V2X Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
V2X has an operating margin of 3.7%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 18/100, suggesting thin profitability after operating expenses. This is up from 3.1% the prior year.
V2X's revenue grew 9.1% year-over-year to $4.3B, a solid pace of expansion. This earns a growth score of 54/100.
V2X carries a low D/E ratio of 1.06, meaning only $1.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.
V2X's current ratio of 1.11 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.
V2X's free cash flow margin of 5.6% results in a low score of 28/100. Capital expenditures of $11.8M absorb a large share of operating cash flow.
V2X generates a 3.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 14/100.
V2X scores 2.21, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
V2X passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, V2X generates $7.33 in operating cash flow ($254.2M OCF vs $34.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows V2X (VVX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
V2X generated $4.3B in revenue in fiscal year 2024. This represents an increase of 9.1% from the prior year.
V2X's EBITDA was $270.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.1% from the prior year.
V2X generated $242.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 48.8% from the prior year.
V2X reported $34.7M in net income in fiscal year 2024. This represents an increase of 253.7% from the prior year.
V2X earned $1.08 per diluted share (EPS) in fiscal year 2024. This represents an increase of 247.9% from the prior year.
V2X held $268.3M in cash against $1.1B in long-term debt as of fiscal year 2024.
V2X had 32M shares outstanding in fiscal year 2024. This represents an increase of 1.2% from the prior year.
V2X's gross margin was 7.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
V2X's operating margin was 3.7% in fiscal year 2024, reflecting core business profitability. This is up 0.5 percentage points from the prior year.
V2X's net profit margin was 0.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.
V2X's ROE was 3.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
V2X invested $11.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 52.9% from the prior year.
VVX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+8.2% | $1.1B+6.1% | $1.0B-12.3% | $1.2B+8.0% | $1.1B+6.1% | $1.0B-2.9% | $1.0B+3.9% | $1.0B |
| Cost of Revenue | $1.1B+9.2% | $982.6M+4.8% | $937.8M-10.7% | $1.1B+5.2% | $998.3M+6.2% | $940.3M-0.2% | $942.4M+1.2% | $930.8M |
| Gross Profit | $94.5M-1.3% | $95.7M+22.6% | $78.1M-27.3% | $107.4M+45.5% | $73.8M+5.1% | $70.3M-28.3% | $97.9M+38.6% | $70.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $38.8M-9.2% | $42.8M-2.3% | $43.8M-21.6% | $55.9M+20.4% | $46.4M+16.2% | $39.9M-32.8% | $59.4M+19.7% | $49.6M |
| Operating Income | $55.7M+5.2% | $52.9M+54.4% | $34.3M-33.5% | $51.6M+88.0% | $27.4M-9.6% | $30.3M-21.3% | $38.5M+83.1% | $21.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $8.1M+15.3% | $7.1M+259.6% | $2.0M+55.7% | $1.3M+180.3% | -$1.6M-7750.0% | -$20K-100.2% | $8.4M+274.1% | -$4.8M |
| Net Income | $24.6M+9.9% | $22.4M+176.2% | $8.1M-67.6% | $25.0M+482.5% | -$6.5M-672.0% | $1.1M+332.5% | -$492K+92.3% | -$6.4M |
| EPS (Diluted) | $0.77+10.0% | $0.70+180.0% | $0.25-67.9% | $0.78+471.4% | $-0.21-625.0% | $0.04+500.0% | $-0.01+95.2% | $-0.21 |
VVX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.2B+1.0% | $3.1B+1.4% | $3.1B-3.9% | $3.2B+2.5% | $3.2B+0.4% | $3.1B+1.9% | $3.1B-1.4% | $3.1B |
| Current Assets | $1.1B+3.0% | $1.1B+6.4% | $1.0B-9.1% | $1.1B+12.9% | $976.6M+2.4% | $953.6M+9.0% | $874.9M-2.1% | $894.1M |
| Cash & Equivalents | $182.3M-4.3% | $190.5M+12.7% | $169.1M-37.0% | $268.3M+499.3% | $44.8M+25.6% | $35.7M-50.9% | $72.7M-7.2% | $78.3M |
| Inventory | $48.0M-4.4% | $50.2M+0.7% | $49.9M-2.0% | $50.9M+9.3% | $46.6M | N/A | $47.0M | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $1.7B+1.2% | $1.7B0.0% | $1.7B0.0% | $1.7B+0.1% | $1.7B+0.5% | $1.6B-0.5% | $1.7B0.0% | $1.7B |
| Total Liabilities | $2.1B+0.9% | $2.1B+0.6% | $2.1B-6.1% | $2.2B+2.0% | $2.2B+0.6% | $2.1B+2.6% | $2.1B-2.2% | $2.1B |
| Current Liabilities | $914.3M+3.1% | $886.5M+2.2% | $867.1M-13.0% | $996.2M+12.2% | $888.2M+4.2% | $852.7M+1.5% | $840.2M+1.2% | $830.4M |
| Long-Term Debt | $1.1B-0.2% | $1.1B+0.2% | $1.1B+0.2% | $1.1B-4.7% | $1.1B-1.1% | $1.2B+4.9% | $1.1B-4.6% | $1.2B |
| Total Equity | $1.1B+1.3% | $1.1B+2.9% | $1.0B+0.9% | $1.0B+3.4% | $992.0M-0.2% | $993.7M+0.3% | $990.8M+0.2% | $989.1M |
