Vera Therapeutics, Inc.
VERA Nasdaq Pharmaceutical Preparations Financials FY2020โFY2025
Last close ยท Oct 23, 2026
$27.99
3.6%
Revenue
Total sales reported in the income statement.
โ
vs prior year
Operating margin
Operating income as a share of revenue.
โ
Net income
Profit after all expenses, interest and tax.
โ$300M
Free cash flow
Cash from operations minus capital spending.
โ$242M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$5.86 EPS (TTM)
What Vera Therapeutics, Inc. does
No business description yet.
- Legal name
- Vera Therapeutics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Feb 26, 2026
- Accession ยท CIK
- 0001193125-26-077442
0001831828
Revenue and margins
Vera Therapeutics, Inc. had โ of revenue in fiscal 2025.
FY20
Revenue โ
FY21
Revenue โ
FY22
Revenue โ
FY23
Revenue โ
FY24
Revenue โ
FY25
Revenue โ
FY20
Gross โ
Operating โ
Net โ
FCF โ
FY21
Gross โ
Operating โ
Net โ
FCF โ
FY22
Gross โ
Operating โ
Net โ
FCF โ
FY23
Gross โ
Operating โ
Net โ
FCF โ
FY24
Gross โ
Operating โ
Net โ
FCF โ
FY25
Gross โ
Operating โ
Net โ
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income โ$53.4M
FY21
Net income โ$32.6M
FY22
Net income โ$89.1M
FY23
Net income โ$96.0M
FY24
Net income โ$152M
FY25
Net income โ$300M
Q3 '23
Net income โ$20.1M
Q4 '23
Net income โ$25.7M
Q1 '24
Net income โ$28.4M
Q2 '24
Net income โ$33.7M
Q3 '24
Net income โ$46.6M
Q4 '24
Net income โ$43.4M
Q1 '25
Net income โ$51.7M
Q2 '25
Net income โ$76.5M
Q3 '25
Net income โ$80.3M
Q4 '25
Net income โ$91.1M
Q1 '26
Net income โ$121M
Q2 '26
Net income โ$109M
FY20
Diluted EPS โ$166.93
FY21
Diluted EPS โ$2.43
FY22
Diluted EPS โ$3.35
FY23
Diluted EPS โ$2.25
FY24
Diluted EPS โ$2.75
FY25
Diluted EPS โ$4.66
Q3 '23
Diluted EPS โ$0.45
Q4 '23
Diluted EPS โ$0.54
Q1 '24
Diluted EPS โ$0.56
Q2 '24
Diluted EPS โ$0.62
Q3 '24
Diluted EPS โ$0.85
Q4 '24
Diluted EPS โ$0.72
Q1 '25
Diluted EPS โ$0.81
Q2 '25
Diluted EPS โ$1.20
Q3 '25
Diluted EPS โ$1.26
Q4 '25
Diluted EPS โ$1.39
Q1 '26
Diluted EPS โ$1.69
Q2 '26
Diluted EPS โ$1.52
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital โ
Return on equity โ
Return on assets โ97.9%
FY21
Return on capital โ
Return on equity โ
Return on assets โ47.2%
FY22
Return on capital โ
Return on equity โ121.6%
Return on assets โ82.8%
FY23
Return on capital โ
Return on equity โ107.5%
Return on assets โ62.5%
FY24
Return on capital โ
Return on equity โ44.8%
Return on assets โ36.6%
FY25
Return on capital โ
Return on equity โ50.7%
Return on assets โ43.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$242M in fiscal 2025, โ of revenue. Cash from operations minus capital spending.
