V2X (VVX) Financials

$69.93 +0.75 (+1.09%)

As of 01:07 PM Eastern

Annual Income Statements for V2X

This table shows V2X's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	31	24	59	35	33	37	46	-14	-23	35	78
Consolidated Net Income / (Loss)	31	24	59	35	33	37	46	-14	-23	35	78
Net Income / (Loss) Continuing Operations	31	24	59	35	33	37	46	-14	-23	35	78
Total Pre-Tax Income	33	37	37	43	43	39	54	-6.11	-25	39	101
Total Operating Income	40	43	41	48	50	43	62	56	124	159	194
Total Gross Profit	106	107	102	114	128	124	160	295	335	343	373
Total Revenue	1,181	1,191	1,115	1,279	1,383	1,396	1,784	2,891	3,963	4,322	4,480
Operating Revenue	1,181	1,191	1,115	1,279	1,383	1,396	1,784	2,891	3,963	4,322	4,480
Total Cost of Revenue	1,075	1,084	1,013	1,165	1,255	1,271	1,623	2,596	3,628	3,979	4,107
Operating Cost of Revenue	1,075	1,084	1,013	1,165	1,255	1,271	1,623	2,596	3,628	3,979	4,107
Total Operating Expenses	66	64	61	66	78	81	98	239	210	184	179
Selling, General & Admin Expense	66	64	61	66	78	81	98	239	210	184	179
Total Other Income / (Expense), net	-6.53	-5.64	-4.64	-5.07	-6.47	-4.79	-7.99	-62	-149	-120	-93
Interest Expense	-	-	-	-	-	-	0.00	0.00	22	2.00	2.53
Interest & Investment Income	-6.53	-5.64	-4.64	-5.07	-6.47	-4.79	-7.99	-62	-122	-108	-80
Other Income / (Expense), net	-	-	-	-	-	-	0.00	0.00	-4.19	-10	-11
Income Tax Expense	2.46	14	-23	7.90	10	1.73	8.31	8.22	-1.95	4.16	23
Basic Earnings per Share	$2.94	$2.21	$5.40	$3.13	$2.90	$3.19	$3.91	($0.68)	($0.73)	$1.10	$2.47
Weighted Average Basic Shares Outstanding	10.55M	10.71M	11.02M	11.22M	11.44M	11.60M	11.71M	21.00M	31.08M	31.49M	31.56M
Diluted Earnings per Share	$2.86	$2.16	$5.31	$3.08	$2.86	$3.14	$3.86	($0.68)	($0.73)	$1.08	$2.45
Weighted Average Diluted Shares Outstanding	10.83M	10.97M	11.21M	11.38M	11.61M	11.75M	11.84M	21.00M	31.08M	31.97M	31.82M
Weighted Average Basic & Diluted Shares Outstanding	10.50M	10.70M	11M	11.20M	11.52M	11.63M	11.74M	30.93M	31.33M	31.57M	31.17M

This table shows V2X's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Income / (Loss) Attributable to Common Shareholders	-6.40	-0.49	1.12	-6.54	15	25	8.11	22	25	23	19
Consolidated Net Income / (Loss)	-6.40	-0.49	1.14	-6.54	15	25	8.11	22	25	23	19
Net Income / (Loss) Continuing Operations	-6.40	-0.49	1.12	-6.54	15	25	8.11	22	25	23	19
Total Pre-Tax Income	-11	7.93	1.12	-8.11	20	26	10	29	33	29	24
Total Operating Income	21	39	30	27	50	52	34	53	56	51	44
Total Gross Profit	71	98	70	74	91	107	78	96	95	105	106
Total Revenue	1,002	1,040	1,011	1,072	1,082	1,158	1,016	1,078	1,167	1,219	1,254
Operating Revenue	1,002	1,040	1,011	1,072	1,082	1,158	1,016	1,078	1,167	1,219	1,254
Total Cost of Revenue	931	942	940	998	990	1,050	938	983	1,073	1,114	1,148
Operating Cost of Revenue	931	942	940	998	990	1,050	938	983	1,073	1,114	1,148
Total Operating Expenses	50	59	40	46	42	56	44	43	39	54	62
Selling, General & Admin Expense	50	59	40	46	42	56	44	43	39	54	62
Total Other Income / (Expense), net	-32	-31	-29	-36	-30	-25	-24	-23	-23	-23	-21
Interest Expense	0.00	0.25	0.00	2.00	0.00	-	2.21	0.31	0.00	-	0.00
Interest & Investment Income	-30	-28	-28	-29	-27	-24	-20	-21	-20	-20	-18
Other Income / (Expense), net	-2.02	-1.86	-1.63	-4.74	-3.20	-0.90	-2.30	-2.58	-2.96	-3.10	-2.45
Income Tax Expense	-4.84	8.42	0.00	-1.57	4.49	1.24	1.96	7.06	8.14	5.86	4.59
Basic Earnings per Share	($0.21)	($0.01)	$0.04	($0.21)	$0.48	$0.79	$0.26	$0.71	$0.78	$0.72	$0.61
Weighted Average Basic Shares Outstanding	31.18M	31.08M	31.35M	31.47M	31.55M	31.49M	31.59M	31.69M	31.62M	31.56M	31.21M
Diluted Earnings per Share	($0.21)	($0.01)	$0.04	($0.21)	$0.47	$0.78	$0.25	$0.70	$0.77	$0.73	$0.60
Weighted Average Diluted Shares Outstanding	31.18M	31.08M	31.79M	31.47M	31.97M	31.97M	32.02M	31.88M	31.86M	31.82M	31.51M
Weighted Average Basic & Diluted Shares Outstanding	31.19M	31.33M	31.46M	31.56M	31.56M	31.57M	31.68M	31.71M	31.54M	31.17M	31.31M

