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Velocity Financial, Inc.(VEL)Earnings, Financials & Key Ratios
VEL•NYSE•Banking & Credit
$19.57
$768M mkt cap·7.1× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryMortgage FinanceSub-IndustryCommercial and multifamily mortgage lenders
AboutVelocity Financial, Inc. operates as a real estate finance company in the United States. It primarily originates and manages investor loans secured by 14 unit residential rental and small commercial properties. The company offers its products through a network of independent mortgage brokers. Velocity Financial, Inc. was founded in 2004 and is headquartered in Westlake Village, California.Show more
- Net Interest Income$186M+16.4%
- Total Revenue$714M+48.0%
- Net Income$105M+53.5%
- Return on Equity17.57%+22.9%
- Net Interest Margin2.52%-12.8%
- Efficiency Ratio23.76%+0.5%
- ROA1.63%+18.1%
- Equity / Assets9.15%-2.7%
- Book Value per Share17.70+21.7%
- Tangible BV/Share17.52+25.4%
- Debt/Equity9.68+3.6%
VEL Key Insights
Velocity Financial, Inc. (VEL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 42.7%
- ✓Efficient operations: 23.8% efficiency ratio
- ✓Trading at only 1.1x book value
✗Weaknesses
- ✗High debt to equity ratio of 9.7x
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
VEL Price & Volume
Velocity Financial, Inc. (VEL) stock price & volume — 10-year historical chart
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VEL Growth Metrics
Velocity Financial, Inc. (VEL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years33.92%
3 Years42.22%
TTM-
Profit CAGR
10 Years-
5 Years42.66%
3 Years48.3%
TTM52.85%
EPS CAGR
10 Years-
5 Years-
3 Years43.53%
TTM45.74%
Return on Capital
10 Years2.93%
5 Years3.2%
3 Years4.28%
Last Year8.57%
VEL Recent Earnings
Velocity Financial, Inc. (VEL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Mar 11, 2026EPS
$0.93
Est $0.67
+38.8%
Revenue
$103M
Est $68M
+51.8%
Q4 2025
Nov 6, 2025EPS
$0.69
Est $0.67
+3.0%
Revenue
$172M
Est $53M
+227.9%
Q3 2025
Aug 7, 2025EPS
$0.73
Est $0.54
+34.4%
Revenue
$152M
Est $43M
+252.2%
Q2 2025
May 1, 2025EPS
$0.55
Est $0.52
+5.8%
Revenue
$119M
Est $40M
+195.4%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 11, 2026 | $0.93vs $0.67+38.8% | $103Mvs $68M+51.8% |
| Q4 2025 | Nov 6, 2025 | $0.69vs $0.67+3.0% | $172Mvs $53M+227.9% |
| Q3 2025 | Aug 7, 2025 | $0.73vs $0.54+34.4% | $152Mvs $43M+252.2% |
| Q2 2025 | May 1, 2025 | $0.55vs $0.52+5.8% | $119Mvs $40M+195.4% |
Based on last 12 quarters of dataView full earnings history →
VEL Peer Comparison
Velocity Financial, Inc. (VEL) competitors in Commercial and multifamily mortgage lenders — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 RC | 330.14M | 2.04 | -0.78 | -92.98% | -16.58% | 3.12 | ||
 ACRE | 287.24M | 5.22 | -318.29 | -2.79% | -1.6% | -0.18% | 2.06 | |
 GPMT | 70.87M | 1.49 | -1.28 | 187.77% | -30.49% | -7.1% | 2.12 | |
