A Business at a Glance
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VIRTUS INVESTMENT PARTNERS, INC.
VRTS
$1.1B
Mkt Cap
$165.66
+1.62%
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a current P/E ratio of 8.3, compared to its historical median P/E of 11.5. The stock is currently considered Fair based on its historical valuation range.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a 5-year average return on invested capital (ROIC) of 13.1%. This indicates solid capital allocation.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a market capitalization of $1.1B. It is classified as a small-cap stock.
Yes, VIRTUS INVESTMENT PARTNERS, INC. (VRTS) pays a dividend with a trailing twelve-month yield of 5.63%. The company also returns capital through share buybacks, with a buyback yield of 5.23%.
Based on historical P/E analysis, VIRTUS INVESTMENT PARTNERS, INC. (VRTS) appears fair. The current P/E of 8.3 is 28% below its historical median of 11.5. The estimated fair value CAGR (P/E method) is 10.6%.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) operates in the Investment Advice industry, within the Financials sector.
Virtus Investment Partners, Inc. (the "Company"), a Delaware corporation, commenced operations on November 1, 1995 and became an independent publicly traded company on December 31, 2008. Our Business We provide investment management and related services to institutions and individuals. We use a multi-manager, multi-style approach, offering investment strategies from our investment managers, each having its own distinct investment style, autonomous investment process and individual brand, as well as from select unaffiliated managers for certain of our funds. By offering a broad array of products, we believe we can appeal to a greater number of investors and have offerings across market cycles and through changes in investor preferences. Through our multi-manager model, we provide our investment managers with distribution, business and operational support.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Investment management fees | $782M | $728M | $711M | $774M | $725M | 46% |
Open-end funds | $395M | $336M | $305M | $318M | $287M | 18% |
Retail separate accounts | $175M | $172M | $171M | $209M | $210M | 13% |
Institutional accounts | $148M | $157M | $177M | $187M | $168M | 11% |
Administration and shareholder service fees | $103M | $86M | $74M | $74M | $73M | 5% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 853M | 853M | 907M | 845M | 886M | 979M |
| Net Income | 138M | 138M | 122M | 131M | 118M | 208M |
| EPS | $19.97 | $19.97 | $16.89 | $17.71 | $15.50 | $26.01 |
| Free Cash Flow | -74M | -74M | -3.8M | 228M | 126M | 660M |
| ROIC | 14.6% | 11.3% | 10.8% | 11.9% | 10.8% | 20.7% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.42 | 0.42 | 0.26 | 0.29 | 0.31 | 0.32 |
| Dividends/Share | $9.32 | $9.30 | $8.30 | $7.10 | $6.30 | $4.64 |
| Operating Income | 169M | 169M | 182M | 151M | 197M | 325M |
| Operating Margin | 19.8% | 19.8% | 20.1% | 17.9% | 22.3% | 33.2% |
| ROE | 14.8% | 15.1% | 13.8% | 15.5% | 14.3% | 27.0% |
| Shares Outstanding | 7M | 7M | 7M | 7M | 8M | 8M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 451M | 382M | 323M | 426M | 552M | 563M | 604M | 979M | 886M | 845M | 907M | 853M | 853M |
