Veris Residential (VRE) Financials

$15.84 -0.06 (-0.38%)

Closing price 05/6/2025 03:59 PM Eastern

Extended Trading

$15.95 +0.11 (+0.72%)

As of 04:16 AM Eastern

Annual Income Statements for Veris Residential

This table shows Veris Residential's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	29	-126	117	23	178	112	-51	-119	-52	-107	-23
Consolidated Net Income / (Loss)	31	-142	130	34	213	144	-34	-110	-35	-112	-27
Net Income / (Loss) Continuing Operations	31	-142	130	11	166	253	-121	-157	-39	-121	-31
Total Pre-Tax Income	31	-142	130	11	88	253	-121	-157	-39	-121	-31
Total Operating Income	89	-96	214	74	146	-18	-77	-59	-32	-44	34
Total Gross Profit	637	595	564	430	600	339	294	186	206	203	263
Total Revenue	637	595	613	459	648	357	307	195	213	260	271
Operating Revenue	633	590	613	459	648	357	307	195	213	260	271
Total Cost of Revenue	0.00	0.00	50	29	48	18	14	8.31	7.02	57	8.15
Operating Cost of Revenue	-	-	50	29	48	18	14	8.31	7.02	57	8.15
Total Operating Expenses	548	691	349	356	454	357	371	246	238	247	229
Selling, General & Admin Expense	184	157	156	128	249	130	139	102	103	95	87
Depreciation Expense	172	170	187	142	228	134	120	69	78	86	83
Other Operating Expenses / (Income)	190	164	114	85	126	61	61	54	48	57	56
Impairment Charge	0.00	198	0.00	0.00	49	32	53	24	9.37	9.32	2.62
Total Other Income / (Expense), net	-57	-46	-84	-63	-59	270	-44	-98	-7.32	-76	-65
Interest Expense	113	103	125	85	155	89	81	95	67	95	89
Interest & Investment Income	1.19	4.07	26	20	6.19	2.00	31	-5.61	1.93	8.62	13
Other Income / (Expense), net	55	53	15	2.36	90	357	5.79	2.12	57	9.94	11
Income Tax Expense	-	-	-	-	-	-	-	0.00	0.00	0.49	0.28
Net Income / (Loss) Discontinued Operations	-	-	-	23	47	-109	88	48	4.50	9.00	4.31
Net Income / (Loss) Attributable to Noncontrolling Interest	2.82	-16	13	11	35	32	18	9.50	17	-5.10	-3.54
Basic Earnings per Share	$0.32	($1.41)	$1.31	$0.06	$1.60	$0.95	($0.70)	($1.39)	($0.63)	($1.22)	($0.25)
Weighted Average Basic Shares Outstanding	188.73M	189.51M	189.99M	190.42M	90.39M	191.08M	90.65M	90.84M	91.05M	91.88M	92.70M
Diluted Earnings per Share	$0.32	($1.41)	$1.30	$0.06	$1.60	$0.95	($0.70)	($1.39)	($0.63)	($1.22)	($0.25)
Weighted Average Diluted Shares Outstanding	200.08M	200.44M	201.00M	201.41M	100.72M	201.38M	100.26M	99.89M	100.27M	100.81M	101.38M
Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	91.16M	92.23M	92.95M

This table shows Veris Residential'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	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-101	32	-20	-27	-55	-5.05	-3.90	2.92	-9.69	-12	-11
Consolidated Net Income / (Loss)	-106	41	-16	-30	-60	-5.75	-4.47	2.74	-11	-14	-14
Net Income / (Loss) Continuing Operations	-23	-25	-19	-25	-61	-16	-6.27	1.32	-11	-15	-14
Total Pre-Tax Income	-23	-25	-19	-25	-60	-16	-6.21	1.49	-11	-15	-14
Total Operating Income	-3.75	-2.38	1.16	4.80	-37	-13	6.36	9.00	11	7.81	5.53
Total Gross Profit	61	50	61	56	28	58	65	56	66	76	65
Total Revenue	63	50	63	64	66	67	67	67	68	68	68
Operating Revenue	63	50	63	64	66	67	67	67	68	68	68
Total Cost of Revenue	2.48	0.23	2.06	8.06	38	8.93	2.27	11	2.13	-7.55	2.81
Operating Cost of Revenue	2.48	0.23	2.06	8.06	38	8.93	2.27	11	2.13	-7.55	2.81
Total Operating Expenses	64	52	59	51	65	71	59	47	55	68	59
Selling, General & Admin Expense	26	24	22	22	28	24	24	22	19	23	21
Depreciation Expense	22	16	22	22	21	21	20	20	21	21	21
Other Operating Expenses / (Income)	13	12	13	7.71	16	21	15	5.26	12	24	14
Impairment Charge	2.54	0.00	3.40	0.00	0.00	5.93	0.00	0.00	2.62	-	3.20
Total Other Income / (Expense), net	-19	-22	-20	-30	-23	-2.79	-13	-7.51	-22	-23	-19
Interest Expense	19	21	22	38	25	10	22	22	21	23	23
Interest & Investment Income	-0.02	-0.55	0.03	6.63	1.45	0.51	8.68	4.47	-0.09	0.19	3.87
Other Income / (Expense), net	0.00	-0.49	2.00	0.85	-0.06	7.15	0.26	10	-0.31	0.39	-0.26
Income Tax Expense	0.00	-	0.00	0.00	0.29	0.20	0.06	0.18	0.04	0.00	0.04
Net Income / (Loss) Discontinued Operations	-83	66	2.60	-4.68	0.48	11	1.80	1.42	0.21	0.88	0.14
Net Income / (Loss) Attributable to Noncontrolling Interest	-4.68	9.02	3.74	-2.70	-5.44	-0.70	-0.57	-0.19	-1.22	-1.58	-3.03
Basic Earnings per Share	($1.10)	$0.35	($0.27)	($0.30)	($0.60)	($0.05)	($0.04)	$0.03	($0.10)	($0.14)	($0.12)
Weighted Average Basic Shares Outstanding	91.09M	91.05M	91.23M	91.87M	92.18M	91.88M	92.28M	92.66M	92.90M	92.70M	93.06M
Diluted Earnings per Share	($1.10)	$0.35	($0.27)	($0.30)	($0.60)	($0.05)	($0.04)	$0.03	($0.10)	($0.14)	($0.12)
Weighted Average Diluted Shares Outstanding	100.38M	100.27M	100.53M	100.85M	100.93M	100.81M	100.97M	101.95M	101.59M	101.38M	101.69M
Weighted Average Basic & Diluted Shares Outstanding	91.08M	91.16M	91.68M	92.06M	92.22M	92.23M	92.58M	92.89M	92.90M	92.95M	93.32M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	$0.07	-	$0.08