 TPVG | 225.54M | 5.57 | 4.57 | 36.55% | 13.09% | 1.33 | ||
 FBRT | 704.6M | 9.16 | 14.30 | -100% | 17.89% | 4.73% | 2.78 | |
 LADR | 1.31B | 10.29 | 20.18 | -23.26% | 16.52% | 4.29% | 2.37 | |
 KREF | 422.45M | 6.57 | -6.26 | -22.72% | -23.56% | -8.4% | 3.83 | |
 TRTX | 664.08M | 8.59 | 15.07 | 123.25% | 23.2% | 5.7% | 3.08 |
Compare VEL vs Peers
Velocity Financial, Inc. (VEL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VEL Income Statement
Velocity Financial, Inc. (VEL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 36.54M | 48.8M | 59.01M | 67.45M | 75.97M | 83.15M | 112.94M | 159.63M | 185.78M |
| NII Growth % | 32.42% | 33.57% | 20.91% | 14.3% | 12.64% | 9.44% | 35.84% | 41.33% | 16.39% |
| Net Interest Margin % | 2.66% | 2.81% | 2.66% | 3.21% | 2.7% | 2.22% | 2.56% | 2.89% | 2.52% |
| Interest Income | 97.83M | 124.72M | 157.53M | 167.32M | 181.97M | 240.34M | 315.97M | 406.84M | 550.83M |
| Interest Expense | 61.29M | 75.92M | 98.52M | 99.88M | 106M | 157.19M | 203.02M | 247.22M | 365.05M |
| Loan Loss Provision | 421K | 201K | 1.14M | 5.07M | -292K | 1.15M | -203.02M | 24.99M | -331.64M |
| Non-Interest Income | -2.9M | -3.2M | -4.75M | -1.48M | -658K | 8.04M | -184.25M | 75.93M | 163.62M |
| Non-Interest Income % | -3.05% | -2.63% | -3.11% | -0.89% | -0.36% | 3.24% | -139.88% | 15.73% | 22.9% |
| Total Revenue | 94.93M▲ 0% | 121.52M▲ 28.0% | 152.78M▲ 25.7% | 165.84M▲ 8.5% | 181.31M▲ 9.3% | 248.38M▲ 37.0% | 131.72M▼ 47.0% | 482.78M▲ 266.5% | 714.45M▲ 48.0% |
| Revenue Growth % | 25.78% | 28.01% | 25.73% | 8.55% | 9.33% | 36.99% | -46.97% | 266.52% | 47.99% |
| Non-Interest Expense | 19.23M | 26.15M | 27.73M | 37.77M | 35.81M | 45.48M | 54.87M | 114.17M | 169.75M |
| Efficiency Ratio | 20.26% | 21.52% | 18.15% | 22.77% | 19.75% | 18.31% | 41.66% | 23.65% | 23.76% |
| Operating Income | 13.99M▲ 0% | 19.25M▲ 37.6% | 25.4M▲ 31.9% | 23.13M▼ 8.9% | 39.79M▲ 72.0% | 44.55M▲ 12.0% | 76.85M▲ 72.5% | 96.39M▲ 25.4% | 511.29M▲ 430.4% |
| Operating Margin % | 14.74% | 15.84% | 16.62% | 13.95% | 21.95% | 17.94% | 58.34% | 19.97% | 71.56% |
| Operating Income Growth % | 105.81% | 37.6% | 31.94% | -8.93% | 72.05% | 11.96% | 72.49% | 25.43% | 430.43% |
| Pretax Income | 13.99M▲ 0% | 19.25M▲ 37.6% | 25.4M▲ 31.9% | 23.13M▼ 8.9% | 39.79M▲ 72.0% | 44.55M▲ 12.0% | 71.13M▲ 59.6% | 96.39M▲ 35.5% | 146.24M▲ 51.7% |
| Pretax Margin % | 14.74% | 15.84% | 16.62% | 13.95% | 21.95% | 17.94% | 54% | 19.97% | 20.47% |
| Income Tax | 0 | 11.62M | 8.11M | 5.35M | 10.57M | 12.03M | 18.83M | 27.93M | 41.26M |
| Effective Tax Rate % | 0% | 60.36% | 31.92% | 23.14% | 26.56% | 27.01% | 26.48% | 28.97% | 28.21% |
| Net Income | 13.99M▲ 0% | 7.63M▼ 45.4% | 17.29M▲ 126.6% | 17.78M▲ 2.8% | 29.22M▲ 64.4% | 32.21M▲ 10.2% | 52.27M▲ 62.3% | 68.42M▲ 30.9% | 105.05M▲ 53.5% |
| Net Margin % | 14.74% | 6.28% | 11.32% | 10.72% | 16.12% | 12.97% | 39.69% | 14.17% | 14.7% |
