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Virtu Financial (VIRT) Financials

Virtu Financial logo
$52.14 +0.68 (+1.31%)
Closing price 06/5/2026 03:59 PM Eastern
Extended Trading
$51.46 -0.69 (-1.32%)
As of 06/5/2026 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 21 33 2.94 289 -59 649 477 265 142 276 468
Consolidated Net Income / (Loss)		 197 158 19 620 -104 1,121 827 468 264 535 912
Net Income / (Loss) Continuing Operations		 197 158 19 620 -104 1,121 827 468 264 535 912
Total Pre-Tax Income 		216 180 113 696 -116 1,383 997 557 325 645 1,094
Total Revenue		 796 703 1,024 1,855 1,451 3,239 2,811 2,365 2,293 2,877 3,632
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		 796 703 1,024 1,855 1,451 3,239 2,811 2,365 2,293 2,877 3,632
Service Charges on Deposit Accounts		 11 10 117 184 499 601 614 530 456 517 617
Other Service Charges		 - - 95 340 -2.15 83 16 47 74 76 70
Net Realized & Unrealized Capital Gains on Investments		 757 666 762 1,243 846 2,493 2,105 1,629 1,301 1,822 2,437
Other Non-Interest Income		 28 26 50 88 109 62 75 159 463 462 509
Total Non-Interest Expense		 580 523 911 1,159 1,567 1,856 1,815 1,808 1,968 2,232 2,538
Salaries and Employee Benefits		 132 87 178 216 384 394 376 391 394 435 528
Net Occupancy & Equipment Expense		 69 71 132 176 209 214 212 220 231 236 249
Property & Liability Insurance Claims		 - 0.00 25 11 26 2.94 0.84 1.12 0.31 0.31 0.41
Other Operating Expenses		 316 307 449 597 690 1,018 1,008 973 1,117 1,346 1,516
Depreciation Expense		 34 30 47 61 66 67 68 66 63 66 64
Amortization Expense		 0.21 0.21 15 26 71 74 70 65 64 50 47
Other Special Charges		 29 28 64 72 122 88 80 92 99 98 133
Income Tax Expense		 18 21 94 76 -12 262 170 88 61 110 182
Net Income / (Loss) Attributable to Noncontrolling Interest		 177 125 16 331 -45 472 350 203 122 258 444
Basic Earnings per Share		 $0.60 $0.83 $0.03 $2.82 ($0.53) $5.19 $3.95 $2.45 $1.42 $2.98 $5.14
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 85.22M
Diluted Earnings per Share		 $0.59 $0.83 $0.03 $2.78 ($0.53) $5.16 $3.91 $2.44 $1.42 $2.97 $5.13
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 85.32M
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 154.66M
Cash Dividends to Common per Share		 - - - - $0.24 $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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 62 5.54 56 67 60 94 100 151 78 140 182
Consolidated Net Income / (Loss)		 118 6.70 111 128 119 176 190 293 149 281 347
Net Income / (Loss) Continuing Operations		 118 6.70 111 128 119 176 190 293 149 281 347
Total Pre-Tax Income 		138 17 140 155 147 203 224 347 180 344 410
Total Revenue		 630 536 643 693 707 834 838 1,000 825 970 1,095
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		 630 536 643 693 707 834 838 1,000 825 970 1,095
Service Charges on Deposit Accounts		 110 114 119 126 132 140 151 154 154 157 187
Other Service Charges		 76 0.37 10 33 5.99 26 -12 65 14 3.70 -7.96
Net Realized & Unrealized Capital Gains on Investments		 316 267 408 426 444 544 590 653 529 665 789
Other Non-Interest Income		 128 155 106 107 125 124 109 128 127 144 128
Total Non-Interest Expense		 492 519 503 538 560 632 614 653 645 626 686
Salaries and Employee Benefits		 97 98 101 106 108 121 119 136 158 115 208
Net Occupancy & Equipment Expense		 57 60 58 59 60 59 60 61 63 65 67
Property & Liability Insurance Claims		 0.01 0.29 0.14 0.06 0.07 0.05 0.34 0.06 0.01 0.00 0.00
Other Operating Expenses		 281 304 290 321 340 396 377 395 364 380 347
Depreciation Expense		 16 16 16 16 16 17 16 16 15 17 16
Amortization Expense		 16 16 15 12 12 12 12 12 12 12 12
Other Special Charges		 25 25 23 23 24 27 30 33 33 37 35
Income Tax Expense		 21 10 29 27 28 27 34 54 31 63 63
Net Income / (Loss) Attributable to Noncontrolling Interest		 56 1.16 55 62 59 82 90 142 71 141 164
Basic Earnings per Share		 $0.63 $0.07 $0.59 $0.71 $0.65 $1.03 $1.09 $1.65 $0.86 $1.54 $1.99
Weighted Average Basic Shares Outstanding		 93.41M 94.08M 89.00M 88.14M 87.15M 87.48M 85.68M 85.49M 84.80M 85.22M 86.09M
Diluted Earnings per Share		 $0.63 $0.07 $0.59 $0.71 $0.64 $1.03 $1.08 $1.65 $0.86 $1.54 $1.99
Weighted Average Diluted Shares Outstanding		 93.41M 94.08M 89.00M 88.36M 87.54M 87.82M 86.05M 85.53M 84.80M 85.32M 86.09M
Weighted Average Basic & Diluted Shares Outstanding		 159.18M 158.11M 157.19M 155.86M 154.62M 154.91M 154.20M 152.86M 152.97M 154.66M 155.09M

