Virtus Investment Partners (VRTS) FY2022 results: revenue $886 million, down 9.5% on the year
Virtus Investment Partners, Inc. (VRTS) reported revenue of $886 million for fiscal 2022, the year ended 31 December 2022, down 9.5% on the year before. Net income was $118 million, down 43.5%, and diluted earnings per share $15.50. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.
Revenue
$886 million
-9.5% on the year
FY2015FY2022
Operating margin
22.3%
33.2% a year earlier
FY2015FY2022
Net income
$118 million
-43.5% on the year
FY2015FY2022
Diluted EPS
$15.50
-40.4% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
133
666
-226
-80.1%
Capital expenditure
6.6
5.8
1.0
+12.7%
Free cash flow
126
660
-227
-80.9%
Free cash flow margin
14.2%
67.4%
-37.6%
Cash from investing
-27.5
-175
8.7
Cash from financing
-102
-244
235
Depreciation and amortisation
68.6
50.8
38.9
+35.0%
Share-based compensation
24.0
26.2
21.5
-8.3%
Buybacks
90.0
57.5
32.5
+56.5%
Dividends paid
47.3
31.4
22.8
+50.4%
Dividend per share
$6.30
$4.64
$2.98
+35.8%
Diluted shares, weighted
8m
8m
8m
-5.3%
Shares outstanding at period end
7m
8m
8m
-4.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
817
828
711
-1.4%
Non-controlling interest
5.9
8.3
9.8
-29.1%
Redeemable equity
114
139
116
-18.2%
Debt
255
266
201
-4.3%
Other liabilities
2,761
2,692
2,429
+2.6%
Total liabilities and equity
3,953
3,934
3,467
+0.5%
Fixed assets
19.1
12.5
14.5
+52.5%
Goodwill
349
338
290
+3.1%
Intangible assets
443
501
280
-11.6%
Cash and equivalents
589
586
340
+0.5%
Other assets
2,553
2,497
2,542
+2.3%
Total assets
3,953
3,934
3,467
+0.5%
10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.