This table details how cash moves in and out of V2X's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-2.83	7.66	30	-10	-31	33	-30	78	-43	196	101
Net Cash From Operating Activities	19	37	35	40	28	64	61	93	188	254	182
Net Cash From Continuing Operating Activities	19	37	35	40	28	64	61	93	188	254	182
Net Income / (Loss) Continuing Operations	31	24	59	35	33	37	46	-14	-23	35	78
Consolidated Net Income / (Loss)	31	24	59	35	33	37	46	-14	-23	35	78
Depreciation Expense	3.14	1.90	1.69	1.80	3.38	4.10	6.53	13	22	21	17
Amortization Expense	1.13	1.20	1.46	2.43	3.52	4.42	11	57	100	102	102
Non-Cash Adjustments To Reconcile Net Income	7.34	5.05	4.47	4.44	8.32	9.43	8.40	31	55	19	11
Changes in Operating Assets and Liabilities, net	-24	4.79	-32	-3.70	-21	9.19	-10	6.68	33	78	-26
Net Cash From Investing Activities	0.12	-0.05	-2.34	-47	-56	-138	-13	176	-23	-29	-30
Net Cash From Continuing Investing Activities	0.12	-0.05	-2.34	-47	-56	-138	-13	176	-23	-29	-30
Purchase of Property, Plant & Equipment	-0.79	-0.74	-2.34	-10	-16	-4.50	-9.78	-12	-25	-12	-12
Acquisitions	-	0.00	0.00	-37	-45	-134	0.26	194	0.00	-17	-28
Sale of Property, Plant & Equipment	0.39	0.12	0.00	0.03	5.40	0.08	0.02	0.01	0.02	0.08	9.84
Divestitures	-	-	-	-	-	0.00	0.00	-5.30	1.35	0.00	0.00
Sale and/or Maturity of Investments	0.52	0.57	-	-	-	-	-	0.00	1.01	0.00	0.00
Net Cash From Financing Activities	-22	-28	-7.13	-3.29	-1.90	106	-76	-193	-211	-24	-51
Net Cash From Continuing Financing Activities	-22	-28	-7.13	-3.29	-1.90	106	-76	-193	-211	-24	-51
Repayment of Debt	-347	-103	-130	-211	-338	-206	-603	-584	-1,366	-1,283	-681
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	-30
Issuance of Debt	324	74	123	207	334	314	529	392	1,173	1,266	663
Other Financing Activities, net	1.67	1.16	0.71	0.72	2.60	-1.90	-1.97	-1.59	-18	-7.98	-2.56
Effect of Exchange Rate Changes	-0.12	-0.85	3.87	-	-0.66	-	-	1.34	-	-	-0.26
Cash Interest Paid	6.05	5.28	5.89	4.97	6.23	3.72	5.80	54	117	108	78
Cash Income Taxes Paid	16	26	4.80	12	4.51	15	9.70	13	8.36	8.82	9.63

This table details how cash moves in and out of V2X's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Change in Cash & Equivalents	7.95	-5.61	-37	9.11	15	208	-99	21	-8.14	187	-160
Net Cash From Operating Activities	57	53	-57	26	63	223	-95	29	39	209	-130
Net Cash From Continuing Operating Activities	57	53	-57	26	63	223	-95	29	39	209	-130
Net Income / (Loss) Continuing Operations	-6.40	-0.49	1.14	-6.54	15	25	8.11	22	25	23	19
Consolidated Net Income / (Loss)	-6.40	-0.49	1.14	-6.54	15	25	8.11	22	25	23	19
Depreciation Expense	5.21	5.88	6.24	5.63	4.57	4.31	4.25	3.93	4.29	4.52	3.96
Amortization Expense	25	25	25	26	25	25	25	25	25	26	26
Non-Cash Adjustments To Reconcile Net Income	6.47	5.89	5.16	11	1.98	1.18	4.92	4.11	3.44	-1.05	3.61
Changes in Operating Assets and Liabilities, net	27	16	-95	-10	16	167	-138	-27	-18	157	-182
Net Cash From Investing Activities	-4.17	-6.94	-25	-0.73	-2.19	-1.03	-2.61	-2.48	-30	5.29	-2.29
Net Cash From Continuing Investing Activities	-4.17	-6.94	-25	-0.73	-2.19	-1.03	-2.61	-2.48	-30	5.29	-2.29
Purchase of Property, Plant & Equipment	-5.02	-8.46	-7.78	-0.74	-2.19	-1.09	-2.70	-2.48	-4.48	-2.26	-2.29
Sale of Property, Plant & Equipment	0.01	-	0.01	0.01	0.00	0.06	0.09	-	2.20	7.55	0.00
Net Cash From Financing Activities	-42	-55	46	-15	-48	-7.76	-3.80	-6.82	-13	-28	-28
Net Cash From Continuing Financing Activities	-42	-55	46	-15	-48	-7.76	-3.80	-6.82	-13	-28	-28
Repayment of Debt	-206	-258	-323	-289	-407	-265	-142	-184	-144	-211	-24
Issuance of Debt	167	203	375	274	361	257	141	178	140	204	0.00
Issuance of Common Equity	0.00	-	0.00	0.15	0.01	-	0.08	-	0.48	-	0.06
Other Financing Activities, net	-3.25	-0.13	-5.70	-0.07	-2.27	0.05	-2.65	-0.32	-0.01	0.42	-4.76
Effect of Exchange Rate Changes	-	-	-1.52	-0.90	-	-	2.61	-	-	-	0.31
Cash Interest Paid	31	28	27	28	19	33	13	20	20	26	17
Cash Income Taxes Paid	2.54	3.11	1.01	6.93	1.22	-0.35	0.32	4.84	1.27	3.20	2.71

This table presents V2X's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	484	465	496	572	636	844	889	3,233	3,082	3,229	3,281
Total Current Assets	262	244	272	313	321	408	423	932	875	1,102	1,235
Cash & Equivalents	40	48	77	66	35	67	39	116	73	268	369
Accounts Receivable	212	183	188	232	269	315	349	729	706	710	739
Prepaid Expenses	-	-	-	-	-	16	21	42	49	124	127
Plant, Property, & Equipment, net	4.76	3.06	3.73	13	19	23	24	79	85	62	52
Total Noncurrent Assets	218	218	220	245	297	413	442	2,222	2,122	2,064	1,993
Goodwill	217	217	217	234	262	340	322	1,654	1,657	1,657	1,677
Intangible Assets	-	-	0.12	8.63	15	48	67	498	408	323	240
Other Noncurrent Operating Assets	1.20	1.18	2.82	3.25	20	25	54	71	57	84	77
Total Liabilities & Shareholders' Equity	484	465	496	572	636	844	889	3,233	3,082	3,229	3,281
Total Liabilities	395	348	312	351	378	539	539	2,236	2,091	2,203	2,196
Total Current Liabilities	213	188	182	225	245	288	358	783	840	996	1,016
Short-Term Debt	22	16	4.00	4.50	6.50	8.60	10	12	15	20	15
Accounts Payable	122	118	116	156	148	160	213	407	453	548	557
Accrued Expenses	25	18	19	22	37	41	55	197	214	262	267
Current Employee Benefit Liabilities	37	35	39	42	53	80	80	168	158	167	177
Total Noncurrent Liabilities	183	160	130	126	132	250	181	1,453	1,251	1,206	1,181
Long-Term Debt	90	68	73	69	63	169	94	1,263	1,100	1,087	1,083
Noncurrent Deferred & Payable Income Tax Liabilities	91	90	55	55	49	39	32	16	12	21	28
Other Noncurrent Operating Liabilities	1.61	2.56	1.46	1.46	20	42	55	174	139	98	69
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	89	117	183	221	259	305	350	997	991	1,026	1,085
Total Preferred & Common Equity	89	117	183	221	259	305	350	997	991	1,026	1,085
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	89	117	183	221	259	305	350	997	991	1,026	1,085
Common Stock	59	64	68	72	79	83	88	749	763	770	779
Retained Earnings	34	58	117	153	185	222	268	253	231	266	343
Treasury Stock	-	-	-	-	-	-	-	-	-	0.00	-30
Accumulated Other Comprehensive Income / (Loss)	-3.74	-4.58	-1.68	-3.16	-5.08	-0.03	-5.90	-5.53	-2.69	-9.42	-7.91