This table details how cash moves in and out of Veris Residential's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-192	7.53	13	-18	-18	-8.39	11	-0.85	-3.81	6.93	-30
Net Cash From Operating Activities	159	169	100	196	167	132	85	56	66	46	52
Net Cash From Continuing Operating Activities	159	169	100	111	87	53	7.75	-3.15	14	42	54
Net Income / (Loss) Continuing Operations	31	-142	130	11	83	253	-121	-157	-39	-121	-31
Consolidated Net Income / (Loss)	31	-142	130	34	106	144	-34	-110	-35	-112	-27
Net Income / (Loss) Discontinued Operations	-	-	-	23	24	-109	88	48	4.50	9.00	4.31
Depreciation Expense	174	172	187	136	109	130	118	69	78	86	83
Amortization Expense	21	9.79	12	12	4.59	4.00	11	15	19	25	24
Non-Cash Adjustments To Reconcile Net Income	-41	147	-156	-19	-93	-311	15	80	-49	52	-19
Changes in Operating Assets and Liabilities, net	-26	-17	-73	-29	-17	-22	-16	-9.17	5.55	1.33	-2.63
Net Cash From Discontinued Operating Activities	-	-	-	85	80	79	78	59	53	3.06	-1.97
Net Cash From Investing Activities	50	-223	-138	-565	-168	-416	28	446	220	580	162
Net Cash From Continuing Investing Activities	50	-223	-138	-181	-113	-341	-310	-119	-24	20	83
Purchase of Property, Plant & Equipment	-	-	-	-90	-	-	-156	-42	-17	-12	-18
Acquisitions	-129	-148	-444	-271	-177	-965	-2.96	-1.28	-0.16	-0.76	-0.28
Purchase of Investments	-117	-175	-329	-	-114	-88	-	0.00	-131	0.00	0.00
Sale of Property, Plant & Equipment	275	81	605	313	338	826	65	52	153	23	89
Divestitures	0.00	6.45	6.42	99	0.00	4.04	65	3.87	0.00	0.00	6.10
Sale and/or Maturity of Investments	63	8.25	0.50	-	12	47	-	7.26	2.93	1.30	0.03
Other Investing Activities, net	-41	5.35	22	-230	-173	-164	-282	-139	-33	8.52	6.53
Net Cash From Discontinued Investing Activities	-	-	-	-384	-55	-75	339	565	244	560	79
Net Cash From Financing Activities	-402	61	51	351	-17	276	-103	-503	-290	-618	-245
Net Cash From Continuing Financing Activities	-402	61	51	351	-17	276	-103	-503	-290	-618	-245
Repayment of Debt	-714	-225	-1,841	-1,282	-916	-784	-223	-822	-352	-256	-576
Repurchase of Common Equity	0.00	0.00	-38	0.00	-13	-35	-2.69	-27	-28	-17	-0.55
Payment of Dividends	-90	-58	-59	-78	-88	-81	-86	-0.48	-0.06	-5.53	-26
Issuance of Debt	407	345	1,639	1,574	895	1,706	212	346	102	196	374
Issuance of Common Equity	0.15	0.00	0.00	-	105	145	-	0.21	-12	-535	-15

This table details how cash moves in and out of Veris Residential'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	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	11	-16	9.48	367	-384	14	84	-97	-8.46	-8.16	-2.20
Net Cash From Operating Activities	14	6.72	12	12	8.91	12	16	11	14	12	13
Net Cash From Continuing Operating Activities	8.55	2.67	6.55	14	7.29	14	15	11	14	14	13
Net Income / (Loss) Continuing Operations	-23	-23	-19	-25	-61	-16	-6.27	1.32	-11	-15	-14
Consolidated Net Income / (Loss)	-106	41	-16	-30	-60	-5.75	-4.47	2.74	-11	-14	-14
Net Income / (Loss) Discontinued Operations	-83	64	2.60	-4.68	0.48	11	1.80	1.42	0.21	0.88	0.14
Depreciation Expense	22	16	22	22	21	21	20	20	21	21	21
Amortization Expense	4.19	4.39	5.16	4.18	11	4.53	5.54	4.82	7.70	6.09	6.15
Non-Cash Adjustments To Reconcile Net Income	2.83	1.15	2.29	14	38	-2.73	-7.99	-14	2.20	0.63	-0.49
Changes in Operating Assets and Liabilities, net	1.87	4.57	-3.83	0.02	-2.60	7.74	3.92	-1.92	-5.82	1.19	-0.01
Net Cash From Discontinued Operating Activities	5.48	4.05	5.55	-1.97	1.62	-2.15	0.40	0.15	-0.19	-2.32	0.16
Net Cash From Investing Activities	-35	100	89	362	43	85	94	72	-0.90	-2.99	3.44
Net Cash From Continuing Investing Activities	-31	24	6.64	-1.36	0.68	14	13	76	-0.90	-4.89	3.44
Acquisitions	-125	130	-0.04	-0.06	-0.08	-0.58	-0.06	-0.17	-	-0.05	0.00
Purchase of Investments	-6.05	-116	-	-	-	-	-	-	-	-	-5.81
Sale of Property, Plant & Equipment	98	26	6.36	0.16	1.26	15	10	79	-	-	7.14
Divestitures	-	-	0.00	-	-	-	6.10	-	-	-	0.00
Sale and/or Maturity of Investments	0.74	0.75	-	-	-	-	-	-	-	-	0.00
Other Investing Activities, net	1.10	-0.57	2.70	2.61	2.85	0.36	-0.35	-0.05	4.54	2.39	2.11
Net Cash From Discontinued Investing Activities	-4.31	77	83	364	42	71	81	-4.02	-0.00	1.90	0.00
Net Cash From Financing Activities	32	-124	-92	-7.24	-436	-84	-26	-180	-21	-17	-19
Net Cash From Continuing Financing Activities	32	-124	-92	-7.24	-436	-84	-26	-180	-21	-17	-19
Repayment of Debt	-7.47	-130	-101	-0.74	-91	-63	-3.38	-230	-317	-27	-26
Repurchase of Common Equity	-6.52	-6.41	-6.37	-6.46	13	-17	-0.30	-0.08	-0.08	-0.08	-0.23
Payment of Dividends	0.01	-0.03	0.00	-0.04	-17	11	-6.27	-5.71	-6.64	-7.49	-8.44
Issuance of Debt	46	13	16	-	180	-	0.00	55	302	17	20
Issuance of Common Equity	-	0.02	0.00	-	0.08	-535	-0.06	0.16	-	-16	0.07
Other Financing Activities, net	-	-	0.00	-	-520	-	-16	-	-	-	-3.92

