Virtu Financial Inc - Understand $VIRT stock

$VIRT Market Cap: $4.852 Billion

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Financial Snapshot

Revenue

$2.502B

TTM

Gross Margin

51.75%

TTM

Net Earnings

$188.7M

TTM

Current Assets

$1.712B

Q2 2024

Current Liabilities

$8.982B

Q2 2024

Current Ratio

19.06%

Q2 2024

Total Assets

$13.93B

Q2 2024

Total Liabilities

$12.50B

Q2 2024

Book Value

$1.429B

Q2 2024

Cash

$684.8M

Q2 2024

P/E

25.72

Sep 06, 2024 EST

Free Cash Flow

$573.8M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$2.293B	$2.365B	$2.811B	$3.239B	$1.517B	$1.879B	$1.028B	$702.3M	$796.2M	$723.1M	$664.5M	$615.6M	$461.2M
YoY Change	-3.02%	-15.89%	-13.21%	113.47%	-19.23%	82.76%	46.38%	-11.8%	10.11%	8.82%	7.94%	33.48%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$2.293B	$2.365B	$2.811B	$3.239B	$1.517B	$1.879B	$1.028B	$702.3M	$796.2M	$723.1M	$664.5M	$615.6M	$461.2M
Cost Of Revenue	$1.116B	$972.2M	$971.7M	$1.004B	$734.0M	$538.6M	$448.8M	$311.7M	$314.1M	$311.9M	$275.0M	$275.8M	$186.7M
Gross Profit	$1.177B	$1.393B	$1.840B	$2.235B	$783.5M	$1.340B	$579.2M	$390.6M	$482.1M	$411.1M	$389.5M	$339.8M	$274.5M
Gross Profit Margin	51.32%	58.89%	65.44%	69.0%	51.63%	71.33%	56.34%	55.62%	60.55%	56.85%	58.62%	55.2%	59.52%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Selling, General & Admin	$493.0M	$477.0M	$464.4M	$488.1M	$487.4M	$280.3M	$242.6M	$108.3M	$114.0M	$109.1M	$112.3M	$97.80M	$58.70M
YoY Change	3.35%	2.71%	-4.85%	0.14%	73.89%	15.54%	124.01%	-5.0%	4.49%	-2.85%	14.83%	66.61%
% of Gross Profit	41.89%	34.25%	25.24%	21.84%	62.21%	20.92%	41.89%	27.73%	23.65%	26.54%	28.83%	28.78%	21.38%
Research & Development	$230.8M	$219.5M	$212.0M	$213.8M	$209.4M	$176.1M	$131.5M	$71.00M
YoY Change	5.13%	3.55%	-0.82%	2.08%	18.89%	33.93%	85.22%
% of Gross Profit	19.61%	15.76%	11.52%	9.56%	26.73%	13.14%	22.7%	18.18%
Depreciation & Amortization	$25.60M	$26.10M	$28.40M	$37.40M	$44.70M	$48.40M	$36.80M	$19.60M	$33.80M	$30.60M	$24.90M	$89.70M	$49.90M
YoY Change	-1.92%	-8.1%	-24.06%	-16.33%	-7.64%	31.52%	87.76%	-42.01%	10.46%	22.89%	-72.24%	79.76%
% of Gross Profit	2.18%	1.87%	1.54%	1.67%	5.71%	3.61%	6.35%	5.02%	7.01%	7.44%	6.39%	26.4%	18.18%
Operating Expenses	$1.968B	$1.808B	$1.815B	$1.856B	$1.633B	$1.182B	$914.8M	$522.7M	$222.0M	$208.6M	$201.9M	$248.9M	$154.7M
YoY Change	8.86%	-0.36%	-2.26%	13.65%	38.15%	29.24%	75.02%	135.44%	6.42%	3.32%	-18.88%	60.89%
Operating Profit	-$791.3M	-$415.4M	$25.21M	$378.8M	-$850.0M	$157.7M	-$335.6M	-$132.1M	$260.1M	$202.5M	$187.6M	$90.90M	$119.8M
YoY Change	90.5%	-1747.86%	-93.35%	-144.57%	-638.83%	-147.0%	154.1%	-150.78%	28.44%	7.94%	106.38%	-24.12%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Pretax Income	$325.1M	$556.8M	$996.9M	$1.383B	-$116.0M	$696.4M	$113.2M	$179.6M	$215.9M	$193.6M	$187.6M	$89.30M	$101.0M
YoY Change	-41.61%	-44.15%	-27.91%	-1292.29%	-116.66%	515.36%	-36.99%	-16.82%	11.52%	3.2%	110.08%	-11.58%
