Annual Income Statements for Velocity Financial
This table shows Velocity Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Velocity Financial
This table shows Velocity Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
9.98 |
7.47 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Consolidated Net Income / (Loss) |
|
10 |
8.03 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Net Income / (Loss) Continuing Operations |
|
10 |
8.09 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Total Pre-Tax Income |
|
14 |
12 |
15 |
17 |
17 |
22 |
23 |
20 |
21 |
32 |
Total Revenue |
|
62 |
-31 |
79 |
85 |
92 |
104 |
111 |
114 |
120 |
140 |
Net Interest Income / (Expense) |
|
29 |
12 |
28 |
29 |
32 |
35 |
35 |
39 |
41 |
45 |
Total Interest Income |
|
63 |
-39 |
71 |
75 |
79 |
86 |
91 |
98 |
105 |
113 |
Loans and Leases Interest Income |
|
63 |
- |
71 |
75 |
79 |
86 |
91 |
98 |
105 |
113 |
Total Interest Expense |
|
4.01 |
4.14 |
4.14 |
4.14 |
4.14 |
4.14 |
5.38 |
6.16 |
6.14 |
6.14 |
Long-Term Debt Interest Expense |
|
4.01 |
4.14 |
4.14 |
4.14 |
4.14 |
4.14 |
5.38 |
6.16 |
6.14 |
6.14 |
Total Non-Interest Income |
|
3.03 |
12 |
13 |
14 |
17 |
22 |
26 |
23 |
21 |
32 |
Other Service Charges |
|
2.18 |
1.78 |
2.89 |
3.64 |
3.66 |
4.10 |
5.39 |
5.18 |
7.22 |
8.36 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.85 |
10 |
9.00 |
9.21 |
12 |
16 |
19 |
16 |
12 |
23 |
Other Non-Interest Income |
|
0.00 |
- |
0.95 |
1.19 |
1.34 |
1.72 |
1.63 |
1.73 |
1.68 |
1.45 |
Provision for Credit Losses |
|
0.58 |
-0.44 |
0.64 |
0.30 |
0.15 |
0.83 |
1.00 |
0.22 |
-0.07 |
0.02 |
Total Non-Interest Expense |
|
13 |
21 |
22 |
22 |
27 |
29 |
31 |
35 |
35 |
39 |
Salaries and Employee Benefits |
|
6.79 |
12 |
10 |
11 |
13 |
15 |
15 |
17 |
18 |
20 |
Net Occupancy & Equipment Expense |
|
0.45 |
0.44 |
0.45 |
0.46 |
0.47 |
0.55 |
0.50 |
0.62 |
0.52 |
0.30 |
Insurance Policy Acquisition Costs |
|
3.31 |
3.24 |
3.83 |
4.27 |
4.90 |
4.64 |
4.82 |
5.16 |
5.66 |
6.75 |
Other Operating Expenses |
|
37 |
-57 |
50 |
52 |
57 |
60 |
66 |
72 |
75 |
80 |
Income Tax Expense |
|
3.76 |
3.47 |
4.02 |
4.60 |
5.07 |
5.14 |
5.90 |
5.16 |
5.63 |
11 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
0.46 |
0.00 |
0.25 |
0.22 |
0.27 |
0.04 |
0.30 |
0.12 |
0.01 |
0.46 |
Basic Earnings per Share |
|
$0.31 |
$0.25 |
$0.33 |
$0.37 |
$0.37 |
$0.53 |
$0.52 |
$0.45 |
$0.48 |
$0.62 |
Weighted Average Basic Shares Outstanding |
|
31.92M |
31.91M |
32.10M |
32.12M |
32.28M |
32.21M |
32.54M |
32.59M |
32.71M |
32.65M |
Diluted Earnings per Share |
|
$0.29 |
$0.25 |
$0.31 |
$0.36 |
$0.35 |
$0.50 |
$0.49 |
$0.42 |
$0.44 |
$0.56 |
Weighted Average Diluted Shares Outstanding |
|
34.20M |
34.13M |
34.05M |
34.14M |
34.73M |
34.48M |
35.44M |
35.60M |
35.90M |
35.76M |
Weighted Average Basic & Diluted Shares Outstanding |
|
32.42M |
32.62M |
32.60M |
32.76M |
32.78M |
32.97M |
32.99M |
33.11M |
33.11M |
34.02M |
Annual Cash Flow Statements for Velocity Financial
This table details how cash moves in and out of Velocity Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
14 |
-0.13 |
8.90 |
Net Cash From Operating Activities |
49 |
49 |
38 |
Net Cash From Continuing Operating Activities |
49 |
49 |
38 |
Net Income / (Loss) Continuing Operations |
33 |
52 |
68 |
Consolidated Net Income / (Loss) |
33 |
52 |
68 |
Provision For Loan Losses |
0.98 |
2.64 |
1.73 |
Depreciation Expense |
0.80 |
0.75 |
0.79 |
Amortization Expense |
37 |
25 |
18 |
Non-Cash Adjustments to Reconcile Net Income |
-4.22 |
-51 |
-71 |
Changes in Operating Assets and Liabilities, net |
-18 |
19 |
20 |
Net Cash From Investing Activities |
-908 |
-585 |
-1,045 |
Net Cash From Continuing Investing Activities |
-908 |
-585 |
-1,045 |
Purchase of Property, Leasehold Improvements and Equipment |
-0.33 |
-0.18 |
-0.29 |
Purchase of Investment Securities |
-1,760 |
