VVX · V2x, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25B | - | $1.17B | $1.08B | $1.02B | - | $1.08B | $1.07B | $1.01B | - |
| Cost of Revenue | $1.15B | - | $1.07B | $982.60M | $937.82M | - | $990.22M | $998.35M | $940.29M | - |
| Gross Profit | $105.82M | - | $94.50M | $95.73M | $78.10M | - | $91.44M | $73.83M | $70.27M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $61.73M | - | $38.84M | $42.79M | $43.80M | - | $41.55M | $46.41M | $39.94M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $3.96M | - | - | - | $4.25M | - | - | - | $6.24M | - |
| Operating Income | $44.09M | - | $55.67M | $52.94M | $34.30M | - | $49.89M | $27.43M | $30.33M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $4.59M | - | $8.14M | $7.06M | $1.96M | - | $4.49M | ($1.57M) | ($20.0K) | - |
| Net Income | $18.93M | - | $24.61M | $22.39M | $8.11M | - | $15.05M | ($6.54M) | $1.14M | - |
| EPS - Basic | $0.61 | - | $0.78 | $0.71 | $0.26 | - | $0.48 | ($0.21) | $0.04 | - |
| EPS - Diluted | $0.60 | - | $0.77 | $0.70 | $0.25 | - | $0.47 | ($0.21) | $0.04 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $208.67M | $368.99M | $182.32M | $190.46M | $169.06M | $268.32M | $59.86M | $44.77M | $35.66M | $72.65M |
| Accounts Receivable | $828.76M | $738.92M | $773.29M | $738.90M | $705.38M | $710.07M | $766.40M | $781.90M | $788.49M | $706.00M |
| Inventory | $48.70M | $45.85M | $48.00M | $50.21M | $49.89M | $50.89M | $49.71M | $46.58M | - | $46.98M |
| Accounts Payable | $467.42M | $557.04M | $487.18M | $434.72M | $440.60M | $547.57M | $538.23M | $462.50M | $430.60M | $453.05M |
| Current Assets | $1.17B | $1.24B | $1.10B | $1.07B | $1.00B | $1.10B | $982.30M | $976.59M | $953.58M | $874.87M |
| Total Assets | $3.19B | $3.28B | $3.18B | $3.15B | $3.10B | $3.23B | $3.13B | $3.15B | $3.14B | $3.08B |
| Current Liabilities | $933.30M | $1.02B | $914.26M | $886.54M | $867.09M | $996.22M | $906.05M | $888.18M | $852.74M | $840.20M |
| Long-term Debt | $1.06B | $1.08B | $1.09B | $1.09B | $1.09B | $1.09B | $1.10B | $1.14B | $1.15B | $1.10B |
| Total Liabilities | $2.09B | $2.20B | $2.10B | $2.08B | $2.07B | $2.20B | $2.12B | $2.16B | $2.15B | $2.09B |
| Stockholders' Equity | $1.10B | $1.08B | $1.08B | $1.07B | $1.04B | $1.03B | $1.00B | $991.95M | $993.74M | $990.80M |
| Retained Earnings | $362.34M | $343.42M | $320.64M | $296.03M | $273.64M | $265.54M | $240.50M | $225.45M | $232.00M | $230.85M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($129.91M) | - | - | - | ($95.46M) | - | - | - | ($57.23M) | - |
| Investing Cash Flow | ($2.29M) | - | - | - | ($2.61M) | - | - | - | ($24.71M) | - |
| Financing Cash Flow | ($28.43M) | - | - | - | ($3.80M) | - | - | - | $46.46M | - |
| CapEx | $2.29M | - | - | - | $2.70M | - | - | - | $7.78M | - |
| Free Cash Flow | ($132.20M) | - | - | - | ($98.16M) | - | - | - | ($65.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 8.4% | - | 8.1% | 8.9% | 7.7% | - | 8.5% | 6.9% | 7.0% | - |
| Operating margin | 3.5% | - | 4.8% | 4.9% | 3.4% | - | 4.6% | 2.6% | 3.0% | - |
| EBITDA margin | 3.8% | - | - | - | 3.8% | - | - | - | 3.6% | - |
| Net margin | 1.5% | - | 2.1% | 2.1% | 0.8% | - | 1.4% | -0.6% | 0.1% | - |
| Free cash flow margin | -10.5% | - | - | - | -9.7% | - | - | - | -6.4% | - |
| FCF / Net income | -6.99 | - | - | - | -12.11 | - | - | - | -56.82 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 4.9% | - | 3.3% | 4.0% | 4.3% | - | 3.8% | 4.3% | 4.0% | - |
