V2X, Inc. (VVX) Key Metrics
VVX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.20B
- Enterprise value
- $3.20B
- P/E (TTM)
- 24.2 10-yr median 13.8
- Forward P/E
- 11.1
- PEG ratio
- —
- Price / sales
- 0.4 10-yr median 0.3
- Price / book
- 2.1 10-yr median 1.6
- EV / EBITDA
- 10.3 10-yr median 8.8
- Dividend yield
- —
- Beta
- 0.19
VVX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsVVX valuation Price multiples at each fiscal year-end price.
VVX returns How much profit the business earns on the capital it uses.
VVX per-share figures Results divided by the shares outstanding at year-end.
VVX financial health Debt, liquidity and how easily interest is covered.
VVX efficiency & capital use Working capital cycle and where the cash goes.
VVX valuation history
VVX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
VVX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
VVX cash returned to shareholders
VVX price vs earnings per share
VVX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.74B | $1.53B | $1.44B | $866.9M | $541.7M | $584.3M | $595.2M | $245.5M | $345.8M | $261.7M |
| Enterprise value | $2.54B | $2.41B | $2.53B | $2.08B | $654.4M | $714.9M | $645.0M | $253.0M | $345.6M | $297.7M |
| P/E ratio | 22.3 | 44.1 | — | — | 11.8 | 15.8 | 17.9 | 7.0 | 5.8 | 11.1 |
| Price / sales | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | 0.2 | 0.3 | 0.2 |
| Price / book | 1.6 | 1.5 | 1.5 | 0.9 | 1.5 | 1.9 | 2.3 | 1.1 | 1.9 | 2.2 |
| Price / free cash flow | 10.2 | 6.3 | 8.9 | 10.7 | 10.5 | 9.8 | 52.2 | 8.2 | 10.5 | 7.3 |
| Price / operating cash flow | 9.5 | 6.0 | 7.7 | 9.3 | 8.8 | 9.1 | 21.6 | 6.1 | 9.8 | 7.1 |
| EV / sales | 0.6 | 0.6 | 0.6 | 0.7 | 0.4 | 0.5 | 0.5 | 0.2 | 0.3 | 0.3 |
| EV / EBITDA | 8.5 | 9.2 | 11.9 | 17.6 | 8.3 | 13.9 | 11.5 | 4.8 | 8.1 | 6.7 |
| EV / free cash flow | 14.9 | 10.0 | 15.6 | 25.7 | 12.7 | 12.0 | 56.5 | 8.4 | 10.5 | 8.3 |
| Earnings yield | 4.5% | 2.3% | −1.6% | −1.7% | 8.4% | 6.3% | 5.6% | 14.4% | 17.2% | 9.0% |
| Free cash flow yield | 9.8% | 15.9% | 11.3% | 9.4% | 9.5% | 10.2% | 1.9% | 12.2% | 9.6% | 13.7% |
| Dividend yield | — | — | — | 0.2% | 0.4% | 0.3% | 0.4% | — | — | — |
| Shareholder yield (dividends + buybacks) | 1.7% | 0.0% | 1.2% | 0.5% | 0.8% | 0.7% | 0.6% | 0.4% | 0.4% | 0.4% |
| Share price at fiscal year-end | $54.55 | $47.83 | $46.44 | $41.29 | $45.77 | $49.72 | $51.26 | $21.58 | $30.85 | $23.85 |
| Per share | ||||||||||
| Revenue per share | $140.79 | $135.21 | $127.50 | $137.69 | $150.70 | $118.76 | $119.06 | $112.44 | $99.45 | $108.49 |
| Earnings per share | $2.45 | $1.08 | −$0.73 | −$0.68 | $3.86 | $3.14 | $2.86 | $3.10 | $5.31 | $2.16 |
| Operating cash flow per share | $5.72 | $7.95 | $6.05 | $4.45 | $5.18 | $5.45 | $2.37 | $3.52 | $3.16 | $3.34 |
| Free cash flow per share | $5.34 | $7.58 | $5.24 | $3.86 | $4.36 | $5.07 | $0.98 | $2.64 | $2.95 | $3.27 |
| Cash per share | $11.60 | $8.39 | $2.34 | $5.53 | $3.25 | $5.70 | $3.04 | $5.81 | $6.91 | $4.34 |
| Book value per share | $34.09 | $32.10 | $31.87 | $47.49 | $29.58 | $25.95 | $22.29 | $19.45 | $16.36 | $10.70 |
| Tangible book value per share | −$26.16 | −$29.84 | −$34.54 | −$55.00 | −$3.23 | −$7.05 | −$1.55 | −$1.84 | −$3.00 | −$9.07 |
| Dividends per share | — | — | — | $0.09 | $0.17 | $0.16 | $0.22 | — | — | — |
| Capex per share | $0.37 | $0.37 | $0.80 | $0.59 | $0.83 | $0.38 | $1.39 | $0.88 | $0.21 | $0.07 |