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 87 18 342 208 37 234 114 -83 -183 59 212
Net Cash From Operating Activities		 260 240 291 715 169 1,061 1,172 707 492 599 518
Net Cash From Continuing Operating Activities		 260 240 291 715 169 1,061 1,172 707 492 599 518
Net Income / (Loss) Continuing Operations		 197 158 19 620 -104 1,121 827 468 264 535 912
Consolidated Net Income / (Loss)		 197 158 19 620 -104 1,121 827 468 264 535 912
Depreciation Expense		 34 30 47 61 66 67 68 66 63 66 64
Amortization Expense		 1.97 1.90 21 37 82 100 77 72 75 57 54
Non-Cash Adjustments to Reconcile Net Income		 73 29 -27 -269 403 -12 77 71 111 33 57
Changes in Operating Assets and Liabilities, net		 -46 21 231 266 -278 -215 123 29 -22 -92 -570
Net Cash From Investing Activities		 -24 -59 -838 329 -900 -2.56 -87 -30 -94 -62 -41
Net Cash From Continuing Investing Activities		 -24 -59 -838 329 -900 -2.56 -87 -30 -94 -62 -41
Purchase of Property, Leasehold Improvements and Equipment		 -24 -20 -33 -48 -58 -60 -60 -65 -76 -54 -63
Purchase of Investment Securities		 - -39 0.00 0.00 -842 -10 -27 35 -18 -7.53 -15
Divestitures		 - - 0.30 400 0.00 61 - - 0.00 0.00 38
Net Cash From Financing Activities		 -144 -161 890 -835 770 -840 -958 -736 -585 -470 -281
Net Cash From Continuing Financing Activities		 -144 -159 890 -835 770 -840 -958 -736 -585 -470 -281
Issuance of Debt		 45 76 1,122 0.00 1,532 -11 -2.02 1,741 -3.94 1,780 1,519
Repayment of Debt		 -3.89 -29 -794 -517 -536 -298 -39 -1,636 -77 -1,754 -1,255
Repurchase of Common Equity		 -290 -4.54 -14 -75 -16 -50 -431 -489 -231 -191 -190
Payment of Dividends		 -17 -38 -153 -100 -212 -484 -548 -375 -306 -299 -349
Other Financing Activities, Net		 -213 -180 -7.05 -143 0.93 3.15 62 23 33 -5.06 -5.31
Effect of Exchange Rate Changes		 -4.26 -1.17 - - -1.48 15 -12 -24 4.96 -9.05 16
Cash Interest Paid		 63 55 113 139 205 174 160 247 632 586 655
Cash Income Taxes Paid		 13 16 5.98 94 12 249 135 104 39 43 122

