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Velocity Financial (VEL) Financials

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$17.27 -0.23 (-1.31%)
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Annual Income Statements for Velocity Financial

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.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.00 17 -31 21 31 52 68 105
Consolidated Net Income / (Loss)		 7.63 17 18 29 32 52 68 105
Net Income / (Loss) Continuing Operations		 7.63 17 18 29 33 52 68 105
Total Pre-Tax Income 		19 25 23 40 45 71 96 146
Total Revenue		 52 62 74 86 107 360 484 690
Net Interest Income / (Expense)		 49 59 67 76 83 108 136 186
Total Interest Income		 125 74 79 97 113 311 407 551
Loans and Leases Interest Income		 125 - - - - 311 407 551
Total Interest Expense		 76 15 12 21 29 17 24 25
Long-Term Debt Interest Expense		 76 15 12 21 29 17 24 25
Total Non-Interest Income		 2.81 2.65 6.32 9.80 24 66 101 164
Other Service Charges		 1.37 -1.75 -1.70 1.88 6.86 14 26 36
Net Realized & Unrealized Capital Gains on Investments		 1.44 4.40 8.02 7.92 17 46 69 122
Other Non-Interest Income		 - - - - - 5.19 6.49 5.86
Provision for Credit Losses		 0.20 1.14 5.07 -0.29 1.15 1.92 1.17 5.81
Total Non-Interest Expense		 32 35 46 46 62 101 140 197
Salaries and Employee Benefits		 15 16 21 19 30 48 70 90
Net Occupancy & Equipment Expense		 1.32 1.53 1.74 1.77 1.75 1.93 1.93 1.12
Insurance Policy Acquisition Costs		 6.01 7.40 7.80 8.28 12 18 22 33
Other Operating Expenses		 9.73 11 15 17 17 219 293 413
Income Tax Expense		 12 8.11 5.35 11 12 19 28 41
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 8.59 0.80 0.77 0.88 1.28
Basic Earnings per Share		 $0.00 $0.00 ($1.55) $0.90 $0.99 $1.60 $2.07 $2.81
Weighted Average Basic Shares Outstanding		 0.00 0.00 20.09M 22.81M 31.91M 32.21M 32.65M 36.85M
Diluted Earnings per Share		 $0.00 $0.00 ($1.55) $0.86 $0.94 $1.52 $1.91 $2.75
Weighted Average Diluted Shares Outstanding		 0.00 0.00 20.09M 33.98M 34.13M 34.48M 35.76M 38.18M
Weighted Average Basic & Diluted Shares Outstanding		 - - 20.57M 32.49M 32.62M 32.97M 34.02M 39.24M

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 12 17 17 15 16 21 19 26 25 35 22
Consolidated Net Income / (Loss)		 12 17 17 15 16 21 19 26 25 35 22
Net Income / (Loss) Continuing Operations		 12 17 17 15 16 21 19 26 25 35 22
Total Pre-Tax Income 		17 22 23 20 21 32 27 34 35 50 31
Total Revenue		 92 104 111 55 56 140 146 87 86 370 181
Net Interest Income / (Expense)		 32 35 29 32 35 45 38 48 49 52 44
Total Interest Income		 79 86 91 98 105 113 119 136 144 152 153
Loans and Leases Interest Income		 79 86 91 98 105 113 119 136 144 152 153
Total Interest Expense		 4.14 4.14 5.38 6.16 6.14 6.14 6.14 6.14 6.14 6.14 15
Long-Term Debt Interest Expense		 4.14 4.14 5.38 6.16 6.14 6.14 6.14 6.14 6.14 6.14 15
Total Non-Interest Income		 17 22 26 -37 -43 32 33 -42 -52 224 43
Other Service Charges		 3.66 4.10 5.39 5.56 7.22 8.36 9.20 9.43 10 7.20 12
Net Realized & Unrealized Capital Gains on Investments		 12 16 19 15 12 23 23 29 25 45 30
Other Non-Interest Income		 1.34 1.72 1.63 -57 -62 1.45 1.34 -80 -87 172 1.41
Provision for Credit Losses		 0.15 0.83 1.00 0.22 -0.07 0.02 1.87 1.60 0.38 1.95 1.66
Total Non-Interest Expense		 27 29 31 35 35 39 42 52 50 53 54
Salaries and Employee Benefits		 13 15 15 17 18 20 22 23 23 23 24
Net Occupancy & Equipment Expense		 0.47 0.55 0.50 0.62 0.52 0.30 0.28 0.30 0.27 0.28 0.34
Insurance Policy Acquisition Costs		 4.90 4.64 4.82 5.16 5.66 6.75 8.01 8.21 7.75 9.45 8.56
Other Operating Expenses		 57 60 66 13 11 80 87 21 19 286 116
Income Tax Expense		 5.07 5.14 5.90 5.16 5.63 11 8.25 7.75 9.96 15 8.58
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.27 0.04 0.30 0.12 0.01 0.46 -0.01 0.46 0.39 0.43 0.25
Basic Earnings per Share		 $0.37 $0.53 $0.52 $0.45 $0.48 $0.62 $0.55 $0.69 $0.66 $0.91 $0.57
Weighted Average Basic Shares Outstanding		 32.28M 32.21M 32.54M 32.59M 32.71M 32.65M 33.69M 37.19M 38.07M 36.85M 38.63M
Diluted Earnings per Share		 $0.35 $0.50 $0.49 $0.42 $0.44 $0.56 $0.51 $0.69 $0.65 $0.90 $0.57
Weighted Average Diluted Shares Outstanding		 34.73M 34.48M 35.44M 35.60M 35.90M 35.76M 36.81M 37.79M 38.80M 38.18M 39.17M
Weighted Average Basic & Diluted Shares Outstanding		 32.78M 32.97M 32.99M 33.11M 33.11M 34.02M 36.49M 38.44M 38.90M 39.24M 39.26M

