Virtus Investment Partners, Inc. (VRTS) Key Metrics
VRTS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $814.1M
- Enterprise value
- $3.39B
- P/E (TTM)
- 7.0 10-yr median 12.7
- Forward P/E
- 7.7
- PEG ratio
- 0.56
- Price / sales
- 1.0 10-yr median 1.9
- Price / book
- 0.9 10-yr median 1.8
- EV / EBITDA
- 8.5 10-yr median 11.2
- Dividend yield
- 7.97% $9.80 a year
- Beta
- 1.39
VRTS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsVRTS valuation Price multiples at each fiscal year-end price.
VRTS returns How much profit the business earns on the capital it uses.
VRTS per-share figures Results divided by the shares outstanding at year-end.
VRTS financial health Debt, liquidity and how easily interest is covered.
VRTS efficiency & capital use Working capital cycle and where the cash goes.
VRTS valuation history
VRTS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
VRTS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
VRTS cash returned to shareholders
VRTS price vs earnings per share
VRTS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.13B | $1.59B | $1.78B | $1.45B | $2.38B | $1.73B | $991.9M | $677.3M | $833.8M | $923.4M |
| Enterprise value | $3.50B | $3.66B | $3.70B | $3.20B | $4.30B | $5.98B | $3.06B | $2.70B | $2.31B | $1.08B |
| P/E ratio | 8.2 | 13.1 | 13.7 | 12.3 | 11.4 | 21.6 | 10.4 | 9.0 | 22.5 | 19.0 |
| Price / sales | 1.4 | 1.8 | 2.1 | 1.6 | 2.4 | 2.9 | 1.8 | 1.2 | 2.0 | 2.9 |
| Price / book | 1.2 | 1.8 | 2.1 | 1.8 | 2.4 | 2.1 | 1.3 | 1.0 | 1.4 | 2.6 |
| Price / free cash flow | — | — | 7.8 | 11.5 | 3.6 | — | — | — | — | 32.4 |
| Price / operating cash flow | — | 906.2 | 7.5 | 10.9 | 3.6 | — | — | — | — | 30.3 |
| EV / sales | 4.2 | 4.1 | 4.4 | 3.6 | 4.4 | 9.9 | 5.4 | 4.9 | 5.4 | 3.4 |
| EV / EBITDA | 8.5 | 8.0 | 24.4 | 9.8 | 9.1 | 19.9 | 10.5 | 11.9 | 15.8 | 12.4 |
| EV / free cash flow | — | — | 16.2 | 25.4 | 6.5 | — | — | — | — | 38.0 |
| Earnings yield | 12.2% | 7.7% | 7.3% | 8.1% | 8.8% | 4.6% | 9.6% | 11.2% | 4.4% | 5.3% |
| Free cash flow yield | −6.6% | −0.2% | 12.8% | 8.7% | 27.8% | −13.1% | −4.5% | −11.0% | −22.1% | 3.1% |
| Dividend yield | 5.7% | 3.7% | 2.9% | 3.3% | 1.3% | 1.4% | 2.6% | 3.3% | 2.3% | 1.5% |
| Shareholder yield (dividends + buybacks) | 11.0% | 6.5% | 5.4% | 9.5% | 3.7% | 3.3% | 6.6% | 7.4% | 3.2% | 26.8% |
| Share price at fiscal year-end | $163.15 | $220.58 | $241.76 | $191.44 | $297.10 | $217.00 | $121.72 | $79.43 | $115.05 | $118.05 |
| Per share | ||||||||||
| Revenue per share | $119.87 | $125.22 | $114.61 | $116.29 | $121.79 | $75.63 | $69.00 | $64.66 | $58.56 | $41.13 |
| Earnings per share | $19.97 | $16.89 | $17.71 | $15.50 | $26.01 | $10.02 | $11.74 | $8.86 | $5.11 | $6.20 |
| Operating cash flow per share | −$9.70 | $0.24 | $32.16 | $17.50 | $83.18 | −$28.35 | −$4.51 | −$7.34 | −$25.21 | $3.90 |
| Free cash flow per share | −$10.69 | −$0.53 | $30.96 | $16.63 | $82.46 | −$28.48 | −$5.43 | −$8.71 | −$25.42 | $3.64 |
| Cash per share | $68.87 | $55.42 | $46.15 | $77.62 | $47.34 | $41.81 | $39.45 | $29.75 | $32.22 | $29.15 |
| Book value per share | $134.80 | $124.48 | $117.14 | $107.76 | $121.90 | $104.87 | $92.05 | $82.25 | $84.09 | $45.89 |
| Tangible book value per share | $30.24 | $16.94 | $4.71 | $3.38 | $17.07 | $33.33 | $18.33 | $8.46 | $18.95 | $40.11 |
| Dividends per share | $9.32 | $8.06 | $7.06 | $6.23 | $3.92 | $3.12 | $3.11 | $2.62 | $2.60 | $1.76 |
| Capex per share | $0.99 | $0.77 | $1.20 | $0.87 | $0.73 | $0.13 | $0.93 | $1.37 | $0.21 | $0.26 |
| Debt per share | $410.31 | $343.15 | $305.60 | $308.41 | $287.39 | $574.49 | $293.31 | $267.23 | $235.37 | $49.70 |
