$VEL Market Cap: $571.1 Million
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Financial Snapshot

Revenue
$416.8M
TTM
Gross Margin
90.05%
TTM
Net Earnings
$68.42M
TTM
Current Assets
$85.14M
Q4 2024
Current Liabilities
$495.9M
Q4 2024
Current Ratio
17.17%
Q4 2024
Total Assets
$5.527B
Q4 2024
Total Liabilities
$5.007B
Q4 2024
Book Value
$520.2M
Q4 2024
Cash
$49.90M
Q4 2024
P/E
8.347
Apr 11, 2025 EST
Free Cash Flow
$32.71M
TTM

Revenues

Revenues

Revenue YoY Change

Revenues

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Revenue $416.8M $319.0M $247.5M $189.9M $174.9M $161.9M $125.9M $98.80M $78.60M $56.20M $26.40M
YoY Change 30.65% 28.92% 30.33% 8.55% 8.03% 28.59% 27.43% 25.7% 39.86% 112.88%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Revenue $416.8M $319.0M $247.5M $189.9M $174.9M $161.9M $125.9M $98.80M $78.60M $56.20M $26.40M
Cost Of Revenue $41.78M $30.55M $12.30M $8.282M $7.800M $7.400M $6.000M $4.900M $3.700M $3.100M $1.800M
Gross Profit $375.0M $288.5M $235.2M $181.6M $167.1M $154.5M $119.9M $93.90M $75.00M $53.10M $24.60M
Gross Profit Margin 89.97% 90.42% 95.03% 95.64% 95.54% 95.43% 95.23% 95.04% 95.42% 94.48% 93.18%

Selling, General & Admin Expense

Research & Development

No data

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

No data

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operating Profits/Loss YoY Change

Operating Earnings to Gross Profit Ratio

Operating Profit Margin

Operational Expenses

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Selling, General & Admin $87.05M $54.87M $44.44M $31.73M $33.20M $24.90M $24.50M $18.40M $15.60M $9.400M $5.000M
YoY Change 58.65% 23.47% 40.06% -4.43% 33.33% 1.63% 33.15% 17.95% 65.96% 88.0%
% of Gross Profit 23.21% 19.02% 18.9% 17.47% 19.87% 16.12% 20.43% 19.6% 20.8% 17.7% 20.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $800.0K $1.100M $1.200M $1.400M $1.434M $1.190M $510.0K
YoY Change 0.0% 0.0% -27.27% -8.33% -14.29% -2.37% 20.5% 133.33%
% of Gross Profit 0.21% 0.28% 0.34% 0.61% 0.72% 0.91% 1.2% 1.27% 0.68%
Operating Expenses $8.029M $13.35M $28.58M $28.34M $35.60M $28.00M $23.40M $18.00M $16.80M $10.40M $13.00M
YoY Change -39.85% -53.28% 0.83% -20.39% 27.14% 19.66% 30.0% 7.14% 61.54% -20.0%
Operating Profit $367.0M $275.1M $206.6M $153.2M $131.5M $126.5M $96.50M $75.90M $58.20M $42.70M $11.60M
YoY Change 33.39% 33.18% 34.81% 16.53% 3.95% 31.09% 27.14% 30.41% 36.3% 268.1%
Operating Profit To Gross Profit 97.86% 95.37% 87.85% 84.39% 78.7% 81.88% 80.48% 80.83% 77.6% 80.41% 47.15%
Operating Profit To Revenue 88.05% 86.24% 83.48% 80.71% 75.19% 78.13% 76.65% 76.82% 74.05% 75.98% 43.94%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Interest Expense -$264.5M -$197.8M -$157.2M -$106.0M -$99.90M -$98.50M -$75.90M -$61.30M -$50.80M -$34.90M -$14.90M
YoY Change 33.73% 25.85% 48.3% 6.1% 1.42% 29.78% 23.82% 20.67% 45.56% 134.23%
% of Operating Profit -72.09% -71.91% -76.1% -69.17% -75.97% -77.87% -78.65% -80.76% -87.29% -81.73% -128.45%
Other Income/Expense, Net -$6.030M -$6.154M $70.00K -$3.150M -$2.700M -$2.600M -$1.400M -$600.0K -$500.0K -$700.0K -$3.000M
YoY Change -2.01% -8891.43% -102.22% 16.67% 3.85% 85.71% 133.33% 20.0% -28.57% -76.67%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Pretax Income $96.39M $71.13M $44.55M $39.79M $23.13M $25.40M $19.25M $14.00M $6.800M $7.200M -$6.300M
YoY Change 35.52% 59.65% 11.96% 72.05% -8.93% 31.94% 37.49% 105.88% -5.56% -214.29%
Income Tax $27.93M $18.83M $12.03M $10.57M $5.352M $8.106M $11.62M $0.00 $0.00 $0.00 $0.00
% Of Pretax Income 28.97% 26.48% 27.01% 26.56% 23.14% 31.92% 60.36% 0.0% 0.0% 0.0%
Net Earnings $68.42M $52.27M $32.21M $29.22M $17.78M $17.29M $7.631M $14.00M $6.800M $7.200M -$6.300M
YoY Change 30.89% 62.28% 10.22% 64.39% 2.8% 126.6% -45.49% 105.88% -5.56% -214.29%
Net Earnings / Revenue 16.42% 16.39% 13.02% 15.39% 10.16% 10.68% 6.06% 14.17% 8.65% 12.81% -23.86%
Basic Earnings Per Share $2.07 $1.60 $0.99 $0.90 -$1.55
Diluted Earnings Per Share $1.91 $1.52 $0.94 $0.86 -$1.55 $910.5K $400.0K $736.8K $357.9K $378.9K -$331.6K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

