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Virtu Financial

DB:0VF
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0VF
DB
$4B
Imp Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Virtu Financial, Inc., together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The last earnings update was 33 days ago. More info.


Add to Portfolio Compare Print
  • Virtu Financial has significant price volatility in the past 3 months.
0VF Share Price and Events
7 Day Returns
-3.1%
DB:0VF
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
-16.1%
DB:0VF
-6.9%
DE Capital Markets
-17.2%
DE Market
0VF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Virtu Financial (0VF) -3.1% 8.7% 32.4% -16.1% 25.3% -
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • 0VF underperformed the Capital Markets industry which returned -6.9% over the past year.
  • 0VF outperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
0VF
Industry
5yr Volatility vs Market
Related Companies

0VF Value

 Is Virtu Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Virtu Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Virtu Financial.

DB:0VF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $11.95 * 9.9%
$1.18
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $11.95
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:0VF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 21%) (108.45%))
1.267
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.267 * 5.44%)
6.5%

Discounted Cash Flow Calculation for DB:0VF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Virtu Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:0VF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.9% – 6.5%) * $11.95)
$0.40
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.40 / (6.5% - -0.39%)
$5.85
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $11.95 + $5.85
$17.8
DB:0VF Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:0VF represents 0.88554x of NasdaqGS:VIRT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88554x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 17.80 x 0.88554
€15.77
Value per share (EUR) From above. €15.77
Current discount Discount to share price of €18.80
= -1 x (€18.80 - €15.77) / €15.77
-19.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Virtu Financial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Virtu Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Virtu Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:0VF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.53
NasdaqGS:VIRT Share Price ** NasdaqGS (2020-04-01) in USD $21.23
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Virtu Financial.

DB:0VF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VIRT Share Price ÷ EPS (both in USD)

= 21.23 ÷ -0.53

-39.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Virtu Financial is loss making, we can't compare its value to the DE Capital Markets industry average.
  • Virtu Financial is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Virtu Financial's expected growth come at a high price?
Raw Data
DB:0VF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -39.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
40.2%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Virtu Financial, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Virtu Financial's assets?
Raw Data
DB:0VF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.88
NasdaqGS:VIRT Share Price * NasdaqGS (2020-04-01) in USD $21.23
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:0VF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VIRT Share Price ÷ Book Value per Share (both in USD)

= 21.23 ÷ 7.88

2.7x

* Primary Listing of Virtu Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Virtu Financial is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Virtu Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Virtu Financial has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0VF Future Performance

 How is Virtu Financial expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
40.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Virtu Financial expected to grow at an attractive rate?
  • Virtu Financial's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Virtu Financial's earnings growth is expected to exceed the Germany market average.
  • Virtu Financial's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:0VF Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:0VF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 40.2%
DB:0VF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts -0.7%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:0VF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:0VF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,175 302 2
2021-12-31 1,226 275 8
2020-12-31 1,335 301 8
2020-04-01
DB:0VF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,208 169 -61
2019-09-30 1,293 55 37
2019-06-30 1,218 27 50
2019-03-31 1,183 386 105
2018-12-31 1,313 715 284
2018-09-30 1,251 388 215
2018-06-30 1,220 518 193
2018-03-31 1,064 377 169
2017-12-31 766 291 2
2017-09-30 600 268 -2
2017-06-30 532 237 19
2017-03-31 568 220 26

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Virtu Financial's earnings are expected to grow significantly at over 20% yearly.
  • Virtu Financial's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:0VF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Virtu Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0VF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.54 1.54 1.54 1.00
2021-12-31 1.39 1.39 1.39 1.00
2020-12-31 1.20 1.20 1.20 1.00
2020-04-01
DB:0VF Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.53
2019-09-30 0.34
2019-06-30 0.46
2019-03-31 1.00
2018-12-31 2.82
2018-09-30 2.22
2018-06-30 2.15
2018-03-31 2.25
2017-12-31 0.03
2017-09-30 -0.04
2017-06-30 0.47
2017-03-31 0.67

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Virtu Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Virtu Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Virtu Financial has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0VF Past Performance

