Latest Ratios: P/E Ratio 31.4x · EV/EBITDA 10.5x · ROE 7.4%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $1.7B | $1.5B | $1.4B | $867M | $542M | $584M | $595M | $246M | $346M | $262M |
| Enterprise Value | $3.2B | $2.5B | $2.4B | $2.5B | $2.1B | $654M | $715M | $645M | $253M | $346M | $298M |
| P/E Ratio → | 31.39 | 22.27 | 44.29 | — | — | 11.86 | 15.83 | 17.92 | 6.96 | 5.81 | 11.04 |
| P/S Ratio | 0.54 | 0.39 | 0.35 | 0.36 | 0.30 | 0.30 | 0.42 | 0.43 | 0.19 | 0.31 | 0.22 |
| P/B Ratio | 2.26 | 1.60 | 1.49 | 1.46 | 0.87 | 1.55 | 1.92 | 2.30 | 1.11 | 1.89 | 2.23 |
| P/FCF | 14.16 | 10.21 | 6.31 | 8.86 | 10.69 | 10.51 | 9.81 | 52.19 | 8.18 | 10.46 | 7.30 |
| P/OCF | 13.23 | 9.54 | 6.01 | 7.68 | 9.27 | 8.83 | 9.12 | 21.60 | 6.13 | 9.77 | 7.15 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.57 | 0.56 | 0.64 | 0.72 | 0.37 | 0.51 | 0.47 | 0.20 | 0.31 | 0.25 |
| EV / EBITDA | 10.46 | 8.27 | 8.80 | 10.66 | 17.60 | 8.33 | 13.85 | 11.49 | 4.85 | 8.05 | 6.65 |
| EV / EBIT | 16.52 | 13.65 | 16.31 | 25.63 | 37.37 | 10.55 | 16.44 | 12.99 | 5.26 | 8.38 | 6.94 |
| EV / FCF | — | 14.91 | 9.95 | 15.56 | 25.71 | 12.69 | 12.00 | 56.55 | 8.43 | 10.45 | 8.30 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.3% | 8.3% | 7.9% | 8.4% | 10.2% | 9.0% | 8.9% | 9.3% | 9.0% | 9.1% | 9.0% |
| Operating Margin | 4.3% | 4.3% | 3.7% | 3.1% | 1.9% | 3.5% | 3.1% | 3.6% | 3.8% | 3.7% | 3.6% |
| Net Profit Margin | 1.7% | 1.7% | 0.8% | -0.6% | -0.5% | 2.6% | 2.6% | 2.4% | 2.8% | 5.3% | 2.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | 7.4% | 3.4% | -2.3% | -2.1% | 14.0% | 13.1% | 13.8% | 17.4% | 39.6% | 22.9% |
| ROA | 2.4% | 2.4% | 1.1% | -0.7% | -0.7% | 5.3% | 5.0% | 5.5% | 6.6% | 12.4% | 5.0% |
| ROIC | 7.7% | 7.7% | 6.0% | 4.3% | 3.1% | 10.4% | 8.8% | 13.9% | 17.6% | 18.4% | 20.4% |
| ROCE | 8.4% | 8.4% | 7.1% | 5.3% | 3.7% | 11.4% | 9.2% | 13.4% | 14.6% | 14.0% | 15.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.08 | 1.08 | 1.12 | 1.17 | 1.34 | 0.43 | 0.65 | 0.33 | 0.33 | 0.42 | 0.71 |
| Debt / EBITDA | 3.81 | 3.81 | 4.20 | 4.90 | 11.26 | 1.92 | 3.83 | 1.52 | 1.41 | 1.80 | 1.87 |
| Net Debt / Equity | — | 0.74 | 0.86 | 1.10 | 1.22 | 0.32 | 0.43 | 0.19 | 0.03 | -0.00 | 0.31 |
| Net Debt / EBITDA | 2.61 | 2.61 | 3.23 | 4.59 | 10.28 | 1.43 | 2.53 | 0.89 | 0.14 | -0.01 | 0.80 |
| Debt / FCF | — | 4.71 | 3.65 | 6.70 | 15.01 | 2.18 | 2.19 | 4.36 | 0.25 | -0.01 | 1.00 |
| Interest Coverage | 2.19 | 2.19 | 1.36 | 0.80 | 0.90 | 7.77 | 10.83 | 7.67 | 9.34 | 8.79 | 7.55 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.22 | 1.22 | 1.10 | 1.04 | 1.19 | 1.18 | 1.42 | 1.31 | 1.39 | 1.49 | 1.30 |
| Quick Ratio | 1.17 | 1.17 | 1.05 | 0.99 | 1.13 | 1.18 | 1.42 | 1.31 | 1.39 | 1.42 | 1.24 |
| Cash Ratio | 0.36 | 0.36 | 0.27 | 0.09 | 0.15 | 0.11 | 0.23 | 0.14 | 0.29 | 0.43 | 0.25 |
| Asset Turnover | — | 1.32 | 1.34 | 1.29 | 0.89 | 2.01 | 1.65 | 2.17 | 2.24 | 2.25 | 2.56 |
| Inventory Turnover | 89.56 | 89.56 | 78.19 | 77.23 | 57.72 | — | — | — | — | 79.43 | 98.49 |
| Days Sales Outstanding | — | 60.20 | 59.96 | 65.02 | 91.99 | 71.34 | 82.38 | 71.06 | 66.23 | 61.47 | 56.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 4.5% | 2.3% | — | — | 8.4% | 6.3% | 5.6% | 14.4% | 17.2% | 9.1% |
| FCF Yield | 7.1% | 9.8% | 15.9% | 11.3% | 9.4% | 9.5% | 10.2% | 1.9% | 12.2% | 9.6% | 13.7% |
| Buyback Yield | 1.2% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.4% | 0.4% |
| Total Shareholder Yield | 1.2% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.4% | 0.4% |
| Shares Outstanding | — | $32M | $32M | $31M | $21M | $12M | $12M | $12M | $11M | $11M | $11M |
Fixed-price contract margin erosion
Based on recent market data, VVX trades at a forward P/E of 11.90, which appears to discount the company's integration risks and lower margin profile relative to peers like CACI, suggesting investors remain cautious about the sustainability of post-merger earnings growth in the current defense budget environment.
