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V2X, Inc.

VVX Clue Score45
United States Fiscal year ends December CIK 0001601548
$71.44 +0.66% Close, 9 Oct 2026
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Price $71.44 +43.25% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,190.5Operating income42.8Net income23.7EPS, diluted2.16Fiscal year 2017Revenue1,114.8 −6.4%Operating income41.2Net income59.5 +151.5%EPS, diluted5.31Fiscal year 2018Revenue1,279.0 +14.7%Operating income48.1Net income35.1 −41.0%EPS, diluted3.08Fiscal year 2019Revenue1,382.5 +8.1%Operating income49.6Net income33.2 −5.4%EPS, diluted2.86Fiscal year 2020Revenue1,395.5 +0.9%Operating income43.5Net income37.0 +11.4%EPS, diluted3.14Fiscal year 2021Revenue1,783.7 +27.8%Operating income62.0Net income45.7 +23.8%EPS, diluted3.86Fiscal year 2022Revenue2,890.9 +62.1%Operating income55.8Net income−14.3 −131.3%EPS, diluted−0.68Fiscal year 2023Revenue3,963.1 +37.1%Operating income124.4Net income−22.6EPS, diluted−0.73Fiscal year 2024Revenue4,322.2 +9.1%Operating income159.2Net income34.7EPS, diluted1.08Fiscal year 2025Revenue4,480.0 +3.7%Operating income194.3Net income77.9 +124.5%EPS, diluted2.45
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,190.5 1,114.8 1,279.0 1,382.5 1,395.5 1,783.7 2,890.9 3,963.1 4,322.2 4,480.0
Growth −6.4% +14.7% +8.1% +0.9% +27.8% +62.1% +37.1% +9.1% +3.7%
Operating income 42.8 41.2 48.1 49.6 43.5 62.0 55.8 124.4 159.2 194.3
Net income 23.7 59.5 35.1 33.2 37.0 45.7 −14.3 −22.6 34.7 77.9
Growth +151.5% −41.0% −5.4% +11.4% +23.8% −131.3% +124.5%
EPS, diluted 2.16 5.31 3.08 2.86 3.14 3.86 −0.68 −0.73 1.08 2.45