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 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.95 11 -7.26 27 14 -0.13 8.90 178
Net Cash From Operating Activities		 -72 -105 55 58 49 49 38 18
Net Cash From Continuing Operating Activities		 -72 -105 55 58 49 49 38 18
Net Income / (Loss) Continuing Operations		 7.63 17 18 29 33 52 68 105
Consolidated Net Income / (Loss)		 7.63 17 18 29 33 52 68 105
Provision For Loan Losses		 0.26 1.26 5.94 -0.37 0.98 2.64 1.73 5.65
Depreciation Expense		 1.43 1.41 1.22 1.12 0.80 0.75 0.79 0.52
Amortization Expense		 11 16 22 28 37 25 18 15
Non-Cash Adjustments to Reconcile Net Income		 -73 -142 -1.61 -13 -4.22 -51 -71 -107
Changes in Operating Assets and Liabilities, net		 -19 0.63 9.59 13 -18 19 20 -1.31
Net Cash From Investing Activities		 -270 -306 88 -656 -908 -585 -1,045 -1,522
Net Cash From Continuing Investing Activities		 -270 -306 88 -656 -908 -585 -1,045 -1,520
Purchase of Property, Leasehold Improvements and Equipment		 -1.70 -2.00 -1.57 -0.33 -0.33 -0.18 -0.29 -0.28
Purchase of Investment Securities		 -614 -694 -347 -1,375 -1,760 -1,094 -1,839 -2,666
Sale of Property, Leasehold Improvements and Equipment		 - - - - 0.00 0.00 0.64 0.00
Sale and/or Maturity of Investments		 341 385 449 715 857 503 806 1,148
Other Investing Activities, net		 4.34 5.03 -13 3.77 -4.50 6.17 -13 -2.73
Net Cash From Financing Activities		 344 422 -150 626 874 536 1,016 1,682
Net Cash From Continuing Financing Activities		 344 422 -150 626 874 536 1,016 1,682
Issuance of Debt		 1,194 1,723 957 2,369 3,272 2,168 3,611 2,651
Issuance of Common Equity		 0.00 0.00 103 0.14 0.61 2.31 10 41
Repayment of Debt		 -850 -1,273 -1,249 -1,742 -2,398 -1,633 -2,603 -1,013
Repurchase of Common Equity		 - - 0.00 0.00 - -0.86 -1.55 -7.34
Other Financing Activities, Net		 0.00 0.00 -1.90 -0.56 -0.46 -0.28 -0.39 10
Cash Interest Paid		 66 86 85 85 119 180 251 345
Cash Income Taxes Paid		 13 15 0.97 9.65 23 7.65 42 51

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -3.68 15 -2.88 21 -12 3.57 3.63 23 21 131 -137
Net Cash From Operating Activities		 -9.75 26 11 11 -18 33 3.54 7.66 11 -4.49 12
Net Cash From Continuing Operating Activities		 -9.75 26 11 11 -18 33 3.54 7.66 11 -4.49 12
Net Income / (Loss) Continuing Operations		 12 17 17 15 16 21 19 26 25 35 22
Consolidated Net Income / (Loss)		 12 17 17 15 16 21 19 26 25 35 22
Provision For Loan Losses		 0.17 1.11 1.00 0.82 -0.02 -0.07 2.50 1.56 0.51 1.09 1.58
Depreciation Expense		 0.19 0.19 0.18 0.19 0.28 0.14 0.14 0.13 0.12 0.12 0.13
Amortization Expense		 6.22 5.06 4.71 4.66 4.47 4.03 4.32 3.69 3.52 3.90 5.03
Non-Cash Adjustments to Reconcile Net Income		 -28 -11 -15 -9.73 -46 0.79 -23 -22 -23 -39 -20
Changes in Operating Assets and Liabilities, net		 -0.94 14 2.15 0.83 8.38 7.58 0.57 -2.13 5.28 -5.04 2.60
Net Cash From Investing Activities		 -148 -224 -212 -197 -280 -356 -401 -441 -429 -250 -351
Net Cash From Continuing Investing Activities		 -148 -224 -212 -197 -280 -356 -401 -441 -429 -249 -351
Purchase of Property, Leasehold Improvements and Equipment		 -0.02 -0.11 -0.04 -0.08 -0.07 -0.10 -0.10 -0.08 -0.15 0.04 -0.34
Purchase of Investment Securities		 -274 105 -390 -429 -460 164 -636 -684 16 -1,362 -637
Sale and/or Maturity of Investments		 122 -331 179 232 184 -512 236 240 -442 1,114 285
Other Investing Activities, net		 3.51 2.47 -2.14 0.32 -3.26 -7.49 -2.12 2.91 -2.50 -1.02 0.84
Net Cash From Financing Activities		 154 213 199 206 285 326 402 456 438 386 202
Net Cash From Continuing Financing Activities		 154 213 199 206 285 326 402 456 438 386 202
Issuance of Debt		 603 -553 633 893 -1,526 1,590 1,235 919 671 645 1,388
Issuance of Common Equity		 0.52 0.91 0.16 1.50 0.19 8.30 29 2.30 8.84 1.04 0.00
Repayment of Debt		 -449 764 -433 -689 732 -267 -860 -471 -242 -260 -1,181
Repurchase of Common Equity		 - - - -0.27 - - -2.16 - -0.18 -0.00 -4.54
Other Financing Activities, Net		 - -0.86 -1.28 -0.02 1,079 -1,007 -0.02 13 - -0.01 -0.03
Cash Interest Paid		 51 46 59 57 68 67 78 81 92 94 100
Cash Income Taxes Paid		 3.79 4.71 0.02 16 6.92 19 0.77 18 8.06 24 0.70

