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Side-by-side financial comparison of Kennedy-Wilson Holdings, Inc. (KW) 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 ($199.5M vs $120.6M, roughly 1.7× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 3.6%, a 44.5% gap on every dollar of revenue. On growth, VIRTUS INVESTMENT PARTNERS, INC. posted the faster year-over-year revenue change (-4.1% vs -11.0%). Over the past eight quarters, VIRTUS INVESTMENT PARTNERS, INC.'s revenue compounded faster (-5.7% CAGR vs -6.0%).
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
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.
KW vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $120.6M | $199.5M |
| Net Profit | $58.0M | $7.1M |
| Gross Margin | — | — |
| Operating Margin | 57.3% | 7.7% |
| Net Margin | 48.1% | 3.6% |
| Revenue YoY | -11.0% | -4.1% |
| Net Profit YoY | 32.7% | -78.1% |
| EPS (diluted) | $0.22 | $1.05 |
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.
| Q1 26 | — | $199.5M | ||
| Q4 25 | $120.6M | $208.0M | ||
| Q3 25 | $116.4M | $216.4M | ||
| Q2 25 | $135.7M | $210.5M | ||
| Q1 25 | $128.3M | $217.9M | ||
| Q4 24 | $135.5M | $233.5M | ||
| Q3 24 | $127.5M | $227.0M | ||
| Q2 24 | $132.0M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $58.0M | $33.9M | ||
| Q3 25 | $-10.2M | $31.3M | ||
| Q2 25 | $5.6M | $42.7M | ||
| Q1 25 | $-29.6M | $28.1M | ||
| Q4 24 | $43.7M | $39.5M | ||
| Q3 24 | $-66.8M | $49.1M | ||
| Q2 24 | $-48.3M | $26.0M |
| Q1 26 | — | 7.7% | ||
| Q4 25 | 57.3% | 19.1% | ||
| Q3 25 | -6.2% | 21.7% | ||
| Q2 25 | 7.4% | 21.5% | ||
| Q1 25 | -26.9% | 16.8% | ||
| Q4 24 | 36.7% | 21.7% | ||
| Q3 24 | -60.8% | 24.3% | ||
| Q2 24 | -45.5% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | 48.1% | 16.3% | ||
| Q3 25 | -8.8% | 14.5% | ||
| Q2 25 | 4.1% | 20.3% | ||
| Q1 25 | -23.1% | 12.9% | ||
| Q4 24 | 32.3% | 16.9% | ||
| Q3 24 | -52.4% | 21.6% | ||
| Q2 24 | -36.6% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.22 | $5.15 | ||
| Q3 25 | $-0.15 | $4.65 | ||
| Q2 25 | $-0.05 | $6.12 | ||
| Q1 25 | $-0.30 | $4.05 | ||
| Q4 24 | $0.24 | $4.65 | ||
| Q3 24 | $-0.56 | $5.71 | ||
| Q2 24 | $-0.43 | $2.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $184.5M | $136.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $93.6B |
| Total Assets | $6.6B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| Q4 25 | $184.5M | — | ||
| Q3 25 | $382.6M | — | ||
| Q2 25 | $309.1M | — | ||
| Q1 25 | $356.6M | — | ||
| Q4 24 | $217.5M | — | ||
| Q3 24 | $367.1M | — | ||
| Q2 24 | $366.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $1.5B | $934.0M | ||
| Q3 25 | $1.5B | $918.7M | ||
| Q2 25 | $1.6B | $896.4M | ||
| Q1 25 | $1.6B | $893.7M | ||
| Q4 24 | $1.6B | $897.5M | ||
| Q3 24 | $1.6B | $889.0M | ||
| Q2 24 | $1.7B | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $4.3B | ||
| Q3 25 | $6.7B | $3.9B | ||
| Q2 25 | $6.8B | $3.7B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | $7.0B | $4.0B | ||
| Q3 24 | $7.4B | $3.6B | ||
| Q2 24 | $7.5B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 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× |
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 | $11.4M | — |
| Free Cash FlowOCF − Capex | $-55.2M | — |
| FCF MarginFCF / Revenue | -45.8% | — |
| Capex IntensityCapex / Revenue | 55.2% | — |
| Cash ConversionOCF / Net Profit | 0.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-103.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.4M | $-67.2M | ||
| Q3 25 | $-7.6M | $108.3M | ||
| Q2 25 | $42.0M | $75.8M | ||
| Q1 25 | $-51.9M | $-3.8M | ||
| Q4 24 | $55.1M | $1.8M | ||
| Q3 24 | $-5.6M | $69.1M | ||
| Q2 24 | $36.7M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.2M | $-74.1M | ||
| Q3 25 | $-18.0M | $106.9M | ||
| Q2 25 | $29.4M | $74.2M | ||
| Q1 25 | $-59.7M | $-6.8M | ||
| Q4 24 | $-76.5M | $-3.8M | ||
| Q3 24 | $-27.7M | $68.7M | ||
| Q2 24 | $-500.0K | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | -45.8% | -35.6% | ||
| Q3 25 | -15.5% | 49.4% | ||
| Q2 25 | 21.7% | 35.2% | ||
| Q1 25 | -46.5% | -3.1% | ||
| Q4 24 | -56.5% | -1.6% | ||
| Q3 24 | -21.7% | 30.3% | ||
| Q2 24 | -0.4% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 55.2% | 3.3% | ||
| Q3 25 | 8.9% | 0.7% | ||
| Q2 25 | 9.3% | 0.7% | ||
| Q1 25 | 6.1% | 1.4% | ||
| Q4 24 | 97.1% | 2.4% | ||
| Q3 24 | 17.3% | 0.2% | ||
| Q2 24 | 28.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | 7.50× | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | 1.26× | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