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin3.6%Net margin2.0%Free cash flow margin3.0%Fiscal year 2017Operating margin3.7%Net margin5.3%Free cash flow margin3.0%Fiscal year 2018Operating margin3.8%Net margin2.7%Free cash flow margin2.3%Fiscal year 2019Operating margin3.6%Net margin2.4%Free cash flow margin0.8%Fiscal year 2020Operating margin3.1%Net margin2.6%Free cash flow margin4.3%Fiscal year 2021Operating margin3.5%Net margin2.6%Free cash flow margin2.9%Fiscal year 2022Operating margin1.9%Net margin−0.5%Free cash flow margin2.8%Fiscal year 2023Operating margin3.1%Net margin−0.6%Free cash flow margin4.1%Fiscal year 2024Operating margin3.7%Net margin0.8%Free cash flow margin5.6%Fiscal year 2025Operating margin4.3%Net margin1.7%Free cash flow margin3.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 3.6% 3.7% 3.8% 3.6% 3.1% 3.5% 1.9% 3.1% 3.7% 4.3%
Net margin 2.0% 5.3% 2.7% 2.4% 2.6% 2.6% −0.5% −0.6% 0.8% 1.7%
Free cash flow margin 3.0% 3.0% 2.3% 0.8% 4.3% 2.9% 2.8% 4.1% 5.6% 3.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow36.6Capital expenditure−0.7Free cash flow35.9Fiscal year 2017Operating cash flow35.4Capital expenditure−2.3Free cash flow33.1 −7.8%Fiscal year 2018Operating cash flow40.1Capital expenditure−10.0Free cash flow30.0 −9.2%Fiscal year 2019Operating cash flow27.6Capital expenditure−16.2Free cash flow11.4 −62.0%Fiscal year 2020Operating cash flow64.1Capital expenditure−4.5Free cash flow59.6 +422.4%Fiscal year 2021Operating cash flow61.3Capital expenditure−9.8Free cash flow51.6 −13.5%Fiscal year 2022Operating cash flow93.5Capital expenditure−12.4Free cash flow81.1 +57.2%Fiscal year 2023Operating cash flow188.0Capital expenditure−25.0Free cash flow162.9 +101.0%Buybacks0.0Fiscal year 2024Operating cash flow254.2Capital expenditure−11.8Free cash flow242.5 +48.8%Buybacks0.0Fiscal year 2025Operating cash flow182.0Capital expenditure−11.9Free cash flow170.1 −29.9%Buybacks−30.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 36.6 35.4 40.1 27.6 64.1 61.3 93.5 188.0 254.2 182.0
Capital expenditure −0.7 −2.3 −10.0 −16.2 −4.5 −9.8 −12.4 −25.0 −11.8 −11.9
Free cash flow 35.9 33.1 30.0 11.4 59.6 51.6 81.1 162.9 242.5 170.1
Growth −7.8% −9.2% −62.0% +422.4% −13.5% +57.2% +101.0% +48.8% −29.9%
Buybacks n/a n/a n/a n/a n/a n/a n/a 0.0 0.0 −30.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash47.7Total debt83.6Net cash (debt)−35.9Shareholders’ equity117.4Debt to equity0.71Fiscal year 2017Cash77.5Total debt77.2Net cash (debt)0.2Shareholders’ equity182.6Debt to equity0.42Fiscal year 2018Cash66.1Total debt73.6Net cash (debt)−7.5Shareholders’ equity220.3Debt to equity0.33Fiscal year 2019Cash35.3Total debt69.5Net cash (debt)−34.2Shareholders’ equity258.9Debt to equity0.27Fiscal year 2020Cash66.9Total debt177.4Net cash (debt)−110.4Shareholders’ equity304.9Debt to equity0.58Fiscal year 2021Cash38.5Total debt104.6Net cash (debt)−66.1Shareholders’ equity350.1Debt to equity0.30Fiscal year 2022Cash116.1Total debt1,274.7Net cash (debt)−1,158.6Shareholders’ equity997.1Debt to equity1.28Fiscal year 2023Cash72.7Total debt1,115.6Net cash (debt)−1,043.0Shareholders’ equity990.8Debt to equity1.13Fiscal year 2024Cash268.3Total debt1,107.5Net cash (debt)−839.2Shareholders’ equity1,026.2Debt to equity1.08Fiscal year 2025Cash369.0Total debt1,098.2Net cash (debt)−729.2Shareholders’ equity1,084.6Debt to equity1.01
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 47.7 77.5 66.1 35.3 66.9 38.5 116.1 72.7 268.3 369.0
Total debt 83.6 77.2 73.6 69.5 177.4 104.6 1,274.7 1,115.6 1,107.5 1,098.2
Net cash (debt) −35.9 0.2 −7.5 −34.2 −110.4 −66.1 −1,158.6 −1,043.0 −839.2 −729.2
Shareholders’ equity 117.4 182.6 220.3 258.9 304.9 350.1 997.1 990.8 1,026.2 1,084.6
Debt to equity 0.71 0.42 0.33 0.27 0.58 0.30 1.28 1.13 1.08 1.01

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,190.5 1,114.8 1,279.0 1,382.5 1,395.5 1,783.7 2,890.9 3,963.1 4,322.2 4,480.0
Growth −6.4% +14.7% +8.1% +0.9% +27.8% +62.1% +37.1% +9.1% +3.7%
1,083.6 1,012.8 1,164.6 1,254.6 1,271.4 1,623.2 2,595.8 3,628.3 3,979.2 4,106.7
64.1 60.7 66.4 78.3 80.7 98.4 239.2 210.4 183.8 179.1
42.8 41.2 48.1 49.6 43.5 62.0 55.8 124.4 159.2 194.3
Growth −3.8% +16.6% +3.3% −12.4% +42.7% −10.1% +123.1% +28.0% +22.0%
37.2 36.6 43.0 43.2 38.7 54.0 −6.1 −24.5 38.8 100.9
13.5 −22.9 7.9 10.0 1.7 8.3 8.2 −1.9 4.2 23.0
23.7 59.5 35.1 33.2 37.0 45.7 −14.3 −22.6 34.7 77.9
Growth +151.5% −41.0% −5.4% +11.4% +23.8% −131.3% +124.5%
Per share
2.21 5.40 3.13 2.90 3.19 3.91 −0.68 −0.73 1.10 2.47
2.16 5.31 3.08 2.86 3.14 3.86 −0.68 −0.73 1.08 2.45
Growth +145.8% −42.0% −7.1% +9.8% +22.9% −117.6% +126.9%
10.7 11.0 11.2 11.4 11.6 11.7 21.0 31.1 31.5 31.6
11.0 11.2 11.4 11.6 11.8 11.8 21.0 31.1 32.0 31.8
Growth +2.1% +1.5% +2.1% +1.2% +0.7% +77.4% +48.0% +2.8% −0.5%

† The diluted share count jumps at 2022, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 26.3% a year over five years.
  • Operating margin is up 1.2 points on five years ago, at 4.3%.
  • A net loss in 2 of 10 years on file.