A Business at a Glance
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Veris Residential, Inc.
VRE
$1.8B
Mkt Cap
Veris Residential, Inc. (VRE) has a current P/E ratio of 23.6, compared to its historical median P/E of 20.0. The stock is currently considered Expensive based on its historical valuation range.
Veris Residential, Inc. (VRE) has a 5-year average return on invested capital (ROIC) of 0.9%. This is below average and may indicate limited pricing power.
Veris Residential, Inc. (VRE) has a market capitalization of $1.8B. It is classified as a small-cap stock.
Yes, Veris Residential, Inc. (VRE) pays a dividend with a trailing twelve-month yield of 1.70%. The company also returns capital through share buybacks, with a buyback yield of 0.06%.
Based on historical P/E analysis, Veris Residential, Inc. (VRE) appears expensive. The current P/E of 23.6 is 18% above its historical median of 20.0. The estimated fair value CAGR (P/E method) is -1.7%.
Veris Residential, Inc. (VRE) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
Veris Residential, Inc. (VRE) reported annual revenue of $288 million in its most recent fiscal year, based on SEC EDGAR filings.
Veris Residential, Inc., a Maryland corporation, together with its subsidiaries (collectively the “General Partner”), is a fully-integrated, self-administered and self-managed real estate investment trust (“REIT”). The Company owns, operates and develops multifamily rental properties located primarily in the Northeast, as well as a portfolio of non-strategic land and commercial assets. The Company's technology-enabled, vertically integrated operating platform delivers a contemporary living experience aligned with residents' preferences while positively impacting the communities it serves to maximize value for all stakeholders. Veris Residential, Inc. was incorporated on May 24, 1994. The General Partner controls Veris Residential, L.P., a Delaware limited partnership, together with its subsidiaries (collectively, the “Operating Partnership”), as its sole general partner and owned a 91.6 percent and 91.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 291M | 288M | 271M | 260M | 213M | 195M |
| Net Income | 72M | 75M | -23M | -112M | -58M | -126M |
| EPS | $0.77 | $0.80 | $-0.25 | $-1.22 | $-0.63 | $-1.39 |
| Free Cash Flow | 0 | 76M | 52M | 46M | -64M | 56M |
| ROIC | 0.0% | 5.8% | 2.1% | -0.7% | 0.3% | -3.2% |
| Gross Margin | - | 54.3% | 35.5% | 5.0% | 42.3% | 21.7% |
| Debt/Equity | 0.11 | 1.21 | 1.84 | 1.63 | 1.54 | 1.98 |
| Dividends/Share | $0.00 | $0.32 | $0.24 | $0.05 | - | $0.00 |
| Operating Income | 0 | 164M | 65M | -22M | 8.8M | -79M |
| Operating Margin | 0.0% | 56.9% | 24.0% | -8.4% | 4.1% | -40.5% |
| ROE | 6.4% | 6.7% | -2.1% | -9.4% | -4.6% | -9.4% |
| Shares Outstanding | 94M | 94M | 92M | 92M | 91M | 91M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 637M | 595M | 613M | 459M | 372M | 357M | 307M | 195M | 213M | 260M | 271M | 288M | 291M |
| Gross Margin | 42.8% | 9.4% | 41.0% | 45.5% | 41.2% | 37.2% | 23.5% | 21.7% | 42.3% | 5.0% | 35.5% | 54.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 71M | 49M | 52M | 50M | 54M | 60M | 71M | 57M | 56M | 44M | 39M | 37M | 37M |
