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Virtu Financial, Inc. operates as a financial services company in the United States, Ireland, and internationally. It operates in two segments, Market Making and Execution Services. The company is involved in buying and selling securities to broker dealers, banks and institutions; trading direct to clients, exchanges, alternative trading systems, and other market centers; cash trading business; and pre- and post-trade services, data products, and compliance tools. It also provides agency execution services and trading venues for transparent trading in global equities, ETFs, fixed income, currencies, and commodities to institutions, banks, and broker dealers; agency-based and execution-only trading; workflow technology; trading analytics; foreign exchange, futures, and cryptocurrency products. The company was founded in 2008 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.6B | $2.0B | $468M | $455M | 29.6% | 26.2% | 69.4% |
| 2024 | $2.9B | $1.4B | $276M | $545M | 22.0% | 25.4% | 94.6% |
| 2023 | $2.3B | $1.1B | $142M | $416M | 11.8% | -3.0% | -46.4% |
| 2022 | $2.4B | $1.0B | $265M | $642M | 19.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,364.81 | 2,293.37 | 2,876.95 | 3,632.12 |
| Cost Of Revenue | 1,010.12 | 902.40 | 1,109.25 | 1,297.86 |
| Gross Profit | 1,354.70 | 1,390.98 | 1,767.70 | 2,334.26 |
| Operating Expense | 436.79 | 457 | 449.74 | 458.68 |
| Operating Income | 917.91 | 933.98 | 1,317.96 | 1,875.58 |
| EBITDA | 1,011.11 | 1,052.16 | 1,388.24 | 1,986.19 |
| EBIT | 879.89 | 924.89 | 1,271.95 | 1,874.64 |
| Pretax Income | 556.80 | 325.13 | 644.97 | 1,094.33 |
| Tax Provision | 88.47 | 61.21 | 110.44 | 182.06 |
| Net Income | 265.03 | 142.04 | 276.42 | 468.36 |
| Net Income Common Stockholders | 255.22 | 133.88 | 260.39 | 437.76 |
| Total Expenses | 1,446.90 | 1,359.40 | 1,558.98 | 1,756.54 |
| Interest Expense | 323.10 | 599.76 | 626.98 | 780.31 |
| Selling General And Administration | 219.50 | 230.76 | 236.45 | 249.21 |
| Normalized EBITDA | 1,019.21 | 1,052.93 | 1,404.77 | 1,980.62 |
| Normalized Income | 271.84 | 142.66 | 290.12 | 463.72 |
| Market Cap | 4,202.83 | 4,202.83 | 4,202.83 | 4,202.83 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Virtu Financial, Inc.this co. | VIRT | $4.4B | 8.97↓ discount | 2.66 | 29.6% | 6.10 |
| Radian Group Inc. | RDN | $5.0B | 8.33 | 1.01 | 12.2% | - |
| ServisFirst Bancshares, Inc. | SFBS | $4.3B | 15.65 | 2.34 | 15.0% | - |
| United Community Banks, Inc. | UCB | $4.1B | 12.07 | 1.09 | 9.0% | - |
| Assured Guaranty Ltd. | AGO | $4.0B |
| 7.44 |
| 0.66 |
| 8.9% |
| - |
| Bread Financial Holdings, Inc. | BFH | $4.0B | 6.87 | 1.07 | 15.6% | - |
| Fulton Financial Corporation | FULT | $4.0B | 10.53 | 1.25 | 11.9% | - |
| PJT Partners Inc. | PJT | $3.9B | 33.69 | 19.69 | 58.4% | 15.08 |
| WSFS Financial Corporation | WSFS | $3.8B | 12.96 | 1.36 | 10.5% | - |
| Peer Median | - | 11.30 | 1.17 | 12.0% | 15.08 | |