Veris Residential Inc Financials

VRE

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Veris Residential Inc (VRE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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

Piotroski F-Score Neutral

5/9

Veris Residential Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-2.26x

For every $1 of reported earnings, Veris Residential Inc generates $-2.26 in operating cash flow ($52.3M OCF vs -$23.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$271.1M

YoY+4.1%

5Y CAGR-5.4%

Veris Residential Inc generated $271.1M in revenue in fiscal year 2024. This represents an increase of 4.1% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$23.1M

YoY+78.4%

Veris Residential Inc reported -$23.1M in net income in fiscal year 2024. This represents an increase of 78.4% from the prior year.

EPS (Diluted)

$-0.25

YoY+79.5%

Veris Residential Inc earned $-0.25 per diluted share (EPS) in fiscal year 2024. This represents an increase of 79.5% from the prior year.

Cash & Debt

$7.3M

YoY-74.1%

5Y CAGR-22.3%

10Y CAGR-13.1%

Veris Residential Inc held $7.3M in cash against $1.7B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.23

YoY+370.0%

5Y CAGR-21.7%

10Y CAGR-11.0%

Veris Residential Inc paid $0.23 per share in dividends in fiscal year 2024. This represents an increase of 370.0% from the prior year.

Shares Outstanding

93M

YoY+0.7%

5Y CAGR+0.5%

10Y CAGR+0.4%

Veris Residential Inc had 93M shares outstanding in fiscal year 2024. This represents an increase of 0.7% from the prior year.

Gross Margin

97.0%

YoY-0.1pp

5Y CAGR+2.0pp

Veris Residential Inc's gross margin was 97.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-8.5%

YoY+32.7pp

5Y CAGR-39.8pp

Veris Residential Inc's net profit margin was -8.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 32.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Veris Residential Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

VRE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$271.1M+4.1%	$260.3M+22.0%	$213.4M+9.6%	$194.6M-36.7%	$307.5M-13.9%	$357.2M
Cost of Revenue	$8.2M+5.9%	$7.7M+9.7%	$7.0M-15.5%	$8.3M-39.4%	$13.7M-23.3%	$17.9M
Gross Profit	$262.9M+4.1%	$252.6M+22.4%	$206.3M+10.7%	$186.3M-36.6%	$293.8M-13.4%	$339.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$39.1M-12.1%	$44.4M-20.5%	$55.9M-1.9%	$57.0M-19.8%	$71.1M+18.8%	$59.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$88.0M-1.5%	$89.4M+34.6%	$66.4M+39.7%	$47.5M-41.3%	$81.0M-10.6%	$90.6M
Income Tax	$276K-43.9%	$492K	$0	$0	N/A	N/A
Net Income	-$23.1M+78.4%	-$107.3M-106.0%	-$52.1M+56.3%	-$119.0M-131.7%	-$51.4M-145.9%	$111.9M
EPS (Diluted)	$-0.25+79.5%	$-1.22-93.7%	$-0.63+54.7%	$-1.39-98.6%	$-0.70-173.7%	$0.95

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$73.4M-3.3%	$75.9M+12.1%	$67.8M-0.5%	$68.1M-0.1%	$68.2M+1.0%	$67.5M+0.2%	$67.3M+0.5%	$67.0M
Cost of Revenue	$2.4M+13.3%	$2.1M-25.1%	$2.8M+43.6%	$2.0M-8.2%	$2.1M+18.5%	$1.8M-20.9%	$2.3M+23.6%	$1.8M
Gross Profit	$71.1M-3.7%	$73.8M+13.7%	$64.9M-1.8%	$66.1M+0.1%	$66.0M+0.6%	$65.7M+0.9%	$65.1M-0.2%	$65.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.5M-11.3%	$9.6M-4.6%	$10.1M+0.3%	$10.0M+12.1%	$9.0M-0.2%	$9.0M-19.1%	$11.1M+11.0%	$10.0M
Operating Income	$29.5M-0.1%	$29.6M+124.5%	$13.2M+144.2%	-$29.8M-97.6%	-$15.1M-138.8%	$38.9M-1.8%	$39.6M+69.1%	$23.4M
Interest Expense	$22.2M-9.6%	$24.6M+7.2%	$23.0M-1.4%	$23.3M+8.3%	$21.5M-0.8%	$21.7M+0.8%	$21.5M-2.0%	$21.9M
Income Tax	$35K-62.4%	$93K+121.4%	$42K+2000.0%	$2K-94.9%	$39K-77.8%	$176K+198.3%	$59K-70.4%	$199K
Net Income	$75.2M+590.0%	$10.9M+201.9%	-$10.7M+14.0%	-$12.4M-28.4%	-$9.7M-431.7%	$2.9M+174.9%	-$3.9M+22.7%	-$5.1M
EPS (Diluted)	$0.80+566.7%	$0.12+200.0%	$-0.12+14.3%	$-0.14-40.0%	$-0.10-433.3%	$0.03+175.0%	$-0.04+20.0%	$-0.05

