NYSE : VEL
Velocity Financial, Inc. — Financial statements
Financials · Mortgage Finance · United States
Last price 15.95 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 629.73M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 616.34M | 556.68M | 413.33M | 315.97M | 240.34M | 181.97M |
| Total Interest Expense | 417.09M | 365.05M | 271.04M | 203.02M | 157.19M | 106.00M |
| Net Interest Income | 199.25M | 191.64M | 142.29M | 112.94M | 83.15M | 75.97M |
| Gain (Loss) on Sale of Loans & Receivables | 33.98M | 36.25M | 9.94M | 8.24M | 7.11M | 7.89M |
| Other Revenue | 55.85M | 3.53M | 26.59M | 3.45M | 5.22M | 1.61M |
| Revenue Before Loan Losses | 289.08M | 231.42M | 178.82M | 124.63M | 95.48M | 85.47M |
| Provision for Loan Losses | 4.98M | 5.80M | 1.17M | 1.92M | 1.15M | -292.00K |
| Revenue | 284.11M | 225.61M | 177.65M | 122.72M | 94.33M | 85.77M |
| Salaries & Employee Benefits | 94.96M | 90.22M | 69.59M | 48.34M | 30.46M | 19.19M |
| Cost of Services Provided | 80.64M | 73.38M | 54.41M | 37.60M | 22.21M | 16.01M |
| Other Operating Expenses | -43.03M | -84.22M | -42.74M | -34.35M | -2.89M | 10.78M |
| Total Operating Expenses | 132.57M | 79.37M | 81.26M | 51.59M | 49.78M | 45.97M |
| Operating Income | 151.54M | 146.24M | 96.39M | 71.13M | 44.55M | 39.79M |
| Pretax Income | 151.54M | 146.24M | 96.39M | 71.13M | 44.55M | 39.79M |
| Income Tax Expense | 43.34M | 41.26M | 27.93M | 18.83M | 12.03M | 10.57M |
| Earnings From Continuing Ops. | 108.20M | 104.98M | 68.47M | 52.29M | 32.52M | 29.22M |
| Minority Interest in Earnings | -502.00K | 71.00K | -47.00K | -20.00K | -308.00K | |
| Net Income | 107.70M | 105.05M | 68.42M | 52.27M | 32.21M | 29.22M |
| Preferred Dividends & Other Adjustments | 1.52M | 1.35M | 837.00K | 753.00K | 491.00K | 8.59M |
| Net Income to Common | 106.18M | 103.71M | 67.58M | 51.52M | 31.72M | 20.64M |
| Shares Outstanding (Basic) | 38.46M | 36.85M | 32.65M | 32.21M | 31.91M | 22.81M |
| Shares Outstanding (Diluted) | 39.14M | 38.18M | 35.76M | 34.48M | 34.13M | 33.98M |
| EPS (Basic) | 2.76 | 2.81 | 2.07 | 1.60 | 0.99 | 0.90 |
| EPS (Diluted) | 2.75 | 2.75 | 1.91 | 1.52 | 0.94 | 0.86 |
| Free Cash Flow | 22.53M | 17.88M | 37.47M | 48.66M | 48.35M | 57.49M |
| Free Cash Flow Per Share | 0.58 | 0.47 | 1.05 | 1.41 | 1.42 | 1.69 |
| Operating Margin | 53.34% | 64.82% | 54.26% | 57.96% | 47.23% | 46.40% |
| Profit Margin | 37.37% | 45.97% | 38.04% | 41.98% | 33.63% | 24.06% |
| Free Cash Flow Margin | 7.93% | 7.92% | 21.09% | 39.65% | 51.25% | 67.03% |
| Effective Tax Rate | 28.60% | 28.21% | 28.97% | 26.48% | 27.01% | 26.56% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 76.11M | 92.10M | 49.90M | 40.57M | 45.25M | 35.97M |
| Trading Asset Securities | 118.00K | 66.00K | ||||
| Loans & Lease Receivables | 7.40B | 6.87B | 5.27B | 4.19B | 3.59B | 2.58B |
| Other Receivables | 59.11M | 53.14M | 36.59M | 35.98M | 30.02M | 15.62M |
| Property, Plant & Equipment | 1.29M | 2.08M | 1.94M | 2.94M | 3.21M | 3.64M |
| Goodwill | 6.78M | 6.78M | 6.78M | 6.78M | 6.78M | 6.78M |
| Other Intangible Assets | 14.31M | 15.13M | 15.92M | 10.96M | 11.81M | 11.09M |
