Virtus Investment Partners, Inc. Financial Ratios — VRTS

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	122.78	77.32	51.17	45.42
Return on Assets (%)	66.82	12.17	15.38	14.54	4.51	5.76	2.17	2.77	3.15	2.4	5.62	2.98	3.42	3.17	3.34
Return on Capital (%)	- -	-5.85	-12.27	-18.87	-10.95	-46.32	7.92	8.17	8.1	4.69	8.39	7.43	9.9	8.31	8.43
Return on Invested Capital (%)	- -	13.78	17.54	16.62	5.51	5.19	2.22	3.18	3.29	3.32	7.72	4.16	3.42	3.9	3.3
Gross Margin (%)	54.35	62.1	66.01	68.84	63.94	57.84	54.9	56.74	57.22	55.69	63.25	57.89	51.9	52.08	52.74
EBITDA Margin (%)	10.74	24.5	31.15	30.71	22.97	18.92	20.49	26.59	29.64	30.37	39.88	31.54	25.77	27.4	27.22
Operating Margin (%)	7.85	22.28	29.33	29.2	21.14	17.12	16.17	20.53	22.59	23.92	34.67	23.76	17.45	19.76	19.71
Incremental Operating Margin (%)	8.36	60.87	47.32	28.41	73.97	43.28	13.18	35.11	126.74	42.25	52.11	138.13	155.83	51.48	20.41
Pretax Margin (%)	6.41	23.27	31.44	30.38	17.79	21.7	18.95	19.78	25.02	27.17	36.29	18.59	22.17	23.03	22.08
Profit Margin (%)	71.73	13.53	19.39	21.78	9.23	15.07	8.72	13.7	17.01	13.25	21.35	13.33	15.52	13.49	16.32
Net Income to Common Margin (%)	55.09	13.5	19.39	21.78	9.23	15.07	6.76	12.19	15.53	13.25	21.35	13.33	15.52	13.49	16.32
Effective Tax Rate (%)	- -	41.71	36.73	28.87	54.66	30.15	50.34	30.23	25	26.81	25.68	34.94	24.17	26.66	27.38
Dvd Payout Ratio (%)	-21.09	-0.17	- -	8.5	61.16	28.1	30.4	20.56	15.86	15.56	9.89	49.37	34.17	31.73	48.36
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	62.17	50.9	34.93	23.46

Credit (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	21	38	- -	- -	153	389	1,706	1,949	2,390	2,392	2,300	2,338	2,254	2,474	2,843
ST Debt	- -	15	- -	- -	- -	30	248	329	278	- -	- -	- -	- -	- -	- -
LT Debt	21	23	- -	- -	153	359	1,457	1,620	2,112	2,392	2,300	2,338	2,254	2,474	2,843
Total Debt/EBITDA	0.98	0.55	- -	- -	1.75	6.39	19.62	13.3	14.34	13.06	5.92	8.41	10.39	10	12.32
Net Debt/EBITDA	-1.39	-0.49	-2.25	-1.48	0.63	5.03	16.93	11.57	12.41	11.24	4.41	6.29	8.46	8.1	9.85
Total Debt/EBIT	1.34	0.61	- -	- -	1.9	7.06	24.86	17.22	18.82	16.57	6.81	11.16	15.35	13.87	17.01
Net Debt/EBIT	-1.9	-0.54	-2.39	-1.55	0.69	5.56	21.46	14.98	16.29	14.26	5.07	8.35	12.5	11.24	13.6
EBITDA to Interest Expense	27.85	79.91	154.42	256.56	86.74	5.09	1.84	1.74	1.49	1.88	5.58	2.98	1.21	1.35	1.42
EBITDA-CapEx/Interest Expense	27.85	79.91	154.42	256.56	86.74	5.09	1.84	1.74	1.49	1.88	5.58	2.98	1.21	1.35	1.42
EBIT to Interest Expense	20.35	72.65	145.41	243.97	79.82	4.6	1.45	1.34	1.14	1.48	4.85	2.24	0.82	0.97	1.03
Interest Expense	1	1	1	1	1	12	47	84	111	97	70	93	179	183	162
Common Equity/Total Assets	-250.72	-204.46	-93.82	-72.62	-54.96	-51.45	-14.9	-10.83	-6.71	-3.9	1.55	3.3	5.64	6.72	7.95
Long-Term Debt/Equity (%)	9.78	9.17	- -	- -	26.16	99.95	239.16	231.02	281.61	285.93	235.75	249.65	231.6	245.22	273.95
