VRTS
VIRTUS INVESTMENT PARTNERS, INC.
Next earnings Jul 23, 2026 · consensus $6.15 EPS, $188M rev
Last earnings -6.6% on 2026-05-01
$147.58
▲ +8.76%$147.58▼ -11.19%
over 1Y
L $123.33EODHDH $202.00
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+8.8%
1W+5.0%
1M+2.5%
3M+16.2%
YTD-6.3%
1Y-11.2%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Sell
Cheap multi-boutique asset manager bleeding AUM, but dividend, buybacks and private-credit pivot cushion the bear case.
P/E (trailing) 7.0x · FY2025
The read
Fundamentals and price both look middling — no strong edge either way.
Virtus screens as statistically cheap — 7.0x trailing EPS, 1.1x sales, and a $937M market cap against $478M in cash and $934M of book equity — but the cheapness reflects a deteriorating core. FY2025 revenue fell 6.0% to $853M and operating income fell 7.6% to $169M; more importantly, MD&A discloses net outflows of $(18.9)B in 2025, worse than $(10.4)B in 2024, with total AUM down 8.9% to $159.5B despite a +16.4% S&P year. For an asset-based-fee business, persistent net outflows in a rising market are the most damning signal — fee revenue is being held up by beta, not by client trust, and the $5.9B of positive market performance only partly offset the bleed.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $979M | $886M | $845M | $907M | $853M |
| Gross profit | — | — | — | — | — |
| Operating income | $325M | $197M | $151M | $182M | $169M |
| Net income | $263M | $107M | $141M | $152M | $136M |
| Diluted EPS | $26.01 | $15.50 | $17.71 | $16.89 | $19.97 |
| Net margin | 26.8% | 12.0% | 16.7% | 16.8% | 15.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$900M
EV / EBITDA3.9
EV / Sales1.1
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield13.8%
FCF yield-7.5%
Quality & risk
ROIC (est.)10.1%
Free cash flow-$74.1M
Total debt$390M
Net cash$88.2M
Altman Z-Score0.65 distress
Piotroski F-Score3/8
Capital returns
Buyback yield6.1%
Dividend yield (est.)6.5%
Shareholder yield12.6%
Shares Δ YoY-3.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
- 8-K Shareholder vote2026-05-20
Annual meeting: routine director and auditor votes ratified
- 8-K/A Amended 8-K2026-05-14
Amendment likely Keystone acquisition financial statements
- 10-Q Quarterly report2026-05-08
Q1 2026 10-Q: first quarter post-Keystone close
- 8-K Earnings results2026-05-01
Q1 2026 earnings release amid -6% FY revenue trend
- 8-K Reg FD disclosure2026-04-17
Reg FD disclosure (likely monthly AUM or investor presentation)
- DEF 14A Proxy statement2026-04-07
2026 proxy: routine director, compensation and auditor votes
- 8-K Acquisition / disposition2026-03-02
Closed Keystone majority acquisition (~$200M + $170M deferred earnout)
- 10-K Annual report2026-02-27
FY2025: AUM -8.9% to $159.5B, $(18.9)B outflows, LT debt +68%
- 8-K Earnings results2026-02-06
FY2025 results: rev -6%, NI -10.8%; EPS +18% lifted by buybacks
Recent filings
all on EDGAR ↗4Period ending 2026-06-162026-06-17open ↗144Filing2026-06-16open ↗S-3ASRFiling2026-05-22open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗8-KPeriod ending 2026-05-202026-05-20open ↗8-K/APeriod ending 2026-03-012026-05-14open ↗SCHEDULE 13GFiling2026-05-12open ↗
Frequently asked
- Is VIRTUS INVESTMENT PARTNERS, INC. (VRTS) a buy?
- VRTS currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cheap multi-boutique asset manager bleeding AUM, but dividend, buybacks and private-credit pivot cushion the bear case.
- What is VRTS's fair value?
- A Modified-Graham model based on VRTS's SEC fundamentals estimates a fair value of about $152.77. It is an estimate from reported earnings, not a price target.
- Is VRTS overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, VRTS currently appears fairly valued relative to its SEC-grounded earnings power.
- What is VIRTUS INVESTMENT PARTNERS, INC.'s quality score?
- VRTS scores 66.52941176470587/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000883237, latest 10-Q filed 2026-05-08) · EODHD · analysis by claude-code · as of 6/25/2026, 2:37:53 PM.
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