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SmartRent, Inc. (SMRT) 10-Year Financial Performance & Capital Metrics

SMRT • • Industrial / General
TechnologyApplication SoftwareSecurity & Identity ManagementSmart Home Security
AboutSmartRent, Inc., an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. Its solution is designed to provide communities with visibility and control their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. The company's products and solutions include smart apartments and homes, access control for buildings, common areas, rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi. It also offers professional services to customers, which include training, installation, and support services. SmartRent, Inc. was founded in 2017 and is headquartered in Scottsdale, Arizona.Show more
  • Revenue $175M -26.2%
  • EBITDA -$35M +6.2%
  • Net Income -$34M +2.7%
  • EPS (Diluted) -0.17
  • Gross Margin 34.5% +65.0%
  • EBITDA Margin -20.17% -27.0%
  • Operating Margin -23.89% -31.1%
  • Net Margin -19.24% -31.7%
  • ROE -10.65% -8.8%
  • ROIC -22.18% +3.3%
  • Debt/Equity 0.02 +533.7%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 86 (top 14%)
  • ✓Strong 5Y sales CAGR of 37.0%
  • ✓Trading at only 1.2x book value

✗Weaknesses

  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y37%
3Y16.49%
TTM-24.3%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-169.35%

EPS CAGR

10Y-
5Y-
3Y-
TTM-182.16%

ROCE

10Y Avg-39.27%
5Y Avg-28.45%
3Y Avg-14.68%
Latest-11.27%

Peer Comparison

Smart Home Security
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ALRMAlarm.com Holdings, Inc.2.53B50.7622.176.59%12.92%14.51%7.75%1.37
SMSISmith Micro Software, Inc.14.62M0.58-0.15-49.7%-158.87%-146.63%0.06
MYSEMyseum Inc.8.02M1.88-1.31-35.12%-8154.64%-83.2%
IPMIntelligent Protection Management Corp.16.54M1.82-214.16%-58.58%-36.32%0.01
CSAICLOUDASTRUCTURE, INC.18.05M0.93-2.06124.71%-210.71%-115.34%
SMRTSmartRent, Inc.329.21M1.74-10.24-26.16%-45.45%-29.32%0.02
JAMFJamf Holding Corp.1.75B13.02-24.5711.92%-5.98%-5.25%1.27%0.52
LIFLife360, Inc.4.69B59.79-946.0421.99%6.46%7.58%0.59%0.00

