Financial Performance - The company's Normalized Adjusted EPS was $1.05 in 3Q 2025[3], compared to $1.53 in 2Q 2025, a decrease of 31%[13] - Adjusted Net Trading Income (NTI) reached $467 million in 3Q 2025[3], a 20% decrease from $568 million in 2Q 2025 but a 21% increase from $388 million in 3Q 2024[13] - Daily Average Adjusted NTI was $7.4 million in 3Q 2025[3] - Adjusted EBITDA was $268 million in 3Q 2025, with an Adjusted EBITDA Margin of 57%[3] - The company's Debt to Last Twelve Months (LTM) Adjusted EBITDA ratio stood at 1.7x[3] - LTM 3Q'25 Normalized Adjusted EPS was $5.01 and LTM 3Q'25 Adjusted NTI/day was $8.0 million[4] Business Segments - Market Making Adjusted NTI was $344 million in 3Q 2025, representing 74% of the total Adjusted NTI[13] - Execution Services Adjusted NTI was $123 million in 3Q 2025, accounting for 26% of the total Adjusted NTI[13] - VES Adjusted NTI has increased in 6 consecutive quarters (+32% vs 1Q 2024)[4] Market Metrics - US Equity Consolidated Notional Volume averaged $827 billion daily in 3Q 2025, a 3% increase compared to 2Q 2025 and a 41% increase compared to 3Q 2024[15] - Virtu Rule 605 Executed Shares averaged 800 million in 3Q 2025, a 7% increase compared to 2Q 2025 and a 45% increase compared to 3Q 2024[15]

Core Insights - Virtu Financial, Inc. reported a strong financial performance for the third quarter of 2025, with total revenues increasing by 16.7% to $824.8 million compared to $706.8 million in the same period of 2024 [4][11] - The company declared a quarterly cash dividend of $0.24 per share, payable on December 15, 2025 [3] Financial Results - Total revenues for Q3 2025 reached $824.8 million, a 16.7% increase from $706.8 million in Q3 2024 [4] - Trading income, net, rose by 19.2% to $529.1 million compared to $444.0 million in the prior year [4] - Net income for the quarter was $149.1 million, up from $119.0 million in Q3 2024 [4][11] - Basic and diluted earnings per share were $0.86, compared to $0.65 and $0.64 for the same period in 2024 [5] Adjusted Financial Metrics - Adjusted Net Trading Income increased by 20.4% to $467.0 million for Q3 2025, compared to $388.0 million in Q3 2024 [6] - Adjusted EBITDA rose by 24.7% to $267.8 million, compared to $214.8 million in the same period last year [6] - Normalized Adjusted Net Income increased by 26.1% to $166.5 million, compared to $132.1 million in Q3 2024 [6] Operating Segments - The company operates in two segments: Market Making and Execution Services [8][9] - Market Making segment includes trading across various asset classes, while Execution Services focuses on agency-based trading and technology services [8][9] Share Repurchase Program - Since the inception of the share repurchase program in November 2020, the company has repurchased approximately 53.8 million shares for about $1.417 billion [15] - The remaining capacity for future purchases under the program is approximately $302.8 million [15] Financial Condition - As of September 30, 2025, Virtu had $755.4 million in cash and cash equivalents, with total long-term debt of $2.0687 billion [14]

