231 236
Property & Liability Insurance Claims		 3.00 - 0.00 25 11 26 2.94 0.84 1.12 0.31 0.31
Other Operating Expenses		 309 316 307 449 597 690 1,018 1,008 973 1,117 1,346
Depreciation Expense		 30 34 30 47 61 66 67 68 66 63 66
Amortization Expense		 0.21 0.21 0.21 15 26 71 74 70 65 64 50
Other Special Charges		 31 29 28 64 72 122 88 80 92 99 98
Income Tax Expense		 3.50 18 21 94 76 -12 262 170 88 61 110
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 177 125 16 331 -45 472 350 203 122 258
Basic Earnings per Share		 - $0.60 $0.83 $0.03 $2.82 ($0.53) $5.19 $3.95 $2.45 $1.42 $2.98
Weighted Average Basic Shares Outstanding		 - 34.96M 38.54M 62.58M 100.88M 113.92M 121.69M 117.34M 104.00M 94.08M 87.48M
Diluted Earnings per Share		 - $0.59 $0.83 $0.03 $2.78 ($0.53) $5.16 $3.91 $2.44 $1.42 $2.97
Weighted Average Diluted Shares Outstanding		 - 35.34M 38.54M 62.58M 102.09M 113.92M 122.33M 118.42M 104.42M 94.08M 87.82M
Weighted Average Basic & Diluted Shares Outstanding		 - 34.80M 39.70M 98M 102.60M 192.18M 192.41M 177.92M 166.83M 158.11M 154.91M
Cash Dividends to Common per Share		 - - - - - $0.24 $0.24 $0.24 $0.24 $0.24 $0.24

Quarterly Income Statements for Virtu Financial

This table shows Virtu Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 28 58 17 62 5.54 56 67 60 94 100 151
Consolidated Net Income / (Loss)		 40 110 30 118 6.70 111 128 119 176 190 293
Net Income / (Loss) Continuing Operations		 40 110 30 118 6.70 111 128 119 176 190 293
Total Pre-Tax Income 		40 135 35 138 17 140 155 147 203 224 347
Total Revenue		 498 620 507 630 536 643 693 707 834 838 1,000
Net Interest Income / (Expense)		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 498 620 507 630 536 643 693 707 834 838 1,000
Service Charges on Deposit Accounts		 118 121 110 110 114 119 126 132 140 151 154
Other Service Charges		 2.94 4.18 -6.80 76 0.37 10 33 5.99 26 -12 65
Net Realized & Unrealized Capital Gains on Investments		 313 413 306 316 267 408 426 444 544 590 653
Other Non-Interest Income		 64 82 98 128 155 106 107 125 124 109 128
Total Non-Interest Expense		 458 486 471 492 519 503 538 560 632 614 653
Salaries and Employee Benefits		 86 103 96 97 98 101 106 108 121 119 136
Net Occupancy & Equipment Expense		 55 57 57 57 60 58 59 60 59 60 61
Property & Liability Insurance Claims		 0.01 0.02 0.01 0.01 0.29 0.14 0.06 0.07 0.05 0.34 0.06
Other Operating Expenses		 260 270 262 281 304 290 321 340 396 377 395
Depreciation Expense		 16 15 16 16 16 16 16 16 17 16 16
Amortization Expense		 16 16 16 16 16 15 12 12 12 12 12
Other Special Charges		 25 24 25 25 25 23 23 24 27 30 33
Income Tax Expense		 0.06 25 5.92 21 10 29 27 28 27 34 54
Net Income / (Loss) Attributable to Noncontrolling Interest		 12 52 13 56 1.16 55 62 59 82 90 142
Basic Earnings per Share		 $0.30 $0.56 $0.16 $0.63 $0.07 $0.59 $0.71 $0.65 $1.03 $1.09 $1.65
Weighted Average Basic Shares Outstanding		 104.00M 97.80M 94.97M 93.41M 94.08M 89.00M 88.14M 87.15M 87.48M 85.68M 85.49M
Diluted Earnings per Share		 $0.31 $0.56 $0.16 $0.63 $0.07 $0.59 $0.71 $0.64 $1.03 $1.08 $1.65
Weighted Average Diluted Shares Outstanding		 104.42M 97.81M 94.97M 93.41M 94.08M 89.00M 88.36M 87.54M 87.82M 86.05M 85.53M
Weighted Average Basic & Diluted Shares Outstanding		 166.83M 164.37M 162.96M 159.18M 158.11M 157.19M 155.86M 154.62M 154.91M 154.20M 152.86M

Annual Cash Flow Statements for Virtu Financial

This table details how cash moves in and out of Virtu Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 9.85 87 18 342 208 37 234 114 -83 -183 59
Net Cash From Operating Activities		 273 260 240 291 715 169 1,061 1,172 707 492 599
Net Cash From Continuing Operating Activities		 273 260 240 291 715 169 1,061 1,172 707 492 599
Net Income / (Loss) Continuing Operations		 190 197 158 19 620 -104 1,121 827 468 264 535
Consolidated Net Income / (Loss)		 190 197 158 19 620 -104 1,121 827 468 264 535
Depreciation Expense		 30 34 30 47 61 66 67 68 66 63 66
Amortization Expense		 1.55 1.97 1.90 21 37 82 100 77 72 75 57
Non-Cash Adjustments to Reconcile Net Income		 12 73 29 -27 -269 403 -12 77 71 111 33
Changes in Operating Assets and Liabilities, net		 38 -46 21 231 266 -278 -215 123 29 -22 -92
Net Cash From Investing Activities		 -36 -24 -59 -838 329 -900 -2.56 -87 -30 -94 -62
Net Cash From Continuing Investing Activities		 -36 -24 -59 -838 329 -900 -2.56 -87 -30 -94 -62
Purchase of Property, Leasehold Improvements and Equipment		 -36 -24 -20 -33 -48 -58 -60 -60 -65 -76 -54
Purchase of Investment Securities		 - - -39 0.00 0.00 -842 -10 -27 35 -18 -7.53
Net Cash From Financing Activities		 -222 -144 -161 890 -835 770 -840 -958 -736 -585 -470
Net Cash From Continuing Financing Activities		 -222 -144 -159 890 -835 770 -840 -958 -736 -585 -470
Issuance of Debt		 - 45 76 1,122 0.00 1,532 -11 -2.02 1,741 -3.94 1,780
Repayment of Debt		 -80 -3.89 -29 -794 -517 -536 -298 -39 -1,636 -77 -1,754
Repurchase of Common Equity		 - -290 -4.54 -14 -75 -16 -50 -431 -489 -231 -191
Payment of Dividends		 - -17 -38 -153 -100 -212 -484 -548 -375 -306 -299
Other Financing Activities, Net		 -141 -213 -180 -7.05 -143 0.93 3.15 62 23 33 -5.06
Effect of Exchange Rate Changes		 -5.03 -4.26 -1.17 - - -1.48 15 -12 -24 4.96 -9.05
Cash Interest Paid		 61 63 55 113 139 205 174 160 247 632 586
Cash Income Taxes Paid		 3.76 13 16 5.98 94 12 249 135 104 39 43

