Velocity Financial, Inc. Financials
This page shows Velocity Financial, Inc. (VEL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Financial Health Signals
Velocity Financial, Inc. passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Velocity Financial, Inc. generates $0.55 in operating cash flow ($37.8M OCF vs $68.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Velocity Financial, Inc. generated $37.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 23.0% from the prior year.
Velocity Financial, Inc. reported $68.4M in net income in fiscal year 2024. This represents an increase of 30.9% from the prior year.
Velocity Financial, Inc. earned $1.91 per diluted share (EPS) in fiscal year 2024. This represents an increase of 25.7% from the prior year.
Velocity Financial, Inc. held $49.9M in cash against $0 in long-term debt as of fiscal year 2024.
Velocity Financial, Inc. had 34M shares outstanding in fiscal year 2024. This represents an increase of 2.1% from the prior year.
Velocity Financial, Inc.'s ROE was 13.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.2 percentage points from the prior year.
Velocity Financial, Inc. invested $289K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 60.6% from the prior year.
VEL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $95.0M+8.0% | $88.0M+8.3% | $81.2M+109.0% | $38.9M-44.5% | $70.0M+7.1% | $65.3M+7.0% | $61.1M+98.7% | $30.7M |
| Income Tax | $10.0M+28.5% | $7.8M-6.0% | $8.2M-26.6% | $11.2M+99.6% | $5.6M+9.0% | $5.2M-12.6% | $5.9M+14.8% | $5.1M |
| Net Income | $25.4M-2.4% | $26.0M+37.6% | $18.9M-8.3% | $20.6M+30.3% | $15.8M+6.9% | $14.8M-14.3% | $17.3M-0.6% | $17.4M |
| EPS (Diluted) | $0.65-5.8% | $0.69+35.3% | $0.51 | N/A | $0.44+4.8% | $0.42-14.3% | $0.49 | N/A |
VEL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.0B+7.5% | $6.5B+8.4% | $6.0B+8.0% | $5.5B+6.2% | $5.2B+6.8% | $4.9B+5.3% | $4.6B+5.1% | $4.4B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $99.0M+24.4% | $79.6M+54.0% | $51.7M+3.6% | $49.9M+13.2% | $44.1M-6.9% | $47.4M+36.0% | $34.8M-14.1% | $40.6M |
| 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 | $6.8M0.0% | $6.8M0.0% | $6.8M0.0% | $6.8M0.0% | $6.8M0.0% | $6.8M0.0% | $6.8M0.0% | $6.8M |
| Total Liabilities | $6.3B+7.6% | $5.9B+8.7% | $5.4B+8.0% | $5.0B+6.2% | $4.7B+7.2% | $4.4B+5.4% | $4.2B+5.1% | $4.0B |
| 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 | $634.3M+6.1% | $597.9M+6.2% | $563.2M+8.9% | $516.9M+6.7% | $484.6M+2.8% | $471.3M+4.1% | $452.9M+4.5% | $433.4M |
| Retained Earnings | $267.6M+10.5% | $242.2M+12.0% | $216.2M+9.6% | $197.3M+11.6% | $176.7M+9.8% | $160.9M+10.1% | $146.2M+13.4% | $128.9M |
VEL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.5M+49.5% | $7.7M+116.7% | $3.5M-89.4% | $33.3M+289.4% | -$17.6M-253.2% | $11.5M+8.4% | $10.6M-59.6% | $26.2M |
| Capital Expenditures | $66K-15.4% | $78K-2.5% | $80K-19.2% | $99K+52.3% | $65K-22.6% | $84K+104.9% | $41K-62.0% | $108K |
| Free Cash Flow | $11.4M+50.1% | $7.6M+119.4% | $3.5M-89.6% | $33.2M+288.1% | -$17.6M-254.9% | $11.4M+8.0% | $10.5M-59.5% | $26.1M |
| Investing Cash Flow | -$429.1M+2.7% | -$441.2M-9.9% | -$401.4M-12.7% | -$356.1M-27.3% | -$279.7M-42.1% | -$196.8M+7.3% | -$212.4M+5.1% | -$223.9M |
| Financing Cash Flow | $438.2M-3.9% | $456.3M+13.6% | $401.5M+23.0% | $326.4M+14.6% | $284.9M+38.3% | $206.0M+3.5% | $199.0M-6.4% | $212.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $179K | N/A | N/A | N/A | $0-100.0% | $266K-79.3% | $1.3M+5250.0% | $24K |
VEL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | 4.0%-0.3pp | 4.3%+1.0pp | 3.4%-0.6pp | 4.0%+0.7pp | 3.3%+0.1pp | 3.1%-0.7pp | 3.8%-0.2pp | 4.0% |
| Return on Assets | 0.4%-0.0pp | 0.4%+0.1pp | 0.3%-0.1pp | 0.4%+0.1pp | 0.3%0.0pp | 0.3%-0.1pp | 0.4%-0.0pp | 0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 9.97+0.1 | 9.83+0.2 | 9.60-0.1 | 9.69-0.0 | 9.73+0.4 | 9.33+0.1 | 9.21+0.1 | 9.15 |
| 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
Is Velocity Financial, Inc. profitable?
Yes, Velocity Financial, Inc. (VEL) reported a net income of $68.4M in fiscal year 2024.
What is Velocity Financial, Inc.'s earnings per share (EPS)?
Velocity Financial, Inc. (VEL) reported diluted earnings per share of $1.91 for fiscal year 2024. This represents a 25.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Velocity Financial, Inc.'s return on equity (ROE)?
Velocity Financial, Inc. (VEL) has a return on equity of 13.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Velocity Financial, Inc.'s free cash flow?
Velocity Financial, Inc. (VEL) generated $37.5M in free cash flow during fiscal year 2024. This represents a -23.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Velocity Financial, Inc.'s operating cash flow?
Velocity Financial, Inc. (VEL) generated $37.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Velocity Financial, Inc.'s total assets?
Velocity Financial, Inc. (VEL) had $5.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Velocity Financial, Inc.'s capital expenditures?
Velocity Financial, Inc. (VEL) invested $289K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Velocity Financial, Inc. have outstanding?
Velocity Financial, Inc. (VEL) had 34M shares outstanding as of fiscal year 2024.
What is Velocity Financial, Inc.'s debt-to-equity ratio?
Velocity Financial, Inc. (VEL) had a debt-to-equity ratio of 9.69 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Velocity Financial, Inc.'s return on assets (ROA)?
Velocity Financial, Inc. (VEL) had a return on assets of 1.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Velocity Financial, Inc.'s Piotroski F-Score?
Velocity Financial, Inc. (VEL) has a Piotroski F-Score of 3 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Velocity Financial, Inc.'s earnings high quality?
Velocity Financial, Inc. (VEL) has an earnings quality ratio of 0.55x, considered mixed 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.