VRTS Intrinsic Value Calculator – VIRTUS INVESTMENT PARTNERS Reports Second Quarter FY2023 Earnings Results
August 15, 2023
🌥️Earnings Overview
On July 28th 2023, VIRTUS INVESTMENT PARTNERS ($NASDAQ:VRTS) reported their earnings results for the second quarter of FY2023, revealing a 5.3% decline in total revenue to USD 212.3 million. However, they also saw a 73.9% jump in net income year-on-year, coming in at USD 30.3 million for this quarter.
Stock Price
VIRTUS INVESTMENT PARTNERS, a publicly traded asset management firm, announced its financial results for the second quarter of its fiscal year 2023 on Friday. The company opened at $202.3 and closed at $201.8, amounting to a 4.3% decrease from the prior closing price of $210.8. The company’s performance was attributed to a strong start to the year with several new clients opting for investment services from VIRTUS INVESTMENT PARTNERS, along with strong performance in fixed income and equity strategies. Moving forward, VIRTUS INVESTMENT PARTNERS is looking to capitalize on their growth momentum by expanding their presence in the U.S. and China markets. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for VRTS. More…
| Total Revenues | Net Income | Net Margin |
| 815.73 | 135.96 | 16.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for VRTS. More…
| Operations | Investing | Financing |
| 171.49 | -27.47 | -102.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for VRTS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.7k | 2.75k | 116.83 |
Key Ratios Snapshot
Some of the financial key ratios for VRTS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.8% | 4.8% | 37.8% |
| FCF Margin | ROE | ROA |
| 20.3% | 22.8% | 5.2% |
Analysis – VRTS Intrinsic Value Calculator
GoodWhale has completed its assessment of VIRTUS INVESTMENT PARTNERS’s fundamentals. Our proprietary Valuation Line shows that the fair value of VIRTUS INVESTMENT PARTNERS share is approximately $227.8. At the time of writing, the stock is traded at $201.8, which represents a discount of 11.4%. Therefore, we believe VIRTUS INVESTMENT PARTNERS stock is fairly priced and undervalued at this moment in time. More…
Peers
Virtus Investment Partners Inc is an American investment management company founded in 1987. The company offers a range of services including asset management, capital markets, and merchant banking. Virtus Investment Partners Inc has a market capitalization of $4.85 billion as of 2019. The company’s competitors include Value Partners Group Ltd, PT Ashmore Asset Management Indonesia Tbk, Diamond Hill Investment Group Inc.
– Value Partners Group Ltd ($SEHK:00806)
Value Partners Group Ltd is a Hong Kong-based investment management firm founded in 1991. The company manages assets for both institutional and retail investors, with a focus on Greater China equities. As of 2022, Value Partners Group Ltd had a market cap of 3.5B and a Return on Equity of -1.94%. The company has been negatively impacted by the COVID-19 pandemic, as many of its clients are based in China and have been affected by the economic slowdown.
– PT Ashmore Asset Management Indonesia Tbk ($IDX:AMOR)
Ashmore Asset Management Indonesia Tbk is one of the largest asset management companies in Indonesia with a market cap of 2.48T as of 2022. The company has a strong focus on providing high-quality asset management services to its clients and has a proven track record in delivering superior returns. The company’s ROE of 33.27% is significantly higher than the average for the Indonesian asset management industry, indicating the company’s strong performance.
– Diamond Hill Investment Group Inc ($NASDAQ:DHIL)
As of 2022, Diamond Hill Investment Group has a market cap of 565.61M and a ROE of 29.78%. The company is an asset management firm that focuses on delivering superior long-term investment results for its clients. Diamond Hill’s investment philosophy is built on the foundation of active management, fundamental research, and disciplined investing. The company seeks to generate alpha through its deep understanding of companies, industries, and markets. Diamond Hill has a team of experienced investment professionals who are committed to providing high-quality service and investment results for its clients.
Summary
Virtus Investment Partners reported their second quarter earnings for Fiscal Year 2023 on July 28th. The company saw a 5.3% decrease in total revenues compared to the same period the previous year, although their net income rose by 73.9%. This news has caused the stock price to drop. Investors should consider whether the current earnings are sufficient to justify current valuations, or if they should expect further declines in the future.
Additionally, they should pay close attention to Virtus’s ability to increase profits and attract new investments. Overall, a cautious eye is warranted when considering investing in Virtus Investment Partners.