This table presents V2X's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/29/2023	3/29/2024	6/28/2024	9/27/2024	3/28/2025	6/27/2025	9/26/2025	4/3/2026
Total Assets	3,168	3,209	3,179	3,126	3,140	3,151	3,126	3,103	3,146	3,178	3,189
Total Current Assets	925	926	919	894	954	977	982	1,003	1,067	1,099	1,169
Cash & Equivalents	144	62	70	78	36	45	60	169	190	182	209
Accounts Receivable	691	760	747	715	788	782	766	705	739	773	829
Prepaid Expenses	74	78	78	81	129	150	156	128	138	143	132
Plant, Property, & Equipment, net	76	82	82	83	93	70	66	60	61	58	51
Total Noncurrent Assets	2,167	2,201	2,178	2,150	2,093	2,104	2,078	2,041	2,017	2,022	1,969
Goodwill	1,538	1,656	1,657	1,657	1,648	1,656	1,653	1,657	1,657	1,677	1,677
Intangible Assets	560	475	453	430	389	367	346	301	278	263	217
Other Noncurrent Operating Assets	70	70	68	62	55	81	79	83	82	82	75
Total Liabilities & Shareholders' Equity	3,168	3,209	3,179	3,126	3,140	3,151	3,126	3,103	3,146	3,178	3,189
Total Liabilities	2,180	2,231	2,186	2,137	2,146	2,159	2,124	2,068	2,080	2,098	2,086
Total Current Liabilities	718	760	832	830	853	888	906	867	887	914	933
Short-Term Debt	12	16	16	16	15	17	17	20	15	15	15
Accounts Payable	386	403	416	438	431	462	538	441	435	487	467
Accrued Expenses	172	198	255	238	267	242	235	282	287	255	281
Current Employee Benefit Liabilities	148	144	145	139	139	166	116	124	150	157	170
Total Noncurrent Liabilities	1,462	1,471	1,354	1,307	1,293	1,271	1,217	1,201	1,193	1,184	1,153
Long-Term Debt	1,287	1,292	1,190	1,153	1,154	1,142	1,097	1,090	1,092	1,089	1,061
Noncurrent Deferred & Payable Income Tax Liabilities	50	9.93	14	9.09	14	11	12	18	18	13	30
Other Noncurrent Operating Liabilities	125	169	150	145	125	118	108	92	84	82	61
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	988	978	993	989	994	992	1,003	1,036	1,066	1,080	1,104
Total Preferred & Common Equity	988	978	993	989	994	992	1,003	1,036	1,066	1,080	1,104
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	988	978	993	989	994	992	1,003	1,036	1,066	1,080	1,104
Common Stock	736	748	754	757	762	768	767	770	773	777	778
Retained Earnings	264	236	238	231	232	225	241	274	296	321	362
Treasury Stock	-	-	-	-	-	-	-	-	-	-10	-30
Accumulated Other Comprehensive Income / (Loss)	-11	-5.92	0.57	0.66	-0.18	-1.80	-4.95	-7.74	-3.61	-7.67	-6.84

