What is Virtu Financial's earnings per share (EPS)?

Virtu Financial (VIRT) reported diluted earnings per share of $5.13 for fiscal year 2025. This represents a 72.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Virtu Financial Financials

VIRT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Virtu Financial (VIRT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 72/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Virtu Financial's revenue surged 26.2% year-over-year to $3.6B, reflecting rapid business expansion. This strong growth earns a score of 77/100.

Leverage

Virtu Financial carries a low D/E ratio of 1.29, meaning only $1.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

Virtu Financial has a free cash flow margin of 13.6%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Virtu Financial earns a strong 29.6% return on equity (ROE), meaning it generates $30 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is up from 22.0% the prior year.

Piotroski F-Score Neutral

5/9

Virtu Financial passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.11x

For every $1 of reported earnings, Virtu Financial generates $1.11 in operating cash flow ($518.4M OCF vs $468.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.6B

YoY+26.2%

5Y CAGR+2.3%

10Y CAGR+16.4%

Virtu Financial generated $3.6B in revenue in fiscal year 2025. This represents an increase of 26.2% from the prior year.

EBITDA

N/A

Net Income

$468.4M

YoY+69.4%

5Y CAGR-6.3%

10Y CAGR+36.5%

Virtu Financial reported $468.4M in net income in fiscal year 2025. This represents an increase of 69.4% from the prior year.

EPS (Diluted)

$5.13

YoY+72.7%

5Y CAGR-0.1%

10Y CAGR+24.1%

Virtu Financial earned $5.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 72.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$495.6M

YoY-15.5%

5Y CAGR-13.6%

10Y CAGR+7.3%

Virtu Financial generated $495.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 15.5% from the prior year.

Cash & Debt

$1.1B

YoY+21.7%

5Y CAGR+3.6%

10Y CAGR+20.6%

Virtu Financial held $1.1B in cash against $2.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.24

YoY+0.0%

5Y CAGR+0.0%

Virtu Financial paid $0.24 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

12.9%

YoY+3.3pp

5Y CAGR-7.2pp

10Y CAGR+10.3pp

Virtu Financial's net profit margin was 12.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.3 percentage points from the prior year.

Return on Equity

29.6%

YoY+7.6pp

5Y CAGR-14.6pp

10Y CAGR+13.6pp

Virtu Financial's ROE was 29.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$1.6M

10Y CAGR-8.5%

Virtu Financial spent $1.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$22.8M

YoY+83.5%

5Y CAGR-4.6%

10Y CAGR+3.4%

Virtu Financial invested $22.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 83.5% from the prior year.

VIRT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.6B+26.2%	$2.9B+25.4%	$2.3B-3.0%	$2.4B-15.9%	$2.8B-13.2%	$3.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$97.9M+0.9%	$97.0M-2.0%	$99.0M+15.0%	$86.1M-2.4%	$88.1M-6.8%	$94.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$132.9M+35.8%	$97.8M-1.5%	$99.3M+7.9%	$92.0M+15.1%	$80.0M-8.9%	$87.7M
Income Tax	$182.1M+64.9%	$110.4M+80.4%	$61.2M-30.8%	$88.5M-47.9%	$169.7M-35.2%	$261.9M
Net Income	$468.4M+69.4%	$276.4M+94.6%	$142.0M-46.4%	$265.0M-44.4%	$476.9M-26.5%	$649.2M
EPS (Diluted)	$5.13+72.7%	$2.97+109.2%	$1.42-41.8%	$2.44-37.6%	$3.91-24.2%	$5.16

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$969.9M+17.6%	$824.8M-17.5%	$999.6M+19.3%	$837.9M+0.4%	$834.3M+18.0%	$706.8M+2.0%	$693.0M+7.8%	$642.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$25.0M+0.3%	$24.9M-3.8%	$25.9M+17.0%	$22.1M-20.0%	$27.7M+10.9%	$24.9M+13.0%	$22.1M-1.3%	$22.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$37.1M+11.5%	$33.3M+2.3%	$32.6M+8.9%	$29.9M+12.2%	$26.6M+8.8%	$24.5M+4.5%	$23.4M+0.9%	$23.2M
Income Tax	$63.0M+103.6%	$30.9M-42.8%	$54.0M+58.5%	$34.1M+28.6%	$26.5M-5.8%	$28.1M+3.2%	$27.3M-4.4%	$28.5M
Net Income	$139.9M+80.2%	$77.6M-48.7%	$151.2M+51.7%	$99.7M+6.0%	$94.1M+56.9%	$60.0M-10.0%	$66.6M+19.3%	$55.8M
EPS (Diluted)	N/A	$0.86-47.9%	$1.65+52.8%	$1.08	N/A	$0.64-9.9%	$0.71+20.3%	$0.59