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+36.23M52.53M110.64M167.82M236.84M174.88M
Revenue Growth %-0.45%1.11%0.52%0.41%-0.26%
Cost of Goods Sold+37.29M56.83M120.71M166.47M187.31M114.55M
COGS % of Revenue1.03%1.08%1.09%0.99%0.79%0.65%
Gross Profit+-1.06M-4.3M-10.07M1.35M49.53M60.34M
Gross Margin %-0.03%-0.08%-0.09%0.01%0.21%0.35%
Gross Profit Growth %--3.06%-1.34%1.13%35.74%0.22%
Operating Expenses+29.05M31.42M61.58M105.6M92.69M102.11M
OpEx % of Revenue0.8%0.6%0.56%0.63%0.39%0.58%
Selling, General & Admin15.64M22.01M40.01M76.18M63.88M72.74M
SG&A % of Revenue0.43%0.42%0.36%0.45%0.27%0.42%
Research & Development7.73M9.41M21.57M29.42M28.8M29.37M
R&D % of Revenue0.21%0.18%0.19%0.18%0.12%0.17%
Other Operating Expenses000000
Operating Income+-24.43M-35.72M-71.65M-104.25M-43.16M-41.77M
Operating Margin %-0.67%-0.68%-0.65%-0.62%-0.18%-0.24%
Operating Income Growth %--0.46%-1.01%-0.45%0.59%0.03%
EBITDA+-24.38M-34.96M-71.19M-99.99M-37.63M-35.28M
EBITDA Margin %-0.67%-0.67%-0.64%-0.6%-0.16%-0.2%
EBITDA Growth %--0.43%-1.04%-0.4%0.62%0.06%
D&A (Non-Cash Add-back)59K756K463K4.26M5.53M6.5M
EBIT-24.43M-36.4M-71.65M-104.25M-43.16M-41.77M
Net Interest Income+158K-559K-249K1.95M8.58M8.24M
Interest Income158K001.95M8.58M8.24M
Interest Expense0559K249K000
Other Income/Expense-427K-1.24M-194K2.54M8.46M8.4M
Pretax Income+-30.26M-36.96M-71.85M-101.71M-34.7M-33.38M
Pretax Margin %-0.84%-0.7%-0.65%-0.61%-0.15%-0.19%
Income Tax+0149K115K-5.39M-108K267K
Effective Tax Rate %1.11%1%1%0.95%1%1.01%
Net Income+-33.47M-37.11M-71.96M-96.32M-34.59M-33.64M
Net Margin %-0.92%-0.71%-0.65%-0.57%-0.15%-0.19%
Net Income Growth %--0.11%-0.94%-0.34%0.64%0.03%
Net Income (Continuing)-30.26M-37.11M-71.96M-96.32M-34.59M-33.64M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-36.34-3.58-0.37-0.49-0.17-0.17
EPS Growth %-0.9%0.9%-0.32%0.65%0%
EPS (Basic)-36.34-3.58-0.37-0.49-0.17-0.17
Diluted Shares Outstanding921K10.38M193.86M195.57M200.7M199.18M
Basic Shares Outstanding921K10.38M193.86M195.57M200.7M199.18M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+40.18M87.66M536.01M378.36M340.34M257.65M
Cash & Short-Term Investments21.42M38.62M430.84M210.41M215.21M142.48M
Cash Only21.42M38.62M430.84M210.41M215.21M142.48M
Short-Term Investments000000
Accounts Receivable6.85M20.79M45.49M62.44M61.9M59.3M
Days Sales Outstanding68.97144.43150.06135.8195.4123.76
Inventory6.29M17.63M33.21M75.72M41.58M35.26M
Days Inventory Outstanding61.53113.22100.41166.0381.02112.36
Other Current Assets2.89M7.35M11.39M24.74M14.5M12.74M
Total Non-Current Assets+7.27M16.19M43.68M182.49M169.42M162.53M
Property, Plant & Equipment2.13M1.77M4.8M2.07M3.95M2.45M
Fixed Asset Turnover17.04x29.73x23.04x81.11x59.96x71.35x
Goodwill04.16M12.67M117.27M117.27M117.27M
Intangible Assets003.59M31.12M32.88M23.38M
Long-Term Investments000247K2.25M0
Other Non-Current Assets5.15M10.27M22.62M32.03M13.07M19.43M
Total Assets+47.45M103.85M579.68M560.85M509.76M420.18M
Asset Turnover0.76x0.51x0.19x0.30x0.46x0.42x
Asset Growth %-1.19%4.58%-0.03%-0.09%-0.18%
Total Current Liabilities+21.29M32.83M70.57M132.78M117.31M71.03M
Accounts Payable1.68M2.27M6.15M18.36M15.08M8.72M
Days Payables Outstanding16.414.6118.5940.2629.3827.77
Short-Term Debt7.64M1.65M0000
Deferred Revenue (Current)01000K1000K1000K1000K1000K
Other Current Liabilities5.37M6.32M17.68M20.24M16.29M27.25M
Current Ratio1.89x2.67x7.60x2.85x2.90x3.63x
Quick Ratio1.59x2.13x7.13x2.28x2.55x3.13x
Cash Conversion Cycle114.09243.03231.88261.58147.04208.35
Total Non-Current Liabilities+24.39M37.84M59.61M63.87M50M59.71M
Long-Term Debt9.61M3.17M0000
Capital Lease Obligations00001.31M7.02M
Deferred Tax Liabilities000000
Other Non-Current Liabilities14.77M516K6.2M3.94M2.79M100K
Total Liabilities45.68M70.67M130.18M196.65M167.31M130.74M
Total Debt+17.68M4.82M001.31M7.02M
Net Debt-3.74M-33.8M-430.84M-210.41M-213.9M-135.46M
Debt / Equity9.95x0.15x--0.00x0.02x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage--63.89x-287.76x---
Total Equity+1.78M33.18M449.5M364.2M342.45M289.44M
Equity Growth %-17.67%12.55%-0.19%-0.06%-0.15%
Book Value per Share1.933.202.321.861.711.45
Total Shareholders' Equity1.78M33.18M449.5M364.2M342.45M289.44M
Common Stock0019K20K20K19K
Retained Earnings-45.53M-82.64M-154.6M-250.93M-285.51M-347.85M
Treasury Stock000000
Accumulated OCI0235K9K-176K-216K-98K
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-21.86M-28.49M-70.38M-77.83M5.98M-32.91M
Operating CF Margin %-0.6%-0.54%-0.64%-0.46%0.03%-0.19%
Operating CF Growth %--0.3%-1.47%-0.11%1.08%-6.5%
Net Income-30.26M-37.11M-71.96M-96.32M-34.59M-33.64M
Depreciation & Amortization59K295K463K4.26M5.53M6.5M
Stock-Based Compensation7.01M1.76M8.13M13.72M13.27M12.07M
Deferred Taxes1.75M00-5.72M00
Other Non-Cash Items11.07M9.23M9.43M11.17M8.97M10.58M
Working Capital Changes-9.75M-2.66M-16.43M-4.94M12.8M-28.42M
Change in Receivables-4.22M-13.53M-23.97M-15.94M-177K1.1M
Change in Inventory-4.54M-11.09M-15.78M-42.81M31.69M-1.28M
Change in Payables0-72K3.81M12.45M-3.48M-6.4M
Cash from Investing+-821K-2.68M-9.37M-133.99M-6.02M-7.6M
Capital Expenditures-771K-298K-1.47M-1.11M-147K-1.77M
CapEx % of Revenue0.02%0.01%0.01%0.01%0%0.01%
Acquisitions------
Investments------
Other Investing-50K0-2M-3.2M-3.63M-5.83M
Cash from Financing+40.98M48.22M473.93M-2.8M-1.91M-32.96M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing22.22M-61K443.79M-2.8M-1.91M-4.4M
Net Change in Cash------
Free Cash Flow+-22.63M-28.79M-71.85M-82.15M2.21M-40.51M
FCF Margin %-0.62%-0.55%-0.65%-0.49%0.01%-0.23%
FCF Growth %--0.27%-1.5%-0.14%1.03%-19.35%
FCF per Share-24.58-2.77-0.37-0.420.01-0.20
FCF Conversion (FCF/Net Income)0.65x0.77x0.98x0.81x-0.17x0.98x
Interest Paid0459K254K146K97K259K
Taxes Paid083K14K197K78K236K