This table presents Veris Residential's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	4,192	4,054	4,297	4,958	5,061	5,293	5,148	4,527	3,921	3,241	2,983
Total Current Assets	38	48	41	35	35	33	47	54	51	57	26
Cash & Equivalents	30	37	32	28	30	26	38	32	27	28	7.25
Restricted Cash	-	-	-	-	-	-	-	20	21	27	17
Accounts Receivable	8.58	11	9.62	6.79	5.37	7.19	9.38	2.36	2.92	2.74	1.38
Plant, Property, & Equipment, net	3,544	3,343	3,513	4,187	4,317	4,665	4,639	3,493	3,608	3,006	2,795
Plant, Property & Equipment, gross	4,958	4,808	4,845	5,274	5,415	5,223	5,296	4,077	4,240	3,450	3,228
Accumulated Depreciation	1,414	1,464	1,332	1,087	1,098	559	656	583	632	444	433
Total Noncurrent Assets	610	663	743	736	709	595	461	5,057	262	177	162
Long-Term Investments	247	303	320	253	233	209	162	138	126	118	111
Other Noncurrent Operating Assets	239	359	423	483	476	386	299	4,228	136	59	51
Total Liabilities & Shareholders' Equity	4,192	4,054	4,297	4,958	5,061	5,293	5,148	4,527	3,921	3,241	2,983
Total Liabilities	2,310	2,370	2,570	3,077	3,033	3,090	3,042	2,557	2,006	1,936	1,740
Total Current Liabilities	127	380	864	1,090	1,031	610	265	135	102	77	408
Short-Term Debt	-	155	634	822	791	329	25	-	-	0.00	349
Accounts Payable	127	135	160	193	168	210	195	135	72	55	43
Other Current Liabilities	-	50	46	44	41	39	34	-	23	15	12
Other Current Nonoperating Liabilities	-	24	8.43	9.52	9.12	10	10	-	7.13	6.58	5.26
Total Noncurrent Liabilities	2,183	1,990	1,706	1,987	2,002	2,480	2,777	2,421	1,904	1,859	1,332
Long-Term Debt	2,089	1,990	1,706	1,987	2,002	2,480	2,777	2,389	1,904	1,854	1,323
Other Noncurrent Operating Liabilities	95	-	-	-	-	-	-	32	-	5.54	8.53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	0.00	212	330	503	513	521	515	25	9.29
Total Equity & Noncontrolling Interests	1,882	1,684	1,727	1,669	1,697	1,699	1,592	1,449	1,399	1,280	1,233
Total Preferred & Common Equity	1,625	1,456	1,527	1,476	1,487	1,494	1,399	1,282	1,236	1,137	1,099
Total Common Equity	1,625	1,456	1,527	1,476	1,487	1,494	1,399	1,282	1,236	1,137	1,099
Common Stock	2,561	2,571	2,577	2,566	2,562	2,536	2,529	2,531	2,533	2,554	2,565
Retained Earnings	-936	-1,116	-1,052	-1,096	-1,085	-1,043	-1,130	-1,249	-1,301	-1,418	-1,466
Accumulated Other Comprehensive Income / (Loss)	-	0.00	1.99	6.69	8.77	-0.02	0.00	0.01	3.98	1.81	0.15
Noncontrolling Interest	257	228	200	192	211	206	194	167	164	142	134

This table presents Veris Residential'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
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
Total Assets	4,256	3,801	3,773	3,330	3,213	3,038	3,006	2,952
Total Current Assets	66	62	401	45	140	20	35	23
Cash & Equivalents	38	37	397	17	113	18	13	7.60
Restricted Cash	26	20	-	24	26	-	20	15
Accounts Receivable	2.34	4.55	4.50	3.86	1.67	2.00	2.04	1.17
Plant, Property, & Equipment, net	3,896	3,610	3,155	3,219	2,906	2,823	2,806	2,771
Plant, Property & Equipment, gross	4,508	4,052	3,470	3,679	3,212	3,214	3,218	3,213
Accumulated Depreciation	612	442	438	461	372	391	412	452
Total Noncurrent Assets	294	129	340	66	233	194	165	167
Long-Term Investments	130	-	122	-	119	120	114	112
Noncurrent Note & Lease Receivables	-	-	-	-	1.54	-	-	2.41
Other Noncurrent Operating Assets	164	129	217	66	46	74	51	44
Other Noncurrent Nonoperating Assets	-	-	-	-	67	-	-	9.14
Total Liabilities & Shareholders' Equity	4,256	3,801	3,773	3,330	3,213	3,038	3,006	2,952
Total Liabilities	2,379	1,906	2,385	1,999	1,931	1,758	1,747	1,733
Total Current Liabilities	221	86	53	145	59	47	415	41
Accounts Payable	81	56	53	58	54	47	46	41
Total Noncurrent Liabilities	2,158	1,820	2,331	1,854	1,872	1,710	1,332	1,692
Long-Term Debt	2,158	1,820	1,821	1,854	1,853	1,687	1,324	1,667
Capital Lease Obligations	-	-	0.00	-	0.00	0.00	-	0.00
Other Noncurrent Operating Liabilities	-	-	510	-	19	23	7.47	25
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	515	520	40	40	9.29	9.29	9.29	9.29
Total Equity & Noncontrolling Interests	1,362	1,374	1,348	1,291	1,272	1,271	1,250	1,209
Total Preferred & Common Equity	1,202	1,217	1,197	1,148	1,132	1,132	1,114	1,080
Total Common Equity	1,202	1,217	1,197	1,148	1,132	1,132	1,114	1,080
Common Stock	2,531	2,535	2,541	2,552	2,557	2,560	2,563	2,566
Retained Earnings	-1,333	-1,321	-1,349	-1,408	-1,427	-1,430	-1,446	-1,484
Accumulated Other Comprehensive Income / (Loss)	4.28	3.12	4.52	3.87	2.81	2.04	-2.36	-0.86
Noncontrolling Interest	160	157	151	143	140	139	136	129

