See more : Parsons Corporation (PSN) Income Statement Analysis – Financial Results
Complete financial analysis of Veris Residential, Inc. (VRE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Veris Residential, Inc., a leading company in the REIT – Residential industry within the Real Estate sector.
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Veris Residential, Inc. (VRE)
About Veris Residential, Inc.
Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 279.86M | 355.02M | 329.32M | 313.56M | 350.94M | 530.61M | 616.20M | 613.40M | 594.88M | 636.80M | 667.03M | 704.74M | 724.28M | 787.48M | 764.53M | 777.97M | 808.35M | 740.31M | 643.41M | 588.99M | 586.25M | 569.61M | 584.35M | 576.15M | 551.48M | 493.70M | 249.80M | 95.47M | 62.30M | 16.90M |
| Cost of Revenue | 122.85M | 161.33M | 147.37M | 141.41M | 147.44M | 224.15M | 254.74M | 267.22M | 272.19M | 302.33M | 292.14M | 280.14M | 202.38M | 342.32M | 297.32M | 317.49M | 197.84M | 196.23M | 171.23M | 117.46M | 139.67M | 338.86M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 157.01M | 193.69M | 181.95M | 172.15M | 203.50M | 306.45M | 361.47M | 346.18M | 322.70M | 334.47M | 374.90M | 424.61M | 521.90M | 445.16M | 467.21M | 460.48M | 610.51M | 544.08M | 472.17M | 471.54M | 446.57M | 230.76M | 584.35M | 576.15M | 551.48M | 493.70M | 249.80M | 95.47M | 62.30M | 16.90M |
| Gross Profit Ratio | 56.10% | 54.56% | 55.25% | 54.90% | 57.99% | 57.76% | 58.66% | 56.44% | 54.25% | 52.52% | 56.20% | 60.25% | 72.06% | 56.53% | 61.11% | 59.19% | 75.53% | 73.49% | 73.39% | 80.06% | 76.17% | 40.51% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | -0.17 | -0.47 | -0.37 | 0.55 | 0.26 | 0.05 | 0.21 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 44.47M | 56.17M | 57.20M | 73.64M | 59.80M | 53.99M | 50.95M | 51.98M | 49.15M | 73.17M | 47.68M | 47.87M | 35.54M | 35.00M | 39.81M | 43.98M | 52.16M | 49.08M | 33.09M | 31.79M | 31.46M | 27.05M | 28.49M | 23.28M | 25.48M | 25.57M | 15.86M | 0.00 | 3.70M | 1.20M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 44.47M | 56.17M | 57.20M | 73.64M | 59.80M | 53.99M | 50.95M | 51.98M | 49.15M | 73.17M | 47.68M | 47.87M | 35.54M | 35.00M | 39.81M | 43.98M | 52.16M | 49.08M | 33.09M | 31.79M | 31.46M | 27.05M | 28.49M | 23.28M | 25.48M | 25.57M | 15.86M | 5.80M | 3.70M | 1.20M |
| Other Expenses | 0.00 | 111.52M | 111.62M | 122.04M | 132.02M | 174.85M | 205.17M | 186.68M | 170.40M | 172.49M | 182.77M | 189.01M | 281.06M | 191.17M | 202.54M | 194.64M | 539.66M | 471.17M | 382.44M | 318.92M | 302.99M | 277.64M | 266.16M | 301.37M | 255.86M | 228.62M | 158.49M | 45.47M | -36.50M | -10.00M |
