MARKETS / NYSE / VVX

NYSE · SERVICES-FACILITIES SUPPORT MANAGEMENT SERVICES · LARGE CAP

V2x, Inc. VVX

14 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$4.5B

▲ 3.7% YoY

Net income

$77.9M

▲ 124.5% YoY

Free cash flow

$170.1M

▼ 29.9% YoY

In brief

What this company does

V2X, Inc. provides critical mission solutions primarily to defense customers, operating in 349 locations across 49 countries and territories worldwide. As of December 31, 2025, the Company had approximately 16,200 employees and 7,300 subcontract personnel. V2X was the prime contractor on contracts representing 95%, 94% and 94% of its revenue for the years ended December 31, 2025, 2024 and 2023, respectively. The Company operates as one segment, offering capabilities in 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. Under its platform renewal and modernization offering, V2X's operations span over 900,000 square feet of engineering, lab, manufacturing and repair space. Under that same offering, V2X supports approximately 1,690 aircraft, delivering maintenance from flight line to depot.

Written from the business description in V2X, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.5B

Revenue, FY2025 · full 14-year series below

Revenue $B Net income $B

FY2025 · Revenue 4.5 · Net income 0.1

Compound annual growth

Revenue

+15.7%

+26.3%

Net income

+16.1%

+9.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +26.3% a year over five years — but profit grew slower: net income at +16.1%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

2 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 4.3% · Net 1.7%

ROE

FY2025 · ROE 7.4%

Gross margin8.3%

Operating margin4.3%

Net margin1.7%

Return on assets2.4%

EBITDAUSD 211.3M

Each USD of equity produced 7 cents of profit this year.

Cash & shareholders

USD 29.4M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 170.1

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 29.4

Dividends paid—

Net buybacksUSD 29.4M

Share of profit37.8%

Consecutive raises—

USD 29.4M in buybacks — 38% of the year's profit went back to shareholders.

Total assetsUSD 3.3B

EquityUSD 1.1B

CashUSD 369.0M

Gross debtUSD 1.1B

Net debtUSD 729.2M

Current ratio1.22×

Net debt stands at 67% of equity.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue $B	4.5	4.3	4.0	2.9	1.8	1.4	1.4	1.3	1.1	1.2	·	·	·	·
Operating income $B	0.2	0.2	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
EBITDA $B	0.2	0.2	0.1	0.1	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Income tax $B	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	0.1	0.0	−0.0	−0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.1
Free cash flow $B	0.2	0.2	0.2	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
EPS, diluted $	2.45	1.08	−0.73	−0.68	3.86	3.14	2.86	3.08	5.31	2.16	2.86	2.13	8.06	7.13
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	7.4	3.4	−2.3	−2.1	14.0	13.1	13.8	17.4	39.7	22.9	43.3	18.6	43.0	37.1
Shares out B	0.03	0.03	0.03	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 31 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityServices-Facilities Support Management Services

Listed onNYSE

Incorporated inIndiana

Fiscal year endsDecember 31

Data on record since2012