Virtus Investment Partners, Inc.

VRTS

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Virtus 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 1995 and is based in Hartford, Connecticut.

Valuation

Market Cap$995M

Current Price$140.93as of Jun 23, 2026

P/E Ratio7.19

P/B Ratio1.06

EV / EBITDA8.13

EV / Sales3.96

Profitability

Operating Margin19.7%

Net Profit Margin16.3%

EBITDA Margin48.7%

Returns

ROE14.8%

ROCE9.5%

ROIC %-

ROA3.2%

Solvency

Current Ratio-

Debt / Equity3.04

Debt / Assets0.66

CFO / Net Profit-0.49

Price History▼ 19.93% 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$848M▼ 6.1%

EBITDA$413M▼ 10.2%

Net Profit$138M▲ 13.7%

Cash from Ops (CFO)$-67M▼ 3929.0%

Free Cash Flow (FCF)$-74M▲ 1837.5%

Revenue CAGR 3Y-1.3%

Revenue CAGR 5Y-

Net Profit CAGR 3Y5.6%

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	$848M	$413M	$138M	$-74M	14.8%	-6.1%	13.7%
2024	$903M	$460M	$122M	$-4M	13.6%	7.3%	-6.8%
2023	$841M	$435M	$131M	$228M	15.1%	-4.6%	11.1%
2022	$882M	$326M	$118M	$126M	14.4%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	881.72	841.48	902.82	847.89
Operating Revenue	-	881.72	841.48	902.82	847.89
Cost Of Revenue	-	371.26	404.74	432.59	400.72
Gross Profit	-	510.46	436.74	470.23	447.17
Operating Expense	-	300.96	289.94	291.86	280.01
Selling General And Administration	-	112.61	96.80	96.22	89.05
Total Expenses	-	672.22	694.69	724.45	680.73
Operating Income	-	209.50	146.80	178.37	167.16
Total Operating Income As Reported	-	197.46	151.48	182.49	168.68
EBITDA	-	325.85	435.38	460.20	413.25
Normalized EBITDA	-	389.67	426.57	466.63	434.01
EBIT	-	257.30	365.33	391.20	349.63
Interest Income	-	111.77	210.16	217.22	199.76
Interest Expense	-	93.41	178.77	183.32	162.38
Net Interest Income	-	18.37	31.40	33.90	37.38
Other Non Operating Income Expenses	-	-0.15	-0.44	2.04	3.47
Other Income Expense	-	-63.97	8.37	-4.39	-17.29
Interest Income Non Operating	-	111.77	210.16	217.22	199.76
Interest Expense Non Operating	-	93.41	178.77	183.32	162.38
Net Non Operating Interest Income Expense	-	18.37	31.40	33.90	37.38
Pretax Income	-	163.89	186.56	207.88	187.25
Tax Provision	-	57.26	45.09	55.42	51.26
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-22.30	2.13	-1.72	-5.69
Net Income Continuous Operations	-	106.63	141.48	152.45	135.99
Net Income From Continuing And Discontinued Operation	-	117.54	130.62	121.75	138.40
Net Income From Continuing Operation Net Minority Interest	-	117.54	130.62	121.75	138.40
Net Income	-	117.54	130.62	121.75	138.40
Net Income Common Stockholders	-	117.54	130.62	121.75	138.40
Net Income Including Noncontrolling Interests	-	106.63	141.48	152.45	135.99
Normalized Income	-	159.06	123.94	126.46	153.47
Diluted NI Availto Com Stockholders	-	117.54	130.62	121.75	138.40
Basic Average Shares	-	7.39	7.25	7.08	6.83
Diluted Average Shares	-	7.58	7.38	7.21	6.93
Reconciled Depreciation	-	68.56	70.05	69	63.62
Reconciled Cost Of Revenue	-	365.13	401.53	428.84	396.87
Total Unusual Items	-	-63.82	8.81	-6.42	-20.76
Total Unusual Items Excluding Goodwill	-	-63.82	8.81	-6.42	-20.76
Minority Interests	-	10.91	-10.86	-30.71	2.41
Special Income Charges	-	-12.04	4.69	4.12	1.52
Restructuring And Mergern Acquisition	-	12.04	-4.69	-4.12	-1.52
Gain On Sale Of Security	-	-51.78	4.12	-10.55	-22.28
Depreciation Amortization Depletion Income Statement	-	62.43	66.83	65.26	59.77
Depreciation And Amortization In Income Statement	-	62.43	66.83	65.26	59.77
General And Administrative Expense	358.23	-	-	-	-
Salaries And Wages	358.23	-	-	-	-
Other Operating Expenses	-	125.93	126.31	130.38	131.20
Selling And Marketing Expense	-	112.61	96.80	96.22	89.05
Amortization	-	58.50	61.03	56.30	51.78
Amortization Of Intangibles Income Statement	-	58.50	61.03	56.30	51.78
Depreciation Income Statement	-	3.92	5.80	8.96	7.99

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Virtus Investment Partners, Inc.this co.	VRTS	$995M	7.19↓ discount	1.06	14.8%	8.13
OceanFirst Financial Corp.	OCFC	$1.0B	14.45	0.62	4.3%	-
Safety Insurance Group, Inc.	SAFT	$1.0B	10.16	1.12	11.1%	-
Universal Insurance Holdings, Inc.	UVE	$990M	5.41	1.80	33.2%	-
Southside Bancshares, Inc.