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 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,215 2,103 2,812 3,749 4,405 5,527 7,382
Cash and Due from Banks		 21 13 36 45 41 50 92
Restricted Cash		 6.09 7.02 12 17 21 21 157
Trading Account Securities		 - - - - - 0.00 0.07
Loans and Leases, Net of Allowance		 2,081 1,963 2,617 3,548 4,134 5,187 6,758
Loans and Leases		 2,081 1,963 2,617 3,548 4,134 5,187 6,758
Customer and Other Receivables		 50 71 74 66 85 123 151
Premises and Equipment, Net		 4.68 4.15 3.83 3.36 2.79 1.65 1.42
Goodwill		 - 0.00 6.78 6.78 6.78 6.78 6.78
Other Assets		 52 45 63 63 96 138 215
Total Liabilities & Shareholders' Equity		 2,215 2,103 2,812 3,749 4,405 5,527 7,382
Total Liabilities		 2,062 1,793 2,468 3,368 3,968 5,007 6,706
Long-Term Debt		 567 151 464 3,277 3,842 4,859 6,538
Other Long-Term Liabilities		 1,495 1,642 2,004 92 126 148 168
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 153 220 344 381 437 520 676
Total Preferred & Common Equity		 153 220 341 377 433 517 673
Total Common Equity		 153 220 341 377 433 517 673
Common Stock		 0.00 204 297 301 307 323 383
Retained Earnings		 0.00 15 44 77 129 197 302
Treasury Stock		 - - 0.00 -0.46 -1.32 -2.87 -10
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.00 -1.21 -0.81 -2.60
Noncontrolling Interest		 - 0.00 3.38 3.69 3.43 3.27 3.15

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 3,647 3,837 3,951 4,117 4,628 4,873 5,202 5,972 6,476 6,959 7,591
Cash and Due from Banks		 26 39 34 29 35 47 44 52 80 99 87
Restricted Cash		 15 17 17 18 24 32 23 23 18 19 25
Trading Account Securities		 - - - 1.26 1.97 0.00 0.00 0.00 0.00 0.02 0.46
Loans and Leases, Net of Allowance		 3,446 3,620 3,763 3,898 4,377 4,591 4,881 5,609 6,053 6,498 7,106
Loans and Leases		 3,446 3,620 3,763 3,898 4,377 4,591 4,881 5,609 6,053 6,498 7,106
Premises and Equipment, Net		 3.50 3.21 3.02 2.86 2.01 1.91 1.69 1.59 1.54 1.48 1.32
Goodwill		 6.78 6.78 6.78 6.78 6.78 6.78 6.78 6.78 6.78 6.78 6.78
Other Assets		 66 69 63 72 94 111 226 154 175 200 365
Total Liabilities & Shareholders' Equity		 3,647 3,837 3,951 4,117 4,628 4,873 5,202 5,972 6,476 6,959 7,591
Total Liabilities		 3,277 3,446 3,546 3,697 4,172 4,399 4,715 5,405 5,875 6,321 6,895
Long-Term Debt		 550 508 3,451 3,599 4,048 4,260 4,573 5,251 5,709 6,151 6,722
Other Long-Term Liabilities		 2,727 2,937 95 98 124 138 142 154 165 171 173
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 371 391 405 420 456 475 488 566 601 637 696
Total Preferred & Common Equity		 367 388 402 416 453 471 485 563 598 634 693
Total Common Equity		 367 388 402 416 453 471 485 563 598 634 693
Common Stock		 299 302 304 305 309 312 313 354 369 380 386
Retained Earnings		 68 87 99 112 146 161 177 216 242 268 325
Treasury Stock		 -0.46 -1.29 -1.29 -1.29 -2.60 -2.87 -2.87 -5.03 -10 -10 -15
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.91 0.79 1.60 -2.66 -1.80 -3.21 -2.92 -2.31
Noncontrolling Interest		 3.92 3.62 3.54 3.62 3.51 3.42 3.05 3.03 3.16 3.20 3.06

