VIRT
Virtu Financial, Inc.
Next earnings Jul 28, 2026 · consensus $1.54 EPS, $614M rev
Last earnings +3.9% on 2026-04-29
$61.77
▲ +6.23%$61.77▲ +42.29%
over 1Y
L $31.82H $63.41
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+6.2%
1W+1.2%
1M+24.8%
3M+34.3%
YTD+91.5%
1Y+42.3%
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 13 analysts
Buy
A cheap, high-ROE market maker minting cash in a volatile year — but earnings swing hard with trading conditions.
Net income $468M · FY2025
The read
Middling fundamentals offset by an attractive price (~216% below fair value) — worth a look on the value angle.
Virtu is a global electronic market maker whose FY2025 results show the model at its best. Revenue rose 19.4% to $617M and net income jumped 69.4% to $468M, with diluted EPS of $5.13 producing a 75.9% net margin and a 23.7% ROE. At $63.07 the stock trades at just a 12.3 P/E, and the company returns capital steadily, paying a $0.24 quarterly dividend held constant across 2023-2025. The performance graph in the filing shows the stock has been a strong but choppy performer.
The defining feature — and the reason for restraint — is volatility of the earnings stream itself. Virtu's profits are a function of market trading volumes and volatility, which it manages through Adjusted Net Trading Income. The revenue/net-income history makes this vivid: net income fell from $477M (FY2021) to $265M, then $142M (FY2023), before recovering to $276M and now $468M. A calm, low-volatility market would compress results again. The MD&A also shows rising cost pressures — employee compensation up 21.5% to $528M (discretionary incentive accrual tied to profitability), interest and dividend expense up 22.3% to $647M, and financing interest on long-term borrowings up 35.9%.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:46 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $614M | $530M | $456M | $517M | $617M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $477M | $265M | $142M | $276M | $468M |
| Diluted EPS | $3.91 | $2.44 | $1.42 | $2.97 | $5.13 |
| Net margin | 77.6% | 50.0% | 31.2% | 53.5% | 75.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF26.8
PEG (trailing)0.17
Earnings yield3.5%
FCF yield3.7%
Quality & risk
ROIC (est.)—
Free cash flow$496M
Total debt$2.10B
Net cash-$1.04B
Piotroski F-Score6/7
Capital returns
Buyback yield0.0%
Dividend yield (est.)0.9%
Shareholder yield0.9%
Shares Δ YoY-2.6%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-102026-06-10open ↗8-KPeriod ending 2026-06-092026-06-09open ↗4Period ending 2026-05-082026-05-08open ↗144Filing2026-05-08open ↗4Period ending 2026-05-052026-05-06open ↗144Filing2026-05-05open ↗10-QPeriod ending 2026-03-312026-05-01open ↗ARSPeriod ending 2025-12-312026-04-29open ↗DEFA14AFiling2026-04-29open ↗DEF 14APeriod ending 2026-06-102026-04-29open ↗SCHEDULE 13GFiling2026-04-29open ↗8-KPeriod ending 2026-04-292026-04-29open ↗
Frequently asked
- Is Virtu Financial, Inc. (VIRT) a buy?
- VIRT currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. A cheap, high-ROE market maker minting cash in a volatile year — but earnings swing hard with trading conditions.
- What is VIRT's fair value?
- A Modified-Graham model based on VIRT's SEC fundamentals estimates a fair value of about $194.94. It is an estimate from reported earnings, not a price target.
- Is VIRT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, VIRT currently appears undervalued relative to its SEC-grounded earnings power.
- What is Virtu Financial, Inc.'s quality score?
- VIRT scores 80.83859641325984/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001592386, latest 10-Q filed 2026-05-01) · EODHD · Proprietary analysis · as of 6/21/2026, 8:46:31 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.