This table displays calculated financial ratios and metrics derived from V2X's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.61%	0.83%	-6.36%	14.73%	8.09%	0.94%	27.81%	62.07%	37.09%	9.06%	3.65%
EBITDA Growth	8.54%	3.83%	-3.38%	17.82%	8.16%	-8.06%	52.90%	58.78%	92.23%	11.71%	11.47%
EBIT Growth	4.02%	7.17%	-3.75%	16.58%	3.32%	-12.44%	42.66%	-10.08%	115.56%	23.72%	23.26%
NOPAT Growth	55.85%	-26.42%	146.10%	-41.49%	-2.75%	8.87%	26.38%	-25.62%	123.08%	63.24%	5.47%
Net Income Growth	35.78%	-23.63%	151.52%	-41.03%	-5.44%	11.38%	23.75%	-131.34%	-57.52%	253.65%	124.55%
EPS Growth	34.27%	-24.48%	145.83%	-42.00%	-7.14%	9.79%	22.93%	-117.62%	-7.35%	247.95%	126.85%
Operating Cash Flow Growth	-56.07%	93.95%	-3.30%	13.12%	-31.20%	132.54%	-4.28%	52.42%	101.05%	35.26%	-28.42%
Free Cash Flow Firm Growth	-64.83%	65.82%	6.96%	-117.28%	-306.24%	-201.90%	163.12%	-3,512.60%	112.29%	48.64%	-35.15%
Invested Capital Growth	11.05%	-4.72%	19.43%	24.93%	28.10%	41.11%	0.64%	417.92%	-5.65%	-8.28%	-2.76%
Revenue Q/Q Growth	2.49%	-1.90%	0.69%	2.69%	2.66%	-0.70%	3.73%	23.96%	1.59%	2.79%	1.38%
EBITDA Q/Q Growth	11.06%	-6.55%	5.82%	4.01%	7.62%	-3.39%	-1.77%	56.99%	2.32%	5.17%	-0.62%
EBIT Q/Q Growth	8.54%	-6.01%	4.36%	4.58%	7.05%	-4.24%	-5.64%	60.44%	2.83%	10.38%	-1.29%
NOPAT Q/Q Growth	8.74%	-6.89%	166.22%	-47.64%	1.69%	18.01%	-14.69%	-40.28%	6.42%	117.89%	-5.19%
Net Income Q/Q Growth	9.28%	-6.15%	166.35%	-47.43%	2.25%	19.92%	-16.89%	-479.50%	30.97%	278.69%	-2.81%
EPS Q/Q Growth	10.85%	-6.49%	165.50%	-47.97%	1.42%	19.85%	-17.34%	-158.12%	62.56%	272.41%	-2.00%
Operating Cash Flow Q/Q Growth	47.01%	-13.47%	38.69%	84.88%	-53.96%	74.30%	-23.14%	-6.05%	37.09%	203.04%	-6.98%
Free Cash Flow Firm Q/Q Growth	0.00%	-8.99%	56.61%	67.30%	-657.27%	-371.80%	175.87%	-2.32%	46.89%	252.13%	-5.43%
Invested Capital Q/Q Growth	0.93%	1.93%	20.61%	-7.16%	4.96%	44.91%	0.88%	0.74%	-2.19%	-9.29%	-9.38%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	8.95%	8.98%	9.15%	8.95%	9.26%	8.90%	8.99%	10.21%	8.45%	7.94%	8.33%
EBITDA Margin	3.75%	3.86%	3.98%	4.09%	4.09%	3.73%	4.46%	4.37%	6.12%	6.27%	6.74%
Operating Margin	3.38%	3.60%	3.70%	3.76%	3.59%	3.12%	3.48%	1.93%	3.14%	3.68%	4.34%
EBIT Margin	3.38%	3.60%	3.70%	3.76%	3.59%	3.12%	3.48%	1.93%	3.03%	3.44%	4.09%
Profit (Net Income) Margin	2.62%	1.99%	5.34%	2.74%	2.40%	2.65%	2.56%	-0.50%	-0.57%	0.80%	1.74%
Tax Burden Percent	92.65%	63.61%	162.65%	81.63%	76.83%	95.53%	84.63%	234.61%	92.07%	89.30%	77.19%
Interest Burden Percent	83.66%	86.83%	88.74%	89.45%	86.97%	88.98%	87.13%	-10.95%	-20.39%	26.11%	55.04%
Effective Tax Rate	7.35%	36.39%	-62.65%	18.37%	23.17%	4.47%	15.37%	0.00%	0.00%	10.70%	22.82%
Return on Invested Capital (ROIC)	24.21%	17.34%	39.85%	19.05%	14.62%	11.75%	12.65%	3.04%	4.16%	7.29%	8.15%
ROIC Less NNEP Spread (ROIC-NNEP)	16.77%	10.67%	-2.43%	-95.14%	-9.21%	5.34%	4.92%	-5.68%	-5.80%	-4.13%	-1.04%
Return on Net Nonoperating Assets (RNNOA)	19.05%	5.55%	-0.29%	-1.70%	-0.80%	1.35%	1.31%	-5.16%	-6.43%	-3.85%	-0.77%
Return on Equity (ROE)	43.26%	22.89%	39.56%	17.34%	13.82%	13.11%	13.96%	-2.13%	-2.27%	3.44%	7.38%
Cash Return on Invested Capital (CROIC)	13.74%	22.17%	22.15%	-3.13%	-10.02%	-22.34%	12.01%	-132.23%	9.98%	15.93%	10.95%
Operating Return on Assets (OROA)	8.15%	9.02%	8.58%	9.00%	8.22%	5.87%	7.16%	2.71%	3.81%	4.71%	5.63%
Return on Assets (ROA)	6.32%	4.98%	12.38%	6.57%	5.49%	4.99%	5.28%	-0.70%	-0.71%	1.10%	2.39%
Return on Common Equity (ROCE)	43.26%	22.89%	39.56%	17.34%	13.82%	13.11%	13.96%	-2.13%	-2.27%	3.44%	7.38%
Return on Equity Simple (ROE_SIMPLE)	34.68%	20.15%	32.45%	15.85%	12.82%	12.12%	13.06%	-1.44%	-2.28%	3.38%	0.00%
Net Operating Profit after Tax (NOPAT)	37	27	67	39	38	42	52	39	87	142	150
NOPAT Margin	3.14%	2.29%	6.01%	3.07%	2.76%	2.98%	2.94%	1.35%	2.20%	3.29%	3.35%
Net Nonoperating Expense Percent (NNEP)	7.44%	6.67%	42.28%	114.19%	23.83%	6.41%	7.73%	8.72%	9.96%	11.42%	9.19%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.72%	4.13%	6.66%	6.87%
Cost of Revenue to Revenue	91.05%	91.02%	90.85%	91.05%	90.74%	91.10%	91.01%	89.80%	91.55%	92.07%	91.67%
SG&A Expenses to Revenue	5.56%	5.38%	5.45%	5.19%	5.66%	5.78%	5.52%	8.28%	5.31%	4.25%	4.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.56%	5.38%	5.45%	5.19%	5.66%	5.78%	5.52%	8.28%	5.31%	4.25%	4.00%
Earnings before Interest and Taxes (EBIT)	40	43	41	48	50	43	62	56	120	149	183
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	44	46	44	52	57	52	79	126	243	271	302
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.48	2.19	1.87	1.10	2.28	1.90	1.53	1.26	1.46	1.47	1.59
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.19	0.22	0.31	0.19	0.43	0.41	0.30	0.44	0.37	0.35	0.38
Price to Earnings (P/E)	7.15	10.86	5.76	6.93	17.78	15.64	11.74	0.00	0.00	43.52	22.09
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	13.99%	9.21%	17.35%	14.44%	5.62%	6.39%	8.52%	0.00%	0.00%	2.30%	4.53%
Enterprise Value to Invested Capital (EV/IC)	1.82	1.91	1.87	1.09	2.13	1.66	1.45	1.12	1.23	1.26	1.35
Enterprise Value to Revenue (EV/Rev)	0.25	0.25	0.31	0.20	0.45	0.49	0.34	0.84	0.63	0.54	0.55
Enterprise Value to EBITDA (EV/EBITDA)	6.62	6.38	7.72	4.79	11.04	13.21	7.59	19.15	10.27	8.67	8.11
Enterprise Value to EBIT (EV/EBIT)	7.33	6.84	8.31	5.21	12.57	15.79	9.72	43.33	20.72	15.79	13.36
Enterprise Value to NOPAT (EV/NOPAT)	7.91	10.75	5.11	6.39	16.36	16.53	11.49	61.90	28.61	16.52	16.34
Enterprise Value to Operating Cash Flow (EV/OCF)	15.52	8.00	9.68	6.25	22.65	10.71	9.83	25.85	13.26	9.24	13.46
Enterprise Value to Free Cash Flow (EV/FCFF)	13.95	8.41	9.20	0.00	0.00	0.00	12.10	0.00	11.92	7.56	12.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.25	0.71	0.42	0.33	0.27	0.58	0.30	1.28	1.13	1.08	1.01
Long-Term Debt to Equity	1.00	0.58	0.40	0.31	0.24	0.55	0.27	1.27	1.11	1.06	1.00
Financial Leverage	1.14	0.52	0.12	0.02	0.09	0.25	0.27	0.91	1.11	0.93	0.74
Leverage Ratio	6.85	4.59	3.19	2.64	2.52	2.63	2.65	3.06	3.18	3.13	3.08
Compound Leverage Factor	5.73	3.99	2.84	2.36	2.19	2.34	2.31	-0.34	-0.65	0.82	1.70
Debt to Total Capital	55.55%	41.59%	29.63%	24.97%	21.18%	36.77%	23.01%	56.11%	52.96%	51.91%	50.31%
Short-Term Debt to Total Capital	10.95%	7.84%	1.54%	1.53%	1.98%	1.78%	2.29%	0.52%	0.73%	0.94%	0.68%
Long-Term Debt to Total Capital	44.60%	33.75%	28.10%	23.44%	19.20%	34.99%	20.73%	55.59%	52.23%	50.97%	49.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.45%	58.41%	70.37%	75.03%	78.82%	63.23%	76.99%	43.89%	47.04%	48.09%	49.69%
Debt to EBITDA	2.52	1.82	1.74	1.41	1.23	3.41	1.32	10.10	4.60	4.09	3.64
Net Debt to EBITDA	1.62	0.78	-0.01	0.14	0.61	2.09	0.83	9.18	4.30	3.10	2.41
Long-Term Debt to EBITDA	2.03	1.48	1.65	1.32	1.11	3.25	1.19	10.01	4.54	4.01	3.59
Debt to NOPAT	3.01	3.07	1.15	1.88	1.82	4.27	1.99	32.65	12.81	7.79	7.32
Net Debt to NOPAT	1.93	1.32	0.00	0.19	0.90	2.62	1.26	29.68	11.98	5.90	4.86
Long-Term Debt to NOPAT	2.42	2.49	1.09	1.76	1.65	4.06	1.80	32.35	12.63	7.65	7.22
Altman Z-Score	3.27	3.63	3.73	3.49	3.92	3.01	3.34	1.45	1.95	2.06	2.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.23	1.30	1.49	1.39	1.31	1.42	1.18	1.19	1.04	1.10	1.22
Quick Ratio	1.18	1.23	1.46	1.33	1.24	1.32	1.08	1.08	0.93	0.98	1.09
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	21	35	37	-6.44	-26	-79	50	-1,700	209	311	201
Operating Cash Flow to CapEx	4,650.25%	5,858.88%	1,510.67%	400.88%	256.32%	1,451.11%	628.47%	753.02%	751.72%	2,170.92%	8,732.82%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.37	155.47	79.72
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.43	127.25	72.02
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.31	121.38	71.19
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.41	2.51	2.32	2.40	2.29	1.89	2.06	1.40	1.26	1.37	1.38
Accounts Receivable Turnover	5.60	6.03	6.01	6.09	5.52	4.78	5.38	5.37	5.53	6.10	6.18
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	78.91	81.31	0.00
Fixed Asset Turnover	172.59	304.36	328.17	149.14	85.70	67.39	77.00	56.42	48.29	58.63	78.33
Accounts Payable Turnover	9.07	9.01	8.66	8.55	8.24	8.27	8.72	8.38	8.44	7.95	7.44
Days Sales Outstanding (DSO)	65.17	60.53	60.71	59.91	66.17	76.39	67.89	68.00	66.06	59.79	59.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.63	4.49	0.00
Days Payable Outstanding (DPO)	40.22	40.50	42.16	42.67	44.28	44.15	41.84	43.54	43.25	45.89	49.09
Cash Conversion Cycle (CCC)	24.95	20.03	18.55	17.24	21.89	32.23	26.06	24.47	27.44	18.39	9.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	161	153	183	229	293	414	416	2,156	2,034	1,865	1,814
Invested Capital Turnover	7.72	7.58	6.63	6.21	5.30	3.95	4.30	2.25	1.89	2.22	2.44
Increase / (Decrease) in Invested Capital	16	-7.59	30	46	64	120	2.66	1,739	-122	-168	-52
Enterprise Value (EV)	293	293	343	251	624	687	603	2,417	2,492	2,349	2,449
Market Capitalization	221	257	343	243	590	578	537	1,258	1,449	1,510	1,720
Book Value per Share	$8.43	$10.90	$16.50	$19.65	$22.49	$26.23	$29.85	$32.73	$31.77	$32.51	$34.39
Tangible Book Value per Share	($12.04)	($9.24)	($3.03)	($1.86)	($1.57)	($7.13)	($3.26)	($37.90)	($34.42)	($30.22)	($26.39)
Total Capital	201	201	261	295	328	482	455	2,272	2,106	2,134	2,183
Total Debt	112	84	77	74	70	177	105	1,275	1,116	1,107	1,098
Total Long-Term Debt	90	68	73	69	63	169	94	1,263	1,100	1,087	1,083
Net Debt	72	36	-0.24	7.49	34	109	66	1,159	1,043	839	729
Capital Expenditures (CapEx)	0.41	0.63	2.34	9.99	11	4.42	9.76	12	25	12	2.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)	31	24	16	27	47	60	37	45	-23	-144	-135
Debt-free Net Working Capital (DFNWC)	71	72	94	93	82	129	75	161	50	124	234
Net Working Capital (NWC)	49	56	90	88	76	120	65	149	35	104	219
Net Nonoperating Expense (NNE)	6.05	3.59	7.55	4.14	4.97	4.58	6.76	53	110	107	72
Net Nonoperating Obligations (NNO)	72	36	-0.24	7.49	34	109	66	1,159	1,043	839	729
Total Depreciation and Amortization (D&A)	4.27	3.10	3.15	4.22	6.89	8.51	17	70	122	122	119
Debt-free, Cash-free Net Working Capital to Revenue	2.63%	2.05%	1.46%	2.09%	3.38%	4.29%	2.07%	1.54%	-0.57%	-3.34%	-3.00%
Debt-free Net Working Capital to Revenue	6.01%	6.05%	8.41%	7.26%	5.93%	9.21%	4.23%	5.56%	1.26%	2.87%	5.23%
Net Working Capital to Revenue	4.15%	4.73%	8.05%	6.91%	5.46%	8.60%	3.65%	5.15%	0.87%	2.41%	4.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.94	$2.21	$5.40	$3.14	$3.03	$3.19	$3.91	($0.68)	($0.73)	$1.10	$2.47
Adjusted Weighted Average Basic Shares Outstanding	10.55M	10.71M	11.02M	11.22M	11.44M	11.60M	11.71M	21.00M	31.08M	31.49M	31.56M
Adjusted Diluted Earnings per Share	$2.86	$2.16	$5.31	$3.10	$2.99	$3.14	$3.86	($0.68)	($0.73)	$1.08	$2.45
Adjusted Weighted Average Diluted Shares Outstanding	10.83M	10.97M	11.21M	11.38M	11.61M	11.75M	11.84M	21.00M	31.08M	31.97M	31.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.64M	10.89M	11.12M	11.27M	11.52M	11.63M	11.74M	30.93M	31.33M	31.57M	31.17M
Normalized Net Operating Profit after Tax (NOPAT)	37	27	29	39	38	42	52	39	87	142	150
Normalized NOPAT Margin	3.14%	2.29%	2.59%	3.07%	2.76%	2.98%	2.94%	1.35%	2.20%	3.29%	3.35%
Pre Tax Income Margin	2.83%	3.12%	3.28%	3.36%	3.12%	2.77%	3.03%	-0.21%	-0.62%	0.90%	2.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.39	74.44	72.55
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.91	71.15	59.34
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.27	68.58	71.73
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.78	65.29	58.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.52%