Annual Metrics And Ratios for Velocity Financial

This table displays calculated financial ratios and metrics derived from Velocity Financial's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 20,087,494.00 32,293,042.00 - - - 38,900,030.00
DEI Adjusted Shares Outstanding		 0.00 0.00 20,087,494.00 32,293,042.00 - - - 38,900,030.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.89 0.91 - - - 2.70
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 19.47% 19.64% 16.27% 25.30% 235.10% 34.51% 42.41%
EBITDA Growth		 0.00% 36.91% 7.19% 48.86% 18.89% 245.65% 27.86% 38.76%
EBIT Growth		 0.00% 31.94% -8.93% 72.05% 11.96% 478.19% 33.39% 41.65%
NOPAT Growth		 0.00% 126.60% 2.80% 64.39% 11.28% 60.81% 30.93% 53.34%
Net Income Growth		 0.00% 126.60% 2.80% 64.39% 10.22% 62.35% 30.93% 53.34%
EPS Growth		 0.00% 0.00% 0.00% 155.48% 9.30% 61.70% 25.66% 43.98%
Operating Cash Flow Growth		 0.00% -45.32% 152.11% 4.97% -15.53% 0.33% -22.69% -51.90%
Free Cash Flow Firm Growth		 0.00% 0.00% 139.46% -214.94% -783.79% 79.79% -81.34% -67.47%
Invested Capital Growth		 0.00% 0.00% -36.04% 75.55% 352.43% 16.99% 25.72% 34.08%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -40.82% 5.54% 1.90% 8.00% 18.46%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -47.36% -2.69% -1.65% 7.65% 22.31%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -60.94% -2.79% -0.92% 8.46% 23.26%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -4.02% -0.39% 20.62% 5.61% 15.32%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -4.02% -1.00% 20.31% 5.61% 15.32%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -25.22% 0.00% 19.69% 3.24% 14.11%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 495.29% 0.91% 82.27% -22.11% 23.22% -67.53%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -2,009.03% 81.37% -5.74% -5.62%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 7.20% 297.41% 6.46% 6.31% 6.26%
Profitability Metrics		 - - - - - - - -
EBITDA Margin		 61.15% 70.08% 62.79% 80.39% 76.27% 78.67% 74.78% 72.86%
EBIT Margin		 37.30% 41.19% 31.35% 46.39% 41.46% 71.53% 70.93% 70.55%
Profit (Net Income) Margin		 14.79% 28.04% 24.10% 34.07% 29.97% 14.52% 14.13% 15.22%
Tax Burden Percent		 39.64% 68.08% 76.86% 73.44% 72.30% 73.52% 71.03% 71.79%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 27.61% 28.05% 30.05%
Effective Tax Rate		 60.36% 31.92% 23.14% 26.56% 27.01% 26.48% 28.97% 28.21%
Return on Invested Capital (ROIC)		 0.00% 4.80% 3.01% 4.61% 1.46% 1.32% 1.42% 1.67%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 4.80% 3.01% 4.61% 1.44% 1.32% 1.42% 1.67%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 17.82% 4.68% 4.33% 7.43% 11.48% 12.89% 15.89%
Return on Equity (ROE)		 0.00% 22.63% 7.69% 8.94% 8.89% 12.80% 14.31% 17.56%
Cash Return on Invested Capital (CROIC)		 0.00% -195.20% 46.98% -50.23% -126.14% -14.34% -21.37% -27.45%
Operating Return on Assets (OROA)		 0.00% 1.15% 1.07% 1.62% 1.36% 6.32% 6.92% 7.54%
Return on Assets (ROA)		 0.00% 0.78% 0.82% 1.19% 0.98% 1.28% 1.38% 1.63%
Return on Common Equity (ROCE)		 0.00% 22.63% 6.19% 7.66% 8.80% 12.68% 14.21% 17.46%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.31% 8.10% 8.57% 8.55% 12.06% 13.24% 15.61%
Net Operating Profit after Tax (NOPAT)		 7.63 17 18 29 33 52 68 105
NOPAT Margin		 14.79% 28.04% 24.10% 34.07% 30.26% 14.52% 14.13% 15.22%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.02% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 31.83% 27.64% 30.47% 24.44% 29.97% 13.96% 14.76% 13.24%
Operating Expenses to Revenue		 62.31% 56.96% 61.78% 53.95% 57.47% 27.94% 28.83% 28.61%
Earnings before Interest and Taxes (EBIT)		 19 25 23 40 45 258 344 487
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 43 46 69 82 283 362 503
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.62 0.57 1.30 0.83 1.30 1.25 1.20
Price to Tangible Book Value (P/TBV)		 0.00 0.62 0.57 1.32 0.85 1.32 1.27 1.21
Price to Revenue (P/Rev)		 1.83 1.53 1.70 5.16 2.91 1.57 1.34 1.17
Price to Earnings (P/E)		 0.00 5.45 0.00 21.44 9.96 10.80 9.47 7.69
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 18.35% 0.00% 4.66% 10.04% 9.26% 10.56% 13.01%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.88 0.75 1.07 0.97 1.02 1.01 0.98
Enterprise Value to Revenue (EV/Rev)		 0.00 10.28 4.69 10.05 32.86 12.07 11.23 10.29
