Veritex Holdings Financials
This page shows Veritex Holdings (VBTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Veritex is showing balance-sheet growth without better earning productivity, so the franchise is getting larger faster than it is getting more efficient.
By FY2024, cash climbed from$629.1M to$855.2M , creating a visibly larger liquidity cushion than the year before. But with operating cash flow at$136.4M and financing inflow at$270.5M , that extra liquidity appears to come at least as much from funding decisions as from internally generated cash, which changes how conservative the higher cash balance should be interpreted.
The core issue is asset productivity, not simple size, because in this kind of balance-sheet business returns depend on how well assets are deployed and funded, not on growth alone. Assets kept expanding, yet ROA slipped from
Profitability also looks more cost-absorbed than scale-driven, which matters because a larger revenue base should normally improve efficiency if the operating model is strengthening. FY2024 net income stayed near
Financial Health Signals
Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Veritex Holdings's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Veritex Holdings's revenue grew a modest 4.2% year-over-year to $757.2M. This slow but positive growth earns a score of 83/100.
Veritex Holdings has elevated debt relative to equity (D/E of 6.97), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Veritex Holdings generates a 6.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is down from 7.1% the prior year.
Veritex Holdings passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Veritex Holdings generates $1.27 in operating cash flow ($136.4M OCF vs $107.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Veritex Holdings generated $757.2M in revenue in fiscal year 2024. This represents an increase of 4.2% from the prior year.
Veritex Holdings reported $107.2M in net income in fiscal year 2024. This represents a decrease of 0.9% from the prior year.
Veritex Holdings earned $1.95 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 1.5% from the prior year.
Cash & Balance Sheet
Veritex Holdings held $855.2M in cash against $0 in long-term debt as of fiscal year 2024.
Margins & Returns
Veritex Holdings's net profit margin was 14.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.7 percentage points from the prior year.
Veritex Holdings's ROE was 6.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.
Capital Allocation
Veritex Holdings spent $3.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
VBTX Income Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $175.1M+0.8% | $173.7M-6.0% | $184.7M-6.1% | $196.7M+2.8% | $191.2M+3.6% | $184.6M-1.6% | $187.6M+0.3% | $187.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $35.0M-4.6% | $36.6M-2.2% | $37.4M+0.2% | $37.4M+14.0% | $32.8M-1.7% | $33.4M+9.0% | $30.6M-1.1% | $30.9M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $78.8M+0.6% | $78.3M-11.6% | $88.6M-8.3% | $96.6M+1.7% | $95.0M+3.5% | $91.8M-0.3% | $92.1M+4.9% | $87.8M |
| Income Tax | $8.5M-0.1% | $8.5M+3.7% | $8.2M+1.9% | $8.1M-1.9% | $8.2M+13.6% | $7.2M+20.5% | $6.0M-35.3% | $9.3M |
| Net Income | $30.9M+6.3% | $29.1M+16.8% | $24.9M-19.7% | $31.0M+14.0% | $27.2M+12.6% | $24.2M+590.4% | $3.5M-89.3% | $32.6M |
| EPS (Diluted) | $0.56+5.7% | $0.53 | N/A | $0.56+12.0% | $0.50+13.6% | $0.44 | N/A | $0.60 |
VBTX Balance Sheet