This table displays calculated financial ratios and metrics derived from V2X's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	31,173,445.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	31,173,445.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.61
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.52%	6.35%	7.11%	9.65%	8.00%	11.29%	0.53%	0.57%	7.90%	5.26%	23.45%
EBITDA Growth	30.53%	12.13%	-2.41%	-16.37%	56.33%	18.98%	3.04%	47.11%	7.36%	-2.33%	16.08%
EBIT Growth	323.78%	18.19%	-6.15%	-33.18%	145.54%	38.16%	11.52%	121.94%	12.89%	-4.72%	30.13%
NOPAT Growth	368.89%	99.96%	41.70%	-37.44%	160.96%	2,154.39%	-8.96%	109.66%	8.84%	-16.83%	28.49%
Net Income Growth	62.44%	95.37%	106.54%	-463.76%	335.17%	5,188.01%	608.65%	442.16%	63.48%	-9.00%	133.44%
EPS Growth	63.16%	99.19%	107.02%	-450.00%	323.81%	7,900.00%	525.00%	433.33%	63.83%	-6.41%	140.00%
Operating Cash Flow Growth	-20.70%	2,626.91%	-48.67%	-77.99%	9.85%	322.66%	-66.82%	11.13%	-37.04%	-6.12%	-36.08%
Free Cash Flow Firm Growth	104.36%	101.57%	107.21%	102.47%	-18.31%	82.08%	41.61%	294.97%	57.50%	-57.55%	-76.96%
Invested Capital Growth	-2.82%	-5.65%	-4.32%	-1.05%	-1.10%	-8.28%	-7.11%	-5.87%	-2.67%	-2.76%	-0.29%
Revenue Q/Q Growth	2.42%	3.87%	-2.86%	6.10%	0.88%	7.04%	-12.25%	6.14%	8.24%	4.41%	2.91%
EBITDA Q/Q Growth	-24.26%	37.75%	-11.44%	-9.13%	41.58%	4.84%	-23.51%	29.40%	3.47%	-4.63%	-9.09%
EBIT Q/Q Growth	-44.01%	92.84%	-21.74%	-20.93%	105.76%	8.51%	-36.83%	57.36%	4.66%	-8.42%	-13.72%
NOPAT Q/Q Growth	-52.01%	-116.24%	1,368.39%	-36.70%	100.19%	27.83%	-43.79%	45.77%	3.92%	-2.33%	-13.16%
Net Income Q/Q Growth	-455.75%	92.31%	332.52%	-672.03%	330.00%	66.32%	-67.61%	176.19%	9.89%	-7.42%	-16.92%
EPS Q/Q Growth	-450.00%	95.24%	500.00%	-625.00%	323.81%	65.96%	-67.95%	180.00%	10.00%	-5.19%	-17.81%
Operating Cash Flow Q/Q Growth	-51.10%	-7.44%	-208.40%	144.87%	144.03%	256.14%	-142.78%	129.89%	38.25%	431.03%	-162.02%
Free Cash Flow Firm Q/Q Growth	104.47%	59.00%	5.72%	-67.15%	47.93%	254.38%	-17.77%	-8.38%	-41.01%	-4.49%	-55.37%
Invested Capital Q/Q Growth	-2.28%	-2.19%	4.62%	-1.04%	-2.34%	-9.29%	5.96%	0.28%	0.99%	-9.38%	8.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	7.06%	9.42%	6.95%	6.89%	8.45%	9.28%	7.69%	8.88%	8.10%	8.62%	8.44%
EBITDA Margin	4.90%	6.50%	5.90%	5.05%	7.09%	6.95%	6.06%	7.38%	7.06%	6.45%	5.70%
Operating Margin	2.10%	3.70%	3.00%	2.56%	4.61%	4.45%	3.38%	4.91%	4.77%	4.21%	3.52%
EBIT Margin	1.90%	3.52%	2.84%	2.12%	4.32%	4.38%	3.15%	4.67%	4.52%	3.96%	3.32%
Profit (Net Income) Margin	-0.64%	-0.05%	0.11%	-0.61%	1.39%	2.16%	0.80%	2.08%	2.11%	1.87%	1.51%
Tax Burden Percent	56.95%	-6.21%	101.78%	80.65%	77.04%	95.20%	80.51%	76.03%	75.14%	79.54%	80.47%
Interest Burden Percent	-59.10%	21.62%	3.92%	-35.76%	41.85%	51.90%	31.47%	58.48%	62.13%	59.33%	56.48%
Effective Tax Rate	0.00%	106.21%	0.00%	0.00%	22.96%	4.72%	19.49%	23.97%	24.86%	20.46%	19.53%
Return on Invested Capital (ROIC)	2.72%	-0.43%	5.56%	3.49%	7.22%	9.41%	5.73%	7.91%	7.81%	8.16%	6.76%
ROIC Less NNEP Spread (ROIC-NNEP)	0.83%	-0.26%	3.11%	1.20%	5.04%	6.85%	3.85%	6.16%	6.06%	5.86%	4.93%
Return on Net Nonoperating Assets (RNNOA)	0.95%	-0.29%	3.75%	1.36%	5.43%	6.39%	3.94%	6.07%	5.75%	4.35%	4.17%
Return on Equity (ROE)	3.67%	-0.73%	9.31%	4.85%	12.65%	15.80%	9.67%	13.99%	13.56%	12.52%	10.93%
Cash Return on Invested Capital (CROIC)	6.74%	9.98%	8.41%	4.93%	4.27%	15.93%	14.31%	13.69%	10.50%	10.95%	8.31%
Operating Return on Assets (OROA)	2.35%	4.42%	3.61%	2.76%	5.81%	5.99%	4.37%	6.43%	6.33%	5.45%	4.98%
Return on Assets (ROA)	-0.79%	-0.06%	0.14%	-0.80%	1.87%	2.96%	1.11%	2.86%	2.96%	2.57%	2.26%
Return on Common Equity (ROCE)	3.67%	-0.73%	9.31%	4.85%	12.65%	15.80%	9.67%	13.99%	13.56%	12.52%	10.93%
Return on Equity Simple (ROE_SIMPLE)	-3.31%	0.00%	-0.40%	-1.24%	0.91%	0.00%	4.02%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	15	-2.39	30	19	38	49	28	40	42	41	35
NOPAT Margin	1.47%	-0.23%	3.00%	1.79%	3.55%	4.24%	2.72%	3.73%	3.58%	3.35%	2.83%
Net Nonoperating Expense Percent (NNEP)	1.88%	-0.17%	2.45%	2.29%	2.18%	2.56%	1.88%	1.76%	1.74%	2.31%	1.83%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.11%	-	-	-	2.30%	1.29%	1.85%	1.92%	1.87%	1.63%
Cost of Revenue to Revenue	92.94%	90.58%	93.05%	93.11%	91.55%	90.72%	92.31%	91.12%	91.90%	91.38%	91.56%
SG&A Expenses to Revenue	4.96%	5.71%	3.95%	4.33%	3.84%	4.82%	4.31%	3.97%	3.33%	4.40%	4.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.96%	5.71%	3.95%	4.33%	3.84%	4.82%	4.31%	3.97%	3.33%	4.40%	4.92%
Earnings before Interest and Taxes (EBIT)	19	37	29	23	47	51	32	50	53	48	42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	49	68	60	54	77	80	62	80	82	79	71
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.63	1.46	1.47	1.52	1.75	1.47	1.51	1.44	1.61	1.59	1.97
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.41	0.37	0.36	0.37	0.42	0.35	0.36	0.35	0.39	0.38	0.46
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	191.81	43.52	37.54	21.68	21.68	22.09	24.51
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.52%	2.30%	2.66%	4.61%	4.61%	4.53%	4.08%
Enterprise Value to Invested Capital (EV/IC)	1.30	1.23	1.22	1.25	1.36	1.26	1.27	1.23	1.33	1.35	1.54
Enterprise Value to Revenue (EV/Rev)	0.69	0.63	0.64	0.64	0.67	0.54	0.58	0.56	0.60	0.55	0.64
Enterprise Value to EBITDA (EV/EBITDA)	11.39	10.27	10.79	11.40	10.89	8.67	9.18	8.20	8.75	8.11	9.75
Enterprise Value to EBIT (EV/EBIT)	23.11	20.72	21.95	24.49	20.83	15.79	16.47	13.61	14.32	13.36	15.76
Enterprise Value to NOPAT (EV/NOPAT)	33.01	28.61	29.88	31.93	43.02	16.52	17.61	15.68	16.82	16.34	19.22
Enterprise Value to Operating Cash Flow (EV/OCF)	19.70	13.26	15.35	33.50	33.46	9.24	11.60	11.18	13.59	13.46	20.61
Enterprise Value to Free Cash Flow (EV/FCFF)	18.99	11.92	14.20	25.11	31.82	7.56	8.53	8.75	12.48	12.16	18.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.18	1.13	1.18	1.17	1.11	1.08	1.07	1.04	1.02	1.01	0.97
Long-Term Debt to Equity	1.17	1.11	1.16	1.15	1.09	1.06	1.05	1.02	1.01	1.00	0.96
Financial Leverage	1.13	1.11	1.21	1.13	1.08	0.93	1.02	0.99	0.95	0.74	0.85
Leverage Ratio	3.18	3.18	3.22	3.19	3.14	3.13	3.08	3.06	3.03	3.08	2.94