| Operating Expenses | 157.01M | 167.69M | 168.82M | 195.68M | 191.81M | 228.84M | 256.12M | 238.66M | 219.55M | 245.66M | 230.45M | 236.88M | 316.60M | 226.17M | 242.35M | 556.11M | 591.82M | 520.25M | 415.53M | 350.72M | 334.45M | 304.70M | 294.65M | 324.65M | 281.34M | 254.19M | 174.36M | 51.27M | -32.80M | -8.80M |
| Cost & Expenses | 268.53M | 329.02M | 316.19M | 337.09M | 339.25M | 452.99M | 510.85M | 505.88M | 491.74M | 547.99M | 522.58M | 517.01M | 518.98M | 568.49M | 539.67M | 556.11M | 591.82M | 520.25M | 415.53M | 350.72M | 334.45M | 304.70M | 294.65M | 324.65M | 281.34M | 254.19M | 174.36M | 51.27M | -32.80M | -8.80M |
| Interest Income | 5.52M | 729.00K | 524.00K | 43.00K | 2.41M | 3.39M | 2.77M | 1.61M | 794.00K | 3.62M | 2.90M | 35.00K | 39.00K | 86.00K | 571.00K | 1.39M | 4.67M | 3.05M | 856.00K | 1.37M | 1.10M | 2.30M | 2.19M | 0.00 | 0.00 | 2.40M | 0.00 | 0.00 | 300.00K | 100.00K |
| Interest Expense | 139.14M | 78.04M | 65.19M | 80.99M | 90.57M | 83.75M | 93.39M | 94.89M | 103.05M | 112.88M | 123.70M | 122.37M | 125.98M | 149.33M | 141.27M | 128.15M | 126.67M | 136.36M | 119.34M | 109.65M | 116.31M | 107.82M | 112.00M | 105.39M | 0.00 | 88.04M | 0.00 | 12.68M | 8.70M | 1.80M |
| Depreciation & Amortization | 93.59M | 256.30M | 325.46M | 337.09M | 383.56M | 308.28M | 510.89M | 492.78M | 170.40M | 173.85M | 191.52M | 192.16M | 193.01M | 190.67M | 202.54M | 194.64M | 424.00K | 160.86M | 156.10M | 130.25M | 119.16M | 109.51M | 91.47M | 92.09M | 87.21M | 78.92M | 36.83M | 15.81M | 12.10M | 3.80M |
| EBITDA | 104.92M | 139.45M | 121.02M | 94.72M | 384.57M | 376.46M | 307.20M | 329.95M | 74.07M | 286.54M | 225.54M | 351.77M | 398.89M | 404.70M | 410.84M | 416.49M | 273.42M | 380.92M | 383.97M | 228.99M | 370.95M | 371.67M | 393.04M | 343.59M | 371.85M | 318.42M | 112.27M | 60.01M | 107.20M | 29.50M |
| EBITDA Ratio | 37.49% | 39.28% | 36.75% | 30.21% | 45.19% | 50.87% | 49.85% | 53.79% | 45.58% | 41.43% | 50.45% | 54.49% | 55.07% | 53.77% | 55.25% | 52.22% | 65.24% | 48.73% | 58.99% | 62.46% | 63.28% | 65.25% | 67.26% | 59.64% | 67.43% | 64.50% | 44.94% | 62.86% | 172.07% | 174.56% |
| Operating Income | 3.15M | 27.93M | 9.41M | -23.62M | 26.57M | 53.05M | 105.35M | 104.64M | -96.33M | 88.81M | 33.60M | 169.49M | 205.30M | 209.47M | 208.30M | 221.86M | 216.53M | 220.06M | 227.87M | 238.28M | 251.79M | 264.92M | 289.70M | 251.50M | 253.69M | 239.51M | 75.45M | 44.20M | 95.10M | 25.70M |
| Operating Income Ratio | 1.13% | 7.87% | 2.86% | -7.53% | 7.57% | 10.00% | 17.10% | 17.06% | -16.19% | 13.95% | 5.04% | 24.05% | 28.35% | 26.60% | 27.25% | 28.52% | 26.79% | 29.73% | 35.42% | 40.45% | 42.95% | 46.51% | 49.58% | 43.65% | 46.00% | 48.51% | 30.20% | 46.29% | 152.65% | 152.07% |