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -19 129 -426 287 22 176 -143 19 -34 371 -96
Net Cash From Operating Activities		 170 348 -395 491 112 391 15 63 -69 509 -0.15
Net Cash From Continuing Operating Activities		 170 348 -395 491 112 391 15 63 -69 509 -0.15
Net Income / (Loss) Continuing Operations		 118 6.70 111 128 119 176 190 293 149 281 347
Consolidated Net Income / (Loss)		 118 6.70 111 128 119 176 190 293 149 281 347
Depreciation Expense		 16 16 16 16 16 17 16 16 15 17 16
Amortization Expense		 18 22 16 14 14 13 13 14 14 14 14
Non-Cash Adjustments to Reconcile Net Income		 33 45 -13 20 -1.41 26 21 -58 -4.84 86 51
Changes in Operating Assets and Liabilities, net		 -14 258 -527 312 -36 158 -225 -202 -242 112 -427
Net Cash From Investing Activities		 -15 -24 -27 -8.97 -19 -6.19 -31 20 -26 -2.84 -36
Net Cash From Continuing Investing Activities		 -15 -24 -27 -8.97 -19 -6.19 -31 20 -26 -2.84 -36
Purchase of Property, Leasehold Improvements and Equipment		 -7.98 -20 -26 -9.19 -12 -7.20 -30 -11 -13 -9.41 -32
Purchase of Investment Securities		 -7.35 -4.15 -1.28 0.22 -7.48 1.01 -1.35 -7.25 -13 6.57 -4.43
Net Cash From Financing Activities		 -170 -200 0.36 -195 -78 -197 -132 -76 63 -137 -57
Net Cash From Continuing Financing Activities		 -170 -200 0.36 -195 -78 -197 -132 -76 63 -137 -57
Issuance of Debt		 -15 -100 140 1,677 55 -91 1,323 139 170 -113 145
Repayment of Debt		 0.07 -55 0.00 -1,750 -4.15 -0.03 -1,251 - -3.25 -0.94 -15
Repurchase of Common Equity		 -49 -46 -52 -31 -50 -58 -90 -69 -31 -0.47 -56
Payment of Dividends		 -106 -54 -68 -93 -87 -52 -95 -160 -72 -23 -114
Other Financing Activities, Net		 -0.06 56 -20 2.51 8.62 4.03 -18 13 - - -15
Effect of Exchange Rate Changes		 -4.01 4.79 -3.53 0.44 6.84 -13 4.74 13 -2.72 1.17 -3.42
Cash Interest Paid		 145 262 142 143 141 160 134 179 159 182 165
Cash Income Taxes Paid		 18 5.09 6.61 19 6.59 11 12 63 15 32 12

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 3,392 3,692 7,320 7,381 9,609 9,966 10,320 10,583 14,466 15,362 20,151
Cash and Due from Banks		 163 181 533 730 732 890 1,071 982 820 873 1,062
Restricted Cash		 - - - 6.50 41 117 49 57 35 41 65
Trading Account Securities		 468 220 1,471 1,415 2,072 1,448 5,726 6,155 10,593 11,081 14,732
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 81 106 150 162
Premises and Equipment, Net		 38 30 137 - 116 114 90 85 100 91 96
Goodwill		 715 715 845 837 1,149 1,149 1,149 1,149 1,149 1,149 1,149
Intangible Assets		 1.20 0.99 111 197 530 454 386 321 258 203 155
Other Assets		 2,006 2,545 4,223 4,185 4,866 5,579 1,702 1,753 1,405 1,773 2,731
Total Liabilities & Shareholders' Equity		 3,392 3,692 7,320 7,381 9,609 9,966 10,320 10,583 14,466 15,362 20,151
Total Liabilities		 2,834 3,158 6,168 5,886 8,380 8,111 8,456 8,932 13,061 13,874 18,177
Short-Term Debt		 532 721 1,135 875 1,331 1,521 1,202 952 2,987 2,275 2,459
Long-Term Debt		 1,018 787 2,143 2,037 3,518 2,588 2,747 2,856 3,057 4,172 5,517
Other Long-Term Liabilities		 1,284 1,650 2,890 2,974 3,532 4,002 4,507 5,124 7,017 7,427 10,201
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 558 534 1,152 1,495 1,229 1,855 1,864 1,651 1,405 1,487 1,973
Total Preferred & Common Equity		 131 146 831 1,052 931 1,469 1,549 1,342 1,203 1,254 1,582
Total Common Equity		 131 146 831 1,052 931 1,469 1,549 1,342 1,203 1,254 1,582
Common Stock		 131 156 901 1,010 1,077 1,161 1,223 1,293 1,352 1,432 1,542
Retained Earnings		 3.53 -1.25 -62 97 -90 422 831 972 1,000 1,169 1,519
Treasury Stock		 -3.82 -8.36 -11 -55 -55 -89 -494 -955 -1,166 -1,340 -1,476
Accumulated Other Comprehensive Income / (Loss)		 0.10 -0.25 2.99 -0.08 -0.65 -25 -10 32 17 -7.06 -3.01
Noncontrolling Interest		 427 389 321 443 298 386 314 310 203 233 391

