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VIRTUS INVESTMENT PARTNERS, INC.

VRTS Clue Score47
United States Fiscal year ends December CIK 0000883237
$131.22 -0.28% Close, 9 Oct 2026
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Price $131.22 −58.66% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue322.6Operating income50.8Net income48.5EPS, diluted6.20Fiscal year 2017Revenue425.6 +31.9%Operating income58.0Net income37.0 −23.7%EPS, diluted3.96 −36.1%Fiscal year 2018Revenue552.2 +29.8%Operating income113.1Net income75.5 +104.1%EPS, diluted8.86 +123.7%Fiscal year 2019Revenue563.2 +2.0%Operating income124.7Net income95.6 +26.6%EPS, diluted11.74 +32.5%Fiscal year 2020Revenue603.9 +7.2%Operating income143.2Net income80.0 −16.4%EPS, diluted10.02 −14.7%Fiscal year 2021Revenue979.2 +62.2%Operating income325.5Net income208.1 +160.3%EPS, diluted26.01 +159.6%Fiscal year 2022Revenue886.4 −9.5%Operating income197.5EPS, diluted15.50 −40.4%Fiscal year 2023Revenue845.3 −4.6%Operating income151.5EPS, diluted17.71 +14.3%Fiscal year 2024Revenue906.9 +7.3%Operating income182.5EPS, diluted16.89 −4.6%Fiscal year 2025Revenue852.9 −6.0%Operating income168.7EPS, diluted19.97 +18.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 322.6 425.6 552.2 563.2 603.9 979.2 886.4 845.3 906.9 852.9
Growth +31.9% +29.8% +2.0% +7.2% +62.2% −9.5% −4.6% +7.3% −6.0%
Operating income 50.8 58.0 113.1 124.7 143.2 325.5 197.5 151.5 182.5 168.7
Net income 48.5 37.0 75.5 95.6 80.0 208.1 n/a n/a n/a n/a
Growth −23.7% +104.1% +26.6% −16.4% +160.3%
EPS, diluted 6.20 3.96 8.86 11.74 10.02 26.01 15.50 17.71 16.89 19.97
Growth −36.1% +123.7% +32.5% −14.7% +159.6% −40.4% +14.3% −4.6% +18.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin15.8%Net margin15.0%Free cash flow margin5.9%Fiscal year 2017Operating margin13.6%Net margin8.7%Free cash flow margin−43.3%Fiscal year 2018Operating margin20.5%Net margin13.7%Free cash flow margin−13.4%Fiscal year 2019Operating margin22.1%Net margin17.0%Free cash flow margin−7.9%Fiscal year 2020Operating margin23.7%Net margin13.2%Free cash flow margin−37.6%Fiscal year 2021Operating margin33.2%Net margin21.3%Free cash flow margin67.4%Fiscal year 2022Operating margin22.3%Free cash flow margin14.2%Fiscal year 2023Operating margin17.9%Free cash flow margin27.0%Fiscal year 2024Operating margin20.1%Free cash flow margin−0.4%Fiscal year 2025Operating margin19.8%Free cash flow margin−8.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 15.8% 13.6% 20.5% 22.1% 23.7% 33.2% 22.3% 17.9% 20.1% 19.8%
Net margin 15.0% 8.7% 13.7% 17.0% 13.2% 21.3% n/a n/a n/a n/a
Free cash flow margin 5.9% −43.3% −13.4% −7.9% −37.6% 67.4% 14.2% 27.0% −0.4% −8.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow20.9Capital expenditure−2.0Free cash flow18.9Buybacks−233.8Dividends paid−13.8Fiscal year 2017Operating cash flow−182.9Capital expenditure−1.5Free cash flow−184.4 −1,075.8%Buybacks−7.5Dividends paid−12.6Fiscal year 2018Operating cash flow−62.6Capital expenditure−11.7Free cash flow−74.3Buybacks−27.5Dividends paid−14.0Fiscal year 2019Operating cash flow−36.7Capital expenditure−7.6Free cash flow−44.3Buybacks−40.0Dividends paid−17.0Fiscal year 2020Operating cash flow−226.1Capital expenditure−1.0Free cash flow−227.1Buybacks−32.5Dividends paid−22.8Fiscal year 2021Operating cash flow665.7Capital expenditure−5.8Free cash flow659.9Buybacks−57.5Dividends paid−31.4Fiscal year 2022Operating cash flow132.7Capital expenditure−6.6Free cash flow126.1 −80.9%Buybacks−90.0Dividends paid−47.3Fiscal year 2023Operating cash flow237.2Capital expenditure−8.8Free cash flow228.3 +81.1%Buybacks−45.0Dividends paid−52.0Fiscal year 2024Operating cash flow1.8Capital expenditure−5.6Free cash flow−3.8 −101.7%Buybacks−44.9Dividends paid−58.1Fiscal year 2025Operating cash flow−67.2Capital expenditure−6.9Free cash flow−74.1Buybacks−60.0Dividends paid−64.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 20.9 −182.9 −62.6 −36.7 −226.1 665.7 132.7 237.2 1.8 −67.2