| EBIT | 89M | -96M | 105M | 105M | 150M | 177M | 18M | -79M | 8.8M | -22M | 65M | 164M | 0 |
| Op. Margin | 13.9% | -16.2% | 17.1% | 22.9% | 40.4% | 49.4% | 5.8% | -40.5% | 4.1% | -8.4% | 24.0% | 56.9% | 0.0% |
| Net Income | 29M | -126M | 117M | 23M | 73M | 86M | -63M | -126M | -58M | -112M | -23M | 75M | 72M |
| Net Margin | 4.5% | -21.1% | 19.1% | 5.1% | 19.6% | 24.1% | -20.6% | -64.9% | -27.0% | -42.9% | -8.5% | 26.1% | 24.7% |
| Non-Recurring | 79M | 251M | 110M | 2.4M | 107M | 343M | 2.7M | 5.9M | 0 | 0 | 0 | 91M | 91M |
| Returns on Capital | |||||||||||||
| ROIC | 2.4% | -3.4% | 2.6% | 2.2% | 3.0% | 3.7% | 0.4% | -3.2% | 0.3% | -0.7% | 2.1% | 5.8% | 0.0% |
| ROE | 1.7% | -8.2% | 7.9% | 1.5% | 4.9% | 5.8% | -4.4% | -9.4% | -4.6% | -9.4% | -2.1% | 6.7% | 6.4% |
| ROA | 0.7% | -3.0% | 2.8% | 0.5% | 1.5% | 1.7% | -1.2% | -2.6% | -1.4% | -3.1% | -0.7% | 2.6% | 2.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 159M | 169M | 100M | 196M | 167M | 132M | 85M | 56M | 66M | 46M | 52M | 76M | 77M |
| Free Cash Flow | 67M | 75M | -21M | 106M | 54M | 44M | 69M | 56M | -64M | 46M | 52M | 76M | 0 |
| Owner Earnings | -26M | -4.9M | -87M | 59M | 51M | -6.0M | -40M | -23M | -12M | -41M | -31M | -11M | -10M |
| CapEx | 92M | 94M | 122M | 90M | 114M | 88M | 17M | 0 | 131M | 0 | 0 | 0 | 0 |
| Maint. CapEx | 174M | 172M | 187M | 136M | 109M | 130M | 118M | 69M | 78M | 86M | 83M | 86M | 86M |
| Growth CapEx | 0 | 0 | 0 | 0 | 4.2M | 0 | 0 | N/A | 53M | N/A | N/A | N/A | 0 |
| D&A | 174M | 172M | 187M | 136M | 109M | 130M | 118M | 69M | 78M | 86M | 83M | 86M | 86M |
| CapEx/OCF | 57.7% | 55.5% | 121.5% | 46.1% | 67.9% | 66.9% | 162.4% | N/A | 196.4% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 11M | 11M | 11M | 11M | 11M | 7.8M | 2.7M | 898K | 2.7M | 142K | 0 | 456K | 1.1M |
| Buyback Yield | 0.8% | 0.6% | 0.5% | 0.7% | 0.7% | 0.3% | 0.3% | 0.1% | 0.2% | 0.0% | N/A | 0.0% | 0.1% |
| Stock-Based Comp | 11M | 2.2M | 1.0M | 1.1M | 6.9M | 8.2M | 7.6M | 11M | 600K | 500K | 500K | 800K | 600K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 2.1B | 2.3B | 2.9B | 3.6B | 3.6B | 3.1B | 2.8B | 2.5B | 1.9B | 1.8B | 2.0B | 1.4B | 115M |
| Cash & Equiv. | 30M | 37M | 32M | 28M | 30M | 26M | 38M | 32M | 27M | 28M | 7.3M | 14M | 9.4M |
| Long-Term Debt | 2.1B | 2.2B | 2.3B | 2.8B | 2.8B | 2.8B | 2.8B | 2.4B | 1.9B | 1.9B | 1.7B | 1.4B | 1.4B |
| Debt/Equity | 1.29 | 1.59 | 1.95 | 2.46 | 2.41 | 2.10 | 2.02 | 1.98 | 1.54 | 1.63 | 1.84 | 1.21 | 0.11 |
| Interest Coverage | 0.8 | -0.9 | 1.1 | 1.2 | 1.9 | 1.9 | 0.2 | -1.7 | 0.1 | -0.2 | 0.7 | 1.9 | 1.9 |
| Equity | 1.6B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.4B | 1.3B | 1.2B | 1.1B | 1.1B | 1.2B | 1.1B |
| Total Assets | 4.2B | 4.1B | 4.3B | 5.0B | 5.1B | 5.3B | 5.1B | 4.5B | 3.9B | 3.2B | 3.0B | 2.7B | 2.7B |
| Total Liabilities | 2.3B | 2.4B | 2.6B | 3.1B | 3.0B | 3.1B | 3.0B | 2.6B | 2.0B | 1.9B | 1.7B | 1.4B | 1.4B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -936M | -1.1B | -1.1B | -1.1B | -1.1B | -1.0B | -1.1B | -1.2B | -1.3B | -1.4B | -1.5B | -1.4B | -1.4B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 127M | 135M | 160M | 193M | 168M | 210M | 195M | 135M | N/A | N/A | N/A | N/A | 44M |