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 Q3 2025 Q1 2026
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 9/30/2025 3/31/2026
Total Assets		 11,861 13,390 17,618 12,790 13,929 14,401 17,548 19,284 21,272 25,115
Cash and Due from Banks		 769 699 689 400 685 701 724 752 708 973
Restricted Cash		 40 47 38 30 32 37 47 38 48 57
Trading Account Securities		 7,610 8,911 12,939 8,733 10,042 10,196 12,654 14,667 15,307 17,703
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
Customer and Other Receivables		 109 131 148 119 125 170 189 360 192 298
Premises and Equipment, Net		 93 96 92 97 95 94 93 92 94 104
Goodwill		 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149
Intangible Assets		 305 289 273 243 227 215 190 178 167 143
Other Assets		 1,785 2,068 2,290 2,020 1,575 1,839 2,501 2,047 3,607 4,689
Total Liabilities & Shareholders' Equity		 11,861 13,390 17,618 12,790 13,929 14,401 17,548 19,284 21,272 25,115
Total Liabilities		 10,226 11,837 16,108 11,366 12,501 12,981 15,987 17,651 19,571 22,919
Short-Term Debt		 1,495 2,120 4,089 1,481 2,048 1,892 2,415 3,443 3,155 3,840
Long-Term Debt		 2,807 3,085 3,239 3,367 3,296 3,851 4,568 4,862 5,013 5,748
Other Long-Term Liabilities		 5,925 6,632 8,780 6,517 7,157 7,239 9,003 9,346 11,404 13,330
Commitments & Contingencies		 0.00 0.00 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 1,701 2,197
Total Preferred & Common Equity		 1,306 1,275 1,265 1,212 1,231 1,232 1,310 1,407 1,455 1,735
Total Common Equity		 1,306 1,275 1,265 1,212 1,231 1,232 1,310 1,407 1,455 1,735
Common Stock		 1,323 1,335 1,343 1,380 1,394 1,416 1,476 1,504 1,528 1,592
Retained Earnings		 988 980 1,018 1,018 1,062 1,098 1,227 1,356 1,402 1,624
Treasury Stock		 -1,030 -1,072 -1,121 -1,202 -1,233 -1,282 -1,388 -1,455 -1,476 -1,476
Accumulated Other Comprehensive Income / (Loss)		 25 31 24 16 8.71 0.96 -5.55 2.23 0.83 -4.98
Noncontrolling Interest		 330 277 245 212 198 187 252 226 246 462

Annual Metrics And Ratios for Virtu Financial

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.60 $0.83 $0.03 $2.82 ($0.53) $5.19 $3.95 $2.45 $1.42 $2.98 $5.14
Adjusted 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 85.22M
Adjusted Diluted Earnings per Share		 $0.59 $0.83 $0.03 $2.78 ($0.53) $5.16 $3.91 $2.44 $1.42 $2.97 $5.13
Adjusted 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 85.32M
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		 138.80M 139.36M 188.19M 189.89M 192.18M 192.41M 177.92M 166.83M 158.11M 154.91M 154.66M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Virtu Financial

