NYSE : VVX
V2X, Inc. — Financial statements
Industrials · Aerospace & Defense · United States
Last price 80.37 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.52B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
V2X, Inc. (VVX) reported revenue of 4.90B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.90B | 4.48B | 4.32B | 3.96B | 2.89B | 1.78B |
| Cost of Revenue | 4.48B | 4.11B | 3.98B | 3.63B | 2.60B | 1.62B |
| Gross Profit | 414.87M | 373.38M | 342.96M | 334.86M | 295.01M | 160.42M |
| Selling, General & Admin | 209.94M | 179.11M | 183.76M | 210.44M | 199.34M | 98.40M |
| Operating Expenses | 209.94M | 179.11M | 183.76M | 210.44M | 199.34M | 98.40M |
| Operating Income | 204.93M | 194.27M | 159.20M | 124.42M | 95.67M | 62.02M |
| Interest Expense | -80.13M | -82.34M | -109.16M | -122.44M | -61.88M | -7.99M |
| Interest & Investment Income | 5.71M | 2.44M | 1.26M | |||
| Other Non Operating Income (Expenses) | -10.64M | -10.93M | -10.47M | -4.19M | ||
| EBT Excluding Unusual Items | 119.87M | 103.43M | 40.84M | -2.22M | 33.79M | 54.03M |
| Merger & Restructuring Charges | -39.90M | |||||
| Asset Writedown | -2.19M | |||||
| Other Unusual Items | -1.74M | -2.53M | 195.00K | -22.30M | ||
| Pretax Income | 118.13M | 100.90M | 38.84M | -24.52M | -6.11M | 54.03M |
| Income Tax Expense | 26.28M | 23.02M | 4.16M | -1.95M | 8.22M | 8.31M |
| Net Income | 91.85M | 77.88M | 34.68M | -22.57M | -14.33M | 45.73M |
| Net Income to Common | 91.85M | 77.88M | 34.68M | -22.57M | -14.33M | 45.73M |
| Shares Outstanding (Basic) | 31.37M | 31.56M | 31.48M | 31.08M | 21.00M | 11.71M |
| Shares Outstanding (Diluted) | 31.64M | 31.82M | 31.97M | 31.08M | 21.00M | 11.84M |
| EPS (Basic) | 2.93 | 2.47 | 1.10 | -0.73 | -0.68 | 3.91 |
| EPS (Diluted) | 2.90 | 2.45 | 1.08 | -0.73 | -0.68 | 3.86 |
| Free Cash Flow | 130.45M | 170.07M | 242.45M | 162.95M | 81.07M | 51.56M |
| Free Cash Flow Per Share | 4.12 | 5.34 | 7.58 | 5.24 | 3.86 | 4.36 |
| Gross Margin | 8.47% | 8.33% | 7.94% | 8.45% | 10.21% | 8.99% |
| Operating Margin | 4.18% | 4.34% | 3.68% | 3.14% | 3.31% | 3.48% |
| Profit Margin | 1.88% | 1.74% | 0.80% | -0.57% | -0.50% | 2.56% |
| Free Cash Flow Margin | 2.66% | 3.80% | 5.61% | 4.11% | 2.80% | 2.89% |
| EBITDA | 313.11M | 301.88M | 270.77M | 237.25M | 157.79M | 78.57M |
| EBITDA Margin | 6.39% | 6.74% | 6.26% | 5.99% | 5.46% | 4.41% |
| D&A For EBITDA | 108.17M | 107.61M | 111.57M | 112.83M | 62.12M | 16.55M |
| EBIT | 204.93M | 194.27M | 159.20M | 124.42M | 95.67M | 62.02M |
| EBIT Margin | 4.18% | 4.34% | 3.68% | 3.14% | 3.31% | 3.48% |
| Effective Tax Rate | 22.25% | 22.81% | 10.70% | 15.37% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 210.31M | 365.99M | 265.22M | 70.65M | 116.07M | 38.51M |
| Cash & Short-Term Investments | 210.31M | 365.99M | 265.22M | 70.65M | 116.07M | 38.51M |
| Accounts Receivable | 803.97M | 724.28M | 698.52M | 671.18M | 715.48M | 344.05M |
