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Side-by-side financial comparison of GCM Grosvenor Inc. (GCMG) 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 $177.1M, roughly 1.2× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 16.3%, a 16.6% gap on every dollar of revenue. On growth, GCM Grosvenor Inc. posted the faster year-over-year revenue change (7.2% vs -10.9%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $-74.1M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% CAGR vs -3.2%).
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
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.
GCMG vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $177.1M | $208.0M |
| Net Profit | $58.2M | $33.9M |
| Gross Margin | — | — |
| Operating Margin | 30.9% | 19.1% |
| Net Margin | 32.8% | 16.3% |
| Revenue YoY | 7.2% | -10.9% |
| Net Profit YoY | 149.2% | -14.2% |
| EPS (diluted) | $0.23 | $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 | $177.1M | $208.0M | ||
| Q3 25 | $135.0M | $216.4M | ||
| Q2 25 | $119.7M | $210.5M | ||
| Q1 25 | $125.8M | $217.9M | ||
| Q4 24 | $165.3M | $233.5M | ||
| Q3 24 | $122.9M | $227.0M | ||
| Q2 24 | $117.0M | $224.4M | ||
| Q1 24 | $108.9M | $222.0M |
| Q4 25 | $58.2M | $33.9M | ||
| Q3 25 | $10.5M | $31.3M | ||
| Q2 25 | $15.4M | $42.7M | ||
| Q1 25 | $463.0K | $28.1M | ||
| Q4 24 | $7.6M | $39.5M | ||
| Q3 24 | $4.2M | $49.1M | ||
| Q2 24 | $4.8M | $26.0M | ||
| Q1 24 | $2.1M | $37.9M |
| Q4 25 | 30.9% | 19.1% | ||
| Q3 25 | 32.7% | 21.7% | ||
| Q2 25 | 16.1% | 21.5% | ||
| Q1 25 | 12.2% | 16.8% | ||
| Q4 24 | 26.4% | 21.7% | ||
| Q3 24 | 20.3% | 24.3% | ||
| Q2 24 | 17.8% | 19.7% | ||
| Q1 24 | -14.7% | 14.5% |
| Q4 25 | 32.8% | 16.3% | ||
| Q3 25 | 7.8% | 14.5% | ||
| Q2 25 | 12.9% | 20.3% | ||
| Q1 25 | 0.4% | 12.9% | ||
| Q4 24 | 4.6% | 16.9% | ||
| Q3 24 | 3.4% | 21.6% | ||
| Q2 24 | 4.1% | 11.6% | ||
| Q1 24 | 2.0% | 17.1% |
| Q4 25 | $0.23 | $5.15 | ||
| Q3 25 | $0.16 | $4.65 | ||
| Q2 25 | $0.05 | $6.12 | ||
| Q1 25 | $-0.02 | $4.05 | ||
| Q4 24 | $0.09 | $4.65 | ||
| Q3 24 | $0.03 | $5.71 | ||
| Q2 24 | $0.04 | $2.43 | ||
| Q1 24 | $-0.13 | $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 | $242.1M | — |
| Total DebtLower is stronger | $428.4M | $390.0M |
| Stockholders' EquityBook value | $27.0M | $934.0M |
| Total Assets | $813.8M | $4.3B |
| Debt / EquityLower = less leverage | 15.87× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.1M | — | ||
| Q3 25 | $182.7M | — | ||
| Q2 25 | $136.3M | — | ||
| Q1 25 | $94.5M | — | ||
| Q4 24 | $89.5M | — | ||
| Q3 24 | $98.4M | — | ||
| Q2 24 | $73.9M | — | ||
| Q1 24 | $41.9M | — |
| Q4 25 | $428.4M | $390.0M | ||
| Q3 25 | $429.3M | $390.6M | ||
| Q2 25 | $430.2M | $231.3M | ||
| Q1 25 | $431.1M | $231.7M | ||
| Q4 24 | $432.0M | $232.1M | ||
| Q3 24 | $432.9M | $237.5M | ||
| Q2 24 | $433.8M | $247.6M | ||
| Q1 24 | $384.0M | $253.0M |
| Q4 25 | $27.0M | $934.0M | ||
| Q3 25 | $-7.4M | $918.7M | ||
| Q2 25 | $-12.3M | $896.4M | ||
| Q1 25 | $-28.3M | $893.7M | ||
| Q4 24 | $-27.6M | $897.5M | ||
| Q3 24 | $-31.9M | $889.0M | ||
| Q2 24 | $-28.5M | $868.7M | ||
| Q1 24 | $-26.4M | $871.7M |
| Q4 25 | $813.8M | $4.3B | ||
| Q3 25 | $685.9M | $3.9B | ||
| Q2 25 | $636.9M | $3.7B | ||
| Q1 25 | $579.8M | $3.7B | ||
| Q4 24 | $612.7M | $4.0B | ||
| Q3 24 | $575.0M | $3.6B | ||
| Q2 24 | $543.9M | $3.6B | ||
| Q1 24 | $497.3M | $3.5B |
| Q4 25 | 15.87× | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 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 | $183.5M | $-67.2M |
| Free Cash FlowOCF − Capex | $175.0M | $-74.1M |
| FCF MarginFCF / Revenue | 98.8% | -35.6% |
| Capex IntensityCapex / Revenue | 4.8% | 3.3% |
| Cash ConversionOCF / Net Profit | 3.16× | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | $326.2M | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.5M | $-67.2M | ||
| Q3 25 | $79.8M | $108.3M | ||
| Q2 25 | $42.0M | $75.8M | ||
| Q1 25 | $33.3M | $-3.8M | ||
| Q4 24 | $148.8M | $1.8M | ||
| Q3 24 | $69.0M | $69.1M | ||
| Q2 24 | $17.5M | $70.0M | ||
| Q1 24 | $24.2M | $-34.5M |
| Q4 25 | $175.0M | $-74.1M | ||
| Q3 25 | $78.3M | $106.9M | ||
| Q2 25 | $40.8M | $74.2M | ||
| Q1 25 | $32.1M | $-6.8M | ||
| Q4 24 | $132.0M | $-3.8M | ||
| Q3 24 | $62.2M | $68.7M | ||
| Q2 24 | $12.8M | $68.6M | ||
| Q1 24 | $20.0M | $-36.5M |
| Q4 25 | 98.8% | -35.6% | ||
| Q3 25 | 58.0% | 49.4% | ||
| Q2 25 | 34.1% | 35.2% | ||
| Q1 25 | 25.5% | -3.1% | ||
| Q4 24 | 79.9% | -1.6% | ||
| Q3 24 | 50.6% | 30.3% | ||
| Q2 24 | 10.9% | 30.6% | ||
| Q1 24 | 18.4% | -16.4% |
| Q4 25 | 4.8% | 3.3% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 1.0% | 0.7% | ||
| Q1 25 | 0.9% | 1.4% | ||
| Q4 24 | 10.1% | 2.4% | ||
| Q3 24 | 5.5% | 0.2% | ||
| Q2 24 | 4.0% | 0.6% | ||
| Q1 24 | 3.9% | 0.9% |
| Q4 25 | 3.16× | -1.99× | ||
| Q3 25 | 7.61× | 3.45× | ||
| Q2 25 | 2.72× | 1.77× | ||
| Q1 25 | 71.84× | -0.13× | ||
| Q4 24 | 19.54× | 0.04× | ||
| Q3 24 | 16.60× | 1.41× | ||
| Q2 24 | 3.64× | 2.69× | ||
| Q1 24 | 11.40× | -0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
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% |
