Forensic Analysis · Transportation / Logistics · as of Nov 9, 2026
Verra Mobility Corp (VRRM)
A forensic read on Verra Mobility Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.6
Distress distance
Clean
Earnings quality
3
Forensic signals
49.0%
ROE
14.6%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Verra Mobility Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by goodwill impairments.
What the filings flag
$97M
FY2024
Goodwill impairments.Took $97M of goodwill writedowns across 1 year (FY2024 ($97M)) — about 309% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
12.3%
FY2025
Return on invested capital.Return on invested capital is 12.3% in the latest fiscal year, against 8.5% in FY2023, having run between 6.3% and 12.3% across FY2023–FY2025 with no direction held. After-tax operating profit was $124M in FY2023 and $167M in FY2025, with operating income at 182.3% of revenue in FY2023, 117.2% in FY2024 and 179.3% in FY2025. The capital base behind it went from $1.4B in FY2023 to $1.4B in FY2025 (-6%), while the revenue it carried went from $104M to $133M. FY2024's operating profit carried a $97M goodwill write-off that alone took about 4.5 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
98% of FCF
FY2025
Shareholder returns.Returned $133M to shareholders (buybacks + dividends) in FY2025 — 98% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 67% of free cash flow two years back — not just sitting there. Counting the $25M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 116%.
Key fundamentals
Latest Revenue$133.0M
Revenue Growth YoY+14.6%
Revenue CAGR (2yr)+13.3%
Net Margin102.8%
Free Cash Flow$136.7M
Return on Equity49.0%
Debt / Equity3.51x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Verra Mobility Corp's actual 10-K/10-Q/8-K filings?