This table displays calculated financial ratios and metrics derived from Veris Residential's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.53%	80.25%	3.11%	-25.17%	41.08%	-44.84%	-13.92%	-36.70%	9.61%	22.00%	4.14%
EBITDA Growth	87.60%	-118.05%	4,289.01%	-95.35%	56.43%	35.01%	-87.79%	-54.15%	359.09%	-37.27%	98.77%
EBIT Growth	327.62%	-259.96%	1,266.38%	-133.77%	211.37%	282.24%	-121.02%	20.09%	144.15%	-237.00%	229.81%
NOPAT Growth	555.31%	-351.86%	835.61%	-131.24%	98.78%	-112.04%	-206.41%	23.34%	45.82%	-38.66%	176.46%
Net Income Growth	264.71%	-552.52%	191.72%	-148.24%	531.12%	-32.41%	-123.36%	-226.03%	68.15%	-222.09%	76.27%
EPS Growth	576.47%	-1,081.25%	192.20%	-190.77%	2,566.67%	-40.63%	-173.68%	-98.57%	54.68%	-93.65%	79.51%
Operating Cash Flow Growth	-19.85%	6.41%	-40.92%	191.86%	-14.82%	-42.17%	-35.21%	-34.31%	18.42%	-31.47%	14.91%
Free Cash Flow Firm Growth	25.22%	-67.85%	-190.89%	-18,235.49%	99.67%	-11,402.90%	115.39%	-8,163.05%	233.96%	-84.11%	-63.08%
Invested Capital Growth	-5.49%	-8.94%	12.65%	37.53%	3.35%	4.80%	-1.89%	61.69%	-52.13%	-18.06%	-6.96%
Revenue Q/Q Growth	3.42%	97.51%	2.40%	-27.71%	68.63%	19.36%	-22.41%	0.00%	78.10%	6.89%	0.39%
EBITDA Q/Q Growth	41.40%	-39.94%	146.70%	5.26%	48.25%	4.58%	1,607.44%	0.00%	5,943.32%	2.68%	11.73%
EBIT Q/Q Growth	3,316.05%	-184.58%	3,972.04%	183.19%	102.22%	489.37%	6.43%	0.00%	137.65%	-10.71%	47.37%
NOPAT Q/Q Growth	397.09%	-40.84%	3,528.00%	-109.48%	203.23%	-118.23%	-1.15%	0.00%	52.09%	-32.76%	164.87%
Net Income Q/Q Growth	514.44%	-35.45%	471.38%	-25.19%	258.92%	-59.84%	79.92%	0.00%	64.77%	-70.97%	-45.02%
EPS Q/Q Growth	277.78%	-21.55%	371.96%	-73.91%	357.14%	-19.14%	11.39%	0.00%	51.16%	-48.78%	-56.25%
Operating Cash Flow Q/Q Growth	-7.01%	1.20%	-33.06%	48.39%	4.56%	-18.48%	-2.40%	0.00%	-11.01%	13.87%	-0.78%
Free Cash Flow Firm Q/Q Growth	127.95%	-133.64%	202.51%	-126.82%	97.91%	125.02%	-91.82%	-663.53%	1,837.85%	-12.40%	-45.87%
Invested Capital Q/Q Growth	-5.84%	3.98%	-5.48%	1.85%	0.05%	-8.08%	-0.26%	81.34%	-7.69%	-6.93%	-0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	200.00%	200.00%	183.82%	187.15%	92.65%	189.99%	95.54%	95.73%	96.71%	77.92%	96.99%
EBITDA Margin	106.40%	23.34%	139.71%	97.69%	54.16%	132.56%	18.80%	13.61%	57.02%	29.32%	55.96%
Operating Margin	27.89%	-16.19%	69.87%	32.10%	22.62%	-4.94%	-25.11%	-30.41%	-15.03%	-17.08%	12.54%
EBIT Margin	45.12%	-7.24%	74.88%	33.13%	36.56%	95.12%	-23.23%	-29.32%	11.81%	-13.26%	16.53%
Profit (Net Income) Margin	4.93%	-47.76%	21.24%	14.69%	32.86%	80.53%	-10.93%	-56.28%	-16.35%	-43.17%	-9.84%
Tax Burden Percent	444.79%	200.00%	200.00%	622.10%	242.44%	0.00%	27.70%	69.65%	88.58%	92.96%	86.86%
Interest Burden Percent	21.85%	659.62%	113.47%	28.51%	37.07%	148.83%	169.83%	275.57%	-156.30%	350.12%	-68.50%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.67%	-1.87%	11.83%	3.62%	3.24%	4.92%	-1.13%	-0.67%	-0.40%	-0.94%	0.82%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.37%	-11.90%	3.08%	0.05%	5.84%	12.75%	-0.35%	-2.32%	-0.73%	-5.68%	-2.30%
Return on Net Nonoperating Assets (RNNOA)	-1.37%	-6.10%	3.49%	0.07%	7.64%	15.52%	-0.43%	-4.70%	-1.40%	-6.04%	-2.92%
Return on Equity (ROE)	3.30%	-15.94%	15.28%	3.74%	10.89%	0.00%	-1.56%	-5.37%	-1.80%	-6.98%	-2.09%
Cash Return on Invested Capital (CROIC)	15.97%	5.84%	0.23%	-30.64%	-0.05%	0.00%	0.77%	-47.82%	70.11%	18.91%	8.03%
Operating Return on Assets (OROA)	6.60%	-2.09%	11.00%	3.29%	4.73%	13.13%	-1.37%	-1.18%	0.60%	-0.96%	1.44%
Return on Assets (ROA)	0.72%	-6.89%	6.24%	0.73%	4.25%	5.56%	-0.64%	-2.26%	-0.83%	-3.14%	-0.86%
Return on Common Equity (ROCE)	2.84%	-13.77%	13.37%	3.11%	8.25%	0.00%	-1.05%	-3.53%	-1.16%	-5.15%	-1.84%
Return on Equity Simple (ROE_SIMPLE)	3.86%	-19.52%	17.06%	2.28%	14.31%	9.63%	-2.40%	-8.54%	-2.82%	-9.88%	-2.43%
Net Operating Profit after Tax (NOPAT)	89	-67	214	74	146	-18	-54	-41	-22	-31	24
NOPAT Margin	13.95%	-11.34%	69.87%	32.10%	22.62%	86.17%	-17.58%	-21.28%	-10.52%	-11.96%	8.78%
Net Nonoperating Expense Percent (NNEP)	10.52%	12.26%	8.77%	3.52%	-2.59%	0.00%	-0.78%	1.65%	0.34%	4.74%	3.12%
Return On Investment Capital (ROIC_SIMPLE)	2.24%	-1.76%	5.27%	1.65%	3.26%	-0.39%	-1.23%	-1.08%	-0.68%	-0.99%	0.82%
Cost of Revenue to Revenue	0.00%	0.00%	16.18%	12.85%	7.35%	5.01%	4.46%	4.27%	3.29%	22.08%	3.01%
SG&A Expenses to Revenue	57.69%	52.82%	50.84%	55.82%	38.52%	36.45%	45.09%	52.63%	48.33%	36.58%	32.20%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	172.11%	232.39%	113.95%	155.05%	70.03%	199.86%	120.65%	126.14%	111.74%	95.00%	84.45%
Earnings before Interest and Taxes (EBIT)	144	-43	230	76	237	340	-71	-57	25	-35	45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	339	139	428	224	351	473	58	27	122	76	152
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.76	3.91	4.76	1.14	1.08	1.32	0.79	1.27	1.15	1.25	1.41
Price to Tangible Book Value (P/TBV)	2.76	1.18	4.76	3.76	1.08	1.32	0.79	1.27	1.15	1.25	1.41
Price to Revenue (P/Rev)	7.05	2.89	11.85	12.11	2.47	5.50	3.58	8.35	6.65	5.48	5.70
Price to Earnings (P/E)	47.48	0.00	61.99	72.57	9.00	57.73	0.00	0.00	0.00	0.00	0.00
Dividend Yield	5.78%	3.05%	2.40%	3.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.66%	1.58%
Earnings Yield	2.11%	0.00%	10.63%	2.75%	11.11%	5.69%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.93	2.77	3.13	1.04	1.02	2.70	0.93	0.59	1.05	1.09	1.16
Enterprise Value to Revenue (EV/Rev)	5.38	16.40	19.01	10.06	7.21	14.69	14.34	23.19	17.94	12.58	11.90
Enterprise Value to EBITDA (EV/EBITDA)	10.11	27.04	27.22	50.95	13.32	33.34	76.26	170.37	31.46	42.92	21.26
Enterprise Value to EBIT (EV/EBIT)	82.41	0.00	50.79	60.70	19.73	46.47	0.00	0.00	151.90	0.00	71.96
Enterprise Value to NOPAT (EV/NOPAT)	122.24	0.00	54.43	155.04	31.89	0.00	0.00	0.00	0.00	0.00	135.50
Enterprise Value to Operating Cash Flow (EV/OCF)	21.51	22.15	116.51	58.24	27.96	39.81	51.60	80.46	57.59	71.93	61.62
Enterprise Value to Free Cash Flow (EV/FCFF)	31.19	38.47	1,058.51	0.00	0.00	0.00	120.39	0.00	0.97	5.21	13.90
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.22	2.55	2.71	2.99	1.38	1.27	1.33	1.21	0.99	1.42	1.35
Long-Term Debt to Equity	2.22	2.46	2.34	2.55	0.99	3.31	1.32	1.21	0.99	1.42	1.07
Financial Leverage	0.00	2.05	2.26	2.53	1.31	0.00	1.21	2.03	1.90	1.06	1.27
Leverage Ratio	2.29	4.63	4.90	5.13	2.56	0.00	2.42	2.37	2.17	2.22	2.44
