Velocity Financial, Inc. (VEL) Stock Analysis
Financial Services · Mortgage Finance · NYSE
Velocity Financial, Inc. (VEL) posted $311.52M in revenue for fiscal 2025 (up 47.1% year over year), at a 33.7% net margin, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Velocity Financial, Inc.
Velocity Financial, Inc. has grown revenue from $0 to $311.52M over the last 8 fiscal years. The most recent year was up 47.1%.
Net margin sits at 33.7%, up 1.4 points year over year. It carries about $6.54B of total debt.
At today's valuation the market is pricing in roughly 17.5% annual free-cash-flow growth — versus the -21.1% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Velocity Financial, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Velocity Financial, Inc. revenue & earnings — last 8 fiscal years
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $91.19M | $155.51M | $211.74M | $311.52M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | $7.63M | $17.29M | $17.78M | $29.22M | $32.21M | $52.27M | $68.42M | $105.05M |
| Net margin | — | — | — | — | 35.3% | 33.6% | 32.3% | 33.7% |
Source: Velocity Financial, Inc. SEC filings (10-K).
Velocity Financial, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $225.7M but operating cash flow only $104.8M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Share count rising (dilution)Shares outstanding grew 22.5% over 4 years (32.3M → 39.6M) — existing holders' stakes are being diluted.
- Heavy debt loadTotal debt of $6846M is 377.0× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into VEL stock?
At today's market cap of $680.10M, Velocity Financial, Inc. is priced for free-cash-flow growth of about 17.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $16.59M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -21.1%/yr over the last five fiscal years, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 8 years of Velocity Financial, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Velocity Financial, Inc. financial history by metric
About Velocity Financial, Inc.
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
Velocity Financial, Inc. — frequently asked questions
What is Velocity Financial, Inc.'s revenue?
Velocity Financial, Inc. (VEL) reported revenue of $311.52M for fiscal year 2025, up 47.1% from the prior year, according to its SEC filings.
Is Velocity Financial, Inc. profitable?
Yes. VEL earned net income of $105.05M in fiscal 2025, a net margin of 33.7%.
What is VEL's P/E ratio?
Velocity Financial, Inc. trades at a price-to-earnings ratio of about 6.2 based on the latest data in our nightly-refreshed cache.
How much debt does Velocity Financial, Inc. have?
As of fiscal year 2025, VEL carried roughly $6.54B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Velocity Financial, Inc.'s market cap?
Velocity Financial, Inc. (VEL) has a market capitalization of about $680.10M, based on the latest data in our nightly-refreshed cache.
When does Velocity Financial, Inc.'s fiscal year end?
VEL's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into VEL stock?
At today's market cap of $680.10M, Velocity Financial, Inc. is priced for free-cash-flow growth of about 17.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $16.59M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -21.1%/yr over the last five fiscal years, computed from its SEC filings.
Where does this data come from?
All figures are computed from Velocity Financial, Inc.'s official SEC filings (10-K and 10-Q), covering 8 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.