Vesta Real Estate Corporation Financials
This page shows Vesta Real Estate Corporation (VTMX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A cash-converting, near-debtless asset platform is expanding through large investing outlays rather than capex-heavy maintenance or borrowing.
From FY2023 through FY2025, operating cash flow and free cash flow moved almost in lockstep, showing that reported cash generation needed very little maintenance reinvestment. In FY2025, capex was just$837K while total investing outflows reached$336M , so growth spending sits outside routine upkeep and does not look debt-driven.
The balance sheet is unusual for a company with
Recently, net income stayed close to the revenue base even as return on assets fell from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Vesta Real Estate Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Vesta Real Estate Corporation's revenue grew 12.2% year-over-year to $283.2M, a solid pace of expansion. This earns a growth score of 58/100.
Vesta Real Estate Corporation carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.84, Vesta Real Estate Corporation holds $4.84 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 97/100.
Vesta Real Estate Corporation converts 72.9% of revenue into free cash flow ($206.4M). This strong cash generation earns a score of 100/100.
Vesta Real Estate Corporation's ROE of 8.8% shows moderate profitability relative to equity, earning a score of 32/100. This is up from 8.6% the prior year.
Vesta Real Estate Corporation passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Vesta Real Estate Corporation generates $0.86 in operating cash flow ($207.3M OCF vs $241.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Vesta Real Estate Corporation generated $283.2M in revenue in fiscal year 2025. This represents an increase of 12.2% from the prior year.
Vesta Real Estate Corporation reported $241.9M in net income in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Cash & Balance Sheet
Vesta Real Estate Corporation generated $206.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 59.9% from the prior year.
Vesta Real Estate Corporation held $336.9M in cash against $815K in long-term debt as of fiscal year 2025.
Margins & Returns
Vesta Real Estate Corporation's net profit margin was 85.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.1 percentage points from the prior year.
Vesta Real Estate Corporation's ROE was 8.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.
Capital Allocation
Vesta Real Estate Corporation invested $837K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 40.2% from the prior year.
VTMX Income Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A |
VTMX Balance Sheet
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Total Assets | $4.5B+14.8% | $4.0B+4.4% | $3.8B+28.4% | $3.0B+7.0% | $2.8B |
| Current Assets | $397.4M+63.0% | $243.8M-57.0% | $566.4M+180.1% | $202.2M-58.0% | $481.7M |
| Cash & Equivalents | $336.9M+83.1% | $184.0M-63.3% | $501.1M+260.4% | $139.1M-69.3% | $452.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.8B+31.9% | $1.4B+4.2% | $1.3B-0.6% | $1.3B+0.5% | $1.3B |
| Current Liabilities | $82.1M-9.6% | $90.8M-38.5% | $147.6M+145.7% | $60.0M-10.7% | $67.2M |
| Long-Term Debt | $815K+444.1% | $150K-48.4% | $290K-67.7% | $898K-2.0% | $916K |
| Total Equity | $2.7B+5.8% | $2.6B+4.4% | $2.5B+51.7% | $1.6B+12.8% | $1.5B |
| Retained Earnings | $1.3B+15.0% | $1.1B+16.0% | $989.7M+35.0% | $733.4M+34.0% | $547.2M |
VTMX Cash Flow Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A |
VTMX Financial Ratios
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 4.84+2.2 | 2.68-1.2 | 3.84+0.5 | 3.37-3.8 | 7.17 |
| Debt-to-Equity | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Vesta Real Estate Corporation's annual revenue?
Vesta Real Estate Corporation (VTMX) reported $283.2M in total revenue for fiscal year 2025. This represents a 12.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Vesta Real Estate Corporation's revenue growing?
Vesta Real Estate Corporation (VTMX) revenue grew by 12.2% year-over-year, from $252.3M to $283.2M in fiscal year 2025.
Is Vesta Real Estate Corporation profitable?
Yes, Vesta Real Estate Corporation (VTMX) reported a net income of $241.9M in fiscal year 2025, with a net profit margin of 85.4%.
How much debt does Vesta Real Estate Corporation have?
As of fiscal year 2025, Vesta Real Estate Corporation (VTMX) had $336.9M in cash and equivalents against $815K in long-term debt.
What is Vesta Real Estate Corporation's net profit margin?
Vesta Real Estate Corporation (VTMX) had a net profit margin of 85.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Vesta Real Estate Corporation's return on equity (ROE)?
Vesta Real Estate Corporation (VTMX) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vesta Real Estate Corporation's free cash flow?
Vesta Real Estate Corporation (VTMX) generated $206.4M in free cash flow during fiscal year 2025. This represents a 59.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Vesta Real Estate Corporation's operating cash flow?
Vesta Real Estate Corporation (VTMX) generated $207.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Vesta Real Estate Corporation's total assets?
Vesta Real Estate Corporation (VTMX) had $4.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vesta Real Estate Corporation's capital expenditures?
Vesta Real Estate Corporation (VTMX) invested $837K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vesta Real Estate Corporation's current ratio?
Vesta Real Estate Corporation (VTMX) had a current ratio of 4.84 as of fiscal year 2025, which is generally considered healthy.
What is Vesta Real Estate Corporation's debt-to-equity ratio?
Vesta Real Estate Corporation (VTMX) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vesta Real Estate Corporation's return on assets (ROA)?
Vesta Real Estate Corporation (VTMX) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vesta Real Estate Corporation's Piotroski F-Score?
Vesta Real Estate Corporation (VTMX) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vesta Real Estate Corporation's earnings high quality?
Vesta Real Estate Corporation (VTMX) has an earnings quality ratio of 0.86x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Vesta Real Estate Corporation?
Vesta Real Estate Corporation (VTMX) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.