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Financial statementsVERRA MOBILITY Corp financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data VERRA MOBILITY Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 370 | 449 | 394 | 551 | 742 | 817 | 879 | 979 | |
| Selling, general and administrative | 133 | 85.5 | 89.7 | 123 | 163 | 199 | 195 | 215 | |
| Operating income | -0.78 | 15.8 | 96.5 | 37.8 | 112 | 165 | 189 | 136 | 238 |
| Interest expense | 69.6 | 60.7 | 40.9 | 44.9 | 69.4 | 86.7 | 73.9 | 64.6 | |
| Other non-operating income | -83.6 | -65.8 | -37 | -44 | -37.6 | -102 | -56.9 | -43.4 | |
| Pre-tax income | 2.24 | -67.7 | 30.7 | 0.85 | 67.9 | 127 | 87 | 79.1 | 195 |
| Income tax | 0.81 | -16.2 | 13.6 | 5.43 | 26.5 | 34.6 | 30 | 47.7 | 58.3 |
| Net income | 1.42 | -51.5 | 17.1 | -4.58 | 41.4 | 92.5 | 57 | 31.4 | 137 |
| EBITDA | 119 | 212 | 154 | 229 | 303 | 302 | 245 | 352 | |
| EPS, basic | -0.59 | 0.11 | -0.03 | 0.26 | 0.61 | 0.36 | 0.19 | 0.86 | |
| EPS, diluted | -0.59 | 0.11 | -0.03 | 0.25 | 0.50 | 0.36 | 0.19 | 0.85 | |
| Shares, basic (weighted) | 87.3 | 158 | 162 | 160 | 153 | 159 | 165 | 159 | |
| Shares, diluted (weighted) | 87.3 | 160 | 162 | 164 | 159 | 160 | 168 | 161 |
Balance sheet
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 8.72 | 65 | 132 | 120 | 101 | 105 | 136 | 77.6 | 65.3 |
| Short-term investments | 0 | ||||||||
| Receivables | 60.2 | 87.5 | 93.5 | 169 | 161 | 164 | 198 | 207 | 234 |
| Inventory | 0.11 | 12.1 | 19.3 | 18 | 15.5 | 20.7 | |||
| Other current assets | 0.05 | 0.81 | 2.1 | 0.78 | 1.81 | 1.97 | 0.76 | 4.4 | 10.3 |
| Total current assets | 91.3 | 185 | 272 | 328 | 348 | 363 | 440 | 394 | 441 |
| Property, plant and equipment | 65.4 | 69.2 | 72.3 | 70.3 | 96.1 | 110 | 123 | 142 | 209 |
| Lease right-of-use assets | 32.2 | 29.8 | 38.9 | 37.6 | 33.5 | 29.9 | 36.4 | ||
| Goodwill | 294 | 565 | 584 | 586 | 839 | 833 | 836 | 736 | 742 |
| Intangible assets | 204 | 515 | 434 | 342 | 487 | 377 | 301 | 232 | 169 |
| Other non-current assets | 0.98 | 1.85 | 3.11 | 2.7 | 14.6 | 12.5 | 33.9 | 44.5 | 22.4 |
| Total assets | 665 | 1,345 | 1,407 | 1,367 | 1,837 | 1,756 | 1,790 | 1,614 | 1,646 |
| Accounts payable | 20.2 | 45.2 | 50.8 | 34.5 | 67.6 | 79.9 | 78.7 | 91.2 | 102 |
| Accrued liabilities | 10.1 | 14.4 | 19.5 | 14.9 | 38.4 | 48.8 | 93.1 | 74 | 69.9 |
| Deferred revenue | 0.75 | 27.1 | 31.2 | 28.8 | 29.4 | 26.7 | |||
| Short-term debt | 3.25 | 9.1 | 28.8 | 9.1 | 37 | 21.9 | 9.02 | 0 | 6.89 |
| Total current liabilities | 33.5 | 68.7 | 105 | 64 | 175 | 187 | 215 | 200 | 210 |
| Long-term debt | 425 | 860 | 838 | 833 | 1,207 | 1,190 | 1,029 | 1,034 | 1,021 |
| Lease liabilities | 30.1 | 28 | 35 | 33.4 | 29.1 | 25.8 | 31.3 | ||
| Other non-current liabilities | 3.37 | 2.18 | 0.49 | 5.69 | 5.88 | 14.2 | 16.5 | 17.2 | |
| Total liabilities | 518 | 1,043 | 1,098 | 1,052 | 1,577 | 1,525 | 1,369 | 1,349 | 1,353 |
| Total debt | 429 | 869 | 866 | 842 | 1,244 | 1,212 | 1,038 | 1,034 | 1,028 |
| Paid-in capital | 129 | 348 | 347 | 374 | 310 | 305 | 558 | 552 | 547 |
| Retained earnings | 18.2 | -113 | -89.6 | -94.9 | -81.4 | -98.1 | -126 | -269 | -244 |
| Other comprehensive income | -5.82 | -2.58 | 0.21 | -5.09 | -12.9 | -10.2 | -17.6 | -10.6 | |
| Shareholders' equity | 147 | 289 | 310 | 316 | 260 | 231 | 421 | 265 | 293 |
| Total equity | 147 | 289 | 310 | 316 | 260 | 231 | 421 | 265 | 293 |
| Total liabilities and equity | 665 | 1,345 | 1,407 | 1,367 | 1,837 | 1,756 | 1,790 | 1,614 | 1,646 |
| Shares outstanding | 60.5 | 156 | 159 | 162 | 156 | 149 | 167 | 160 | 154 |