-634 |
-1,116 |
Sale of Property, Leasehold Improvements and Equipment |
0.00 |
0.00 |
0.64 |
Sale and/or Maturity of Investments |
857 |
43 |
83 |
Other Investing Activities, net |
-4.50 |
6.17 |
-13 |
Net Cash From Financing Activities |
874 |
536 |
1,016 |
Net Cash From Continuing Financing Activities |
874 |
536 |
1,016 |
Issuance of Debt |
3,272 |
975 |
1,590 |
Issuance of Common Equity |
0.61 |
2.31 |
10 |
Repayment of Debt |
-2,398 |
-440 |
-656 |
Other Financing Activities, Net |
-0.46 |
-1.14 |
72 |
Cash Interest Paid |
119 |
180 |
251 |
Cash Income Taxes Paid |
23 |
7.65 |
42 |
Quarterly Cash Flow Statements for Velocity Financial
This table details how cash moves in and out of Velocity Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-15 |
21 |
-6.02 |
-5.26 |
-3.68 |
15 |
-2.88 |
21 |
-12 |
3.57 |
Net Cash From Operating Activities |
|
-4.44 |
40 |
-12 |
44 |
-9.75 |
26 |
11 |
11 |
-18 |
33 |
Net Cash From Continuing Operating Activities |
|
-4.44 |
40 |
-12 |
44 |
-9.75 |
26 |
11 |
11 |
-18 |
33 |
Net Income / (Loss) Continuing Operations |
|
10 |
8.23 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Consolidated Net Income / (Loss) |
|
10 |
8.23 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Provision For Loan Losses |
|
0.13 |
-0.38 |
0.66 |
0.70 |
0.17 |
1.11 |
1.00 |
0.82 |
-0.02 |
-0.07 |
Depreciation Expense |
|
0.20 |
0.19 |
0.20 |
0.19 |
0.19 |
0.19 |
0.18 |
0.19 |
0.28 |
0.14 |
Amortization Expense |
|
7.60 |
7.42 |
6.76 |
6.94 |
6.22 |
5.06 |
4.71 |
4.66 |
4.47 |
4.03 |
Non-Cash Adjustments to Reconcile Net Income |
|
-7.43 |
9.65 |
-22 |
10 |
-28 |
-11 |
-15 |
-9.73 |
-46 |
0.79 |
Changes in Operating Assets and Liabilities, net |
|
-15 |
15 |
-8.47 |
14 |
-0.94 |
14 |
2.83 |
0.83 |
8.38 |
7.58 |
Net Cash From Investing Activities |
|
-311 |
-89 |
-72 |
-141 |
-148 |
-224 |
-212 |
-197 |
-280 |
-356 |
Net Cash From Continuing Investing Activities |
|
-311 |
-89 |
-72 |
-141 |
-148 |
-224 |
-212 |
-197 |
-280 |
-356 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.06 |
-0.05 |
-0.05 |
- |
-0.02 |
-0.11 |
-0.04 |
-0.08 |
-0.07 |
-0.10 |
Purchase of Investment Securities |
|
-454 |
-265 |
-198 |
-267 |
-274 |
105 |
-390 |
-429 |
-460 |
164 |
Sale and/or Maturity of Investments |
|
142 |
179 |
123 |
129 |
122 |
-331 |
179 |
232 |
184 |
-512 |
Other Investing Activities, net |
|
1.14 |
-3.08 |
2.97 |
-2.77 |
3.51 |
2.47 |
-2.14 |
0.32 |
-3.26 |
-7.49 |
Net Cash From Financing Activities |
|
301 |
70 |
77 |
91 |
154 |
213 |
199 |
206 |
285 |
326 |
Net Cash From Continuing Financing Activities |
|
301 |
70 |
77 |
91 |
154 |
213 |
199 |
206 |
285 |
326 |
Issuance of Debt |
|
696 |
530 |
444 |
480 |
603 |
-553 |
633 |
893 |
-1,526 |
1,590 |
Issuance of Common Equity |
|
- |
0.61 |
0.00 |
0.88 |
0.52 |
0.91 |
0.16 |
1.50 |
0.19 |
8.30 |
Repayment of Debt |
|
-395 |
-461 |
-366 |
-390 |
-449 |
764 |
-433 |
-689 |
732 |
-267 |
Other Financing Activities, Net |
|
- |
-0.46 |
-0.16 |
-0.12 |
- |
-0.86 |
0.00 |
-0.02 |
1,079 |
-1,007 |
Cash Interest Paid |
|
35 |
34 |
44 |
39 |
51 |
46 |
59 |
57 |
68 |
67 |
Cash Income Taxes Paid |
|
1.38 |
0.08 |
0.26 |
-1.11 |
3.79 |
4.71 |
0.02 |
16 |
6.92 |
19 |
Annual Balance Sheets for Velocity Financial
This table presents Velocity Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
3,749 |
4,405 |
5,527 |
Cash and Due from Banks |
45 |
41 |
50 |
Restricted Cash |
17 |
21 |
21 |
Loans and Leases, Net of Allowance |
3,548 |
4,134 |
5,187 |
Loans and Leases |
3,548 |
4,134 |
5,187 |
Loans Held for Sale |
0.00 |
18 |
0.00 |
Customer and Other Receivables |
66 |
85 |
123 |
Premises and Equipment, Net |
3.36 |
2.79 |
1.65 |
Goodwill |
6.78 |
6.78 |
6.78 |
Other Assets |
63 |
96 |
138 |
Total Liabilities & Shareholders' Equity |
3,749 |
4,405 |
5,527 |
Total Liabilities |
3,368 |
3,968 |
5,007 |
