VVX Industrials

V2X, Inc.

$80.82-2.86%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Industrials
Industry: Aerospace & Defense
Country: United States
Market cap: 2.5B USD
Enterprise value: 3.0B USD
Full-time employees: 16,200

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: more debt relative to equity (0.94× vs a peer median of 0.40×)more debt vs equity (0.94× vs peers 0.40×)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #964 of 2,308 industrials companies (top 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $61M vs $30M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +2.9% from December 2022 to July 2026.
Over three fiscal years V2X recorded $61M of stock-based pay expense and spent $30M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years V2X recorded $61M of stock-based pay expense and spent $30M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Profits growing faster than sales. Since 2022: revenue +55%, operating profit +248%.
Since 2022, V2X's revenue grew 55% while operating profit grew 248%: each extra dollar of sales is adding more profit.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.4B in 2020 to $4.5B in 2025.
V2X's fiscal-year revenue rose in each of the five years to 2025, from $1.4B to $4.5B.
Profit is backed by cash. Free cash flow is 142% of reported profit.
V2X's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

55/ 100

Oct 5 57 → Nov 4 55 (-2)

Valuation

Is the price right?

58/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 59 → 58

Share price +4.7%-2
Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ EBITDA yield
▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.6%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score -0.05Sector median: 0.0377 · MAD: 0.0294

EBITDA yield9.3%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score 0.55Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield5.1%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.39Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield44.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

74/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.8%

Why

Stronger than most peers on:

▲ Revenue growth
▲ EPS growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth31.6%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.99Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth8.3%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.65Sector median: 0.0421 · MAD: 0.0625

Revenue growth13.0%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.12Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

40/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin4.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.70Sector median: 0.0773 · MAD: 0.0507

Return on assets2.9%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.10Sector median: 0.0311 · MAD: 0.0241

Return on invested capital8.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.18Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin8.5%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity8.1%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.18

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.66Sector median: 0.6440 · MAD: 0.2745

Current ratio1.32×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.56Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.94×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.59Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about V2X

Is V2X getting weaker?: Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 55/100 since Oct 28, 2026.
How is V2X valued vs its peers?: Priced about in line with its peers. Valuation scores 58/100 against 2,459 industrials peers. EBITDA yield 9.3% vs a peer median of 6.9% (stronger than 63% of peers).EBITDA yield 9.3% vs peers 6.9% (stronger than 63% of peers).
Is V2X growing?: Yes, faster than most of its peers. Growth scores 74/100 against 2,459 industrials peers. Revenue growth 13.0% vs a peer median of 4.4% (stronger than 77% of peers).Revenue growth 13.0% vs peers 4.4% (stronger than 77% of peers).
How profitable is V2X?: About as profitable as its peers. Profitability scores 40/100 against 2,459 industrials peers. Operating margin 4.2% vs a peer median of 7.7% (weaker than 71% of peers).Operating margin 4.2% vs peers 7.7% (weaker than 71% of peers).
How risky is V2X?: Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 0.18 vs a peer median of 0.64 (stronger than 95% of peers).Beta 0.18 vs peers 0.64 (stronger than 95% of peers). Debt / equity 0.94× vs a peer median of 0.40× (weaker than 74% of peers).Debt / equity 0.94× vs peers 0.40× (weaker than 74% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 3, 2026 · filed Aug 3, 2026 · compared with the quarter ended Apr 3, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.7B USD	4.9B USD	+3.8%
Net income (12 months)	88.7M USD	91.8M USD	+3.6%
Operating margin	4.3%	4.2%	−0.1 pts
Free cash flow (12 months)	136.0M USD	130.4M USD	−4.1%
Debt	1.1B USD	1.1B USD	−1.1%
Cash	208.7M USD	214.3M USD	+2.7%
Shares outstanding	31.3M	31.3M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Aerospace & Defense · 48 companies

Valuations in Aerospace & Defense are near the top of their range since 2016.