Cash flow statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | 1.42 | -51.5 | 17.1 | -4.58 | 41.4 | 92.5 | 57 | 31.4 | 137 |
| Depreciation and amortization | 103 | 116 | 117 | 117 | 139 | 113 | 109 | 114 | |
| Stock-based compensation | 2.27 | 10 | 12.6 | 13.8 | 16.7 | 17.5 | 23 | 25.2 | |
| Deferred income tax | -24.4 | -10.9 | -4.75 | -10.6 | -17.4 | -27 | -10 | 19.3 | |
| Change in receivables | -23.7 | -12.7 | -90.6 | 14.9 | -17.7 | -42.5 | -22.7 | -49.6 | |
| Change in inventory | 2.8 | -10.3 | 1.15 | 1.92 | 3.4 | ||||
| Change in payables | 7.13 | -8.19 | -16.9 | ||||||
| Cash from operations | 2.43 | 49.3 | 134 | 46.9 | 193 | 218 | 206 | 224 | 256 |
| Capital expenditures | -26.6 | -29.7 | -24.3 | -25 | -48.2 | -57 | -70.9 | -119 | |
| Acquisitions | -537 | -25.5 | -451 | 0 | 0 | ||||
| Purchases of investments | -400 | ||||||||
| Cash from investing | -403 | -563 | -55 | -24.2 | -476 | -48.6 | -58.3 | -69.7 | -119 |
| Debt issued | 1,104 | 1,246 | 0 | 0 | 36.6 | 29.8 | |||
| Debt repaid | -655 | -9.1 | -28.8 | -885 | -9.02 | -182 | -45.6 | -38.3 | |
| Stock issued | 0.16 | 1.33 | 5.92 | 4.29 | 1.09 | ||||
| Share buybacks | -100 | -125 | -100 | -200 | -133 | ||||
| Cash from financing | 401 | 571 | -14.5 | -34 | 269 | -165 | -118 | -211 | -151 |
| Exchange rate effect | -0.86 | 1.04 | |||||||
| Net change in cash | 0.82 | 56.6 | 65.3 | -11.5 | -16.5 | 4.68 | 30.6 | -58.6 | -12.8 |
| Free cash flow | 22.7 | 104 | 22.6 | 168 | 170 | 149 | 153 | 137 | |
| Interest paid | 60.4 | 55.2 | 35.8 | 35.8 | 63.7 | 86.1 | 76.2 | 65 | |
| Income taxes paid | 0.07 | 0.76 | 24.4 | 12.6 | 35.8 | 47.6 | 54 | 50.2 | 47.1 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Operating margin | 13.6% | Operating income / revenue. |
| EBITDA margin | 25.0% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 9.5% | Pre-tax income / revenue. |
| Net margin | 4.4% | Net income / revenue. |
| FCF margin | 9.6% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 21.3% | Cash from operations / revenue. |
| Effective tax rate | 53.8% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 19.8% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 2.7% | Net income / average total assets. |
| Return on invested capital (ROIC) | 8.9% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| SG&A / revenue | 19.9% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 1.8% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 11.7% | Capital expenditures / revenue. |
| D&A / revenue | 11.4% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 11.4% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 9.7% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 20.0% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 75.3% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | 13.1% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | 44.5% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 44.1% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | 5.1% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 18.0% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 334.5% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 13.9% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS growth, 1y | 347.4% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 19.3% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 14.4% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 5.4% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 40.4% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -10.5% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -7.0% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 43.3% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 