Vesta Real Estate Corporation, S.a.b. De C.v. key statistics and ratios

In fiscal 2025, Vesta Real Estate Corporation, S.a.b. De C.v. had return on equity of 9.1%, a net margin of 85.4%, debt equal to 48.1% of equity and a current ratio of 4.84. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Vesta Real Estate Corporation, S.a.b. De C.v.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net margin	108.2%	136.8%	147.6%	88.5%	85.4%
Free-cash-flow margin	67.0%	36.5%	66.5%	51.2%	72.9%
Return on equity	12.0%	15.8%	15.3%	8.8%	9.1%
Return on assets	6.3%	8.5%	9.4%	5.8%	5.7%
Asset turnover	0.06	0.06	0.06	0.07	0.07
Current ratio	7.17	3.37	3.84	2.68	4.84
Debt to equity	64.9%	57.4%	37.1%	32.9%	48.1%
Effective tax rate	32.1%	16.5%	17.0%	47.6%	−3.4%
Capital spending as % of revenue	0.1%	0.1%	1.0%	0.2%	0.3%
Free cash flow ÷ net income	61.9%	26.7%	45.1%	57.8%	85.3%
Dividends ÷ net income	31.8%	23.4%	18.8%	28.5%	28.2%
Dividends and buybacks ÷ free cash flow	51.4%	111.7%	41.7%	83.5%	50.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 5 checks passed · December 31, 2025

What it owns · $4.5bn

Short-term assets $397mLonger-term assets $4.1bn

What it owes, and who funded it · $4.5bn

Short-term liabilities $82mLonger-term liabilities $1.7bnShareholders' equity $2.7bn

Short-term assets cover short-term liabilities $397m of assets due within a year against $82m of liabilities due within a year.
Short-term assets cover long-term liabilities $397m short-term assets against $1.7bn of longer-dated liabilities.
More cash than debt $337m of cash against $1.3bn of debt.
Debt below 40% of shareholders' equity Debt is 48% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $207m of operating cash flow against $1.3bn of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Vesta Real Estate Corporation, S.a.b. De C.v.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Vesta Real Estate Corporation, S.a.b. De C.v.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Vesta Real Estate Corporation, S.a.b. De C.v.