V2X (VVX)
NYSE:VVX
Top Page
V2X
(NYSE:VVX)
Select Model
Select Model
Rating:68Neutral
Price Target:
$74.00
▲(11.13% Upside)
Action:ReiteratedDate:02/24/26
The score is driven mainly by improved fundamentals (return to profitability, reduced leverage, positive but uneven cash generation) and constructive 2026 guidance with strong contract momentum. This is tempered by thin margins/cash conversion volatility and a relatively high P/E, while technicals are supportive with the stock trading above key moving averages.
Positive Factors
Contract wins, backlog and large pipeline
Material multi‑year awards (T‑6) plus an $11.1B backlog and a >$60B qualified pipeline provide durable revenue opportunity and bidding optionality. Large program wins reduce reliance on spot work and create long‑cycle revenue visibility that supports multi‑period planning and capacity investment.
Negative Factors
Thin margins and volatile cash conversion
Narrow operating margins and swings in free cash flow make earnings and reinvestment capacity sensitive to cost overruns, ramp inefficiencies and timing quirks. Persistently thin margins compress buffers against contract execution risk and limit durable free‑cash‑flow growth absent structural margin expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract wins, backlog and large pipeline
Material multi‑year awards (T‑6) plus an $11.1B backlog and a >$60B qualified pipeline provide durable revenue opportunity and bidding optionality. Large program wins reduce reliance on spot work and create long‑cycle revenue visibility that supports multi‑period planning and capacity investment.
Read all positive factors
V2X (VVX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.08B
Dividend YieldN/A
Average Volume (3M)582.73K
Price to Earnings (P/E)22.1
Beta (1Y)1.22
Revenue Growth5.10%
EPS Growth774.57%
CountryUS
Employees16,100
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)1.56
Shares Outstanding31,173,445
10 Day Avg. Volume450,538
30 Day Avg. Volume582,732
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.59
Price to Sales (P/S)0.38
P/FCF Ratio10.12
Enterprise Value/Market Cap1.38
Enterprise Value/Revenue0.64
Enterprise Value/Gross Profit7.70
Enterprise Value/Ebitda9.73
Forecast
1Y Price Target
$75.83Price Target Upside13.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)5.82
Revenue Forecast (FY)$4.77B
V2X Business Overview & Revenue Model
Company Description
V2X, Inc. is based in Colorado Springs, Colorado....
How the Company Makes Money
V2X generates revenue through multiple streams, including the sale of its V2X communication hardware and software solutions to municipalities and transportation agencies. Additionally, the company earns income from licensing its technology to auto...
V2X Key Performance Indicators (KPIs)
Any
Remaining Performance Obligations
Value of contracted customer work the company has committed to deliver but has not yet recognized as revenue. A larger RPO provides visibility into future top-line growth and suggests stronger demand, while declines, high cancellation exposure, or a large portion subject to change indicate revenue at risk. Comparing RPO to current revenue and cash flow helps judge how much growth is already locked in versus dependent on future execution or contract renewals.
Value of contracted customer work the company has committed to deliver but has not yet recognized as revenue. A larger RPO provides visibility into future top-line growth and suggests stronger demand, while declines, high cancellation exposure, or a large portion subject to change indicate revenue at risk. Comparing RPO to current revenue and cash flow helps judge how much growth is already locked in versus dependent on future execution or contract renewals.
Data provided by:
The Fly
The FlyV2X Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive picture: record quarterly and full-year financials, double-digit adjusted EPS and adjusted net income growth, significant contract wins (including two >$1B and a secured T-6 award), improved leverage and strong pipeline and partnerships centered on AI and technology. Headwinds include a sub-1 book-to-bill trailing rate (reliant on large award timing), funded backlog concentration, early-phase margin pressure on new ramps, regional operational fluidity, and timing/protest risk around awards. Management issued a constructive 2026 guide (midpoint ~6% revenue growth, EBITDA and EPS expansion) while acknowledging timing and execution-related uncertainties.Positive Updates
Record Quarterly Revenue and EBITDA
Q4 revenue reached a record $1.219 billion, up 5% year-over-year; Q4 adjusted EBITDA was a record $88.7 million with an adjusted EBITDA margin of 7.3%.
Negative Updates
Book-to-Bill Below 1 Trailing Twelve Months
Trailing 12-month book-to-bill was 0.9 (below 1.0). Management expects book-to-bill to be above 1 in 2026, but achieving that is dependent in part on timing and booking of large awards such as T-6.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Quarterly Revenue and EBITDA
Q4 revenue reached a record $1.219 billion, up 5% year-over-year; Q4 adjusted EBITDA was a record $88.7 million with an adjusted EBITDA margin of 7.3%.
