NYSE : VTMX
Corporación Inmobiliaria Vesta, S.A.B. de C.V. — Financial statements
Real Estate · Real Estate - Development · Mexico
Last price 36.09 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.36B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 311.25M | 283.19M | 251.95M | 213.45M | 178.03M | 160.70M |
| Property Management Fees | 31.44K | 376.62K | 1.02M | 87.97K | ||
| Other Revenue | 69.89K | 11.54K | ||||
| Total Revenue | 311.32M | 283.24M | 252.33M | 214.47M | 178.03M | 160.79M |
| Property Expenses | 32.92M | 28.28M | 24.59M | 18.24M | 11.42M | 10.73M |
| Selling, General & Administrative | 38.20M | 35.49M | 34.18M | 31.72M | 24.41M | 21.40M |
| Other Operating Expenses | 6.67M | 3.52M | 5.15M | 3.04M | 373.99K | |
| Total Operating Expenses | 77.79M | 67.29M | 63.92M | 53.00M | 36.21M | 32.13M |
| Operating Income | 233.53M | 215.94M | 188.40M | 161.47M | 141.81M | 128.66M |
| Interest Expense | -72.62M | -53.10M | -41.94M | -44.34M | -44.85M | -45.48M |
| Interest & Investment Income | 10.42M | 5.27M | 15.19M | 9.41M | 2.64M | 76.87K |
| Currency Exchange Gain (Loss) | 2.30M | 10.10M | -10.84M | 8.91M | 1.94M | -1.11M |
| Other Non-Operating Income | 6.13M | 2.72M | 1.85M | 719.49K | -213.26K | -4.75M |
| EBT Excluding Unusual Items | 179.76M | 180.94M | 152.66M | 136.18M | 101.33M | 77.39M |
| Gain (Loss) on Sale of Assets | 1.00 | -9.95K | 2.62M | -461.60K | 5.03M | 13.99M |
| Total Insurance Settlements | 721.92K | 969.03K | 139.41K | 2.45M | ||
| Asset Writedown | 218.67M | 52.08M | 270.75M | 243.46M | 185.49M | 164.65M |
| Pretax Income | 399.15M | 233.97M | 426.16M | 381.62M | 291.85M | 256.03M |
| Income Tax Expense | -88.58M | -7.93M | 202.82M | 64.98M | 48.22M | 82.09M |
| Net Income | 487.73M | 241.90M | 223.35M | 316.64M | 243.62M | 173.94M |
| Net Income to Common | 487.73M | 241.90M | 223.35M | 316.64M | 243.62M | 173.94M |
| Basic Shares Outstanding | 878.10M | 848.89M | 871.37M | 756.96M | 682.64M | 648.42M |
| Diluted Shares Outstanding | 889.42M | 861.12M | 883.29M | 768.85M | 694.25M | 692.93M |
| EPS (Basic) | 0.56 | 0.28 | 0.26 | 0.42 | 0.36 | 0.27 |
| EPS (Diluted) | 0.55 | 0.28 | 0.25 | 0.41 | 0.35 | 0.26 |
| Dividend Per Share | 0.08 | 0.08 | 0.07 | 0.07 | 0.09 | 0.08 |
| Operating Margin | 75.01% | 76.24% | 74.67% | 75.29% | 79.66% | 80.02% |
| Profit Margin | 156.67% | 85.41% | 88.52% | 147.64% | 136.85% | 108.18% |
| EBITDA | 234.72M | 216.91M | 189.16M | 162.45M | 142.72M | 129.80M |
| EBITDA Margin | 75.40% | 76.58% | 74.97% | 75.74% | 80.16% | 80.73% |
| D&A For Ebitda | 1.19M | 967.26K | 753.03K | 974.29K | 901.49K | 1.14M |
| EBIT | 233.53M | 215.94M | 188.40M | 161.47M | 141.81M | 128.66M |
| EBIT Margin | 75.01% | 76.24% | 74.67% | 75.29% | 79.66% | 80.02% |
| Funds From Operations (FFO) | 175.70M | 174.90M | 160.10M | |||
| Adjusted Funds From Operations (AFFO) | 174.90M | 160.10M | ||||
| FFO Payout Ratio | 41.06% | 39.07% | 39.77% | |||
| Effective Tax Rate | 47.59% | 17.03% | 16.52% | 32.06% | ||
| Revenue as Reported | 311.25M | 283.22M | 252.33M | 214.47M | 178.03M | 160.79M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 4.48B | 4.13B | 3.70B | 3.22B | 2.74B | 2.27B |
| Cash & Equivalents | 239.98M | 336.88M | 183.99M | 501.09M | 139.06M | 452.80M |
| Accounts Receivable | 9.32M | 8.77M | 4.68M | 10.10M | 7.69M | 9.04M |