| Shares outstanding | 6.9M | 7.2M | 7.4M | 7.6M | 8.0M | 8.0M | 8.1M | 8.5M | 7.2M | 7.8M |
| Change in shares outstanding | −3.9% | −2.2% | −2.7% | −5.3% | +0.3% | −2.1% | −4.4% | +17.7% | −7.4% | −12.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.1% | 13.8% | 15.5% | 13.1% | 23.0% | 10.1% | 13.2% | 11.5% | 7.6% | 10.3% |
| Return on invested capital (ROIC) | 3.4% | 4.7% | 4.3% | 4.7% | 6.1% | 2.7% | 3.4% | 3.3% | 2.2% | 8.6% |
| Return on assets (ROA) | 3.3% | 3.2% | 3.4% | 3.0% | 5.6% | 2.4% | 3.1% | 2.8% | 2.2% | 5.8% |
| Return on tangible assets | 3.9% | 3.8% | 4.6% | 3.7% | 6.7% | 2.8% | 3.7% | 3.4% | 1.7% | 6.2% |
| Free cash flow margin | −8.9% | −0.4% | 27.0% | 14.3% | 67.7% | −37.7% | −7.9% | −13.5% | −43.4% | 8.9% |
| Income quality (OCF / net income) | −0.49 | 0.01 | 1.82 | 1.13 | 3.20 | −2.83 | −0.38 | −0.83 | −4.94 | 0.63 |
| Financial health | ||||||||||
| Total debt | $2.84B | $2.47B | $2.25B | $2.34B | $2.30B | $4.58B | $2.39B | $2.28B | $1.71B | $388.8M |
| Cash & short-term investments | $477.2M | $399.6M | $340.3M | $588.5M | $378.9M | $333.5M | $321.5M | $253.7M | $233.5M | $228.0M |
| Net debt | $2.37B | $2.07B | $1.91B | $1.75B | $1.92B | $4.25B | $2.07B | $2.02B | $1.47B | $160.7M |
| Debt / equity | 3.04 | 2.76 | 2.61 | 2.86 | 2.36 | 5.48 | 3.19 | 3.25 | 2.80 | 1.08 |
| Debt / assets | 0.66 | 0.62 | 0.61 | 0.59 | 0.58 | 1.32 | 0.75 | 0.79 | 0.66 | 0.47 |
| Net debt / EBITDA | 5.72 | 4.51 | 12.63 | 5.37 | 4.05 | 14.16 | 7.09 | 8.93 | 10.08 | 1.84 |
| Current ratio | 3.80 | 2.49 | 3.07 | 2.46 | 2.86 | 5.29 | 0.68 | 0.61 | 2.01 | 2.15 |
| Quick ratio | 3.80 | 2.49 | 3.07 | 1.56 | 2.86 | 5.29 | 0.68 | 0.46 | 1.40 | 2.73 |
| Interest coverage | 0.9 | 1.0 | 6.5 | 2.1 | 4.7 | 1.5 | 1.1 | 1.3 | 1.2 | 4.2 |
| Working capital | $428.2M | $310.0M | $303.5M | $408.5M | $461.6M | $344.1M | −$183.4M | −$204.2M | $150.8M | $141.7M |
| Invested capital | $3.30B | $2.97B | $2.78B | $2.57B | $2.90B | $5.09B | $2.82B | $2.73B | $2.08B | $519.7M |
| Tangible asset value | $313.3M | $233.6M | $143.9M | $145.3M | $136.6M | $265.8M | $149.3M | $72.2M | $137.3M | $313.7M |
| Net current asset value | −$2.67B | −$2.47B | −$2.26B | −$2.33B | −$2.25B | −$2.21B | −$2.06B | −$1.84B | −$1.68B | −$200.6M |
| Graham number | $246.13 | $217.47 | $216.06 | $193.87 | $267.08 | $153.80 | $155.91 | $128.03 | $98.30 | $80.01 |
| Graham net-net per share | −$389.55 | −$346.48 | −$309.60 | −$293.83 | −$310.73 | −$280.04 | −$254.94 | −$213.81 | −$228.14 | −$31.48 |
| Capital allocation | ||||||||||
| Dividends paid | $64.6M | $58.1M | $52.0M | $47.3M | $31.4M | $24.9M | $25.3M | $22.4M | $18.8M | $13.8M |
| Share buybacks (net) | $60.0M | $44.9M | $45.0M | $90.0M | $57.5M | $32.5M | $40.0M | $27.5M | $7.5M | $233.8M |
| Dividend payout ratio | 46.7% | 47.7% | 39.8% | 40.2% | 15.1% | 31.1% | 26.5% | 29.6% | 50.9% | 28.4% |
| Dividends + buybacks / free cash flow | — | — | 42.5% | 108.9% | 13.5% | — | — | — | — | 868.6% |
| Capex / revenue | 0.8% | 0.6% | 1.0% | 0.7% | 0.6% | 0.2% | 1.3% | 2.1% | 0.4% | 0.6% |
| Capex / operating cash flow | — | 317.9% | 3.7% | 5.0% | 0.9% | — | — | — | — | 6.6% |
| Capex / depreciation | 0.11 | 0.08 | 0.13 | 0.10 | 0.11 | 0.03 | 0.19 | 0.35 | 0.08 | 0.35 |
| Stock-based compensation / revenue | 2.9% | 3.6% | 3.2% | 2.7% | 2.7% | 3.6% | 4.0% | 4.2% | 4.8% | 3.7% |
| SG&A / revenue | 19.5% | 18.9% | 20.2% | 22.5% | 36.8% | 44.3% | 42.8% | 43.3% | 45.1% | 42.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 48.3 | 45.7 | 45.0 | 46.2 | 39.0 | 48.0 | 46.8 | 44.9 | 43.7 | 42.3 |
| Days of inventory on hand | — | — | — | 123.4 | -0.0 | -0.0 | 60.4 | 130.3 | 18.3 | -148.0 |
