Virtu Financial Financials
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).
A larger, liability-heavy balance sheet is amplifying the profit rebound, even though cash generation has not returned to prior richness.
Net income has recovered close to its earlier peak at$468M , but operating cash flow is still only$518M . That split means the business is again earning well on paper, yet the current cycle is less cash-rich than the earlier one, which matters because cash funds debt service and shareholder distributions.
With operating cash flow at
The balance sheet remains liability-heavy, with liabilities of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Virtu Financial's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Virtu Financial's revenue surged 26.2% year-over-year to $3.6B, reflecting rapid business expansion. This strong growth earns a score of 76/100.
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.
Virtu Financial converts 13.6% of revenue into free cash flow ($495.6M). This strong cash generation earns a score of 67/100.
Virtu Financial generates a 0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is up from 0.0% the prior year.
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.
For every $1 of reported earnings, Virtu Financial generates $568.24 in operating cash flow ($518.4M OCF vs $912K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Virtu Financial generated $3.6B in revenue in fiscal year 2025. This represents an increase of 26.2% from the prior year.
Virtu Financial reported $912K in net income in fiscal year 2025. This represents an increase of 70.7% from the prior year.
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
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.
Virtu Financial held $1.1B in cash against $2.0B in long-term debt as of fiscal year 2025.
Virtu Financial paid $0.24 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Virtu Financial's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.
Virtu Financial's ROE was 0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Capital Allocation
Virtu Financial spent $1.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
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 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+12.9% | $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 |
| 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 | $29.1M+16.4% | $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 |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $34.8M-6.1% | $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 |
| Income Tax | $63.0M0.0% | $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 |
| Net Income | $182.3M+155.7% | -$327.6M-522.0% | $77.6M-48.7% | $151.2M+51.7% | $99.7M+154.8% | -$181.8M-403.3% | $60.0M-10.0% | $66.6M |
| EPS (Diluted) | $1.99 | N/A | $0.86-47.9% | $1.65+52.8% | $1.08 | N/A | $0.64-9.9% | $0.71 |
VIRT Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $25.1B+24.6% | $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 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $973.2M-8.3% | $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 |
| 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 | $22.9B+26.1% | $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 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $2.0B-0.7% | $2.0B0.0% | $2.0B+17.0% | $1.7B+0.1% | $1.7B0.0% | $1.7B-0.1% | $1.7B+0.2% | $1.7B |
| Total Equity | $1.7B+9.7% | $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 |
| Retained Earnings | $1.6B+6.9% | $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 |
VIRT Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$149K-100.0% | $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 |
| Capital Expenditures | $5.6M+45.4% | $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 |
| Free Cash Flow | -$5.8M-101.1% | $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 |
| Investing Cash Flow | -$36.1M-1170.7% | -$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 |
| Financing Cash Flow | -$56.6M+58.6% | -$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 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $1.6M | $0 | $0 | $0 |
VIRT Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | 16.6%+50.4pp | -33.8%-43.2pp | 9.4%-5.7pp | 15.1%+3.2pp | 11.9%+33.7pp | -21.8%-30.3pp | 8.5%-1.1pp | 9.6% |
| Return on Equity | 10.5%+31.2pp | -20.7%-26.0pp | 5.3%-5.4pp | 10.7%+3.1pp | 7.6%+22.1pp | -14.5%-19.4pp | 4.9%-0.6pp | 5.4% |
| Return on Assets | 0.7%+2.4pp | -1.6%-2.0pp | 0.4%-0.4pp | 0.8%+0.2pp | 0.6%+1.8pp | -1.2%-1.6pp | 0.4%-0.1pp | 0.5% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.17-0.1 | 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 |
| FCF Margin | -0.5%-52.6pp | 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% |
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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 $912K in fiscal year 2025, with a net profit margin of 0.0%.
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 0.0% 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 0.1% 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.
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 0.0% 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 to 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 568.24x, 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 38 out of 100 on our Financial Profile, indicating weak 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.