Velocity Financial, Inc.

VEL

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Velocity Financial, Inc. operates as a real estate finance company in the United States. The company originates, securitizes, and manages a portfolio of loans, which are secured by real estate, including investor loans unit residential rental properties; residential rental properties office; and loans for multi-family, mixed use, and commercial properties. The company also provides warehouse and other properties. It offers its products through a network of independent mortgage brokers and direct borrower relationships. The company was founded in 2004 and is headquartered in Westlake Village, California

Valuation

Market Cap$685M

Current Price$17.56as of Jun 23, 2026

P/E Ratio6.52

P/B Ratio1.02

EV / EBITDA-

EV / Sales22.89

Profitability

Operating Margin-

Net Profit Margin33.7%

EBITDA Margin-

Returns

ROE15.6%

ROCE-

ROIC %-

ROA1.4%

Solvency

Current Ratio-

Debt / Equity9.72

Debt / Assets0.89

CFO / Net Profit0.17

Price History▼ 5.84% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

No margin data.

Growth Summary

Latest fiscal year: 2025

Revenue$312M▲ 47.1%

EBITDA-

Net Profit$105M▲ 53.5%

Cash from Ops (CFO)$18M▼ 51.9%

Free Cash Flow (FCF)$17M▼ 49.3%

Revenue CAGR 3Y50.6%

Revenue CAGR 5Y-

Net Profit CAGR 3Y48.3%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$312M	-	$105M	$17M	15.6%	47.1%	53.5%
2024	$212M	-	$68M	$33M	13.2%	36.2%	30.9%
2023	$156M	-	$52M	$49M	12.1%	70.5%	62.3%
2022	$91M	-	$32M	$48M	8.5%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	91.18	155.51	211.74	311.52
Operating Revenue	-	91.18	155.51	211.74	311.52
Selling General And Administration	-	35.93	52.99	74.55	94.95
Interest Income	-	240.34	315.97	413.33	556.68
Interest Expense	-	157.20	203.02	271.04	365.05
Net Interest Income	-	83.15	112.94	142.29	191.64
Pretax Income	-	44.55	71.13	96.39	146.24
Tax Provision	-	12.03	18.83	27.92	41.26
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0	0	0	0
Net Income Continuous Operations	-	32.52	52.29	68.47	104.98
Net Income From Continuing And Discontinued Operation	-	32.21	52.27	68.42	105.05
Net Income From Continuing Operation Net Minority Interest	-	32.21	52.27	68.42	105.05
Net Income	-	32.21	52.27	68.42	105.05
Net Income Common Stockholders	-	31.72	51.52	67.58	103.71
Net Income Including Noncontrolling Interests	-	32.52	52.29	68.47	104.98
Normalized Income	-	32.21	52.27	68.42	105.05
Diluted NI Availto Com Stockholders	-	31.72	51.52	67.58	103.71
Basic Average Shares	-	31.91	32.21	32.65	36.85
Diluted Average Shares	-	34.13	34.48	35.76	38.18
Reconciled Depreciation	-	2.12	2.30	2	2.02
Minority Interests	-	-0.31	-0.02	-0.05	0.07
Gain On Sale Of Security	-	0	-9	2.58	-30.45
General And Administrative Expense	-	34.51	52.12	73.31	93.52
Other Gand A	4.53	-	-	-	-
Salaries And Wages	-	30.46	48.34	69.59	90.22
Insurance And Claims	-	2.30	1.85	1.79	2.18
Rent Expense Supplemental	-	1.75	1.93	1.93	1.12
Selling And Marketing Expense	-	1.42	0.87	1.24	1.43
Rent And Landing Fees	-	1.75	1.93	1.93	1.12
Otherunder Preferred Stock Dividend	-	0.49	0.75	0.83	1.35
Professional Expense And Contract Services Expense	-	4.18	4.60	7.62	6.10
Other Non Interest Expense	-	5.37	24.88	32.01	58.43

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Velocity Financial, Inc.this co.	VEL	$685M	6.52↓ discount	1.02	15.6%	-
Alerus Financial Corporation	ALRS	$721M	41.37	1.28	3.1%	-
Financial Institutions, Inc.	FISI	$721M	9.63	1.18	12.2%	-
SmartFinancial, Inc.	SMBK	$712M	14.13	1.29	9.1%	-
Independent Bank Corporation	IBCP

Learn while you research

Hand-picked academy chapters to deepen your understanding of Velocity Financial, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$312M

$105M

$17M

15.6%

47.1%

53.5%

2024

$212M

$68M

$33M

13.2%

36.2%

30.9%

2023

$156M

$52M

$49M

12.1%

70.5%

62.3%

2022

$91M

$32M

$48M

8.5%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

91.18

155.51

211.74

311.52

Operating Revenue

91.18

155.51

211.74

311.52

Selling General And Administration

35.93

52.99

74.55

94.95

Interest Income

240.34

315.97

413.33

556.68

Interest Expense

157.20

203.02

271.04

365.05

Net Interest Income

83.15

112.94

142.29

191.64

Pretax Income

44.55

71.13

96.39

146.24

Tax Provision

12.03

18.83

27.92

41.26

Tax Rate For Calcs

Tax Effect Of Unusual Items

Net Income Continuous Operations

32.52

52.29

68.47

104.98

Net Income From Continuing And Discontinued Operation

32.21

52.27

68.42

105.05

Net Income From Continuing Operation Net Minority Interest

32.21

52.27

68.42

105.05

Net Income

32.21

52.27

68.42

105.05

Net Income Common Stockholders

31.72

51.52

67.58

103.71

Net Income Including Noncontrolling Interests

32.52

52.29

68.47

104.98

Normalized Income

32.21

52.27

68.42

105.05

Diluted NI Availto Com Stockholders

31.72

51.52

67.58

103.71

Basic Average Shares

31.91

32.21

32.65

36.85

Diluted Average Shares

34.13

34.48

35.76

38.18

Reconciled Depreciation

2.12

2.30

2.02

Minority Interests

-0.31

-0.02

-0.05

0.07

Gain On Sale Of Security

-9

2.58

-30.45

General And Administrative Expense

34.51

52.12

73.31

93.52

Other Gand A

4.53

Salaries And Wages

30.46

48.34

69.59

90.22

Insurance And Claims

2.30

1.85

1.79

2.18

Rent Expense Supplemental

1.75

1.93

1.12

Selling And Marketing Expense

1.42

0.87

1.24

1.43

Rent And Landing Fees

1.75

1.93

1.12

Otherunder Preferred Stock Dividend

0.49

0.75

0.83

1.35

Professional Expense And Contract Services Expense

4.18

4.60

7.62

6.10

Other Non Interest Expense

5.37

24.88

32.01

58.43

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Velocity Financial, Inc.this co.

VEL

$685M

6.52↓ discount

1.02

15.6%

Alerus Financial Corporation

ALRS

$721M

41.37

1.28

3.1%

Financial Institutions, Inc.

FISI

$721M

9.63

1.18

12.2%

SmartFinancial, Inc.

SMBK

$712M

14.13

1.29

9.1%

Independent Bank Corporation

IBCP

Velocity Financial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Velocity Financial, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on