Compound Leverage Factor	1.00	15.25	2.78	0.73	0.95	4.36	4.12	6.54	-3.40	7.79	-1.67
Debt to Total Capital	105.20%	112.06%	115.08%	119.80%	57.94%	0.00%	57.09%	54.80%	49.86%	58.70%	57.38%
Short-Term Debt to Total Capital	0.00%	8.10%	31.18%	35.06%	16.41%	0.00%	0.51%	0.00%	0.00%	0.00%	11.97%
Long-Term Debt to Total Capital	0.00%	0.00%	99.49%	102.27%	41.53%	0.00%	56.58%	54.80%	49.86%	58.70%	45.41%
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	12.96%	11.91%	10.30%	17.25%	11.22%	28.30%	14.40%	15.80%	17.78%	5.29%	4.91%
Common Equity to Total Capital	81.84%	76.03%	75.11%	62.95%	30.84%	0.00%	28.50%	29.40%	32.36%	36.01%	37.72%
Debt to EBITDA	13.82	30.91	10.92	25.06	7.96	17.80	48.48	90.15	15.65	24.29	11.02
Net Debt to EBITDA	11.99	26.00	9.28	22.56	7.21	16.28	45.01	83.01	14.22	22.03	10.13
Long-Term Debt to EBITDA	13.82	28.67	9.44	21.39	5.71	17.10	48.04	90.15	15.65	24.29	8.72
Debt to NOPAT	23.52	-47.72	21.84	76.26	19.07	-141.98	-51.84	-57.67	-84.83	-59.57	70.27
Net Debt to NOPAT	49.54	-26.77	18.56	68.64	17.28	-130.16	-48.14	-53.10	-77.08	-54.02	64.57
Long-Term Debt to NOPAT	57.12	-45.42	18.88	65.10	13.67	-123.33	-51.38	-57.67	-84.83	-59.57	55.61
Altman Z-Score	0.00	0.70	1.39	0.46	0.06	0.99	-0.13	-0.02	0.02	-0.13	-0.17
Noncontrolling Interest Sharing Ratio	14.03%	27.22%	25.61%	33.97%	24.19%	0.00%	32.87%	34.24%	35.20%	26.28%	12.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.60	0.44	0.31	0.21	0.03	0.22	0.18	0.40	0.49	0.74	0.06
Quick Ratio	0.30	0.00	0.31	0.21	0.03	0.19	0.18	0.25	0.29	0.40	0.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	303	98	4.15	-628	-2.07	-238	37	-2,952	3,955	628	232
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	94.32%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	2.67	0.95	0.07	-14.70	-0.01	-5.35	0.45	-31.21	59.46	6.62	2.61
Operating Cash Flow to Interest Expense	1.40	1.64	0.80	4.64	1.08	1.48	1.05	0.59	1.00	0.48	0.59
Operating Cash Flow Less CapEx to Interest Expense	3.83	2.43	5.62	4.92	3.25	21.54	-0.06	0.71	3.05	0.59	1.39
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.43	0.29	0.20	0.13	0.07	0.06	0.04	0.05	0.07	0.09
Accounts Receivable Turnover	72.75	184.65	120.45	111.94	106.53	113.72	37.11	33.16	80.77	91.94	131.69
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.18	0.52	0.36	0.24	0.15	0.16	0.07	0.05	0.06	0.08	0.09
Accounts Payable Turnover	0.00	0.00	0.67	0.33	0.26	0.09	0.07	0.05	0.07	0.90	0.17
Days Sales Outstanding (DSO)	10.03	11.86	12.12	13.04	3.43	6.42	9.84	11.01	4.52	3.97	2.77
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	2,169.31	4,363.59	1,383.50	9,846.69	5,378.10	7,243.19	5,383.41	404.91	2,199.49
Cash Conversion Cycle (CCC)	10.03	11.86	-2,157.19	-4,350.55	-1,380.07	-4,941.08	-5,368.27	-7,232.18	-5,378.89	-400.94	-2,196.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,694	3,529	3,739	4,440	4,589	4,809	4,718	7,629	3,652	2,992	2,784
Invested Capital Turnover	0.34	0.49	0.34	0.23	0.14	0.15	0.06	0.03	0.04	0.08	0.09
Increase / (Decrease) in Invested Capital	-215	-165	210	702	149	220	-91	2,911	-3,977	-659	-208
Enterprise Value (EV)	8,627	9,756	11,664	4,616	4,671	15,788	4,408	4,515	3,827	3,275	3,225
Market Capitalization	1,356	5,690	7,267	1,683	1,600	1,966	1,100	1,626	1,418	1,427	1,545
Book Value per Share	$18.25	$16.30	$17.03	$16.42	$16.46	$16.50	$15.42	$14.11	$13.57	$12.33	$11.83
Tangible Book Value per Share	$18.25	$16.30	$17.03	$16.42	$16.46	$16.50	$15.42	$14.11	$13.57	$12.33	$11.83
Total Capital	3,971	3,829	4,067	4,690	4,820	5,011	4,907	4,360	3,819	3,158	2,915
Total Debt	2,089	2,145	2,340	2,810	2,793	2,809	2,802	2,389	1,904	1,854	1,672
Total Long-Term Debt	2,089	1,990	1,706	1,987	2,002	2,480	2,777	2,389	1,904	1,854	1,323
Net Debt	1,812	1,805	1,988	2,529	2,530	2,574	2,601	2,200	1,730	1,681	1,537
Capital Expenditures (CapEx)	-275	-81	-605	-222	-338	-826	91	-11	-136	-11	-71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-118	-214	-220	-261	-235	-274	-231	-133	-99	-74	-58
Debt-free Net Working Capital (DFNWC)	-89	-177	-189	-232	-205	-249	-193	-82	-52	-20	-34
Net Working Capital (NWC)	-89	-332	-823	-1,055	-996	-578	-218	-82	-52	-20	-383
Net Nonoperating Expense (NNE)	57	75	84	40	-66	-161	-20	68	12	81	50
Net Nonoperating Obligations (NNO)	1,812	1,845	2,012	2,559	2,561	2,606	2,613	5,658	1,737	1,688	1,542
Total Depreciation and Amortization (D&A)	195	182	199	148	114	134	129	84	96	111	107
Debt-free, Cash-free Net Working Capital to Revenue	-18.59%	-35.99%	-60.44%	-97.28%	-36.29%	-76.77%	-75.11%	-68.33%	-46.54%	-28.55%	-21.45%
Debt-free Net Working Capital to Revenue	-13.95%	-38.40%	-50.13%	-85.00%	-31.71%	-139.22%	-62.72%	-41.89%	-24.21%	-7.58%	-12.48%
Net Working Capital to Revenue	-27.90%	-55.81%	-153.50%	-264.13%	-153.85%	-276.44%	-70.85%	-41.89%	-24.21%	-7.58%	-141.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.06	$0.80	$0.95	($0.70)	($1.39)	($0.63)	($1.22)	($0.25)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	190.42M	191.02M	191.08M	190.91M	190.73M	91.05M	91.88M	92.70M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.06	$0.80	$0.95	($0.70)	($1.39)	($0.63)	($1.22)	($0.25)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	201.41M	201.45M	201.38M	200.52M	199.79M	100.27M	100.81M	101.38M
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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	91.16M	92.23M	92.95M
Normalized Net Operating Profit after Tax (NOPAT)	64	72	75	52	-2.29	10	-19	-27	-16	-25	26
Normalized NOPAT Margin	10.00%	12.14%	49.57%	22.47%	-0.35%	5.80%	-6.02%	-13.84%	-7.45%	-9.45%	9.46%
Pre Tax Income Margin	9.86%	-23.88%	42.48%	4.72%	13.55%	141.57%	-39.45%	-80.80%	-18.46%	-46.43%	-11.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.53	-0.84	5.40	1.80	1.53	3.82	-0.88	-0.60	0.38	-0.36	0.50
NOPAT to Interest Expense	1.57	-0.65	5.04	1.74	0.94	3.46	-0.67	-0.44	-0.34	-0.33	0.27
EBIT Less CapEx to Interest Expense	3.69	0.74	19.62	9.21	3.70	13.11	-1.99	-0.49	2.43	-0.25	1.30
NOPAT Less CapEx to Interest Expense	3.21	0.13	19.26	9.15	3.12	22.03	-1.78	-0.32	1.71	-0.22	1.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	572.33%	-40.72%	90.53%	461.74%	41.40%	112.85%	-256.69%	-0.43%	-0.17%	-4.92%	-97.91%
Augmented Payout Ratio	572.33%	-40.72%	148.77%	461.74%	47.72%	161.05%	-264.71%	-24.97%	-81.39%	-20.29%	-99.96%

