VEL NYSE Finance Services Financials FY2018βFY2025
Velocity Financial, Inc. had $186M of revenue in fiscal 2025, up 36.8% on the year before. Over five years, revenue changed +22.5% a year on average.
Last close Β· Oct 23, 2026
$15.30
0.6%Hi! I read Velocity Financial, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+36.8%
Yes. Sales grew 36.8% last year.
Does it make a profit?
56.5%
Yes. It keeps 56.5% of every sale as profit.
Does profit turn into cash?
9.6%
Partly. 9.6% of sales ends up as free cash.
How is the share priced?
5.5x
One share costs 5.5 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Velocity Financial, Inc. had $186M of revenue in fiscal 2025, up 36.8% on the year before. Over five years, revenue changed +22.5% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Velocity Financial, Inc. made $105M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $17.9M in fiscal 2025, 9.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Velocity Financial, Inc. returned $7.3M to shareholders in fiscal 2025, 41% of free cash flow. The diluted share count rose 6.8%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $1.4M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$1.4M
4 insiders
Of sales under plans
91%
$1.2M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 2,000 | $18.03 | $0.0M | Form 4 |
| Sep 1, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 1,600 | $18.00 | $0.0M | Form 4 |
| Aug 11, 2026 | Fiona TamChief Accounting Officer | Sold plan | 1,232 | $19.00 | $0.0M | Form 4 |
| Aug 11, 2026 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 4,330 | $19.06 | $0.1M | Form 4 |
| Aug 10, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 2,000 | $18.16 | $0.0M | Form 4 |
| Aug 6, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 1,600 | $18.00 | $0.0M | Form 4 |
| Aug 6, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 400 | $18.00 | $0.0M | Form 4 |
| Jul 28, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 400 | $18.00 | $0.0M | Form 4 |
| Jul 7, 2026 | Fiona TamChief Accounting Officer | Sold plan | 68 | $19.00 | $0.0M | Form 4 |
| Jul 7, 2026 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 2,165 | $19.00 | $0.0M | Form 4 |
| Jul 1, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 1,600 | $18.57 | $0.0M | Form 4 |
| Jun 26, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $18.07 | $0.0M | Form 4 |
| May 1, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $19.30 | $0.0M | Form 4 |
| Apr 17, 2026 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 2,130 | $20.00 | $0.0M | Form 4 |
| Apr 1, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $18.13 | $0.0M | Form 4 |
| Mar 31, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 814 | $18.22 | $0.0M | Form 4 |
| Mar 30, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 14,026 | $18.03 | $0.3M | Form 4 |
| Mar 17, 2026 | Roland Thomas KellyChief Legal Officer and GC | Sold plan | 5,160 | $18.06 | $0.1M | Form 4 |
| Mar 2, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $18.32 | $0.0M | Form 4 |
| Feb 2, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $20.53 | $0.0M | Form 4 |
| Feb 2, 2026 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 1,772 | $20.33 | $0.0M | Form 4 |
| Jan 26, 2026 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 1,770 | $20.00 | $0.0M | Form 4 |
| Jan 15, 2026 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,573 | $19.51 | $0.0M | Form 4 |
| Dec 31, 2025 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 3,049 | $20.13 | $0.1M | Form 4 |
| Dec 16, 2025 | Jeffrey T. TaylorExecutive VP, Capital Markets | Sold plan | 7,571 | $20.03 | $0.2M | Form 4 |
| Dec 2, 2025 | Roland Thomas KellyChief Legal Officer and GC | Sold | 6,655 | $19.38 | $0.1M | Form 4 |
| Dec 1, 2025 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,572 | $19.34 | $0.0M | Form 4 |
| Nov 3, 2025 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,572 | $18.50 | $0.0M | Form 4 |
| Oct 1, 2025 | Mark R SzczepaniakChief Financial Officer | Sold plan | 1,572 | $18.05 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Velocity Financial, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $36.0M | $45.2M | $40.6M | $49.9M | $92.1M |
