A Business at a Glance
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V2X, Inc.
VVX
$2.7B
Mkt Cap
$83.57
-0.49%
V2X, Inc. (VVX) has a current P/E ratio of 34.1, compared to its historical median P/E of 13.6. The stock is currently considered Expensive based on its historical valuation range.
V2X, Inc. (VVX) has a 5-year average return on invested capital (ROIC) of 7.5%. This is below average and may indicate limited pricing power.
V2X, Inc. (VVX) has a market capitalization of $2.6B. It is classified as a mid-cap stock.
V2X, Inc. (VVX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.15%.
Based on historical P/E analysis, V2X, Inc. (VVX) appears expensive. The current P/E of 34.1 is 151% above its historical median of 13.6. The estimated fair value CAGR (P/E method) is -16.5%.
V2X, Inc. (VVX) operates in the Services-Facilities Support Management Services industry, within the Industrials sector.
V2X, Inc. (VVX) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
V2X, Inc. (V2X or the Company) is a leading provider of critical mission solutions primarily to defense customers in 349 locations and 49 countries and territories worldwide. V2X enables its customers' most important missions by delivering end-to-end capabilities at scale across the world. This provides us with the expertise and ability to act as a trusted partner to bring differentiated integrated solutions that define mission success. As of December 31, 2025, we had approximately 16,200 employees and 7,300 subcontract personnel. The Company operates as one segment and offers a broad suite of capabilities including multi-domain high impact readiness, integrated supply chain management, assured communications, mission solutions, and platform renewal and modernization to national security, defense, civilian and international customers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.7B | 4.5B | 4.3B | 4.0B | 2.9B | 1.8B |
| Net Income | 89M | 78M | 35M | -23M | -14M | 46M |
| EPS | $2.82 | $2.45 | $1.08 | $-0.73 | $-0.68 | $1.29 |
| Free Cash Flow | 136M | 170M | 242M | 163M | 81M | 52M |
| ROIC | 8.0% | 8.1% | 7.2% | 5.9% | 4.2% | 12.0% |
| Gross Margin | - | 8.3% | 7.9% | 8.4% | 10.2% | 9.0% |
| Debt/Equity | 0.97 | 1.05 | 1.12 | 1.17 | 1.34 | 0.43 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 204M | 194M | 159M | 124M | 56M | 62M |
| Operating Margin | 4.3% | 4.3% | 3.7% | 3.1% | 1.9% | 3.5% |
| ROE | 8.0% | 7.4% | 3.4% | -2.3% | -2.1% | 14.0% |
| Shares Outstanding | 31M | 32M | 32M | 31M | 21M | 36M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.2B | 1.2B | 1.2B | 1.1B | 1.3B | 1.4B | 1.4B | 1.8B | 2.9B | 4.0B | 4.3B | 4.5B | 4.7B |
| Gross Margin | 9.9% | 8.9% | 9.0% | 9.1% | 8.9% | 9.3% | 8.9% | 9.0% | 10.2% | 8.4% | 7.9% | 8.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 80M | 66M | 64M | 61M | 66M | 78M | 81M | 98M | 239M | 210M | 184M | 179M | 197M |
| EBIT | 38M | 40M | 43M | 41M | 48M | 50M | 43M | 62M | 56M | 124M | 159M | 194M | 204M |