Quarterly Cash Flow Statements for Virtu Financial

This table details how cash moves in and out of Virtu Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 148 -229 -63 -19 129 -426 287 22 176 -143 19
Net Cash From Operating Activities		 416 -148 122 170 348 -395 491 112 391 15 63
Net Cash From Continuing Operating Activities		 416 -148 122 170 348 -395 491 112 391 15 63
Net Income / (Loss) Continuing Operations		 40 110 30 118 6.70 111 128 119 176 190 293
Consolidated Net Income / (Loss)		 40 110 30 118 6.70 111 128 119 176 190 293
Depreciation Expense		 16 15 16 16 16 16 16 16 17 16 16
Amortization Expense		 17 18 18 18 22 16 14 14 13 13 14
Non-Cash Adjustments to Reconcile Net Income		 -26 20 13 33 45 -13 20 -1.41 26 34 -58
Changes in Operating Assets and Liabilities, net		 369 -311 46 -14 258 -527 312 -36 158 -238 -202
Net Cash From Investing Activities		 -19 -36 -19 -15 -24 -27 -8.97 -19 -6.19 -31 20
Net Cash From Continuing Investing Activities		 -19 -36 -19 -15 -24 -27 -8.97 -19 -6.19 -31 20
Purchase of Property, Leasehold Improvements and Equipment		 -15 -34 -14 -7.98 -20 -26 -9.19 -12 -7.20 -30 -11
Purchase of Investment Securities		 -3.34 -1.35 -5.51 -7.35 -4.15 -1.28 0.22 -7.48 1.01 -1.35 -7.25
Net Cash From Financing Activities		 -269 -47 -169 -170 -200 0.36 -195 -78 -197 -132 -76
Net Cash From Continuing Financing Activities		 -269 -47 -169 -170 -200 0.36 -195 -78 -197 -132 -76
Issuance of Debt		 -164 121 -10.00 -15 -100 140 1,677 55 -91 1,323 139
Repurchase of Common Equity		 -46 -94 -42 -49 -46 -52 -31 -50 -58 -90 -69
Payment of Dividends		 -59 -52 -94 -106 -54 -68 -93 -87 -52 -95 -160
Other Financing Activities, Net		 - 0.00 -23 -0.06 56 -20 2.51 8.62 4.03 -18 13
Effect of Exchange Rate Changes		 19 1.65 2.53 -4.01 4.79 -3.53 0.44 6.84 -13 4.74 13
Cash Interest Paid		 78 97 129 145 262 142 143 141 160 134 179
Cash Income Taxes Paid		 3.12 3.47 12 18 5.09 6.61 19 6.59 11 12 63

Annual Balance Sheets for Virtu Financial

This table presents Virtu Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,319 3,392 3,692 7,320 7,381 9,609 9,966 10,320 10,583 14,466 15,362
Cash and Due from Banks		 76 163 181 533 730 732 890 1,071 982 820 873
Restricted Cash		 - - - - 6.50 41 117 49 57 35 41
Trading Account Securities		 516 468 220 1,471 1,415 2,072 1,448 5,726 6,155 10,593 11,081
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 - - - - 11 104 214 146 81 106 150
Premises and Equipment, Net		 45 38 30 137 - 116 114 90 85 100 91
Goodwill		 715 715 715 845 837 1,149 1,149 1,149 1,149 1,149 1,149
Intangible Assets		 1.41 1.20 0.99 111 197 530 454 386 321 258 203
Other Assets		 1,966 2,006 2,545 4,223 4,185 4,866 5,579 1,702 1,753 1,405 1,773
Total Liabilities & Shareholders' Equity		 3,319 3,392 3,692 7,320 7,381 9,609 9,966 10,320 10,583 14,466 15,362
Total Liabilities		 2,813 2,834 3,158 6,168 5,886 8,380 8,111 8,456 8,932 13,061 13,874
Short-Term Debt		 688 532 721 1,135 875 1,331 1,521 1,202 952 2,987 2,275
Long-Term Debt		 994 1,018 787 2,143 2,037 3,518 2,588 2,747 2,856 3,057 4,172
Other Long-Term Liabilities		 1,131 1,284 1,650 2,890 2,974 3,532 4,002 4,507 5,124 7,017 7,427
Commitments & Contingencies		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 212 558 534 1,152 1,495 1,229 1,855 1,864 1,651 1,405 1,487
Total Preferred & Common Equity		 212 131 146 831 1,052 931 1,469 1,549 1,342 1,203 1,254
Total Common Equity		 212 131 146 831 1,052 931 1,469 1,549 1,342 1,203 1,254
Common Stock		 - 131 156 901 1,010 1,077 1,161 1,223 1,293 1,352 1,432
Retained Earnings		 -91 3.53 -1.25 -62 97 -90 422 831 972 1,000 1,169
Treasury Stock		 - -3.82 -8.36 -11 -55 -55 -89 -494 -955 -1,166 -1,340
Accumulated Other Comprehensive Income / (Loss)		 -3.71 0.10 -0.25 2.99 -0.08 -0.65 -25 -10 32 17 -7.06
Noncontrolling Interest		 - 427 389 321 443 298 386 314 310 203 233

