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Virtus Investment Partners, Inc.

VRTS Financial Asset Management

Virtus Investment Partners, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $852.9 million, down 5.96% from fiscal 2024.

Revenue
−4.35%
EPS
+9.87%
Free cash flow
−24.4%
Total debt
+81.0%

Quarter to June 2026, against a year earlier

127.03 2.16 +1.73%
Market cap
$827.0M
P/E
7.0×
Fwd P/E
0.0×
Dividend yield
7.74%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.52
Sold, $m 4.26
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell 1 — 1 — — — 1 — 1 1 — —
Insider Ownership 7.05%

Capital & Financial Ratios $m

Size
Market Cap 826.98
Revenue ttm 825.31
Net income ttm 115.95
Free cash flow ttm (51.89)
Net debt Q (2,596.63)
Valuation
P/E 6.99
Forward P/E 0.00
Price / sales 1.01
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.88
Financial health
Current ratio Q 10.54
Debt / equity Q 0.44
Interest coverage Q 0.67
Growth
Revenue growth Q −4.35% (below 0%: shrinking)
Operating income growth Q −39.56% (below 0%: shrinking)
EPS, this year −10.80% (below 0%: weak)
EPS, next year A −3.14% (below 0%: weak)
Revenue, next year A −15.68% (below 0%: weak)
EPS, past 5 yrs +14.79%
EPS, next 5 yrs A −2.83% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 3.37%
10-year low 10-year high
P/S against its own 10 years 1.69%
10-year low 10-year high
P/B against its own 10 years 1.17%
10-year low 10-year high

Dividends raised every year since 2018

Yield
7.74%
Annual rate
9.65
Payout ratio
55.0%
Growth, 2018–26
+22.5%/yr
  1. 1.90 ’18
  2. 2.32 ’19 +22
  3. 2.83 ’20 +22
  4. 3.96 ’21 +40
  5. 6.15 ’22 +55
  6. 6.85 ’23 +11
  7. 7.95 ’24 +16
  8. 9.15 ’25 +15
  9. 9.65 ’26 +5
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,556 2,965 3,310 3,015
Receivables 109 117 103 102
Inventory — — — —
Other 43 174 — 25
2,709 3,082 3,412 3,141
2023 2024 2025 Q'26
Payables 56 49 55 52
ST’ Debt — — — —
Other — — — 152
257 274 252 298

Compound Annual Growth %

10y 5y 3y
Sales 8.36% 7.15% (1.28%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 14.70% 11.60% 5.60%
Book Value 6.26% 5.33% 4.34%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 6.09 Actual 5.54