Read all positive updates
Company Guidance
V2X's 2026 guidance calls for revenue of $4.675–4.825 billion (midpoint $4.75B, ~6% growth), adjusted EBITDA of $335–350M, adjusted diluted EPS of $5.50–5.90 (midpoint ≈+9%), and adjusted net cash provided by operating activities of $150–170M (guide assumes an extra payroll period worth ~ $50M impacting cash flow). The company expects cash interest of ≈$69M, other expenses of ~$15M, capex of ~$25M, and ~3% of revenue at the midpoint from recompetes; backlog stood at $11.1B (funded backlog $2.3B) excluding the ~$4.3B T‑6 award to be booked in Q1, trailing 12‑month book‑to‑bill was 0.9 with book‑to‑bill expected >1 in 2026. For context, 2025 results included revenue $4.48B, adjusted EBITDA $323.3M (7.2% margin), adjusted net income $166.8M, adjusted diluted EPS $5.24, net debt improvement of $116M to $758M, and net leverage of 2.2x.V2X Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
70
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.48B | 4.32B | 3.96B | 2.89B | 1.78B |
| Gross Profit | 373.38M | 342.96M | 334.86M | 295.01M | 160.42M |
| EBITDA | 298.37M | 262.88M | 212.20M | 118.40M | 78.57M |
| Net Income | 77.88M | 34.68M | -22.57M | -14.33M | 45.73M |
Balance Sheet | |||||
| Total Assets | 3.39B | 3.23B | 3.08B | 3.23B | 889.46M |
| Cash, Cash Equivalents and Short-Term Investments | 368.99M | 268.32M | 72.65M | 116.07M | 38.51M |
| Total Debt | 1.17B | 1.15B | 1.16B | 1.33B | 151.16M |
| Total Liabilities | 2.30B | 2.20B | 2.09B | 2.24B | 539.37M |
| Stockholders Equity | 1.08B | 1.03B | 990.80M | 997.08M | 350.09M |
Cash Flow | |||||
| Free Cash Flow | 170.07M | 242.45M | 162.95M | 81.07M | 51.56M |
| Operating Cash Flow | 181.99M | 254.24M | 187.97M | 93.50M | 61.34M |
| Investing Cash Flow | -29.58M | -28.65M | -22.65M | 175.96M | -12.64M |
| Financing Cash Flow | -51.48M | -24.50M | -211.02M | -193.24M | -75.58M |
V2X Technical Analysis
Negative
66.59
Price Trends
68.76
Negative
63.44
Positive
59.01
Positive
Market Momentum
0.11
Positive
41.71
Neutral
54.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VVX, the sentiment is Negative. The current price of 66.59 is below the 20-day moving average (MA) of 68.70, below the 50-day MA of 68.76, and above the 200-day MA of 59.01, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 41.71 is Neutral, neither overbought nor oversold. The STOCH value of 54.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VVX.
V2X Risk Analysis
V2X disclosed 49 risk factors in its most recent earnings report. V2X reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
V2X Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.08B | 22.10 | 7.30% | ― | 5.10% | 774.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $2.63B | 71.09 | 14.92% | ― | 6.19% | 52.10% | |
60 Neutral | $1.43B | 37.81 | 13.50% | 0.90% | 19.94% | 33.38% | |
59 Neutral | $2.11B | -41.88 | -5.01% | ― | 3.16% | -213.56% | |
59 Neutral | $4.76B | -23.25 | 23.46% | ― | 8.07% | 33.37% | |
49 Neutral | $1.75B | ― | -25.05% | ― | ― | ― |
* Industrials Sector Average
VVX
V2X
66.48
16.59
33.25%
ATRO
Astronics
72.49
50.01
222.46%
DCO
Ducommun
139.99
84.43
151.96%
CDRE
Cadre Holdings
32.65
2.21
7.26%
LUNR
Intuitive Machines
23.57
15.85
205.31%
VOYG
Voyager Technologies, Inc. Class A
29.78
-19.72
-39.84%
V2X Corporate Events
Business Operations and StrategyExecutive/Board Changes
V2X expands board with experienced defense industry leaders
Positive
Jan 8, 2026
On January 7, 2026, V2X, Inc.’s board of directors expanded its size from seven to ten members and appointed Nicole B. Theophilus, Gerard A. Fasano, and Ross S. Niebergall as Class I, II, and III directors, respectively, assigning them to ke...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.