| Debt per share | $36.76 | $36.05 | $37.45 | $63.50 | $12.77 | $16.81 | $7.33 | $6.47 | $6.89 | $7.62 |
| Shares outstanding | 31.8M | 32.0M | 31.1M | 21.0M | 11.8M | 11.8M | 11.6M | 11.4M | 11.2M | 11.0M |
| Change in shares outstanding | −0.5% | +2.8% | +48.0% | +77.4% | +0.7% | +1.2% | +2.1% | +1.5% | +2.1% | +1.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.4% | 3.4% | −2.3% | −2.1% | 14.0% | 13.1% | 13.8% | 17.4% | 39.6% | 22.9% |
| Return on invested capital (ROIC) | 7.9% | 7.1% | 4.6% | 3.3% | 11.7% | 11.2% | 14.2% | 19.1% | 24.5% | 17.3% |
| Return on assets (ROA) | 2.4% | 1.1% | −0.7% | −0.7% | 5.3% | 5.0% | 5.5% | 6.6% | 12.4% | 5.0% |
| Return on tangible assets | 5.3% | 2.8% | −2.2% | −1.3% | 9.1% | 8.1% | 9.2% | 10.7% | 21.4% | 9.5% |
| Free cash flow margin | 3.8% | 5.6% | 4.1% | 2.8% | 2.9% | 4.3% | 0.8% | 2.3% | 3.0% | 3.0% |
| Income quality (OCF / net income) | 2.34 | 7.33 | — | — | 1.34 | 1.73 | 0.83 | 1.13 | 0.60 | 1.55 |
| Financial health | ||||||||||
| Total debt | $1.17B | $1.15B | $1.16B | $1.33B | $151.2M | $197.6M | $85.1M | $73.6M | $77.2M | $83.6M |
| Cash & short-term investments | $369.0M | $268.3M | $72.7M | $116.1M | $38.5M | $66.9M | $35.3M | $66.1M | $77.5M | $47.7M |
| Net debt | $800.8M | $884.2M | $1.09B | $1.22B | $112.7M | $130.6M | $49.8M | $7.5M | −$242,000 | $35.9M |
| Debt / equity | 1.08 | 1.12 | 1.17 | 1.34 | 0.43 | 0.65 | 0.33 | 0.33 | 0.42 | 0.71 |
| Debt / assets | 0.35 | 0.36 | 0.38 | 0.41 | 0.17 | 0.23 | 0.13 | 0.13 | 0.16 | 0.18 |
| Net debt / EBITDA | 2.68 | 3.36 | 5.14 | 10.28 | 1.43 | 2.53 | 0.89 | 0.14 | −0.01 | 0.80 |
| Current ratio | 1.22 | 1.10 | 1.04 | 1.19 | 1.18 | 1.42 | 1.31 | 1.39 | 1.49 | 1.30 |
| Quick ratio | 1.17 | 1.05 | 0.99 | 1.13 | 1.12 | 1.41 | 1.14 | 1.39 | 1.42 | 1.24 |
| Interest coverage | 2.3 | 1.5 | 1.0 | 0.9 | 7.8 | 10.8 | 7.7 | 9.4 | 8.8 | 7.5 |
| Working capital | $219.5M | $104.0M | $34.7M | $148.8M | $65.1M | $120.0M | $75.5M | $88.3M | $89.8M | $56.3M |
| Invested capital | $1.89B | $1.91B | $2.08B | $2.21B | $462.7M | $435.6M | $308.6M | $228.8M | $183.1M | $153.3M |
| Tangible asset value | −$832.3M | −$953.8M | −$1.07B | −$1.15B | −$38.2M | −$82.9M | −$18.0M | −$20.9M | −$33.7M | −$99.5M |
| Net current asset value | −$1.07B | −$1.10B | −$1.22B | −$1.30B | −$116.0M | −$130.5M | −$56.9M | −$37.6M | −$40.2M | −$103.8M |
| Graham number | $43.33 | $27.99 | — | — | $50.71 | $42.85 | $37.86 | $36.85 | $44.20 | $22.78 |
| Graham net-net per share | −$42.70 | −$43.06 | −$47.15 | −$73.87 | −$19.33 | −$19.98 | −$10.36 | −$9.74 | −$7.81 | −$14.35 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $2.0M | $2.0M | $1.9M | $2.6M | — | — | — |
| Share buybacks (net) | $30.0M | $0 | $18.0M | $2.0M | $2.3M | $2.0M | $1.1M | $880,000 | $1.3M | $987,000 |
| Dividend payout ratio | — | — | — | — | 4.3% | 5.1% | 7.8% | — | — | — |
| Dividends + buybacks / free cash flow | 17.6% | 0.0% | 11.1% | 4.9% | 8.4% | 6.5% | 32.2% | 2.9% | 4.0% | 2.8% |
| Capex / revenue | 0.3% | 0.3% | 0.6% | 0.4% | 0.5% | 0.3% | 1.2% | 0.8% | 0.2% | 0.1% |
| Capex / operating cash flow | 6.6% | 4.6% | 13.3% | 13.3% | 15.9% | 7.0% | 58.6% | 25.0% | 6.6% | 2.0% |
| Capex / depreciation | 0.11 | 0.10 | 0.22 | 0.20 | 0.59 | 0.55 | 2.49 | 2.64 | 1.39 | 0.39 |
| Stock-based compensation / revenue | 0.3% | 0.4% | 0.8% | 1.1% | 0.5% | 0.7% | 0.6% | 0.3% | 0.4% | 0.4% |
