Virtus Investment Partners (VRTS) FY2023 results: revenue $845 million, down 4.6% on the year
Virtus Investment Partners, Inc. (VRTS) reported revenue of $845 million for fiscal 2023, the year ended 31 December 2023, down 4.6% on the year before. Net income was $131 million, up 11.1%, and diluted earnings per share $17.71. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$845 million
-4.6% on the year
FY2016FY2023
Operating margin
17.9%
22.3% a year earlier
FY2016FY2023
Net income
$131 million
+11.1% on the year
FY2016FY2023
Diluted EPS
$17.71
+14.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
237
133
666
+78.8%
Capital expenditure
8.8
6.6
5.8
+34.0%
Free cash flow
228
126
660
+81.1%
Free cash flow margin
27.0%
14.2%
67.4%
Cash from investing
-130
-27.5
-175
Cash from financing
-356
-102
-244
Depreciation and amortisation
70.0
68.6
50.8
+2.2%
Share-based compensation
26.8
24.0
26.2
+11.6%
Buybacks
45.0
90.0
57.5
-50.0%
Dividends paid
52.0
47.3
31.4
+10.1%
Dividend per share
$7.10
$6.30
$4.64
+12.7%
Diluted shares, weighted
7m
8m
8m
-2.7%
Shares outstanding at period end
7m
7m
8m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
864
817
828
+5.7%
Non-controlling interest
4.4
5.9
8.3
-26.3%
Redeemable equity
105
114
139
-7.8%
Debt
253
255
266
-0.6%
Other liabilities
2,452
2,761
2,692
-11.2%
Total liabilities and equity
3,679
3,953
3,934
-6.9%
Fixed assets
26.2
19.1
12.5
+37.1%
Goodwill
397
349
338
+13.8%
Intangible assets
432
443
501
-2.4%
Cash and equivalents
341
589
586
-42.1%
Other assets
2,482
2,553
2,497
-2.8%
Total assets
3,679
3,953
3,934
-6.9%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.