Virtu Financial, Inc. (VIRT) 10-Year Financial Performance & Capital Metrics

VIRT • • Banking & Credit

Financial ServicesCapital MarketsCapital Markets InfrastructureElectronic Trading Platforms

AboutVirtu Financial, Inc., a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company's solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities. Its analytics platform provides a range of pre- and post-trade services, data products, and compliance tools for clients to invest, trade, and manage risk across markets. Virtu Financial, Inc. was founded in 2008 and is headquartered in New York, New York.Show more

Net Interest Income -$656M
Total Revenue $2.88B +25.4%
Net Income $276M +94.6%
Return on Equity 19.11% +105.6%
Net Interest Margin -4.27%
Efficiency Ratio 15.63% -21.6%
ROA 1.85% +63.4%
Equity / Assets 9.68% -0.3%
Book Value per Share 16.94 +13.4%
Tangible BV/Share 1.54 +13393.2%
Debt/Equity 3.84 -22.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 9/9
✓Efficient operations: 15.6% efficiency ratio
✓Share count reduced 6.6% through buybacks
✓Diversified revenue: 101.0% from non-interest income

✗Weaknesses

✗High debt to equity ratio of 3.8x
✗Weak NIM of -4.3%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.81%

5Y13.65%

3Y0.77%

TTM-

Profit (Net Income) CAGR

10Y3.82%

5Y-

3Y-16.62%

TTM124.89%

EPS CAGR

10Y-6.73%

5Y-

3Y-8.76%

TTM132.16%

ROCE

10Y Avg10.56%

5Y Avg10.77%

3Y Avg9.47%

Latest10.06%

Peer Comparison

Electronic Trading Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TWTradeweb Markets Inc.	12.13B	104.11	44.49	28.97%	29.06%	9.08%	7.06%	0.01
BGCBGC Group, Inc	3.22B	8.95	35.80	11.45%	5.75%	14.52%	7.57%	1.37
MKTXMarketAxess Holdings Inc.	6.49B	174.66	23.99	8.58%	33.56%	15.79%	5.78%	0.05
DFINDonnelley Financial Solutions, Inc.	1.46B	55.18	18.03	-1.92%	11.82%	7.68%	7.18%	0.33
SNEXStoneX Group Inc.	5.53B	105.89	17.98	32.53%	0.23%	12.87%		7.68
MRXMarex Group plc Ordinary Shares	2.86B	39.94	14.68	23.06%	7.53%	31.07%	39.93%	6.28
VIRTVirtu Financial, Inc.	3.05B	35.88	12.08	25.45%	9.61%	24.84%	17.88%	3.84
HGBLHeritage Global Inc.	49.33M	1.42	10.14	-25.08%	11.42%	4.64%	15.42%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-81.68M	-84.88M	-156.1M	-213.61M	-279.9M	0	0	0	0	-656.46M
NII Growth %	-0.05%	-0.04%	-0.84%	-0.37%	-0.31%	1%	-	-	-	-
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	-29.48M
Interest Expense	81.68M	84.88M	156.1M	213.61M	279.9M	0	0	0	0	626.98M
Loan Loss Provision	238.82M	221.63M	278.31M	378.37M	490.7M	1.15B	1.12B	1.01B	902.4M	482.27M
Non-Interest Income+	796.21M	702.27M	1.03B	1.88B	1.52B	3.24B	2.81B	2.36B	2.29B	2.91B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	796.21M	702.27M	1.03B	1.88B	1.52B	3.24B	2.81B	2.36B	2.29B	2.88B
Revenue Growth %	0.1%	-0.12%	0.46%	0.83%	-0.19%	1.13%	-0.13%	-0.16%	-0.03%	0.25%
Non-Interest Expense	133.92M	124.27M	284.13M	330.17M	449.27M	2.09B	437.62M	436.79M	457M	449.74M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	341.8M	271.49M	309.44M	956.57M	297.62M	0	1.25B	917.91M	933.98M	1.32B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.19%	-0.21%	0.14%	2.09%	-0.69%	-1%	-	-0.27%	0.02%	0.41%
