Virtu Financial (VIRT) FY2021 results: revenue $2.8 billion, down 13.2% on the year
Virtu Financial, Inc. (VIRT) reported revenue of $2.8 billion for fiscal 2021, the year ended 31 December 2021, down 13.2% on the year before. Net income was $477 million, down 26.5%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.
Revenue
$2.8 billion
-13.2% on the year
FY2014FY2021
Operating margin
35.5%
42.7% a year earlier
FY2014FY2021
Net income
$477 million
-26.5% on the year
FY2014FY2021
Diluted EPS
$3.91
-24.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,172
1,061
169
+10.4%
Capital expenditure
24.6
28.9
9.3
-15.0%
Free cash flow
1,147
1,032
159
+11.2%
Free cash flow margin
40.8%
31.9%
10.5%
Cash from investing
-87.3
-2.6
-900
Cash from financing
-958
-840
770
Depreciation and amortisation
98.1
112
115
-12.2%
Share-based compensation
55.8
59.8
71.7
-6.8%
Buybacks
3.5
0.0
0.2
Dividends paid
n/a
120
112
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
118m
122m
114m
-3.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,549
1,469
931
+5.5%
Non-controlling interest
314
386
298
-18.7%
Short-term borrowings
n/a
n/a
73.5
Debt
2,181
2,165
1,918
+0.7%
Finance lease liabilities
n/a
11.7
13.4
Other liabilities
6,275
5,934
6,376
+5.8%
Total liabilities and equity
10,320
9,966
9,609
+3.6%
Goodwill
1,149
1,149
1,149
0.0%
Intangible assets
386
454
530
-15.0%
Securities borrowed
1,349
1,425
1,929
-5.3%
Cash and equivalents
1,071
890
732
+20.4%
Other assets
6,364
6,048
5,270
+5.2%
Total assets
10,320
9,966
9,609
+3.6%
10-K for the year ended 31 December 2021, filed 18 February 2022: the filing.