| Net Income Growth % | 105.81% | -45.45% | 126.6% | 2.8% | 64.39% | 10.22% | 62.28% | 30.89% | 53.55% |
| Net Income (Continuing) | 13.99M | 7.63M | 17.29M | 17.78M | 29.22M | 32.52M | 52.29M | 68.47M | 105.05M |
| EPS (Diluted) | 1.19▲ 0% | 0.90▼ 24.4% | 0.86▼ 4.4% | -1.55▼ 280.2% | 0.86▲ 155.5% | 0.93▲ 8.1% | 1.52▲ 63.4% | 1.91▲ 25.7% | 2.75▲ 44.0% |
| EPS Growth % | 105.17% | -24.37% | -4.44% | -280.23% | 155.48% | 8.14% | 63.44% | 25.66% | 43.98% |
| EPS (Basic) | 1.19 | 0.65 | 0.86 | -1.55 | 0.90 | 0.99 | 1.60 | 2.07 | 2.81 |
| Diluted Shares Outstanding | 11.75M | 11.75M | 113.59M | 20.09M | 33.98M | 34.13M | 34.48M | 35.76M | 38.18M |
VEL Balance Sheet
Velocity Financial, Inc. (VEL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 15.92M | 15.01M | 22.55M | 13.91M | 36.13M | 45.42M | 40.76M | 50.11M | 92.1M |
| Cash & Due from Banks | 15.92M | 15.01M | 22.55M | 13.91M | 36.13M | 45.42M | 40.76M | 50.11M | 92.1M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 1.31B | -1.75B | 2.08B | 1.96B | 2.62B | 3.55B | 4.15B | 5.19B | 66K |
| Investments Growth % | 74268.86% | -233.41% | 219.08% | -5.67% | 33.34% | 35.58% | 17% | 24.94% | -100% |
| Long-Term Investments | 1.31B | 0 | 2.08B | 1.96B | 2.62B | 3.55B | 4.15B | 5.19B | 66K |
| Accounts Receivables | 7.68M | 10.1M | 13.29M | 11.37M | 13.16M | 20.46M | 27.03M | 35.23M | 51.58M |
| Goodwill & Intangibles | 0 | 9.1M | 0 | 0 | 13.93M | 16.01M | 15.35M | 20.49M | 6.78M |
| Goodwill | 0 | 4.32M | 0 | 0 | 6.78M | 6.78M | 6.78M | 6.78M | 6.78M |
| Intangible Assets | 0 | 4.78M | 0 | 0 | 7.15M | 9.24M | 8.58M | 13.71M | 0 |
| PP&E (Net) | 5.77M | 5.54M | 10.69M | 8.93M | 7.57M | 5.78M | 5.33M | 4.15M | 1.42M |
| Other Assets | 5.13M | -14.64M | 23.16M | 22.79M | -2.62B | 30.97M | 66.29M | 89.95M | -66K |
| Total Current Assets | 51.13M | 68.94M | 91.86M | 101.68M | 125.43M | 142.75M | 163.65M | 212.34M | 143.68M |
| Total Non-Current Assets | 1.32B | 1.73B | 2.12B | 2B | 21.5M | 3.61B | 4.24B | 5.32B | 30.9M |
| Total Assets | 1.37B▲ 0% | 1.74B▲ 26.5% | 2.21B▲ 27.6% | 2.1B▼ 5.1% | 2.81B▲ 33.7% | 3.75B▲ 33.3% | 4.4B▲ 17.5% | 5.53B▲ 25.5% | 7.38B▲ 33.5% |
| Asset Growth % | 21.07% | 26.49% | 27.63% | -5.05% | 33.74% | 33.3% | 17.49% | 25.49% | 33.54% |
| Return on Assets (ROA) | 1.12% | 0.49% | 0.88% | 0.82% | 1.19% | 0.98% | 1.28% | 1.38% | 1.63% |
| Accounts Payable | 22.03M | 26.8M | 56.15M | 63.36M | 92.19M | 91.53M | 121.97M | 147.81M | 168.31M |
| Total Debt | 1.19B | 1.55B | 2.01B | 1.73B | 2.38B | 3.28B | 3.84B | 4.86B | 6.54B |
| Net Debt | 1.18B | 1.53B | 1.98B | 1.72B | 2.34B | 3.23B | 3.8B | 4.81B | 6.45B |
| Long-Term Debt | 1.11B | 1.55B | 1.58B | 1.65B | 2.07B | 2.95B | 3.51B | 4.51B | 6.23B |
| Short-Term Debt | 85.3M | 0 | 421.55M | 75.92M | 301.07M | 330.81M | 334.75M | 348.08M | 309.5M |
| Other Liabilities | 24.69M | -1.55B | 0 | 90M | 393.26M | 0 | 3.67M | 0 | 165.21M |