Pretax Income+	215.93M	179.59M	113.16M	696.36M	-115.98M	1.38B	996.9M	556.8M	325.13M	644.97M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	18.44M	21.25M	94.27M	76.17M	-12.28M	261.92M	169.67M	88.47M	61.21M	110.44M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	20.89M	32.98M	2.94M	289.44M	-58.59M	649.2M	476.88M	265.03M	142.04M	276.42M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.89%	0.58%	-0.91%	97.48%	-1.2%	12.08%	-0.27%	-0.44%	-0.46%	0.95%
Net Income (Continuing)	197.49M	158.34M	18.9M	620.19M	-103.7M	1.12B	827.23M	468.33M	263.92M	534.53M
EPS (Diluted)+	0.59	0.88	0.26	2.78	-0.53	5.16	3.91	2.44	1.42	2.97
EPS Growth %	-0.9%	0.49%	-0.7%	9.69%	-1.19%	10.74%	-0.24%	-0.38%	-0.42%	1.09%
EPS (Basic)	0.60	0.88	0.26	2.82	-0.53	5.19	3.95	2.45	1.42	2.98
Diluted Shares Outstanding	35.34M	38.54M	62.58M	102.09M	113.92M	122.33M	118.42M	104.42M	94.08M	87.82M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	163.24M	181.41M	532.89M	729.55M	732.16M	889.56M	1.07B	981.58M	820.44M	872.51M
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	1.77B	2.05B	4.18B	4.06B	4.84B	4.56B	5.73B	6.16B	10.59B	11.08B
Investments Growth %	-0.14%	0.16%	1.04%	-0.03%	0.19%	-0.06%	0.25%	0.08%	0.72%	0.05%
Long-Term Investments	1.77B	2.05B	4.18B	4.06B	4.84B	4.56B	5.73B	6.16B	10.59B	11.08B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	715.38M	715.38M	844.88M	836.58M	1.15B	1.15B	1.15B	1.15B	1.15B	1.15B
Intangible Assets	1.2M	992K	111.22M	83.99M	529.64M	454.5M	386.33M	321.48M	257.52M	203.19M
PP&E (Net)	37.5M	29.66M	137.02M	113.32M	430.62M	382.45M	314.92M	272.64M	329.86M	266.46M
Other Assets	38.84M	74.47M	357.35M	243.58M	252.64M	317.75M	291.31M	303.92M	303.72M	357.74M
Total Current Assets	639.77M	630.14M	1.56B	1.85B	2.2B	2.91B	2.29B	2.23B	1.7B	2.17B
Total Non-Current Assets	2.75B	3.06B	5.76B	5.53B	7.41B	7.06B	8.03B	8.35B	12.77B	13.19B
Total Assets+	3.39B	3.69B	7.32B	7.38B	9.61B	9.97B	10.32B	10.58B	14.47B	15.36B
Asset Growth %	0.02%	0.09%	0.98%	0.01%	0.3%	0.04%	0.04%	0.03%	0.37%	0.06%
Return on Assets (ROA)	0.01%	0.01%	0%	0.04%	-0.01%	0.07%	0.05%	0.03%	0.01%	0.02%
Accounts Payable	573.38M	765.26M	1.08B	862.42M	1.32B	1.49B	1.08B	769M	1.64B	1.52B
Total Debt+	1.06B	812.16M	2.56B	2.33B	4.3B	3.43B	3.6B	3.73B	6.93B	5.71B
Net Debt	899.96M	630.75M	2.03B	1.6B	3.57B	2.54B	2.53B	2.75B	6.11B	4.84B
Long-Term Debt	1.02B	787.16M	2.53B	2.32B	3.86B	3.05B	3.26B	3.48B	4.85B	5.44B
Short-Term Debt	45M	25M	27.88M	15.13M	73.49M	64.69M	61.51M	3.94M	1.8B	38.54M
Other Liabilities	979.09M	1.35B	2.38B	2.48B	2.5B	2.92B	3.51B	4.2B	6.07B	6.44B
Total Current Liabilities	836.78M	1.02B	1.25B	1.09B	1.66B	1.82B	1.41B	1.01B	1.86B	1.76B
Total Non-Current Liabilities	2B	2.14B	4.92B	4.79B	6.72B	6.29B	7.05B	7.92B	11.2B	12.11B
Total Liabilities	2.83B	3.16B	6.17B	5.89B	8.38B	8.11B	8.46B	8.93B	13.06B	13.87B
Total Equity+	557.87M	534.41M	1.15B	1.49B	1.23B	1.86B	1.86B	1.65B	1.41B	1.49B
Equity Growth %	1.63%	-0.04%	1.15%	0.3%	-0.18%	0.51%	0%	-0.11%	-0.15%	0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.06%	0%	0.22%	-0.04%	0.42%	0.26%	0.15%	0.09%	0.19%
Book Value per Share	15.79	13.87	18.40	14.64	10.79	15.16	15.74	15.81	14.94	16.94