Long-Term Debt |
3,277 |
3,842 |
4,859 |
Other Long-Term Liabilities |
92 |
126 |
148 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
381 |
437 |
520 |
Total Preferred & Common Equity |
377 |
433 |
517 |
Total Common Equity |
377 |
433 |
517 |
Common Stock |
301 |
307 |
323 |
Retained Earnings |
77 |
129 |
197 |
Treasury Stock |
-0.46 |
-1.32 |
-2.87 |
Accumulated Other Comprehensive Income / (Loss) |
0.00 |
-1.21 |
-0.81 |
Noncontrolling Interest |
3.69 |
3.43 |
3.27 |
Quarterly Balance Sheets for Velocity Financial
This table presents Velocity Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
3,647 |
3,837 |
3,951 |
4,117 |
4,628 |
4,873 |
5,202 |
Cash and Due from Banks |
|
26 |
39 |
34 |
29 |
35 |
47 |
44 |
Restricted Cash |
|
15 |
17 |
17 |
18 |
24 |
32 |
23 |
Trading Account Securities |
|
- |
- |
- |
1.26 |
1.97 |
0.00 |
0.00 |
Loans and Leases, Net of Allowance |
|
3,446 |
3,620 |
3,763 |
3,898 |
4,377 |
4,591 |
4,881 |
Loans and Leases |
|
3,446 |
3,620 |
3,763 |
3,898 |
4,377 |
4,591 |
4,881 |
Loans Held for Sale |
|
17 |
18 |
- |
20 |
0.00 |
0.00 |
19 |
Premises and Equipment, Net |
|
3.50 |
3.21 |
3.02 |
2.86 |
2.01 |
1.91 |
1.69 |
Goodwill |
|
6.78 |
6.78 |
6.78 |
6.78 |
6.78 |
6.78 |
6.78 |
Other Assets |
|
66 |
69 |
63 |
72 |
94 |
111 |
226 |
Total Liabilities & Shareholders' Equity |
|
3,647 |
3,837 |
3,951 |
4,117 |
4,628 |
4,873 |
5,202 |
Total Liabilities |
|
3,277 |
3,446 |
3,546 |
3,697 |
4,172 |
4,399 |
4,715 |
Long-Term Debt |
|
550 |
508 |
3,451 |
3,599 |
4,048 |
4,260 |
4,573 |
Other Long-Term Liabilities |
|
2,727 |
2,937 |
95 |
98 |
124 |
138 |
142 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
371 |
391 |
405 |
420 |
456 |
475 |
488 |
Total Preferred & Common Equity |
|
367 |
388 |
402 |
416 |
453 |
471 |
485 |
Total Common Equity |
|
367 |
388 |
402 |
416 |
453 |
471 |
485 |
Common Stock |
|
299 |
302 |
304 |
305 |
309 |
312 |
313 |
Retained Earnings |
|
68 |
87 |
99 |
112 |
146 |
161 |
177 |
Treasury Stock |
|
-0.46 |
-1.29 |
-1.29 |
-1.29 |
-2.60 |
-2.87 |
-2.87 |
Accumulated Other Comprehensive Income / (Loss) |
|
- |
- |
- |
0.91 |
0.79 |
1.60 |
-2.66 |
Noncontrolling Interest |
|
3.92 |
3.62 |
3.54 |
3.62 |
3.51 |
3.42 |
3.05 |
Annual Metrics And Ratios for Velocity Financial
This table displays calculated financial ratios and metrics derived from Velocity Financial's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
25.30% |
235.10% |
34.51% |
EBITDA Growth |
18.89% |
245.65% |
27.86% |
EBIT Growth |
11.96% |
478.19% |
33.39% |
NOPAT Growth |
11.28% |
60.81% |
30.93% |
Net Income Growth |
10.22% |
62.35% |
30.93% |
EPS Growth |
9.30% |
61.70% |
25.66% |
Operating Cash Flow Growth |
-15.53% |
0.33% |
-22.69% |
Free Cash Flow Firm Growth |
-783.79% |
79.79% |
-81.34% |
Invested Capital Growth |
352.43% |
16.99% |
25.72% |
Revenue Q/Q Growth |
5.54% |
1.90% |
8.00% |
EBITDA Q/Q Growth |
-2.69% |
-1.65% |
7.65% |
EBIT Q/Q Growth |
-2.79% |
-0.92% |
8.46% |
NOPAT Q/Q Growth |
-0.39% |
20.62% |
5.61% |
Net Income Q/Q Growth |
-1.00% |
20.31% |
5.61% |
EPS Q/Q Growth |
0.00% |
19.69% |
3.24% |
Operating Cash Flow Q/Q Growth |
82.27% |
-22.11% |
23.22% |
Free Cash Flow Firm Q/Q Growth |
-2,009.03% |
81.37% |
-5.74% |
Invested Capital Q/Q Growth |
297.41% |
6.46% |
6.31% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
76.27% |
78.67% |
74.78% |
EBIT Margin |
41.46% |
71.53% |
70.93% |
Profit (Net Income) Margin |
29.97% |
14.52% |
14.13% |
Tax Burden Percent |
72.30% |
73.52% |
71.03% |
Interest Burden Percent |
100.00% |
27.61% |
28.05% |
Effective Tax Rate |
27.01% |
26.48% |
28.97% |
Return on Invested Capital (ROIC) |
1.46% |
1.32% |
1.42% |
ROIC Less NNEP Spread (ROIC-NNEP) |
1.44% |
1.32% |
1.42% |
Return on Net Nonoperating Assets (RNNOA) |
7.43% |
11.48% |
12.89% |
Return on Equity (ROE) |
8.89% |
12.80% |
14.31% |