Income Tax	$61.21M	$88.47M	$169.7M	$261.9M	-$12.28M	$76.17M	$94.27M	$21.25M	$18.40M	$3.500M	$5.400M	$1.800M	$11.70M
% Of Pretax Income	18.83%	15.89%	17.02%	18.94%		10.94%	83.3%	11.83%	8.52%	1.81%	2.88%	2.02%	11.58%
Net Earnings	$142.0M	$265.0M	$476.9M	$649.2M	-$58.60M	$289.4M	$2.939M	$32.98M	$20.90M	$190.1M	$182.2M	$87.60M	$89.30M
YoY Change	-46.41%	-44.42%	-26.54%	-1207.94%	-120.24%	9748.28%	-91.09%	57.8%	-89.01%	4.34%	107.99%	-1.9%
Net Earnings / Revenue	6.19%	11.21%	16.96%	20.04%	-3.86%	15.41%	0.29%	4.7%	2.62%	26.29%	27.42%	14.23%	19.36%
Basic Earnings Per Share	$1.42	$2.45	$3.95	$5.19	-$0.53	$2.82	$0.03	$0.83
Diluted Earnings Per Share	$1.42	$2.44	$3.91	$5.16	-$0.53	$2.78	$0.03	$0.83	$592.1K	$1.393M	$1.335M	$641.8K	$654.2K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Cash & Short-Term Investments	$820.4M	$981.6M	$1.071B	$889.6M	$732.2M	$736.0M	$532.9M	$181.4M	$163.2M	$75.90M	$66.00M	$40.00M
YoY Change	-16.42%	-8.39%	20.44%	21.5%	-0.52%	38.11%	193.77%	11.15%	115.02%	15.0%	65.0%
Cash & Equivalents	$820.4M	$981.6M	$1.071B	$889.6M	$732.2M	$736.0M	$532.9M	$181.4M	$163.2M	$75.90M	$66.00M	$40.00M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$844.0M	$1.196B	$1.173B	$1.899B	$1.422B	$1.101B	$972.0M	$448.7M	$476.5M	$387.7M	$427.7M	$366.1M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$1.664B	$2.178B	$2.245B	$2.788B	$2.154B	$1.837B	$1.505B	$630.1M	$639.7M	$463.6M	$493.7M	$406.1M
YoY Change	-23.57%	-2.99%	-19.49%	29.42%	17.25%	22.09%	138.84%	-1.5%	37.99%	-6.1%	21.57%
Property, Plant & Equipment	$329.9M	$272.6M	$314.9M	$382.5M	$430.6M	$113.3M	$137.0M	$29.70M	$37.50M	$44.60M	$37.60M	$31.50M
YoY Change	20.99%	-13.43%	-17.67%	-11.17%	280.05%	-17.3%	361.28%	-20.8%	-15.92%	18.62%	19.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$10.59B	$6.155B	$5.726B	$4.564B	$4.838B	$4.055B	$4.184B	$2.048B	$1.766B	$2.061B	$2.674B	$2.012B
YoY Change	72.1%	7.5%	25.47%	-5.66%	19.29%	-3.08%	104.3%	16.0%	-14.33%	-22.94%	32.91%
Other Assets	$168.8M	$203.5M	$208.0M	$310.5M	$255.8M	$200.4M	$180.8M	$193.9M	$193.7M
YoY Change	-17.04%	-2.19%	-33.01%	21.38%	27.64%	10.84%	-6.76%	0.1%
Total Long-Term Assets	$12.80B	$8.406B	$8.075B	$7.178B	$7.455B	$5.544B	$5.815B	$3.062B	$2.752B	$2.856B	$3.470B	$2.803B
YoY Change	52.3%	4.09%	12.5%	-3.72%	34.48%	-4.67%	89.89%	11.27%	-3.63%	-17.7%	23.8%
Total Assets	$14.47B	$10.58B	$10.32B	$9.966B	$9.609B	$7.381B	$7.320B	$3.692B	$3.392B	$3.320B	$3.964B	$3.209B
YoY Change
Accounts Payable	$1.589B	$706.8M	$571.5M	$876.4M	$826.8M	$567.4M	$716.2M	$696.0M	$486.6M	$686.2M	$530.2M	$252.5M
YoY Change	124.87%	23.67%	-34.79%	6.0%	45.72%	-20.78%	2.9%	43.03%	-29.09%	29.42%	109.98%
Accrued Expenses	$278.3M	$239.2M	$278.7M	$315.3M	$365.4M
YoY Change	16.35%	-14.19%	-11.59%	-13.71%
Deferred Revenue
YoY Change
Short-Term Debt	$7.867B	$4.828B	$4.087B	$525.9M	$414.2M	$297.0M	$418.5M	$25.00M	$45.00M	$2.000M	$83.70M	$94.90M