Core Insights - Virtu Financial, Inc. (VIRT) is scheduled to report its third-quarter 2025 results on October 29, with earnings per share (EPS) estimated at $1.00 and revenues projected at $420.1 million, reflecting a year-over-year earnings increase of 22% and revenue growth of 8.3% [1][2] Financial Performance Estimates - For the full year 2025, the Zacks Consensus Estimate for Virtu Financial's revenues is $1.9 billion, indicating a year-over-year rise of 19.4%. The consensus for EPS is $4.80, suggesting a 35.2% increase year-over-year [2] - The company has consistently beaten consensus earnings estimates in the past four quarters, with an average surprise of 14.9% [2] Earnings Prediction Model - The current model does not predict an earnings beat for Virtu Financial this quarter, as it has an Earnings ESP of -7.36% and a Zacks Rank of 4 (Sell) [3] Revenue Drivers - The expected growth in Virtu Financial's top line is attributed to improved net trading income, higher commissions, and technology services revenues, along with increased interest and dividends income. The consensus estimate for overall net trading income is $489.1 million, reflecting a 10.1% year-over-year increase [4] - The consensus estimate for commissions and technology services is $150 million, indicating a 14% year-over-year increase [5] - Interest and dividends income is estimated at $132.2 million, which implies a 5.5% rise from the previous year [8] Segment Performance - The Market Making segment's net trading income is estimated at $485 million, indicating a 10.1% year-over-year rise, while the Execution Services segment's net trading income is projected at $4.1 million, reflecting a 15.4% growth [9] Cost Pressures - Virtu Financial's margins are expected to be impacted by rising operating costs, which are anticipated to increase by 10.2% year-over-year to $617 million. This includes higher brokerage, exchange, clearance fees, and employee compensation costs [10]

Core Insights - Virtu Financial, Inc. will announce its third quarter 2025 financial results on October 29, 2025, before the US market opens [1] - A conference call to discuss the financial results will take place at 8:00 AM (EDT) and will be accessible to the public via a live webcast [2] Company Overview - Virtu Financial is a leading provider of financial services and products, utilizing advanced technology to deliver liquidity and innovative trading solutions to clients [3] - The company offers a comprehensive product suite that includes execution, liquidity sourcing, analytics, and broker-neutral, multi-dealer platforms across various asset classes [3] - Virtu operates in over 50 countries, allowing clients to trade on hundreds of venues in global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency, and other commodities [3] - The integrated, multi-asset analytics platform provides pre-, intra-, and post-trade services, data products, and compliance tools for clients to manage risk and invest across global markets [3]

Core Insights - Virtu Financial, Inc. has been recognized for its leadership in the financial services industry, particularly through the achievements of Pegah Esmaeili, who received the Excellence in Sales & Trading (Equities) award at the European Women in Finance Awards [1][4] Company Overview - Virtu Financial is a leading provider of global, multi-asset financial services, delivering liquidity and innovative products across the investment cycle to global markets [1][5] - The firm utilizes advanced technology to offer execution services, data analytics, and connectivity products, enabling clients to trade across hundreds of venues in over 50 countries and multiple asset classes [5] Leadership and Recognition - Pegah Esmaeili has over a decade of experience in her role and has been pivotal in establishing Virtu as a key player in the Nordic region through her client-first approach and collaborative efforts [2] - Esmaeili is also the driving force behind Virtu's Winter Conference in Stockholm, which has become a significant forum for discussions on market innovations and shifts [3] Commitment to Excellence - David Angel, EMEA's Head of Business Development at Virtu Financial, highlighted Esmaeili's recognition as a testament to her hard work and dedication, reflecting the company's commitment to excellence, innovation, and teamwork [4]

Core Viewpoint - Virtu Financial is considered one of the most undervalued financial stocks by Wall Street analysts, despite a recent downgrade in earnings estimates due to reduced market volatility [1][2][3]. Group 1: Earnings Forecast and Price Target - Jefferies has cut its price target for Virtu Financial from $51 to $49 while maintaining a "Buy" rating, citing a revised adjusted earnings estimate for Q3 2025 from $1.02 per share to $0.83 per share [1][2]. - The downgrade in earnings forecast is attributed to a 31% decrease in the average level of the VIX index compared to the previous quarter, indicating lower market volatility [2]. Group 2: Business Model and Market Position - Despite the reduced volatility, Jefferies maintains that retail trading engagement remains positive, which supports Virtu's core revenue streams [3]. - Analysts express confidence in Virtu's business model and profitability, highlighting its ability to generate strong financial results even during periods of lower volatility [3]. Group 3: Company Overview - Virtu Financial, Inc. is a financial services company that utilizes proprietary technology to provide market-making, execution services, and multi-asset analytics across various sectors including equities, fixed income, currencies, commodities, options, futures, and cryptocurrencies [4].

