Virtu Financial, Inc.

VIRT

Financial ServicesMid CapUS Equities · NYSE / NASDAQ

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Company Profile

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.

Valuation

Market Cap$11.1B

Current Price$62.96as of Jun 23, 2026

P/E Ratio25.30

P/B Ratio7.00

EV / EBITDA9.56

EV / Sales5.23

Profitability

Operating Margin51.6%

Net Profit Margin12.1%

EBITDA Margin54.7%

Returns

ROE27.7%

ROCE18.2%

ROIC %-

ROA2.2%

Solvency

Current Ratio1.69

Debt / Equity5.67

Debt / Assets0.45

CFO / Net Profit1.18

Price History▲ 48.46% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$3.6B▲ 26.2%

EBITDA$2.0B▲ 43.1%

Net Profit$468M▲ 69.4%

Cash from Ops (CFO)$518M▼ 13.5%

Free Cash Flow (FCF)$455M▼ 16.5%

Revenue CAGR 3Y15.4%

Revenue CAGR 5Y-

Net Profit CAGR 3Y20.9%

Net Profit CAGR 5Y-

Historical Growth

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%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	2,364.81	2,293.37	2,876.95	3,632.12
Operating Revenue	-	2,317.86	2,219.51	2,801.29	3,562.55
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
Selling General And Administration	-	219.50	230.76	236.45	249.21
Total Expenses	-	1,446.90	1,359.40	1,558.98	1,756.54
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
Normalized EBITDA	-	1,019.21	1,052.93	1,404.77	1,980.62
EBIT	-	879.89	924.89	1,271.95	1,874.64
Interest Expense	-	323.10	599.76	626.98	780.31
Net Interest Income	-	-353	-608.08	-656.46	-786.82
Other Income Expense	-	-8.11	-0.77	-16.54	5.57
Interest Expense Non Operating	-	323.10	599.76	626.98	780.31
Net Non Operating Interest Income Expense	-	-353	-608.08	-656.46	-786.82
Pretax Income	-	556.80	325.13	644.97	1,094.33
Tax Provision	-	88.47	61.21	110.44	182.06
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-1.29	-0.14	-2.83	0.92
Net Income Continuous Operations	-	468.33	263.92	534.54	912.26
Net Income From Continuing And Discontinued Operation	-	265.03	142.04	276.42	468.36
Net Income From Continuing Operation Net Minority Interest	-	265.03	142.04	276.42	468.36
Net Income	-	265.03	142.04	276.42	468.36
Net Income Common Stockholders	-	255.22	133.88	260.39	437.76
Net Income Including Noncontrolling Interests	-	468.33	263.92	534.54	912.26
Normalized Income	-	271.84	142.66	290.12	463.72
Diluted NI Availto Com Stockholders	-	255.22	133.88	260.39	437.76
Basic Average Shares	-	104	94.08	87.48	85.22
Diluted Average Shares	-	104.42	94.08	87.82	85.32
Reconciled Depreciation	-	131.21	127.27	116.29	111.55
Reconciled Cost Of Revenue	-	1,010.12	902.40	1,109.25	1,297.86
Total Unusual Items	-	-8.11	-0.77	-16.54	5.57
Total Unusual Items Excluding Goodwill	-	-8.11	-0.77	-16.54	5.57
Minority Interests	-	-203.31	-121.88	-258.12	-443.90
Special Income Charges	-	-8.11	-0.77	-16.54	5.57
Other Special Charges	-	6.98	0.46	16.22	-5.98
Restructuring And Mergern Acquisition	-	1.12	0.31	0.31	0.41
Depreciation Amortization Depletion Income Statement	-	131.21	127.27	116.29	111.55
Depreciation And Amortization In Income Statement	-	131.21	127.27	116.29	111.55
General And Administrative Expense	-	219.50	230.76	236.45	249.21
Other Gand A	-	219.50	230.76	236.45	249.21
Total Other Finance Cost	-	29.91	8.32	29.48	6.51
Other Operating Expenses	-	86.07	98.97	97	97.92
Otherunder Preferred Stock Dividend	-	9.81	8.15	16.02	30.60
Amortization	-	64.84	63.96	50.47	47.13
Amortization Of Intangibles Income Statement	-	64.84	63.96	50.47	47.13
Depreciation Income Statement	-	66.38	63.31	65.82	64.42