Cash Return on Invested Capital (CROIC) |
-126.14% |
-14.34% |
-21.37% |
Operating Return on Assets (OROA) |
1.36% |
6.32% |
6.92% |
Return on Assets (ROA) |
0.98% |
1.28% |
1.38% |
Return on Common Equity (ROCE) |
8.80% |
12.68% |
14.21% |
Return on Equity Simple (ROE_SIMPLE) |
8.55% |
12.06% |
13.24% |
Net Operating Profit after Tax (NOPAT) |
33 |
52 |
68 |
NOPAT Margin |
30.26% |
14.52% |
14.13% |
Net Nonoperating Expense Percent (NNEP) |
0.02% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
29.97% |
13.96% |
14.76% |
Operating Expenses to Revenue |
57.47% |
27.94% |
28.83% |
Earnings before Interest and Taxes (EBIT) |
45 |
258 |
344 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
82 |
283 |
362 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
0.83 |
1.30 |
1.25 |
Price to Tangible Book Value (P/TBV) |
0.85 |
1.32 |
1.27 |
Price to Revenue (P/Rev) |
2.91 |
1.57 |
1.34 |
Price to Earnings (P/E) |
9.96 |
10.80 |
9.47 |
Dividend Yield |
0.00% |
0.00% |
0.00% |
Earnings Yield |
10.04% |
9.26% |
10.56% |
Enterprise Value to Invested Capital (EV/IC) |
0.97 |
1.02 |
1.01 |
Enterprise Value to Revenue (EV/Rev) |
32.86 |
12.07 |
11.23 |
Enterprise Value to EBITDA (EV/EBITDA) |
43.08 |
15.35 |
15.02 |
Enterprise Value to EBIT (EV/EBIT) |
79.26 |
16.88 |
15.83 |
Enterprise Value to NOPAT (EV/NOPAT) |
108.59 |
83.15 |
79.45 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
72.55 |
89.04 |
144.07 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
8.61 |
8.79 |
9.34 |
Long-Term Debt to Equity |
8.61 |
8.79 |
9.34 |
Financial Leverage |
5.16 |
8.71 |
9.09 |
Leverage Ratio |
9.05 |
9.98 |
10.38 |
Compound Leverage Factor |
9.05 |
2.75 |
2.91 |
Debt to Total Capital |
89.60% |
89.79% |
90.33% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
89.60% |
89.79% |
90.33% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.10% |
0.08% |
0.06% |
Common Equity to Total Capital |
10.30% |
10.13% |
9.61% |
Debt to EBITDA |
39.98 |
13.56 |
13.41 |
Net Debt to EBITDA |
39.22 |
13.34 |
13.22 |
Long-Term Debt to EBITDA |
39.98 |
13.56 |
13.41 |
Debt to NOPAT |
100.77 |
73.47 |
70.98 |
Net Debt to NOPAT |
98.86 |
72.29 |
69.94 |
Long-Term Debt to NOPAT |
100.77 |
73.47 |
70.98 |
Noncontrolling Interest Sharing Ratio |
0.98% |
0.87% |
0.70% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-2,817 |
-569 |
-1,032 |
Operating Cash Flow to CapEx |
14,930.67% |
27,130.56% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
-95.57 |
-34.38 |
-43.33 |
Operating Cash Flow to Interest Expense |
1.65 |
2.95 |
1.58 |
Operating Cash Flow Less CapEx to Interest Expense |
1.64 |
2.94 |
1.60 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.03 |
0.09 |
0.10 |
Fixed Asset Turnover |
29.91 |
117.29 |
218.45 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
3,657 |
4,279 |
5,380 |
Invested Capital Turnover |
0.05 |
0.09 |
0.10 |
Increase / (Decrease) in Invested Capital |
2,849 |
621 |
1,101 |
Enterprise Value (EV) |
3,531 |
4,348 |
5,440 |
Market Capitalization |
313 |
565 |
648 |
Book Value per Share |
$11.62 |
$13.22 |
$15.61 |
Tangible Book Value per Share |
$11.42 |
$13.02 |
$15.41 |
Total Capital |
3,657 |
4,279 |
5,380 |
Total Debt |
3,277 |
3,842 |
4,859 |
Total Long-Term Debt |
3,277 |
3,842 |
4,859 |
Net Debt |
3,215 |
3,780 |
4,789 |
Capital Expenditures (CapEx) |
0.33 |
0.18 |
-0.35 |
Net Nonoperating Expense (NNE) |
0.31 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
3,277 |
3,842 |
4,859 |
Total Depreciation and Amortization (D&A) |
37 |
26 |
19 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$0.00 |
$1.60 |
$2.07 |
Adjusted Weighted Average Basic Shares Outstanding |
0.00 |
32.21M |
32.65M |
Adjusted Diluted Earnings per Share |
$0.00 |
$1.52 |
$1.91 |
Adjusted Weighted Average Diluted Shares Outstanding |
0.00 |
34.48M |