| Op. Margin | 3.2% | 3.4% | 3.6% | 3.7% | 3.8% | 3.6% | 3.1% | 3.5% | 1.9% | 3.1% | 3.7% | 4.3% | 4.3% |
| Net Income | 23M | 31M | 24M | 59M | 35M | 33M | 37M | 46M | -14M | -23M | 35M | 78M | 89M |
| Net Margin | 1.9% | 2.6% | 2.0% | 5.3% | 2.7% | 2.4% | 2.6% | 2.6% | -0.5% | -0.6% | 0.8% | 1.7% | 1.9% |
| Non-Recurring | 0 | 0 | -405K | 468K | -348K | -62K | 0 | 0 | 2.1M | 450K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 20.9% | 25.9% | 17.4% | 24.6% | 18.9% | 14.2% | 11.4% | 12.0% | 4.2% | 5.9% | 7.2% | 8.1% | 8.0% |
| ROE | 42.3% | 34.7% | 22.9% | 39.7% | 17.4% | 13.8% | 13.1% | 14.0% | -2.1% | -2.3% | 3.4% | 7.4% | 8.0% |
| ROA | 4.6% | 6.4% | 5.0% | 12.4% | 6.6% | 5.5% | 5.0% | 5.3% | -0.7% | -0.7% | 1.1% | 2.4% | 2.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 43M | 19M | 37M | 35M | 40M | 28M | 64M | 61M | 93M | 188M | 254M | 182M | 148M |
| Free Cash Flow | 39M | 18M | 36M | 33M | 30M | 11M | 60M | 52M | 81M | 163M | 242M | 170M | 136M |
| Owner Earnings | 39M | 9.1M | 30M | 29M | 32M | 13M | 47M | 36M | 29M | 101M | 127M | 62M | 44M |
| CapEx | 3.8M | 793K | 741K | 2.3M | 10M | 16M | 4.5M | 9.8M | 12M | 25M | 12M | 12M | 12M |
| Maint. CapEx | 2.1M | 3.1M | 1.9M | 1.7M | 3.8M | 6.5M | 8.1M | 17M | 32M | 54M | 112M | 108M | 90M |
| Growth CapEx | 1.7M | 0 | 0 | 658K | 6.2M | 9.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 2.1M | 3.1M | 1.9M | 1.7M | 3.8M | 6.5M | 8.1M | 17M | 32M | 54M | 112M | 108M | 90M |
| CapEx/OCF | 9.0% | 4.2% | 2.0% | 6.6% | 25.0% | 58.6% | 7.0% | 15.9% | 13.3% | 13.3% | 4.6% | 6.6% | 7.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30M | 30M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.7% | 1.1% |
| Stock-Based Comp | 2.3M | 6.7M | 4.6M | 4.5M | 4.1M | 8.3M | 9.4M | 8.3M | 33M | 33M | 16M | 12M | 13M |
| Debt Repayment | 2.6M | 23M | 29M | 86M | 4.0M | 4.5M | 6.5M | 8.6M | 108M | 433M | 15M | 15M | 15M |
| Balance Sheet | |||||||||||||
| Net Debt | 60M | 54M | 36M | -242K | 7.5M | 50M | 131M | 113M | 1.2B | 1.1B | 884M | 770M | 867M |
| Cash & Equiv. | 43M | 40M | 48M | 77M | 66M | 35M | 67M | 39M | 116M | 73M | 268M | 369M | 209M |
| Long-Term Debt | 122M | 90M | 68M | 73M | 69M | 63M | 169M | 94M | 1.3B | 1.1B | 1.1B | 1.1B | 1.1B |
| Debt/Equity | 2.70 | 1.50 | 0.71 | 0.42 | 0.33 | 0.33 | 0.65 | 0.43 | 1.34 | 1.17 | 1.12 | 1.05 | 0.97 |
| Interest Coverage | 25.2 | 6.1 | 30.4 | 23.0 | 35.3 | 49.6 | 39.5 | 10.7 | 1.0 | 1.1 | 1.5 | 2.5 | 2.5 |
| Equity | 54M | 89M | 117M | 183M | 220M | 259M | 305M | 350M | 997M | 991M | 1.0B | 1.1B | 1.1B |
| Total Assets | 496M | 484M | 465M | 496M | 572M | 636M | 844M | 889M | 3.2B | 3.1B | 3.2B | 3.3B | 3.2B |
| Total Liabilities | 442M | 395M | 348M | 312M | 351M | 378M | 539M | 539M | 2.2B | 2.1B | 2.2B | 2.2B | 2.1B |
| Intangibles | N/A | N/A | N/A | 121K | 8.6M | 15M | 48M | 67M | 498M | 408M | 323M | 240M | 217M |
| Retained Earnings | 3.3M | 34M | 58M | 117M | 153M | 185M | 222M | 268M | 253M | 231M | 266M | 343M | 362M |
| Working Capital | 58M | 49M | 56M | 90M | 88M | 76M | 120M | 65M | 149M | 35M | 106M | 219M | 236M |