10.5% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 8.2% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | -1.5% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 1.9% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -2.1% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 3.8% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -3.8% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 0.5% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | -0.0% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 2.06x | Current assets / current liabilities. |
| Quick ratio | 1.32x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.23x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 4.63x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 64.0% | Total debt / total assets. |
| Liabilities / assets | 86.2% | Total liabilities / total assets. |
| Net debt | $979.9M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Net debt / EBITDA | 3.89x | Net debt / EBITDA (twelve months), when EBITDA is positive. |
| Interest coverage | 2.20x | Operating income / interest expense. |
| Working capital | $252.3M | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 48.0% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | -$551.9M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.62x | Revenue / average total assets. |
| Fixed asset turnover | 4.04x | Revenue / average property, plant and equipment. |
| Receivables turnover | 3.88x | Revenue / average receivables. |
| Days sales outstanding | 94 days | 365 x average receivables / revenue. |
| FCF conversion | 218.8% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 54.9% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $0.29 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $6.63 | Revenue / diluted weighted shares. |
| FCF per share | $0.64 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $1.41 | Cash from operations / diluted weighted shares. |
| Book value per share | $1.47 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | -$3.63 | Tangible book value / shares outstanding. |
| Cash per share | $0.36 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 190.9% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $492.4M | Share price x shares outstanding. |
| Enterprise value | $1.47B | Market cap + total debt - cash - short-term investments. |
| P/E | 11.1x | Market cap / net income. Only when net income is positive. |
| P/S | 0.49x | Market cap / revenue. |
| P/B | 2.20x | Market cap / shareholders' equity. Only when equity is positive. |
| P/FCF | 5.08x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 2.29x | Market cap / cash from operations, when positive. |
| EV/Sales | 1.46x | Enterprise value / revenue. |
| EV/EBIT | 10.8x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 5.84x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 15.2x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 19.7% | Free cash flow / market cap. |
| Earnings yield | 9.0% | Net income / market cap (the inverse of P/E). |
| Shareholder yield | 37.6% | (Dividends paid + share buybacks) / market cap. |
| PEG | 0.57x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was VERRA MOBILITY Corp's revenue in fiscal 2025?
VERRA MOBILITY Corp reported revenue of $979.1M for fiscal 2025, 11.4% higher than the year before.
Was VERRA MOBILITY Corp profitable in fiscal 2025?
Yes. Net income was $136.6M, a net margin of 14%.
How much free cash flow did VERRA MOBILITY Corp generate in fiscal 2025?
Cash from operations of $255.8M minus capital expenditures of $119.1M left free cash flow of $136.7M.