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 14.67 7.46 12.50 43.08 15.35 15.02 14.12
Enterprise Value to EBIT (EV/EBIT)		 0.00 24.96 14.95 21.66 79.26 16.88 15.83 14.59
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 36.66 19.45 29.50 108.59 83.15 79.45 67.62
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 6.30 14.96 72.55 89.04 144.07 390.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 1.25 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 3.71 0.49 1.35 8.61 8.79 9.34 9.68
Long-Term Debt to Equity		 0.00 3.71 0.49 1.35 8.61 8.79 9.34 9.68
Financial Leverage		 0.00 3.71 1.55 0.94 5.16 8.71 9.09 9.53
Leverage Ratio		 0.00 14.49 9.34 7.51 9.05 9.98 10.38 10.79
Compound Leverage Factor		 0.00 14.49 9.34 7.51 9.05 2.75 2.91 3.24
Debt to Total Capital		 0.00% 78.77% 32.77% 57.39% 89.60% 89.79% 90.33% 90.63%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 78.77% 32.77% 57.39% 89.60% 89.79% 90.33% 90.63%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 19.54% 0.42% 0.10% 0.08% 0.06% 0.04%
Common Equity to Total Capital		 0.00% 21.23% 47.69% 42.20% 10.30% 10.13% 9.61% 9.32%
Debt to EBITDA		 0.00 13.12 3.26 6.73 39.98 13.56 13.41 13.01
Net Debt to EBITDA		 0.00 12.49 2.82 6.04 39.22 13.34 13.22 12.51
Long-Term Debt to EBITDA		 0.00 13.12 3.26 6.73 39.98 13.56 13.41 13.01
Debt to NOPAT		 0.00 32.80 8.49 15.87 100.77 73.47 70.98 62.27
Net Debt to NOPAT		 0.00 31.20 7.35 14.25 98.86 72.29 69.94 59.90
Long-Term Debt to NOPAT		 0.00 32.80 8.49 15.87 100.77 73.47 70.98 62.27
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 19.46% 14.28% 0.98% 0.87% 0.70% 0.54%
Liquidity Ratios		 - - - - - - - -
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -703 277 -319 -2,817 -569 -1,032 -1,729
Operating Cash Flow to CapEx		 -4,261.32% -5,256.29% 3,491.86% 17,514.29% 14,930.67% 27,130.56% 0.00% 6,462.99%
Free Cash Flow to Firm to Interest Expense		 0.00 -48.07 23.01 -15.46 -95.57 -34.38 -43.33 -70.35
Operating Cash Flow to Interest Expense		 -0.95 -7.21 4.56 2.80 1.65 2.95 1.58 0.74
Operating Cash Flow Less CapEx to Interest Expense		 -0.98 -7.34 4.43 2.78 1.64 2.94 1.60 0.73
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.03 0.03 0.03 0.03 0.09 0.10 0.11
Fixed Asset Turnover		 0.00 13.18 16.72 21.51 29.91 117.29 218.45 450.16
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 720 460 808 3,657 4,279 5,380 7,213
Invested Capital Turnover		 0.00 0.17 0.13 0.14 0.05 0.09 0.10 0.11
Increase / (Decrease) in Invested Capital		 0.00 720 -259 348 2,849 621 1,101 1,834
Enterprise Value (EV)		 0.00 634 346 862 3,531 4,348 5,440 7,099
Market Capitalization		 94 94 125 442 313 565 648 808
Book Value per Share		 $0.00 $21.08 $10.93 $10.56 $11.62 $13.22 $15.61 $17.29
Tangible Book Value per Share		 $0.00 $21.08 $10.93 $10.35 $11.42 $13.02 $15.41 $17.11
Total Capital		 0.00 720 460 808 3,657 4,279 5,380 7,213
Total Debt		 0.00 567 151 464 3,277 3,842 4,859 6,538
Total Long-Term Debt		 0.00 567 151 464 3,277 3,842 4,859 6,538
Net Debt		 0.00 540 131 416 3,215 3,780 4,789 6,288
Capital Expenditures (CapEx)		 1.70 2.00 1.57 0.33 0.33 0.18 -0.35 0.28
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.31 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 567 151 464 3,277 3,842 4,859 6,538
Total Depreciation and Amortization (D&A)		 12 18 23 29 37 26 19 16
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.90 $0.00 $1.60 $2.07 $2.81
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 22.81M 0.00 32.21M 32.65M 36.85M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.86 $0.00 $1.52 $1.91 $2.75
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 33.98M 0.00 34.48M 35.76M 38.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 32.49M 0.00 32.97M 34.02M 39.24M
Normalized Net Operating Profit after Tax (NOPAT)		 13 17 18 29 33 52 68 105
Normalized NOPAT Margin		 26.11% 28.04% 24.10% 34.07% 30.26% 14.52% 14.13% 15.22%
Pre Tax Income Margin		 37.30% 41.19% 31.35% 46.39% 41.46% 19.75% 19.90% 21.20%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.25 1.74 1.92 1.93 1.51 15.56 14.42 19.81
NOPAT to Interest Expense		 0.10 1.18 1.48 1.42 1.10 3.16 2.87 4.27
EBIT Less CapEx to Interest Expense		 0.23 1.60 1.79 1.91 1.50 15.55 14.44 19.80
NOPAT Less CapEx to Interest Expense		 0.08 1.05 1.34 1.40 1.09 3.15 2.89 4.26
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.99%

