Veris Residential, Inc. (VRE) intrinsic value & 10-year financials
Veris Residential, Inc. (VRE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 8.0% a year to $288.4M, with an average return on invested capital of 0.1%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $288.4M
- Revenue growth (10-yr CAGR)
- -8.0%
- ROIC (10-yr avg)
- 0.1%
- Free cash flow (FY2025)
- $44.6M
VRE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $288.4M | $75.2M | $0.80 | $44.6M | — | 2.9% |
| FY2024 | $271.1M | -$23.1M | -$0.25 | $34.0M | — | -0.8% |
| FY2023 | $279.9M | -$107.3M | -$1.22 | $33.1M | — | -3.5% |
| FY2022 | $355.0M | -$52.1M | -$0.63 | $15.0M | — | -1.5% |
| FY2021 | $329.3M | -$119.0M | -$1.39 | -$9.0M | — | -3.1% |
| FY2020 | $313.6M | -$51.4M | -$0.70 | -$53.3M | — | -1.2% |
| FY2019 | $350.9M | $111.9M | $0.95 | — | — | 2.6% |
| FY2018 | $530.6M | $84.1M | $0.80 | — | — | 2.0% |
| FY2017 | $616.2M | $23.2M | $0.06 | — | 17.1% | 0.6% |
| FY2016 | $613.4M | $117.2M | $1.30 | — | 17.1% | 3.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Veris Residential, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Veris Residential, Inc. has historically struggled to out-earn its cost of capital, averaging just 0.1% ROIC.
Veris Residential, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Veris Residential, Inc. is modeled at -5.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.38 per share.