| Other Receivables | 23.39M | 14.64M | 11.55M | 34.81M | 13.11M | 4.55M |
| Receivables | 827.36M | 738.92M | 710.07M | 706.00M | 728.58M | 348.61M |
| Inventory | 59.07M | 45.85M | 50.89M | 46.98M | 44.97M | |
| Prepaid Expenses | 59.17M | 58.32M | 51.57M | 41.38M | 38.19M | 21.16M |
| Restricted Cash | 4.00M | 3.00M | 3.10M | 2.00M | ||
| Other Current Assets | 45.43M | 22.93M | 21.61M | 7.86M | 4.12M | 15.06M |
| Total Current Assets | 1.21B | 1.24B | 1.10B | 874.87M | 931.93M | 423.34M |
| Property, Plant & Equipment | 48.99M | 81.64M | 99.45M | 126.64M | 131.54M | 67.41M |
| Long-Term Investments | 12.67M | 10.80M | 10.54M | 5.40M | 7.00M | 5.40M |
| Goodwill | 1.68B | 1.68B | 1.66B | 1.66B | 1.65B | 321.73M |
| Other Intangible Assets | 194.16M | 239.76M | 323.07M | 407.53M | 497.95M | 66.58M |
| Long-Term Deferred Charges | 3.50M | 4.00M | ||||
| Other Long-Term Assets | 56.70M | 32.47M | 36.39M | 10.53M | 10.86M | 4.99M |
| Total Assets | 3.20B | 3.28B | 3.23B | 3.08B | 3.23B | 889.46M |
| Accounts Payable | 547.40M | 557.04M | 547.57M | 453.05M | 406.71M | 212.53M |
| Accrued Expenses | 209.97M | 204.69M | 188.89M | 180.69M | 195.67M | 107.63M |
| Current Portion of Long-Term Debt | 16.11M | 14.94M | 20.00M | 15.36M | 11.85M | 10.40M |
| Current Portion of Leases | 6.58M | 10.78M | 10.97M | 13.64M | 17.56M | 11.98M |
| Current Unearned Revenue | 97.80M | 109.42M | 98.67M | 109.58M | 76.43M | |
| Other Current Liabilities | 36.54M | 118.67M | 130.12M | 67.87M | 74.92M | 15.70M |
| Total Current Liabilities | 914.41M | 1.02B | 996.22M | 840.20M | 783.13M | 358.25M |
| Long-Term Debt | 1.05B | 1.08B | 1.09B | 1.10B | 1.26B | 94.25M |
| Long-Term Leases | 35.75M | 30.42M | 33.73M | 34.69M | 41.08M | 34.54M |
| Pension & Post-Retirement Benefits | 6.00M | 5.20M | ||||
| Long-Term Deferred Tax Liabilities | 33.64M | 28.36M | 20.98M | 11.76M | 15.81M | 32.21M |
| Other Long-Term Liabilities | 26.09M | 37.27M | 59.07M | 104.18M | 133.19M | 20.13M |
| Total Liabilities | 2.06B | 2.20B | 2.20B | 2.09B | 2.24B | 539.37M |
| Common Stock | 319.00K | 317.00K | 316.00K | 312.00K | 305.00K | 117.00K |
| Additional Paid-In Capital | 782.31M | 779.08M | 769.72M | 762.32M | 748.88M | 88.12M |
| Retained Earnings | 387.88M | 343.42M | 265.54M | 230.85M | 253.42M | 267.75M |
| Treasury Stock | -30.27M | -30.27M | ||||
| Comprehensive Income & Other | -5.78M | -7.91M | -9.42M | -2.69M | -5.53M | -5.90M |
| Shareholders' Equity | 1.13B | 1.08B | 1.03B | 990.80M | 997.08M | 350.09M |
| Total Liabilities & Equity | 3.20B | 3.28B | 3.23B | 3.08B | 3.23B | 889.46M |
| Total Debt | 1.11B | 1.14B | 1.15B | 1.16B | 1.33B | 151.16M |
| Net Cash (Debt) | -896.11M | -774.75M | -886.96M | -1.09B | -1.22B | -112.65M |
| Net Cash Per Share | -28.33 | -24.35 | -27.75 | -35.17 | -57.97 | -9.52 |