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 154,664,573.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 154,664,573.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.24
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.32% 7.68% 3.62% 36.72% 12.16% 55.66% 30.34% 44.24% 16.69% - 30.73%
EBITDA Growth		 26.36% -24.31% 2.69% 167.99% 3.19% 323.23% 46.86% 102.89% 17.94% - 73.73%
EBIT Growth		 35.92% -57.69% 3.75% 338.11% 6.56% 1,106.41% 60.02% 123.33% 22.31% - 83.06%
NOPAT Growth		 47.22% -83.09% 1.11% 333.65% 1.22% 2,527.77% 70.37% 128.68% 25.23% - 82.77%
Net Income Growth		 47.22% -83.09% 1.11% 333.65% 1.22% 2,527.77% 70.37% 128.68% 25.23% - 82.77%
EPS Growth		 70.27% -77.42% 5.36% 343.75% 1.59% 1,371.43% 83.05% 132.39% 34.38% - 84.26%
Operating Cash Flow Growth		 -26.96% -16.39% -166.48% 302.32% -34.09% 12.47% 103.78% -87.21% -161.31% - -101.00%
Free Cash Flow Firm Growth		 -230.63% -604.31% -131.07% 116.79% 120.59% 84.38% -829.28% -2,634.18% -242.44% - -38.92%
Invested Capital Growth		 0.00% 36.44% 5.65% 0.22% -18.97% 6.52% 36.23% 46.75% 37.79% - 37.92%
Revenue Q/Q Growth		 24.33% -14.95% 19.94% 7.80% 2.00% 18.04% 0.43% 19.30% -17.49% - 12.93%
EBITDA Q/Q Growth		 148.16% -67.91% 212.68% 7.61% -4.45% 31.63% 8.50% 48.67% -44.45% - 17.29%
EBIT Q/Q Growth		 289.39% -87.84% 732.56% 11.13% -5.29% 37.68% 10.43% 55.10% -48.13% - 19.21%
NOPAT Q/Q Growth		 298.03% -94.30% 1,561.07% 15.10% -7.10% 47.94% 7.69% 54.49% -49.13% - 23.52%
Net Income Q/Q Growth		 298.03% -94.30% 1,561.07% 15.10% -7.10% 47.94% 7.69% 54.49% -49.13% - 23.52%
EPS Q/Q Growth		 293.75% -88.89% 742.86% 20.34% -9.86% 60.94% 4.85% 52.78% -47.88% - 29.22%
Operating Cash Flow Q/Q Growth		 39.41% 104.67% -213.60% 224.13% -77.16% 249.22% -96.18% 319.44% -209.50% - -100.03%
Free Cash Flow Firm Q/Q Growth		 -1,191.51% 77.27% 88.69% 150.58% 1,483.55% -117.25% -572.58% -37.93% 10.99% - -66.81%
Invested Capital Q/Q Growth		 30.80% -15.72% -15.80% 7.97% 5.76% 10.79% 7.69% 16.31% -0.70% - 18.44%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 27.25% 10.28% 26.80% 26.76% 25.07% 27.95% 30.20% 37.64% 25.34% - 40.13%
EBIT Margin		 21.92% 3.13% 21.75% 22.42% 20.82% 24.28% 26.70% 34.72% 21.82% - 37.39%
Profit (Net Income) Margin		 18.66% 1.25% 17.32% 18.49% 16.84% 21.11% 22.63% 29.31% 18.07% - 31.64%
Tax Burden Percent		 85.15% 39.90% 79.61% 82.45% 80.88% 86.91% 84.76% 84.43% 82.81% - 84.62%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 14.85% 60.10% 20.39% 17.55% 19.12% 13.09% 15.24% 15.57% 17.19% - 15.38%
Return on Invested Capital (ROIC)		 9.52% 0.44% 6.57% 6.84% 5.43% 7.89% 9.38% 11.85% 7.42% - 12.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.52% 0.44% 6.57% 6.84% 5.43% 7.89% 9.38% 11.85% 7.42% - 12.11%
Return on Net Nonoperating Assets (RNNOA)		 46.19% 1.43% 19.64% 24.19% 24.21% 34.09% 37.19% 52.83% 33.08% - 53.39%
Return on Equity (ROE)		 55.72% 1.88% 26.21% 31.03% 29.64% 41.98% 46.57% 64.68% 40.50% - 65.50%
Cash Return on Invested Capital (CROIC)		 -193.28% -26.73% -1.15% 5.16% 25.52% 0.63% -22.40% -28.59% -22.30% - -21.36%
Operating Return on Assets (OROA)		 5.61% 0.57% 4.09% 4.11% 3.35% 4.68% 5.41% 7.06% 4.28% - 6.82%
Return on Assets (ROA)		 4.78% 0.23% 3.25% 3.39% 2.71% 4.07% 4.58% 5.96% 3.54% - 5.77%
Return on Common Equity (ROCE)		 46.67% 1.56% 21.57% 26.09% 25.27% 35.66% 39.33% 55.73% 34.88% - 53.07%