Quarterly Balance Sheets for Virtu Financial

This table presents Virtu Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets		 11,861 13,390 17,618 12,790 13,929 14,401 17,548 19,284
Cash and Due from Banks		 769 699 689 400 685 701 724 752
Restricted Cash		 40 47 38 30 32 37 47 38
Trading Account Securities		 7,610 8,911 12,939 8,733 10,042 10,196 12,654 14,667
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 109 131 148 119 125 170 189 360
Premises and Equipment, Net		 93 96 92 97 95 94 93 92
Goodwill		 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149
Intangible Assets		 305 289 273 243 227 215 190 178
Other Assets		 1,785 2,068 2,290 2,020 1,575 1,839 2,501 2,047
Total Liabilities & Shareholders' Equity		 11,861 13,390 17,618 12,790 13,929 14,401 17,548 19,284
Total Liabilities		 10,226 11,837 16,108 11,366 12,501 12,981 15,987 17,651
Short-Term Debt		 1,495 2,120 4,089 1,481 2,048 1,892 2,415 3,443
Long-Term Debt		 2,807 3,085 3,239 3,367 3,296 3,851 4,568 4,862
Other Long-Term Liabilities		 5,925 6,632 8,780 6,517 7,157 7,239 9,003 9,346
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,635 1,552 1,511 1,424 1,429 1,419 1,562 1,633
Total Preferred & Common Equity		 1,306 1,275 1,265 1,212 1,231 1,232 1,310 1,407
Total Common Equity		 1,306 1,275 1,265 1,212 1,231 1,232 1,310 1,407
Common Stock		 1,323 1,335 1,343 1,380 1,394 1,416 1,476 1,504
Retained Earnings		 988 980 1,018 1,018 1,062 1,098 1,227 1,356
Treasury Stock		 -1,030 -1,072 -1,121 -1,202 -1,233 -1,282 -1,388 -1,455
Accumulated Other Comprehensive Income / (Loss)		 25 31 24 16 8.71 0.96 -5.55 2.23
Noncontrolling Interest		 330 277 245 212 198 187 252 226