This table displays calculated financial ratios and metrics derived from Veris Residential'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	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-23.18%	215.97%	35.58%	19.31%	5.29%	33.40%	7.58%	5.09%	2.56%	1.59%	0.62%
EBITDA Growth	-20.44%	136.24%	170.75%	-54.96%	-121.59%	11.34%	7.28%	41.07%	899.90%	81.48%	-1.16%
EBIT Growth	4.07%	92.31%	123.35%	-87.52%	-891.19%	-116.62%	109.57%	244.42%	128.31%	232.17%	-28.78%
NOPAT Growth	4.07%	93.61%	107.17%	134.31%	-889.67%	-461.35%	449.14%	136.14%	129.19%	158.52%	-13.04%
Net Income Growth	-310.60%	275.99%	-258.52%	-186.97%	43.11%	-114.05%	72.46%	109.08%	81.90%	-144.05%	-207.23%
EPS Growth	-233.33%	212.90%	-107.69%	-220.00%	45.45%	-114.29%	85.19%	110.00%	83.33%	-180.00%	-200.00%
Operating Cash Flow Growth	6.02%	-55.02%	-61.60%	-13.67%	-36.48%	82.56%	29.87%	-11.69%	56.33%	-3.33%	-16.02%
Free Cash Flow Firm Growth	-52.35%	235.37%	-39.17%	661.76%	187.86%	-83.65%	145.35%	-100.65%	-40.24%	-67.14%	-82.82%
Invested Capital Growth	-5.96%	-52.13%	-8.02%	-30.21%	-18.72%	-18.06%	-21.33%	0.57%	-13.05%	-6.96%	-4.55%
Revenue Q/Q Growth	17.32%	-20.43%	24.60%	2.57%	3.53%	0.82%	0.48%	0.20%	1.04%	-0.13%	-0.48%
EBITDA Q/Q Growth	-67.53%	-22.99%	71.33%	5.14%	-115.56%	497.18%	65.08%	38.26%	-11.76%	-9.89%	-5.83%
EBIT Q/Q Growth	-108.26%	23.55%	210.20%	79.25%	-756.36%	83.29%	206.61%	194.59%	-46.05%	-21.99%	-28.95%
NOPAT Q/Q Growth	73.24%	36.52%	148.70%	314.85%	-871.71%	63.99%	147.64%	78.40%	-4.60%	-27.81%	-29.21%
Net Income Q/Q Growth	-405.63%	138.61%	-139.69%	-85.67%	-99.93%	90.46%	22.22%	161.20%	-498.79%	-28.57%	2.09%
EPS Q/Q Growth	-540.00%	131.82%	-177.14%	-11.11%	-100.00%	91.67%	20.00%	175.00%	-433.33%	-40.00%	14.29%
Operating Cash Flow Q/Q Growth	-1.30%	-52.08%	80.01%	1.41%	-27.38%	37.72%	28.06%	-31.04%	28.55%	-14.84%	11.25%
Free Cash Flow Firm Q/Q Growth	54.93%	1,501.06%	-91.94%	281.07%	-41.45%	-9.04%	20.91%	-101.01%	5,457.85%	-49.98%	-36.80%
Invested Capital Q/Q Growth	-1.84%	-7.69%	0.35%	-23.25%	14.32%	-6.93%	-3.66%	-1.89%	-1.16%	-0.41%	-1.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	96.07%	99.54%	96.70%	87.45%	42.19%	86.68%	96.63%	83.26%	96.88%	111.09%	95.86%
EBITDA Margin	36.11%	34.94%	48.04%	49.25%	-7.40%	29.16%	47.91%	66.11%	57.74%	52.10%	48.21%
Operating Margin	-5.93%	-4.73%	1.85%	7.48%	-55.77%	-19.92%	9.44%	13.34%	15.87%	11.47%	8.16%
EBIT Margin	-5.93%	-5.70%	5.04%	8.81%	-55.86%	-9.26%	9.82%	28.88%	15.42%	12.04%	7.78%
Profit (Net Income) Margin	-167.74%	81.40%	-25.93%	-46.93%	-90.64%	-8.57%	-6.64%	4.05%	-16.00%	-20.60%	-20.26%
Tax Burden Percent	468.82%	-166.07%	86.18%	118.39%	99.68%	35.61%	71.96%	183.31%	98.49%	94.08%	99.32%
Interest Burden Percent	603.02%	859.78%	-596.70%	-449.97%	162.78%	260.11%	-93.89%	7.66%	-105.35%	-181.77%	-262.36%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.80%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-0.12%	-0.13%	0.08%	0.37%	-2.65%	-1.09%	0.54%	1.12%	1.00%	0.75%	0.55%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.94%	1.03%	-0.82%	-1.56%	-4.38%	-0.88%	0.01%	0.77%	-0.08%	-0.45%	-0.57%
Return on Net Nonoperating Assets (RNNOA)	-5.47%	1.95%	-0.81%	-1.61%	-5.41%	-0.94%	0.01%	0.86%	-0.11%	-0.57%	-0.72%
Return on Equity (ROE)	-5.59%	1.83%	-0.73%	-1.24%	-8.06%	-2.03%	0.54%	1.98%	0.89%	0.18%	-0.17%
Cash Return on Invested Capital (CROIC)	5.00%	70.11%	8.09%	35.58%	20.00%	18.91%	23.03%	-1.43%	14.26%	8.03%	5.48%
Operating Return on Assets (OROA)	-0.16%	-0.29%	0.29%	0.52%	-3.59%	-0.67%	0.74%	2.28%	1.31%	1.05%	0.69%
Return on Assets (ROA)	-4.56%	4.11%	-1.48%	-2.79%	-5.82%	-0.62%	-0.50%	0.32%	-1.36%	-1.79%	-1.78%
Return on Common Equity (ROCE)	-3.62%	1.18%	-0.47%	-0.92%	-5.91%	-1.50%	0.40%	1.73%	0.78%	0.16%	-0.15%
Return on Equity Simple (ROE_SIMPLE)	-8.24%	0.00%	-3.83%	-9.30%	-5.73%	0.00%	-8.89%	-5.98%	-1.65%	0.00%	-3.32%
Net Operating Profit after Tax (NOPAT)	-2.62	-1.66	0.81	3.36	-26	-9.34	4.45	7.94	7.58	5.47	3.87
NOPAT Margin	-4.15%	-3.31%	1.29%	5.24%	-39.04%	-13.94%	6.61%	11.77%	11.11%	8.03%	5.71%
Net Nonoperating Expense Percent (NNEP)	4.82%	-1.15%	0.90%	1.93%	1.73%	-0.21%	0.53%	0.35%	1.08%	1.21%	1.12%
Return On Investment Capital (ROIC_SIMPLE)	-0.07%	-0.05%	0.03%	0.11%	-0.81%	-0.30%	0.14%	0.27%	0.26%	0.19%	0.13%
Cost of Revenue to Revenue	3.93%	0.46%	3.30%	12.55%	57.81%	13.32%	3.37%	16.74%	3.12%	-11.09%	4.14%
SG&A Expenses to Revenue	41.63%	48.32%	34.61%	33.96%	42.40%	35.15%	35.13%	32.02%	28.03%	33.67%	31.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	102.00%	104.27%	94.85%	79.97%	97.96%	106.60%	87.18%	69.91%	81.00%	99.61%	87.70%
Earnings before Interest and Taxes (EBIT)	-3.75	-2.86	3.16	5.66	-37	-6.20	6.61	19	11	8.20	5.27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	18	30	32	-4.92	20	32	45	39	35	33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.84	1.15	1.07	1.20	1.30	1.25	1.22	1.21	1.48	1.41	1.46
Price to Tangible Book Value (P/TBV)	0.84	1.15	1.07	1.20	1.30	1.25	1.22	1.21	1.48	1.41	1.46
Price to Revenue (P/Rev)	8.45	6.65	5.68	5.99	6.12	5.48	5.21	5.11	6.11	5.70	5.79
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.31%	0.66%	0.69%	1.05%	1.32%	1.58%	1.71%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.95	1.05	1.02	1.04	1.10	1.09	1.08	1.08	1.19	1.16	1.18
Enterprise Value to Revenue (EV/Rev)	31.39	17.94	16.30	12.20	14.56	12.58	11.79	11.43	12.33	11.90	11.95
Enterprise Value to EBITDA (EV/EBITDA)	0.00	31.46	26.64	28.73	47.69	42.92	39.81	33.52	24.51	21.26	21.44
Enterprise Value to EBIT (EV/EBIT)	0.00	151.90	89.46	1,330.58	0.00	0.00	0.00	0.00	109.45	71.96	76.01
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	370.42	135.50	139.74
Enterprise Value to Operating Cash Flow (EV/OCF)	50.36	57.59	79.61	64.98	88.64	71.93	63.58	64.27	63.11	61.62	65.13
Enterprise Value to Free Cash Flow (EV/FCFF)	18.43	0.97	12.11	2.41	4.94	5.21	4.14	0.00	7.77	13.90	21.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.21	0.99	0.96	1.31	1.44	1.42	1.45	1.32	1.33	1.35	1.37
Long-Term Debt to Equity	1.15	0.99	0.96	1.31	1.39	1.42	1.45	1.32	1.05	1.07	1.37
Financial Leverage	1.11	1.90	0.99	1.03	1.24	1.06	1.06	1.11	1.32	1.27	1.25
Leverage Ratio	2.28	2.17	2.10	2.40	2.36	2.22	2.21	2.55	2.45	2.44	2.47
Compound Leverage Factor	13.73	18.69	-12.50	-10.79	3.85	5.79	-2.07	0.20	-2.58	-4.44	-6.47