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 34,015,492.00 36,491,520.00 38,438,579.00 38,900,030.00 39,235,281.00
DEI Adjusted Shares Outstanding		 - - - - - - 34,015,492.00 36,491,520.00 38,438,579.00 38,900,030.00 39,235,281.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.55 0.72 0.66 0.89 0.57
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 47.85% 438.98% 40.01% 34.64% 29.63% 34.56% 31.66% 59.03% 54.43% 40.92% 23.87%
EBITDA Growth		 26.26% 279.42% 31.47% 20.89% 26.17% 32.60% 27.01% 52.74% 50.11% 40.26% 22.20%
EBIT Growth		 33.35% 242.79% 38.96% 26.95% 31.31% 36.37% 29.24% 70.69% 66.52% 41.08% 22.48%
NOPAT Growth		 18.26% 108.65% 61.45% 20.36% 28.33% 21.20% 7.59% 77.89% 62.72% 67.04% 19.58%
Net Income Growth		 18.26% 113.80% 61.45% 20.36% 28.33% 21.20% 7.59% 77.89% 62.72% 67.04% 19.58%
EPS Growth		 20.69% 100.00% 58.06% 16.67% 25.71% 12.00% 4.08% 64.29% 47.73% 60.71% 11.76%
Operating Cash Flow Growth		 -119.46% -34.63% 188.71% -74.14% -80.16% 27.20% -66.58% -33.21% 165.18% -113.49% 241.80%
Free Cash Flow Firm Growth		 -1,880.07% 78.73% -3,973.52% 71.81% 66.78% -78.69% 63.92% -79.21% -66.01% -66.58% -22.01%
Invested Capital Growth		 336.74% 16.99% 400.63% 22.80% 25.90% 25.72% 29.15% 33.27% 34.14% 34.08% 27.53%
Revenue Q/Q Growth		 8.86% 12.45% 6.86% 2.92% 4.81% 16.72% 4.56% -40.13% -1.46% 329.76% -51.14%
EBITDA Q/Q Growth		 2.63% 10.85% 6.14% 0.12% 7.11% 16.50% 1.66% -64.54% 3.38% 718.70% -59.28%
EBIT Q/Q Growth		 4.09% 13.71% 7.05% 0.19% 7.66% 18.10% 1.45% -66.74% 4.28% 791.70% -60.40%
NOPAT Q/Q Growth		 -0.43% 41.06% 0.97% -15.13% 6.16% 33.22% -10.37% 40.34% -2.90% 36.76% -35.84%
Net Income Q/Q Growth		 -0.43% 41.06% 0.97% -15.13% 6.16% 33.22% -10.37% 40.34% -2.90% 36.76% -35.84%
EPS Q/Q Growth		 -2.78% 42.86% -2.00% -14.29% 4.76% 27.27% -8.93% 35.29% -5.80% 38.46% -36.67%
Operating Cash Flow Q/Q Growth		 -121.99% 368.21% -59.55% 8.42% -253.16% 289.36% -89.37% 116.69% 49.46% -139.20% 369.24%
Free Cash Flow Firm Q/Q Growth		 -0.67% 80.42% -493.59% 75.90% -18.62% -5.31% -19.85% -19.71% -9.88% -5.68% 12.22%
Invested Capital Q/Q Growth		 4.24% 6.46% 5.27% 5.12% 6.87% 6.31% 8.13% 8.48% 7.57% 6.26% 2.84%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 77.16% 76.07% 75.55% 73.49% 75.10% 74.96% 72.88% 43.17% 45.29% 86.28% 71.90%
EBIT Margin		 70.22% 71.01% 71.14% 69.25% 71.13% 71.97% 69.83% 38.80% 41.06% 85.20% 69.04%
Profit (Net Income) Margin		 13.18% 16.54% 15.63% 12.89% 13.05% 14.90% 12.77% 29.93% 29.50% 9.39% 12.33%
Tax Burden Percent		 70.59% 76.95% 74.60% 74.03% 73.51% 64.94% 69.34% 77.15% 71.84% 69.44% 72.22%
Interest Burden Percent		 26.59% 30.26% 29.45% 25.14% 24.96% 31.87% 26.37% 100.00% 100.00% 15.87% 24.72%
Effective Tax Rate		 29.41% 23.05% 25.40% 25.97% 26.49% 35.06% 30.66% 22.85% 28.16% 30.56% 27.78%
Return on Invested Capital (ROIC)		 1.89% 1.50% 2.27% 1.26% 1.29% 1.49% 1.29% 2.99% 2.90% 1.03% 1.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.89% 1.50% 2.27% 1.26% 1.29% 1.49% 1.29% 2.99% 2.90% 1.03% 1.35%
Return on Net Nonoperating Assets (RNNOA)		 9.90% 13.07% 12.18% 11.07% 11.61% 13.58% 11.69% 27.72% 27.63% 9.80% 12.80%
Return on Equity (ROE)		 11.78% 14.57% 14.45% 12.34% 12.90% 15.08% 12.97% 30.72% 30.53% 10.83% 14.15%
Cash Return on Invested Capital (CROIC)		 -123.72% -14.34% -131.22% -19.04% -21.50% -21.37% -24.09% -27.05% -27.63% -27.45% -22.56%
Operating Return on Assets (OROA)		 6.39% 6.27% 6.59% 6.61% 6.85% 7.02% 6.85% 3.77% 3.93% 9.11% 7.38%
Return on Assets (ROA)		 1.20% 1.46% 1.45% 1.23% 1.26% 1.45% 1.25% 2.91% 2.83% 1.00% 1.32%
Return on Common Equity (ROCE)		 11.67% 14.45% 14.32% 12.24% 12.80% 14.97% 12.89% 30.53% 30.36% 10.77% 14.08%
Return on Equity Simple (ROE_SIMPLE)		 10.44% 0.00% 13.00% 13.02% 13.38% 0.00% 12.39% 13.59% 14.35% 0.00% 15.67%
Net Operating Profit after Tax (NOPAT)		 12 17 17 15 16 21 19 26 25 35 22
NOPAT Margin		 13.18% 16.54% 15.63% 12.89% 13.05% 14.90% 12.77% 29.93% 29.50% 9.39% 12.33%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 14.08% 15.12% 14.29% 15.05% 15.13% 14.59% 15.04% 26.19% 27.36% 6.19% 13.19%
Operating Expenses to Revenue		 29.61% 28.19% 27.96% 30.56% 28.93% 28.01% 28.89% 59.37% 58.50% 14.28% 30.04%
Earnings before Interest and Taxes (EBIT)		 65 74 79 79 85 101 102 34 35 315 125
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 71 79 84 84 90 105 106 38 39 319 130
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.89 1.30 1.31 1.25 1.34 1.25 1.13 1.13 1.10 1.20 1.02
Price to Tangible Book Value (P/TBV)		 0.90 1.32 1.33 1.27 1.36 1.27 1.14 1.14 1.11 1.21 1.03
Price to Revenue (P/Rev)		 1.05 1.57 1.51 1.40 1.45 1.34 1.23 1.23 1.20 1.17 0.98
Price to Earnings (P/E)		 8.57 10.80 10.08 9.62 9.96 9.47 9.08 8.32 7.68 7.69 6.54
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 11.66% 9.26% 9.92% 10.39% 10.04% 10.56% 11.01% 12.01% 13.03% 13.01% 15.29%
Enterprise Value to Invested Capital (EV/IC)		 0.98 1.02 1.02 1.01 1.02 1.01 1.00 1.00 0.99 0.98 0.99
Enterprise Value to Revenue (EV/Rev)		 11.11 12.07 11.70 11.34 11.50 11.23 11.19 11.40 11.56 10.29 10.10
Enterprise Value to EBITDA (EV/EBITDA)		 13.63 15.35 15.11 15.02 15.33 15.02 15.11 15.81 16.38 14.12 13.91
Enterprise Value to EBIT (EV/EBIT)		 15.10 16.88 16.39 16.11 16.28 15.83 15.86 16.53 17.05 14.59 14.37