Annual Metrics And Ratios for Virtu Financial

This table displays calculated financial ratios and metrics derived from Virtu Financial's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.81% 10.12% -11.76% 45.80% 81.13% -21.79% 123.24% -13.21% -15.89% -3.02% 25.45%
EBITDA Growth		 4.23% 11.52% -16.03% -13.94% 336.87% -95.97% 4,747.17% -26.37% -39.11% -33.26% 65.62%
EBIT Growth		 3.18% 11.56% -16.83% -36.99% 515.36% -116.66% 1,292.29% -27.91% -44.15% -41.61% 98.37%
NOPAT Growth		 4.31% 3.91% -19.82% -88.06% 3,181.79% -113.09% 1,480.65% -26.20% -43.39% -43.65% 102.54%
Net Income Growth		 4.31% 3.91% -19.82% -88.06% 3,181.79% -116.72% 1,180.87% -26.20% -43.39% -43.65% 102.54%
EPS Growth		 0.00% 0.00% 40.68% -96.39% 9,166.67% -119.06% 1,073.58% -24.22% -37.60% -41.80% 109.15%
Operating Cash Flow Growth		 5.14% -4.55% -7.95% 21.28% 145.93% -76.38% 528.59% 10.44% -39.67% -30.42% 21.80%
Free Cash Flow Firm Growth		 0.00% 113.93% -19.71% -1,159.76% 127.14% -372.57% 170.49% -20.81% -15.96% -309.94% 102.83%
Invested Capital Growth		 0.00% -3.69% -3.09% 116.86% -0.51% 37.91% -1.87% -2.53% -6.08% 36.44% 6.52%
Revenue Q/Q Growth		 0.00% -4.40% -0.84% 40.16% 20.37% -23.53% 11.91% 1.57% 0.00% 1.69% 11.57%
EBITDA Q/Q Growth		 0.00% -8.74% -4.28% 168.37% 1.39% -83.27% 22.42% -2.75% 0.00% -3.68% 30.19%
EBIT Q/Q Growth		 0.00% -9.98% -4.61% 434.02% 2.68% -292.76% 26.18% -3.16% 0.00% -6.58% 40.47%
NOPAT Q/Q Growth		 0.00% -11.62% -4.96% -6.32% 22.65% -210.23% 25.41% -1.40% 0.00% -11.09% 46.39%
Net Income Q/Q Growth		 0.00% -11.62% -4.96% -6.32% 22.65% -240.81% 25.41% -1.40% 0.00% -11.09% 46.39%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -75.00% 22.47% -340.91% 24.34% 1.82% 0.00% -14.46% 47.76%
Operating Cash Flow Q/Q Growth		 0.00% -26.51% 15.26% 8.33% 84.03% 207.63% 6.24% 23.09% 0.00% -12.19% 7.81%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -47.14% 15.11% -22.78% -23.95% 4.62% 589.36% -87.54% 79.80% -97.61%
Invested Capital Q/Q Growth		 0.00% -1.05% 9.00% -5.42% 1.15% 4.00% 7.31% -11.87% 0.00% -15.72% 10.79%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 31.19% 31.59% 30.06% 17.74% 42.80% 2.20% 47.85% 40.60% 29.39% 20.22% 26.70%
EBIT Margin		 26.77% 27.12% 25.56% 11.05% 37.53% -7.99% 42.69% 35.46% 23.55% 14.18% 22.42%
Profit (Net Income) Margin		 26.29% 24.80% 22.54% 1.84% 33.43% -7.15% 34.60% 29.42% 19.80% 11.51% 18.58%
Tax Burden Percent		 98.19% 91.46% 88.17% 16.70% 89.06% 89.41% 81.06% 82.98% 84.11% 81.17% 82.88%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 1.81% 8.54% 11.83% 83.30% 10.94% 0.00% 18.94% 17.02% 15.89% 18.83% 17.12%
Return on Invested Capital (ROIC)		 17.37% 9.19% 7.63% 0.58% 14.04% -1.55% 18.62% 14.05% 8.31% 4.09% 6.95%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.37% 9.19% 7.63% 0.58% 14.04% -2.13% 18.62% 14.05% 8.31% 4.09% 6.95%
Return on Net Nonoperating Assets (RNNOA)		 57.65% 27.91% 21.36% 1.66% 32.84% -6.07% 54.08% 30.44% 18.34% 13.18% 30.01%
Return on Equity (ROE)		 75.02% 37.10% 28.99% 2.24% 46.87% -7.62% 72.69% 44.49% 26.65% 17.27% 36.96%
Cash Return on Invested Capital (CROIC)		 -182.63% 12.96% 10.77% -73.18% 14.55% -33.41% 20.51% 16.61% 14.58% -26.73% 0.63%
Operating Return on Assets (OROA)		 5.83% 6.43% 5.07% 2.06% 9.47% -1.37% 14.13% 9.83% 5.33% 2.60% 4.32%
Return on Assets (ROA)		 5.73% 5.89% 4.47% 0.34% 8.44% -1.22% 11.45% 8.16% 4.48% 2.11% 3.58%
Return on Common Equity (ROCE)		 31.43% 11.95% 7.34% 1.30% 33.34% -5.55% 56.57% 36.11% 21.92% 14.37% 31.39%
Return on Equity Simple (ROE_SIMPLE)		 89.54% 151.09% 108.70% 2.28% 58.96% -11.13% 76.33% 53.39% 34.90% 21.94% 42.62%
Net Operating Profit after Tax (NOPAT)		 190 197 158 19 620 -81 1,121 827 468 264 535
NOPAT Margin		 26.29% 24.80% 22.54% 1.84% 33.43% -5.60% 34.60% 29.42% 19.80% 11.51% 18.58%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.58% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 21.58% 25.23% 22.50% 30.24% 21.11% 40.87% 18.75% 20.92% 25.81% 27.24% 23.33%
Operating Expenses to Revenue		 73.23% 72.88% 74.44% 88.95% 62.47% 107.99% 57.31% 64.54% 76.45% 85.82% 77.58%
Earnings before Interest and Taxes (EBIT)		 194 216 180 113 696 -116 1,383 997 557 325 645
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 226 252 211 182 794 32 1,550 1,141 695 464 768
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 16.22 10.88 3.13 3.64 0.85 2.86 3.02 2.39 2.58 4.40
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 212.92 0.00 0.00 331.64 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 2.66 2.26 2.54 2.07 0.55 1.30 1.67 1.36 1.35 1.92
Price to Earnings (P/E)		 0.00 101.48 48.05 883.88 13.24 0.00 6.46 9.83 12.10 21.85 19.96
Dividend Yield		 0.00% 3.14% 8.41% 6.92% 4.74% 7.28% 4.43% 3.73% 5.15% 4.92% 2.69%
Earnings Yield		 0.00% 0.99% 2.08% 0.11% 7.55% 0.00% 15.47% 10.18% 8.26% 4.58% 5.01%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.87 1.62 1.28 1.46 0.85 1.29 1.35 1.15 1.14 1.42
Enterprise Value to Revenue (EV/Rev)		 0.00 4.94 4.70 5.53 3.48 3.56 2.37 2.78 2.66 3.70 3.92