| Total Current Liabilities | 107.33M | 26.8M | 477.69M | 139.28M | 0 | 422.34M | 456.72M | 495.9M | 476.82M |
| Total Non-Current Liabilities | 1.13B | 1.57B | 1.58B | 1.74B | 2.47B | 2.95B | 3.51B | 4.51B | 6.4B |
| Total Liabilities | 1.24B | 1.57B | 2.06B | 1.88B | 2.47B | 3.37B | 3.97B | 5.01B | 6.71B |
| Total Equity | 130.94M▲ 0% | 163.26M▲ 24.7% | 152.84M▼ 6.4% | 219.59M▲ 43.7% | 344.49M▲ 56.9% | 380.5M▲ 10.5% | 436.87M▲ 14.8% | 520.22M▲ 19.1% | 675.69M▲ 29.9% |
| Equity Growth % | -93.62% | 24.68% | -6.38% | 43.67% | 56.88% | 10.45% | 14.82% | 19.08% | 29.89% |
| Equity / Assets (Capital Ratio) | 9.55% | 9.41% | 6.9% | 10.44% | 12.25% | 10.15% | 9.92% | 9.41% | 9.15% |
| Return on Equity (ROE) | 1.28% | 5.19% | 10.94% | 9.55% | 10.36% | 8.89% | 12.79% | 14.3% | 17.57% |
| Book Value per Share | 11.14 | 13.89 | 1.35 | 10.93 | 10.14 | 11.15 | 12.67 | 14.55 | 17.70 |
| Tangible BV per Share | 11.14 | 13.12 | 1.35 | 10.93 | 9.73 | 10.68 | 12.22 | 13.97 | 17.52 |
| Common Stock | 0 | 136.8M | 0 | 201K | 323K | 326K | 331K | 339K | 398K |
| Additional Paid-in Capital | 0 | 0 | 0 | 204.19M | 296.36M | 300.31M | 306.74M | 322.95M | 382.56M |
| Retained Earnings | 0 | 0 | 0 | 15.2M | 44.42M | 76.63M | 128.91M | 197.32M | 302.38M |
| Accumulated OCI | 0 | -4.04M | 0 | 0 | 0 | 0 | -1.21M | -805K | -2.6M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | -458K | -1.32M | -2.87M | -10.2M |
| Preferred Stock | 0 | 26.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
VEL Cash Flow Statement
Velocity Financial, Inc. (VEL) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 37.64M | -72.48M | -105.34M | 54.89M | 57.62M | 48.67M | 61.05M | 37.76M | 18.16M |
| Operating CF Growth % | 26.46% | -292.55% | -45.32% | 152.11% | 4.97% | -15.53% | 25.43% | -38.16% | -51.9% |
| Net Income | 13.99M | 7.63M | 17.29M | 17.78M | 29.22M | 32.52M | 51.52M | 68.47M | 104.98M |
| Depreciation & Amortization | 1.19M | 1.43M | 2.47M | 2.45M | 2.41M | 2.12M | 2.3M | 2M | 2.02M |
| Deferred Taxes | 0 | -517K | -7.76M | 1.67M | -9.95M | 11.57M | 0 | -11.43M | -8.13M |
| Other Non-Cash Items | 17.63M | -62.17M | -117.96M | 22.45M | 20.98M | 17.15M | -9.42M | -47.06M | -87.69M |
| Working Capital Changes | 4.84M | -18.86M | 628K | 9.59M | 12.8M | -18.02M | 16.66M | 19.62M | -1.31M |
| Cash from Investing | -274.78M | -270.2M | -305.93M | 87.74M | -656.48M | -908.24M | -596.95M | -1.05B | -1.52B |
| Purchase of Investments | 0 | 0 | 0 | 0 | -1.69M | 0 | -38.04M | -16.67M | 0 |
| Sale/Maturity of Investments | 0 | 0 | 0 | 0 | 22.69M | 0 | 56.77M | 50.2M | 128.94M |
| Net Investment Activity | 0 | 0 | 0 | 0 | 21M | 0 | 18.74M | 33.53M | 128.94M |
| Acquisitions | 0 | 0 | 0 | 0 | -10.76M | 0 | 0 | 0 | 0 |
| Other Investing | -271.7M | -268.89M | -305.05M | 88.47M | -666.59M | -907.91M | -615.51M | -1.08B | -1.65B |
| Cash from Financing | 201.12M | 343.63M | 422.14M | -149.89M | 626.17M | 874.02M | 535.77M | 1.02B | 1.68B |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -458K | -861K | 0 | -7.33M |