Return on Equity Simple (ROE_SIMPLE)		 23.46% 0.00% 21.88% 29.55% 29.63% 0.00% 46.79% 55.26% 55.52% - 61.63%
Net Operating Profit after Tax (NOPAT)		 118 6.70 111 128 119 176 190 293 149 - 347
NOPAT Margin		 18.66% 1.25% 17.32% 18.49% 16.84% 21.11% 22.63% 29.31% 18.07% - 31.64%
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%
SG&A Expenses to Revenue		 24.48% 29.43% 24.73% 23.82% 23.66% 21.57% 21.38% 19.77% 26.73% - 25.13%
Operating Expenses to Revenue		 78.08% 96.87% 78.25% 77.58% 79.18% 75.72% 73.30% 65.28% 78.18% - 62.61%
Earnings before Interest and Taxes (EBIT)		 138 17 140 155 147 203 224 347 180 - 410
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 172 55 172 185 177 233 253 376 209 - 440
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.13 2.58 2.67 2.87 3.85 4.40 4.51 4.91 3.73 - 3.92
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86.39 38.96 - 15.36
Price to Revenue (P/Rev)		 1.19 1.35 1.40 1.41 1.84 1.92 1.92 2.04 1.55 - 1.75
Price to Earnings (P/E)		 16.39 21.85 23.09 18.59 25.27 19.96 18.44 17.06 12.84 - 12.35
Dividend Yield		 5.82% 4.92% 4.73% 4.28% 3.15% 2.69% 2.52% 2.14% 2.70% - 2.18%
Earnings Yield		 6.10% 4.58% 4.33% 5.38% 3.96% 5.01% 5.42% 5.86% 7.79% - 8.10%
Enterprise Value to Invested Capital (EV/IC)		 1.08 1.14 1.25 1.23 1.39 1.42 1.45 1.47 1.33 - 1.34
Enterprise Value to Revenue (EV/Rev)		 4.23 3.70 3.40 3.34 3.85 3.92 4.03 4.34 3.74 - 4.07
Enterprise Value to EBITDA (EV/EBITDA)		 19.81 18.31 16.79 14.29 16.85 14.69 14.57 14.09 12.21 - 11.30
Enterprise Value to EBIT (EV/EBIT)		 27.40 26.12 23.82 18.56 21.65 17.49 16.97 15.91 13.73 - 12.36
Enterprise Value to NOPAT (EV/NOPAT)		 32.12 32.18 29.66 22.97 27.22 21.11 20.18 18.83 16.20 - 14.80
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.03 17.27 32.13 13.61 17.89 18.84 12.25 25.20 32.67 - 31.44
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 23.94 4.87 231.46 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.85 4.30 3.40 3.74 4.05 4.33 4.47 5.08 4.80 - 4.37
Long-Term Debt to Equity		 2.14 2.18 2.36 2.31 2.71 2.81 2.93 2.98 2.95 - 2.62
Financial Leverage		 4.85 3.22 2.99 3.54 4.46 4.32 3.96 4.46 4.46 - 4.41
Leverage Ratio		 11.66 8.19 8.06 9.16 10.93 10.31 10.16 10.85 11.43 - 11.35
Compound Leverage Factor		 11.66 8.19 8.06 9.16 10.93 10.31 10.16 10.85 11.43 - 11.35
Debt to Total Capital		 82.91% 81.13% 77.30% 78.90% 80.18% 81.25% 81.72% 83.57% 82.77% - 81.36%
Short-Term Debt to Total Capital		 46.26% 40.10% 23.61% 30.24% 26.42% 28.67% 28.26% 34.65% 31.97% - 32.58%
Long-Term Debt to Total Capital		 36.64% 41.03% 53.68% 48.67% 53.77% 52.58% 53.46% 48.92% 50.80% - 48.78%
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%
Noncontrolling Interests to Total Capital		 2.78% 2.72% 3.39% 2.92% 2.61% 2.94% 2.95% 2.27% 2.49% - 3.92%
Common Equity to Total Capital		 14.32% 16.15% 19.32% 18.18% 17.21% 15.81% 15.33% 14.16% 14.74% - 14.72%
Debt to EBITDA		 15.22 13.03 10.35 9.14 9.73 8.39 8.23 7.99 7.62 - 6.85
Net Debt to EBITDA		 13.71 11.19 9.44 7.92 8.48 7.20 7.32 7.23 6.92 - 6.12
Long-Term Debt to EBITDA		 6.73 6.59 7.19 5.64 6.53 5.43 5.38 4.68 4.68 - 4.11
Debt to NOPAT		 24.68 22.90 18.29 14.69 15.73 12.06 11.39 10.68 10.11 - 8.97
Net Debt to NOPAT		 22.24 19.66 16.67 12.72 13.71 10.35 10.14 9.66 9.18 - 8.00
