Verra Mobility
VRRM on Nasdaq. Verra Mobility sells tolling technology and safety cameras to governments and rental car fleets. Market value $436m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Recent profit includes a big one-time charge, so we price the company excluding that charge.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $22.22 of spare cash in the past 12 months. A savings account pays about $4.
You pay 7.1 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 10 cents a year. Above 10 is good.
Quality score: 72 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.
$2.87 a share, 3% above its 1-year low
Over the past year the price has ranged from $2.78 to $25.45.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $40m | $94m | $104m | $116m | $133m |
| Operating margin | |||||
| Operating margin | 279.8% | 174.6% | 182.3% | 117.2% | 179.3% |
| Debt to equity | |||||
| Debt to equity | 4.78 | 5.25 | 2.46 | 3.90 | 3.51 |
| Shares outstanding | |||||
| Shares outstanding | 0.15bn | 0.17bn | 0.16bn | 0.16bn | 0.15bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)8 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt3.51× equity
- Revenue growth, five yearsStrong, 58.5% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $26 million last quarter, down 22% on a year ago.
- A loss of $48 million, after a profit of $39 million a year ago.
- It keeps 113 cents of each $1 of sales as operating profit, about the same as a year earlier.
- Spare cash over the past 12 months: $97 million, down from $189 million.
- 6% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $985 million more than cash, up from $884 million a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $28m |
| December 2024 | $32m |
| March 2025 | $31m |
| June 2025 | $33m |
| September 2025 | $36m |
| December 2025 | $33m |
| March 2026 | $27m |
| June 2026 | $26m |
| Quarter to | Amount |
|---|---|
| September 2024 | $35m |
| December 2024 | -$67m |
| March 2025 | $32m |
| June 2025 | $39m |
| September 2025 | $47m |
| December 2025 | $19m |
| March 2026 | $27m |
| June 2026 | -$48m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
None of the long-term investors we follow own it. 315 funds in all.
Sold out this quarter
Largest holders overall
- BlackRock$123mAdded
- Ameriprise Financial$40mAdded
- Vanguard Capital Management$28m
- State Street$26m
- D. E. Shaw$25mAdded
- Bank of Montreal /can$25m
- Vanguard Portfolio Management$21mCut
- Millennium Management$20mAdded
- Geode Capital Management$17mCut
- Mackenzie Financial$16mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor7.9%−6.4 ptsSince 30 September 2026
- Ameriprise Financial, Inc.Passive investor6.1%Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.2%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investorSold down below 5%Since 30 June 2026
- T. Rowe Price Associates, Inc.Passive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.9%−6.4 pts | 30 September 2026 | |
Ameriprise Financial, Inc. Passive investor | 6.1% | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.2% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | Sold down below 5% | 30 June 2026 | |
T. Rowe Price Associates, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 3.5× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.