Debt to Total Capital	54.70%	49.86%	49.01%	56.74%	58.96%	58.70%	59.12%	56.85%	57.13%	57.38%	57.78%
Short-Term Debt to Total Capital	2.63%	0.00%	0.00%	0.00%	1.82%	0.00%	0.00%	0.00%	12.04%	11.97%	0.00%
Long-Term Debt to Total Capital	52.07%	49.86%	49.01%	56.74%	57.14%	58.70%	59.12%	56.85%	45.09%	45.41%	57.78%
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	16.30%	17.78%	18.24%	5.96%	5.66%	5.29%	4.76%	4.99%	4.94%	4.91%	4.78%
Common Equity to Total Capital	29.00%	32.36%	32.75%	37.30%	35.37%	36.01%	36.12%	38.16%	37.93%	37.72%	37.44%
Debt to EBITDA	-1,088.72	15.65	12.95	17.84	25.73	24.29	23.60	18.44	12.36	11.02	11.02
Net Debt to EBITDA	-995.71	14.22	12.54	12.76	25.18	22.03	20.33	16.92	11.28	10.13	10.13
Long-Term Debt to EBITDA	-1,036.36	15.65	12.95	17.84	24.94	24.29	23.60	18.44	9.75	8.72	11.02
Debt to NOPAT	-48.38	-84.83	-176.13	-16,058.03	-81.60	-59.57	-67.43	-68.74	186.76	70.27	71.81
Net Debt to NOPAT	-44.25	-77.08	-170.60	-11,478.01	-79.86	-54.02	-58.07	-63.08	170.50	64.57	66.05
Long-Term Debt to NOPAT	-46.06	-84.83	-176.13	-16,058.03	-79.08	-59.57	-67.43	-68.74	147.40	55.61	71.81
Altman Z-Score	-0.20	0.00	-0.02	0.04	-0.14	-0.10	-0.07	-0.09	-0.16	-0.21	-0.07
Noncontrolling Interest Sharing Ratio	35.23%	35.20%	35.23%	26.06%	26.78%	26.28%	26.04%	12.71%	12.70%	12.17%	11.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.30	0.49	0.72	7.53	0.31	0.74	2.35	0.43	0.08	0.06	0.57
Quick Ratio	0.18	0.29	0.49	7.53	0.15	0.40	1.92	0.43	0.04	0.02	0.22
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	248	3,976	320	1,221	715	650	786	-7.97	427	214	135
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	313.73%	426.42%	0.00%	0.00%	0.00%	256.23%	163.26%	0.00%
Free Cash Flow to Firm to Interest Expense	13.19	187.39	14.55	32.35	28.87	62.23	36.56	-0.35	19.87	9.17	5.88
Operating Cash Flow to Interest Expense	0.75	0.32	0.55	0.33	0.36	1.17	0.73	0.48	0.65	0.51	0.57
Operating Cash Flow Less CapEx to Interest Expense	5.98	1.54	0.73	0.22	0.28	2.38	1.05	3.88	0.39	0.20	0.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.05	0.06	0.06	0.06	0.07	0.08	0.08	0.09	0.09	0.09
Accounts Receivable Turnover	38.78	80.77	67.74	62.87	78.65	91.94	85.19	82.61	91.59	131.69	191.19
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.03	0.06	0.06	0.07	0.07	0.08	0.08	0.09	0.09	0.09	0.10
Accounts Payable Turnover	0.04	0.07	0.09	0.21	0.71	0.90	1.05	1.21	0.48	0.17	0.18
Days Sales Outstanding (DSO)	9.41	4.52	5.39	5.81	4.64	3.97	4.28	4.42	3.99	2.77	1.91
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10,021.70	5,383.41	3,992.73	1,741.10	517.58	404.91	347.44	300.60	765.11	2,199.49	1,985.02
Cash Conversion Cycle (CCC)	-10,012.29	-5,378.89	-3,987.35	-1,735.29	-512.94	-400.94	-343.16	-296.18	-761.13	-2,196.72	-1,983.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,956	3,652	3,665	2,813	3,215	2,992	2,883	2,829	2,796	2,784	2,752
Invested Capital Turnover	0.03	0.04	0.06	0.07	0.07	0.08	0.08	0.10	0.09	0.09	0.10
Increase / (Decrease) in Invested Capital	-251	-3,977	-320	-1,218	-741	-659	-782	16	-420	-208	-131
Enterprise Value (EV)	3,761	3,827	3,746	2,931	3,545	3,275	3,125	3,067	3,328	3,225	3,244
Market Capitalization	1,012	1,418	1,305	1,438	1,489	1,427	1,380	1,371	1,651	1,545	1,573
Book Value per Share	$13.19	$13.57	$13.34	$13.06	$12.47	$12.33	$12.27	$12.23	$11.99	$11.83	$11.62
Tangible Book Value per Share	$13.19	$13.57	$13.34	$13.06	$12.47	$12.33	$12.27	$12.23	$11.99	$11.83	$11.62
Total Capital	4,144	3,819	3,715	3,209	3,244	3,158	3,135	2,967	2,937	2,915	2,886
Total Debt	2,267	1,904	1,820	1,821	1,913	1,854	1,853	1,687	1,678	1,672	1,667
Total Long-Term Debt	2,158	1,904	1,820	1,821	1,854	1,854	1,853	1,687	1,324	1,323	1,667
Net Debt	2,073	1,730	1,763	1,302	1,872	1,681	1,596	1,548	1,532	1,537	1,533
Capital Expenditures (CapEx)	-98	-26	-3.99	3.91	2.09	-13	-6.88	-76	5.44	7.26	-7.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-110	-99	-81	-49	-82	-74	-58	-45	-59	-58	-39
Debt-free Net Working Capital (DFNWC)	-46	-52	-24	348	-41	-20	81	-27	-27	-34	-17
Net Working Capital (NWC)	-155	-52	-24	348	-100	-20	81	-27	-380	-383	-17
Net Nonoperating Expense (NNE)	103	-43	17	33	34	-3.60	8.92	5.21	18	19	18
Net Nonoperating Obligations (NNO)	2,079	1,737	1,771	1,424	1,884	1,688	1,602	1,548	1,537	1,542	1,533
Total Depreciation and Amortization (D&A)	27	20	27	26	32	26	26	25	29	27	27
Debt-free, Cash-free Net Working Capital to Revenue	-91.88%	-46.54%	-35.44%	-20.32%	-33.62%	-28.55%	-21.81%	-16.82%	-21.95%	-21.45%	-14.54%
Debt-free Net Working Capital to Revenue	-38.41%	-24.21%	-10.58%	144.95%	-16.83%	-7.58%	30.39%	-9.96%	-9.93%	-12.48%	-6.40%
Net Working Capital to Revenue	-129.40%	-24.21%	-10.58%	144.95%	-41.09%	-7.58%	30.39%	-9.96%	-140.88%	-141.17%	-6.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.10)	$0.35	($0.27)	($0.30)	($0.60)	($0.05)	($0.04)	$0.03	($0.10)	($0.14)	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	91.09M	91.05M	91.23M	91.87M	92.18M	91.88M	92.28M	92.66M	92.90M	92.70M	93.06M
Adjusted Diluted Earnings per Share	($1.10)	$0.35	($0.27)	($0.30)	($0.60)	($0.05)	($0.04)	$0.03	($0.10)	($0.14)	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	100.38M	100.27M	100.53M	100.85M	100.93M	100.81M	100.97M	101.95M	101.59M	101.38M	101.69M
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	91.08M	91.16M	91.68M	92.06M	92.22M	92.23M	92.58M	92.89M	92.90M	92.95M	93.32M
Normalized Net Operating Profit after Tax (NOPAT)	-0.85	-1.66	3.19	3.36	-26	-5.19	4.45	7.94	9.41	5.47	6.11
Normalized NOPAT Margin	-1.34%	-3.31%	5.09%	5.24%	-39.04%	-7.75%	6.61%	11.77%	13.80%	8.03%	9.02%
Pre Tax Income Margin	-35.78%	-49.01%	-30.08%	-39.65%	-90.93%	-24.08%	-9.22%	2.21%	-16.24%	-21.89%	-20.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.20	-0.14	0.14	0.15	-1.50	-0.59	0.31	0.87	0.49	0.35	0.23
NOPAT to Interest Expense	-0.14	-0.08	0.04	0.09	-1.05	-0.89	0.21	0.35	0.35	0.23	0.17
EBIT Less CapEx to Interest Expense	5.03	1.09	0.32	0.05	-1.58	0.62	0.63	4.27	0.24	0.04	0.54
NOPAT Less CapEx to Interest Expense	5.09	1.15	0.22	-0.01	-1.13	0.32	0.53	3.76	0.10	-0.08	0.48
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.24%	-0.17%	-0.08%	-0.05%	-25.52%	-4.92%	-11.73%	-25.81%	-40.31%	-97.91%	-78.72%
Augmented Payout Ratio	-29.36%	-81.39%	-60.67%	-23.18%	-35.41%	-20.29%	-22.87%	-32.93%	-136.20%	-99.96%	-80.03%

