Velocity Financial, Inc. (VEL)
Operating across the United States, Velocity Financial, Inc. functions as a specialized real estate finance firm. Its core business involves generating and overseeing investment loans, which are typically secured by 1-4 unit residential rental properties and smaller commercial real estate assets. The company delivers its financial offerings to clients via an extensive network of independent mortgage brokers. Velocity Financial, Inc. was established in 2004 and is headquartered in Westlake Village, California.
Sector: Finance Services
Industry: Financial - Mortgages
Velocity Financial, Inc.
NYSE:VELFinancial Services · Financial - Mortgages
+0.59%$15.30
AH Close$15.30+0.00%vs close
AH Close$15.30+0.00%vs close
Mkt Cap$604.07M
Float26.23M
O/S39.48M
Inst Own99.4%
SI6.2%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$714.45M
Net Income$105.05M
Total Assets$7.38B
Free Cash Flow$17.88M
Debt & Equity
Debt 91%
Equity 9%
Total Debt$6.54B
Total Equity$672.53M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in VEL's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$7.38B
Liabilities$6.71B
Accounts Receivable$49.68M
Accounts Payable$168.31M
Inventory$0
PP&E (Net)$4.24M
Goodwill$6.78M
Intangible Assets$12.96M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $714.45M | $482.78M | $131.72M | $248.38M | $181.31M | $165.84M | $152.78M | $121.52M | $94.93M | $75.47M | $56.5M | $26.49M |
| YoY Growth | 48.0% | 266.5% | -47.0% | 37.0% | 9.3% | 8.5% | 25.7% | 28.0% | 25.8% | 33.6% | 113.3% | - |
| Cost of Revenue | $33.41M | $272.21M | $0 | $158.35M | $105.7M | $104.94M | $99.66M | $76.12M | $61.71M | $52.28M | $3.14M | $1.79M |
| Gross Profit | $681.04M | $210.56M | $131.72M | $90.03M | $75.61M | $60.9M | $53.12M | $45.4M | $33.22M | $23.19M | $53.36M | $24.7M |
| Gross Margin | 95.3% | 43.6% | 100.0% | 36.2% | 41.7% | 36.7% | 34.8% | 37.4% | 35.0% | 30.7% | 94.4% | 93.2% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $6.1M | $74.55M | $52.99M | $35.93M | $24.04M | $25.23M | $22.8M | $21.45M | $16.73M | $12.99M | $10.24M | $7.45M |
| Other | $163.65M | $39.63M | $1.88M | $9.55M | $11.77M | $12.54M | $4.92M | $4.7M | $2.5M | $3.4M | $0 | $0 |
| Total Operating Expenses | $169.75M | $114.17M | $54.87M | $45.48M | $35.81M | $37.77M | $27.73M | $26.15M | $19.23M | $16.39M | $10.24M | $7.45M |
| Operating Income (EBIT) | $511.29M | $96.39M | $76.85M | $44.55M | $39.79M | $23.13M | $25.4M | $19.25M | $13.99M | $6.8M | $42.74M | $17.25M |
| Operating Margin | 71.6% | 20.0% | 58.3% | 17.9% | 21.9% | 13.9% | 16.6% | 15.8% | 14.7% | 9.0% | 75.6% | 65.1% |
| Interest Expense | $365.05M | $247.22M | $203.02M | $157.19M | $106M | $99.88M | $98.52M | $75.92M | $61.29M | $50.83M | $34.88M | $0 |
| Interest Income | $550.83M | $406.84M | $315.97M | $240.34M | $181.97M | $167.32M | $157.53M | $124.72M | $97.83M | $78.42M | $0 | $0 |
| Other Income (Expense) | -$365.05M | $0 | -$5.72M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$35.59M | -$23.55M |
| Income Before Tax (EBT) | $146.24M | $96.39M | $71.13M | $44.55M | $39.79M | $23.13M | $25.4M | $19.25M | $13.99M | $6.8M | $7.15M | -$6.3M |
| Income Tax Expense | $41.26M | $27.93M | $18.83M | $12.03M | $10.57M | $5.35M | $8.11M | $11.62M | $0 | $0 | $0 | $0 |
| Net Income | $105.05M | $68.42M | $52.27M | $32.21M | $29.22M | $17.78M | $17.29M | $7.63M | $13.99M | $6.8M | $7.15M | -$6.3M |
| Net Income Margin | 14.7% | 14.2% | 39.7% | 13.0% | 16.1% | 10.7% | 11.3% | 6.3% | 14.7% | 9.0% | 12.7% | -23.8% |
| Supplementary Data | ||||||||||||
| EPS | 2.81 | 2.07 | 1.60 | 0.99 | 0.90 | -1.55 | 0.86 | 0.65 | 1.19 | 0.58 | 0.36 | -0.31 |
| Diluted EPS | 2.75 | 1.91 | 1.52 | 0.93 | 0.86 | -1.55 | 0.86 | 0.90 | 1.19 | 0.58 | 0.36 | -0.31 |
| Weighted Average OS | 36.85M | 32.65M | 32.21M | 31.91M | 22.81M | 20.09M | 113.59M | 11.75M | 11.75M | 11.75M | 20.09M | 20.09M |