Enterprise Value to NOPAT (EV/NOPAT)		 90.56 83.15 77.87 77.80 79.56 79.45 83.34 77.45 73.96 67.62 67.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 62.62 89.04 64.27 124.17 168.33 144.07 189.38 233.90 120.40 390.89 274.15
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 8.57 8.79 8.87 8.97 9.38 9.34 9.27 9.50 9.65 9.68 9.65
Long-Term Debt to Equity		 8.57 8.79 8.87 8.97 9.38 9.34 9.27 9.50 9.65 9.68 9.65
Financial Leverage		 5.25 8.71 5.37 8.76 9.00 9.09 9.09 9.27 9.53 9.53 9.48
Leverage Ratio		 9.82 9.98 9.99 10.03 10.27 10.38 10.36 10.55 10.81 10.79 10.74
Compound Leverage Factor		 2.61 3.02 2.94 2.52 2.56 3.31 2.73 10.55 10.81 1.71 2.66
Debt to Total Capital		 89.55% 89.79% 89.87% 89.97% 90.36% 90.33% 90.27% 90.48% 90.61% 90.63% 90.61%
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% 0.00%
Long-Term Debt to Total Capital		 89.55% 89.79% 89.87% 89.97% 90.36% 90.33% 90.27% 90.48% 90.61% 90.63% 90.61%
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% 0.00%
Noncontrolling Interests to Total Capital		 0.09% 0.08% 0.08% 0.07% 0.06% 0.06% 0.05% 0.05% 0.05% 0.04% 0.04%
Common Equity to Total Capital		 10.36% 10.13% 10.06% 9.95% 9.58% 9.61% 9.68% 9.47% 9.34% 9.32% 9.35%
Debt to EBITDA		 12.49 13.56 13.34 13.40 13.59 13.41 13.64 14.35 14.97 13.01 12.77
Net Debt to EBITDA		 12.33 13.34 13.15 13.15 13.39 13.22 13.45 14.10 14.68 12.51 12.56
Long-Term Debt to EBITDA		 12.49 13.56 13.34 13.40 13.59 13.41 13.64 14.35 14.97 13.01 12.77
Debt to NOPAT		 83.02 73.47 68.73 69.41 70.54 70.98 75.25 70.28 67.56 62.27 61.88
Net Debt to NOPAT		 81.94 72.29 67.73 68.11 69.50 69.94 74.18 69.08 66.27 59.90 60.85
Long-Term Debt to NOPAT		 83.02 73.47 68.73 69.41 70.54 70.98 75.25 70.28 67.56 62.27 61.88
Noncontrolling Interest Sharing Ratio		 0.95% 0.87% 0.84% 0.79% 0.73% 0.70% 0.64% 0.61% 0.56% 0.54% 0.48%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,087 -604 -3,587 -864 -1,025 -1,080 -1,294 -1,549 -1,702 -1,799 -1,579
Operating Cash Flow to CapEx		 -40,637.50% 24,221.30% 0.00% 13,657.14% -27,032.31% 33,609.09% 3,571.72% 9,823.08% 7,843.84% 0.00% 3,554.71%
Free Cash Flow to Firm to Interest Expense		 -746.00 -145.97 -666.76 -140.45 -166.92 -175.79 -210.71 -252.19 -277.06 -292.88 -104.34
Operating Cash Flow to Interest Expense		 -2.36 6.32 1.97 1.86 -2.86 5.42 0.58 1.25 1.86 -0.73 0.80
Operating Cash Flow Less CapEx to Interest Expense		 -2.36 6.29 2.08 1.85 -2.87 5.40 0.56 1.23 1.84 -0.72 0.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.09 0.09 0.09 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.11
Fixed Asset Turnover		 111.21 117.29 150.07 170.70 196.99 218.45 288.23 319.90 366.96 450.16 497.08
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,019 4,279 4,504 4,735 5,060 5,380 5,817 6,310 6,788 7,213 7,418
Invested Capital Turnover		 0.14 0.09 0.15 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.11
Increase / (Decrease) in Invested Capital		 3,099 621 3,605 879 1,041 1,101 1,313 1,575 1,728 1,834 1,601
Enterprise Value (EV)		 3,926 4,348 4,586 4,775 5,158 5,440 5,816 6,292 6,733 7,099 7,323
Market Capitalization		 370 565 593 591 649 648 636 677 697 808 710
Book Value per Share		 $12.71 $13.22 $13.74 $14.29 $14.64 $15.61 $16.56 $16.38 $16.50 $17.29 $17.67
Tangible Book Value per Share		 $12.50 $13.02 $13.53 $14.08 $14.43 $15.41 $16.36 $16.20 $16.32 $17.11 $17.50
Total Capital		 4,019 4,279 4,504 4,735 5,060 5,380 5,817 6,310 6,788 7,213 7,418
Total Debt		 3,599 3,842 4,048 4,260 4,573 4,859 5,251 5,709 6,151 6,538 6,722
Total Long-Term Debt		 3,599 3,842 4,048 4,260 4,573 4,859 5,251 5,709 6,151 6,538 6,722
Net Debt		 3,552 3,780 3,989 4,181 4,506 4,789 5,176 5,612 6,033 6,288 6,610
Capital Expenditures (CapEx)		 0.02 0.11 -0.60 0.08 0.07 0.10 0.10 0.08 0.15 -0.04 0.34
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 3,599 3,842 4,048 4,260 4,573 4,859 5,251 5,709 6,151 6,538 6,722
Total Depreciation and Amortization (D&A)		 6.41 5.25 4.89 4.84 4.75 4.17 4.46 3.82 3.65 4.02 5.17
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.37 $0.53 $0.52 $0.45 $0.48 $0.62 $0.55 $0.69 $0.66 $0.91 $0.57
Adjusted Weighted Average Basic Shares Outstanding		 32.28M 32.21M 32.54M 32.59M 32.71M 32.65M 33.69M 37.19M 38.07M 36.85M 38.63M
Adjusted Diluted Earnings per Share		 $0.35 $0.50 $0.49 $0.42 $0.44 $0.56 $0.51 $0.69 $0.65 $0.90 $0.57
Adjusted Weighted Average Diluted Shares Outstanding		 34.73M 34.48M 35.44M 35.60M 35.90M 35.76M 36.81M 37.79M 38.80M 38.18M 39.17M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.78M 32.97M 32.99M 33.11M 33.11M 34.02M 36.49M 38.44M 38.90M 39.24M 39.26M
Normalized Net Operating Profit after Tax (NOPAT)		 12 17 17 15 16 21 19 26 25 35 22
Normalized NOPAT Margin		 13.18% 16.54% 15.63% 12.89% 13.05% 14.90% 12.77% 29.93% 29.50% 9.39% 12.33%
Pre Tax Income Margin		 18.68% 21.49% 20.95% 17.41% 17.75% 22.94% 18.42% 38.80% 41.06% 13.52% 17.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 15.67 17.80 14.67 12.85 13.86 16.36 16.60 5.52 5.76 51.36 8.25
NOPAT to Interest Expense		 2.94 4.15 3.22 2.39 2.54 3.39 3.04 4.26 4.14 5.66 1.47
EBIT Less CapEx to Interest Expense		 15.66 17.78 14.78 12.83 13.85 16.35 16.59 5.51 5.73 51.36 8.23
NOPAT Less CapEx to Interest Expense		 2.94 4.12 3.33 2.38 2.53 3.37 3.02 4.25 4.11 5.67 1.45
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% 0.00%
Augmented Payout Ratio		 1.93% 0.00% 2.22% 2.56% 2.43% 0.00% 0.00% 0.00% 0.00% 6.99% 8.94%