| Filing Date Shares Outstanding | 31.35M | 31.17M | 31.57M | 31.33M | 30.93M | 11.74M |
| Total Common Shares Outstanding | 31.35M | 31.17M | 31.56M | 31.19M | 30.47M | 11.74M |
| Working Capital | 290.94M | 219.47M | 106.25M | 34.67M | 148.80M | 65.09M |
| Book Value Per Share | 36.19 | 34.80 | 32.51 | 31.76 | 32.72 | 29.83 |
| Tangible Book Value | -736.66M | -832.28M | -953.84M | -1.07B | -1.15B | -38.23M |
| Tangible Book Value Per Share | -23.50 | -26.70 | -30.22 | -34.42 | -37.90 | -3.26 |
| Land | 30.11M | 35.96M | ||||
| Buildings | 26.96M | 23.94M | 2.23M | |||
| Machinery | 112.60M | 102.37M | 112.51M | 87.02M | 41.43M | |
| Order Backlog | 11.12B | 12.50B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 91.85M | 77.88M | 34.68M | -22.57M | -14.33M | 45.73M |
| Depreciation & Amortization | 108.17M | 107.61M | 111.57M | 112.83M | 62.12M | 16.55M |
| Other Amortization | 11.43M | 11.15M | 10.69M | 9.55M | 8.32M | 912.00K |
| Loss (Gain) From Sale of Assets | -3.34M | -3.02M | 1.45M | 233.00K | -2.02M | 65.00K |
| Asset Writedown & Restructuring Costs | 2.19M | |||||
| Stock-Based Compensation | 14.16M | 11.92M | 15.97M | 32.84M | 32.74M | 8.33M |
| Other Operating Activities | 20.53M | 11.86M | 7.54M | 14.79M | -15.55M | -7.28M |
| Change in Accounts Receivable | -92.47M | -23.48M | 25.18M | 19.06M | -52.31M | -36.38M |
| Change in Inventory | -3.60M | -5.23M | ||||
| Change in Accounts Payable | 111.71M | 5.46M | 75.33M | 43.15M | 71.84M | 56.98M |
| Change in Other Net Operating Assets | -121.47M | -17.38M | -30.37M | -21.92M | 6.31M | -18.35M |
| Operating Cash Flow | 140.56M | 181.99M | 254.24M | 187.97M | 93.50M | 61.34M |
| Capital Expenditures | -10.12M | -11.92M | -11.79M | -25.02M | -12.43M | -9.78M |
| Sale of Property, Plant & Equipment | 9.75M | 9.84M | 76.00K | 16.00K | 9.00K | 16.00K |
| Cash Acquisitions | -27.50M | -27.50M | -16.94M | 193.68M | 262.00K | |
| Divestitures | 1.35M | -5.30M | ||||
| Investment in Securities | 1.01M | -3.15M | ||||
| Investing Cash Flow | -27.87M | -29.58M | -28.65M | -22.65M | 175.96M | -12.64M |
| Short-Term Debt Issued | 662.50M | 1.27B | 922.75M | |||
| Long-Term Debt Issued | 250.00M | 392.00M | 529.00M | |||
| Total Debt Issued | 343.50M | 662.50M | 1.27B | 1.17B | 392.00M | 529.00M |
| Short-Term Debt Repaid | -662.50M | -1.27B | -922.75M | |||
| Long-Term Debt Repaid | -15.01M | -15.33M | -432.60M | -581.33M | -602.60M | |
| Total Debt Repaid | -392.09M | -677.51M | -1.28B | -1.36B | -581.33M | -602.60M |
| Net Debt Issued (Repaid) | -48.59M | -15.01M | -15.33M | -182.60M | -189.32M | -73.60M |
| Issuance of Common Stock | 622.00K | 557.00K | 154.00K | 34.00K | 408.00K | 379.00K |
| Repurchase of Common Stock | -35.48M | -33.12M | -8.14M | -18.04M | -1.99M | -2.35M |
| Other Financing Activities | -1.19M | -3.91M | -1.19M | -10.42M | -2.33M | -17.00K |
| Financing Cash Flow | -84.64M | -51.48M | -24.50M | -211.02M | -193.24M | -75.58M |