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 15.64 15.63 31.16 8.12 161.54 4.96 6.86 9.05 18.31 14.69
Enterprise Value to EBIT (EV/EBIT)		 0.00 18.22 18.38 50.05 9.26 0.00 5.56 7.85 11.29 26.12 17.49
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 19.92 20.84 299.70 10.40 0.00 6.86 9.46 13.43 32.18 21.11
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 15.11 13.77 19.49 9.03 30.61 7.24 6.68 8.90 17.27 18.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 14.13 14.77 0.00 10.04 0.00 6.22 8.01 7.65 0.00 231.46
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.32 2.78 2.82 2.85 1.95 3.95 2.21 2.12 2.31 4.30 4.33
Long-Term Debt to Equity		 1.96 1.83 1.47 1.86 1.36 2.86 1.39 1.47 1.73 2.18 2.81
Financial Leverage		 3.32 3.04 2.80 2.84 2.34 2.85 2.90 2.17 2.21 3.22 4.32
Leverage Ratio		 6.55 6.30 6.49 6.53 5.56 6.24 6.35 5.46 5.95 8.19 10.31
Compound Leverage Factor		 6.55 6.30 6.49 6.53 5.56 6.24 6.35 5.46 5.95 8.19 10.31
Debt to Total Capital		 76.85% 73.53% 73.84% 74.00% 66.08% 79.78% 68.89% 67.94% 69.75% 81.13% 81.25%
Short-Term Debt to Total Capital		 31.45% 25.22% 35.30% 25.62% 19.86% 21.90% 25.51% 20.68% 17.43% 40.10% 28.67%
Long-Term Debt to Total Capital		 45.40% 48.31% 38.54% 48.39% 46.22% 57.88% 43.39% 47.26% 52.32% 41.03% 52.58%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 13.45% 20.27% 19.03% 7.25% 10.05% 4.90% 6.48% 5.41% 5.67% 2.72% 2.94%
Common Equity to Total Capital		 9.70% 6.20% 7.13% 18.75% 23.87% 15.32% 24.62% 26.65% 24.58% 16.15% 15.81%
Debt to EBITDA		 7.46 6.16 7.14 18.03 3.67 151.63 2.65 3.46 5.48 13.03 8.39
Net Debt to EBITDA		 7.12 5.51 6.28 15.10 2.74 127.45 2.00 2.48 3.99 11.19 7.20
Long-Term Debt to EBITDA		 4.41 4.05 3.73 11.79 2.57 110.02 1.67 2.41 4.11 6.59 5.43
Debt to NOPAT		 8.85 7.85 9.52 173.46 4.70 -59.72 3.67 4.77 8.13 22.90 12.06
Net Debt to NOPAT		 8.45 7.02 8.38 145.26 3.51 -50.20 2.77 3.42 5.91 19.66 10.35
Long-Term Debt to NOPAT		 5.23 5.16 4.97 113.41 3.28 -43.33 2.31 3.32 6.10 11.58 7.81
Noncontrolling Interest Sharing Ratio		 58.11% 67.78% 74.70% 42.10% 28.86% 27.18% 22.18% 18.84% 17.75% 16.75% 15.07%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,998 278 223 -2,368 643 -1,752 1,235 978 822 -1,725 49
Operating Cash Flow to CapEx		 754.17% 1,071.16% 1,182.45% 878.13% 1,490.32% 291.93% 1,757.62% 1,950.43% 1,089.75% 645.98% 1,102.85%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.22 0.24 0.20 0.19 0.25 0.17 0.33 0.28 0.23 0.18 0.19
Fixed Asset Turnover		 16.20 19.39 20.92 12.29 0.00 0.00 28.21 27.67 27.06 24.72 30.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,188 2,108 2,043 4,430 4,407 6,078 5,964 5,813 5,460 7,449 7,935
Invested Capital Turnover		 0.66 0.37 0.34 0.32 0.42 0.28 0.54 0.48 0.42 0.36 0.37
Increase / (Decrease) in Invested Capital		 2,188 -81 -65 2,387 -22 1,671 -114 -151 -353 1,989 486
Enterprise Value (EV)		 0.00 3,933 3,300 5,664 6,452 5,166 7,685 7,829 6,288 8,494 11,283
Market Capitalization		 0.00 2,120 1,585 2,598 3,833 793 4,196 4,686 3,208 3,103 5,517
Book Value per Share		 $0.00 $0.94 $1.05 $4.44 $5.56 $15.50 $7.59 $8.50 $12.90 $7.56 $8.11
Tangible Book Value per Share		 $0.00 ($4.23) ($4.11) ($0.67) $0.10 ($12.43) ($0.70) $0.08 ($1.24) ($1.28) ($0.63)
Total Capital		 2,188 2,108 2,043 4,430 4,407 6,078 5,964 5,813 5,460 7,449 7,935
Total Debt		 1,682 1,550 1,508 3,278 2,912 4,849 4,109 3,950 3,808 6,044 6,447
Total Long-Term Debt		 994 1,018 787 2,143 2,037 3,518 2,588 2,747 2,856 3,057 4,172
Net Debt		 1,606 1,387 1,327 2,745 2,176 4,075 3,102 2,829 2,770 5,188 5,533
Capital Expenditures (CapEx)		 36 24 20 33 48 58 60 60 65 76 54
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 23 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 1,682 1,550 1,508 3,278 2,912 4,849 4,109 3,950 3,808 6,044 6,447
Total Depreciation and Amortization (D&A)		 32 36 32 69 98 148 167 144 138 139 123
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.60 $0.83 $0.03 $2.82 ($0.53) $5.19 $3.95 $2.45 $1.42 $2.98
Adjusted Weighted Average Basic Shares Outstanding		 0.00 34.96M 38.54M 62.58M 100.88M 113.92M 121.69M 117.34M 104.00M 94.08M 87.48M
Adjusted Diluted Earnings per Share		 $0.00 $0.59 $0.83 $0.03 $2.78 ($0.53) $5.16 $3.91 $2.44 $1.42 $2.97
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 35.34M 38.54M 62.58M 102.09M 113.92M 122.33M 118.42M 104.42M 94.08M 87.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 138.80M 139.36M 188.19M 189.89M 192.18M 192.41M 177.92M 166.83M 158.11M 154.91M
Normalized Net Operating Profit after Tax (NOPAT)		 220 224 183 124 684 4.11 1,192 894 546 345 616
Normalized NOPAT Margin		 30.48% 28.16% 26.09% 12.11% 36.87% 0.28% 36.80% 31.78% 23.08% 15.02% 21.40%
Pre Tax Income Margin		 26.77% 27.12% 25.56% 11.05% 37.53% -7.99% 42.69% 35.46% 23.55% 14.18% 22.42%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 8.79% 23.85% 811.60% 16.18% -204.07% 43.22% 66.25% 80.13% 116.00% 56.01%
Augmented Payout Ratio		 0.00% 155.52% 26.71% 884.77% 28.33% -219.57% 47.66% 118.34% 184.50% 203.36% 91.77%

