At a glance
Verra Mobility Corp is worth $477.3M, about 4 times its fiscal 2025 earnings. Revenue grew 11.4% to $979.1M in fiscal 2025, with 14.0% kept as profit; over 5 years it has grown 20.0% a year. It pays no dividend; it spent $658.5M buying back its shares over FY2021–FY2025. The stock returned −86.9% over the past year with dividends reinvested and −26.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 65.6% in the 2020 crash (S&P 500: 33.7%) and 28.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 23 months and 13 months after the lows.
The business in plain English
Verra Mobility runs the behind-the-scenes systems for tolls, traffic fines, road safety cameras and parking. It operates mainly in the United States, plus Australia, Europe and Canada. Customers include rental car companies, other commercial fleet owners, cities, states, school districts, law enforcement agencies, universities, hospitals and parking operators. Revenue for the year ended December 31, 2025, was about $979 million, split across three segments.
Government Solutions is the largest segment, at about $461 million (47% of revenue). It installs and runs red-light, speed, school bus and bus lane cameras for government customers, then handles citation mailing and billing. Service contracts usually start at three to five years, with renewal options. Commercial Services brought in about $436 million (45%). It pays tolls and fines for rental and fleet vehicles, then bills the drivers or shifts legal responsibility to them. It also manages vehicle titles and registrations. Its long-standing customers include Avis Budget Group, Enterprise Mobility and The Hertz Corporation. Toll management alone made up about 39% of total revenue.
Parking Solutions is the smallest segment, at about $83 million (8%). It sells parking software, pay stations and payment processing to about 1,775 customers, as of December 31, 2025. It handled about 180 million parking transactions in 2025.
Price history
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VRRM -86.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Government Solutions Segment | $460.7M | 47.1% |
| Commercial Services Segment | $435.8M | 44.5% |
| Parking Solutions | $82.6M | 8.4% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $258.9M, down 1.2% from a year earlier, and net income was $40.4M (-13.8%).
- For fiscal 2025, revenue was $979.1M (+11.4% year over year; +20.0% a year from FY2020 to FY2025) with a 14% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +20.0% good |
|---|---|
| Operating margin | 24.4% good |
| Free cash flow margin | 14% good |
| Return on equity (FY2025) | 46.6% good |
| Return on assets (FY2025) | 8.3% good |
| Net cash (cash minus debt) | $-891.2M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $393.6M | $-4.6M | $22.6M |
| FY2021 | $550.6M | $41.4M | $168.2M |
| FY2022 | $741.6M | $92.5M | $170.2M |
| FY2023 | $817.3M | $57.0M | $149.1M |
| FY2024 | $879.2M | $31.4M | $152.8M |
| FY2025 | $979.1M | $136.6M | $136.7M |
Valuation snapshot
| Market value | $477.3M |
|---|---|
| P/E ratio | 3.7 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Verra Mobility’s market value went from $2.23B at the end of 2019 to $477.3M on Oct 28, 2026, down 79%; since the end of 2025 it is down 87%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $477.3M | -86.7% |
| 2025 | $3.58B | -10.3% |
| 2024 | $3.98B | +4.0% |
| 2023 | $3.83B | +84.8% |
| 2022 | $2.07B | -13.9% |
| 2021 | $2.41B | +10.6% |
| 2020 | $2.18B | -2.2% |
| 2019 | $2.23B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| VRRM price data to Oct 28, 2026 | -86.0% | -86.9% | -45.6% | -26.9% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -86.0% |
| 2025 | -7.3% |
| 2024 | +5.0% |
| 2023 | +66.5% |
| 2022 | -10.4% |
| 2021 | +15.0% |
| 2020 | -4.1% |
| 2019 | +43.3% |
| 2018 | -1.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 65.6% over that stretch · deepest drop along the way 65.6%, back to its old high 22.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 0.2% over that stretch · deepest drop along the way 28.8%, back to its old high 12.7 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7.9% | Sep 30, 2026 |
| Ameriprise Financial, Inc. | 6.1% | Jun 30, 2026 |
| Vanguard Capital Management | 4.99% | Sep 30, 2026 |
| Vanguard Portfolio Management | 3.61% | Jun 30, 2026 |
| T. Rowe Price Associates, Inc. | 0.2% | Jun 30, 2026 |
ETFs with the most weight in VRRM
| TMFS Motley Fool Small-Cap Growth ETF | 3.34% |
| SOVF Sovereign's Capital Flourish Fund | 1.12% |
| FSGS First Trust SMID Growth Strength ETF | 1.01% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 0.67% |
| CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF | 0.58% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.57% |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 0.56% |
| RZG Invesco S&P SmallCap 600® Pure Growth ETF | 0.53% |
What could go wrong
- Big customers, led by New York City. Several large customers, including New York City's transportation department, bring in a significant share of revenue. Its new contract, effective January 1, 2026, includes preset penalties and service credits if Verra misses performance targets.