| Total assets | $2.8B | $3.7B | $4.4B | $5.5B | $7.4B |
| Total liabilities | $2.5B | $3.4B | $4.0B | $5.0B | $6.7B |
| Shareholders' equity | $341M | $377M | $433M | $517M | $673M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 3 | β / 5 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 |
| Accruals ratio | β | 5.5% | β1.7% | β1.2% | β0.5% | 0.1% | 0.6% | 1.3% |
| Altman Z'' | β | β | β | β | β | β | β | β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $48.8M | $59.0M | $67.4M | $76.0M | $83.1M | $108M | $136M | $186M |
| Net interest income | $48.8M | $59.0M | $67.4M | $76.0M | $83.1M | $108M | $136M | $186M |
| Noninterest expense | $32.2M | $35.1M | $45.6M | $46.3M | $61.8M | $101M | $140M | $197M |
| Interest expense | β | $98.5M | $99.9M | $106M | $157M | $203M | $271M | $365M |
| Pretax income | $19.2M | $25.4M | $23.1M | $39.8M | $44.6M | $71.1M | $96.4M | $146M |
| Income tax | $11.6M | $8.1M | $5.4M | $10.6M | $12.0M | $18.8M | $27.9M | $41.3M |
| Net income | $7.6M | $17.3M | $17.8M | $29.2M | $32.2M | $52.3M | $68.4M | $105M |
| Net income to common | β | β | β$31.2M | $29.2M | $32.2M | $52.3M | $68.4M | $105M |
| Diluted EPS | β | β | β$1.55 | $0.86 | $0.94 | $1.52 | $1.91 | $2.75 |
| Diluted shares | β | β | 0.02B | 0.03B | 0.03B | 0.03B | 0.04B | 0.04B |
| Cash flow | ||||||||
| Cash from operations | β$72.5M | β$105M | $54.9M | $57.6M | $48.7M | $48.8M | $37.8M | $18.2M |
| Capital expenditure | $1.3M | $0.9M | $0.7M | $0.1M | $0.3M | $0.2M | $0.3M | $0.3M |
| Free cash flow | β$73.8M | β$106M | $54.2M | $57.5M | $48.3M | $48.7M | $37.5M | $17.9M |
| Depreciation and amortization | $1.4M | $1.4M | $1.2M | $1.1M | $0.8M | $0.8M | $0.8M | $0.5M |
| Stock-based compensation | β | β | $1.0M | $2.2M | $3.3M | $4.1M | $6.2M | $8.3M |
| Acquisitions | β | β | β | $10.8M | β | β | β | β |
| Share buybacks | β | β | β | β | $0.5M | $0.9M | $1.6M | $7.3M |
| Dividends and buybacks | β | β | β | β | $0.5M | $0.9M | $1.6M | $7.3M |
| Balance sheet | ||||||||
| Cash and short-term investments | $15.0M | $21.5M | $13.3M | $36.0M | $45.2M | $40.6M | $49.9M | $92.1M |
| Loans, net | β | $2.1B | $2.0B | $2.6B | $3.5B | $4.2B | β | β |
| Property and equipment, net | β | $4.7M | $4.1M | $3.8M | $3.4M | $2.8M | $1.7M | $1.4M |
| Goodwill | β | β | β | $6.8M | $6.8M | $6.8M | $6.8M | $6.8M |
| Total assets | β | $2.2B | $2.1B | $2.8B | $3.7B | $4.4B | $5.5B | $7.4B |
| Total liabilities | β | $2.1B | $1.8B | $2.5B | $3.4B | $4.0B | $5.0B | $6.7B |
| Shareholders' equity | $137M | $153M | $220M | $341M | $377M | $433M | $517M | $673M |
| Margins | ||||||||
| Net margin | 15.6% | 29.3% | 26.4% | 38.5% | 38.7% | 48.5% | 50.4% | 56.5% |
| FCF margin | β151.2% | β180.0% | 80.3% | 75.7% | 58.1% | 45.2% | 27.6% | 9.6% |
| Net interest share of revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Efficiency ratio | 65.9% | 59.5% | 67.6% | 60.9% | 74.3% | 93.4% | 102.8% | 106.2% |
| Returns | ||||||||
| Return on equity | 5.6% | 11.9% | 9.5% | 10.4% | 9.0% | 12.9% | 14.4% | 17.7% |
| Return on assets | β | 0.8% | 0.8% | 1.2% | 1.0% | 1.3% | 1.4% | 1.6% |
| Return on tangible equity | 5.6% | 11.3% | β14.2% | 8.7% | 8.7% | 12.3% | 13.4% | 15.8% |
| Growth | ||||||||
| Revenue growth | β | 20.9% | 14.3% | 12.6% | 9.4% | 29.6% | 26.0% | 36.8% |
| Net income growth | β | 126.6% | 2.8% | 64.4% | 10.2% | 62.3% | 30.9% | 53.5% |
| EPS growth | β | β | β | β | 9.3% | 61.7% | 25.7% | 44.0% |
| FCF growth | β | β | β | 6.1% | β15.9% | 0.6% | β23.0% | β52.3% |
| Share count change | β | β | β | 69.2% | 0.4% | 1.0% | 3.7% | 6.8% |
| Capital allocation | ||||||||
| Capex / revenue | 2.7% | 1.5% | 1.1% | 0.2% | 0.4% | 0.2% | 0.2% | 0.2% |
| Stock comp / revenue | β | β | 1.4% | 2.8% | 4.0% | 3.8% | 4.5% | 4.5% |
| Payouts / FCF | β | β | β | β | 0.9% | 1.8% | 4.1% | 41.0% |
| Quality scores | ||||||||
| Accruals ratio | β | 5.5% | β1.7% | β1.2% | β0.5% | 0.1% | 0.6% | 1.3% |
Source: SEC EDGAR XBRL filings (CIK 0001692376). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