VIRT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$20.2B+31.2%	$15.4B+6.2%	$14.5B+36.7%	$10.6B+2.6%	$10.3B+3.6%	$10.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.1B+21.7%	$872.5M+6.3%	$820.4M-16.4%	$981.6M-8.4%	$1.1B+20.4%	$889.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B
Total Liabilities	$18.2B+31.0%	$13.9B+6.2%	$13.1B+46.2%	$8.9B+5.6%	$8.5B+4.3%	$8.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.0B+17.2%	$1.7B+0.8%	$1.7B-3.8%	$1.8B+11.9%	$1.6B-2.1%	$1.6B
Total Equity	$1.6B+26.2%	$1.3B+4.3%	$1.2B-10.4%	$1.3B-13.4%	$1.5B+5.5%	$1.5B
Retained Earnings	$1.5B+30.0%	$1.2B+16.8%	$1.0B+2.9%	$972.3M+17.1%	$830.5M+96.6%	$422.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$20.2B-5.3%	$21.3B+10.3%	$19.3B+9.9%	$17.5B+14.2%	$15.4B+6.7%	$14.4B+3.4%	$13.9B+8.9%	$12.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.1B+50.0%	$707.9M-5.9%	$752.1M+3.9%	$723.6M-17.1%	$872.5M+24.4%	$701.4M+2.4%	$684.8M+71.4%	$399.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B
Total Liabilities	$18.2B-7.1%	$19.6B+10.9%	$17.7B+10.4%	$16.0B+15.2%	$13.9B+6.9%	$13.0B+3.8%	$12.5B+10.0%	$11.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.0B0.0%	$2.0B+17.0%	$1.7B+0.1%	$1.7B0.0%	$1.7B-0.1%	$1.7B+0.2%	$1.7B+0.7%	$1.7B
Total Equity	$1.6B+8.8%	$1.5B+3.4%	$1.4B+7.4%	$1.3B+4.4%	$1.3B+1.8%	$1.2B+0.1%	$1.2B+1.6%	$1.2B
Retained Earnings	$1.5B+8.4%	$1.4B+3.4%	$1.4B+10.4%	$1.2B+5.0%	$1.2B+6.5%	$1.1B+3.4%	$1.1B+4.3%	$1.0B

VIRT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$518.4M-13.5%	$599.0M+21.8%	$491.8M-30.4%	$706.8M-39.7%	$1.2B+10.4%	$1.1B
Capital Expenditures	$22.8M+83.5%	$12.4M-67.1%	$37.8M+38.9%	$27.2M+10.7%	$24.6M-15.0%	$28.9M
Free Cash Flow	$495.6M-15.5%	$586.6M+29.2%	$454.0M-33.2%	$679.6M-40.8%	$1.1B+11.2%	$1.0B
Investing Cash Flow	-$40.6M+34.3%	-$61.8M+34.5%	-$94.5M-220.0%	-$29.5M+66.2%	-$87.3M-3313.4%	-$2.6M
Financing Cash Flow	-$281.0M+40.1%	-$469.6M+19.7%	-$585.0M+20.5%	-$735.7M+23.2%	-$957.9M-14.0%	-$839.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$120.5M
Share Buybacks	$1.6M	$0-100.0%	$1.6M-81.0%	$8.3M+139.0%	$3.5M	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$509.4M+841.2%	-$68.7M-209.5%	$62.8M+319.4%	$15.0M-96.2%	$391.5M+249.2%	$112.1M-77.2%	$490.8M+224.1%	-$395.4M
Capital Expenditures	$3.9M-51.8%	$8.0M+53.5%	$5.2M-9.1%	$5.7M+3266.9%	-$181K-103.1%	$5.9M+49.9%	$3.9M+39.2%	$2.8M
Free Cash Flow	$505.5M+758.9%	-$76.7M-233.3%	$57.6M+523.4%	$9.2M-97.6%	$391.3M+268.4%	$106.2M-78.2%	$486.9M+222.3%	-$398.2M
Investing Cash Flow	-$2.8M+89.2%	-$26.4M-234.5%	$19.6M+163.3%	-$31.0M-401.1%	-$6.2M+67.8%	-$19.2M-114.3%	-$9.0M+67.4%	-$27.5M
Financing Cash Flow	-$136.7M-315.4%	$63.4M+183.3%	-$76.1M+42.2%	-$131.7M+33.1%	-$196.7M-151.7%	-$78.2M+59.9%	-$195.0M-53976.5%	$362K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0	$0-100.0%	$1.6M	$0	$0	$0	$0