FY20
Free cash flow โ$34.9M
FY21
Free cash flow โ$23.7M
FY22
Free cash flow โ$67.7M
FY23
Free cash flow โ$92.2M
FY24
Free cash flow โ$136M
FY25
Free cash flow โ$242M
Q3 '23
Free cash flow โ$23.0M
Q4 '23
Free cash flow โ$25.2M
Q1 '24
Free cash flow โ$33.8M
Q2 '24
Free cash flow โ$24.9M
Q3 '24
Free cash flow โ$37.1M
Q4 '24
Free cash flow โ$39.8M
Q1 '25
Free cash flow โ$54.6M
Q2 '25
Free cash flow โ$55.0M
Q3 '25
Free cash flow โ$62.0M
Q4 '25
Free cash flow โ$70.1M
Q1 '26
Free cash flow โ$107M
Q2 '26
Free cash flow โ$100M
FY20
Cash from operations โ$34.8M
Capital spending $0.1M
FY21
Cash from operations โ$23.7M
Capital spending $0.0M
FY22
Cash from operations โ$67.6M
Capital spending $0.1M
FY23
Cash from operations โ$92.2M
Capital spending $0.1M
FY24
Cash from operations โ$135M
Capital spending $1.0M
FY25
Cash from operations โ$241M
Capital spending $0.6M
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$23.0M
Capital spending $0.0M
Q4 '23
Cash from operations โ$25.1M
Capital spending $0.1M
Q1 '24
Cash from operations โ$33.8M
Capital spending $0.0M
Q2 '24
Cash from operations โ$24.8M
Capital spending $0.1M
Q3 '24
Cash from operations โ$36.9M
Capital spending $0.2M
Q4 '24
Cash from operations โ$39.2M
Capital spending $0.6M
Q1 '25
Cash from operations โ$54.4M
Capital spending $0.2M
Q2 '25
Cash from operations โ$54.8M
Capital spending $0.2M
Q3 '25
Cash from operations โ$61.9M
Capital spending $0.1M
Q4 '25
Cash from operations โ$70.0M
Capital spending $0.1M
Q1 '26
Cash from operations โ$107M
Capital spending $0.0M
Q2 '26
Cash from operations โ$100M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Vera Therapeutics, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 16.1%.
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks $0.0M
FY24
Dividends โ
Buybacks $0.0M
FY25
Dividends โ
Buybacks $0.0M
Dividends
Buybacks
Q3 '23
Dividends โ
Buybacks โ
Q4 '23
Dividends โ
Buybacks $0.0M
Q1 '24
Dividends โ
Buybacks โ
Q2 '24
Dividends โ
Buybacks โ
Q3 '24
Dividends โ
Buybacks โ
Q4 '24
Dividends โ
Buybacks $0.0M
Q1 '25
Dividends โ
Buybacks โ
Q2 '25
Dividends โ
Buybacks โ
Q3 '25
Dividends โ
Buybacks โ
Q4 '25
Dividends โ
Buybacks $0.0M
Q1 '26
Dividends โ
Buybacks โ
Q2 '26
Dividends โ
Buybacks โ
Dividends
Buybacks
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.06B
FY25
Diluted shares 0.06B
Balance sheet
Cash, debt and the ratios that show how comfortably Vera Therapeutics, Inc. can carry it.
FY20
Cash $53.7M
Debt $0.0M
FY21
Cash $79.7M
Debt $4.9M
FY22
Cash $115M
Debt $24.8M
FY23
Cash $161M
Debt $49.9M
FY24
Cash $641M
Debt $50.7M
FY25
Cash $715M
Debt $74.8M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $79.7M | $115M | $161M | $641M | $715M |
| Debt incl. finance leases | $4.9M | $24.8M | $49.9M | $50.7M | $74.8M |
| Debt / equity | 0.1x | 0.3x | 0.5x | 0.1x | 0.1x |
| Interest coverage | โ1,720.1x | โ91.6x | โ26.9x | โ21.9x | โ41.9x |
| Current ratio | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quick ratio | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Total assets | $83.7M | $131M | $176M | $656M | $735M |
| Total liabilities | $14.2M | $54.5M | $73.9M | $78.5M | $130M |
| Shareholders' equity | $69.6M | $76.9M | $102M | $577M | $605M |