YoY Change	62.94%	18.15%	677.07%	26.97%	39.46%	-29.03%	1574.0%	-44.44%	2150.0%	-97.61%	-11.8%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$9.735B	$5.774B	$4.817B	$1.321B	$1.606B	$864.4M	$777.3M	$721.0M	$531.6M	$95.30M	$164.6M	$175.1M
YoY Change	68.59%	19.88%	264.54%	-17.75%	85.84%	11.21%	7.81%	35.63%	457.82%	-42.1%	-6.0%
Long-Term Debt	$3.086B	$2.872B	$2.754B	$2.599B	$3.531B	$2.037B	$1.389B	$565.0M	$493.6M	$495.7M	$507.7M	$256.3M
YoY Change	7.47%	4.28%	5.95%	-26.4%	73.35%	46.71%	145.75%	14.47%	-0.42%	-2.36%	98.09%
Other Long-Term Liabilities	$239.7M	$285.3M	$314.3M	$3.314B	$2.857B	$2.690B	$3.286B	$1.803B	$1.722B	$1.536B	$2.308B	$1.835B
YoY Change	-15.98%	-9.23%	-90.52%	15.99%	6.22%	-18.15%	82.29%	4.69%	12.15%	-33.46%	25.77%
Total Long-Term Liabilities	$3.326B	$3.157B	$3.068B	$5.913B	$6.388B	$4.727B	$4.675B	$2.368B	$2.216B	$2.031B	$2.815B	$2.091B
YoY Change	5.35%	2.9%	-48.11%	-7.44%	35.15%	1.11%	97.43%	6.86%	9.08%	-27.85%	34.64%
Total Liabilities	$13.26B	$9.241B	$8.771B	$8.497B	$8.678B	$6.329B	$6.489B	$3.547B	$3.261B	$2.813B	$3.510B	$2.519B
YoY Change	43.53%	5.37%	3.22%	-2.08%	37.11%	-2.47%	82.97%	8.75%	15.94%	-19.87%	39.37%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Basic Shares Outstanding	94.08M shares	104.0M shares	117.3M shares	121.7M shares	113.9M shares	100.9M shares	62.58M shares	38.54M shares
Diluted Shares Outstanding	94.08M shares	104.4M shares	118.4M shares	122.3M shares	113.9M shares	102.1M shares	62.58M shares	38.54M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $4.852 Billion

About Virtu Financial Inc

Virtu Financial, Inc. engages in the provision of trading solutions and liquidity services. The company is headquartered in New York City, New York and currently employs 975 full-time employees. The company went IPO on 2015-04-16. The firm's segments include Market Making and Execution Services. The Market Making segment principally consists of market making in the cash, futures, and options markets across global equities, fixed income, currencies, cryptocurrencies, and commodities. The Execution Services segment offers agency execution services and trading venues that provide trading in global equities, exchange traded funds, fixed income, currencies, and commodities to institutions, banks and broker dealers. The firm's integrated, multi-asset analytics platform provides a range of pre- and post-trade services, data products and compliance tools. The company provides a product suite, including offerings in liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology.

Industry: Security Brokers, Dealers & Flotation Companies Peers: Freedom Holding Corp Morgan Stanley Evercore Inc Houlihan Lokey Inc Jefferies Financial Group Inc LPL Financial Holdings Inc Moelis & Co Piper Sandler Companies Robinhood Markets Inc Stifel Financial Corp