Virtus Investment Partners, Inc. (VRTS) 10-Year Financial Performance & Capital Metrics

VRTS • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementMulti-Affiliate Platform Managers

AboutVirtus Investment Partners, Inc. is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients. It invests in the public equity, fixed income, and real estate markets. The firm also invests in exchange traded funds. It employs a multi manager approach for its products. The firm employs quantitative analysis to make its investments. It benchmarks the performance of its portfolios against the S&P 500 Index. The firm conducts in-house research to make its investments. Virtus Investment Partners, Inc. was founded in 1988 and is based in Hartford, Connecticut.Show more

Net Interest Income $34M +8.0%
Total Revenue $903M +7.3%
Net Income $122M -6.8%
Return on Equity 12.28% -10.2%
Net Interest Margin 0.85% -0.6%
Efficiency Ratio 31.87% -6.0%
ROA 3.17% -7.3%
Equity / Assets 25.26% -4.5%
Book Value per Share 139.93 +6.0%
Tangible BV/Share 32.40 +66.0%
Debt/Equity 2.45 +5.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 31.9% efficiency ratio
✓Well capitalized: 25.3% equity/assets
✓Healthy dividend yield of 4.7%
✓Share count reduced 2.2% through buybacks
✓Diversified revenue: 75.9% from non-interest income
✓Trading at only 1.2x book value

✗Weaknesses

✗High debt to equity ratio of 2.5x
✗Weak NIM of 0.8%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.24%

5Y9.93%

3Y-2.52%

TTM-

Profit (Net Income) CAGR

10Y2.22%

5Y4.94%

3Y-16.37%

TTM33.04%

EPS CAGR

10Y4.86%

5Y7.55%

3Y-13.4%

TTM37.44%

ROCE

10Y Avg6.1%

5Y Avg5.71%

3Y Avg4.85%

Latest4.99%

Peer Comparison

Multi-Affiliate Platform Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PXP10, Inc.	828.29M	10.61	66.31	22.63%	6.31%	3.86%	11.66%	0.88
AMGAffiliated Managers Group, Inc.	9.06B	322.23	21.30	-0.82%	25.07%	11.7%	10.25%	0.56
VCTRVictory Capital Holdings, Inc.	4.36B	67.21	15.34	8.82%	32.33%	12.26%	7.76%	0.86
VRTSVirtus Investment Partners, Inc.	1.15B	170.27	10.08	7.29%	13.49%	14.22%		2.45
MGREAffiliated Managers Group, Inc.		24.34	1.61	-0.82%	25.07%	11.7%		0.56

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+	13.91M	10.17M	4.23M	19.12M	7.72M	13.68M	21.81M	18.37M	31.4M	33.9M
NII Growth %	0.65%	-0.27%	-0.58%	3.52%	-0.6%	0.77%	0.59%	-0.16%	0.71%	0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	14.92M	22.14M	51.48M	103.36M	119.2M	111.02M	91.44M	111.77M	210.16M	217.22M
Interest Expense	1.01M	11.97M	47.25M	84.23M	111.48M	97.33M	69.64M	93.41M	178.77M	183.32M
Loan Loss Provision	136.09M	123.67M	144.14M	154.27M	129.04M	169.97M	288.59M	277.85M	225.98M	249.26M
Non-Interest Income+	365.26M	299.6M	372.91M	448M	443.06M	492.21M	883.23M	769.95M	631.32M	685.6M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	380.18M	321.74M	424.39M	551.35M	562.26M	603.23M	974.67M	881.72M	841.49M	902.82M
Revenue Growth %	-0.15%	-0.15%	0.32%	0.3%	0.02%	0.07%	0.62%	-0.1%	-0.05%	0.07%
Non-Interest Expense	162.71M	135.29M	174.96M	199.75M	197.03M	191.61M	290.95M	313M	285.26M	287.74M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	80.38M	50.81M	58.03M	113.1M	124.71M	144.32M	325.49M	197.46M	151.48M	182.49M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.39%	-0.37%	0.14%	0.95%	0.1%	0.16%	1.26%	-0.39%	-0.23%	0.2%
Pretax Income+	67.64M	69.81M	80.43M	109.04M	140.69M	163.9M	353.67M	163.89M	186.56M	207.88M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	36.97M	21.04M	40.49M	32.96M	35.18M	43.94M	90.83M	57.26M	45.09M	55.42M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	35.11M	48.5M	37.01M	75.53M	95.65M	79.96M	208.13M	117.54M	130.62M	121.75M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.64%	0.38%	-0.24%	1.04%	0.27%	-0.16%	1.6%	-0.44%	0.11%	-0.07%
Net Income (Continuing)	30.67M	48.76M	39.94M	76.08M	105.51M	119.96M	262.83M	106.63M	141.48M	152.45M
EPS (Diluted)+	3.92	6.20	3.96	8.86	11.74	10.02	26.01	15.50	17.71	16.89
EPS Growth %	-0.63%	0.58%	-0.36%	1.24%	0.33%	-0.15%	1.6%	-0.4%	0.14%	-0.05%
EPS (Basic)	3.99	6.34	4.09	8.86	13.74	10.49	27.13	15.90	18.02	17.19
Diluted Shares Outstanding	8.96M	7.82M	7.25M	8.53M	8.15M	7.98M	8M	7.58M	7.38M	7.21M