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	1K	1K	2K	2K	2K	2K	2K	2K	2K	2K
Additional Paid-in Capital	130.9M	155.54M	900.75M	1.01B	1.08B	1.16B	1.22B	1.29B	1.35B	1.43B
Retained Earnings	3.52M	-1.25M	-62.13M	96.51M	-90.37M	422.38M	830.54M	972.32M	1B	1.17B
Accumulated OCI	99K	-252K	2.99M	-82K	-647K	-25.49M	-10.2M	31.6M	17.05M	-7.06M
Treasury Stock	-3.82M	-8.36M	-11.04M	-55.01M	-55.01M	-88.92M	-494.07M	-954.64M	-1.17B	-1.34B
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	260.28M	239.6M	290.57M	714.6M	168.77M	1.06B	1.17B	706.8M	491.78M	598.99M
Operating CF Growth %	-0.05%	-0.08%	0.21%	1.46%	-0.76%	5.29%	0.1%	-0.4%	-0.3%	0.22%
Net Income	20.89M	32.98M	2.94M	289.44M	-103.7M	1.12B	476.88M	265.03M	263.92M	534.53M
Depreciation & Amortization	33.84M	29.91M	62.77M	87.28M	136.24M	141M	137.48M	131.21M	127.27M	116.29M
Deferred Taxes	0	0	0	0	-18.69M	21.6M	0	0	19.07M	0
Other Non-Cash Items	221.82M	-193.4M	760.1M	-106.22M	95.86M	-17.27M	-1.09B	-415.65M	146K	12.75M
Working Capital Changes	-80.37M	344.52M	-563.06M	409.22M	-12.66M	-265.2M	1.59B	658.99M	17.44M	-140.06M
Cash from Investing+	-24.3M	-59.02M	-838.02M	329.17M	-899.64M	-2.56M	-87.35M	-29.53M	-94.48M	-61.85M
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	1000K	0	0	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-805.23M	0	-835.58M	60.59M	0	0	0	0
Other Investing	-8.03M	-47.16M	-13.86M	355.64M	-54.74M	-41.88M	-62.79M	-2.33M	-56.71M	-61.85M
Cash from Financing+	-144.35M	-161.24M	889.8M	-835.48M	769.58M	-839.92M	-957.86M	-735.75M	-585.03M	-469.56M
Dividends Paid	-147.36M	-37.76M	-63.81M	-100.33M	-211.63M	-484.42M	-548.02M	-375.28M	-306.14M	-299.4M
Share Repurchases	-291.87M	-24.02M	-13.83M	-75.38M	-16.45M	-49.86M	-430.91M	-488.8M	-230.58M	-191.14M
Stock Issued	335.15M	16.68M	735.97M	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	252.79M	-168.06M	-153.11M	-144.77M	-34.77M	-6.63M	-26.07M	-12.78M	28.63M	-32.45M
Net Change in Cash+	87.37M	18.18M	351.47M	203.16M	37.23M	233.72M	113.95M	-82.71M	-182.78M	58.53M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	75.86M	163.24M	181.41M	532.89M	736.05M	773.28M	1.01B	1.12B	1.04B	855.46M
Cash at End	163.24M	181.41M	532.89M	736.05M	773.28M	1.01B	1.12B	1.04B	855.46M	913.99M
Interest Paid	63.23M	54.87M	112.98M	139.41M	205.43M	173.65M	159.86M	246.99M	632.26M	586.28M
Income Taxes Paid	12.88M	16.18M	5.98M	93.99M	12.27M	248.53M	134.88M	103.97M	38.69M	43.42M
Free Cash Flow+	244.01M	227.74M	271.64M	688.13M	110.96M	1B	1.15B	679.6M	415.65M	544.68M
FCF Growth %	-0%	-0.07%	0.19%	1.53%	-0.84%	8.02%	0.15%	-0.41%	-0.39%	0.31%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.42%	6.04%	0.35%	21.88%	-4.3%	42.1%	25.65%	15.08%	9.29%	19.11%
Return on Assets (ROA)	0.62%	0.93%	0.05%	3.94%	-0.69%	6.63%	4.7%	2.54%	1.13%	1.85%
Net Interest Margin	-2.41%	-2.3%	-2.13%	-2.89%	-2.91%	0%	0%	0%	0%	-4.27%
Efficiency Ratio	16.82%	17.7%	27.64%	17.57%	29.61%	64.43%	15.57%	18.47%	19.93%	15.63%
Equity / Assets	16.45%	14.47%	15.73%	20.25%	12.79%	18.61%	18.06%	15.6%	9.71%	9.68%
Book Value / Share	15.79	13.87	18.4	14.64	10.79	15.16	15.74	15.81	14.94	16.94