35.76M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
0.00 |
32.97M |
34.02M |
Normalized Net Operating Profit after Tax (NOPAT) |
33 |
52 |
68 |
Normalized NOPAT Margin |
30.26% |
14.52% |
14.13% |
Pre Tax Income Margin |
41.46% |
19.75% |
19.90% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
1.51 |
15.56 |
14.42 |
NOPAT to Interest Expense |
1.10 |
3.16 |
2.87 |
EBIT Less CapEx to Interest Expense |
1.50 |
15.55 |
14.44 |
NOPAT Less CapEx to Interest Expense |
1.09 |
3.15 |
2.89 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
0.00% |
0.00% |
0.00% |
Quarterly Metrics And Ratios for Velocity Financial
This table displays calculated financial ratios and metrics derived from Velocity Financial's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
45.96% |
15.56% |
366.00% |
44.57% |
47.85% |
438.98% |
40.01% |
34.64% |
29.63% |
34.56% |
EBITDA Growth |
|
50.90% |
-5.43% |
243.14% |
36.11% |
26.26% |
279.42% |
31.47% |
20.89% |
26.17% |
32.60% |
EBIT Growth |
|
55.56% |
-2.54% |
1,312.24% |
43.02% |
33.35% |
242.79% |
38.96% |
26.95% |
31.31% |
36.37% |
NOPAT Growth |
|
28.27% |
-1.51% |
232.28% |
13.47% |
18.26% |
108.65% |
61.45% |
20.36% |
28.33% |
21.20% |
Net Income Growth |
|
28.27% |
-3.88% |
243.99% |
13.47% |
18.26% |
113.80% |
61.45% |
20.36% |
28.33% |
21.20% |
EPS Growth |
|
26.09% |
0.00% |
244.44% |
16.13% |
20.69% |
100.00% |
58.06% |
16.67% |
25.71% |
12.00% |
Operating Cash Flow Growth |
|
-123.79% |
121.73% |
-200.78% |
3,409.26% |
-119.46% |
-34.63% |
188.71% |
-74.14% |
-80.16% |
27.20% |
Free Cash Flow Firm Growth |
|
55.71% |
-736.63% |
127.90% |
-2,315.19% |
-1,880.07% |
78.73% |
-3,973.52% |
71.81% |
66.78% |
-78.69% |
Invested Capital Growth |
|
22.04% |
352.43% |
-8.34% |
396.16% |
336.74% |
16.99% |
400.63% |
22.80% |
25.90% |
25.72% |
Revenue Q/Q Growth |
|
6.45% |
-149.04% |
-18.41% |
7.03% |
8.86% |
12.45% |
6.86% |
2.92% |
4.81% |
16.72% |
EBITDA Q/Q Growth |
|
10.64% |
-178.01% |
-23.86% |
8.88% |
2.63% |
10.85% |
6.14% |
0.12% |
7.11% |
16.50% |
EBIT Q/Q Growth |
|
11.64% |
-206.19% |
-25.38% |
9.67% |
4.09% |
13.71% |
7.05% |
0.19% |
7.66% |
18.10% |
NOPAT Q/Q Growth |
|
-4.47% |
-20.05% |
30.50% |
13.84% |
-0.43% |
41.06% |
0.97% |
-15.13% |
6.16% |
33.22% |
Net Income Q/Q Growth |
|
-4.47% |
-21.97% |
28.78% |
13.84% |
-0.43% |
41.06% |
0.97% |
-15.13% |
6.16% |
33.22% |
EPS Q/Q Growth |
|
-6.45% |
-13.79% |
24.00% |
16.13% |
-2.78% |
42.86% |
-2.00% |
-14.29% |
4.76% |
27.27% |
Operating Cash Flow Q/Q Growth |
|
-451.58% |
1,000.50% |
-129.81% |
471.87% |
-121.99% |
368.21% |
-59.55% |
8.42% |
-253.16% |
289.36% |
Free Cash Flow Firm Q/Q Growth |
|
-22.79% |
-1,722.19% |
103.26% |
-3,411.22% |
-0.67% |
80.42% |
-493.59% |
75.90% |
-18.62% |
-5.31% |
Invested Capital Q/Q Growth |
|
18.43% |
297.41% |
-75.40% |
328.56% |
4.24% |
6.46% |
5.27% |
5.12% |
6.87% |
6.31% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
90.35% |
0.00% |
80.46% |
81.85% |
77.16% |
76.07% |
75.55% |
73.49% |
75.10% |
74.96% |
EBIT Margin |
|
77.86% |
0.00% |
71.68% |
73.44% |
70.22% |
71.01% |
71.14% |
69.25% |
71.13% |
71.97% |
Profit (Net Income) Margin |
|
16.48% |
0.00% |
13.55% |
14.41% |
13.18% |
16.54% |
15.63% |
12.89% |
13.05% |
14.90% |
Tax Burden Percent |
|
73.24% |
68.67% |
72.75% |
72.65% |
70.59% |
76.95% |
74.60% |
74.03% |
73.51% |
64.94% |
Interest Burden Percent |
|
28.90% |
-22.65% |
25.99% |
27.02% |
26.59% |
30.26% |
29.45% |
25.14% |
24.96% |
31.87% |
Effective Tax Rate |
|
26.76% |
29.64% |
27.25% |
27.35% |
29.41% |
23.05% |
25.40% |
25.97% |
26.49% |
35.06% |
Return on Invested Capital (ROIC) |
|
2.00% |
0.00% |
4.28% |
2.01% |
1.89% |
1.50% |
2.27% |
1.26% |
1.29% |
1.49% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
2.00% |
0.00% |
4.28% |
2.01% |
1.89% |
1.50% |
2.27% |
1.26% |
1.29% |
1.49% |
Return on Net Nonoperating Assets (RNNOA) |