| EBITDA | $511.29M | $98.39M | $0 | $46.67M | $42.2M | $25.57M | $27.87M | $20.68M | $15.18M | $7.31M | $42.74M | $17.25M |
| EBITDA Margin | 71.6% | 20.4% | - | 18.8% | 23.3% | 15.4% | 18.2% | 17.0% | 16.0% | 9.7% | 75.6% | 65.1% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $92.1M | $50.11M | $40.76M | $45.42M | $36.13M | $13.91M | $22.55M | $15.01M | $15.92M | $49.98M | $12.29M | $5.64M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $92.1M | $50.11M | $40.76M | $45.42M | $36.13M | $13.91M | $22.55M | $15.01M | $15.92M | $49.98M | $12.29M | $5.64M |
| Accounts Receivable | $49.68M | $160.09M | $120.87M | $95.48M | $89.3M | $86.5M | $67.73M | $52.7M | $34.27M | $0 | $18.89M | $7.11M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $157.13M | $0 | $0 | $0 | -$1.63M | $0 | $0 | $0 | $0 | $0 | -$31.18M | -$12.74M |
| Total Current Assets | $301.62M | $212.34M | $163.65M | $142.75M | $125.43M | $101.68M | $91.86M | $68.94M | $51.13M | $49.98M | $31.93M | $0 |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $4.24M | $4.15M | $5.33M | $5.78M | $7.57M | $8.93M | $10.69M | $5.54M | $5.77M | $3.88M | $1.47M | $690K |
| Goodwill | $6.78M | $6.78M | $6.78M | $6.78M | $6.78M | $0 | $0 | $4.32M | $0 | $0 | $0 | $0 |
| Intangible Assets | $12.96M | $13.71M | $8.58M | $9.24M | $7.15M | $0 | $0 | $4.78M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $6.76B | $5.19B | $4.15B | $3.55B | $2.62B | $1.96B | $2.08B | $0 | $1.31B | $0 | $0 | $0 |
| Deferred Tax Assets | $22.71M | $13.61M | $2.34M | $5.03M | $0 | $6.65M | $8.28M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $275.01M | $89.95M | $66.29M | $30.97M | -$2.62B | $22.79M | $23.16M | -$14.64M | $5.13M | $1.08B | -$1.47M | -$690K |
| Total Long-Term Assets | $7.08B | $5.32B | $4.24B | $3.61B | $21.5M | $2B | $2.12B | $1.73B | $1.32B | $1.08B | $880.72M | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $2.67B | $0 | $0 | -$63.03M | $0 | $0 | $0 | $448.53M |
| Total Assets | $7.38B | $5.53B | $4.4B | $3.75B | $2.81B | $2.1B | $2.21B | $1.74B | $1.37B | $1.13B | $912.65M | $448.53M |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $168.31M | $147.81M | $121.97M | $91.53M | $92.19M | $63.36M | $56.15M | $26.8M | $22.03M | $0 | $0 | $0 |
| Short-Term Debt | $308.51M | $348.08M | $334.75M | $330.81M | $301.07M | $75.92M | $421.55M | $0 | $85.3M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$26.8M | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $476.82M | $495.9M | $456.72M | $422.34M | $393.26M | $139.28M | $477.69M | $26.8M | $107.33M | $1.96B | $0 | $0 |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $6.23B | $4.51B | $3.51B | $2.95B | $2.07B | $1.65B | $1.58B | $1.55B | $1.11B | $972.48M | $817.65M | $365.55M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $3.67M | $0 | $0 | $90M | $0 | -$1.55B | $24.69M | $0 | $8.56M | -$365.55M |
| Total Long-Term Liabilities | $6.23B | $4.51B | $3.51B | $2.95B | $2.07B | $1.74B | $1.58B | $1.57B | $1.13B | $972.48M | $826.22M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$26.8M | $0 | -$1.94B | $0 | $369.25M |
| Total Liabilities | $6.71B | $5.01B | $3.97B | $3.37B | $2.47B | $1.88B | $2.06B | $1.57B | $1.24B | $984.75M | $826.22M | $369.25M |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.46M | $0 | $23.04M | $0 | $0 |
| Common Stock | $398K | $339K | $331K | $326K | $323K | $201K | $0 | $136.8M | $0 | $125.34M | $86.43M | $79.28M |
| Retained Earnings | $302.38M | $197.32M | $128.91M | $76.63M | $44.42M | $15.2M | $0 | $0 | $0 | $148.38M | $0 | $0 |
| Comprehensive Income & Other | -$2.6M | -$805K | -$1.21M | $0 | $0 | $0 | $0 | -$4.04M | $0 | $148.38M | $0 | $0 |
| Other Stockholders' Equity | $369.76M | $319.28M | $304.21M | $299.85M | $296.36M | $204.19M | $152.84M | $26.46M | $130.94M | $859.4M | $0 | $0 |
| Total Equity | $672.53M | $516.94M | $433.44M | $376.81M | $341.11M | $219.59M | $152.84M | $163.26M | $130.94M | $1.13B | $86.43M | $79.28M |