Compound Leverage Factor	-1.88	0.69	0.13	-1.14	1.31	1.62	0.97	1.79	1.88	1.83	1.66
Debt to Total Capital	54.16%	52.96%	54.07%	53.87%	52.63%	51.91%	51.72%	50.94%	50.56%	50.31%	49.37%
Short-Term Debt to Total Capital	0.72%	0.73%	0.71%	0.78%	0.80%	0.94%	0.93%	0.69%	0.68%	0.68%	0.69%
Long-Term Debt to Total Capital	53.44%	52.23%	53.36%	53.09%	51.83%	50.97%	50.79%	50.25%	49.88%	49.63%	48.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.84%	47.04%	45.93%	46.13%	47.37%	48.09%	48.28%	49.06%	49.44%	49.69%	50.64%
Debt to EBITDA	4.93	4.60	4.86	5.04	4.32	4.09	4.07	3.71	3.63	3.64	3.45
Net Debt to EBITDA	4.60	4.30	4.71	4.84	4.09	3.10	3.45	3.07	3.03	2.41	2.78
Long-Term Debt to EBITDA	4.86	4.54	4.80	4.96	4.26	4.01	3.99	3.66	3.58	3.59	3.40
Debt to NOPAT	14.28	12.81	13.46	14.11	17.07	7.79	7.80	7.09	6.98	7.32	6.80
Net Debt to NOPAT	13.32	11.98	13.05	13.56	16.15	5.90	6.61	5.87	5.83	4.86	5.48
Long-Term Debt to NOPAT	14.09	12.63	13.28	13.90	16.81	7.65	7.66	6.99	6.89	7.22	6.70
Altman Z-Score	1.85	1.86	1.86	1.89	2.03	1.96	2.06	2.07	2.15	2.11	2.40
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.04	1.12	1.10	1.08	1.10	1.16	1.20	1.20	1.22	1.25
Quick Ratio	0.96	0.93	0.97	0.93	0.91	0.98	1.01	1.05	1.05	1.09	1.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	75	120	126	42	61	218	179	164	97	92	41
Operating Cash Flow to CapEx	1,139.56%	623.88%	-736.50%	3,517.12%	2,866.15%	21,769.17%	-3,659.03%	1,150.06%	1,726.35%	0.00%	-5,670.45%
Free Cash Flow to Firm to Interest Expense	0.00	485.78	0.00	20.77	0.00	0.00	80.81	523.74	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	214.61	0.00	12.85	0.00	0.00	-43.12	91.16	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	180.21	0.00	12.49	0.00	0.00	-44.30	83.23	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.24	1.26	1.27	1.30	1.34	1.37	1.39	1.38	1.40	1.38	1.50
Accounts Receivable Turnover	5.55	5.53	5.21	5.40	5.68	6.10	5.79	5.70	5.74	6.18	6.15
Inventory Turnover	0.00	78.91	0.00	0.00	0.00	81.31	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	49.11	48.29	45.88	54.08	56.57	58.63	56.30	65.80	71.66	78.33	85.01
Accounts Payable Turnover	8.62	8.44	8.89	8.67	7.93	7.95	9.13	8.83	7.89	7.44	9.51
Days Sales Outstanding (DSO)	65.79	66.06	70.11	67.63	64.31	59.79	63.00	64.04	63.59	59.03	59.34
Days Inventory Outstanding (DIO)	0.00	4.63	0.00	0.00	0.00	4.49	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	42.36	43.25	41.06	42.08	46.00	45.89	39.98	41.34	46.28	49.09	38.38
Cash Conversion Cycle (CCC)	23.43	27.44	29.06	25.55	18.31	18.39	23.02	22.71	17.30	9.94	20.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,079	2,034	2,128	2,106	2,056	1,865	1,976	1,982	2,002	1,814	1,971
Invested Capital Turnover	1.85	1.89	1.85	1.95	2.03	2.22	2.11	2.12	2.18	2.44	2.39
Increase / (Decrease) in Invested Capital	-60	-122	-96	-22	-23	-168	-151	-124	-55	-52	-5.74
Enterprise Value (EV)	2,701	2,492	2,597	2,622	2,807	2,349	2,505	2,447	2,660	2,449	3,042
Market Capitalization	1,611	1,449	1,463	1,509	1,753	1,510	1,564	1,530	1,738	1,720	2,174
Book Value per Share	$31.72	$31.77	$31.72	$31.53	$31.77	$32.51	$32.81	$33.64	$34.05	$34.39	$35.40
Tangible Book Value per Share	($35.21)	($34.42)	($33.33)	($32.78)	($31.56)	($30.22)	($29.20)	($27.43)	($27.12)	($26.39)	($25.36)
Total Capital	2,158	2,106	2,163	2,150	2,116	2,134	2,146	2,172	2,184	2,183	2,179
Total Debt	1,169	1,116	1,170	1,158	1,114	1,107	1,110	1,107	1,104	1,098	1,076
Total Long-Term Debt	1,153	1,100	1,154	1,142	1,097	1,087	1,090	1,092	1,089	1,083	1,061
Net Debt	1,090	1,043	1,134	1,114	1,054	839	941	916	922	729	867
Capital Expenditures (CapEx)	5.01	8.46	7.77	0.73	2.19	1.03	2.61	2.48	2.29	-5.29	2.29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.97	-23	81	61	33	-144	-14	5.04	17	-135	42
Debt-free Net Working Capital (DFNWC)	79	50	116	105	93	124	155	195	199	234	251
Net Working Capital (NWC)	64	35	101	88	76	104	135	181	184	219	236
Net Nonoperating Expense (NNE)	21	-1.90	29	26	23	24	20	18	17	18	17
Net Nonoperating Obligations (NNO)	1,090	1,043	1,134	1,114	1,054	839	941	916	922	729	867
Total Depreciation and Amortization (D&A)	30	31	31	32	30	30	30	29	30	30	30
Debt-free, Cash-free Net Working Capital to Revenue	0.02%	-0.57%	2.00%	1.47%	0.79%	-3.34%	-0.32%	0.12%	0.38%	-3.00%	0.90%
Debt-free Net Working Capital to Revenue	2.03%	1.26%	2.88%	2.55%	2.21%	2.87%	3.59%	4.51%	4.51%	5.23%	5.32%
Net Working Capital to Revenue	1.63%	0.87%	2.50%	2.14%	1.81%	2.41%	3.13%	4.17%	4.17%	4.90%	5.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.21)	($0.01)	$0.04	($0.21)	$0.48	$0.79	$0.26	$0.71	$0.78	$0.72	$0.61
Adjusted Weighted Average Basic Shares Outstanding	31.18M	31.08M	31.35M	31.47M	31.55M	31.49M	31.59M	31.69M	31.62M	31.56M	31.21M
Adjusted Diluted Earnings per Share	($0.21)	($0.01)	$0.04	($0.21)	$0.47	$0.78	$0.25	$0.70	$0.77	$0.73	$0.60
Adjusted Weighted Average Diluted Shares Outstanding	31.18M	31.08M	31.79M	31.47M	31.97M	31.97M	32.02M	31.88M	31.86M	31.82M	31.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.19M	31.33M	31.46M	31.56M	31.56M	31.57M	31.68M	31.71M	31.54M	31.17M	31.31M
Normalized Net Operating Profit after Tax (NOPAT)	15	27	21	19	38	49	28	40	42	41	35
Normalized NOPAT Margin	1.47%	2.59%	2.10%	1.79%	3.55%	4.24%	2.72%	3.73%	3.58%	3.35%	2.83%
Pre Tax Income Margin	-1.12%	0.76%	0.11%	-0.76%	1.81%	2.27%	0.99%	2.73%	2.81%	2.35%	1.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	149.06	0.00	11.36	0.00	0.00	14.45	160.90	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-9.72	0.00	9.61	0.00	0.00	12.47	128.60	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	114.66	0.00	10.99	0.00	0.00	13.28	152.97	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-44.12	0.00	9.24	0.00	0.00	11.29	120.67	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.52%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for V2X, Inc. (NYSE: VVX) based on the latest four years of quarterly statements (income, cash flow, and balance sheet). The bullets highlight notable positives first, then neutral observations, and finally potential negatives.

