Virtu posts FY 2025 net income of USD 912.26 million, up 70.7%

Reuters
6 hours ago
Virtu posts FY 2025 net income of USD 912.26 million, up 70.7%

Virtu Financial reported FY 2025 results with total revenue of USD 3.63 billion (+26.3%) and net income of USD 912.26 million, with a GAAP net income margin of 25.1%. Income before income taxes and noncontrolling interest was USD 1.09 billion, and provision for income taxes was USD 182.07 million (effective tax rate 16.6%). Trading income, net was USD 2.44 billion (+33.7%), interest and dividends income was USD 508.82 million (+10.1%), commissions, net and technology services was USD 617.03 million (+19.4%), and other, net was USD 69.57 million. By segment, Market Making revenue was USD 2.95 billion (+24.2%) with income before income taxes and noncontrolling interest of USD 890.59 million, while Execution Services revenue was USD 668.19 million (+31.7%) with income before income taxes and noncontrolling interest of USD 190.56 million. Net income available for common stockholders was USD 468.36 million and basic EPS was USD 5.14 (diluted EPS USD 5.13). Adjusted Net Trading Income was USD 2.15 billion (+34.3%) and Adjusted EBITDA was USD 1.4 billion. Corporate updates included the May 2025 sale and deconsolidation of a 49% interest in RFQ-hub, which contributed to a gain on sale of USD 66.99 million in FY 2025. Virtu also completed Credit Agreement changes, including a February 2025 repricing into Term B-2 loans and a September 2025 issuance of USD 300 million incremental Term B-2 loans, bringing total Term B-2 loans outstanding to USD 1.55 billion as of December 31, 2025; the company also had USD 500 million of 7.50% senior secured first lien notes due 2031 outstanding. Virtu ended FY 2025 with cash and cash equivalents of USD 1.06 billion and reported USD 302.8 million of remaining capacity under its share repurchase program as of December 31, 2025.

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