| Foreign Exchange Rate Adjustments | -4.20M | -255.00K | -5.42M | 2.29M | 1.34M | -3.33M |
| Net Cash Flow | 23.86M | 100.67M | 195.67M | -43.42M | 77.55M | -30.21M |
| Free Cash Flow | 130.45M | 170.07M | 242.45M | 162.95M | 81.07M | 51.56M |
| Free Cash Flow Margin | 2.66% | 3.80% | 5.61% | 4.11% | 2.80% | 2.89% |
| Free Cash Flow Per Share | 4.12 | 5.34 | 7.58 | 5.24 | 3.86 | 4.36 |
| Levered Free Cash Flow | 106.38M | 181.51M | 278.75M | 200.56M | 98.68M | 68.70M |
| Unlevered Free Cash Flow | 150.02M | 226.74M | 339.59M | 268.02M | 129.55M | 72.78M |
| Cash Interest Paid | 79.34M | 78.34M | 107.61M | 117.48M | 54.27M | 5.80M |
| Cash Income Tax Paid | 12.33M | 9.63M | 8.82M | 8.36M | 13.42M | 9.70M |
| Change in Working Capital | -102.24M | -35.41M | 70.14M | 40.30M | 22.23M | -2.97M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.52B | 1.72B | 1.51B | 1.45B | 1.26B | 536.79M |
| Enterprise Value | 3.42B | 2.70B | 2.60B | 2.57B | 2.47B | 654.17M |
| Last Close Price | 80.37 | 54.55 | 47.83 | 46.44 | 41.29 | 45.77 |
| PE Ratio | 27.70 | 22.09 | 43.52 | 11.74 | ||
| Forward PE | 12.50 | 10.22 | 10.82 | 11.53 | 9.46 | 8.76 |
| PS Ratio | 0.51 | 0.38 | 0.35 | 0.37 | 0.43 | 0.30 |
| PB Ratio | 2.22 | 1.59 | 1.47 | 1.46 | 1.26 | 1.53 |
| P/FCF Ratio | 19.31 | 10.12 | 6.23 | 8.89 | 15.52 | 10.41 |
| P/OCF Ratio | 17.92 | 9.45 | 5.94 | 7.71 | 13.46 | 8.75 |
| PEG Ratio | 0.61 | 0.52 | 0.78 | 0.78 | 0.78 | 0.78 |
| EV/Sales Ratio | 0.70 | 0.60 | 0.60 | 0.65 | 0.85 | 0.37 |
| EV/EBITDA Ratio | 10.91 | 8.93 | 9.60 | 10.84 | 15.64 | 8.33 |
| EV/EBIT Ratio | 16.67 | 13.88 | 16.33 | 20.66 | 25.80 | 10.55 |
| EV/FCF Ratio | 26.18 | 15.86 | 10.72 | 15.78 | 30.45 | 12.69 |
| Debt / Equity Ratio | 0.97 | 1.05 | 1.12 | 1.18 | 1.34 | 0.43 |
| Debt / EBITDA Ratio | 2.60 | 2.73 | 2.93 | 3.39 | 5.16 | 0.99 |
| Debt / FCF Ratio | 8.48 | 6.71 | 4.75 | 7.14 | 16.45 | 2.93 |
| Net Debt / Equity Ratio | 0.79 | 0.71 | 0.86 | 1.10 | 1.22 | 0.32 |
| Net Debt / EBITDA Ratio | 2.86 | 2.57 | 3.28 | 4.61 | 7.71 | 1.43 |
| Net Debt / FCF Ratio | 6.87 | 4.56 | 3.66 | 6.71 | 15.02 | 2.19 |
| Asset Turnover | 1.54 | 1.38 | 1.37 | 1.25 | 1.40 | 2.06 |
| Inventory Turnover | 82.02 | 84.89 | 81.31 | 78.91 | ||
| Quick Ratio | 1.14 | 1.09 | 0.98 | 0.92 | 1.08 | 1.08 |
| Current Ratio | 1.32 | 1.22 | 1.11 | 1.04 | 1.19 | 1.18 |
| Return on Equity (ROE) | 8.35% | 7.38% | 3.44% | -2.27% | -2.13% | 13.96% |
| Return on Assets (ROA) | 4.04% | 3.73% | 3.15% | 2.46% | 2.90% | 4.47% |
| Return on Invested Capital (ROIC) | 7.87% | 7.95% | 7.11% | 5.79% | 7.15% | 11.69% |
| Return on Capital Employed (ROCE) | 9.00% | 8.60% | 7.10% | 5.60% | 3.90% | 11.70% |
| Earnings Yield | 3.61% | 4.53% | 2.30% | -1.56% | -1.14% | 8.52% |
| FCF Yield | 5.18% | 9.89% | 16.06% | 11.25% | 6.44% | 9.61% |
| Buyback Yield / Dilution | 1.76% | 0.46% | -2.84% | -48.05% | -77.39% | -0.72% |