| Restricted Cash | 169.09M | 157.13M | 20.93M | 21.36M | 16.81M | 11.64M |
| Other Current Assets | 37.32M | 41.67M | 39.39M | 29.14M | 26.75M | 21.00M |
| Long-Term Deferred Tax Assets | 19.85M | 22.71M | 13.61M | 2.34M | 5.03M | 16.60M |
| Long-Term Deferred Charges | 640.00K | 840.00K | 500.00K | 501.00K | 502.00K | |
| Other Long-Term Assets | 150.80M | 120.00M | 68.19M | 44.43M | 13.66M | 17.86M |
| Total Assets | 7.96B | 7.38B | 5.53B | 4.40B | 3.75B | 2.81B |
| Accounts Payable | 184.58M | 165.07M | 144.97M | 119.20M | 88.70M | 88.05M |
| Short-Term Debt | 3.67M | |||||
| Current Portion of Long-Term Debt | 311.68M | 308.51M | 348.08M | 334.75M | 330.81M | 301.07M |
| Current Portion of Leases | 994.00K | |||||
| Long-Term Debt | 6.74B | 6.23B | 4.51B | 3.51B | 2.95B | 2.07B |
| Long-Term Leases | 2.11M | 2.70M | 2.70M | 2.70M | 4.00M | |
| Other Current Liabilities | 1.44M | 144.00K | 144.00K | 66.00K | 124.00K | 141.00K |
| Total Liabilities | 7.24B | 6.71B | 5.01B | 3.97B | 3.37B | 2.47B |
| Common Stock | 405.00K | 398.00K | 339.00K | 331.00K | 326.00K | 323.00K |
| Additional Paid-In Capital | 390.98M | 382.56M | 322.95M | 306.74M | 300.31M | 296.36M |
| Retained Earnings | 349.90M | 302.38M | 197.32M | 128.91M | 76.63M | 44.42M |
| Comprehensive Income & Other | -2.27M | -2.60M | -805.00K | -1.21M | ||
| Total Common Equity | 721.54M | 672.53M | 516.94M | 433.44M | 376.81M | 341.11M |
| Minority Interest | 3.63M | 3.15M | 3.27M | 3.43M | 3.69M | 3.38M |
| Shareholders' Equity | 725.16M | 675.69M | 520.22M | 436.87M | 380.50M | 344.49M |
| Total Liabilities & Equity | 7.96B | 7.38B | 5.53B | 4.40B | 3.75B | 2.81B |
| Total Debt | 7.05B | 6.54B | 4.86B | 3.85B | 3.28B | 2.38B |
| Net Cash (Debt) | -6.98B | -6.45B | -4.81B | -3.81B | -3.23B | -2.34B |
| Net Cash Per Share | -178.21 | -168.90 | -134.57 | -110.42 | -94.76 | -68.97 |
| Filing Date Shares Outstanding | 39.48M | 39.24M | 34.02M | 32.97M | 32.62M | 32.49M |
| Total Common Shares Outstanding | 39.29M | 38.97M | 33.55M | 32.87M | 32.49M | 32.29M |
| Working Capital | 7.24B | 6.74B | 4.93B | 3.88B | 3.29B | 2.37B |
| Book Value Per Share | 18.36 | 17.26 | 15.41 | 13.19 | 11.60 | 10.56 |
| Tangible Book Value | 714.76M | 663.60M | 507.96M | 424.29M | 367.46M | 330.40M |
| Tangible Book Value Per Share | 18.19 | 17.03 | 15.14 | 12.91 | 11.31 | 10.23 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 107.70M | 105.05M | 68.42M | 52.27M | 32.21M | 29.22M |
| Depreciation & Amortization | 1.73M | 2.02M | 2.00M | 2.30M | 2.12M | 2.41M |
| Other Amortization | 11.66M | 10.13M | 12.24M | 18.62M | 28.29M | 20.22M |
| Gain on Sale of Loans & Receivables | -15.79M | -16.81M | 3.17M | 3.99M | 3.31M | -274.00K |
| Asset Writedown & Restructuring Costs | 20.15M | 17.52M | 6.12M | 3.90M | 364.00K | 1.76M |
| Provision for Credit Losses | -73.61M | -111.21M | -54.13M | -45.21M | -7.29M | -401.00K |
| Stock-Based Compensation | 10.06M | 8.28M | 6.16M | 4.13M | 3.34M | 2.16M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -1.51M | 1.22M | 402.00K | -12.22M | 901.00K | 1.17M |
| Change in Accounts Payable | 18.46M | 19.56M | 26.28M | 19.66M | -2.56M | 16.45M |
