Virtus Investment Partners (VRTS) FY2021 results: revenue $979 million, up 62.2% on the year
Virtus Investment Partners, Inc. (VRTS) reported revenue of $979 million for fiscal 2021, the year ended 31 December 2021, up 62.2% on the year before. Net income was $208 million, up 160.3%, and diluted earnings per share $26.01. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$979 million
+62.2% on the year
FY2014FY2021
Operating margin
33.2%
23.7% a year earlier
FY2014FY2021
Net income
$208 million
+160.3% on the year
FY2014FY2021
Diluted EPS
$26.01
+159.6% 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
666
-226
-36.7
Capital expenditure
5.8
1.0
7.6
+459.7%
Free cash flow
660
-227
-44.3
Free cash flow margin
67.4%
-37.6%
-7.9%
Cash from investing
-175
8.7
4.4
Cash from financing
-244
235
99.6
Depreciation and amortisation
50.8
38.9
39.6
+30.7%
Share-based compensation
26.2
21.5
22.2
+22.1%
Buybacks
57.5
32.5
40.0
+76.9%
Dividends paid
31.4
22.8
17.0
+37.8%
Dividend per share
$4.64
$2.98
$2.44
+55.7%
Diluted shares, weighted
8m
8m
8m
+0.3%
Shares outstanding at period end
8m
8m
7m
-1.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
828
711
676
+16.5%
Non-controlling interest
8.3
9.8
10.6
-14.8%
Redeemable equity
139
116
63.8
+20.3%
Debt
266
201
278
+32.4%
Other liabilities
2,692
2,429
2,177
+10.8%
Total liabilities and equity
3,934
3,467
3,205
+13.5%
Fixed assets
12.5
14.5
18.1
-13.4%
Goodwill
338
290
290
+16.5%
Intangible assets
501
280
310
+78.6%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
586
340
222
+72.5%
Other assets
2,497
2,542
2,364
-1.8%
Total assets
3,934
3,467
3,205
+13.5%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.