Quarterly Metrics And Ratios for Virtu Financial

This table displays calculated financial ratios and metrics derived from Virtu Financial's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% -11.53% -16.19% 12.32% 7.68% 3.62% 36.72% 12.16% 55.66% 30.34% 44.24%
EBITDA Growth		 0.00% -39.71% -66.73% 26.36% -24.31% 2.69% 167.99% 3.19% 323.23% 46.86% 102.89%
EBIT Growth		 0.00% -44.25% -79.59% 35.92% -57.69% 3.75% 338.11% 6.56% 1,106.41% 60.02% 123.33%
NOPAT Growth		 0.00% -44.94% -80.16% 47.22% -83.09% 1.11% 333.65% 1.22% 2,527.77% 70.37% 128.68%
Net Income Growth		 0.00% -44.94% -80.16% 47.22% -83.09% 1.11% 333.65% 1.22% 2,527.77% 70.37% 128.68%
EPS Growth		 0.00% -42.86% -79.49% 70.27% -77.42% 5.36% 343.75% 1.59% 1,371.43% 83.05% 132.39%
Operating Cash Flow Growth		 0.00% 41.85% -61.00% -26.96% -16.39% -166.48% 302.32% -34.09% 12.47% 103.78% -87.21%
Free Cash Flow Firm Growth		 161.02% 19.96% -280.41% -230.63% -604.31% -131.07% 116.79% 120.59% 84.38% -829.28% -2,634.18%
Invested Capital Growth		 -6.08% -9.34% 11.64% 0.00% 36.44% 5.65% 0.22% -18.97% 6.52% 36.23% 46.75%
Revenue Q/Q Growth		 -11.28% 24.63% -18.30% 24.33% -14.95% 19.94% 7.80% 2.00% 18.04% 0.43% 19.30%
EBITDA Q/Q Growth		 -46.42% 130.47% -58.77% 148.16% -67.91% 212.68% 7.61% -4.45% 31.63% 8.50% 48.67%
EBIT Q/Q Growth		 -60.93% 239.48% -73.68% 289.39% -87.84% 732.56% 11.13% -5.29% 37.68% 10.43% 55.10%
NOPAT Q/Q Growth		 -50.38% 177.73% -73.16% 298.03% -94.30% 1,561.07% 15.10% -7.10% 47.94% 7.69% 54.49%
Net Income Q/Q Growth		 -50.38% 177.73% -73.16% 298.03% -94.30% 1,561.07% 15.10% -7.10% 47.94% 7.69% 54.49%
EPS Q/Q Growth		 -16.22% 80.65% -71.43% 293.75% -88.89% 742.86% 20.34% -9.86% 60.94% 4.85% 52.78%
Operating Cash Flow Q/Q Growth		 78.81% -135.64% 182.22% 39.41% 104.67% -213.60% 224.13% -77.16% 249.22% -96.18% 319.44%
Free Cash Flow Firm Q/Q Growth		 -94.11% 83.50% -193.61% -1,191.51% 77.27% 88.69% 150.58% 1,483.55% -117.25% -572.58% -37.93%
Invested Capital Q/Q Growth		 0.00% 8.74% 13.82% 30.80% -15.72% -15.80% 7.97% 5.76% 10.79% 7.69% 16.31%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 14.63% 27.05% 13.65% 27.25% 10.28% 26.80% 26.76% 25.07% 27.95% 30.20% 37.64%
EBIT Margin		 7.98% 21.72% 7.00% 21.92% 3.13% 21.75% 22.42% 20.82% 24.28% 26.70% 34.72%
Profit (Net Income) Margin		 7.96% 17.74% 5.83% 18.66% 1.25% 17.32% 18.49% 16.84% 21.11% 22.63% 29.31%
Tax Burden Percent		 99.85% 81.69% 83.30% 85.15% 39.90% 79.61% 82.45% 80.88% 86.91% 84.76% 84.43%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.15% 18.31% 16.70% 14.85% 60.10% 20.39% 17.55% 19.12% 13.09% 15.24% 15.57%
Return on Invested Capital (ROIC)		 3.34% 6.49% 1.99% 9.52% 0.44% 6.57% 6.84% 5.43% 7.89% 9.38% 11.85%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.34% 6.49% 1.99% 9.52% 0.44% 6.57% 6.84% 5.43% 7.89% 9.38% 11.85%
Return on Net Nonoperating Assets (RNNOA)		 7.37% 17.82% 5.75% 46.19% 1.43% 19.64% 24.19% 24.21% 34.09% 37.19% 52.83%
Return on Equity (ROE)		 10.71% 24.31% 7.74% 55.72% 1.88% 26.21% 31.03% 29.64% 41.98% 46.57% 64.68%
Cash Return on Invested Capital (CROIC)		 14.58% 15.86% -6.96% -193.28% -26.73% -1.15% 5.16% 25.52% 0.63% -22.40% -28.59%
Operating Return on Assets (OROA)		 1.80% 4.07% 1.23% 5.61% 0.57% 4.09% 4.11% 3.35% 4.68% 5.41% 7.06%
Return on Assets (ROA)		 1.80% 3.32% 1.03% 4.78% 0.23% 3.25% 3.39% 2.71% 4.07% 4.58% 5.96%
Return on Common Equity (ROCE)		 8.81% 19.58% 6.28% 46.67% 1.56% 21.57% 26.09% 25.27% 35.66% 39.33% 55.73%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 28.99% 20.32% 23.46% 0.00% 21.88% 29.55% 29.63% 0.00% 46.79% 55.26%
Net Operating Profit after Tax (NOPAT)		 40 110 30 118 6.70 111 128 119 176 190 293
NOPAT Margin		 7.96% 17.74% 5.83% 18.66% 1.25% 17.32% 18.49% 16.84% 21.11% 22.63% 29.31%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 28.26% 25.83% 30.09% 24.48% 29.43% 24.73% 23.82% 23.66% 21.57% 21.38% 19.77%
Operating Expenses to Revenue		 92.03% 78.28% 93.00% 78.08% 96.87% 78.25% 77.58% 79.18% 75.72% 73.30% 65.28%
Earnings before Interest and Taxes (EBIT)		 40 135 35 138 17 140 155 147 203 224 347
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 73 168 69 172 55 172 185 177 233 253 376
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.39 2.27 2.09 2.13 2.58 2.67 2.87 3.85 4.40 4.51 4.91
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86.39
Price to Revenue (P/Rev)		 1.36 1.29 1.22 1.19 1.35 1.40 1.41 1.84 1.92 1.92 2.04
Price to Earnings (P/E)		 12.10 14.04 18.79 16.39 21.85 23.09 18.59 25.27 19.96 18.44 17.06
Dividend Yield		 5.15% 5.42% 5.91% 5.82% 4.92% 4.73% 4.28% 3.15% 2.69% 2.52% 2.14%
Earnings Yield		 8.26% 7.12% 5.32% 6.10% 4.58% 4.33% 5.38% 3.96% 5.01% 5.42% 5.86%
Enterprise Value to Invested Capital (EV/IC)		 1.15 1.14 1.10 1.08 1.14 1.25 1.23 1.39 1.42 1.45 1.47
Enterprise Value to Revenue (EV/Rev)		 2.66 2.97 3.39 4.23 3.70 3.40 3.34 3.85 3.92 4.03 4.34
Enterprise Value to EBITDA (EV/EBITDA)		 9.05 11.60 16.62 19.81 18.31 16.79 14.29 16.85 14.69 14.57 14.09