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-1883.46%-212.3%-29.82%-23.67%-9.79%-10.65%
Return on Invested Capital (ROIC)---595.61%-90.68%-22.93%-22.18%
Gross Margin-2.92%-8.18%-9.1%0.8%20.91%34.5%
Net Margin-92.37%-70.64%-65.04%-57.4%-14.6%-19.24%
Debt / Equity9.95x0.15x--0.00x0.02x
Interest Coverage--63.89x-287.76x---
FCF Conversion0.65x0.77x0.98x0.81x-0.17x0.98x
Revenue Growth-44.99%110.6%51.69%41.13%-26.16%

Revenue by Segment

2021202220232024
Hardware69.63M87.37M137.2M82.84M
Hardware Growth-25.48%57.03%-39.62%
Hosted Services18.28M48.15M64.16M73.24M
Hosted Services Growth-163.45%33.26%14.14%
Professional Services22.73M32.3M55.49M31.16M
Professional Services Growth-42.09%71.81%-43.85%

Revenue by Geography

2021202220232024
UNITED STATES-165.79M235.55M173.21M
UNITED STATES Growth--42.07%-26.47%
Non-US-2.03M1.28M1.68M
Non-US Growth---36.57%30.58%
U S108.07M---
U S Growth----
Non Us2.56M---
Non Us Growth----

Frequently Asked Questions

Growth & Financials

SmartRent, Inc. (SMRT) reported $151.2M in revenue for fiscal year 2024. This represents a 317% increase from $36.2M in 2019.

SmartRent, Inc. (SMRT) saw revenue decline by 26.2% over the past year.

SmartRent, Inc. (SMRT) reported a net loss of $68.7M for fiscal year 2024.

Dividend & Returns

SmartRent, Inc. (SMRT) has a return on equity (ROE) of -10.6%. Negative ROE indicates the company is unprofitable.

SmartRent, Inc. (SMRT) had negative free cash flow of $49.7M in fiscal year 2024, likely due to heavy capital investments.

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