Peer Comparison

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	$11.1B	25.30↑ premium	7.00	27.7%	9.56
FactSet Research Systems Inc.	FDS	$9.3B	15.56	4.25	27.3%	10.88
StoneX Group Inc.	SNEX	$9.0B	29.55	3.80	12.9%	13.05
Jackson Financial Inc.	JXN	$7.4B	273.73	0.78	0.3%	-
PJT Partners Inc.	PJT	$6.5B

Learn while you research

Hand-picked academy chapters to deepen your understanding of Virtu Financial, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Growth Investing

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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%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

2,364.81

2,293.37

2,876.95

3,632.12

Operating Revenue

2,317.86

2,219.51

2,801.29

3,562.55

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

Selling General And Administration

219.50

230.76

236.45

249.21

Total Expenses

1,446.90

1,359.40

1,558.98

1,756.54

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

Normalized EBITDA

1,019.21

1,052.93

1,404.77

1,980.62

EBIT

879.89

924.89

1,271.95

1,874.64

Interest Expense

323.10

599.76

626.98

780.31

Net Interest Income

-353

-608.08

-656.46

-786.82

Other Income Expense

-8.11

-0.77

-16.54

5.57

Interest Expense Non Operating

323.10

599.76

626.98

780.31

Net Non Operating Interest Income Expense

-353

-608.08

-656.46

-786.82

Pretax Income

556.80

325.13

644.97

1,094.33

Tax Provision

88.47

61.21

110.44

182.06

Tax Rate For Calcs

Tax Effect Of Unusual Items

-1.29

-0.14

-2.83

0.92

Net Income Continuous Operations

468.33

263.92

534.54

912.26

Net Income From Continuing And Discontinued Operation

265.03

142.04

276.42

468.36

Net Income From Continuing Operation Net Minority Interest

265.03

142.04

276.42

468.36

Net Income

265.03

142.04

276.42

468.36

Net Income Common Stockholders

255.22

133.88

260.39

437.76

Net Income Including Noncontrolling Interests

468.33

263.92

534.54

912.26

Normalized Income

271.84

142.66

290.12

463.72

Diluted NI Availto Com Stockholders

255.22

133.88

260.39

437.76

Basic Average Shares

104

94.08

87.48

85.22

Diluted Average Shares

104.42

94.08

87.82

85.32

Reconciled Depreciation

131.21

127.27

116.29

111.55

Reconciled Cost Of Revenue

1,010.12

902.40

1,109.25

1,297.86

Total Unusual Items

-8.11

-0.77

-16.54

5.57

Total Unusual Items Excluding Goodwill

-8.11

-0.77

-16.54

5.57

Minority Interests

-203.31

-121.88

-258.12

-443.90

Special Income Charges

-8.11

-0.77

-16.54

5.57

Other Special Charges

6.98

0.46

16.22

-5.98

Restructuring And Mergern Acquisition

1.12

0.31

0.41

Depreciation Amortization Depletion Income Statement

131.21

127.27

116.29

111.55

Depreciation And Amortization In Income Statement

131.21

127.27

116.29

111.55

General And Administrative Expense

219.50

230.76

236.45

249.21

Other Gand A

219.50

230.76

236.45

249.21

Total Other Finance Cost

29.91

8.32

29.48

6.51

Other Operating Expenses

86.07

98.97

97.92

Otherunder Preferred Stock Dividend

9.81

8.15

16.02

30.60

Amortization

64.84

63.96

50.47

47.13

Amortization Of Intangibles Income Statement

64.84

63.96

50.47

47.13

Depreciation Income Statement

66.38

63.31

65.82

64.42

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Virtu Financial, Inc.this co.

VIRT

$11.1B

25.30↑ premium

7.00

27.7%

9.56

FactSet Research Systems Inc.

FDS

$9.3B

15.56

4.25

27.3%

10.88

StoneX Group Inc.

SNEX

$9.0B

29.55

3.80

12.9%

13.05

Jackson Financial Inc.

JXN

$7.4B

273.73

0.78

0.3%

PJT Partners Inc.

PJT

$6.5B

Virtu Financial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Virtu Financial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on