| Effective tax rate | 19.5% | - | 24.9% | 24.0% | 19.5% | - | 23.0% | - | -1.8% | - |
| Return on assets | 0.6% | - | 0.8% | 0.7% | 0.3% | - | 0.5% | -0.2% | 0.0% | - |
| Return on equity | 1.7% | - | 2.3% | 2.1% | 0.8% | - | 1.5% | -0.7% | 0.1% | - |
| Return on invested capital | 1.6% | - | 1.9% | 1.9% | 1.3% | - | 1.8% | 1.0% | 1.4% | - |
| Liquidity | ||||||||||
| Current ratio | 1.25 | 1.22 | 1.20 | 1.20 | 1.16 | 1.10 | 1.08 | 1.10 | 1.12 | 1.04 |
| Quick ratio | 1.20 | 1.17 | 1.15 | 1.15 | 1.10 | 1.05 | 1.03 | 1.05 | 1.12 | 0.99 |
| Cash ratio | 0.22 | 0.36 | 0.20 | 0.21 | 0.19 | 0.27 | 0.07 | 0.05 | 0.04 | 0.09 |
| Leverage | ||||||||||
| Debt / Equity | 0.96 | 1.00 | 1.01 | 1.02 | 1.05 | 1.06 | 1.09 | 1.15 | 1.16 | 1.11 |
| Debt / Assets | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.34 | 0.35 | 0.36 | 0.37 | 0.36 |
| Debt / EBITDA | 22.08 | - | - | - | 28.27 | - | - | - | 31.56 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.89 | 3.02 | 2.94 | 2.95 | 3.00 | 3.15 | 3.12 | 3.18 | 3.16 | 3.11 |
| Liabilities / Assets | 0.65 | 0.67 | 0.66 | 0.66 | 0.67 | 0.68 | 0.68 | 0.69 | 0.68 | 0.68 |
| Efficiency | ||||||||||
| Asset turnover | 0.39 | - | 0.37 | 0.34 | 0.33 | - | 0.35 | 0.34 | 0.32 | - |
| Inventory turnover | 23.58 | - | 22.35 | 19.57 | 18.80 | - | 19.92 | 21.43 | - | - |
| Days sales outstanding | 241d | - | 242d | 250d | 253d | - | 259d | 266d | 285d | - |
| Days inventory outstanding | 15d | - | 16d | 19d | 19d | - | 18d | 17d | - | - |
| Days payable outstanding | 149d | - | 166d | 161d | 171d | - | 198d | 169d | 167d | - |
| Cash conversion cycle | 108d | - | 92d | 107d | 101d | - | 79d | 114d | - | - |
| Valuation | ||||||||||
| P / E | 116.3x | - | 71.2x | 69.0x | 198.2x | - | 118.2x | - | - | - |
| P / B | 2.0x | - | 1.6x | 1.4x | 1.5x | - | 1.8x | - | - | - |
| P / S | 1.8x | - | 1.5x | 1.4x | 1.6x | - | 1.6x | - | - | - |
| EV / EBITDA | 63.5x | - | - | - | 65.0x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 23.4% | - | 7.9% | 0.6% | 0.5% | - | 8.0% | 9.6% | 7.1% | - |
| Revenue CAGR (3y) | 10.0% | - | 6.8% | 29.4% | 30.6% | - | 33.0% | 31.6% | 32.5% | - |
| Revenue CAGR (5y) | 23.6% | - | 27.1% | 26.3% | 23.6% | - | 24.6% | 26.5% | 25.4% | - |
| Gross profit growth (YoY) | 35.5% | - | 3.4% | 29.7% | 11.1% | - | 29.4% | -15.5% | -10.9% | - |
| Operating income growth (YoY) | 28.5% | - | 11.6% | 93.0% | 13.1% | - | 137.1% | -20.0% | -0.8% | - |
| Net income growth (YoY) | 133.4% | - | 63.5% | - | 608.7% | - | - | - | - | - |
| EPS growth (YoY) | 140.0% | - | 63.8% | - | 525.0% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | -7.3% | 1.4% | - | -18.6% | - | -66.0% | - |
| EPS CAGR (5y) | -10.1% | - | -2.6% | 50.7% | -19.5% | - | -10.1% | - | -42.2% | - |
| FCF growth (YoY) | -34.7% | - | - | - | -51.0% | - | - | - | -36.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 6.5% | 5.7% | 7.7% | 7.4% | 4.2% | 3.6% | 1.4% | -0.1% | 1.6% | -0.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$4.48B totalUS$2.61B · 58.2%
Middle East$1.35B · 30.2%
Asia$313.02M · 7.0%
Europe$206.44M · 4.6%
Peer comparison
Same SIC group: Services-Facilities Support Management Services
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| VCIG | - | - | - |
Comparing V2X against the 1 most active filer in the same SIC group.