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V2x, Inc. key statistics and ratios

In fiscal 2025, V2x, Inc. had return on equity of 7.4%, an operating margin of 4.3%, debt equal to 101.2% of equity and a current ratio of 1.22. 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.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMOct 2026
Gross margin9.0%9.1%8.9%9.3%8.9%9.0%10.2%8.4%7.9%8.3%8.5%
Operating margin3.6%3.7%3.8%3.6%3.1%3.5%1.9%3.1%3.7%4.3%4.2%
Net margin2.0%5.3%2.7%2.4%2.6%2.6%−0.5%−0.6%0.8%1.7%2.0%
Free-cash-flow margin3.0%3.0%2.3%0.8%4.3%2.9%2.8%4.1%5.6%3.8%3.2%
Return on equity20.1%39.7%17.4%13.8%13.1%14.0%−2.1%−2.3%3.4%7.4%8.8%
Return on assets5.1%12.4%6.6%5.5%5.0%5.3%−0.7%−0.7%1.1%2.4%3.1%
Asset turnover2.562.322.402.291.892.061.401.261.371.381.54
Current ratio1.301.491.391.311.421.181.191.041.111.221.36
Debt to equity71.2%42.3%33.4%26.9%58.7%30.1%127.8%112.6%107.9%101.2%89.8%
Effective tax rate36.4%—18.4%23.2%4.5%15.4%——10.7%22.8%21.8%
SG&A as % of revenue5.4%5.4%5.2%5.7%5.8%5.5%8.3%5.3%4.3%4.0%4.3%
Capital spending as % of revenue0.1%0.2%0.8%1.2%0.3%0.5%0.4%0.6%0.3%0.3%0.2%
Free cash flow ÷ net income151.7%55.6%85.6%34.4%161.2%112.8%——699.0%218.4%160.7%
Dividends and buybacks ÷ free cash flow———————0.0%0.0%17.6%—

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

2 of 6 checks passed · October 2, 2026
What it owns · $3.2bn
Short-term assets $1.2bnLonger-term assets $2.0bn
What it owes, and who funded it · $3.2bn
Short-term liabilities $918mLonger-term liabilities $1.1bnShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $918m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.2bn short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $265m of cash against $1.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 90% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 31% to 90% over five years.
  • A year's operating cash flow covers at least 20% of debt $168m of operating cash flow against $1.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From V2x, Inc.'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

41 /100

Weak moat

How hard V2x's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Cash operating profit has been a median 5.7% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 8.9%, moving by 0.5 percentage points (standard deviation) across 9 years.

  • Durability 6 / 20

    Operating margin has been a median 3.5%; its worst year was 1.5%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 9 years, at a median 3.1% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 168.6% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

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

Compare with peers

Head to head: ATI vs VVXHEI vs VVXMOG.A vs VVX

More: Aerospace & Defense stocks compared, Industrials sector, rankings of US companies

Figures from V2x, Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to V2x, Inc.