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Virtu Financial Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Fourth quarter 2025 delivered strong results, with significant growth in revenue, net income, and adjusted metrics, driven by favorable operating conditions, diversified revenue base, and effective capital deployment.
Strategic focus on expanding trading, investing in infrastructure, and acquiring talent contributed to broad-based growth across products and segments.
Full-year 2025 normalized adjusted EPS reached $5.73, and adjusted net trading income per day was $8.6M.
Invested capital increased by $625M during 2025, supporting growth and returns.
Quarterly dividend of $0.24 per share was maintained throughout 2025.
Financial highlights
Q4 2025 adjusted net trading income was $613M, up 34% year-over-year, with full year at $2.1B.
Adjusted EBITDA for Q4 2025 was $442M (72% margin), and $1.4B (65% margin) for the year.
Normalized adjusted EPS for Q4 2025 was $1.85, and $5.73 for the full year, both highs since 2021.
Q4 2025 net income was $280.6M, up from $176.1M in Q4 2024; full year net income was $912.3M.
Q4 2025 total revenues rose 16.3% year-over-year to $969.9M; full year revenues increased 26.2% to $3,632.1M.
Segment performance
Market Making segment contributed $489M in adjusted NTI in Q4 2025, representing 80% of total, up 43% year-over-year.
Execution Services segment delivered $125M in adjusted NTI in Q4 2025, up 2% sequentially and 14% year-over-year.
For the full year, Market Making contributed $2,408M in trading income, Execution Services $28.7M.
Both segments benefited from elevated volumes, strong execution, and technology investment.
What drove Market Making segment's strong growth?
Elaborate on 'Other' adjustment components.
Mitigate market structure regulatory risks?
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Latest summaries
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Q3 sales growth exceeded expectations, guidance raised, and US presence expanded. - NOBA
Record profit growth, robust capital, and SME expansion drive strong 2025 results. - SF
Margins expanded to 27% despite revenue decline and large non-cash impairments. - IFX
Q1 FY26 revenue up 7% YoY to €3.66bn, led by AI and automotive, with key acquisition and investments. - WRT1V
All-time high profit and cash flow, with robust Marine and Energy growth and major investments. - CB
Record net income and strong underwriting drive robust growth, with positive 2026 outlook. - BERG
EBITA and margins rose 12% with 4% organic growth, supported by acquisitions and efficiency. - APOTEA
Full-year revenue up 10.1%, but Q4 margin dropped to 1.3% on higher costs. - V2RETAIL
Q3 and 9M FY26 saw strong revenue and profit growth, aided by expansion and lease gains. - SECU
8% margin reached, 4% organic growth, and digital risk intelligence expansion underway.
Next Virtu Financial earnings date
Q1 202622 Apr, 2026
Virtu Financial
Next Virtu Financial earnings date
Q1 202622 Apr, 2026
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Frequently asked questions
Virtu Financial, Inc provides data, analytics and connectivity products to clients worldwide. The Market Making segment executes market making, trading, and investment activities as a regulated financial institution under the Commodity Exchange Act (CEA) and other applicable regulatory regimes. Market Making segment also conducts proprietary trading in a range of asset classes on exchanges, dark venues and over-the-counter markets. The Execution Services segment provides brokerage services for the exchange and OTC trading businesses of third parties. Its advisory services include business development, risk management, affiliate relationships, and the design of efficient trade execution processes.
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