| SG&A / revenue | 4.0% | 4.3% | 5.3% | 8.3% | 5.5% | 5.8% | 5.7% | 5.2% | 5.4% | 5.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 59.0 | 59.8 | 66.1 | 68.0 | 67.9 | 76.4 | 66.2 | 59.9 | 60.7 | 60.5 |
| Days of inventory on hand | 4.3 | 4.5 | 4.6 | 4.6 | 2.6 | 6.0 | 5.8 | 2.0 | 4.3 | 2.1 |
| Days payables outstanding | 49.1 | 45.9 | 43.2 | 43.5 | 41.8 | 44.2 | 44.3 | 42.7 | 42.2 | 40.5 |
| Cash conversion cycle (days) | 14.2 | 18.4 | 27.4 | 29.1 | 28.6 | 38.2 | 27.7 | 19.2 | 22.8 | 22.1 |
| Receivables turnover | 6.18 | 6.10 | 5.53 | 5.37 | 5.38 | 4.78 | 5.52 | 6.09 | 6.01 | 6.03 |
| Payables turnover | 7.44 | 7.95 | 8.44 | 8.38 | 8.72 | 8.27 | 8.24 | 8.55 | 8.66 | 9.01 |
| Inventory turnover | 84.89 | 81.31 | 78.91 | 78.50 | 141.53 | 60.84 | 62.89 | — | 85.28 | 176.99 |
| Asset turnover | 1.35 | 1.37 | 1.26 | 1.40 | 2.06 | 1.89 | 2.29 | 2.40 | 2.32 | 2.51 |
| Average receivables | $724.5M | $708.0M | $717.3M | $538.6M | $331.8M | $292.1M | $250.6M | $209.9M | $185.4M | $197.4M |
| Average payables | $552.3M | $500.3M | $429.9M | $309.6M | $186.1M | $153.8M | $152.2M | $136.1M | $117.0M | $120.2M |
| Average inventory | $48.4M | $48.9M | $46.0M | $33.1M | $11.5M | $20.9M | $19.9M | $6.3M | $11.9M | $6.1M |
| Intangibles / total assets | 56.6% | 61.3% | 67.0% | 66.6% | 43.7% | 46.0% | 43.5% | 42.3% | 43.8% | 46.6% |
Computed from VVX's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
VVX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), V2X traded at 22.3 times earnings, against a 10-year median of 13.8. Based on the latest twelve months, the trailing P/E is 24.2 and the forward P/E is 11.1. V2X earned a return on equity of 7.4% and a return on invested capital of 7.9% in fiscal 2025. It ended the year with $1.2 billion of debt and $369.0 million in cash and short-term investments, net debt of $800.8 million. It returned $30.0 million to shareholders: $0 in dividends and $30.0 million in share buybacks, 18% of free cash flow. The share count rose 190.0% from 11.0M to 31.8M over 9 years.
See the VVX income statement, the VVX chart for price history, or the VVX stock overview for the latest quote and news.
VVX key metrics FAQ
What is V2X's P/E ratio?
V2X's trailing P/E ratio is 24.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.1. At the end of fiscal 2025 it was 22.3, compared with a 10-year median of 13.8.
What is V2X's EV/EBITDA?
V2X's enterprise value was 8.5 times EBITDA at the end of fiscal 2025 (enterprise value $2.5 billion, EBITDA $298.4 million); the current EV/EBITDA is 10.3.
What is V2X's return on equity?
V2X's return on equity (ROE) was 7.4% in fiscal 2025: net income of $77.9 million on average shareholders' equity of $1.1 billion.
What is V2X's ROIC?
V2X's return on invested capital was 7.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does V2X have?
V2X had total debt of $1.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.08 and $800.8 million of net debt (2.68 times EBITDA).
Does V2X buy back its shares?
Yes. V2X spent $30.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.5% over the year, to 31.8M..
What is V2X's free cash flow yield?
V2X generated $170.1 million of free cash flow in fiscal 2025, a free cash flow yield of 9.8% on its market value at year-end ($1.7 billion).
What is V2X's current ratio?
V2X's current ratio was 1.22 at the end of fiscal 2025: current assets were 1.22 times current liabilities.