| Total Other Income/Expenses | -159.85M | -5.40M | -157.27M | -115.50M | 104.17M | -60.18M | -71.63M | 25.66M | -45.72M | -57.42M | -123.28M | -144.01M | 2.02M | -143.80M | -159.95M | -156.98M | -106.07M | -75.39M | -118.27M | -111.10M | -108.74M | -125.20M | -11.86M | -251.50M | -14.50M | 0.00 | -75.45M | 95.63M | 0.00 | 0.00 |
| Income Before Tax | -156.70M | -34.14M | -149.02M | -115.52M | 252.55M | 106.40M | 33.72M | 130.29M | -142.05M | 31.39M | -89.69M | 46.28M | 81.39M | 63.44M | 63.73M | 53.73M | 110.47M | 144.67M | 95.49M | 102.45M | 143.05M | 139.72M | 277.84M | 0.00 | 239.19M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | -55.99% | -9.62% | -45.25% | -36.84% | 71.97% | 20.05% | 5.47% | 21.24% | -23.88% | 4.93% | -13.45% | 6.57% | 11.24% | 8.06% | 8.34% | 6.91% | 13.67% | 19.54% | 14.84% | 17.39% | 24.40% | 24.53% | 47.55% | 0.00% | 43.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 492.00K | 78.04M | 46.43M | 16.71M | 243.73M | 137.10M | 97.84M | 142.09M | 83.58M | 113.28M | 46.60M | 131.82M | 136.49M | 166.87M | 144.87M | 128.38M | 289.21M | 75.39M | 132.38M | 135.82M | 112.10M | 125.20M | 158.04M | 66.17M | 150.41M | 122.93M | 74.04M | 12.25M | 81.50M | 21.80M |
| Net Income | -107.27M | -112.18M | -195.45M | -132.24M | 8.82M | 84.11M | 23.19M | 117.22M | -125.75M | 28.57M | -14.91M | 40.92M | 71.42M | 54.90M | 54.57M | 53.73M | 110.47M | 144.67M | 95.49M | 102.45M | 143.05M | 139.72M | 131.66M | 185.34M | 119.74M | 116.58M | 1.41M | 31.94M | 13.60M | 3.90M |
| Net Income Ratio | -38.33% | -31.60% | -59.35% | -42.17% | 2.51% | 15.85% | 3.76% | 19.11% | -21.14% | 4.49% | -2.24% | 5.81% | 9.86% | 6.97% | 7.14% | 6.91% | 13.67% | 19.54% | 14.84% | 17.39% | 24.40% | 24.53% | 22.53% | 32.17% | 21.71% | 23.61% | 0.56% | 33.46% | 21.83% | 23.08% |
| EPS | -1.22 | -1.23 | -2.15 | -1.46 | 0.10 | 0.84 | 0.06 | 1.31 | -1.41 | 0.32 | -0.17 | 0.47 | 0.81 | 0.67 | 0.71 | 0.79 | 1.62 | 2.29 | 1.52 | 1.66 | 2.45 | 2.44 | 2.33 | 3.18 | 2.05 | 2.09 | 0.04 | 1.73 | 1.23 | 0.38 |
| EPS Diluted | -1.11 | -1.23 | -2.15 | -1.46 | 0.09 | 0.84 | 0.06 | 1.30 | -1.25 | 0.32 | -0.15 | 0.47 | 0.81 | 0.67 | 0.71 | 0.79 | 1.61 | 2.28 | 1.51 | 1.65 | 2.43 | 2.43 | 2.32 | 3.10 | 1.78 | 2.07 | 0.04 | 1.71 | 1.22 | 0.38 |
| Weighted Avg Shares Out | 91.88M | 91.05M | 90.84M | 90.65M | 90.56M | 100.72M | 90.01M | 89.75M | 89.29M | 88.73M | 87.76M | 87.74M | 86.05M | 79.22M | 74.32M | 65.49M | 67.03M | 62.24M | 61.48M | 60.35M | 57.72M | 57.23M | 56.54M | 58.34M | 58.39M | 55.84M | 39.27M | 15.68M | 11.06M | 10.26M |
| Weighted Avg Shares Out (Dil) | 100.81M | 91.05M | 90.84M | 90.65M | 100.69M | 100.72M | 100.70M | 100.50M | 100.22M | 100.04M | 99.79M | 100.00M | 98.96M | 92.48M | 88.39M | 80.65M | 82.50M | 77.90M | 74.19M | 68.74M | 65.98M | 65.48M | 64.79M | 73.07M | 67.13M | 63.89M | 44.16M | 18.65M | 11.15M | 10.26M |
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