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	97.38M	82.69M	233.47M	253.72M	321.47M	333.49M	585.54M	588.53M	340.33M	399.58M
Short Term Investments	1000K	1000K	0	0	0	0	0	0	0	0
Total Investments+	588.11M	581.68M	1.71B	1.83B	2.11B	2.4B	2.24B	2.28B	2.2B	2.37B
Investments Growth %	0.92%	-0.01%	1.93%	0.07%	0.16%	0.13%	-0.07%	0.02%	-0.03%	0.08%
Long-Term Investments	256.22M	436.34M	1.71B	1.83B	2.11B	2.4B	2.24B	2.28B	2.2B	2.37B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	6.7M	6.79M	170.15M	290.37M	290.37M	290.37M	338.41M	348.84M	397.1M	397.1M
Intangible Assets	40.89M	38.43M	301.95M	338.81M	310.39M	280.26M	500.57M	442.52M	432.12M	378.23M
PP&E (Net)	9.12M	7.73M	10.83M	20.15M	18.15M	14.49M	12.54M	19.12M	89.44M	127.17M
Other Assets	14.28M	22.68M	69.26M	45.26M	60.46M	49.72M	117.63M	150.54M	82.13M	176.5M
Total Current Assets	478.38M	264.89M	299.93M	324.7M	396.07M	424.35M	710.02M	688.45M	450.09M	517.52M
Total Non-Current Assets	381.35M	559.49M	2.29B	2.55B	2.81B	3.04B	3.22B	3.26B	3.23B	3.48B
Total Assets+	859.73M	824.39M	2.59B	2.87B	3.2B	3.47B	3.93B	3.95B	3.68B	3.99B
Asset Growth %	0.23%	-0.04%	2.14%	0.11%	0.12%	0.08%	0.13%	0%	-0.07%	0.09%
Return on Assets (ROA)	0.05%	0.06%	0.02%	0.03%	0.03%	0.02%	0.06%	0.03%	0.03%	0.03%
Accounts Payable	23.04M	25.18M	29.61M	27.93M	23.31M	25.36M	48.5M	33.2M	56.05M	49.49M
Total Debt+	152.6M	358.76M	1.71B	1.95B	2.11B	2.39B	2.3B	2.34B	2.25B	2.47B
Net Debt	55.21M	276.07M	1.47B	1.7B	1.79B	2.06B	1.71B	1.75B	1.91B	2.07B
Long-Term Debt	152.6M	328.76M	1.71B	1.62B	1.83B	2.39B	2.3B	2.34B	2.18B	2.4B
Short-Term Debt	0	30M	0	329.18M	277.84M	0	0	0	0	0
Other Liabilities	13.05M	13.51M	126.55M	20.01M	40.51M	158.63M	410.24M	398.03M	305.1M	303.94M
Total Current Liabilities	110.76M	123.18M	149.09M	528.92M	579.49M	80.2M	248.39M	279.91M	146.57M	207.53M
Total Non-Current Liabilities	165.65M	342.27M	1.83B	1.64B	1.88B	2.55B	2.71B	2.74B	2.56B	2.78B
Total Liabilities	276.41M	465.45M	1.98B	2.17B	2.45B	2.63B	2.96B	3.02B	2.71B	2.99B
Total Equity+	583.32M	358.94M	609.4M	701.35M	750.1M	836.45M	975.59M	936.65M	973.16M	1.01B
Equity Growth %	-0.01%	-0.38%	0.7%	0.15%	0.07%	0.12%	0.17%	-0.04%	0.04%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.06%	0.1%	0.08%	0.12%	0.13%	0.1%	0.23%	0.12%	0.14%	0.12%
Book Value per Share	65.10	45.89	84.09	82.25	92.05	104.87	121.90	123.54	131.95	139.93
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	96K	91K	105K	106K	107K	118K	119K	120K	122K	122K
Additional Paid-in Capital	1.14B	1.09B	1.22B	1.21B	1.2B	1.3B	1.28B	1.29B	1.3B	1.32B
Retained Earnings	-472.61M	-424.28M	-386.22M	-310.87M	-215.22M	-135.26M	60.96M	130.26M	207.36M	268.22M
Accumulated OCI	-1.03M	-224K	-600K	-731K	9K	29K	20K	-358K	-87K	-364K