Revenue growth in 2025: Q4 2025 operating revenue was about $1.219B, up roughly 5.2% year-over-year from Q4 2024 ($1.158B). This indicates a positive top-line trend into late 2025.
Solid quarterly operating cash flow in Q4 2025: Net cash from continuing operating activities reached about $209.5M, a meaningful improvement vs. earlier quarters and supportive of liquidity and flexibility.
Profitability persists in Q4 2025: Net income attributable to common shareholders was about $22.78M in Q4 2025, with ongoing quarterly profitability through 2025 (e.g., Q3 2025 and Q2 2025 also positive).
Improving liquidity in Q4 2025: The quarter showed a strong net increase in cash of about $186.7M, contributing to a higher cash balance and better short-term liquidity position.
Investing activities modestly add to cash flow in Q4 2025: Net cash from continuing investing activities was about $5.29M, aided by a PPE sale of $7.56M and offset by PPE purchases of $2.26M, supporting overall liquidity.
Margins remain in the mid-single digits in 2025: Gross margin hovered around 8–9% (example: Q4 2025 gross profit of $105.041M on $1.219B revenue, ~8.6%). This level has been relatively stable in 2025 versus 2024, though below peak levels seen in earlier years.
Debt level appears stable: Long-term debt sits around $1.09B across mid-2023 to 2025, with total liabilities near $2.10B and total equity near $1.08B, suggesting a relatively steady leverage profile.
Balance-sheet composition indicates large goodwill/intangibles: Goodwill around $1.68B in 2025 (Q3 2025) and intangible assets in the low-to-mid hundreds of millions, which could imply impairment risk if earnings power weakens.
Net income margin remains modest in 2025: Net income as a percentage of revenue stayed single-digits to low single-digits (roughly 1–2% in recent quarters), indicating limited bottom-line leverage despite revenue growth.
Cash flow from operations occasionally negative earlier in 2025: For example, Q1 2025 showed negative net cash from continuing operating activities (-$95.5M), highlighting quarterly cash-flow volatility that could be a risk if not managed.