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.5B-0.6% | $12.6B-1.3% | $12.8B-2.1% | $13.0B+2.8% | $12.7B-0.2% | $12.7B+2.5% | $12.4B+0.4% | $12.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $770.6M-9.3% | $849.8M-0.6% | $855.2M-22.3% | $1.1B+68.9% | $651.8M-12.0% | $740.8M+17.8% | $629.1M-11.8% | $713.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $404.5M0.0% | $404.5M0.0% | $404.5M0.0% | $404.5M0.0% | $404.5M0.0% | $404.5M0.0% | $404.5M0.0% | $404.5M |
| Total Liabilities | $10.9B-0.9% | $11.0B-1.7% | $11.2B-2.3% | $11.4B+2.7% | $11.1B-0.3% | $11.2B+2.8% | $10.9B+0.1% | $10.9B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.6B+1.0% | $1.6B+2.0% | $1.6B-0.4% | $1.6B+3.8% | $1.5B+0.7% | $1.5B+0.5% | $1.5B+2.7% | $1.5B |
| Retained Earnings | $545.0M+3.6% | $526.0M+3.6% | $507.9M+2.8% | $493.9M+4.2% | $473.8M+3.6% | $457.5M+3.0% | $444.2M-1.6% | $451.5M |
VBTX Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $27.4M-37.1% | $43.6M+757.3% | -$6.6M-111.5% | $57.4M+39.1% | $41.3M-6.7% | $44.3M+635.5% | $6.0M-84.9% | $39.8M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$8.3M-106.2% | $134.7M+151.2% | $53.6M-40.7% | $90.4M+203.2% | -$87.6M+63.0% | -$237.1M-93.7% | -$122.4M-166.8% | $183.2M |
| Financing Cash Flow | -$98.3M+46.5% | -$183.7M+37.2% | -$292.6M-197.2% | $301.1M+806.9% | -$42.6M-114.0% | $304.6M+850.7% | $32.0M+118.5% | -$173.4M |
| Dividends Paid | $11.9M+9.2% | $10.9M+0.3% | $10.9M+0.2% | $10.9M-0.2% | $10.9M0.0% | $10.9M+1.2% | $10.8M-0.8% | $10.9M |
| Share Buybacks | $7.1M-25.9% | $9.5M | $0-100.0% | $40K-98.9% | $3.5M | $0 | $0 | $0 |
VBTX Financial Ratios
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 17.6%+0.9pp | 16.7%+3.3pp | 13.5%-2.3pp | 15.8%+1.5pp | 14.2%+1.1pp | 13.1%+11.2pp | 1.9%-15.6pp | 17.4% |
| Return on Equity | 1.9%+0.1pp | 1.8%+0.2pp | 1.6%-0.4pp | 1.9%+0.2pp | 1.8%+0.2pp | 1.6%+1.3pp | 0.2%-2.0pp | 2.2% |
| Return on Assets | 0.3%+0.0pp | 0.2%+0.0pp | 0.2%-0.0pp | 0.2%+0.0pp | 0.2%+0.0pp | 0.2%+0.2pp | 0.0%-0.2pp | 0.3% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 6.60-0.1 | 6.72-0.3 | 6.97-0.1 | 7.11-0.1 | 7.19-0.1 | 7.26+0.2 | 7.09-0.2 | 7.28 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Veritex Holdings's annual revenue?
Veritex Holdings (VBTX) reported $757.2M in total revenue for fiscal year 2024. This represents a 4.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Veritex Holdings's revenue growing?
Veritex Holdings (VBTX) revenue grew by 4.2% year-over-year, from $726.9M to $757.2M in fiscal year 2024.
Is Veritex Holdings profitable?
Yes, Veritex Holdings (VBTX) reported a net income of $107.2M in fiscal year 2024, with a net profit margin of 14.2%.
What is Veritex Holdings's net profit margin?
Veritex Holdings (VBTX) had a net profit margin of 14.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Veritex Holdings's return on equity (ROE)?
Veritex Holdings (VBTX) has a return on equity of 6.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Veritex Holdings's operating cash flow?
Veritex Holdings (VBTX) generated $136.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Veritex Holdings's total assets?
Veritex Holdings (VBTX) had $12.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What is Veritex Holdings's debt-to-equity ratio?
Veritex Holdings (VBTX) had a debt-to-equity ratio of 6.97 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Veritex Holdings's return on assets (ROA)?
Veritex Holdings (VBTX) had a return on assets of 0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Veritex Holdings's Piotroski F-Score?
Veritex Holdings (VBTX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Veritex Holdings's earnings high quality?
Veritex Holdings (VBTX) has an earnings quality ratio of 1.27x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Veritex Holdings?
Veritex Holdings (VBTX) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.