NII Growth	-4.75%	-3.93%	-83.9%	-36.84%	-31.03%	100%	-	-	-	-
Dividend Payout	705.52%	114.49%	2171.28%	34.66%	-	74.62%	114.92%	141.6%	215.53%	167.17%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Other Sources	-	-	-	-	1.03B	2.64B	2.2B	1.83B	1.84B	2.36B
Other Sources Growth	-	-	-	-	-	155.81%	-16.74%	-16.48%	0.15%	28.43%
Commissions, Net	-	-	-	-	380.93M	458.15M	474.71M	398.27M	326.66M	382.59M
Commissions, Net Growth	-	-	-	-	-	20.27%	3.61%	-16.10%	-17.98%	17.12%
Workflow Technology	-	-	-	-	82.61M	101.21M	98.49M	91.67M	90.65M	95.83M
Workflow Technology Growth	-	-	-	-	-	22.52%	-2.69%	-6.92%	-1.11%	5.71%
Analytics	-	-	-	-	35.01M	41.15M	41.29M	39.91M	38.28M	38.37M
Analytics Growth	-	-	-	-	-	17.54%	0.35%	-3.35%	-4.07%	0.22%
Product and Service, Other	-	-	-	340.19M	-	-	-	-	-	-
Product and Service, Other Growth	-	-	-	-	-	-	-	-	-	-
Market Making	-	-	836.71M	-	-	-	-	-	-	-
Market Making Growth	-	-	-	-	-	-	-	-	-	-
Execution Services	-	-	99.14M	-	-	-	-	-	-	-
Execution Services Growth	-	-	-	-	-	-	-	-	-	-
Corporate	-	-	92.14M	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	1.64B	1.15B	2.57B	2.26B	1.91B	1.92B	2.36B
UNITED STATES Growth	-	-	-	-	-30.31%	124.16%	-12.00%	-15.33%	0.34%	23.00%
IRELAND	-	-	-	81.53M	188.15M	323.52M	305.51M	222.18M	206.51M	273.21M
IRELAND Growth	-	-	-	-	130.78%	71.94%	-5.57%	-27.28%	-7.05%	32.30%
Other Countries	-	-	281K	704K	3.2M	4.71M	5.71M	3.58M	166.12M	241.25M
Other Countries Growth	-	-	-	150.53%	354.40%	47.20%	21.28%	-37.23%	4533.70%	45.23%
SINGAPORE	-	-	-	136.16M	109.76M	176.66M	135.78M	134.79M	-	-
SINGAPORE Growth	-	-	-	-	-19.39%	60.95%	-23.14%	-0.73%	-	-
CANADA	-	-	-	-	49.67M	116.52M	61.38M	60.55M	-	-
CANADA Growth	-	-	-	-	-	134.61%	-47.32%	-1.35%	-	-
AUSTRALIA	-	-	-	-	34.93M	44.55M	40.61M	29.49M	-	-
AUSTRALIA Growth	-	-	-	-	-	27.54%	-8.84%	-27.39%	-	-
U	537.31M	455.42M	791.04M	-	-	-	-	-	-	-
U Growth	-	-15.24%	73.70%	-	-	-	-	-	-	-
S	91.82M	106.81M	113.89M	-	-	-	-	-	-	-
S Growth	-	16.33%	6.63%	-	-	-	-	-	-	-
I	166.74M	139.64M	97.64M	-	-	-	-	-	-	-
I Growth	-	-16.25%	-30.08%	-	-	-	-	-	-	-
G	-	-	21.14M	-	-	-	-	-	-	-
G Growth	-	-	-	-	-	-	-	-	-	-
C	325K	393K	-	-	-	-	-	-	-	-
C Growth	-	20.92%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Virtu Financial, Inc. (VIRT) has a price-to-earnings (P/E) ratio of 12.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Virtu Financial, Inc. (VIRT) grew revenue by 25.4% over the past year. This is strong growth.

Yes, Virtu Financial, Inc. (VIRT) is profitable, generating $422.6M in net income for fiscal year 2024 (9.6% net margin).

Dividend & Returns

Yes, Virtu Financial, Inc. (VIRT) pays a dividend with a yield of 14.66%. This makes it attractive for income-focused investors.

Virtu Financial, Inc. (VIRT) has a return on equity (ROE) of 19.1%. This is reasonable for most industries.

Industry Metrics

Virtu Financial, Inc. (VIRT) has a net interest margin (NIM) of -4.3%. NIM has been under pressure due to interest rate environment.

Virtu Financial, Inc. (VIRT) has an efficiency ratio of 15.6%. This is excellent, indicating strong cost control.

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