  How has Virtu Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Virtu Financial's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Virtu Financial does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Virtu Financial's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Virtu Financial's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Virtu Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Virtu Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0VF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,207.58 -60.52 280.95
2019-09-30 1,292.55 37.24 308.27
2019-06-30 1,218.12 50.20 267.18
2019-03-31 1,183.21 105.37 227.15
2018-12-31 1,313.19 284.02 207.59
2018-09-30 1,250.80 215.19 218.63
2018-06-30 1,219.58 193.17 206.89
2018-03-31 1,064.31 168.92 195.35
2017-12-31 766.38 1.61 140.30
2017-09-30 600.38 -2.00 101.06
2017-06-30 531.70 18.66 90.60
2017-03-31 567.95 26.27 86.03
2016-12-31 615.01 32.17 88.20
2016-09-30 623.44 33.25 90.52
2016-06-30 677.31 38.72 94.94
2016-03-31 682.18 31.01 88.62
2015-12-31 714.54 20.89 92.26
2015-09-30 751.13 81.69 93.00
2015-06-30 709.05 110.80 89.53
2015-03-31 694.16 141.17 91.59
2014-12-31 645.08 190.06 86.25
2013-12-31 584.64 182.20 80.66
2013-09-30 583.03 173.68 81.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Virtu Financial has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Virtu Financial has efficiently used its assets last year compared to the DE Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Virtu Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Virtu Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Virtu Financial has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0VF Health

 How is Virtu Financial's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Virtu Financial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Virtu Financial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Virtu Financial's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Virtu Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Virtu Financial Company Filings, last reported 3 months ago.

DB:0VF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,228.94 3,935.30 5,619.74
2019-09-30 1,296.72 3,407.43 4,667.40
2019-06-30 1,351.87 3,167.65 4,826.86
2019-03-31 1,436.65 3,251.69 5,029.30
2018-12-31 1,494.70 2,345.91 4,791.13
2018-09-30 1,384.61 2,020.67 4,658.49
2018-06-30 1,441.63 2,145.43 4,655.49
2018-03-31 1,458.48 2,364.38 4,777.56
2017-12-31 1,151.58 2,574.63 4,716.68
2017-09-30 1,165.53 2,663.78 4,997.04
2017-06-30 517.48 1,986.64 1,840.74
2017-03-31 530.00 1,011.22 2,423.40
2016-12-31 534.41 812.24 2,229.30
2016-09-30 543.08 1,026.01 1,980.78
2016-06-30 546.57 1,516.18 2,380.12
2016-03-31 564.59 1,221.11 2,326.25
2015-12-31 557.87 1,063.67 1,928.73
2015-09-30 528.83 1,337.97 2,126.70
2015-06-30 504.66 1,385.35 2,883.39
2015-03-31 205.35 1,467.44 2,835.03
2014-12-31 212.27 1,011.87 2,136.57
2013-12-31 203.29 1,622.76 2,740.13
2013-09-30 287.93 1,421.08 2,674.22
  • Virtu Financial's level of debt (320.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (474.7% vs 320.2% today).
  • Debt is not well covered by operating cash flow (4.3%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Virtu Financial's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Virtu Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Virtu Financial has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0VF Dividends

 What is Virtu Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.52%
Current annual income from Virtu Financial dividends. Estimated to be 4.54% next year.
If you bought €2,000 of Virtu Financial shares you are expected to receive €90 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Virtu Financial's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Virtu Financial's dividend is below the markets top 25% of dividend payers in Germany (4.87%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:0VF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:0VF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.96 3.00
2021-12-31 0.97 7.00
2020-12-31 0.97 7.00
2020-04-01
DB:0VF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-05 0.960 5.503
2019-08-09 0.960 5.423
2019-08-08 0.960 5.320
2019-05-10 0.960 4.340
2019-05-03 0.960 3.977
2019-03-01 0.960 3.876
2019-02-07 0.960 3.726
2018-11-08 0.960 3.740
2018-11-07 0.960 3.794
2018-05-04 0.960 3.926
2018-03-13 0.960 2.769
2018-02-08 0.960 3.222
2017-11-09 0.960 5.397
2017-11-07 0.960 5.996
2017-08-09 0.960 5.908
2017-08-08 0.960 6.051
2017-05-10 0.960 5.764
2017-05-04 0.960 6.313
2017-03-14 0.960 5.990
2017-02-02 0.960 5.346
2016-11-10 0.960 6.221
2016-11-04 0.960 7.127
2016-08-12 0.960 6.319
2016-08-03 0.960 5.800
2016-05-13 0.960 5.459
2016-05-04 0.960 5.168
2016-03-28 0.960 4.502
2016-02-04 0.960 4.392
2015-11-13 0.960 4.327
2015-11-04 0.960 4.154
2015-08-14 0.960 4.111
2015-08-05 0.960 4.602