The valuation gap between VVX and its higher-margin peers suggests the market is applying a discount for the company's reliance on lower-margin logistics and base operations. While the forward P/E of 11.90 may appear attractive, it warrants further investigation into whether this reflects a genuine value opportunity or a structural lack of confidence in the firm's ability to pivot toward higher-value technical services.
As reported in financial statements, VVX's ROIC has remained consistently low, hovering between 1.0% and 2.4% over the last ten quarters, which indicates that the company is struggling to generate meaningful returns on its invested capital following the significant goodwill accumulation from recent acquisitions.
The persistent low ROIC suggests that the capital deployed for the Vertex merger has yet to yield the expected operational synergies required to drive shareholder value. Investors should monitor whether management can improve asset utilization, as the current returns appear insufficient to cover the company's cost of capital over the long term.
According to quarterly filings, VVX's asset turnover has remained stagnant near 0.35, revealing that the company's ability to generate revenue from its asset base is limited by the capital-intensive nature of its logistics-heavy service model and the inherent delays in government contract payment cycles.
The lack of improvement in asset turnover suggests that the company's operational efficiency is not scaling with its revenue growth. This inefficiency, combined with the lumpy nature of contract receivables, creates a challenging environment for maintaining consistent working capital management, which may continue to pressure cash flow stability.
Based on comparative analysis, VVX's net margin of approximately 1.5% significantly lags behind peers like Leidos and SAIC, highlighting a structural disadvantage in its business mix that limits its ability to compete for higher-margin digital transformation and intelligence-focused government contracts.
The margin disparity appears to be a direct consequence of VVX's heavy exposure to lower-margin logistics and base operations compared to the more technology-centric portfolios of its peers. This gap is likely structural, and investors should be skeptical of rapid margin expansion unless the company can successfully shift its contract mix toward higher-value technical services.
The P/E ratio is frequently misapplied to VVX because it fails to account for the significant non-cash charges and integration-related adjustments that distort net income, making it a poor metric for evaluating the underlying cash-generating capacity of this complex, post-merger government services entity.
Analysts should instead focus on EV/EBITDA or free cash flow metrics to better understand the company's operational performance, as these measures are less susceptible to the accounting noise inherent in long-term contract adjustments. Relying on P/E ratios in this context may lead to an inaccurate assessment of the company's true valuation and earnings power.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying VVX stock.
V2X, Inc.'s current P/E ratio is 31.4x. The historical average is 15.6x. This places it at the 90th percentile of its historical range.
V2X, Inc.'s current EV/EBITDA is 10.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
V2X, Inc.'s return on equity (ROE) is 7.4%. The historical average is 19.2%.
Based on historical data, V2X, Inc. is trading at a P/E of 31.4x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
V2X, Inc. has 8.3% gross margin and 4.3% operating margin.
V2X, Inc.'s Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.