| Other Receivables | 51.78M | 49.18M | 53.65M | 34.19M | 37.57M | 19.38M |
| Restricted Cash | 20.44K | 19.81K | 127.80K | 72.22K | 90.22K | 19.08K |
| Other Current Assets | 7.60M | 2.50M | 1.31M | 20.97M | 17.82M | 483.58K |
| Other Long-Term Assets | 13.40M | 11.99M | 14.50M | 10.24M | 9.60M | 11.51M |
| Total Assets | 4.81B | 4.54B | 3.96B | 3.79B | 2.95B | 2.76B |
| Current Portion of Long-Term Debt | 1.78M | 49.86M | 69.61M | 4.63M | 2.88M | |
| Current Portion of Leases | 640.51K | 641.30K | 408.37K | 607.48K | 606.28K | 464.46K |
| Long-Term Debt | 1.07B | 1.27B | 797.19M | 845.57M | 925.87M | 930.65M |
| Long-Term Leases | 503.01K | 814.75K | 149.74K | 290.17K | 897.66K | 915.96K |
| Accounts Payable | 31.22M | 30.80M | 14.19M | 13.19M | 16.63M | 3.01M |
| Accrued Expenses | 19.53M | 17.32M | 9.55M | 10.23M | 9.00M | 19.09M |
| Current Income Taxes Payable | 496.03K | 14.15M | 646.81K | 38.77M | 14.82M | 27.84M |
| Other Current Liabilities | 37.38M | 17.38M | 16.17M | 15.16M | 14.36M | 13.94M |
| Long-Term Deferred Tax Liabilities | 334.04M | 381.28M | 442.84M | 276.91M | 299.98M | 291.58M |
| Other Long-Term Liabilities | 45.81M | 53.44M | 27.41M | 33.39M | 26.22M | 15.87M |
| Total Liabilities | 1.55B | 1.79B | 1.36B | 1.31B | 1.31B | 1.31B |
| Common Stock | 627.57M | 579.98M | 585.49M | 591.60M | 480.62M | 482.86M |
| Additional Paid-In Capital | 1.11B | 884.17M | 905.72M | 934.94M | 460.68M | 466.23M |
| Retained Earnings | 1.56B | 1.32B | 1.15B | 989.74M | 733.41M | 547.21M |
| Comprehensive Income & Other | -37.61M | -37.16M | -42.32M | -29.31M | -34.92M | -42.68M |
| Shareholders' Equity | 3.26B | 2.75B | 2.60B | 2.49B | 1.64B | 1.45B |
| Total Liabilities & Equity | 4.81B | 4.54B | 3.96B | 3.79B | 2.95B | 2.76B |
| Total Debt | 1.07B | 1.28B | 847.61M | 916.08M | 932.00M | 934.91M |
| Net Cash (Debt) | -833.30M | -939.78M | -663.62M | -414.99M | -792.95M | -482.11M |
| Net Cash Per Share | -0.94 | -1.09 | -0.75 | -0.54 | -1.14 | -0.70 |
| Filing Date Shares Outstanding | 928.20M | 807.54M | 829.78M | 855.73M | 661.17M | 670.27M |
| Total Common Shares Outstanding | 928.20M | 807.54M | 829.78M | 855.73M | 661.17M | 670.27M |
| Book Value Per Share | 3.51 | 3.40 | 3.13 | 2.91 | 2.48 | 2.17 |
| Tangible Book Value | 3.26B | 2.75B | 2.60B | 2.49B | 1.64B | 1.45B |
| Tangible Book Value Per Share | 3.51 | 3.40 | 3.13 | 2.91 | 2.48 | 2.17 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 487.73M | 241.90M | 223.35M | 316.64M | 243.62M | 173.94M |
| Depreciation & Amortization | 1.94M | 1.72M | 1.42M | 1.58M | 1.46M | 1.60M |
| Other Amortization | 4.59M | 3.13M | 2.32M | 1.97M | 1.54M | 4.78M |
| Gain (Loss) on Sale of Assets | -1.00 | 9.95K | -2.62M | 461.60K | -5.03M | -13.99M |
| Asset Writedown | -218.67M | -52.08M | -270.75M | -243.46M | -185.49M | -164.65M |
| Stock-Based Compensation | 10.01M | 12.73M | 8.98M | 8.00M | 6.65M | 5.55M |
| Income (Loss) on Equity Investments | -69.81K | -11.54K | ||||
| Change in Accounts Receivable | -333.09K | -4.09M | 5.42M | -2.41M | 1.35M | -2.68M |
| Change in Accounts Payable | -23.70M | -787.49K | -8.51M | 3.26K | -1.62M | -230.18K |
| Change in Other Net Operating Assets | 4.40M | 1.26M | 20.92M | 12.14M | -23.06M | 5.81M |
| Other Operating Activities | -86.53M | -1.83M | 168.14M | 53.65M | 36.49M | 102.30M |
| Operating Cash Flow | 187.79M | 207.25M | 129.71M | 144.80M | 65.21M | 107.93M |