| Retained Earnings | $320.6M+8.3% | $296.0M+8.2% | $273.6M+3.1% | $265.5M+17.8% | $225.5M-2.8% | $232.0M+0.5% | $230.9M-0.2% | $231.3M |
VVX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $39.4M+38.3% | $28.5M+129.9% | -$95.5M-142.8% | $223.1M+769.1% | $25.7M+144.9% | -$57.2M-208.4% | $52.8M-7.4% | $57.0M |
| Capital Expenditures | $4.5M+80.6% | $2.5M-8.1% | $2.7M+148.3% | $1.1M+47.7% | $736K-90.5% | $7.8M-8.1% | $8.5M+68.7% | $5.0M |
| Free Cash Flow | $35.0M+34.2% | $26.1M+126.5% | -$98.2M-144.2% | $222.0M+790.4% | $24.9M+138.4% | -$65.0M-246.6% | $44.3M-14.8% | $52.0M |
| Investing Cash Flow | -$29.8M-1100.5% | -$2.5M+4.9% | -$2.6M-154.5% | -$1.0M-40.4% | -$730K+97.0% | -$24.7M-256.0% | -$6.9M-66.4% | -$4.2M |
| Financing Cash Flow | -$13.3M-94.5% | -$6.8M-79.5% | -$3.8M+51.0% | -$7.8M+48.0% | -$14.9M-132.1% | $46.5M+184.0% | -$55.3M-31.2% | -$42.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VVX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.1%-0.8pp | 8.9%+1.2pp | 7.7%-1.6pp | 9.3%+2.4pp | 6.9%-0.1pp | 7.0%-2.5pp | 9.4%+2.4pp | 7.1% |
| Operating Margin | 4.8%-0.1pp | 4.9%+1.5pp | 3.4%-1.1pp | 4.5%+1.9pp | 2.6%-0.4pp | 3.0%-0.7pp | 3.7%+1.6pp | 2.1% |
| Net Margin | 2.1%+0.0pp | 2.1%+1.3pp | 0.8%-1.4pp | 2.2%+2.8pp | -0.6%-0.7pp | 0.1%+0.2pp | -0.1%+0.6pp | -0.6% |
| Return on Equity | 2.3%+0.2pp | 2.1%+1.3pp | 0.8%-1.7pp | 2.4% | N/A | 0.1% | N/A | N/A |
| Return on Assets | 0.8%+0.1pp | 0.7%+0.5pp | 0.3%-0.5pp | 0.8%+1.0pp | -0.2%-0.3pp | 0.0%+0.1pp | -0.0%+0.2pp | -0.2% |
| Current Ratio | 1.200.0 | 1.20+0.0 | 1.16+0.0 | 1.110.0 | 1.10-0.0 | 1.12+0.1 | 1.04-0.0 | 1.08 |
| Debt-to-Equity | 1.01-0.0 | 1.02-0.0 | 1.050.0 | 1.06-0.1 | 1.15-0.0 | 1.16+0.1 | 1.11-0.1 | 1.17 |
| FCF Margin | 3.0%+0.6pp | 2.4%+12.1pp | -9.7%-28.8pp | 19.2%+16.8pp | 2.3%+8.8pp | -6.4%-10.7pp | 4.3%-0.9pp | 5.2% |
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Frequently Asked Questions
What is V2X's annual revenue?
V2X (VVX) reported $4.3B in total revenue for fiscal year 2024. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is V2X's revenue growing?
V2X (VVX) revenue grew by 9.1% year-over-year, from $4.0B to $4.3B in fiscal year 2024.
Is V2X profitable?
Yes, V2X (VVX) reported a net income of $34.7M in fiscal year 2024, with a net profit margin of 0.8%.
What is V2X's earnings per share (EPS)?
V2X (VVX) reported diluted earnings per share of $1.08 for fiscal year 2024. This represents a 247.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is V2X's EBITDA?
V2X (VVX) had EBITDA of $270.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does V2X have?
As of fiscal year 2024, V2X (VVX) had $268.3M in cash and equivalents against $1.1B in long-term debt.
What is V2X's gross margin?
V2X (VVX) had a gross margin of 7.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is V2X's operating margin?
V2X (VVX) had an operating margin of 3.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is V2X's net profit margin?
V2X (VVX) had a net profit margin of 0.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is V2X's return on equity (ROE)?
V2X (VVX) has a return on equity of 3.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is V2X's free cash flow?
V2X (VVX) generated $242.4M in free cash flow during fiscal year 2024. This represents a 48.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is V2X's operating cash flow?
V2X (VVX) generated $254.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are V2X's total assets?
V2X (VVX) had $3.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are V2X's capital expenditures?
V2X (VVX) invested $11.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does V2X have outstanding?
V2X (VVX) had 32M shares outstanding as of fiscal year 2024.
What is V2X's current ratio?
V2X (VVX) had a current ratio of 1.11 as of fiscal year 2024, which is considered adequate.
What is V2X's debt-to-equity ratio?
V2X (VVX) had a debt-to-equity ratio of 1.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is V2X's return on assets (ROA)?
V2X (VVX) had a return on assets of 1.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is V2X's Altman Z-Score?
V2X (VVX) has an Altman Z-Score of 2.21, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is V2X's Piotroski F-Score?
V2X (VVX) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are V2X's earnings high quality?
V2X (VVX) has an earnings quality ratio of 7.33x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is V2X?
V2X (VVX) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.