Financials Breakdown Chart

Key Financial Trends

Velocity Financial (NYSE: VEL) continued to post solid profitability in Q1 2026, but the quarter also highlighted a few balance sheet and cash flow pressure points investors should watch. Compared with the same period last year, earnings improved meaningfully, while the loan book and leverage continued to expand.

  • Q1 2026 net income rose to $22.3 million, up from $18.6 million in Q1 2025.
  • Revenue increased to $180.9 million from $146.0 million a year earlier, showing stronger top-line momentum.
  • Net interest income improved to $43.9 million from $37.5 million in Q1 2025, helped by higher interest income.
  • Loans and leases interest income climbed to $153.1 million, versus $118.7 million in Q1 2025.
  • Operating cash flow was positive at $12.1 million, a sharp improvement from $3.5 million in Q1 2025.
  • The company added significant book value through retained earnings, with total common equity rising to $693.3 million from $563.2 million a year ago.
  • Diluted EPS held at $0.57, flat versus Q1 2025, as share count increased.
  • The loan portfolio expanded to $7.11 billion from $5.61 billion in Q1 2025, indicating continued business growth.
  • Long-term debt also increased to $6.72 billion from $5.25 billion a year earlier, so leverage remains high.
  • Cash and cash equivalents fell to $87.1 million from $98.9 million at Q3 2025, and the quarter ended with a $137.2 million net cash outflow overall.
  • Non-interest expense stayed elevated at $54.3 million, with other operating expenses still the largest cost line at $115.9 million.
  • Cash interest paid was still substantial at $100.4 million, underscoring the cost of carrying a large debt load.

Bottom line: Velocity Financial showed stronger earnings and operating cash generation in Q1 2026, which is encouraging. However, investors should keep an eye on the company’s rising leverage, heavy interest burden, and the quarter’s negative net cash change. For now, the trend is positive on profitability, but the capital structure remains a key risk.

07/20/26 02:13 PM ETAI Generated. May Contain Errors.

Velocity Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Velocity Financial's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Velocity Financial's net income appears to be on an upward trend, with a most recent value of $104.98 million in 2025, rising from $7.63 million in 2018. The previous period was $68.47 million in 2024. See Velocity Financial's forecast for analyst expectations on what's next for the company.

Over the last 7 years, Velocity Financial's total revenue changed from $51.61 million in 2018 to $689.88 million in 2025, a change of 1,236.7%.

Velocity Financial's total liabilities were at $6.71 billion at the end of 2025, a 33.9% increase from 2024, and a 225.2% increase since 2019.

In the past 6 years, Velocity Financial's cash and equivalents has ranged from $13.27 million in 2020 to $92.10 million in 2025, and is currently $92.10 million as of their latest financial filing in 2025.

Over the last 7 years, Velocity Financial's book value per share changed from 0.00 in 2018 to 17.29 in 2025, a change of 1,728.9%.


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Financial statements for NYSE:VEL last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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