Long-Term Debt to NOPAT		 10.91 11.58 12.70 9.06 10.55 7.81 7.45 6.25 6.21 - 5.38
Noncontrolling Interest Sharing Ratio		 16.24% 16.75% 17.72% 15.94% 14.75% 15.07% 15.54% 13.84% 13.87% - 18.98%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8,721 -1,983 -224 113 1,795 -310 -2,083 -2,873 -2,557 - -2,894
Operating Cash Flow to CapEx		 2,132.07% 1,751.29% -1,509.33% 5,343.73% 955.51% 5,438.76% 50.46% 567.75% -513.77% - -0.47%
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
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
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
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.26 0.18 0.19 0.18 0.16 0.19 0.20 0.20 0.20 - 0.18
Fixed Asset Turnover		 0.00 24.72 24.27 26.22 27.72 30.00 32.29 36.03 37.14 - 39.60
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 8,838 7,449 6,272 6,772 7,162 7,935 8,545 9,938 9,868 - 11,785
Invested Capital Turnover		 0.51 0.36 0.38 0.37 0.32 0.37 0.41 0.40 0.41 - 0.38
Increase / (Decrease) in Invested Capital		 8,838 1,989 335 15 -1,676 486 2,273 3,166 2,706 - 3,240
Enterprise Value (EV)		 9,536 8,494 7,863 8,353 9,939 11,283 12,369 14,648 13,085 - 15,822
Market Capitalization		 2,689 3,103 3,232 3,529 4,748 5,517 5,905 6,907 5,427 - 6,802
Book Value per Share		 $7.76 $7.56 $13.62 $7.83 $7.91 $8.11 $8.46 $9.13 $9.52 - $11.22
Tangible Book Value per Share		 ($0.96) ($1.28) ($2.02) ($0.92) ($0.84) ($0.63) ($0.19) $0.52 $0.91 - $2.86
Total Capital		 8,838 7,449 6,272 6,772 7,162 7,935 8,545 9,938 9,868 - 11,785
Total Debt		 7,328 6,044 4,848 5,343 5,743 6,447 6,983 8,305 8,168 - 9,589
Total Long-Term Debt		 3,239 3,057 3,367 3,296 3,851 4,172 4,568 4,862 5,013 - 5,748
Net Debt		 6,601 5,188 4,419 4,627 5,004 5,533 6,212 7,515 7,412 - 8,558
Capital Expenditures (CapEx)		 7.98 20 26 9.19 12 7.20 30 11 13 - 32
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 7,328 6,044 4,848 5,343 5,743 6,447 6,983 8,305 8,168 - 9,589
Total Depreciation and Amortization (D&A)		 34 38 32 30 30 31 29 29 29 - 30
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.63 $0.07 $0.59 $0.71 $0.65 $1.03 $1.09 $1.65 $0.86 $1.54 $1.99
Adjusted Weighted Average Basic Shares Outstanding		 93.41M 94.08M 89.00M 88.14M 87.15M 87.48M 85.68M 85.49M 84.80M 85.22M 86.09M
Adjusted Diluted Earnings per Share		 $0.63 $0.07 $0.59 $0.71 $0.64 $1.03 $1.08 $1.65 $0.86 $1.54 $1.99
Adjusted Weighted Average Diluted Shares Outstanding		 93.41M 94.08M 89.00M 88.36M 87.54M 87.82M 86.05M 85.53M 84.80M 85.32M 86.09M
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		 159.18M 158.11M 157.19M 155.86M 154.62M 154.91M 154.20M 152.86M 152.97M 154.66M 155.09M
Normalized Net Operating Profit after Tax (NOPAT)		 139 29 130 147 139 199 215 320 177 - 376
Normalized NOPAT Margin		 22.09% 5.43% 20.19% 21.28% 19.64% 23.88% 25.66% 32.06% 21.41% - 34.33%
Pre Tax Income Margin		 21.92% 3.13% 21.75% 22.42% 20.82% 24.28% 26.70% 34.72% 21.82% - 37.39%
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
NOPAT to Interest Expense		 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
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
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 104.78% 116.00% 121.34% 88.30% 82.75% 56.01% 53.28% 50.55% 46.82% - 34.52%
Augmented Payout Ratio		 182.41% 203.36% 192.53% 137.28% 131.81% 91.77% 90.77% 84.93% 77.54% - 49.08%