| Change in Other Net Operating Assets | 3.75M | -3.65M | -284.00K | 8.36M | -8.04M | -360.00K |
| Other Operating Activities | -41.20M | 4.70M | -21.98M | 2.83M | 6.38M | -11.07M |
| Operating Cash Flow | 22.79M | 18.16M | 37.76M | 48.84M | 48.67M | 57.62M |
| Capital Expenditures | -263.00K | -281.00K | -289.00K | -180.00K | -326.00K | -135.00K |
| Sale of Property, Plant & Equipment | 640.00K | |||||
| Cash Acquisitions | -10.76M | |||||
| Sale (Purchase) of Intangibles | -4.76M | |||||
| Investment in Securities | 1.18M | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -1.30B | -1.57B | -1.07B | -615.51M | -929.07M | -665.42M |
| Other Investing Activities | 1.02M | -1.16M | -2.06M | 9.21M | 910.00K | 9.20M |
| Investing Cash Flow | -1.23B | -1.52B | -1.05B | -584.73M | -908.24M | -656.48M |
| Long-Term Debt Issued | 5.28B | 3.61B | 2.17B | 3.27B | 2.37B | |
| Long-Term Debt Repaid | -3.65B | -2.60B | -1.63B | -2.37B | -1.72B | |
| Net Debt Issued (Repaid) | 1.37B | 1.64B | 1.01B | 537.67M | 899.46M | 653.62M |
| Issuance of Common Stock | 12.52M | 51.88M | 10.14M | 2.31M | 607.00K | 137.00K |
| Repurchase of Common Stock | -7.46M | -7.33M | -1.55M | -861.00K | -458.00K | |
| Other Financing Activities | -16.50M | -2.06M | -4.29M | -3.34M | -25.59M | -27.58M |
| Financing Cash Flow | 1.36B | 1.68B | 1.02B | 535.77M | 874.02M | 626.17M |
| Net Cash Flow | 148.01M | 178.41M | 8.90M | -129.00K | 14.45M | 27.31M |
| Free Cash Flow | 22.53M | 17.88M | 37.47M | 48.66M | 48.35M | 57.49M |
| Free Cash Flow Margin | 7.93% | 7.92% | 21.09% | 39.65% | 51.25% | 67.03% |
| Free Cash Flow Per Share | 0.58 | 0.47 | 1.05 | 1.41 | 1.42 | 1.69 |
| Cash Interest Paid | 383.98M | 344.88M | 251.26M | 180.36M | 118.71M | 85.02M |
| Cash Income Tax Paid | 44.75M | 50.74M | 41.55M | 7.65M | 23.04M | 9.64M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 637.23M | 807.56M | 647.73M | 564.51M | 312.81M | 442.41M |
| PE Ratio | 5.87 | 7.79 | 9.58 | 10.96 | 9.86 | 21.44 |
| PS Ratio | 2.24 | 3.58 | 3.65 | 4.60 | 3.32 | 5.16 |
| PB Ratio | 0.88 | 1.20 | 1.25 | 1.29 | 0.82 | 1.28 |
| P/FCF Ratio | 28.29 | 45.17 | 17.29 | 11.60 | 6.47 | 7.70 |
| P/OCF Ratio | 27.96 | 44.47 | 17.16 | 11.56 | 6.43 | 7.68 |
| Debt / Equity Ratio | 9.72 | 9.68 | 9.35 | 8.81 | 8.62 | 6.91 |
| Debt / FCF Ratio | 313.04 | 365.81 | 129.77 | 79.10 | 67.83 | 41.40 |
| Net Debt / Equity Ratio | 9.62 | 9.54 | 9.25 | 8.72 | 8.50 | 6.80 |
| Net Debt / FCF Ratio | 309.66 | 360.65 | 128.44 | 78.26 | 66.90 | 40.77 |
| Quick Ratio | 15.14 | 14.78 | 10.87 | 9.33 | 8.73 | 6.77 |
| Current Ratio | 15.55 | 15.20 | 10.99 | 9.47 | 8.84 | 7.08 |
| Asset Turnover | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 |
| Return on Equity (ROE) | 16.32% | 17.56% | 14.31% | 12.80% | 8.97% | 8.94% |
| Return on Assets (ROA) | 1.50% | 1.63% | 1.38% | 1.28% | 0.99% | 1.19% |
| Return on Invested Capital (ROIC) | 1.42% | 1.67% | 1.42% | 1.32% | 1.02% | 1.23% |
| Earnings Yield | 17.05% | 13.01% | 10.56% | 9.26% | 10.30% | 6.61% |
| FCF Yield | 3.54% | 2.21% | 5.78% | 8.62% | 15.46% | 12.99% |
| Buyback Yield / Dilution | -6.79% | -6.76% | -3.70% | -1.03% | -0.44% | -69.17% |