| Gross Margin | 62.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 140M | 137M | 136M | 191M | 239M | 241M | 267M | 358M | 371M | 405M | 433M | 401M | 401M |
| EBIT | 131M | 80M | 51M | 58M | 113M | 125M | 143M | 325M | 197M | 151M | 182M | 169M | 169M |
| Op. Margin | 29.0% | 21.0% | 15.8% | 13.6% | 20.5% | 22.1% | 23.7% | 33.2% | 22.3% | 17.9% | 20.1% | 19.8% | 19.8% |
| Net Income | 98M | 35M | 49M | 29M | 67M | 87M | 80M | 208M | 118M | 131M | 122M | 138M | 138M |
| Net Margin | 21.7% | 9.2% | 15.0% | 6.7% | 12.2% | 15.5% | 13.2% | 21.3% | 13.3% | 15.5% | 13.4% | 16.2% | 16.2% |
| Non-Recurring | 294K | 0 | 7.4M | 10M | 48K | 2.3M | 1.2M | 0 | 4.0M | 824K | 1.5M | 693K | 693K |
| Returns on Capital | |||||||||||||
| ROIC | 18.5% | 6.5% | 11.7% | 4.9% | 8.5% | 12.4% | 10.1% | 20.7% | 10.8% | 11.9% | 10.8% | 11.3% | 14.6% |
| ROE | 18.5% | 6.5% | 11.7% | 6.3% | 11.0% | 13.4% | 11.5% | 27.0% | 14.3% | 15.5% | 13.8% | 15.1% | 14.8% |
| ROA | 14.5% | 4.5% | 5.8% | 1.7% | 2.5% | 2.9% | 2.4% | 5.6% | 3.0% | 3.4% | 3.2% | 3.3% | 3.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -59M | -209M | 21M | -183M | -63M | -37M | -226M | 666M | 133M | 237M | 1.8M | -67M | -67M |
| Free Cash Flow | -61M | -214M | 19M | -184M | -74M | -44M | -227M | 660M | 126M | 228M | -3.8M | -74M | -74M |
| Owner Earnings | -75M | -228M | 3.2M | -222M | -119M | -99M | -286M | 589M | 40M | 140M | -100M | -155M | -155M |
| CapEx | 2.4M | 4.7M | 2.0M | 1.5M | 12M | 7.6M | 1.0M | 5.8M | 6.6M | 8.8M | 5.6M | 6.9M | 6.9M |
| Maint. CapEx | 6.8M | 7.0M | 5.8M | 18M | 33M | 40M | 39M | 51M | 69M | 70M | 69M | 64M | 64M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 6.8M | 7.0M | 5.8M | 18M | 33M | 40M | 39M | 51M | 69M | 70M | 69M | 64M | 64M |
| CapEx/OCF | N/A | N/A | 6.6% | N/A | N/A | N/A | N/A | 0.9% | 5.0% | 3.7% | 317.9% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 8.2M | 16M | 14M | 13M | 14M | 17M | 23M | 31M | 47M | 52M | 58M | 65M | 65M |
| Dividend Yield | 0.6% | 1.9% | 2.5% | 2.0% | 1.9% | 2.6% | 2.6% | 1.7% | 3.5% | 3.9% | 3.8% | 5.3% | 5.6% |
| Share Buybacks | 40M | 80M | 234M | 7.5M | 28M | 40M | 33M | 57M | 90M | 45M | 45M | 60M | 60M |
| Buyback Yield | 3.4% | 9.6% | 32.0% | 1.2% | 5.6% | 5.3% | 2.3% | 2.8% | 7.3% | 2.7% | 2.9% | 5.2% | 5.2% |
| Stock-Based Comp | 9.8M | 12M | 12M | 20M | 23M | 22M | 21M | 26M | 24M | 27M | 33M | 24M | 24M |
| Debt Repayment | 0 | 0 | 0 | 650K | 24M | 55M | 79M | 13M | 13M | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -254M | -139M | -128M | 76M | -99M | -222M | -139M | -320M | -334M | -88M | -170M | -91M | -88M |
| Cash & Equiv. | 203M | 97M | 83M | 132M | 202M | 222M | 340M | 586M | 589M | 341M | 400M | 478M | 478M |
| Long-Term Debt | N/A | 0 | 0 | 260M | 105M | 0 | 201M | 266M | 255M | 253M | 232M | 390M | 390M |
| Debt/Equity | 0.00 | 0.00 | 0.09 | 0.39 | 0.17 | 0.00 | 0.28 | 0.32 | 0.31 | 0.29 | 0.26 | 0.42 | 0.42 |
| Interest Coverage | 243.4 | 153.7 | 121.0 | 7.1 | 9.5 | 6.9 | 16.2 | 50.2 | 17.7 | 6.8 | 9.0 | 8.8 | 8.8 |
| Equity | 564M | 510M | 322M | 589M | 630M | 676M | 711M | 828M | 817M | 864M | 897M | 934M | 934M |
| Total Assets | 699M | 860M | 824M | 2.6B | 2.9B | 3.2B | 3.5B | 3.9B | 4.0B | 3.7B | 4.0B | 4.3B | 4.3B |
| Total Liabilities | 112M | 276M | 465M | 2.0B | 2.2B | 2.5B | 2.6B | 3.0B | 3.0B | 2.7B | 3.0B | 3.3B | 3.3B |