Enterprise Value to EBIT (EV/EBIT)		 11.29 15.07 23.78 27.40 26.12 23.82 18.56 21.65 17.49 16.97 15.91
Enterprise Value to NOPAT (EV/NOPAT)		 13.43 17.91 28.58 32.12 32.18 29.66 22.97 27.22 21.11 20.18 18.83
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.90 8.33 11.89 17.03 17.27 32.13 13.61 17.89 18.84 12.25 25.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.65 6.85 0.00 0.00 0.00 0.00 23.94 4.87 231.46 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.31 2.63 3.35 4.85 4.30 3.40 3.74 4.05 4.33 4.47 5.08
Long-Term Debt to Equity		 1.73 1.72 1.99 2.14 2.18 2.36 2.31 2.71 2.81 2.93 2.98
Financial Leverage		 2.21 2.74 2.89 4.85 3.22 2.99 3.54 4.46 4.32 3.96 4.46
Leverage Ratio		 5.95 7.31 7.53 11.66 8.19 8.06 9.16 10.93 10.31 10.16 10.85
Compound Leverage Factor		 5.95 7.31 7.53 11.66 8.19 8.06 9.16 10.93 10.31 10.16 10.85
Debt to Total Capital		 69.75% 72.45% 77.03% 82.91% 81.13% 77.30% 78.90% 80.18% 81.25% 81.72% 83.57%
Short-Term Debt to Total Capital		 17.43% 25.18% 31.37% 46.26% 40.10% 23.61% 30.24% 26.42% 28.67% 28.26% 34.65%
Long-Term Debt to Total Capital		 52.32% 47.27% 45.66% 36.64% 41.03% 53.68% 48.67% 53.77% 52.58% 53.46% 48.92%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 5.67% 5.55% 4.10% 2.78% 2.72% 3.39% 2.92% 2.61% 2.94% 2.95% 2.27%
Common Equity to Total Capital		 24.58% 21.99% 18.87% 14.32% 16.15% 19.32% 18.18% 17.21% 15.81% 15.33% 14.16%
Debt to EBITDA		 5.48 7.36 11.68 15.22 13.03 10.35 9.14 9.73 8.39 8.23 7.99
Net Debt to EBITDA		 3.99 5.98 10.01 13.71 11.19 9.44 7.92 8.48 7.20 7.32 7.23
Long-Term Debt to EBITDA		 4.11 4.80 6.92 6.73 6.59 7.19 5.64 6.53 5.43 5.38 4.68
Debt to NOPAT		 8.13 11.36 20.09 24.68 22.90 18.29 14.69 15.73 12.06 11.39 10.68
Net Debt to NOPAT		 5.91 9.23 17.21 22.24 19.66 16.67 12.72 13.71 10.35 10.14 9.66
Long-Term Debt to NOPAT		 6.10 7.42 11.91 10.91 11.58 12.70 9.06 10.55 7.81 7.45 6.25
Noncontrolling Interest Sharing Ratio		 17.75% 19.48% 18.81% 16.24% 16.75% 17.72% 15.94% 14.75% 15.07% 15.54% 13.84%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 393 721 -675 -8,721 -1,983 -224 113 1,795 -310 -2,083 -2,873
Operating Cash Flow to CapEx		 2,737.10% -430.93% 881.30% 2,132.07% 1,751.29% -1,509.33% 5,343.73% 955.51% 5,438.76% 50.46% 567.75%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.23 0.19 0.18 0.26 0.18 0.19 0.18 0.16 0.19 0.20 0.20
Fixed Asset Turnover		 27.06 24.90 24.05 0.00 24.72 24.27 26.22 27.72 30.00 32.29 36.03
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,460 5,937 6,757 8,838 7,449 6,272 6,772 7,162 7,935 8,545 9,938
Invested Capital Turnover		 0.42 0.37 0.34 0.51 0.36 0.38 0.37 0.32 0.37 0.41 0.40
Increase / (Decrease) in Invested Capital		 -353 -611 705 8,838 1,989 335 15 -1,676 486 2,273 3,166
Enterprise Value (EV)		 6,288 6,780 7,407 9,536 8,494 7,863 8,353 9,939 11,283 12,369 14,648
Market Capitalization		 3,208 2,958 2,671 2,689 3,103 3,232 3,529 4,748 5,517 5,905 6,907
Book Value per Share		 $12.90 $7.83 $7.76 $7.76 $7.56 $13.62 $7.83 $7.91 $8.11 $8.46 $9.13
Tangible Book Value per Share		 ($1.24) ($0.89) ($0.99) ($0.96) ($1.28) ($2.02) ($0.92) ($0.84) ($0.63) ($0.19) $0.52
Total Capital		 5,460 5,937 6,757 8,838 7,449 6,272 6,772 7,162 7,935 8,545 9,938
Total Debt		 3,808 4,301 5,205 7,328 6,044 4,848 5,343 5,743 6,447 6,983 8,305
Total Long-Term Debt		 2,856 2,807 3,085 3,239 3,057 3,367 3,296 3,851 4,172 4,568 4,862
Net Debt		 2,770 3,492 4,459 6,601 5,188 4,419 4,627 5,004 5,533 6,212 7,515
Capital Expenditures (CapEx)		 15 34 14 7.98 20 26 9.19 12 7.20 30 11
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 3,808 4,301 5,205 7,328 6,044 4,848 5,343 5,743 6,447 6,983 8,305
Total Depreciation and Amortization (D&A)		 33 33 34 34 38 32 30 30 31 29 29
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.30 $0.56 $0.16 $0.63 $0.07 $0.59 $0.71 $0.65 $1.03 $1.09 $1.65
Adjusted Weighted Average Basic Shares Outstanding		 104.00M 97.80M 94.97M 93.41M 94.08M 89.00M 88.14M 87.15M 87.48M 85.68M 85.49M
Adjusted Diluted Earnings per Share		 $0.31 $0.56 $0.16 $0.63 $0.07 $0.59 $0.71 $0.64 $1.03 $1.08 $1.65
Adjusted Weighted Average Diluted Shares Outstanding		 104.42M 97.81M 94.97M 93.41M 94.08M 89.00M 88.36M 87.54M 87.82M 86.05M 85.53M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 166.83M 164.37M 162.96M 159.18M 158.11M 157.19M 155.86M 154.62M 154.91M 154.20M 152.86M
Normalized Net Operating Profit after Tax (NOPAT)		 65 130 50 139 29 130 147 139 199 215 320
Normalized NOPAT Margin		 13.00% 20.94% 9.91% 22.09% 5.43% 20.19% 21.28% 19.64% 23.88% 25.66% 32.06%
Pre Tax Income Margin		 7.98% 21.72% 7.00% 21.92% 3.13% 21.75% 22.42% 20.82% 24.28% 26.70% 34.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 80.13% 79.65% 112.74% 104.78% 116.00% 121.34% 88.30% 82.75% 56.01% 53.28% 50.55%
Augmented Payout Ratio		 184.50% 150.64% 214.19% 182.41% 203.36% 192.53% 137.28% 131.81% 91.77% 90.77% 84.93%