|
2.77% |
0.00% |
6.62% |
10.18% |
9.90% |
13.07% |
12.18% |
11.07% |
11.61% |
13.58% |
Return on Equity (ROE) |
|
4.78% |
0.00% |
10.91% |
12.20% |
11.78% |
14.57% |
14.45% |
12.34% |
12.90% |
15.08% |
Cash Return on Invested Capital (CROIC) |
|
-15.95% |
-126.14% |
12.96% |
-131.11% |
-123.72% |
-14.34% |
-131.22% |
-19.04% |
-21.50% |
-21.37% |
Operating Return on Assets (OROA) |
|
2.60% |
0.00% |
6.14% |
6.52% |
6.39% |
6.27% |
6.59% |
6.61% |
6.85% |
7.02% |
Return on Assets (ROA) |
|
0.55% |
0.00% |
1.16% |
1.28% |
1.20% |
1.46% |
1.45% |
1.23% |
1.26% |
1.45% |
Return on Common Equity (ROCE) |
|
4.14% |
0.00% |
10.80% |
12.08% |
11.67% |
14.45% |
14.32% |
12.24% |
12.80% |
14.97% |
Return on Equity Simple (ROE_SIMPLE) |
|
8.87% |
0.00% |
10.35% |
10.35% |
10.44% |
0.00% |
13.00% |
13.02% |
13.38% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
10 |
8.23 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
NOPAT Margin |
|
16.48% |
0.00% |
13.55% |
14.41% |
13.18% |
16.54% |
15.63% |
12.89% |
13.05% |
14.90% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
11.58% |
0.00% |
13.20% |
13.12% |
14.08% |
15.12% |
14.29% |
15.05% |
15.13% |
14.59% |
Operating Expenses to Revenue |
|
21.21% |
0.00% |
27.52% |
26.21% |
29.61% |
28.19% |
27.96% |
30.56% |
28.93% |
28.01% |
Earnings before Interest and Taxes (EBIT) |
|
49 |
-52 |
57 |
62 |
65 |
74 |
79 |
79 |
85 |
101 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
56 |
-44 |
64 |
69 |
71 |
79 |
84 |
84 |
90 |
105 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.96 |
0.83 |
0.76 |
0.94 |
0.89 |
1.30 |
1.31 |
1.25 |
1.34 |
1.25 |
Price to Tangible Book Value (P/TBV) |
|
0.98 |
0.85 |
0.77 |
0.95 |
0.90 |
1.32 |
1.33 |
1.27 |
1.36 |
1.27 |
Price to Revenue (P/Rev) |
|
3.45 |
2.91 |
0.99 |
1.16 |
1.05 |
1.57 |
1.51 |
1.40 |
1.45 |
1.34 |
Price to Earnings (P/E) |
|
14.82 |
9.96 |
7.45 |
9.15 |
8.57 |
10.80 |
10.08 |
9.62 |
9.96 |
9.47 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
6.75% |
10.04% |
13.42% |
10.93% |
11.66% |
9.26% |
9.92% |
10.39% |
10.04% |
10.56% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.94 |
0.97 |
0.83 |
0.98 |
0.98 |
1.02 |
1.02 |
1.01 |
1.02 |
1.01 |
Enterprise Value to Revenue (EV/Rev) |
|
8.48 |
32.86 |
2.52 |
11.68 |
11.11 |
12.07 |
11.70 |
11.34 |
11.50 |
11.23 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
10.26 |
43.08 |
2.95 |
13.83 |
13.63 |
15.35 |
15.11 |
15.02 |
15.33 |
15.02 |
Enterprise Value to EBIT (EV/EBIT) |
|
18.85 |
79.26 |
3.34 |
15.50 |
15.10 |
16.88 |
16.39 |
16.11 |
16.28 |
15.83 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
26.47 |
108.59 |
18.76 |
91.12 |
90.56 |
83.15 |
77.87 |
77.80 |
79.56 |
79.45 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
32.35 |
72.55 |
30.13 |
55.57 |
62.62 |
89.04 |
64.27 |
124.17 |
168.33 |
144.07 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
6.16 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.48 |
8.61 |
1.30 |
8.51 |
8.57 |
8.79 |
8.87 |
8.97 |
9.38 |
9.34 |
Long-Term Debt to Equity |
|
1.48 |
8.61 |
1.30 |
8.51 |
8.57 |
8.79 |
8.87 |
8.97 |
9.38 |
9.34 |
Financial Leverage |
|
1.38 |
5.16 |
1.55 |
5.06 |
5.25 |
8.71 |
5.37 |
8.76 |
9.00 |
9.09 |
Leverage Ratio |
|
8.68 |
9.05 |
9.40 |
9.52 |
9.82 |
9.98 |
9.99 |
10.03 |
10.27 |
10.38 |
Compound Leverage Factor |
|
2.51 |
-2.05 |
2.44 |
2.57 |
2.61 |
3.02 |
2.94 |
2.52 |
2.56 |
3.31 |
Debt to Total Capital |
|
59.72% |
89.60% |
56.51% |
89.49% |
89.55% |
89.79% |
89.87% |
89.97% |
90.36% |
90.33% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
59.72% |
89.60% |
56.51% |
89.49% |
89.55% |
89.79% |
89.87% |
89.97% |
90.36% |
90.33% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.43% |
0.10% |
0.40% |
0.09% |
0.09% |
0.08% |
0.08% |
0.07% |
0.06% |
0.06% |
Common Equity to Total Capital |
|
39.86% |
