VIRT FY 2018 Earnings Report — Virtu Financial, Inc. Revenue & Financial Results | Market Cap Arena

Virtu Financial, Inc.VIRT

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.0B	—	82.8%
Op. Income	$957M	—	$309M	—	209.1%
Gross Margin	68.5%	—	57.7%	—	10.7pp
Net Margin	15.4%	—	0.3%	—	15.1pp
EPS (Diluted)	$2.78	—	$0.26	—	969.2%
Free Cash Flow	$688M	—	$272M	—	153.3%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$592M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$176M
SG&A Expenses	$176M
Other Expenses	$154M
Operating Expenses	$330M
Cost & Expenses	$922M
OPERATING INCOME	$957M
Interest Income	$0
Interest Expense	$214M
Other Income/Expenses	-$260M
INCOME BEFORE TAX	$696M
Income Tax Expense	$76M
Net Income from Continuing Ops	$620M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$284M
D&A	$87M
EBIT	$910M
EBITDA	$997M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$592M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$176M
SG&A Expenses	$176M
Other Expenses	$154M
Operating Expenses	$330M
Cost & Expenses	$922M
OPERATING INCOME	$957M
Interest Income	$0
Interest Expense	$214M
Other Income/Expenses	-$260M
INCOME BEFORE TAX	$696M
Income Tax Expense	$76M
Net Income from Continuing Ops	$620M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$284M
D&A	$87M
EBIT	$910M
EBITDA	$997M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$289M
Depreciation & Amortization	$87M
Stock-Based Compensation	$32M
Deferred Income Tax	$0
Other Non-Cash Items	-$106M
Change in Working Capital	$409M
OPERATING CASH FLOW	$715M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$356M
NET CASH FROM INVESTING	$329M
Net Debt Issuance	-$515M
Common Stock Repurchased	-$75M
Common Dividends Paid	-$100M
Other Financing Activities	-$145M
NET CASH FROM FINANCING	-$835M
FREE CASH FLOW	$688M
Net Change in Cash	$203M

Balance Sheet

Item	Amount
Cash & Equivalents	$730M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$113M
Goodwill	$837M
Intangible Assets	$84M
Long-Term Investments	$4.1B
Tax Assets	$200M
Other Non-Current Assets	$244M
TOTAL NON-CURRENT ASSETS	$5.5B
TOTAL ASSETS	$7.4B
Account Payables	$862M
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.5B
TOTAL NON-CURRENT LIABILITIES	$4.8B
TOTAL LIABILITIES	$5.9B
Common Stock	$2.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$97M
Treasury Stock	-$55M
Accum. Other Comp. Income	-$82.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$443M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$2.3B
Net Debt	$1.6B