88% of months since 2016 were valued lower than now.
50% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +71% and earnings +71% (medians): prices and earnings moved broadly together.
Median price-to-sales is +41% vs the whole market, against a usual −16%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	9.0%	10.2%	8.4%	7.9%	8.3%	▲ 0.4 pts
Operating margin	3.5%	1.9%	3.1%	3.7%	4.3%	▲ 0.7 pts
Net margin	2.6%	-0.5%	-0.6%	0.8%	1.7%	▲ 0.9 pts
Return on assets (ROA)	5.1%	-0.4%	-0.7%	1.1%	2.4%	▲ 1.3 pts
Return on equity (ROE)	13.1%	-1.4%	-2.3%	3.4%	7.2%	▲ 3.8 pts
Free cash flow margin	2.9%	2.8%	4.1%	5.6%	3.8%	▼ 1.8 pts
Current ratio	1.18×	1.19×	1.04×	1.11×	1.22×	▲ 9.9%
Quick ratio	—	1.13×	0.99×	1.06×	1.17×	▲ 11%
Debt to equity	0.30×	1.28×	1.13×	1.08×	1.01×	▼ 6.2%

VVX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: more debt relative to equity (0.94× vs a peer median of 0.40×)more debt vs equity (0.94× vs peers 0.40×)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #964 of 2,308 industrials companies (top 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $61M vs $30M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +2.9% from December 2022 to July 2026.

Over three fiscal years V2X recorded $61M of stock-based pay expense and spent $30M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years V2X recorded $61M of stock-based pay expense and spent $30M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Profits growing faster than sales. Since 2022: revenue +55%, operating profit +248%.

Since 2022, V2X's revenue grew 55% while operating profit grew 248%: each extra dollar of sales is adding more profit.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.4B in 2020 to $4.5B in 2025.

V2X's fiscal-year revenue rose in each of the five years to 2025, from $1.4B to $4.5B.

Profit is backed by cash. Free cash flow is 142% of reported profit.

V2X's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about V2X

Is V2X getting weaker?

Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 55/100 since Oct 28, 2026.

How is V2X valued vs its peers?

Priced about in line with its peers. Valuation scores 58/100 against 2,459 industrials peers. EBITDA yield 9.3% vs a peer median of 6.9% (stronger than 63% of peers).EBITDA yield 9.3% vs peers 6.9% (stronger than 63% of peers).

Is V2X growing?

Yes, faster than most of its peers. Growth scores 74/100 against 2,459 industrials peers. Revenue growth 13.0% vs a peer median of 4.4% (stronger than 77% of peers).Revenue growth 13.0% vs peers 4.4% (stronger than 77% of peers).

How profitable is V2X?

About as profitable as its peers. Profitability scores 40/100 against 2,459 industrials peers. Operating margin 4.2% vs a peer median of 7.7% (weaker than 71% of peers).Operating margin 4.2% vs peers 7.7% (weaker than 71% of peers).

How risky is V2X?

Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 0.18 vs a peer median of 0.64 (stronger than 95% of peers).Beta 0.18 vs peers 0.64 (stronger than 95% of peers). Debt / equity 0.94× vs a peer median of 0.40× (weaker than 74% of peers).Debt / equity 0.94× vs peers 0.40× (weaker than 74% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.7B USD

4.9B USD

+3.8%

Net income (12 months)

88.7M USD

91.8M USD

+3.6%

Operating margin

4.3%

4.2%

−0.1 pts

Free cash flow (12 months)

136.0M USD

130.4M USD

−4.1%

Debt

1.1B USD

1.1B USD

−1.1%

Cash

208.7M USD

214.3M USD

+2.7%

Shares outstanding

31.3M

31.3M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

9.0%

10.2%

8.4%

7.9%

8.3%

▲ 0.4 pts

Operating margin

3.5%

1.9%

3.1%

3.7%

4.3%

▲ 0.7 pts

Net margin

2.6%

-0.5%

-0.6%

0.8%

1.7%

▲ 0.9 pts

Return on assets (ROA)

5.1%

-0.4%

-0.7%

1.1%

2.4%

▲ 1.3 pts

Return on equity (ROE)

13.1%

-1.4%

-2.3%

3.4%

7.2%

▲ 3.8 pts

Free cash flow margin

2.9%

2.8%

4.1%

5.6%

3.8%

▼ 1.8 pts

Current ratio

1.18×

1.19×

1.04×

1.11×

1.22×

▲ 9.9%

Quick ratio

—

1.13×

0.99×

1.06×

1.17×

▲ 11%

Debt to equity

0.30×

1.28×

1.13×

1.08×

1.01×

▼ 6.2%