Learn while you research

Hand-picked academy chapters to deepen your understanding of Virtus Investment Partners, 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 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$848M

$413M

$138M

$-74M

14.8%

-6.1%

13.7%

2024

$903M

$460M

$122M

$-4M

13.6%

7.3%

-6.8%

2023

$841M

$435M

$131M

$228M

15.1%

-4.6%

11.1%

2022

$882M

$326M

$118M

$126M

14.4%

Metric

2021

2022

2023

2024

2025

Total Revenue

881.72

841.48

902.82

847.89

Operating Revenue

881.72

841.48

902.82

847.89

Cost Of Revenue

371.26

404.74

432.59

400.72

Gross Profit

510.46

436.74

470.23

447.17

Operating Expense

300.96

289.94

291.86

280.01

Selling General And Administration

112.61

96.80

96.22

89.05

Total Expenses

672.22

694.69

724.45

680.73

Operating Income

209.50

146.80

178.37

167.16

Total Operating Income As Reported

197.46

151.48

182.49

168.68

EBITDA

325.85

435.38

460.20

413.25

Normalized EBITDA

389.67

426.57

466.63

434.01

EBIT

257.30

365.33

391.20

349.63

Interest Income

111.77

210.16

217.22

199.76

Interest Expense

93.41

178.77

183.32

162.38

Net Interest Income

18.37

31.40

33.90

37.38

Other Non Operating Income Expenses

-0.15

-0.44

2.04

3.47

Other Income Expense

-63.97

8.37

-4.39

-17.29

Interest Income Non Operating

111.77

210.16

217.22

199.76

Interest Expense Non Operating

93.41

178.77

183.32

162.38

Net Non Operating Interest Income Expense

18.37

31.40

33.90

37.38

Pretax Income

163.89

186.56

207.88

187.25

Tax Provision

57.26

45.09

55.42

51.26

Tax Rate For Calcs

Tax Effect Of Unusual Items

-22.30

2.13

-1.72

-5.69

Net Income Continuous Operations

106.63

141.48

152.45

135.99

Net Income From Continuing And Discontinued Operation

117.54

130.62

121.75

138.40

Net Income From Continuing Operation Net Minority Interest

117.54

130.62

121.75

138.40

Net Income

117.54

130.62

121.75

138.40

Net Income Common Stockholders

117.54

130.62

121.75

138.40

Net Income Including Noncontrolling Interests

106.63

141.48

152.45

135.99

Normalized Income

159.06

123.94

126.46

153.47

Diluted NI Availto Com Stockholders

117.54

130.62

121.75

138.40

Basic Average Shares

7.39

7.25

7.08

6.83

Diluted Average Shares

7.58

7.38

7.21

6.93

Reconciled Depreciation

68.56

70.05

63.62

Reconciled Cost Of Revenue

365.13

401.53

428.84

396.87

Total Unusual Items

-63.82

8.81

-6.42

-20.76

Total Unusual Items Excluding Goodwill

-63.82

8.81

-6.42

-20.76

Minority Interests

10.91

-10.86

-30.71

2.41

Special Income Charges

-12.04

4.69

4.12

1.52

Restructuring And Mergern Acquisition

12.04

-4.69

-4.12

-1.52

Gain On Sale Of Security

-51.78

4.12

-10.55

-22.28

Depreciation Amortization Depletion Income Statement

62.43

66.83

65.26

59.77

Depreciation And Amortization In Income Statement

62.43

66.83

65.26

59.77

General And Administrative Expense

358.23

Salaries And Wages

358.23

Other Operating Expenses

125.93

126.31

130.38

131.20

Selling And Marketing Expense

112.61

96.80

96.22

89.05

Amortization

58.50

61.03

56.30

51.78

Amortization Of Intangibles Income Statement

58.50

61.03

56.30

51.78

Depreciation Income Statement

3.92

5.80

8.96

7.99

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Virtus Investment Partners, Inc.this co.

VRTS

$995M

7.19↓ discount

1.06

14.8%

8.13

OceanFirst Financial Corp.

OCFC

$1.0B

14.45

0.62

4.3%

Safety Insurance Group, Inc.

SAFT

$1.0B

10.16

1.12

11.1%

Universal Insurance Holdings, Inc.

UVE

$990M

5.41

1.80

33.2%

Southside Bancshares, Inc.

Virtus Investment Partners, 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

Virtus Investment Partners, 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