- Political pushback against traffic cameras. Revenue depends on public and political support for red-light and speed cameras, outsourced toll processing and the fees the company charges. New limits or bans on any of these could cut revenue.
- A heavy debt load. As of June 30, 2026, total debt was about $1.03 billion against cash and investments of about $55 million. Loan terms limit flexibility, and a default on one loan could trigger others.
- Government contracts can end or pay late. Government customers can cancel contracts, delay payment, wait on budget approvals or launch audits. Winning and renewing contracts often requires competitive bidding, which is costly and can be lost to rivals.
- Travel slowdowns hit the toll business. Commercial Services depends on rental car and fleet vehicles using toll roads. Weaker travel demand, extreme weather, higher airfares or an economic downturn could cut volumes and revenue.
- Competition from customers and self-driving cars. Fleet customers may build their own toll and fine systems instead of paying Verra. Over time, self-driving cars could mean fewer red-light and speeding violations for its cameras to catch.
Recent events
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Executive or board change
- Other company announcement
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Verra Mobility pays no dividend and paid none from FY2021 through FY2025, so it offers no regular income. Any return depends on the share price. Instead, it spent about $658 million repurchasing its own shares over those five years. Even so, the share count fell only about 2.6%, from about 156.1 million on November 1, 2021, to about 152.0 million on August 31, 2026. The 10-K also warns that the company relies on its operating subsidiaries for cash, so it may lack the funds to pay dividends.
The stock has fallen hard in past downturns. In the 2020 COVID crash, it dropped about 66% between February 20 and March 23, 2020, and took about 23 months to recover. In the 2022 bear market, it fell about 29% at its worst and recovered in about 13 months. As of October 28, 2026, the shares were down about 87% over one year. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Verra Mobility make money?
Verra Mobility makes money by running toll, traffic-fine, safety-camera and parking systems for vehicle fleets and governments. In the year ended December 31, 2025, Government Solutions brought in about 47% of its roughly $979 million in revenue, mainly from red-light, speed, school bus and bus lane cameras. Commercial Services, which pays tolls and fines for rental car and fleet vehicles and then bills drivers, brought in about 45%. Parking Solutions, which sells parking software, pay stations and payment processing, made up about 8%.
Does Verra Mobility pay a dividend?
No. Verra Mobility does not pay a dividend and paid none from FY2021 through FY2025. Instead, it returned cash by repurchasing its own shares, spending about $658 million over those five years. For income investors, that means no regular cash payments, and any return depends on the share price. The 10-K also warns that the company relies on its operating subsidiaries for cash, so it may not have enough to pay dividends.
Who are Verra Mobility's biggest customers?
Verra Mobility's key customers include New York City's Department of Transportation and the three largest US rental car companies: Avis Budget Group, Enterprise Mobility and The Hertz Corporation. The company says several large customers bring in a significant share of revenue. Its New York City contract expired on December 31, 2025. A new one took effect January 1, 2026, with materially different terms. These include service-level targets, service credits, preset penalties, and cybersecurity and subcontracting requirements.
How much debt does Verra Mobility have?
Verra Mobility had about $1.03 billion of total debt as of June 30, 2026, against about $55 million in cash and investments. That left net debt (debt minus cash) of about $980 million. Shareholders' equity was about $224 million. The company's stock market value was about $477 million as of October 28, 2026. The 10-K warns that loan covenants (rules set by lenders) could limit flexibility. It also warns that a default on one debt agreement could make others due immediately.
Why is Verra Mobility's P/E ratio so low?
Largely because the share price fell sharply while the ratio still uses 2025 profits. As of October 28, 2026, the P/E (share price divided by yearly earnings per share) was about 3.7. That was based on FY2025 diluted earnings of $0.85 per share, after the share price fell about 86% from the start of 2026. In the quarter ended June 30, 2026, the company reported a net loss of about $48 million, against a profit a year earlier. A P/E based on older earnings can look misleadingly cheap if profits fall.