Capital expenditure −2.0 −1.5 −11.7 −7.6 −1.0 −5.8 −6.6 −8.8 −5.6 −6.9
Free cash flow 18.9 −184.4 −74.3 −44.3 −227.1 659.9 126.1 228.3 −3.8 −74.1
Growth −1,075.8% −80.9% +81.1% −101.7%
Buybacks −233.8 −7.5 −27.5 −40.0 −32.5 −57.5 −90.0 −45.0 −44.9 −60.0
Dividends paid −13.8 −12.6 −14.0 −17.0 −22.8 −31.4 −47.3 −52.0 −58.1 −64.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash82.7Total debt30.0Net cash (debt)52.7Shareholders’ equity321.7Debt to equity0.09Fiscal year 2017Cash132.2Total debt248.3Net cash (debt)−116.2Shareholders’ equity588.6Debt to equity0.42Fiscal year 2018Cash201.7Total debt329.2Net cash (debt)−127.5Shareholders’ equity629.9Debt to equity0.52Fiscal year 2019Cash221.8Total debt277.8Net cash (debt)−56.1Shareholders’ equity675.7Debt to equity0.41Fiscal year 2020Cash339.8Total debt201.2Net cash (debt)138.6Shareholders’ equity711.1Debt to equity0.28Fiscal year 2021Cash586.1Total debt266.3Net cash (debt)319.8Shareholders’ equity828.3Debt to equity0.32Fiscal year 2022Cash589.2Total debt255.0Net cash (debt)334.2Shareholders’ equity817.0Debt to equity0.31Fiscal year 2023Cash341.0Total debt253.4Net cash (debt)87.6Shareholders’ equity863.9Debt to equity0.29Fiscal year 2024Cash400.3Total debt232.1Net cash (debt)168.2Shareholders’ equity897.5Debt to equity0.26Fiscal year 2025Cash478.2Total debt390.0Net cash (debt)88.2Shareholders’ equity934.0Debt to equity0.42
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 82.7 132.2 201.7 221.8 339.8 586.1 589.2 341.0 400.3 478.2
Total debt 30.0 248.3 329.2 277.8 201.2 266.3 255.0 253.4 232.1 390.0
Net cash (debt) 52.7 −116.2 −127.5 −56.1 138.6 319.8 334.2 87.6 168.2 88.2
Shareholders’ equity 321.7 588.6 629.9 675.7 711.1 828.3 817.0 863.9 897.5 934.0
Debt to equity 0.09 0.42 0.52 0.41 0.28 0.32 0.31 0.29 0.26 0.42

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
322.6 425.6 552.2 563.2 603.9 979.2 886.4 845.3 906.9 852.9
Growth +31.9% +29.8% +2.0% +7.2% +62.2% −9.5% −4.6% +7.3% −6.0%
50.8 58.0 113.1 124.7 143.2 325.5 197.5 151.5 182.5 168.7
Growth +14.2% +94.9% +10.3% +14.8% +127.4% −39.3% −23.3% +20.5% −7.6%
69.8 80.4 109.0 140.7 163.9 353.7 163.9 186.6 207.9 187.2
21.0 40.5 33.0 35.2 43.9 90.8 57.3 45.1 55.4 51.3
48.5 37.0 75.5 95.6 80.0 208.1 n/a n/a n/a n/a
Growth −23.7% +104.1% +26.6% −16.4% +160.3%
Per share
6.34 4.09 9.37 12.54 10.49 27.13 15.90 18.02 17.19 20.27
6.20 3.96 8.86 11.74 10.02 26.01 15.50 17.71 16.89 19.97
Growth −36.1% +123.7% +32.5% −14.7% +159.6% −40.4% +14.3% −4.6% +18.2%
7.6 7.0 7.2 7.0 7.6 7.7 7.4 7.2 7.1 6.8
7.8 7.2 8.5 8.1 8.0 8.0 7.6 7.4 7.2 6.9
Growth −7.4% +17.7% −4.4% −2.1% +0.3% −5.3% −2.7% −2.2% −3.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.1% a year over five years, and earnings per share grew 14.8% a year.
  • The diluted share count fell 13.1% in five years, so buybacks did some of the work per share.
  • Operating margin is down 3.9 points on five years ago, at 19.8%.
  • Profitable in every one of the 6 years on file.