Core Viewpoint - Investors are evaluating the value opportunities presented by Virtu Financial (VIRT) and Brookfield Asset Management (BAM) to determine which stock offers better value at the current time [1] Group 1: Zacks Rank and Earnings Outlook - Virtu Financial holds a Zacks Rank of 1 (Strong Buy), indicating a positive earnings outlook, while Brookfield Asset Management has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank system favors stocks with positive revisions to earnings estimates, suggesting that VIRT has an improving earnings outlook [3] Group 2: Valuation Metrics - VIRT has a forward P/E ratio of 7.17, significantly lower than BAM's forward P/E of 37.99 [5] - The PEG ratio for VIRT is 0.41, indicating better value relative to its expected earnings growth compared to BAM's PEG ratio of 2.17 [5] - VIRT's P/B ratio stands at 3.28, while BAM's P/B ratio is much higher at 10.93, further indicating VIRT's relative undervaluation [6] Group 3: Value Grades - Based on various valuation metrics, VIRT has earned a Value grade of A, whereas BAM has received a Value grade of F, highlighting VIRT's superior valuation [6] - The stronger estimate revision activity and more attractive valuation metrics for VIRT suggest it is the preferred choice for value investors at this time [7]

Core Insights - The article emphasizes the importance of the Zacks Rank in identifying strong stocks through earnings estimates and revisions, while also acknowledging that investors have their own strategies [1] - Value investing is highlighted as a popular method for finding great stocks across various market conditions, utilizing established valuation metrics [2] Company Analysis - Virtu Financial (VIRT) is identified as a notable stock for value investors, currently holding a Zacks Rank of 1 (Strong Buy) and an A grade for Value [3] - VIRT's price-to-book (P/B) ratio is 3.32, which is attractive compared to the industry average of 3.80. The stock's P/B has fluctuated between a high of 4.39 and a low of 3.24 over the past year, with a median of 3.90 [4] - The price-to-sales (P/S) ratio for VIRT is 1.58, significantly lower than the industry's average P/S of 2.5, indicating potential undervaluation [5] - Overall, the combination of VIRT's strong valuation metrics and positive earnings outlook suggests it is an impressive value stock at this time [6]

Core Viewpoint - Virtu Financial, Inc. has successfully priced and closed incremental term loans amounting to $300 million, increasing its total term loan balance to $1,545 million under its senior secured credit facility [1][2]. Group 1: Incremental Term Loans - The Incremental Term Loan, along with existing Term Loans, will bear interest at Term SOFR + 250 basis points and will be issued at par [2]. - Proceeds from the Incremental Term Loan may be utilized for general corporate purposes [2]. Group 2: Company Overview - Virtu Financial is a leading provider of financial services and products, utilizing advanced technology to deliver liquidity and innovative trading solutions globally [3]. - The company offers a comprehensive product suite, including execution, liquidity sourcing, analytics, and broker-neutral platforms across over 50 countries and multiple asset classes [3]. - Virtu's integrated multi-asset analytics platform provides pre- and post-trade services, data products, and compliance tools for clients to manage investments and risks [3].

Core Insights - The financial sector is currently experiencing a trend of oversold stocks, presenting potential buying opportunities for undervalued companies [1][2] Group 1: Oversold Stocks - Blackstone Secured Lending Fund (BXSL) has an RSI of 27.2, with a recent stock price of $27.54 and a 52-week low of $25.89. The stock has fallen approximately 8% over the past month [4] - Ares Capital Corporation (ARCC) has an RSI of 25.1, with shares closing at $21.09 and a 52-week low of $18.26. The stock has decreased around 6% in the last five days [4] - Virtu Financial Inc (VIRT) has an RSI of 18.4, with a stock price of $35.17 and a 52-week low of $29.82. The stock has dropped about 15% over the past month [4] Group 2: Analyst Coverage and Price Targets - UBS analyst Doug Harter initiated coverage on Blackstone Secured Lending Fund with a Neutral rating and a price target of $31 [4] - Ares Capital recently priced a public offering of $650 million in unsecured notes due 2031 [4]