| Acquisition of Real Estate Assets | -273.79M | -337.77M | -231.74M | -265.13M | -269.44M | -108.61M |
| Sale of Real Estate Assets | 5.50M | 5.07M | 42.06M | 7.29M | 124.57M | |
| Net Sale / Acq. of Real Estate Assets | -273.79M | -332.27M | -226.67M | -223.07M | -262.16M | 15.95M |
| Investment in Marketable & Equity Securities | -2.34M | -3.52M | ||||
| Investing Cash Flow | -276.14M | -335.79M | -226.67M | -223.07M | -262.16M | 15.95M |
| Long-Term Debt Issued | 650.00M | 350.00M | ||||
| Long-Term Debt Repaid | -214.43M | -70.40M | -17.40M | -647.96K | -253.06M | |
| Lease Payments | -804.46K | -834.28K | -790.81K | -606.28K | -647.96K | -564.68K |
| Net Debt Issued (Repaid) | -371.40M | 435.57M | -70.40M | -17.40M | -647.96K | 96.94M |
| Issuance of Common Stock | 269.02M | 594.38M | 229.22M | |||
| Repurchase of Common Stock | -36.42M | -44.17M | -15.60M | |||
| Common Dividends Paid | -72.15M | -68.33M | -63.67M | -59.51M | -57.02M | -55.37M |
| Other Financing Activities | -74.86M | -51.23M | -47.65M | -72.73M | -46.51M | -58.24M |
| Foreign Exchange Rate Adjustments | -10.07M | 1.73M | 5.80M | -4.45M | 3.05M | -4.15M |
| Net Cash Flow | -347.79M | 152.78M | -317.05M | 362.02M | -313.67M | 332.28M |
| Levered Free Cash Flow | 156.42M | 156.91M | 72.47M | 103.05M | 26.72M | 95.10M |
| Unlevered Free Cash Flow | 197.22M | 186.97M | 96.36M | 128.79M | 53.20M | 118.74M |
| Cash Interest Paid | 67.17M | 45.88M | 42.09M | 45.03M | 44.84M | 44.47M |
| Cash Income Tax Paid | 67.96M | 40.12M | 75.01M | 64.10M | 55.00M | 27.06M |
| Change in Working Capital | -11.21M | 1.68M | -1.14M | 5.96M | -34.04M | -1.61M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.36B | 2.47B | 2.18B | 3.41B | 1.58B | 1.35B |
| Enterprise Value | 4.16B | 3.35B | 2.71B | 3.95B | 2.26B | 1.91B |
| Last Close Price | 36.09 | 29.86 | 24.39 | 37.07 | ||
| PE Ratio | 6.86 | 10.21 | 9.76 | 10.78 | 6.47 | 7.75 |
| PS Ratio | 10.78 | 8.72 | 8.64 | 15.91 | 8.86 | 8.38 |
| PB Ratio | 1.03 | 0.90 | 0.84 | 1.37 | 0.96 | 0.93 |
| P/OCF Ratio | 17.88 | 11.92 | 16.81 | 23.57 | 24.17 | 12.49 |
| EV/Sales Ratio | 13.35 | 11.82 | 10.75 | 18.42 | 12.68 | 11.87 |
| EV/EBITDA Ratio | 17.71 | 15.43 | 14.34 | 24.32 | 15.82 | 14.71 |
| EV/EBIT Ratio | 17.80 | 15.50 | 14.40 | 24.46 | 15.92 | 14.84 |
| Debt / Equity Ratio | 0.33 | 0.47 | 0.33 | 0.37 | 0.57 | 0.64 |
| Debt / EBITDA Ratio | 4.56 | 5.87 | 4.47 | 5.62 | 6.50 | 7.18 |
| Net Debt / Equity Ratio | 0.26 | 0.34 | 0.26 | 0.17 | 0.48 | 0.33 |
| Net Debt / EBITDA Ratio | 3.55 | 4.33 | 3.51 | 2.56 | 5.56 | 3.71 |
| Asset Turnover | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 |
| Quick Ratio | 3.37 | 4.81 | 2.67 | 3.70 | 3.07 | 7.16 |
| Current Ratio | 3.46 | 4.84 | 2.68 | 3.84 | 3.37 | 7.17 |
| Return on Equity (ROE) | 16.72% | 9.05% | 8.79% | 15.35% | 15.75% | 13.58% |
| Return on Assets (ROA) | 3.10% | 3.18% | 3.04% | 2.99% | 3.10% | 3.21% |
| Return on Invested Capital (ROIC) | 5.39% | 5.78% | 2.88% | 4.49% | 4.77% | 4.03% |
| Earnings Yield | 14.57% | 9.79% | 10.25% | 9.28% | 15.45% | 12.90% |
| Dividend Yield | 2.28% | 2.77% | 2.74% | 1.80% | 3.68% | 4.13% |
| Payout Ratio | 15.68% | 28.24% | 28.51% | 18.79% | 23.40% | 31.83% |
| Buyback Yield / Dilution | -3.32% | 2.51% | -14.89% | -10.74% | -0.19% | -20.80% |
| Total Shareholder Return | -1.03% | 5.28% | -12.14% | -8.94% | 3.49% | -16.68% |