Long-Term Debt/Capital (%)	-3.23	-3.55	- -	- -	-61.97	19,508.48	100.42	88.98	89.49	100.41	91.69	90.34	87.68	86.69	86.47
Long-Term Debt/Total Assets (%)	7.46	6.82	- -	- -	17.75	43.52	56.25	56.44	65.92	68.98	58.46	59.15	61.27	61.94	66.25
Total Debt/Equity (%)	9.78	15.23	- -	- -	26.16	108.31	279.91	277.96	318.65	285.93	235.75	249.65	231.6	245.22	273.95
Total Debt/Capital (%)	-3.23	-5.9	- -	- -	-61.97	21,139.8	117.53	107.06	101.27	100.41	91.69	90.34	87.68	86.69	86.47
Total Debt/Total Assets (%)	7.46	11.33	- -	- -	17.75	47.16	65.84	67.91	74.59	68.98	58.46	59.15	61.27	61.94	66.25
Net Debt to Equity	-13.86	-13.51	-50.75	-34.67	9.47	85.27	241.6	241.78	275.79	246.06	175.73	186.81	188.59	198.68	218.99
Net Debt/Capital (%)	4.28	4.76	32.54	29.56	-16.07	-378.58	120.89	108.2	101.46	100.48	89.16	87.5	82.3	81.67	80.86
EBITDA	22	68	121	138	87	61	87	147	167	183	389	278	217	247	231
EBITDA-CapEx	22	68	121	138	87	61	87	147	167	183	389	278	217	247	231
Operating Income (Loss)	16	62	114	131	80	55	69	113	127	144	338	209	147	178	167

Liquidity (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	1.4	- -	- -	- -	3.5	0.71	- -	1.92	- -	- -	- -	- -	- -	- -
Current Ratio	- -	1.89	- -	- -	- -	2.64	0.62	- -	1.98	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	1.89	- -	- -	- -	4.29	0.84	- -	2.29	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	1.04	0.75	- -	- -	0.92	-0.69	-0.26	-0.37	-2.26	- -	- -	- -	- -	- -
Common Equity/Total Assets	-250.72	-204.46	-93.82	-72.62	-54.96	-51.45	-14.9	-10.83	-6.71	-3.9	1.55	3.3	5.64	6.72	7.95
Long-Term Debt/Equity (%)	9.78	9.17	- -	- -	26.16	99.95	239.16	231.02	281.61	285.93	235.75	249.65	231.6	245.22	273.95
Long-Term Debt/Capital (%)	-3.23	-3.55	- -	- -	-61.97	19,508.48	100.42	88.98	89.49	100.41	91.69	90.34	87.68	86.69	86.47
Long-Term Debt/Total Assets (%)	7.46	6.82	- -	- -	17.75	43.52	56.25	56.44	65.92	68.98	58.46	59.15	61.27	61.94	66.25
Total Debt/Equity (%)	9.78	15.23	- -	- -	26.16	108.31	279.91	277.96	318.65	285.93	235.75	249.65	231.6	245.22	273.95
Total Debt/Capital (%)	-3.23	-5.9	- -	- -	-61.97	21,139.8	117.53	107.06	101.27	100.41	91.69	90.34	87.68	86.69	86.47
Total Debt/Total Assets (%)	7.46	11.33	- -	- -	17.75	47.16	65.84	67.91	74.59	68.98	58.46	59.15	61.27	61.94	66.25
CFO/Total Liabilities	34.78	46.78	26.24	-52.4	-75.77	4.49	-9.23	-2.88	-1.5	-8.6	22.5	4.4	8.77	0.06	-2.07
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.38	5.2	9.75	9.47	2.93	1.16	0.19	0.55	0.56	0.86	1.44	1.1	1.15	1.09	0.93

Working Capital (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	8.41	8.65	8.86	8.98	8.59	8.62	8.36	8.13	7.8	7.61	9.36	7.9	8.08	7.98	7.71
Days Sales Outstanding	43.41	42.21	41.18	40.63	42.47	42.34	43.66	44.92	46.8	47.99	39.02	46.19	45.19	45.74	47.34
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	13.17	7.11	5.29	4.54	5.02	5.63	6.99	8.29	9.39	10.99	9.7	9.09	9.07	8.2	7.71