Treasury Stock	-157.7M	-344.25M	-351.75M	-379.25M	-419.25M	-451.75M	-509.25M	-599.25M	-644.46M	-689.59M
Preferred Stock	0	0	110.84M	110.84M	110.84M	0	23K	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+	-209.43M	30.52M	-182.69M	-62.55M	-36.72M	-226.1M	665.73M	132.67M	237.16M	1.75M
Operating CF Growth %	-2.56%	1.15%	-6.99%	0.66%	0.41%	-5.16%	3.94%	-0.8%	0.79%	-0.99%
Net Income	30.67M	48.76M	39.94M	76.08M	105.51M	61.81M	262.83M	106.63M	141.48M	152.45M
Depreciation & Amortization	6.97M	5.8M	18.33M	33.43M	39.64M	38.85M	50.77M	64.22M	68.44M	69M
Deferred Taxes	6.36M	6.4M	22.84M	10.43M	5.98M	0	-9.66M	-1.96M	1.39M	7.12M
Other Non-Cash Items	-258.57M	-51.4M	-294.8M	-205.67M	-205.71M	-338.55M	293.85M	-57.24M	-13.33M	-243.26M
Working Capital Changes	-6.72M	9.02M	10.67M	80K	-4.37M	-9.7M	41.72M	-3.02M	12.35M	-16.41M
Cash from Investing+	-6.44M	3.08M	-416.99M	-121.23M	4.45M	8.68M	-175.03M	-27.47M	-129.73M	-16.95M
Purchase of Investments	-227K	-145K	-21.43M	-20.19M	-1.02B	0	-1.17B	-948.34M	0	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	89K	6.15M	-393.45M	-127M	1.02B	0	-155.64M	-20.58M	-120.64M	0
Other Investing	-3.09M	-407.13M	-616.17M	-113K	9.98M	9.72M	-299.53M	127.53M	-267K	-11.37M
Cash from Financing+	109.95M	-48.3M	750.46M	204.16M	99.56M	235.33M	-244.4M	-102.06M	-356.11M	74.95M
Dividends Paid	-16.05M	-13.77M	-18.83M	-22.38M	-25.32M	-24.88M	-31.41M	-47.25M	-52.05M	-58.12M
Share Repurchases	-80M	-233.76M	-7.5M	-27.5M	-40M	-32.5M	-57.5M	-90M	-45M	-44.87M
Stock Issued	0	0	109.49M	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	52.27M	9.11M	-40.58M	-15.09M	816K	-13.71M	-29.75M	-66.48M	-55.66M	-32.11M
Net Change in Cash+	-105.92M	-14.7M	150.78M	20.37M	67.28M	17.91M	246.3M	3.03M	-248.16M	59.3M
Exchange Rate Effect	0	0	0	0	0	0	0	-112K	523K	-456K
Cash at Beginning	203.3M	97.38M	82.69M	234.28M	254.66M	321.94M	339.85M	586.14M	589.18M	341.01M
Cash at End	97.38M	82.69M	233.47M	254.66M	321.94M	339.85M	586.14M	589.18M	341.01M	400.31M
Interest Paid	266K	420K	8.15M	11.85M	18.07M	8.86M	6.48M	11.13M	22.31M	20.26M
Income Taxes Paid	31.85M	16.71M	12.15M	23.8M	29.06M	35.39M	95.41M	74.31M	31.16M	56.38M
Free Cash Flow+	-214.11M	28.5M	-184.2M	-74.27M	-44.28M	-227.15M	659.89M	126.09M	228.34M	-3.82M
FCF Growth %	-2.49%	1.13%	-7.46%	0.6%	0.4%	-4.13%	3.91%	-0.81%	0.81%	-1.02%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6%	10.29%	7.64%	11.52%	13.18%	10.08%	22.97%	12.29%	13.68%	12.28%
Return on Assets (ROA)	4.51%	5.76%	2.17%	2.77%	3.15%	2.4%	5.62%	2.98%	3.42%	3.17%
Net Interest Margin	1.62%	1.23%	0.16%	0.67%	0.24%	0.39%	0.55%	0.46%	0.85%	0.85%
Efficiency Ratio	42.8%	42.05%	41.23%	36.23%	35.04%	31.76%	29.85%	35.5%	33.9%	31.87%