05/12/26 01:08 PM ETAI Generated. May Contain Errors.

V2X Financials - Frequently Asked Questions

According to the most recent income statement we have on file, V2X's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Over the last 10 years, V2X's net income changed from $30.97 million in 2015 to $77.88 million in 2025, a change of 151.5%. Find out what analysts predict for V2X in the coming months.

V2X's total operating income in 2025 was $194.27 million, based on the following breakdown:

Total Gross Profit: $373.38 million
Total Operating Expenses: $179.11 million

Over the last 10 years, V2X's total revenue changed from $1.18 billion in 2015 to $4.48 billion in 2025, a change of 279.4%.

V2X's total liabilities were at $2.20 billion at the end of 2025, a 0.3% decrease from 2024, and a 455.9% increase since 2015.

In the past 10 years, V2X's cash and equivalents has ranged from $35.32 million in 2019 to $368.99 million in 2025, and is currently $368.99 million as of their latest financial filing in 2025.

Over the last 10 years, V2X's book value per share changed from 8.43 in 2015 to 34.39 in 2025, a change of 308.2%.

Related Companies

Financial statements for NYSE:VVX last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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V2X (VVX) Financials

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V2X (VVX) Financials

Annual Income Statements for V2X

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Annual Cash Flow Statements for V2X

Quarterly Cash Flow Statements for V2X

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When does V2X's financial year end?

How has V2X's net income changed over the last 10 years?

What is V2X's operating income?

How has V2X's revenue changed over the last 10 years?

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How much cash does V2X have?

How has V2X's book value per share changed over the last 10 years?

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