VRE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.0B-8.0%	$3.2B-17.3%	$3.9B-13.4%	$4.5B-12.1%	$5.1B-2.7%	$5.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$7.3M-74.1%	$28.0M+4.6%	$26.8M-15.7%	$31.8M-16.6%	$38.1M+48.9%	$25.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.4M-49.9%	$2.7M-6.1%	$2.9M+23.6%	$2.4M-74.8%	$9.4M+30.4%	$7.2M
Goodwill	N/A	N/A	N/A	$2.9M-1.5%	$2.9M0.0%	$2.9M
Total Liabilities	$1.7B-10.1%	$1.9B-3.5%	$2.0B-21.5%	$2.6B-16.0%	$3.0B-1.5%	$3.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.7B-9.8%	$1.9B-2.6%	$1.9B-20.3%	$2.4B-14.7%	$2.8B-0.2%	$2.8B
Total Equity	$1.1B-3.3%	$1.1B-7.9%	$1.2B-3.6%	$1.3B-8.4%	$1.4B-6.4%	$1.5B
Retained Earnings	-$1.5B-3.4%	-$1.4B-9.0%	-$1.3B-4.2%	-$1.2B-10.5%	-$1.1B-8.4%	-$1.0B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$2.8B-10.7%	$3.1B+5.9%	$3.0B-1.0%	$3.0B-0.8%	$3.0B-1.1%	$3.0B-5.4%	$3.2B-0.9%	$3.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.8M-23.3%	$11.4M+50.6%	$7.6M+4.8%	$7.3M-43.3%	$12.8M-30.5%	$18.4M-83.7%	$112.7M+302.4%	$28.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$918K-18.0%	$1.1M-4.3%	$1.2M-15.0%	$1.4M-32.6%	$2.0M+2.2%	$2.0M+19.6%	$1.7M-39.1%	$2.7M
Goodwill	$2.9M0.0%	$2.9M0.0%	$2.9M0.0%	$2.9M0.0%	$2.9M0.0%	$2.9M0.0%	$2.9M0.0%	$2.9M
Total Liabilities	$1.5B-20.6%	$1.9B+9.8%	$1.7B-0.4%	$1.7B-0.4%	$1.7B-0.6%	$1.8B-9.0%	$1.9B-0.3%	$1.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.2B+1.4%	$2.2B-1.1%	$2.2B+33.5%	$1.7B-47.2%	$3.2B+17.1%	$2.7B+0.2%	$2.7B+45.7%	$1.9B
Total Equity	$1.2B+6.5%	$1.1B+0.5%	$1.1B-1.7%	$1.1B-1.3%	$1.1B-1.6%	$1.1B0.0%	$1.1B-0.5%	$1.1B
Retained Earnings	-$1.4B+4.6%	-$1.5B+0.2%	-$1.5B-1.2%	-$1.5B-1.4%	-$1.4B-1.1%	-$1.4B-0.2%	-$1.4B-0.6%	-$1.4B

VRE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$52.3M+14.9%	$45.5M-31.5%	$66.5M+18.4%	$56.1M-34.3%	$85.4M-35.2%	$131.8M
Capital Expenditures	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
Investing Cash Flow	$162.1M-72.0%	$579.6M+163.4%	$220.1M-50.7%	$446.2M+1467.6%	$28.5M+106.8%	-$416.1M
Financing Cash Flow	-$244.6M+60.4%	-$618.3M-112.9%	-$290.3M+42.3%	-$503.2M-389.7%	-$102.8M-137.2%	$275.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$142K-94.7%	$2.7M+199.8%	$898K-66.7%	$2.7M-65.3%	$7.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$13.5M-43.2%	$23.8M+80.3%	$13.2M+11.2%	$11.9M-14.8%	$13.9M+28.6%	$10.8M-31.0%	$15.7M+28.1%	$12.3M
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	$365.5M+2003.0%	$17.4M+404.9%	$3.4M+215.0%	-$3.0M-232.9%	-$899K-101.2%	$72.2M-23.0%	$93.8M+10.2%	$85.1M
Financing Cash Flow	-$383.2M-1052.2%	-$33.3M-76.6%	-$18.8M-10.6%	-$17.0M+20.8%	-$21.5M+88.1%	-$180.4M-601.7%	-$25.7M+69.3%	-$83.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$308K	$0-100.0%	$148K	$0	$0	$0	$0-100.0%	$48K