Accounts Payable Turnover Days	27.72	51.34	68.95	80.33	72.77	64.87	52.24	44.02	38.87	33.23	37.62	40.16	40.24	44.52	47.37
Cash Conversion Cycle	15.7	-9.13	-27.77	-39.7	-30.29	-22.53	-8.58	0.89	7.92	14.77	1.39	6.03	4.94	1.22	-0.03
Inventory to Cash Days	43.41	42.21	41.18	40.63	42.47	42.34	43.66	44.92	46.8	47.99	39.02	46.19	45.19	45.74	47.34
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	472	935	1,638	1,550	1,033	903	807	570	848	1,654	2,279	1,415	1,753	1,562	1,114
- Cash & Cash Equivalents	45	63	272	203	97	83	233	254	321	333	586	589	340	400	477
+ Preferred Equity and Hybrid Capital	35	- -	- -	- -	- -	- -	111	111	111	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	3	42	23	74	37	21	71	74	125	147	120	109	111	104
+ Total Debt	21	38	- -	- -	153	389	1,706	1,949	2,390	2,392	2,300	2,338	2,254	2,474	2,843
Enterprise Value	468	868	1,260	1,126	830	1,170	2,302	2,386	3,039	3,837	4,141	3,284	3,775	3,748	3,584
Total Capital	-661	-639	-563	-485	-246	2	1,451	1,821	2,360	2,382	2,508	2,588	2,571	2,854	3,288
Total Debt/Capital (%)	-3.23	-5.9	- -	- -	-61.97	21,139.8	117.53	107.06	101.27	100.41	91.69	90.34	87.68	86.69	86.47
Total Debt / EV	0.05	0.04	- -	- -	0.18	0.33	0.74	0.82	0.79	0.62	0.56	0.71	0.6	0.66	0.79
EV/Sales	2.31	3.12	3.25	2.51	2.18	3.64	5.42	4.33	5.41	6.36	4.25	3.72	4.49	4.15	4.23
EV/EBITDA	21.51	12.72	10.43	8.17	9.51	19.22	26.48	16.27	18.24	20.95	10.65	11.81	17.41	15.15	15.53
EV/EBIT	29.44	13.99	11.08	8.59	10.33	21.25	33.55	21.08	23.93	26.59	12.26	15.68	25.72	21.01	21.44
EV/Cash Flow to Firm	14.46	21.53	42.95	- -	- -	39.97	- -	- -	64.83	- -	5.77	16.98	10.13	27.52	70.65
EV/Free Cash Flow to Firm	14.46	21.53	42.95	- -	- -	39.97	- -	- -	64.83	- -	5.77	16.98	10.13	27.52	70.65
Diluted Market Cap	519	976	1,687	1,584	1,052	923	834	677	992	1,731	2,378	1,451	1,783	1,590	1,130
Diluted Enterprise Value	531	954	1,458	1,404	1,181	1,267	2,438	2,555	3,246	3,914	4,239	3,321	3,806	3,776	3,600
EV per Share	75.42	112.33	153.88	123.85	94.39	153.03	328.29	332.53	436.46	503.55	539.77	444.37	520.79	529.24	524.78
TTM Sales	203	279	388	449	380	322	424	551	562	603	975	882	841	903	848
TTM EBITDA	22	68	121	138	87	61	87	147	167	183	389	278	217	247	231
TTM Operating Income	16	62	114	131	80	55	69	113	127	144	338	209	147	178	167
TTM Cash Flow to Firm	32	40	29	-58	-209	29	-159	-4	47	-155	717	193	373	136	51
TTM Free Cash Flow to Firm	32	40	29	-58	-209	29	-159	-4	47	-155	717	193	373	136	51

Multiples (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	21.96	24.52	58.5	-26.91	-5.03	44.14	-4.56	-10.83	-27.01	-7.65	3.57	10.94	7.52	906.2	-16.82
EV/EBIT	29.44	13.99	11.08	8.59	10.33	21.25	33.55	21.08	23.93	26.59	12.26	15.68	25.72	21.01	21.44
Enterprise Value	468	868	1,260	1,126	830	1,170	2,302	2,386	3,039	3,837	4,141	3,284	3,775	3,748	3,584
Low Price	43.26	69	121.22	151.81	94.52	66.12	97.6	70	70	55.37	200.94	141.8	165	190.42	142.18