10.30% |
43.08% |
10.42% |
10.36% |
10.13% |
10.06% |
9.95% |
9.58% |
9.61% |
Debt to EBITDA |
|
6.52 |
39.98 |
2.00 |
12.63 |
12.49 |
13.56 |
13.34 |
13.40 |
13.59 |
13.41 |
Net Debt to EBITDA |
|
6.04 |
39.22 |
1.78 |
12.44 |
12.33 |
13.34 |
13.15 |
13.15 |
13.39 |
13.22 |
Long-Term Debt to EBITDA |
|
6.52 |
39.98 |
2.00 |
12.63 |
12.49 |
13.56 |
13.34 |
13.40 |
13.59 |
13.41 |
Debt to NOPAT |
|
16.84 |
100.77 |
12.70 |
83.20 |
83.02 |
73.47 |
68.73 |
69.41 |
70.54 |
70.98 |
Net Debt to NOPAT |
|
15.58 |
98.86 |
11.30 |
81.97 |
81.94 |
72.29 |
67.73 |
68.11 |
69.50 |
69.94 |
Long-Term Debt to NOPAT |
|
16.84 |
100.77 |
12.70 |
83.20 |
83.02 |
73.47 |
68.73 |
69.41 |
70.54 |
70.98 |
Noncontrolling Interest Sharing Ratio |
|
13.36% |
0.00% |
0.96% |
0.94% |
0.95% |
0.87% |
0.84% |
0.79% |
0.73% |
0.70% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-156 |
-2,841 |
93 |
-3,066 |
-3,087 |
-604 |
-3,587 |
-864 |
-1,025 |
-1,080 |
Operating Cash Flow to CapEx |
|
-7,935.71% |
75,505.66% |
-24,850.00% |
0.00% |
-40,637.50% |
24,221.30% |
0.00% |
13,657.14% |
-27,032.31% |
33,609.09% |
Free Cash Flow to Firm to Interest Expense |
|
-38.87 |
-686.35 |
22.37 |
-740.87 |
-746.00 |
-145.97 |
-666.76 |
-140.45 |
-166.92 |
-175.79 |
Operating Cash Flow to Interest Expense |
|
-1.11 |
9.67 |
-2.88 |
10.72 |
-2.36 |
6.32 |
1.97 |
1.86 |
-2.86 |
5.42 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-1.12 |
9.66 |
-2.89 |
10.72 |
-2.36 |
6.29 |
2.08 |
1.85 |
-2.87 |
5.40 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.03 |
0.09 |
0.09 |
0.09 |
0.09 |
0.09 |
0.10 |
0.10 |
0.10 |
Fixed Asset Turnover |
|
29.76 |
29.91 |
86.22 |
97.24 |
111.21 |
117.29 |
150.07 |
170.70 |
196.99 |
218.45 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
920 |
3,657 |
900 |
3,856 |
4,019 |
4,279 |
4,504 |
4,735 |
5,060 |
5,380 |
Invested Capital Turnover |
|
0.12 |
0.05 |
0.32 |
0.14 |
0.14 |
0.09 |
0.15 |
0.10 |
0.10 |
0.10 |
Increase / (Decrease) in Invested Capital |
|
166 |
2,849 |
-82 |
3,079 |
3,099 |
621 |
3,605 |
879 |
1,041 |
1,101 |
Enterprise Value (EV) |
|
864 |
3,531 |
751 |
3,779 |
3,926 |
4,348 |
4,586 |
4,775 |
5,158 |
5,440 |
Market Capitalization |
|
351 |
313 |
295 |
376 |
370 |
565 |
593 |
591 |
649 |
648 |
Book Value per Share |
|
$11.32 |
$11.62 |
$11.88 |
$12.32 |
$12.71 |
$13.22 |
$13.74 |
$14.29 |
$14.64 |
$15.61 |
Tangible Book Value per Share |
|
$11.11 |
$11.42 |
$11.67 |
$12.11 |
$12.50 |
$13.02 |
$13.53 |
$14.08 |
$14.43 |
$15.41 |
Total Capital |
|
920 |
3,657 |
900 |
3,856 |
4,019 |
4,279 |
4,504 |
4,735 |
5,060 |
5,380 |
Total Debt |
|
550 |
3,277 |
508 |
3,451 |
3,599 |
3,842 |
4,048 |
4,260 |
4,573 |
4,859 |
Total Long-Term Debt |
|
550 |
3,277 |
508 |
3,451 |
3,599 |
3,842 |
4,048 |
4,260 |
4,573 |
4,859 |
Net Debt |
|
509 |
3,215 |
452 |
3,400 |
3,552 |
3,780 |
3,989 |
4,181 |
4,506 |
4,789 |
Capital Expenditures (CapEx) |
|
0.06 |
0.05 |
0.05 |
0.00 |
0.02 |
0.11 |
-0.60 |
0.08 |
0.07 |
0.10 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.20 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
550 |
3,277 |
508 |
3,451 |
3,599 |
3,842 |
4,048 |
4,260 |
4,573 |
4,859 |
Total Depreciation and Amortization (D&A) |
|
7.80 |
7.61 |
6.96 |
7.13 |
6.41 |
5.25 |
4.89 |
4.84 |
4.75 |
4.17 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.31 |
$0.25 |
$0.33 |
$0.37 |
$0.37 |
$0.53 |
$0.52 |
$0.45 |
$0.48 |
$0.62 |
Adjusted Weighted Average Basic Shares Outstanding |
|
31.92M |
31.91M |
32.10M |
32.12M |
32.28M |
32.21M |
32.54M |
32.59M |
32.71M |
32.65M |
Adjusted Diluted Earnings per Share |
|
$0.29 |
$0.25 |
$0.31 |
$0.36 |
$0.35 |
$0.50 |
$0.49 |
$0.42 |
$0.44 |
$0.56 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
34.20M |
34.13M |
34.05M |
34.14M |
34.73M |
34.48M |
35.44M |
35.60M |
35.90M |
35.76M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