VIRT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	12.9%+3.3pp	9.6%+3.4pp	6.2%-5.0pp	11.2%-5.8pp	17.0%-3.1pp	20.0%
Return on Equity	29.6%+7.6pp	22.0%+10.2pp	11.8%-7.9pp	19.8%-11.0pp	30.8%-13.4pp	44.2%
Return on Assets	2.3%+0.5pp	1.8%+0.8pp	1.0%-1.5pp	2.5%-2.1pp	4.6%-1.9pp	6.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.29-0.1	1.39-0.0	1.44+0.1	1.34+0.3	1.04-0.1	1.12
FCF Margin	13.6%-6.8pp	20.4%+0.6pp	19.8%-8.9pp	28.7%-12.1pp	40.8%+8.9pp	31.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	14.4%+5.0pp	9.4%-5.7pp	15.1%+3.2pp	11.9%+0.6pp	11.3%+2.8pp	8.5%-1.1pp	9.6%+0.9pp	8.7%
Return on Equity	8.8%+3.5pp	5.3%-5.4pp	10.7%+3.1pp	7.6%+0.1pp	7.5%+2.6pp	4.9%-0.6pp	5.4%+0.8pp	4.6%
Return on Assets	0.7%+0.3pp	0.4%-0.4pp	0.8%+0.2pp	0.6%-0.0pp	0.6%+0.2pp	0.4%-0.1pp	0.5%+0.0pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.29-0.1	1.40+0.2	1.24-0.1	1.33-0.1	1.39-0.0	1.410.0	1.41-0.0	1.43
FCF Margin	52.1%+61.4pp	-9.3%-15.1pp	5.8%+4.7pp	1.1%-45.8pp	46.9%+31.9pp	15.0%-55.2pp	70.3%+132.2pp	-62.0%

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Frequently Asked Questions

What is Virtu Financial's annual revenue?

Virtu Financial (VIRT) reported $3.6B in total revenue for fiscal year 2025. This represents a 26.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Virtu Financial's revenue growing?

Virtu Financial (VIRT) revenue grew by 26.2% year-over-year, from $2.9B to $3.6B in fiscal year 2025.

Is Virtu Financial profitable?

Yes, Virtu Financial (VIRT) reported a net income of $468.4M in fiscal year 2025, with a net profit margin of 12.9%.

How much debt does Virtu Financial have?

As of fiscal year 2025, Virtu Financial (VIRT) had $1.1B in cash and equivalents against $2.0B in long-term debt.

What is Virtu Financial's net profit margin?

Virtu Financial (VIRT) had a net profit margin of 12.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Virtu Financial pay dividends?

Yes, Virtu Financial (VIRT) paid $0.24 per share in dividends during fiscal year 2025.

What is Virtu Financial's return on equity (ROE)?

Virtu Financial (VIRT) has a return on equity of 29.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Virtu Financial's free cash flow?

Virtu Financial (VIRT) generated $495.6M in free cash flow during fiscal year 2025. This represents a -15.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Virtu Financial's operating cash flow?

Virtu Financial (VIRT) generated $518.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Virtu Financial's total assets?

Virtu Financial (VIRT) had $20.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Virtu Financial's capital expenditures?

Virtu Financial (VIRT) invested $22.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Virtu Financial buy back shares?

Yes, Virtu Financial (VIRT) spent $1.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Virtu Financial's debt-to-equity ratio?

Virtu Financial (VIRT) had a debt-to-equity ratio of 1.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Virtu Financial's return on assets (ROA)?

Virtu Financial (VIRT) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Virtu Financial's Piotroski F-Score?

Virtu Financial (VIRT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Virtu Financial's earnings high quality?

Virtu Financial (VIRT) has an earnings quality ratio of 1.11x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Virtu Financial?

Virtu Financial (VIRT) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.