VIRT FY 2014 Earnings Report — Virtu Financial, Inc. Revenue & Financial Results | Market Cap Arena

Virtu Financial, Inc.VIRT

FY 2014 Earnings

Reported December 30, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$723M	—	$665M	—	8.8%
Op. Income	$286M	—	$274M	—	4.4%
Gross Margin	56.4%	—	58.8%	—	-2.5pp
Net Margin	26.3%	—	27.4%	—	-1.1pp
EPS (Diluted)	$5.96	—	$5.73	—	4.0%
Free Cash Flow	$245M	—	$237M	—	3.0%

Revenue Flow

Item	Amount
REVENUE	$723M
Cost of Revenue	$315M
GROSS PROFIT	$408M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$69M
SG&A Expenses	$69M
Other Expenses	$53M
Operating Expenses	$121M
Cost & Expenses	$437M
OPERATING INCOME	$286M
Interest Income	$0
Interest Expense	$78M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$194M
Income Tax Expense	$4M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$31M
EBIT	$272M
EBITDA	$302M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$723M
Cost of Revenue	$315M
GROSS PROFIT	$408M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$69M
SG&A Expenses	$69M
Other Expenses	$53M
Operating Expenses	$121M
Cost & Expenses	$437M
OPERATING INCOME	$286M
Interest Income	$0
Interest Expense	$78M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$194M
Income Tax Expense	$4M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$31M
EBIT	$272M
EBITDA	$302M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$190M
Depreciation & Amortization	$31M
Stock-Based Compensation	$14M
Deferred Income Tax	$0
Other Non-Cash Items	$420M
Change in Working Capital	-$384M
OPERATING CASH FLOW	$273M
Capital Expenditure	-$28M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$8M
NET CASH FROM INVESTING	-$36M
Net Debt Issuance	-$80M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$141M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$222M
FREE CASH FLOW	$245M
Net Change in Cash	$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$76M
Short-Term Investments	$0
Net Receivables	$388M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$464M
PP&E (Net)	$45M
Goodwill	$715M
Intangible Assets	$1M
Long-Term Investments	$2.1B
Tax Assets	$977.0K
Other Non-Current Assets	$33M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.3B
Account Payables	$780M
Short-Term Debt	$496M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$500M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$3.1B
Common Stock	$307M
Additional Paid-In Capital	$0
Retained Earnings	-$91M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$212M
Minority Interest	$0
TOTAL EQUITY	$212M
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$996M
Net Debt	$920M