32.42M |
32.62M |
32.60M |
32.76M |
32.78M |
32.97M |
32.99M |
33.11M |
33.11M |
34.02M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
10 |
8.23 |
11 |
12 |
12 |
17 |
17 |
15 |
16 |
21 |
Normalized NOPAT Margin |
|
16.48% |
0.00% |
13.55% |
14.41% |
13.18% |
16.54% |
15.63% |
12.89% |
13.05% |
14.90% |
Pre Tax Income Margin |
|
22.50% |
0.00% |
18.63% |
19.84% |
18.68% |
21.49% |
20.95% |
17.41% |
17.75% |
22.94% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
12.12 |
-12.47 |
13.72 |
15.05 |
15.67 |
17.80 |
14.67 |
12.85 |
13.86 |
16.36 |
NOPAT to Interest Expense |
|
2.57 |
1.99 |
2.59 |
2.95 |
2.94 |
4.15 |
3.22 |
2.39 |
2.54 |
3.39 |
EBIT Less CapEx to Interest Expense |
|
12.11 |
-12.48 |
13.71 |
15.05 |
15.66 |
17.78 |
14.78 |
12.83 |
13.85 |
16.35 |
NOPAT Less CapEx to Interest Expense |
|
2.55 |
1.97 |
2.58 |
2.95 |
2.94 |
4.12 |
3.33 |
2.38 |
2.53 |
3.37 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
1.41% |
0.00% |
2.08% |
2.01% |
1.93% |
0.00% |
2.22% |
2.56% |
2.43% |
0.00% |
Key Financial Trends
Velocity Financial, Inc. (NYSE: VEL) has demonstrated solid financial performance over the past four years through its quarterly results up to Q4 2024. Here are the key trends and highlights based on the latest and historical financial statements:
- Revenue Growth: Total revenue increased steadily from approximately $79.2 million in Q1 2023 to $139.7 million in Q4 2024, driven by growth in both interest income and non-interest income.
- Net Interest Income Expansion: Net interest income rose from about $28.5 million in Q1 2023 to $45.0 million in Q4 2024, reflecting higher loans and leases interest income and controlled interest expenses.
- Increasing Net Income: Net income attributable to common shareholders improved from around $10.6 million in Q1 2023 to $20.6 million in Q4 2024, showing steady profitability improvement.
- Consistent Earnings Per Share Growth: Diluted earnings per share (EPS) increased from $0.29 in Q1 2023 to $0.56 in Q4 2024, benefiting shareholders with improved profitability on a per-share basis.
- Strong Operating Cash Flow: The company generated significant net cash from operating activities in recent quarters, such as $33.3 million in Q4 2024, supporting operational sustainability.
- Loan Portfolio Growth: Loans and leases increased from $3.62 billion in Q1 2023 to approximately $4.88 billion by Q3 2024, indicating robust core lending activity and asset growth.
- Improved Capital Base: Total common equity rose from $387.6 million in Q1 2023 to $484.6 million in Q3 2024, enhancing the company’s capital strength and financial stability.
- Stable Interest Expenses: Interest expenses on long-term debt hovered around $4.1 million to $6.1 million quarterly, reflecting fairly stable borrowing costs despite increased debt issuance.
- Investments Activities Volatility: Significant fluctuations in purchase and sale of investment securities have resulted in large cash outflows from investing activities, reflecting active portfolio management but increased cash variability.
- Rising Non-Interest Expenses: Total non-interest expenses increased from approximately $21.8 million in Q1 2023 to $39.1 million in Q4 2024, including higher salaries and other operating costs which may pressure margins if revenue growth slows.
Summary: Velocity Financial is showing encouraging financial growth with improving revenues, profitability, EPS, and capital base. The company’s core lending operations have expanded steadily, and operational cash flow remains strong. However, vigilance towards rising non-interest expenses and cash flow volatility from investing activities is warranted. Overall, the trends depict a healthy financial trajectory for retail investors to consider.
08/29/25 07:26 AM ETAI Generated. May Contain Errors.