| Intangibles | 42M | 41M | 38M | 302M | 339M | 310M | 280M | 501M | 443M | 432M | 378M | 327M | 327M |
| Retained Earnings | -508M | -473M | -424M | -386M | -311M | -215M | -135M | 61M | 130M | 207M | 268M | 341M | 341M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 10.51 | 3.92 | 6.20 | 3.96 | 8.86 | 11.74 | 10.02 | 26.01 | 15.50 | 17.71 | 16.89 | 19.97 | 19.97 |
| Owner EPS | -8.11 | -25.49 | 0.41 | -30.59 | -15.70 | -13.26 | -35.90 | 73.57 | 5.28 | 19.02 | -13.89 | -22.34 | -22.34 |
| Book Value | 60.62 | 56.91 | 41.12 | 81.28 | 83.06 | 90.85 | 89.12 | 103.51 | 107.74 | 117.13 | 124.51 | 134.78 | 134.78 |
| Cash Flow/Share | -6.33 | -23.39 | 2.67 | -25.25 | -8.25 | -4.94 | -28.33 | 83.20 | 17.50 | 32.15 | 0.24 | -9.70 | 29.15 |
| Dividends/Share | 0.88 | 1.80 | 1.80 | 1.80 | 2.00 | 2.44 | 2.98 | 4.64 | 6.30 | 7.10 | 8.30 | 9.30 | 9.32 |
| Shares Out. | 9.3M | 9.0M | 7.8M | 7.2M | 7.6M | 7.4M | 8.0M | 8.0M | 7.6M | 7.4M | 7.2M | 6.9M | 6.9M |
| Valuation | |||||||||||||
| P/E Ratio | 12.1 | 23.7 | 15.1 | 22.7 | 7.3 | 8.6 | 18.0 | 9.8 | 10.5 | 12.8 | 12.5 | 8.3 | 8.3 |
| P/FCF | N/A | N/A | 38.6 | N/A | N/A | N/A | N/A | 3.1 | 9.8 | 7.3 | N/A | N/A | N/A |
| EV/EBIT | 5.9 | 9.8 | 11.7 | 10.9 | 3.7 | 4.7 | 9.7 | 5.9 | 5.8 | 11.1 | 8.2 | 6.9 | 6.3 |
| Price/Book | 2.1 | 1.6 | 2.3 | 1.1 | 0.8 | 1.1 | 2.0 | 2.5 | 1.5 | 1.9 | 1.7 | 1.2 | 1.2 |
| Price/Sales | 2.9 | 2.3 | 1.7 | 1.5 | 1.3 | 1.1 | 1.4 | 1.9 | 1.5 | 1.6 | 1.7 | 1.4 | 1.3 |
| FCF Yield | -5.2% | -25.8% | 2.6% | -28.4% | -15.2% | -5.9% | -15.8% | 32.2% | 10.2% | 13.7% | -0.3% | -6.4% | -6.5% |
| Market Cap | 1.2B | 831M | 730M | 650M | 487M | 752M | 1.4B | 2.0B | 1.2B | 1.7B | 1.5B | 1.2B | 1.1B |
| Avg. Price | 139.95 | 96.57 | 70.26 | 88.21 | 95.06 | 86.74 | 108.93 | 237.61 | 177.90 | 178.86 | 211.58 | 176.73 | 165.66 |
| Year-End Price | 127.31 | 92.76 | 93.32 | 89.76 | 64.24 | 101.06 | 180.37 | 255.78 | 163.28 | 226.74 | 211.72 | 166.43 | 165.66 |
VIRTUS INVESTMENT PARTNERS, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
VIRTUS INVESTMENT PARTNERS, INC. trades at 8.3x trailing earnings, compared to its 15-year median P/E of 11.5x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 13.1%. Total shareholder yield (dividends + buybacks) is 10.9%. At current prices, the estimated annualized return to fair value is -18.0%.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) reported annual revenue of $853 million in its most recent fiscal year, based on SEC EDGAR filings.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a net profit margin of 16.2%. This is a healthy margin.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) generated $-74 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a debt-to-equity ratio of 0.42. This indicates a conservatively financed balance sheet.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) reported earnings per share (EPS) of $19.97 in its most recent fiscal year.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a return on equity (ROE) of 15.1%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 17 years of financial data for VIRTUS INVESTMENT PARTNERS, INC. (VRTS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VIRTUS INVESTMENT PARTNERS, INC. (VRTS) has a book value per share of $134.78, based on its most recent annual SEC filing.