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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($208.0M vs $86.6M, roughly 2.4× AlTi Global, Inc.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs -15.1%, a 31.4% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs -10.9%). AlTi Global, Inc. produced more free cash flow last quarter ($-52.2M vs $-74.1M). Over the past eight quarters, AlTi Global, Inc.'s revenue compounded faster (30.6% CAGR vs -3.2%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
ALTI vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $208.0M |
| Net Profit | $-13.1M | $33.9M |
| Gross Margin | — | — |
| Operating Margin | -2.1% | 19.1% |
| Net Margin | -15.1% | 16.3% |
| Revenue YoY | 87.0% | -10.9% |
| Net Profit YoY | 75.6% | -14.2% |
| EPS (diluted) | — | $5.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $86.6M | $208.0M | ||
| Q3 25 | $57.2M | $216.4M | ||
| Q2 25 | $53.1M | $210.5M | ||
| Q1 25 | $58.0M | $217.9M | ||
| Q4 24 | $46.3M | $233.5M | ||
| Q3 24 | $51.8M | $227.0M | ||
| Q2 24 | $49.5M | $224.4M | ||
| Q1 24 | $50.8M | $222.0M |
| Q4 25 | $-13.1M | $33.9M | ||
| Q3 25 | $-84.1M | $31.3M | ||
| Q2 25 | $-24.4M | $42.7M | ||
| Q1 25 | $1.9M | $28.1M | ||
| Q4 24 | $-53.8M | $39.5M | ||
| Q3 24 | $-72.5M | $49.1M | ||
| Q2 24 | $-6.4M | $26.0M | ||
| Q1 24 | $29.7M | $37.9M |
| Q4 25 | -2.1% | 19.1% | ||
| Q3 25 | -49.8% | 21.7% | ||
| Q2 25 | -56.7% | 21.5% | ||
| Q1 25 | -23.3% | 16.8% | ||
| Q4 24 | -42.7% | 21.7% | ||
| Q3 24 | -18.4% | 24.3% | ||
| Q2 24 | -30.2% | 19.7% | ||
| Q1 24 | -28.9% | 14.5% |
| Q4 25 | -15.1% | 16.3% | ||
| Q3 25 | -147.0% | 14.5% | ||
| Q2 25 | -45.9% | 20.3% | ||
| Q1 25 | 3.3% | 12.9% | ||
| Q4 24 | -116.1% | 16.9% | ||
| Q3 24 | -140.0% | 21.6% | ||
| Q2 24 | -12.9% | 11.6% | ||
| Q1 24 | 58.4% | 17.1% |
| Q4 25 | — | $5.15 | ||
| Q3 25 | — | $4.65 | ||
| Q2 25 | $-0.33 | $6.12 | ||
| Q1 25 | $-0.04 | $4.05 | ||
| Q4 24 | $-0.71 | $4.65 | ||
| Q3 24 | $-0.88 | $5.71 | ||
| Q2 24 | $-0.18 | $2.43 | ||
| Q1 24 | $0.18 | $4.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.2M | — |
| Total DebtLower is stronger | $883.0K | $390.0M |
| Stockholders' EquityBook value | $600.1M | $934.0M |
| Total Assets | $1.2B | $4.3B |
| Debt / EquityLower = less leverage | 0.00× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | — | ||
| Q3 25 | $35.8M | — | ||
| Q2 25 | $42.4M | — | ||
| Q1 25 | $52.8M | — | ||
| Q4 24 | $64.4M | — | ||
| Q3 24 | $220.6M | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $134.2M | — |
| Q4 25 | $883.0K | $390.0M | ||
| Q3 25 | $586.0K | $390.6M | ||
| Q2 25 | $673.0K | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | $0 | $232.1M | ||
| Q3 24 | $128.4M | $237.5M | ||
| Q2 24 | $164.0M | $247.6M | ||
| Q1 24 | $183.7M | $253.0M |
| Q4 25 | $600.1M | $934.0M | ||
| Q3 25 | $607.2M | $918.7M | ||
| Q2 25 | $685.4M | $896.4M | ||
| Q1 25 | $665.2M | $893.7M | ||
| Q4 24 | $658.4M | $897.5M | ||
| Q3 24 | $707.0M | $889.0M | ||
| Q2 24 | $540.2M | $868.7M | ||
| Q1 24 | $510.9M | $871.7M |
| Q4 25 | $1.2B | $4.3B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.2B | $3.7B | ||
| Q4 24 | $1.3B | $4.0B | ||
| Q3 24 | $1.4B | $3.6B | ||
| Q2 24 | $1.3B | $3.6B | ||
| Q1 24 | $1.3B | $3.5B |
| Q4 25 | 0.00× | 0.42× | ||
| Q3 25 | 0.00× | 0.43× | ||
| Q2 25 | 0.00× | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 0.00× | 0.26× | ||
| Q3 24 | 0.18× | 0.27× | ||
| Q2 24 | 0.30× | 0.29× | ||
| Q1 24 | 0.36× | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-51.4M | $-67.2M |
| Free Cash FlowOCF − Capex | $-52.2M | $-74.1M |
| FCF MarginFCF / Revenue | -60.3% | -35.6% |
| Capex IntensityCapex / Revenue | 0.9% | 3.3% |
| Cash ConversionOCF / Net Profit | — | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $-67.2M | ||
| Q3 25 | $-53.5M | $108.3M | ||
| Q2 25 | $-19.9M | $75.8M | ||
| Q1 25 | $-30.2M | $-3.8M | ||
| Q4 24 | $-50.7M | $1.8M | ||
| Q3 24 | $-4.9M | $69.1M | ||
| Q2 24 | $-30.2M | $70.0M | ||
| Q1 24 | $-15.5M | $-34.5M |
| Q4 25 | $-52.2M | $-74.1M | ||
| Q3 25 | — | $106.9M | ||
| Q2 25 | $-20.0M | $74.2M | ||
| Q1 25 | $-31.0M | $-6.8M | ||
| Q4 24 | $-58.2M | $-3.8M | ||
| Q3 24 | $-9.4M | $68.7M | ||
| Q2 24 | $-31.2M | $68.6M | ||
| Q1 24 | $-15.7M | $-36.5M |
| Q4 25 | -60.3% | -35.6% | ||
| Q3 25 | — | 49.4% | ||
| Q2 25 | -37.6% | 35.2% | ||
| Q1 25 | -53.4% | -3.1% | ||
| Q4 24 | -125.7% | -1.6% | ||
| Q3 24 | -18.2% | 30.3% | ||
| Q2 24 | -63.2% | 30.6% | ||
| Q1 24 | -30.9% | -16.4% |
| Q4 25 | 0.9% | 3.3% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 1.3% | 1.4% | ||
| Q4 24 | 16.3% | 2.4% | ||
| Q3 24 | 8.7% | 0.2% | ||
| Q2 24 | 2.2% | 0.6% | ||
| Q1 24 | 0.4% | 0.9% |
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | -15.80× | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | -0.52× | -0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