| Net debt (โ = net cash) | โ$74.8M | โ$89.8M | โ$111M | โ$590M | โ$640M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 2 / 7 | 1 / 7 | 3 / 7 | 4 / 7 | 1 / 7 |
| Accruals ratio | โ34.1% | โ12.9% | โ19.9% | โ2.5% | โ4.2% | โ8.4% |
| Altman Z'' | โ27.35 | 3.44 | โ3.46 | โ2.60 | 9.97 | 4.64 |
6 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Research and development | $45.2M | $22.5M | $69.0M | $78.2M | $126M | $215M |
| Operating income | โ$52.2M | โ$34.4M | โ$90.9M | โ$102M | โ$167M | โ$315M |
| Interest expense | $0.2M | $0.0M | $1.0M | $3.8M | $7.6M | $7.5M |
| Pretax income | โ$53.4M | โ$32.6M | โ$89.1M | โ$96.0M | โ$152M | โ$300M |
| Income tax | โ$0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | โ$53.4M | โ$32.6M | โ$89.1M | โ$96.0M | โ$152M | โ$300M |
| Diluted EPS | โ$166.93 | โ$2.43 | โ$3.35 | โ$2.25 | โ$2.75 | โ$4.66 |
| Diluted shares | 0.00B | 0.01B | 0.03B | 0.04B | 0.06B | 0.06B |
| Cash flow | ||||||
| Cash from operations | โ$34.8M | โ$23.7M | โ$67.6M | โ$92.2M | โ$135M | โ$241M |
| Capital expenditure | $0.1M | $0.0M | $0.1M | $0.1M | $1.0M | $0.6M |
| Free cash flow | โ$34.9M | โ$23.7M | โ$67.7M | โ$92.2M | โ$136M | โ$242M |
| Depreciation and amortization | $0.3M | $0.2M | โ$0.8M | $0.0M | $0.1M | $0.5M |
| Stock-based compensation | $0.3M | $3.0M | $8.9M | $11.5M | $20.8M | $37.9M |
| Share buybacks | โ | โ | โ | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | โ | โ | โ | $0.0M | $0.0M | $0.0M |
| Balance sheet | ||||||
| Cash and short-term investments | $53.7M | $79.7M | $115M | $161M | $641M | $715M |
| Total debt | $0.0M | $4.9M | $24.8M | $49.9M | $50.7M | $74.8M |
| Current assets | $54.3M | $82.5M | $126M | $172M | $651M | $729M |
| Current liabilities | $2.4M | $7.7M | $25.6M | $22.3M | $25.4M | $53.5M |
| Property and equipment, net | โ | $0.0M | $0.1M | $0.1M | $1.0M | $1.4M |
| Total assets | $54.6M | $83.7M | $131M | $176M | $656M | $735M |
| Total liabilities | $4.3M | $14.2M | $54.5M | $73.9M | $78.5M | $130M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | โ |
| Shareholders' equity | โ$89.3M | $69.6M | $76.9M | $102M | $577M | $605M |
| Returns | ||||||
| Return on capital employed | โ100.2% | โ45.2% | โ85.9% | โ66.6% | โ26.5% | โ46.3% |
| Return on equity | โ | โ | โ121.6% | โ107.5% | โ44.8% | โ50.7% |
| Return on assets | โ97.9% | โ47.2% | โ82.8% | โ62.5% | โ36.6% | โ43.1% |
| Return on tangible equity | โ | โ46.9% | โ115.8% | โ94.4% | โ26.4% | โ49.6% |
| Growth | ||||||
| Share count change | โ | 4,098.7% | 97.8% | 60.7% | 29.5% | 16.1% |
| Financial health | ||||||
| Debt / equity | โ | 0.1x | 0.3x | 0.5x | 0.1x | 0.1x |
| Interest coverage | โ314.7x | โ1,720.1x | โ91.6x | โ26.9x | โ21.9x | โ41.9x |
| Current ratio | 22.6x | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quick ratio | 22.6x | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quality scores | ||||||
| Piotroski F-score | โ | 2.0 | 1.0 | 3.0 | 4.0 | 1.0 |
| Altman Z'' | โ27.4 | 3.4 | โ3.5 | โ2.6 | 10.0 | 4.6 |
| Accruals ratio | โ34.1% | โ12.9% | โ19.9% | โ2.5% | โ4.2% | โ8.4% |
Source: SEC EDGAR XBRL filings (CIK 0001831828). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.