| Days payables outstanding | 91.0 | 44.5 | 129.4 | 40.2 | 37.6 | 33.2 | 38.9 | 44.0 | 52.2 | 64.9 |
| Cash conversion cycle (days) | -42.7 | 1.2 | -84.4 | 129.4 | 1.4 | 14.8 | 68.3 | 131.2 | 9.7 | -170.5 |
| Receivables turnover | 7.55 | 7.98 | 8.11 | 7.90 | 9.36 | 7.61 | 7.80 | 8.13 | 8.36 | 8.62 |
| Payables turnover | 4.01 | 8.20 | 2.82 | 9.09 | 9.70 | 10.99 | 9.39 | 8.29 | 6.99 | 5.63 |
| Inventory turnover | — | — | — | 2.96 | — | — | — | 2.80 | 19.94 | — |
| Asset turnover | 0.20 | 0.24 | 0.22 | 0.22 | 0.26 | 0.18 | 0.19 | 0.20 | 0.25 | 0.38 |
| Average receivables | $110.0M | $113.1M | $104.2M | $111.6M | $104.2M | $79.3M | $72.1M | $67.8M | $50.8M | $37.3M |
| Average payables | $52.0M | $52.8M | $44.6M | $40.8M | $36.9M | $24.3M | $25.6M | $28.8M | $27.4M | $24.1M |
| Average inventory | — | — | — | $125.5M | −$1,500 | −$9,500 | $39.8M | $85.1M | $9.6M | −$55.0M |
| Intangibles / total assets | 16.9% | 19.4% | 22.5% | 20.0% | 21.3% | 16.5% | 18.7% | 21.9% | 18.2% | 5.5% |
Computed from VRTS's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
VRTS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Virtus Investment Partners traded at 8.2 times earnings, against a 10-year median of 12.7. Based on the latest twelve months, the trailing P/E is 7.0 and the forward P/E is 7.7. Virtus Investment Partners earned a return on equity of 15.1% and a return on invested capital of 3.4% in fiscal 2025. It ended the year with $2.8 billion of debt and $477.2 million in cash and short-term investments, net debt of $2.4 billion. It returned $124.6 million to shareholders: $64.6 million in dividends and $60.0 million in share buybacks. The share count fell 11.4% from 7.8M to 6.9M over 9 years.
See the VRTS income statement, the VRTS chart for price history, or the VRTS stock overview for the latest quote and news.
VRTS key metrics FAQ
What is Virtus Investment Partners's P/E ratio?
Virtus Investment Partners's trailing P/E ratio is 7.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 7.7. At the end of fiscal 2025 it was 8.2, compared with a 10-year median of 12.7.
What is Virtus Investment Partners's EV/EBITDA?
Virtus Investment Partners's enterprise value was 8.5 times EBITDA at the end of fiscal 2025 (enterprise value $3.5 billion, EBITDA $413.3 million); the current EV/EBITDA is 8.5.
What is Virtus Investment Partners's return on equity?
Virtus Investment Partners's return on equity (ROE) was 15.1% in fiscal 2025: net income of $138.4 million on average shareholders' equity of $915.8 million.
What is Virtus Investment Partners's ROIC?
Virtus Investment Partners's return on invested capital was 3.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Virtus Investment Partners have?
Virtus Investment Partners had total debt of $2.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.04 and $2.4 billion of net debt (5.72 times EBITDA).
What is Virtus Investment Partners's dividend yield?
Virtus Investment Partners's forward dividend yield is 7.97%. Virtus Investment Partners paid $64.6 million in dividends in fiscal 2025 ($9.32 per share), a payout ratio of 46.7%.
Does Virtus Investment Partners buy back its shares?
Yes. Virtus Investment Partners spent $60.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −3.9% over the year, to 6.9M..
What is Virtus Investment Partners's free cash flow yield?
Virtus Investment Partners generated -$74.1 million of free cash flow in fiscal 2025, a free cash flow yield of −6.6% on its market value at year-end ($1.1 billion).
What is Virtus Investment Partners's current ratio?
Virtus Investment Partners's current ratio was 3.80 at the end of fiscal 2025: current assets were 3.80 times current liabilities.