Frequently Asked Questions About Veris Residential's Financials

When does Veris Residential's financial year end?

According to the most recent income statement we have on file, Veris Residential's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Veris Residential's net income changed over the last 10 years?

Veris Residential's net income appears to be on a downward trend, with a most recent value of -$26.66 million in 2024, falling from $31.39 million in 2014. The previous period was -$112.36 million in 2023. See where experts think Veris Residential is headed by visiting Veris Residential's forecast page.

What is Veris Residential's operating income?

Veris Residential's total operating income in 2024 was $34.00 million, based on the following breakdown:

Total Gross Profit: $262.92 million
Total Operating Expenses: $228.93 million

How has Veris Residential revenue changed over the last 10 years?

Over the last 10 years, Veris Residential's total revenue changed from $636.80 million in 2014 to $271.07 million in 2024, a change of -57.4%.

How much debt does Veris Residential have?

Veris Residential's total liabilities were at $1.74 billion at the end of 2024, a 10.1% decrease from 2023, and a 24.7% decrease since 2014.

How much cash does Veris Residential have?

In the past 10 years, Veris Residential's cash and equivalents has ranged from $7.25 million in 2024 to $38.10 million in 2020, and is currently $7.25 million as of their latest financial filing in 2024.

How has Veris Residential's book value per share changed over the last 10 years?

Over the last 10 years, Veris Residential's book value per share changed from 18.25 in 2014 to 11.83 in 2024, a change of -35.2%.

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This page (NYSE:VRE) was last updated on 5/7/2025 by MarketBeat.com Staff

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Veris Residential (VRE) Financials

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