EV/Sales	2.31	3.12	3.25	2.51	2.18	3.64	5.42	4.33	5.41	6.36	4.25	3.72	4.49	4.15	4.23
EV/EBITDA	21.51	12.72	10.43	8.17	9.51	19.22	26.48	16.27	18.24	20.95	10.65	11.81	17.41	15.15	15.53
Price/Earnings	4.23	24.85	21.78	15.86	29.43	18.61	28.14	8.48	9.71	20.68	10.95	12.04	13.42	12.83	8.05
Price/Earnings Average	3.34	17.8	20.19	17.3	31.7	14.28	27.33	12.67	8.49	12.5	10.33	12.75	11.02	13.17	8.92
Price/Earnings High	4.5	25.05	27.1	21.15	42.85	20.2	30.96	14.74	10.09	20.82	12.49	19.05	13.78	15.32	11.05
Price/Earnings Low	2.41	14.18	13.2	14.13	23.69	10.43	23.87	7.47	5.58	5.28	7.41	8.92	9.16	11.08	7.02
Price/Book Value	-0.66	-1.37	-2.71	-3.05	-2.19	-2.13	-2.09	-1.83	-3.94	-12.24	37.32	10.85	8.45	5.82	3.27
Price/Book Value Average	-0.52	-0.98	-2.51	-3.33	-2.35	-1.63	-2.03	-2.74	-3.45	-7.39	35.19	11.5	6.94	5.98	3.62
Price/Book Value High	-0.7	-1.38	-3.37	-4.07	-3.18	-2.31	-2.3	-3.19	-4.1	-12.32	42.55	17.17	8.67	6.95	4.48
Price/Book Value Low	-0.37	-0.78	-1.64	-2.72	-1.76	-1.19	-1.77	-1.62	-2.27	-3.12	25.24	8.04	5.76	5.03	2.85
Price/Tangible Book Value	3.74	4.83	3.38	2.87	1.93	2.88	30.5	-14.73	22.01	6.22	16.68	9.74	12.18	6.69	3.56
Price/Tangible Book Value Average	2.96	3.46	3.13	3.13	2.08	2.21	29.63	-22.01	19.25	3.76	15.73	10.32	10	6.87	3.94
Price/Tangible Book Value High	3.98	4.86	4.2	3.83	2.81	3.12	33.56	-25.61	22.89	6.26	19.03	15.41	12.5	7.99	4.88
Price/Tangible Book Value Low	2.13	2.75	2.05	2.56	1.55	1.61	25.88	-12.99	12.66	1.59	11.28	7.21	8.31	5.77	3.1
Price/Sales	2.33	3.36	4.22	3.45	2.72	2.81	1.9	1.03	1.51	2.74	2.34	1.6	2.08	1.73	1.31
Price/Sales Average	1.84	2.4	3.92	3.77	2.93	2.15	1.85	1.54	1.32	1.66	2.21	1.7	1.71	1.78	1.46
Price/Sales High	2.48	3.38	5.26	4.61	3.96	3.05	2.09	1.8	1.57	2.76	2.67	2.54	2.14	2.07	1.8
Price/Sales Low	1.33	1.91	2.56	3.08	2.19	1.57	1.61	0.91	0.87	0.7	1.58	1.19	1.42	1.49	1.15
Price/Cash Flow	19.96	23.47	56.8	-26.33	-4.93	43.16	-4.41	-9.11	-23.08	-7.31	3.42	10.67	7.39	890.11	-16.58
Price/Cash Flow Average	15.79	16.81	52.65	-28.7	-5.31	33.11	-4.29	-13.6	-20.19	-4.42	3.23	11.3	6.07	913.76	-18.37
Price/Cash Flow High	21.26	23.66	70.67	-35.1	-7.18	46.84	-4.86	-15.83	-23.99	-7.36	3.9	16.87	7.59	1,062.86	-22.76
Price/Cash Flow Low	11.36	13.39	34.42	-23.44	-3.97	24.17	-3.74	-8.03	-13.27	-1.87	2.32	7.9	5.04	768.41	-14.45
Price/Free Cash Flow Average	17.37	17.57	54.22	-29.34	-5.41	33.86	-4.43	-16.17	-23.62	-4.63	3.37	11.59	6.18	930.27	-18.63
Price/Free Cash Flow High	23.39	24.72	72.78	-35.87	-7.32	47.9	-5.02	-18.82	-28.08	-7.71	4.07	17.31	7.72	1,082.08	-23.09
Price/Free Cash Flow Low	12.5	13.99	35.45	-23.96	-4.04	24.72	-3.87	-9.54	-15.53	-1.95	2.42	8.1	5.13	782.3	-14.66
EV/Sales Average	1.9	2.32	3.32	3.36	3.27	3.22	5.63	4.95	5.33	5.28	4.12	3.82	4.11	4.2	4.37
EV/Sales High	2.54	3.3	4.66	4.2	4.3	4.11	5.87	5.2	5.58	6.38	4.58	4.66	4.54	4.49	4.72
EV/Sales Low	1.38	1.83	1.97	2.67	2.53	2.64	5.39	4.32	4.88	4.32	3.49	3.31	3.83	3.91	4.06