| Current Assets | 264M | 262M | 244M | 272M | 313M | 321M | 408M | 423M | 932M | 875M | 1.1B | 1.2B | 1.2B |
| Current Liabilities | 205M | 213M | 188M | 182M | 225M | 245M | 288M | 358M | 783M | 840M | 996M | 1.0B | 933M |
| Per Share Data | |||||||||||||
| EPS | 2.13 | 2.86 | 0.72 | 1.77 | 1.03 | 0.95 | 1.05 | 1.29 | -0.68 | -0.73 | 1.08 | 2.45 | 2.82 |
| Owner EPS | 3.60 | 0.84 | 0.91 | 0.87 | 0.94 | 0.37 | 1.32 | 1.03 | 1.35 | 3.27 | 3.95 | 1.96 | 1.42 |
| Book Value | 5.03 | 8.25 | 3.57 | 5.43 | 6.45 | 7.44 | 8.64 | 9.85 | 47.31 | 32.04 | 31.95 | 34.12 | 35.25 |
| Cash Flow/Share | 4.01 | 1.74 | 1.11 | 1.05 | 1.17 | 0.79 | 1.82 | 1.73 | 4.44 | 6.08 | 7.92 | 5.73 | 5.71 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 10.7M | 10.8M | 32.9M | 33.6M | 34.2M | 34.8M | 35.3M | 35.5M | 21.1M | 30.9M | 32.1M | 31.8M | 31.3M |
| Valuation | |||||||||||||
| P/E Ratio | 13.5 | 7.5 | 11.0 | 5.9 | 7.0 | 17.8 | 15.1 | 12.0 | N/A | N/A | 43.5 | 22.8 | 29.6 |
| P/FCF | 7.9 | 12.8 | 21.8 | 32.0 | 24.6 | 155.6 | 28.2 | 32.0 | 10.6 | 8.9 | 6.2 | 10.4 | 19.2 |
| EV/EBIT | 10.4 | 7.6 | 6.9 | 8.6 | 5.3 | 12.6 | 15.4 | 23.7 | 36.4 | 20.1 | 14.9 | 13.0 | 17.1 |
| Price/Book | 5.7 | 2.6 | 2.2 | 1.9 | 1.1 | 2.3 | 1.8 | 4.1 | 0.9 | 1.5 | 1.5 | 1.6 | 2.4 |
| Price/Sales | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 | 0.9 | 0.3 | 0.4 | 0.4 | 0.4 | 0.6 |
| FCF Yield | 12.7% | 7.8% | 13.7% | 9.4% | 12.2% | 1.9% | 10.7% | 3.6% | 9.4% | 11.3% | 16.1% | 9.6% | 5.2% |
| Market Cap | 307M | 231M | 261M | 353M | 246M | 592M | 559M | 1.4B | 859M | 1.4B | 1.5B | 1.8B | 2.6B |
| Avg. Price | 24.80 | 25.58 | 23.56 | 28.39 | 31.03 | 37.89 | 46.85 | 50.21 | 38.21 | 45.88 | 49.75 | 51.58 | 83.57 |
| Year-End Price | 28.71 | 21.36 | 23.85 | 31.51 | 21.60 | 51.00 | 47.54 | 46.38 | 40.78 | 46.77 | 46.98 | 55.75 | 83.57 |
V2X, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
V2X, Inc. trades at 34.1x trailing earnings, compared to its 15-year median P/E of 13.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 15.3x vs a median of 21.8x. The company's 5-year average ROIC is 7.5% with a gross margin of 8.8%. Total shareholder yield (buybacks) is 1.1%. At current prices, the estimated annualized return to fair value is +10.5%.
V2X, Inc. (VVX) has a net profit margin of 1.7%. This is a modest margin.
V2X, Inc. (VVX) generated $170 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
V2X, Inc. (VVX) has a debt-to-equity ratio of 1.05. This indicates moderate leverage.
V2X, Inc. (VVX) reported earnings per share (EPS) of $2.45 in its most recent fiscal year.
V2X, Inc. (VVX) has a return on equity (ROE) of 7.4%. This indicates moderate shareholder returns.
V2X, Inc. (VVX) has a 5-year average gross margin of 8.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 14 years of financial data for V2X, Inc. (VVX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
V2X, Inc. (VVX) has a book value per share of $34.12, based on its most recent annual SEC filing.
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