| Minority Interest | $3.15M | $3.27M | $3.43M | $3.69M | $3.38M | $0 | $0 | $0 | $0 | $920.74M | $0 | $0 |
| Total Liabilities and Equity | $7.38B | $5.52B | $4.4B | $3.75B | $2.81B | $2.1B | $2.21B | $1.74B | $1.37B | $2.12B | $912.65M | $448.53M |
| Supplementary Data | ||||||||||||
| Total Debt | $6.54B | $4.86B | $3.84B | $3.28B | $2.38B | $1.73B | $2.01B | $1.55B | $1.19B | $1.05B | $817.65M | $365.55M |
| Net Debt | $6.45B | $4.81B | $3.8B | $3.23B | $2.34B | $1.72B | $1.98B | $1.53B | $1.18B | $995.68M | $805.37M | $359.91M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | $104.98M | $68.47M | $51.52M | $32.52M | $29.22M | $17.78M | $17.29M | $7.63M | $13.99M | $6.8M |
| Depreciation & Amortization | $2.02M | $2M | $2.3M | $2.12M | $2.41M | $2.45M | $2.47M | $1.43M | $1.19M | $514K |
| Deferred Income Tax | -$8.13M | -$11.43M | $0 | $11.57M | -$9.95M | $1.67M | -$7.76M | -$517K | $0 | $0 |
| Stock-Based Compensation | $8.28M | $6.16M | $0 | $3.34M | $2.16M | $965K | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$17.21M | -$6.37M | -$13.39M | -$7.42M | -$3.29M | -$5.6M | -$14.45M | -$16.25M | -$3.69M | -$1.59M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $19.56M | $26.28M | $21.69M | -$2.56M | $16.45M | $0 | $0 | $434K | $0 | $0 |
| Other Working Capital | -$3.65M | -$284K | $8.36M | -$8.04M | -$362K | $15.2M | $15.08M | -$3.04M | $8.53M | $2.74M |
| Total Working Capital Change | -$1.31M | $19.62M | $16.66M | -$18.02M | $12.8M | $9.59M | $628K | -$18.86M | $4.84M | $1.15M |
| Other Non-Cash Items | -$87.69M | -$47.06M | -$9.42M | $17.15M | $20.98M | $22.45M | -$117.96M | -$62.17M | $17.63M | $21.31M |
| Net Cash from Operating | $18.16M | $37.76M | $61.05M | $48.67M | $57.62M | $54.89M | -$105.34M | -$72.48M | $37.64M | $29.77M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$281K | -$289K | -$180K | -$326K | -$135K | -$726K | -$882K | -$1.3M | -$3.08M | -$2.92M |
| Acquisitions | $0 | $0 | $0 | $0 | -$10.76M | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | -$16.67M | -$38.04M | $0 | -$1.69M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $128.94M | $50.2M | $56.77M | $0 | $22.69M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$1.65B | -$1.08B | -$615.51M | -$907.91M | -$666.59M | $88.47M | -$305.05M | -$268.89M | -$271.7M | -$178.18M |
| Net Cash from Investing | -$1.52B | -$1.05B | -$596.95M | -$908.24M | -$656.48M | $87.74M | -$305.93M | -$270.2M | -$274.78M | -$181.09M |
| Financing Activities | ||||||||||
| Debt Repaid | -$1.68B | -$1.01B | -$533.25M | -$899.46M | -$653.62M | $283.12M | -$467.74M | -$351.48M | -$215.62M | -$144.81M |
| Common Stock Issuance | $51.48M | $10.14M | $2.31M | $607K | $137K | $100.8M | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$7.33M | $0 | -$861K | -$458K | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$47K | -$5.84M | -$280K | -$25.59M | -$27.58M | -$8.61M | -$17.88M | -$7.85M | -$14.66M | -$12.62M |
| Net Cash from Financing | $1.68B | $1.02B | $535.77M | $874.02M | $626.17M | -$149.89M | $422.14M | $343.63M | $201.12M | $190.78M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $178.41M | $8.9M | -$129K | $14.45M | $27.31M | -$7.26M | $10.88M | $950K | -$36.02M | $39.46M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $18.16M | $37.76M | $61.05M | $48.67M | $57.62M | $54.89M | -$105.34M | -$72.48M | $37.64M | $29.77M |
| Capital Expenditure | -$281K | -$289K | -$180K | -$326K | -$135K | -$1.57M | -$2M | -$1.7M | -$3.08M | -$2.92M |
| Free Cash Flow | $17.88M | $37.47M | $60.87M | $48.35M | $57.29M | $53.32M | -$107.34M | -$74.19M | $34.56M | $26.85M |
| Cash at Beginning | $70.83M | $61.93M | $62.06M | $47.6M | $20.29M | $27.55M | $16.68M | $15.73M | $51.74M | $12.29M |
| Cash at End | $249.24M | $70.83M | $61.93M | $62.06M | $47.6M | $20.29M | $27.55M | $16.68M | $15.73M | $51.74M |