EV/EBITDA Average	17.67	9.48	10.67	10.96	14.22	17.01	27.46	18.61	17.97	17.38	10.32	12.11	15.97	15.32	16.05
EV/EBITDA High	23.61	13.48	14.98	13.69	18.7	21.73	28.66	19.56	18.81	21.01	11.48	14.77	17.63	16.38	17.33
EV/EBITDA Low	12.86	7.48	6.32	8.71	11	13.95	26.32	16.23	16.45	14.22	8.76	10.49	14.84	14.29	14.91
EV/EBIT Average	24.18	10.43	11.33	11.52	15.45	18.8	34.8	24.11	23.58	22.05	11.87	16.08	23.59	21.25	22.16
EV/EBIT High	32.31	14.82	15.9	14.39	20.32	24.02	36.32	25.34	24.68	26.67	13.2	19.61	26.04	22.71	23.92
EV/EBIT Low	17.6	8.23	6.71	9.16	11.95	15.41	33.35	21.03	21.58	18.05	10.07	13.93	21.93	19.82	20.58
Last Price	76.01	120.94	200.05	170.49	117.46	118.05	115.05	79.43	121.72	217	297.1	191.44	241.76	220.58	163.15
High Price	80.95	121.93	248.89	227.29	171	128.1	126.6	138.03	126.55	218.5	338.8	302.9	248.23	263.39	223.96
Enterprise Value Average	385	647	1,289	1,509	1,242	1,036	2,388	2,729	2,995	3,183	4,011	3,368	3,462	3,790	3,704
Enterprise Value High	514	920	1,808	1,886	1,633	1,323	2,492	2,868	3,135	3,848	4,461	4,108	3,822	4,051	3,999
Enterprise Value Low	280	511	763	1,200	960	849	2,288	2,380	2,741	2,605	3,403	2,917	3,219	3,535	3,441

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	6	8	9	9	8	6	7	7	7	8	8	7	7	7	7
Diluted Weighted Avg Shares	7	8	8	9	9	8	7	9	8	8	8	8	7	7	7
Basic Weighted Avg Shares	6	8	8	9	9	8	7	7	7	8	8	7	7	7	7
Revenue per Share	32.64	36.05	47.35	49.35	43.22	42.07	60.52	76.85	80.75	79.16	127.04	119.3	116.08	127.48	124.16
EBITDA per Share	3.51	8.83	14.75	15.15	9.93	7.96	12.4	20.44	23.93	24.04	50.66	37.62	29.91	34.93	33.79
Operating Income per Share	2.56	8.03	13.89	14.41	9.14	7.2	9.78	15.78	18.24	18.94	44.04	28.34	20.25	25.19	24.48
Basic EPS, GAAP	17.98	4.87	9.18	10.75	3.99	6.34	4.09	9.37	12.54	10.49	27.13	15.9	18.02	17.19	20.27
Basic EPS from Cont Ops	23.41	4.89	9.42	10.67	3.49	6.38	5.69	10.6	15.15	15.74	34.26	14.43	19.52	21.53	19.91
Diluted EPS, GAAP	16.34	4.66	8.92	10.51	3.92	6.2	3.96	7.88	10.71	10.02	26.01	15.5	17.71	16.89	19.97
Diluted EPS from Cont Ops	21.28	4.68	9.15	10.44	3.42	6.23	5.51	8.92	12.95	15.04	32.84	14.06	19.18	21.14	19.63
Dividend per Share	1.64	- -	- -	0.9	1.82	1.8	2.69	3.12	3.64	3.27	4.09	6.39	7.18	8.21	9.46
Cash Flow per Share	3.81	5.15	3.52	-6.48	-23.81	2.74	-26.07	-8.72	-5.27	-29.67	86.77	17.95	32.72	0.25	-9.84
Free Cash Flow per Basic Share	3.81	5.15	3.52	-6.48	-23.81	2.74	-26.07	-8.72	-5.27	-29.67	86.77	17.95	32.72	0.25	-9.84
Cash & Equivalents per Share	9.7	13.89	51.32	49.16	48.8	20.73	48.76	44.05	55.14	43.77	76.32	79.63	46.95	56.42	69.87
Book Value per Share	-115.6	-88.05	-73.9	-55.82	-53.71	-55.46	-55.06	-43.32	-30.89	-17.74	7.96	17.64	28.62	37.89	49.94
Tangible Book Value per Share	20.33	25.06	59.25	59.33	60.9	41.02	3.77	-5.39	5.53	34.88	17.81	19.66	19.86	32.98	45.87

Virtus Investment Partners, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)