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Virtu Financial has been paying a dividend for less than 10 years.
  • Virtu Financial has only been paying a dividend for 5 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Virtu Financial's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Virtu Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Virtu Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Virtu Financial has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0VF Management

 What is the CEO of Virtu Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Doug Cifu
COMPENSATION $8,769,607
AGE 54
TENURE AS CEO 6.4 years
CEO Bio

Mr. Douglas A. Cifu, also known as Doug, served as Chief Executive Officer and Director of Virtu ITG Holdings LLC (formerly, Investment Technology Group Inc.) since March 1, 2019. Mr. Cifu serves as the Chief Executive Officer and Director at Virtu KCG Holdings LLC since July 20, 2017. He serves as Chief Executive Officer and Manager of Virtu ITG Holdings LLC. Mr. Cifu has been the Chief Executive Officer of Virtu Financial, Inc. since November 2013. Mr. Cifu’s experience as a Corporate Attorney provides with valuable insight regarding acquisitions, debt financings, equity financings and public markets. Mr. Cifu co-founded Vincent Viola in 2008. Mr. Cifu served as the President and Chief Operating Officer of Virtu Management since 2008. Mr. Cifu previously served as the President and Chief Operating Officer of Virtu Management, LLC since 2008 when he co-founded the business. Prior to the founding of Virtu Financial, LLC in 2008, he was a Partner at the international law firm of Paul, Weiss, Rifkind, Wharton & Garrison, LLP, where he served as Deputy Chairman of the Corporate Department, Head of the Private Equity Group and Co-Head of the Internet, Media and Technology Group. Mr. Cifu has worked on a wide variety of corporate transactions, including public and private mergers and acquisitions, venture capital financings, joint ventures and licensing transactions. He represents a number of leading venture capital firms in structuring and negotiating their investments in Internet, media and technology companies. Mr. Cifu also represents a number of Internet companies in various stages of development in a wide variety of financing, strategic and other transactions. He regularly represents the world's largest private equity investment fund focused exclusively on Internet and information technology in numerous transactions. Mr. Cifu also represents public companies in their merger and acquisition activities. He represented a major provider of end-to-end optical network and Internet infrastructure solutions in all of its merger and acquisition activity. He served as a Director of Independent Bank Group, Inc. from 2008 to July 25, 2019 and served as its Lead Independent Director from 2013 to July 25, 2019. He served as a Director of Independent Bank from 2008 to July 25, 2019. He has been a Director of KCG Holdings, Inc. since July 20, 2017. He has been a Director of Virtu Financial, Inc. since November 2013. He has been a Director of Virtu Financial LLC since 2008. He served as Director of SBI Japannext Co., Ltd. since July 5, 2016. He was named to Crain's New York Business Technology 100. He was a Member of the Columbia Journal of Law and Social Problems. He was elected to Phi Beta Kappa and was the Recipient of the Willen Memorial Political Science Prize and was a Dean's List student. Mr. Cifu received his J.D. from Columbia University School of Law in 1990 and a B.A., magna cum laude, in Political Science in 1987 from Columbia College.