| Per Share Data | |||||||||||||
| EPS | 0.32 | -1.41 | 1.30 | 0.26 | 0.80 | 0.95 | -0.70 | -1.39 | -0.63 | -1.22 | -0.25 | 0.80 | 0.77 |
| Owner EPS | -0.29 | -0.05 | -0.97 | 0.66 | 0.56 | -0.07 | -0.44 | -0.26 | -0.13 | -0.45 | -0.33 | -0.12 | -0.11 |
| Book Value | 18.20 | 16.32 | 16.94 | 16.42 | 16.36 | 16.50 | 15.49 | 14.11 | 13.53 | 12.41 | 11.89 | 12.24 | 12.04 |
| Cash Flow/Share | 1.78 | 1.90 | 1.11 | 2.18 | 1.84 | 1.46 | 0.95 | 0.62 | 0.73 | 0.50 | 0.57 | 0.81 | 1.69 |
| Dividends/Share | 0.75 | 0.60 | 0.60 | 0.75 | 0.80 | 0.80 | 0.40 | 0.00 | N/A | 0.05 | 0.24 | 0.32 | 0.00 |
| Shares Out. | 89.3M | 89.2M | 90.2M | 89.9M | 90.9M | 90.5M | 90.3M | 90.9M | 91.3M | 91.6M | 92.5M | 94.0M | 93.8M |
| Valuation | |||||||||||||
| P/E Ratio | 46.6 | N/A | 18.0 | 311.5 | 21.5 | 22.4 | N/A | N/A | N/A | N/A | N/A | 18.5 | 24.5 |
| P/FCF | 19.8 | 22.5 | N/A | 15.9 | 29.1 | 44.2 | 16.0 | 28.8 | N/A | 30.9 | 28.4 | 18.4 | N/A |
| EV/EBIT | 38.2 | N/A | 48.3 | 49.7 | 34.0 | 12.4 | N/A | N/A | 216.3 | N/A | 53.6 | 16.8 | N/A |
| Price/Book | 0.8 | 1.2 | 1.4 | 1.1 | 1.0 | 1.7 | 0.6 | 1.2 | 1.0 | 1.2 | 1.3 | 1.2 | 1.6 |
| Price/Sales | 2.2 | 2.4 | 3.1 | 4.1 | 4.2 | 6.6 | 3.5 | 4.2 | 5.2 | 5.2 | 5.3 | 4.9 | 6.1 |
| FCF Yield | 5.1% | 4.4% | -1.0% | 6.5% | 3.4% | 1.7% | 7.7% | 3.7% | -5.1% | 3.4% | 3.5% | 5.4% | N/A |
| Market Cap | 1.3B | 1.7B | 2.1B | 1.6B | 1.6B | 2.5B | 893M | 1.5B | 1.2B | 1.3B | 1.5B | 1.4B | 1.8B |
| Avg. Price | 15.96 | 15.92 | 20.80 | 21.69 | 17.14 | 19.96 | 14.79 | 15.87 | 14.63 | 15.47 | 15.51 | 15.09 | 18.85 |
| Year-End Price | 14.93 | 19.04 | 23.41 | 18.69 | 17.18 | 21.28 | 12.17 | 17.81 | 15.08 | 15.34 | 16.04 | 14.83 | 18.85 |
Veris Residential, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
Veris Residential, Inc. trades at 23.6x trailing earnings, compared to its 15-year median P/E of 20.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 23.3x vs a median of 28.6x. The company's 5-year average ROIC is 0.9% with a gross margin of 31.8%. Total shareholder yield (dividends) is 1.8%. At current prices, the estimated annualized return to fair value is +3.1%.
Veris Residential, Inc. (VRE) has a net profit margin of 26.1%. This is a strong margin indicating high profitability.
Veris Residential, Inc. (VRE) generated $76 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Veris Residential, Inc. (VRE) has a debt-to-equity ratio of 1.21. This indicates moderate leverage.
Veris Residential, Inc. (VRE) reported earnings per share (EPS) of $0.80 in its most recent fiscal year.
Veris Residential, Inc. (VRE) has a return on equity (ROE) of 6.7%. This indicates moderate shareholder returns.
Veris Residential, Inc. (VRE) has a 5-year average gross margin of 31.8%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for Veris Residential, Inc. (VRE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Veris Residential, Inc. (VRE) has a book value per share of $12.24, based on its most recent annual SEC filing.