VIRT
Virtu Financial, Inc.
VIRT's fundamentals are strong: revenue grew 26% and its operating margin rose 5 points to 32%. At 8.8x earnings, it's trading right at its usual valuation. Analysts expect earnings growth.
VIRT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
VIRT's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like VIRT.
VIRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.6x | $45.25 | -24% |
| Forward | 8.2x | $59.61 | — |
| Current | 8.8x | $59.61 | — |
| Fair | 8.9x | $60.51 | +1.5% |
| Expensive | 15x | $103 | +72% |
Historical ranges are pointers, not guarantees.
VIRT's PE is in its fair range at 8.8x. If earnings grow as analysts expect, today's price would be 8.2x next year's earnings.
VIRT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for VIRT, but weaker profitability.
VIRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.30 | +7.1% |
| Q3 2026 | $6.81 | +47% |
| Q2 2026 | $6.02 | +37% |
| Q1 2026 | $6.04 | +75% |
| Q4 2025 | $5.13 | +73% |
| Q3 2025 | $4.62 | +130% |
| Q2 2025 | $4.40 | +120% |
| Q1 2025 | $3.46 | +139% |
| Q4 2024 | $2.97 | +109% |
VIRT's earnings per share have climbed steadily: $6.81 over the past year, up 47% from the year before, and higher year over year for 10 quarters in a row.
VIRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +40% |
| Q2 2026 | $1.2B | +19% |
| Q1 2026 | $1.1B | +31% |
| Q4 2025 | $969.9M | +16% |
| Q3 2025 | $824.8M | +17% |
| Q2 2025 | $999.6M | +44% |
| Q1 2025 | $837.9M | +30% |
| Q4 2024 | $834.3M | +56% |
VIRT's revenue has grown year over year for 13 quarters in a row: $1.2B last quarter, up 40% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +6.9 points |
| Q2 2026 | 29% | -5.9 points |
| Q1 2026 | 37% | +11 points |
| Q4 2025 | 35% | +11 points |
| Q3 2025 | 22% | +1 points |
| Q2 2025 | 35% | +12 points |
| Q1 2025 | 27% | +4.9 points |
| Q4 2024 | 24% | +21 points |
VIRT's operating margin was 29% last quarter, up 6.9 points from the same quarter a year ago.
VIRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $281M | +$357.7M |
| Q2 2026 | $98.1M | +70% |
| Q1 2026 | -$5.8M | -162% |
| Q4 2025 | $505.5M | +29% |
| Q3 2025 | -$76.7M | -172% |
| Q2 2025 | $57.6M | -88% |
| Q1 2025 | $9.2M | +$407.5M |
| Q4 2024 | $391.7M | +17% |
VIRT's free cash flow was $879M over the past year, up 130% from the year before. Free cash flow isn't a meaningful measure for financial services companies like VIRT.
VIRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +861K shares |
| 1 year | +4.3% | +3.7M shares |
| 3 years | -5.3% | -4.9M shares |
| 5 years | -24% | -28.2M shares |
| Available history | -22% | -25.5M shares |
VIRT has 88M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $1.6M |
| Q2 2024 | — |
VIRT hasn't bought back shares in the past year.
VIRT Net Leverage
VIRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.8 | Neutral |
| Stochastic | 24.4 | Neutral |
VIRT's weekly RSI is 55 (neutral) and its Stochastic is 24 (neutral).
VIRT PE vs Financial Services Sector
| Metric | VIRT | Sector median | Relative |
|---|---|---|---|
| PE | 8.8x | 13x | 33% below |
| PE % | 47 | 63 | 16 pts below |
VIRT is trading at 8.8x earnings, a 33% discount to the Financial Services sector's median of 13x.
VIRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.2 | 6% above |
| 20 week MA | $59.2 | 0.6% above |
| 50 week MA | $50.2 | 19% above |
| 100 week MA | $44.3 | 34% above |
| 200 week MA | $33.2 | 80% above |
VIRT is in an uptrend: it's above all five of its weekly moving averages, and 80% above its 200-week average.
VIRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.0 | $25.1 | +57% |
| 2021 | $25.1 | $28.4 | +13% |
| 2022 | $28.4 | $20.8 | -27% |
| 2023 | $20.8 | $20.3 | -2.8% |
| 2024 | $20.3 | $36.6 | +81% |
| 2025 | $36.6 | $34.1 | -6.8% |
| 2026 YTD | $34.1 | $59.6 | +75% |
VIRT is up 75% so far in 2026, after finishing lower in three of the previous six years.