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 6.71 6.69 Miss by 0.02
Q4 FY25 6.41 6.50 Beat by 0.09
Q1 FY26 5.56 5.38 Miss by 0.18
Q2 FY26 6.09 5.54 Miss by 0.55
Q3 FY26 5.78 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.05 6.68 — — —
’25 4.05 6.12 4.65 5.17 19.97
’24 4.10 2.43 5.71 4.66 16.89
’23 5.21 4.10 4.19 4.21 17.71
’22 4.22 2.29 4.25 4.77 15.50
’21 4.54 7.86 7.36 6.29 26.01
’20 (0.58) 1.43 3.71 5.40 10.02
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 200 201 — — —
’25 218 211 216 208 853
’24 222 224 227 233 907
’23 198 214 219 215 845
’22 252 225 210 198 886
’21 217 244 252 266 979
’20 145 133 155 172 604
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 36 57 — — —
’25 (4) 76 108 (247) (67)
’24 (35) 70 69 (103) 2
’23 (43) 145 128 7 237
’22 (82) 119 117 (22) 133
’21 150 89 184 242 666
’20 (252) (197) 69 154 (226)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 34 56 — — —
’25 (7) 74 107 (248) (74)
’24 (36) 69 69 (105) (4)
’23 (44) 144 124 5 228
’22 (84) 118 116 (23) 126
’21 148 87 184 241 660
’20 (253) (198) 69 154 (227)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 323 426 552 563 604 979 886 845 907 853 825 +11.4% 719 678 663 (8.1%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 70 80 109 141 164 354 164 187 208 187 158 +11.6%
EBT margin, % 21.64 18.90 19.75 24.98 27.14 36.12 18.49 22.07 22.92 21.96 19.15 +0.3 pt
Net income 49 40 76 106 120 263 107 141 152 136 116 +12.1%
Per share, $
Per share, $ Revenue 42.17 60.69 76.98 80.89 79.25 127.64 119.93 116.60 128.06 124.89 123.73 +12.8%
Earnings 6.34 4.09 9.37 12.54 10.49 27.13 15.90 18.02 17.19 20.27 17.84 +13.8%
Cash flow 2.74 (26.07) (8.72) (5.27) (29.67) 86.77 17.95 32.72 0.25 (9.84) (6.87) n/m
Capex (0.26) (0.22) (1.63) (1.08) (0.14) (0.76) (0.89) (1.22) (0.79) (1.01) (0.91) +16.0%
Free cash flow 2.47 (26.29) (10.35) (6.36) (29.81) 86.01 17.06 31.50 (0.54) (10.85) (7.78) n/m
Book value 42.06 86.30 89.75 98.56 94.61 109.05 111.34 119.78 127.31 136.89 141.88 +14.0%
Shares, m 8 7 7 7 8 8 7 7 7 7 7 (1.3%)
Valuation, ×
Valuation, × P/E 18.85 27.81 8.50 9.71 20.85 10.94 12.19 13.07 12.82 8.04 6.99 14.3
P/S 2.88 1.89 1.03 1.50 2.74 2.33 1.62 2.02 1.72 1.31 1.01 1.9
P/B 2.89 1.63 1.07 1.47 2.29 2.72 1.74 1.97 1.73 1.19 0.88 1.9
EV/Sales 0.90 (1.50) (1.70) (2.31) (1.10) 0.01 (1.05) (0.40) (1.01) (1.77) — (1.0)
EV/FCF 15.28 3.46 12.65 29.36 2.93 0.02 (7.41) (1.50) 239.89 20.41 — 31.5
Cash, $m
Cash, $m Operating cash flow 21 (183) (63) (37) (226) 666 133 237 2 (67) (46) n/m
Capex (2) (2) (12) (8) (1) (6) (7) (9) (6) (7) (6) +14.6%
Free cash flow 19 (184) (74) (44) (227) 660 126 228 (4) (74) (52) n/m
Balance, $m
Balance, $m Working capital 695 1,883 1,707 2,399 2,464 2,486 2,538 2,452 2,808 3,160 2,843 +18.3%
Net debt (641) (1,692) (1,429) (2,147) (2,320) (2,267) (2,311) (2,303) (2,732) (2,920) (2,597) +18.3%
Shareholders’ equity 322 605 644 686 721 837 823 868 902 935 946 +12.6%
Returns, %
Returns, % ROA 5.76 1.68 2.46 2.87 2.40 5.62 2.98 3.42 3.17 3.34 2.91 (2.4) pt
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE 11.67 7.03 13.08 15.75 12.34 26.73 14.17 15.45 13.76 15.07 12.99 +3.4 pt
People
People Employees 406 543 577 578 581 668 772 824 805 801 — +7.8%
Revenue/emp, $m 0.79 0.78 0.96 0.97 1.04 1.47 1.15 1.03 1.13 1.06 — +3.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Virtus Investment Partners, Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BBDC BARINGS BDC, INC. $915.1M 10.3× 9.9× −11.20% (below 0%: shrinking) +9.09% (above 0%: growing) −250.65% (below 0%: shrinking) 100.00% 0.00% Compare
BUR Burford Capital Limited $869.6M — (loss-making) — (loss-making) +110.46% (above 0%: growing) n/m −531.48% (below 0%: shrinking) 100.00% 66.57% Compare
MFIC MidCap Financial Investment Corporation $846.0M — (loss-making) 56.7× −24.94% (below 0%: shrinking) n/m +21.89% (above 0%: growing) 100.00% 0.00% Compare
KBDC Kayne Anderson BDC, Inc. $841.3M 15.2× 10.9× −2.78% (below 0%: shrinking) −71.43% (below 0%: shrinking) +221.15% (above 0%: growing) 86.61% 84.68% Compare
VRTS Virtus Investment Partners, Inc. $827.0M 7.0× — (loss-making) −4.35% (below 0%: shrinking) +9.87% (above 0%: growing) −24.42% (below 0%: shrinking) 100.00% 13.57%
FDUS Fidus Investment Corporation $775.5M 9.4× 9.4× +23.25% (above 0%: growing) −3.24% (below 0%: shrinking) +118.22% (above 0%: growing) 100.00% 71.60% Compare
CGBD Carlyle Secured Lending, Inc. $749.3M 20.7× 16.5× −4.97% (below 0%: shrinking) n/m +7.08% (above 0%: growing) 100.00% 0.00% Compare
PSEC Prospect Capital Corporation $739.3M — (loss-making) 4.2× −3.73% (below 0%: shrinking) n/m +36.81% (above 0%: growing) 74.32% 70.51% Compare
BCSF Bain Capital Specialty Finance, Inc. $724.6M 11.3× 10.3× −12.14% (below 0%: shrinking) −40.54% (below 0%: shrinking) +10,857.59% (above 0%: growing) 100.00% 80.20% Compare
Median of peers $808.4M 11.3× 10.3× −4.35% −21.89% +29.35% 100.00% 68.54%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 7 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.31m 5.01m 88.96
2024 6.86m 2.57m 114.18
2023 6.62m 8.96m 120.84
2022 6.52m (4.24m) 92.33
2021 8.61m 17.31m 138.92

Ownership

Directors and executive officers, together 6.40%
BlackRock, Inc. 15.00%
The Vanguard Group, Inc. 14.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Virtus Investment Partners, Inc. (VRTS) Latest News

28 Oct

Impact 3 · · Business Wire

27 Oct

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13 Oct

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17 Sep

Impact 4 ·

17 Aug

Impact 3 ·

30 Jul

Impact 3 · transcript
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2 May

Impact 4 · · GuruFocus.com

1 May

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24 Apr

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22 Apr

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15 Apr

Impact 4 · · Business Wire

1 Apr

Impact 4 ·
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25 Mar

Impact 4 · · TMX Newsfile

24 Mar

Impact 4 · · TMX Newsfile

2 Mar

Impact 4 · · Business Wire

12 Feb

Impact 3 · · 24/7 Wall St.

11 Feb

Impact 3 · · Business Wire

6 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · ZacksZacksZacksMT NewswiresZacksZacksSimply Wall St.Zacks
Impact 4 · · Associated Press Finance
Impact 3 · · Zacks
stockrow.com/VRTS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com