CEO Compensation
  • Doug's compensation has increased whilst company is loss making.
  • Doug's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Virtu Financial management team in years:

0.6
Average Tenure
54
Average Age
  • The average tenure for the Virtu Financial management team is less than 2 years, this suggests a new team.
Management Team

Doug Cifu

TITLE
CEO & Director
COMPENSATION
$9M
AGE
54
TENURE
6.4 yrs

Vinnie Viola

TITLE
Founder & Chairman Emeritus
AGE
63
TENURE
12 yrs

Stephen Cavoli

TITLE
Executive VP and Head of Execution Services
COMPENSATION
$1M
AGE
50
TENURE
1.3 yrs

Alex Ioffe

TITLE
Executive VP & CFO
TENURE
0.6 yrs

Brett Fairclough

TITLE
COO & Global Head of Business Development
TENURE
0.6 yrs

Deborah Belevan

TITLE
Senior Vice President of Investor Relations and Communications
TENURE
0.3 yrs

Justin Waldie

TITLE
Senior VP

Brian Palmer

TITLE
Global Head of Development

Marc Rosenthal

TITLE
Executive Vice President of Strategy & Corporate Development
TENURE
0.6 yrs

Andrew Smith

TITLE
Senior Vice President of Global Business Development and Corporate Strategy
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Virtu Financial board of directors in years:

4
Average Tenure
62
Average Age
  • The tenure for the Virtu Financial board of directors is about average.
Board of Directors

Bob Greifeld

TITLE
Independent Chairman of the Board
COMPENSATION
$375K
AGE
61
TENURE
2.8 yrs

Doug Cifu

TITLE
CEO & Director
COMPENSATION
$9M
AGE
54
TENURE
6.4 yrs

Vinnie Viola

TITLE
Founder & Chairman Emeritus
AGE
63
TENURE
2.8 yrs

Bill Cruger

TITLE
Independent Director
COMPENSATION
$235K
AGE
61
TENURE
5 yrs

John Nixon

TITLE
Independent Director
COMPENSATION
$231K
AGE
64
TENURE
4.9 yrs

Glenn Hutchins

TITLE
Independent Director
COMPENSATION
$230K
AGE
63
TENURE
2.8 yrs

Jack Sandner

TITLE
Independent Director
COMPENSATION
$231K
AGE
78
TENURE
5 yrs

Michael Viola

TITLE
Director
COMPENSATION
$218K
AGE
32
TENURE
4 yrs

ChrisC Quick

TITLE
Independent Director
COMPENSATION
$228K
AGE
61
TENURE
4 yrs

Joe Grano

TITLE
Independent Director
COMPENSATION
$220K
AGE
71
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
07. Nov 19 Buy Douglas Cifu Individual 07. Nov 19 07. Nov 19 20,000 €14.70 €294,085
04. Sep 19 Buy Douglas Cifu Individual 04. Sep 19 04. Sep 19 10,000 €16.85 €168,512
24. May 19 Sell Stephen Cavoli Individual 23. May 19 23. May 19 -7,500 €21.03 €-157,698
X
Management checks
We assess Virtu Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Virtu Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0VF News

Simply Wall St News

0VF Company Info

Description

Virtu Financial, Inc., together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company’s Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities. Its Execution Services segment comprises agency-based trading and trading venues, which offer execution services in equities, ETFs, futures, and fixed income to institutions, banks, and broker dealers. Virtu Financial, Inc. was founded in 2008 and is headquartered in New York, New York.

Details
Name: Virtu Financial, Inc.
0VF
Exchange: DB
Founded: 2008
$3,637,626,867
$2,261,907,402
191,052,935
Website: http://www.virtu.com
Address: Virtu Financial, Inc.
One Liberty Plaza,
165 Broadway,
New York,
New York, 10006,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VIRT Class A Common Stock Nasdaq Global Select US USD 16. Apr 2015
DB 0VF Class A Common Stock Deutsche Boerse AG DE EUR 16. Apr 2015
BRSE 0VF Class A Common Stock Berne Stock Exchange CH CHF 16. Apr 2015
Number of employees
Current staff
Staff numbers
1,012
Virtu Financial employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 22:45
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/28
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.