| Stock Issued | 0 | 0 | 0 | 100.8M | 137K | 607K | 2.31M | 10.14M | 51.48M |
| Net Stock Activity | 0 | 0 | 0 | 100.8M | 137K | 149K | 1.44M | 10.14M | 44.15M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | -14.66M | -7.85M | -17.88M | -8.61M | -27.58M | -25.59M | -280K | -5.84M | -47K |
| Net Change in Cash | -36.02M▲ 0% | 950K▲ 102.6% | 10.88M▲ 1044.7% | -7.26M▼ 166.7% | 27.31M▲ 476.2% | 14.45M▼ 47.1% | -129K▼ 100.9% | 8.9M▲ 7001.6% | 178.41M▲ 1903.9% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 51.74M | 15.73M | 16.68M | 27.55M | 20.29M | 47.6M | 62.06M | 61.93M | 70.83M |
| Cash at End | 15.73M | 16.68M | 27.55M | 20.29M | 47.6M | 62.06M | 61.93M | 70.83M | 249.24M |
| Interest Paid | 46.25M | 66.46M | 86.45M | 85.41M | 85.02M | 118.71M | 0 | 251.26M | 0 |
| Income Taxes Paid | 127K | 13.22M | 15.42M | 965K | 9.64M | 23.04M | 0 | 41.55M | 0 |
| Free Cash Flow | 34.56M▲ 0% | -74.19M▼ 314.6% | -107.34M▼ 44.7% | 53.32M▲ 149.7% | 57.29M▲ 7.5% | 48.35M▼ 15.6% | 60.87M▲ 25.9% | 37.47M▼ 38.5% | 17.88M▼ 52.3% |
| FCF Growth % | 28.72% | -314.65% | -44.69% | 149.67% | 7.45% | -15.61% | 25.91% | -38.45% | -52.28% |
VEL Banking Ratios
Velocity Financial, Inc. (VEL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 0.33% | 1.28% | 5.19% | 10.94% | 9.55% | 10.36% | 8.89% | 12.79% | 14.3% | 17.57% |
| Return on Assets (ROA) | 0.6% | 1.12% | 0.49% | 0.88% | 0.82% | 1.19% | 0.98% | 1.28% | 1.38% | 1.63% |
| Net Interest Margin | 2.44% | 2.66% | 2.81% | 2.66% | 3.21% | 2.7% | 2.22% | 2.56% | 2.89% | 2.52% |
| Efficiency Ratio | 21.72% | 20.26% | 21.52% | 18.15% | 22.77% | 19.75% | 18.31% | 41.66% | 23.65% | 23.76% |
| Equity / Assets | 181.26% | 9.55% | 9.41% | 6.9% | 10.44% | 12.25% | 10.15% | 9.92% | 9.41% | 9.15% |
| Book Value / Share | 174.8 | 11.14 | 13.89 | 1.35 | 10.93 | 10.14 | 11.15 | 12.67 | 14.55 | 17.7 |
| NII Growth | - | 32.42% | 33.57% | 20.91% | 14.3% | 12.64% | 9.44% | 35.84% | 41.33% | 16.39% |
VEL SEC Filings & Documents
Velocity Financial, Inc. (VEL) SEC filings — annual & quarterly reports (10-K, 10-Q)
VEL Frequently Asked Questions
Velocity Financial, Inc. (VEL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Velocity Financial, Inc. (VEL) grew revenue by 48.0% over the past year. This is strong growth.
Yes, Velocity Financial, Inc. (VEL) is profitable, generating $104.6M in net income for fiscal year 2025 (14.7% net margin).
Dividend & Returns
Velocity Financial, Inc. (VEL) has a return on equity (ROE) of 17.6%. This is reasonable for most industries.
Industry Metrics
Velocity Financial, Inc. (VEL) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.
Velocity Financial, Inc. (VEL) has an efficiency ratio of 23.8%. This is excellent, indicating strong cost control.
Explore More VEL
Velocity Financial, Inc. (VEL) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates