V2X, Inc. VVX

Industrials SIC 8744 - Services-Facilities Support Management Services NAICS Administrative and Support and Waste Management and Remediation Services › Administrative and Support Services › Facilities Support Services derived NYSE

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.

Last close 74.09 2026-10-23
Market cap $2.32B 2026-07-03 share count
52-week range 50.89 - 93.98

Valuation FY2025 figures against the last close

P/S0.5x
P/E30.2x
P/FCF13.7x
EV/EBITDA14.4x
Dividend yield—
Diluted EPS2.45

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Middle East
  • Asia
  • Europe
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 2.6B (58.2%) 58% United States Middle East, FY2025: 1.4B (30.2%) 30% Middle East Asia, FY2025: 313M (7.0%) 7% Asia Europe, FY2025: 206.4M (4.6%) 5% Europe FY2024 United States, FY2024: 2.4B (55.3%) 55% Middle East, FY2024: 1.4B (32.4%) 32% Asia, FY2024: 327M (7.6%) 8% Europe, FY2024: 207.2M (4.8%) 5% FY2023 United States, FY2023: 2.3B (57.7%) 58% Middle East, FY2023: 1.2B (30.1%) 30% Asia, FY2023: 264.3M (6.7%) 7% Europe, FY2023: 219.1M (5.5%) 6%
Region FY2025FY2024FY2023
United States $2.61B $2.39B $2.29B
Middle East $1.35B $1.40B $1.19B
Asia $313.0M $327.0M $264.3M
Europe $206.4M $207.2M $219.1M

As the company reported it, from the “REVENUE - Revenue by Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.48B$4.32B$3.96B$2.89B$1.78B$1.40B$1.38B$1.28B$1.11B$1.19B
Cost of revenue $4.11B$3.98B$3.63B$2.60B$1.62B$1.27B$1.25B$1.16B$1.01B$1.08B
Gross profit $373.4M$343.0M$334.9M$295.0M$160.4M$124.2M$128.0M$114.4M$101.9M$106.9M
SG&A $179.1M$183.8M$210.4M$239.2M$98.4M$80.7M$78.3M$66.4M$60.7M$64.1M
Operating income $194.3M$159.2M$124.4M$55.8M$62.0M$43.5M$49.6M$48.1M$41.2M$42.8M
Pre-tax income $100.9M$38.8M-$24.5M-$6.1M$54.0M$38.7M$43.2M$43.0M$36.6M$37.2M
Income tax $23.0M$4.2M$1.9M$8.2M$8.3M$1.7M$10.0M$7.9M$22.9M$13.5M
Net income $77.9M$34.7M-$22.6M-$14.3M$45.7M$37.0M$33.2M$35.1M$59.5M$23.7M
EPS, basic 2.471.10-0.73-0.683.913.192.903.135.402.21
EPS, diluted 2.451.08-0.73-0.683.863.142.863.085.312.16
Shares, diluted (wtd. avg.) 31.8M32.0M31.1M21.0M11.8M11.8M11.6M11.4M11.2M11.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $369.0M$268.3M$72.7M$116.1M$38.5M$68.7M$35.3M$66.1M$77.5M$47.7M
Receivables $738.9M$710.1M$706.0M$728.6M$348.6M$315.0M$269.1M$232.1M$175.0M$172.1M
Inventory $45.9M$50.9M$47.0M$45.0M——————
Total current assets $1.24B$1.10B$874.9M$931.9M$423.3M$408.4M$320.6M$313.3M$271.9M$244.1M
Property, plant and equipment $52.4M$62.0M$85.4M$78.7M$23.8M$22.6M$18.8M$13.4M$3.7M$3.1M
Goodwill $1.68B$1.66B$1.66B$1.65B$321.7M$339.7M$262.0M$233.6M$216.9M$216.9M
Other intangibles $239.8M$323.1M$407.5M$498.0M$66.6M$48.1M$14.9M$8.6M$121.0K—
Total assets $3.28B$3.23B$3.08B$3.23B$889.5M$843.8M$636.4M$572.2M$495.6M$465.3M
Accounts payable $557.0M$547.6M$453.1M$406.7M$212.5M$159.6M$148.0M$156.4M$115.9M$118.1M
Short-term debt $14.9M$20.0M$15.4M$11.8M$10.4M$8.6M$6.5M$4.5M$4.0M$15.8M
Total current liabilities $1.02B$996.2M$840.2M$783.1M$358.2M$288.4M$245.1M$225.0M$182.2M$187.8M
Long-term debt $1.08B$1.09B$1.10B$1.26B$94.2M$168.8M$63.0M$69.1M$73.2M$67.8M
Total liabilities $2.20B$2.20B$2.09B$2.24B$539.4M$538.9M$377.5M$350.9M$312.2M$347.9M
Retained earnings $343.4M$265.5M$230.9M$253.4M$267.8M$222.0M$185.1M$152.6M$117.4M$58.0M
Total equity $1.08B$1.03B$990.8M$997.1M$350.1M$304.9M$258.9M$220.3M$182.6M$117.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $182.0M$254.2M$188.0M$93.5M$61.3M$64.1M$27.6M$40.1M$35.4M$36.6M
Depreciation and amortisation $17.0M$20.7M$22.4M$13.5M$6.5M$4.1M$3.4M$1.8M$1.7M$1.9M
Stock-based compensation $11.9M$16.0M$32.8M$32.7M$8.3M$9.4M$8.3M$4.1M$4.5M$4.6M
Capital expenditure $11.9M$11.8M$25.0M$12.4M$9.8M$4.5M$16.2M$10.0M$2.3M$741.0K
Investing cash flow -$29.6M-$28.6M-$22.6M$176.0M-$12.6M-$138.0M-$55.8M-$46.8M-$2.3M-$52.0K
Financing cash flow -$51.5M-$24.5M-$211.0M-$193.2M-$75.6M$105.8M-$1.9M-$3.3M-$7.1M-$28.1M
Buybacks $30.0M$0$0———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001601548-26-000015.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 1.2B Gross profit, FY2016: 106.9M Net income, FY2016: 23.7M Revenue, FY2017: 1.1B Gross profit, FY2017: 101.9M Net income, FY2017: 59.5M Revenue, FY2018: 1.3B Gross profit, FY2018: 114.4M Net income, FY2018: 35.1M Revenue, FY2019: 1.4B Gross profit, FY2019: 128M Net income, FY2019: 33.2M Revenue, FY2020: 1.4B Gross profit, FY2020: 124.2M Net income, FY2020: 37M Revenue, FY2021: 1.8B Gross profit, FY2021: 160.4M Net income, FY2021: 45.7M Revenue, FY2022: 2.9B Gross profit, FY2022: 295M Net income, FY2022: -14.3M Revenue, FY2023: 4B Gross profit, FY2023: 334.9M Net income, FY2023: -22.6M Revenue, FY2024: 4.3B Gross profit, FY2024: 343M Net income, FY2024: 34.7M Revenue, FY2025: 4.5B Gross profit, FY2025: 373.4M Net income, FY2025: 77.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.19B $1.11B $1.28B $1.38B $1.40B $1.78B $2.89B $3.96B $4.32B $4.48B
Gross profit $106.9M $101.9M $114.4M $128.0M $124.2M $160.4M $295.0M $334.9M $343.0M $373.4M
Net income $23.7M $59.5M $35.1M $33.2M $37.0M $45.7M -$14.3M -$22.6M $34.7M $77.9M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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