Equity / Assets	67.85%	43.54%	23.52%	24.43%	23.41%	24.13%	24.8%	23.7%	26.45%	25.26%
Book Value / Share	65.1	45.89	84.09	82.25	92.05	104.87	121.9	123.54	131.95	139.93
NII Growth	64.93%	-26.88%	-58.39%	351.74%	-59.62%	77.21%	59.35%	-15.78%	70.96%	7.95%
Dividend Payout	45.71%	28.4%	33.99%	18.59%	17.75%	28.52%	15.09%	40.2%	39.85%	47.74%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Investment Management Fees	-	461.48M	505.34M	781.59M	728.34M	711.48M	773.83M
Investment Management Fees Growth	-	-	9.50%	54.67%	-6.81%	-2.32%	8.76%
Open End Funds	-	229.64M	247.52M	393.67M	335.58M	305.24M	317.99M
Open End Funds Growth	-	-	7.79%	59.05%	-14.76%	-9.04%	4.18%
Retail Separate Accounts	-	83M	104.93M	174.92M	171.51M	171.36M	209.47M
Retail Separate Accounts Growth	-	-	26.43%	66.70%	-1.95%	-0.09%	22.24%
Institutional Accounts	-	96.43M	109.53M	143.49M	157.4M	176.74M	187.19M
Institutional Accounts Growth	-	-	13.59%	31.00%	9.70%	12.29%	5.91%
Closed End Funds	41.45M	42.2M	36.83M	63.3M	63.84M	58.14M	59.18M
Closed End Funds Growth	-	1.79%	-12.72%	71.86%	0.85%	-8.94%	1.80%
Structured Products	-	6.38M	4.01M	4.73M	-	-	-
Structured Products Growth	-	-	-37.13%	17.80%	-	-	-
Other Products	-	3.83M	2.51M	1.48M	-	-	-
Other Products Growth	-	-	-34.47%	-41.10%	-	-	-
Administration And Shareholder Service Fees	63.61M	59.88M	59.46M	-	-	-	-
Administration And Shareholder Service Fees Growth	-	-5.86%	-0.70%	-	-	-	-
Distribution And Service Fees	-	40.9M	38.42M	-	-	-	-
Distribution And Service Fees Growth	-	-	-6.05%	-	-	-	-
Other Income And fees	-	987K	670K	-	-	-	-
Other Income And fees Growth	-	-	-32.12%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Virtus Investment Partners, Inc. (VRTS) has a price-to-earnings (P/E) ratio of 10.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Virtus Investment Partners, Inc. (VRTS) grew revenue by 7.3% over the past year. This is steady growth.

Yes, Virtus Investment Partners, Inc. (VRTS) is profitable, generating $145.3M in net income for fiscal year 2024 (13.5% net margin).

Dividend & Returns

Yes, Virtus Investment Partners, Inc. (VRTS) pays a dividend with a yield of 4.73%. This makes it attractive for income-focused investors.

Virtus Investment Partners, Inc. (VRTS) has a return on equity (ROE) of 12.3%. This is reasonable for most industries.

Industry Metrics

Virtus Investment Partners, Inc. (VRTS) has a net interest margin (NIM) of 0.8%. NIM has been under pressure due to interest rate environment.

Virtus Investment Partners, Inc. (VRTS) has an efficiency ratio of 31.9%. This is excellent, indicating strong cost control.

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