VERRA MOBILITY Corp
VRRM · Transportation Services · 151.9M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $83M (gross $100M, SBC $17M)
Grade
B82High-margin, high-ROE smart-mobility franchise with entrenched tolling and government relationships, offset by leverage.
Strengths
- Top-decile margins (operating 24%, net 14%) and ROE 46.6% (92nd pct), net income +334%
- Switching-cost moat with RACs, 50+ tolling authorities and long-term government contracts
Risks
- High leverage (D/E 3.49, 90th pct) and meaningful customer concentration (NYCDOT, top-3 RACs)
- Regulatory/political risk to photo-enforcement and tolling acceptance
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 3.49)
- Customer concentration~45% of revenue from one customer/distributor — 8 million in revenue for 2025, or approximately 45% of our total revenue
- Revenue declineRevenue -13.3% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
24.4%
Net margin
14.0%
Return on equity
46.6%
Return on assets
8.3%
ROIC
14.3%
Revenue growth (QoQ)
-13.3%
Net-income growth
334.5%
Debt / equity
3.5×
Net debt / EBITDA
2.7×
Current ratio
2.1×
Free cash flow
$137M
EBITDA
$352M
Tangible book value
-$617M
Cash & investments
$65M
Stock comp / revenue
2.6%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-06-15 | Exec/director change | filing ↗ |
| 2026-06-08 | Other | filing ↗ |
| 2026-06-01 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-26 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-20 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-24 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-13 | 0001193125-26-274249 ↗ |
| 8-K | 2026-06-15 | 2026-06-09 | 0001193125-26-271174 ↗ |
| 8-K | 2026-06-08 | 2026-06-05 | 0001193125-26-260606 ↗ |
| 8-K | 2026-06-01 | 2026-05-29 | 0001193125-26-251522 ↗ |
| 8-K | 2026-05-26 | 2026-05-26 | 0001193125-26-239351 ↗ |
| 8-K | 2026-05-20 | 2026-05-19 | 0001193125-26-232579 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-209227 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-209031 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067015 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067293 ↗ |
| 8-K | 2025-10-29 | 2025-10-23 | 0001193125-25-256337 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001193125-25-256492 ↗ |