No data

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

No data

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Cash & Short-Term Investments $49.90M $40.57M $45.25M $35.97M $13.30M $21.50M $15.00M $15.40M $50.00M $4.700M $2.900M
YoY Change 23.01% -10.35% 25.81% 170.41% -38.14% 43.33% -2.6% -69.2% 963.83% 62.07%
Cash & Equivalents $49.90M $40.57M $45.25M $35.97M $13.30M $21.50M $15.00M $15.40M $50.00M $4.700M $2.900M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $35.24M $27.03M $20.46M $13.16M $11.40M $13.30M $10.10M $7.700M $6.000M $4.600M $2.300M
Other Receivables $210.0K $0.00 $176.0K $166.0K $600.0K $1.100M $900.0K $500.0K $0.00 $0.00 $0.00
Total Short-Term Assets $85.35M $67.59M $65.89M $49.29M $25.30M $35.90M $26.00M $23.60M $56.00M $9.300M $5.200M
YoY Change 26.26% 2.59% 33.67% 94.82% -29.53% 38.08% 10.17% -57.86% 502.15% 78.85%
Property, Plant & Equipment $4.151M $2.785M $5.780M $7.574M $8.900M $10.70M $5.500M $5.800M $3.900M $1.500M $700.0K
YoY Change 49.05% -51.82% -23.69% -14.9% -16.82% 94.55% -5.17% 48.72% 160.0% 114.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $35.38M $23.70M $22.34M $28.75M $13.70M $18.40M $3.400M $300.0K $1.800M $7.600M $2.700M
YoY Change 49.29% 6.08% -22.28% 109.82% -25.54% 441.18% 1033.33% -83.33% -76.32% 181.48%
Total Long-Term Assets $5.442B $4.337B $3.683B $2.763B $2.078B $2.179B $1.709B $1.348B $1.077B $903.3M $443.3M
YoY Change 25.48% 17.75% 33.29% 33.0% -4.65% 27.48% 26.78% 25.17% 19.24% 103.77%
Total Assets $5.527B $4.405B $3.749B $2.812B $2.103B $2.215B $1.735B $1.372B $1.133B $912.6M $448.5M
YoY Change
Accounts Payable $145.1M $122.0M $88.83M $88.20M $63.40M $56.10M $26.80M $22.00M $12.30M $8.600M $3.700M
YoY Change 18.98% 37.31% 0.71% 39.11% 13.01% 109.33% 21.82% 78.86% 43.02% 132.43%
Accrued Expenses $2.700M $2.700M $2.700M $4.000M
YoY Change 0.0% 0.0% -32.5%
Deferred Revenue
YoY Change
Short-Term Debt $348.1M $334.8M $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
YoY Change 3.98%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $495.9M $122.0M $91.53M $92.20M $63.40M $56.10M $26.80M $22.00M $12.30M $8.600M $3.700M
YoY Change 306.58% 33.26% -0.73% 45.42% 13.01% 109.33% 21.82% 78.86% 43.02% 132.43%
Long-Term Debt $4.511B $3.842B $3.277B $2.376B $1.730B $2.006B $1.545B $1.194B $972.5M $817.7M $365.5M
YoY Change 17.42% 17.25% 37.93% 37.34% -13.76% 29.81% 29.39% 22.8% 18.93% 123.72%
Other Long-Term Liabilities $0.00 $3.665M
YoY Change -100.0%
Total Long-Term Liabilities $4.511B $3.846B $3.277B $2.376B $1.730B $2.006B $1.545B $1.194B $972.5M $817.7M $365.5M
YoY Change 17.31% 17.36% 37.93% 37.34% -13.76% 29.81% 29.39% 22.8% 18.93% 123.72%
Total Liabilities $5.010B $3.971B $3.372B $2.471B $1.793B $2.062B $1.572B $1.216B $984.7M $826.2M $369.3M
YoY Change 26.17% 17.76% 36.45% 37.81% -13.03% 31.16% 29.26% 23.51% 19.18% 123.72%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

No data

Treasury Stock Shares

No data

Stock Issuance & Repurchase

Ownership Data

Concept 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Basic Shares Outstanding 32.65M 32.21M 31.91M 22.81M 20.09M
Diluted Shares Outstanding 35.76M 34.48M 34.13M 33.98M 20.09M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Dividends

No data

Stock Price

Market Cap: $571.12 Million

About Velocity Financial Inc

Velocity Financial, Inc. operates a real estate finance company, which originates and manages investor loans secured by residential rental and small commercial properties. The company is headquartered in Westlake Village, California and currently employs 309 full-time employees. The company went IPO on 2020-01-17. The company originates loans nationwide across its network of independent mortgage brokers. The firm's portfolio provides loans held for investment. The Company’s typical investor real estate loan is secured by a first lien on the underlying property with the added protection of a personal guarantee. Its portfolio of loans held for investment totaled $4.1 billion of unpaid principal balance (UPB) on properties in 45 states and the District of Columbia. The firm funds its portfolio primarily through a combination of committed and uncommitted secured warehouse facilities, securitized debt, corporate debt and equity.

Industry: Finance Services Peers: Greystone Housing Impact Investors LP Blue Foundry Bancorp Bridgewater Bancshares Inc FEDERAL HOME LOAN MORTGAGE CORP Home Bancorp Inc loanDepot Inc Rocket Companies Inc Sterling Bancorp Inc Waterstone Financial Inc