VRS · Verso Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|
| Revenue | $1.28B | $1.36B | $2.44B | $2.46B | - | $3.12B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $76.00M | $77.00M | $104.00M | $107.00M | - | $187.00M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $154.00M | $153.00M | $183.00M | $115.00M | - | $308.00M |
| Operating Income | ($29.00M) | ($128.00M) | ($37.00M) | ($21.00M) | - | ($155.00M) |
| Interest Expense | $2.00M | $1.00M | $2.00M | $38.00M | - | $270.00M |
| Income Tax | ($3.00M) | ($9.00M) | ($117.00M) | ($8.00M) | - | ($3.00M) |
| Net Income | ($3.00M) | ($101.00M) | $96.00M | ($30.00M) | - | ($422.00M) |
| EPS - Basic | ($0.09) | ($2.95) | $2.78 | ($0.87) | - | ($5.19) |
| EPS - Diluted | ($0.09) | ($2.95) | $2.74 | ($0.87) | - | ($5.19) |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $172.00M | $137.00M | $42.00M | $26.00M | $7.00M | $4.00M |
| Accounts Receivable | $106.00M | $83.00M | $155.00M | $197.00M | $208.00M | $226.00M |
| Inventory | $127.00M | $224.00M | $395.00M | $398.00M | $385.00M | $484.00M |
| Accounts Payable | $99.00M | $80.00M | $188.00M | $215.00M | $176.00M | $113.00M |
| Current Assets | $415.00M | $466.00M | $599.00M | $633.00M | $614.00M | $751.00M |
| Total Assets | $1.05B | $1.25B | $1.72B | $1.70B | $1.73B | $2.71B |
| Current Liabilities | $168.00M | $173.00M | $293.00M | $333.00M | $365.00M | $3.26B |
| Long-term Debt | - | - | - | $0 | $130.00M | $0 |
| Total Liabilities | $356.00M | $561.00M | $708.00M | $793.00M | $986.00M | $3.89B |
| Stockholders' Equity | $699.00M | $684.00M | $1.01B | $906.00M | $746.00M | ($1.18B) |
| Retained Earnings | ($57.00M) | ($42.00M) | $198.00M | $102.00M | ($62.00M) | ($1.40B) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $180.00M | ($62.00M) | $125.00M | $153.00M | - | ($27.00M) |
| Investing Cash Flow | ($42.00M) | $303.00M | ($104.00M) | ($40.00M) | - | ($14.00M) |
| Financing Cash Flow | ($103.00M) | ($146.00M) | ($5.00M) | ($113.00M) | - | ($9.00M) |
| CapEx | $66.00M | $48.00M | $105.00M | $40.00M | - | $64.00M |
| Free Cash Flow | $114.00M | ($110.00M) | $20.00M | $113.00M | - | ($91.00M) |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -2.3% | -9.4% | -1.5% | -0.9% | - | -5.0% |
| EBITDA margin | 9.8% | 1.8% | 6.0% | 3.8% | - | 4.9% |
| Net margin | -0.2% | -7.4% | 3.9% | -1.2% | - | -13.5% |
| Free cash flow margin | 8.9% | -8.1% | 0.8% | 4.6% | - | -2.9% |
| FCF / Net income | -38.00 | 1.09 | 0.21 | -3.77 | - | 0.22 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.9% | 5.7% | 4.3% | 4.3% | - | 6.0% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -0.3% | -8.1% | 5.6% | -1.8% | - | -15.6% |
| Return on equity | -0.4% | -14.8% | 9.5% | -3.3% | - | 35.7% |
| Return on invested capital | - | - | - | -1.8% | - | - |
| Liquidity | ||||||
| Current ratio | 2.47 | 2.69 | 2.04 | 1.90 | 1.68 | 0.23 |
| Quick ratio | 1.71 | 1.40 | 0.70 | 0.71 | 0.63 | 0.08 |
| Cash ratio | 1.02 | 0.79 | 0.14 | 0.08 | 0.02 | 0.00 |
| Leverage | ||||||
| Debt / Equity | - | - | - | 0.00 | 0.17 | 0.00 |
| Debt / Assets | - | - | - | 0.00 | 0.08 | 0.00 |
| Debt / EBITDA | - | - | - | 0.00 | - | 0.00 |
| Interest coverage | -14.5x | -128.0x | -18.5x | -0.6x | - | -0.6x |
| Equity multiplier | 1.51 | 1.82 | 1.70 | 1.88 | 2.32 | -2.29 |
| Liabilities / Assets | 0.34 | 0.45 | 0.41 | 0.47 | 0.57 | 1.44 |
| Efficiency | ||||||
| Asset turnover | 1.21 | 1.09 | 1.42 | 1.45 | - | 1.15 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 30d | 22d | 23d | 29d | - | 26d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -6.0% | -44.4% | -0.7% | - | - | 140.8% |
| Revenue CAGR (3y) | -19.6% | - | - | -7.6% | - | 28.4% |
| Revenue CAGR (5y) | - | -15.3% | 13.5% | 12.1% | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 77.3% | -245.9% | -76.2% | - | - | 11.3% |
| Net income growth (YoY) | 97.0% | - | - | - | - | -19.6% |
| EPS growth (YoY) | 96.9% | - | - | - | - | 21.6% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -82.3% | - | - | 8.8% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 2.2% | -32.5% | 11.8% | 21.4% | - | -50.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$1.28B totalPaper Segment$1.15B · 89.6%
Pulp Segment$133.00M · 10.4%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
2.07
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Paper Mills
Comparing Verso Corp against the 5 most active filers in the same SIC group.