VRE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	97.0%-0.1pp	97.0%+0.3pp	96.7%+1.0pp	95.7%+0.2pp	95.5%+0.6pp	95.0%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-8.5%+32.7pp	-41.2%-16.8pp	-24.4%+36.8pp	-61.2%-44.5pp	-16.7%-48.0pp	31.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	7.5%
Return on Assets	-0.8%+2.5pp	-3.3%-2.0pp	-1.3%+1.3pp	-2.6%-1.6pp	-1.0%-3.1pp	2.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.52-0.1	1.63+0.1	1.54-0.3	1.86-0.1	2.00+0.1	1.88
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	96.8%-0.5pp	97.2%+1.4pp	95.9%-1.3pp	97.1%+0.3pp	96.9%-0.5pp	97.3%+0.7pp	96.6%-0.6pp	97.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	16.3%
Net Margin	102.5%+88.1pp	14.4%+30.1pp	-15.8%+2.5pp	-18.3%-4.1pp	-14.2%-18.6pp	4.3%+10.1pp	-5.8%+1.7pp	-7.5%
Return on Equity	6.5%+5.5pp	1.0%	N/A	N/A	0.3%+0.0pp	0.3%-14.1pp	14.3%+14.2pp	0.2%
Return on Assets	2.7%+2.3pp	0.4%+0.7pp	-0.4%+0.1pp	-0.4%-0.1pp	-0.3%-0.4pp	0.1%+0.2pp	-0.1%+0.0pp	-0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.31-0.4	1.75+0.1	1.60+0.1	1.52-0.0	1.57+0.0	1.55-0.2	1.71+0.1	1.63
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 Veris Residential Inc's annual revenue?

Veris Residential Inc (VRE) reported $271.1M in total revenue for fiscal year 2024. This represents a 4.1% 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 Veris Residential Inc's revenue growing?

Veris Residential Inc (VRE) revenue grew by 4.1% year-over-year, from $260.3M to $271.1M in fiscal year 2024.

Is Veris Residential Inc profitable?

No, Veris Residential Inc (VRE) reported a net income of -$23.1M in fiscal year 2024, with a net profit margin of -8.5%.

What is Veris Residential Inc's earnings per share (EPS)?

Veris Residential Inc (VRE) reported diluted earnings per share of $-0.25 for fiscal year 2024. This represents a 79.5% 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.

How much debt does Veris Residential Inc have?

As of fiscal year 2024, Veris Residential Inc (VRE) had $7.3M in cash and equivalents against $1.7B in long-term debt.

What is Veris Residential Inc's gross margin?

Veris Residential Inc (VRE) had a gross margin of 97.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Veris Residential Inc's net profit margin?

Veris Residential Inc (VRE) had a net profit margin of -8.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Veris Residential Inc pay dividends?

Yes, Veris Residential Inc (VRE) paid $0.23 per share in dividends during fiscal year 2024.

What is Veris Residential Inc's operating cash flow?

Veris Residential Inc (VRE) generated $52.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Veris Residential Inc's total assets?

Veris Residential Inc (VRE) had $3.0B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Veris Residential Inc have outstanding?

Veris Residential Inc (VRE) had 93M shares outstanding as of fiscal year 2024.

What is Veris Residential Inc's debt-to-equity ratio?

Veris Residential Inc (VRE) had a debt-to-equity ratio of 1.52 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Veris Residential Inc's return on assets (ROA)?

Veris Residential Inc (VRE) 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 Veris Residential Inc's Piotroski F-Score?

Veris Residential Inc (VRE) has a Piotroski F-Score of 5 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Veris Residential Inc's earnings high quality?

Veris Residential Inc (VRE) has an earnings quality ratio of -2.26x, 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.