Financials Breakdown Chart

Key Financial Trends

Virtu Financial’s latest quarter shows strong earnings, but the cash flow picture was much weaker than the income statement suggests. In Q1 2026, the company produced $1.10 billion of revenue and $346.6 million of net income, up from $969.9 million of revenue and $280.6 million of net income in Q4 2025. However, operating cash flow was essentially flat to slightly negative at $(149,000), versus $509.4 million in the prior quarter, largely because changes in operating assets and liabilities consumed $427.4 million of cash.

Over the last four years, Virtu has remained highly profitable, but its results are tied to volatile trading-related revenue. Revenue has moved sharply quarter to quarter, with total revenue ranging from about $497.8 million in Q4 2022 to $1.10 billion in Q1 2026. That variability reflects the firm’s dependence on capital gains and market activity, which can be a strength in active markets but also creates earnings volatility.

Bottom line: Virtu continues to generate solid accounting profits and remains well-capitalized, but investors should watch the deterioration in operating cash flow, the large debt load, and the company’s reliance on market-driven income streams.

  • Revenue and earnings improved sequentially in Q1 2026. Total revenue rose to $1.10 billion from $969.9 million in Q4 2025, while common shareholders’ net income increased to $182.3 million from $139.9 million.
  • Profitability remains strong on an accounting basis. Q1 2026 diluted EPS was $1.99, up from $1.54 in Q4 2025.
  • Liquidity improved. Cash and restricted cash rose to about $1.03 billion in Q1 2026, up from roughly $755 million in Q3 2025.
  • Book equity increased materially from a year earlier. Total equity and noncontrolling interests reached $2.20 billion in Q1 2026, versus $1.70 billion in Q3 2025 and $1.56 billion in Q1 2025.
  • Capital returns remain a meaningful use of cash. In Q1 2026, Virtu repurchased $55.8 million of stock and paid $114.5 million in dividends.
  • Debt is still a major part of the balance sheet. Q1 2026 short-term debt was $3.84 billion and long-term debt was $5.75 billion, for total debt of about $9.59 billion.
  • Operating results remain driven by market activity. Net realized and unrealized capital gains contributed $789.2 million of Q1 2026 non-interest income, highlighting the sensitivity of results to trading conditions.
  • Operating cash flow deteriorated sharply in Q1 2026. Net cash from operating activities fell to nearly breakeven, after $509.4 million in Q4 2025 and $62.8 million in Q2 2025.
  • Working capital consumed a large amount of cash. Changes in operating assets and liabilities used $427.4 million in Q1 2026, offsetting otherwise healthy net income and non-cash add-backs.
  • Interest and financing costs remain significant. Cash interest paid was $165.0 million in Q1 2026, and the company continued to rely on debt issuance and refinancing activity.

Longer-term trend: Compared with 2023 and 2024, Virtu’s quarterly revenue and net income have generally improved, especially through 2025 and into early 2026. Q1 2025 showed lower earnings and negative operating cash flow, but the company rebounded strongly in the following quarters. The key concern is that the business still relies heavily on trading-related gains, while leverage and capital returns keep pressure on cash generation.

06/07/26 05:01 PM ETAI Generated. May Contain Errors.

Virtu Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Virtu Financial's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Virtu Financial's net income appears to be on an upward trend, with a most recent value of $912.26 million in 2025, rising from $197.49 million in 2015. The previous period was $534.54 million in 2024. Find out what analysts predict for Virtu Financial in the coming months.

Over the last 10 years, Virtu Financial's total revenue changed from $796.21 million in 2015 to $3.63 billion in 2025, a change of 356.2%.

Virtu Financial's total liabilities were at $18.18 billion at the end of 2025, a 31.0% increase from 2024, and a 541.4% increase since 2015.

In the past 10 years, Virtu Financial's cash and equivalents has ranged from $163.24 million in 2015 to $1.07 billion in 2021, and is currently $1.06 billion as of their latest financial filing in 2025.


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Financial statements for NYSE:VIRT last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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