Key Financial Trends

Virtu Financial (NASDAQ: VIRT) has shown notable financial performance improvements over the recent quarters and years, reflected in its income statements, cash flow statements, and balance sheets. Below is a summary of key trends and highlights from the latest four years through Q2 2025, focusing on the most relevant data for retail investors.

  • Strong Revenue Growth: Total revenue for Q2 2025 reached approximately $1.0 billion, up significantly from around $506 million in Q2 2023 and $498 million in Q4 2022, driven by increasing non-interest income, especially realized and unrealized capital gains which surged to $653 million in Q2 2025 from $307 million in Q2 2023.
  • Net Income Growth: Consolidated net income rose to about $293 million in Q2 2025, up from $30 million in Q2 2023 and $40 million in Q1 2023, indicating substantial profitability improvement. EPS also grew from $0.16 in Q2 2023 to $1.65 in Q2 2025, signaling strong earnings growth per share.
  • Increase in Operating Cash Flow: Net cash from operating activities improved to $62.8 million in Q2 2025 compared to $121 million in Q2 2024 and negative in Q1 2024 (-$395 million), reflecting better cash generation capacity.
  • Balance Sheet Expansion: Total assets increased from about $13.4 billion in Q2 2023 to $19.3 billion in Q2 2025, driven by larger trading account securities, which grew from approximately $8.9 billion to $14.7 billion, showing expanded market activity and investment scale.
  • Controlled Operating Expenses Growth: Though total non-interest expenses increased, they remained proportionate to rising revenues, with salaries and employee benefits growing in line with business needs ($136 million in Q2 2025 versus $107 million in Q3 2024).
  • Significant Dividend Payments: Virtu Financial consistently paid dividends each quarter, with payments increasing from around $52 million in early 2023 to about $160 million in Q2 2025, which may appeal to income-focused investors but reduces cash reserves.
  • Repurchase of Common Equity: The company repurchased common equity steadily, with $68.6 million repurchased in Q2 2025, indicating management’s confidence but also a use of cash to support stock price rather than reinvestment.
  • Issuance and Repayment of Debt: The company has issued and repaid varying levels of debt, with net more debt issued in recent quarters (e.g., $139 million new debt issued in Q2 2025), maintaining leverage which can support growth but carries interest and refinancing risk.
  • Fluctuating Changes in Operating Assets and Liabilities: The net changes in operating assets and liabilities show high volatility (e.g., -$201 million in Q2 2025), which impacts operating cash flows and may reflect working capital management challenges.
  • Cash Interest Payment Levels: The company’s cash interest paid remains substantial, increasing from about $64 million in Q1 2023 to approximately $179 million in Q2 2025, representing a meaningful expense burden that can pressure net income if revenues falter.

Summary: Virtu Financial has demonstrated strong growth in revenues, earnings, and assets over the last several years, notably driven by their trading and investment activities that generate high non-interest income. The company maintains solid profitability and healthy cash flows, but investors should monitor high interest payments and cash outflows for dividends and equity repurchases that might limit flexibility. Overall, Virtu appears financially robust with continued expansion, but with some risks stemming from leverage and working capital dynamics.

08/08/25 07:45 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Virtu Financial's Financials

When does Virtu Financial's financial year end?

According to the most recent income statement we have on file, Virtu Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Virtu Financial's net income changed over the last 10 years?

Virtu Financial's net income appears to be on an upward trend, with a most recent value of $534.54 million in 2024, rising from $190.06 million in 2014. The previous period was $263.92 million in 2023. See where experts think Virtu Financial is headed by visiting Virtu Financial's forecast page.

How has Virtu Financial's revenue changed over the last 10 years?

Over the last 10 years, Virtu Financial's total revenue changed from $723.05 million in 2014 to $2.88 billion in 2024, a change of 297.9%.

How much debt does Virtu Financial have?

Virtu Financial's total liabilities were at $13.87 billion at the end of 2024, a 6.2% increase from 2023, and a 393.3% increase since 2014.

How much cash does Virtu Financial have?

In the past 10 years, Virtu Financial's cash and equivalents has ranged from $75.86 million in 2014 to $1.07 billion in 2021, and is currently $872.51 million as of their latest financial filing in 2024.

How has Virtu Financial's book value per share changed over the last 10 years?

Over the last 10 years, Virtu Financial's book value per share changed from 0.00 in 2014 to 8.11 in 2024, a change of 811.1%.


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This page (NASDAQ:VIRT) was last updated on 8/8/2025 by MarketBeat.com Staff
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