Feed / VIRT

Virtu Financial, Inc.

VIRT

Financial Services · 60.88 -1.2% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Virtu Financial, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Company-1.2% todayVolume comparison unavailable
Market group0 of 2 activeMarket Making & Execution · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
  • Increase in interest expense on cash collateral received tied to higher securities lending transactions.

Invalidation: The isolated read changes if VIRT's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Financial Services · Capital Markets

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Increase in interest expense on cash collateral received tied to higher securities lending transactions.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Brokerage and capital-markets earnings model

For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.

Key research questions
  • Can client and activity growth offset pressure from lower rates or weaker trading volumes?
  • Are customer balances, margin lending and credit conditions changing the risk profile?
  • Does the valuation reflect a durable earnings model or unusually favorable market conditions?
Annual periods9
Price observations328
Usable filing statements132
Verified relationships7
Evidence supporting the case
  • Latest annual revenue changed +19.4% year over year.
  • Net margin changed +22.4 percentage points in the latest annual period.
Evidence challenging the case
  • Credit and interest rates has repeated adverse evidence across 5 filings.
Questions before a position
  • P/E is 71% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 261% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

60.88
6m+53.5%12m+57.7%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$614.5M+2.3%$3.91-3.2%
2022-12-31$529.8M-13.8%$2.44-11.8%
2023-12-31$455.6M-14.0%$1.42-9.9%
2024-12-31$516.8M+13.4%$2.97-6.6%
2025-12-31$617.0M+19.4%$5.13-2.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
This increase was primarily attributable to higher interest expense incurred on cash collateral received driven by an increase in securities lending transactions, as well as higher dividends expense with respect to securities sold, not yet purchased for the p…
10-Q · Jul 31, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 8.4× · EV/sales 10.0×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.

Price action

How the market is pricing the story

60.88-1.2% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for VIRT. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for VIRT. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind VIRT

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

GSThe Goldman Sachs Group, Inc.lenderMay 1, 2026

48 Credit Agreement On January 13, 2022 (the “Credit Agreement Closing Date”), VFH and Virtu Financial entered into a credit agreement, with the lenders party thereto, JPMorgan Chase Bank, N.A.

JPMJPMorgan Chase & Co.lenderMay 1, 2026

48 Credit Agreement On January 13, 2022 (the “Credit Agreement Closing Date”), VFH and Virtu Financial entered into a credit agreement, with the lenders party thereto, JPMorgan Chase Bank, N.A.

ATMPFiling-linked namelenderMay 1, 2026

48 Credit Agreement On January 13, 2022 (the “Credit Agreement Closing Date”), VFH and Virtu Financial entered into a credit agreement, with the lenders party thereto, JPMorgan Chase Bank, N.A.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

VIRT is currently a Early Follower in the organic co-movement group Market Making & Execution. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.