V2X (VVX)


Market Price (11/12/2026): $82.115 | Market Cap: $2.6 BilSector: Industrials | Industry: Aerospace & Defense

V2X (VVX)


Market Price (11/12/2026): $82.115
Market Cap: $2.6 Bil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
FCF Yield is 6.2%

Low stock price volatility
Vol 12M is 42%

Megatrend and thematic drivers
Megatrends include National Security & Defense, and Cybersecurity. Themes include Defense Logistics & Readiness, Defense IT & Communications, Show more.

Weak multi-year price returns
2Y Excs Rtn is -7.5%

Key risks
VVX key risks include [1] a significant debt load from the Vertex merger and [2] persistently thin profit margins.

0 Attractive yield
FCF Yield is 6.2%
1 Low stock price volatility
Vol 12M is 42%
2 Megatrend and thematic drivers
Megatrends include National Security & Defense, and Cybersecurity. Themes include Defense Logistics & Readiness, Defense IT & Communications, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -7.5%
4 Key risks
VVX key risks include [1] a significant debt load from the Vertex merger and [2] persistently thin profit margins.

VVX in ETFs

Weight = VVX's share of each fund

VTI0.00%
ITOT0.00%
IWM0.08%
IJR0.14%
SLYV0.26%
IJS0.26%
VIOV0.25%
ITA0.19%
+11 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Prices as of 11/11/2026

Nov 9: up 7.4% in one day (S&P 500 up 2.4%)
The stock increased without company news, amidst a broad-based relief rally that also saw the market rise. Headlines cited a broad-based relief rally and a significant jump in the Dow.

Up 22.2% from its Oct 7 low to Nov 2 (S&P 500 down 3.2%)
The stock increased over this run without company news, as seen on its biggest up days, October 8, 26, and 29. This trend occurred independently of the market, which moved lower.

Nov 3: down 2.9% the day after its Nov 2 earnings report (S&P 500 up 0.3%)
The stock declined following the third quarter 2026 earnings report, despite the company reporting increased revenue and net income. Reported diluted EPS also increased and beat analyst estimates for the quarter.

Show more
Prices as of 11/11/2026

Nov 9: up 7.4% in one day (S&P 500 up 2.4%)
The stock increased without company news, amidst a broad-based relief rally that also saw the market rise. Headlines cited a broad-based relief rally and a significant jump in the Dow.

Up 22.2% from its Oct 7 low to Nov 2 (S&P 500 down 3.2%)
The stock increased over this run without company news, as seen on its biggest up days, October 8, 26, and 29. This trend occurred independently of the market, which moved lower.

Nov 3: down 2.9% the day after its Nov 2 earnings report (S&P 500 up 0.3%)
The stock declined following the third quarter 2026 earnings report, despite the company reporting increased revenue and net income. Reported diluted EPS also increased and beat analyst estimates for the quarter.

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Stock Movement Drivers

Fundamental Drivers

The -8.9% change in VVX stock from 7/31/2026 to 11/11/2026 was primarily driven by a -18.3% change in the company's P/E Multiple.
(LTM values as of)731202611112026Change
Stock Price ($)90.2482.17-8.9%
Change Contribution By: 
Total Revenues ($ Mil)4,7185,0016.0%
Net Income Margin (%)1.9%2.0%5.6%
P/E Multiple31.826.0-18.3%
Shares Outstanding (Mil)3131-0.4%
Cumulative Contribution-8.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/11/2026
ReturnCorrelation
VVX-8.9% 
Market (SPY)1.7%4.8%
Sector (XLI)-4.9%25.2%

Fundamental Drivers

The 21.2% change in VVX stock from 4/30/2026 to 11/11/2026 was primarily driven by a 14.1% change in the company's Net Income Margin (%).
(LTM values as of)430202611112026Change
Stock Price ($)67.8182.1721.2%
Change Contribution By: 
Total Revenues ($ Mil)4,4805,00111.6%
Net Income Margin (%)1.7%2.0%14.1%
P/E Multiple27.326.0-4.9%
Shares Outstanding (Mil)31310.0%
Cumulative Contribution21.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/11/2026
ReturnCorrelation
VVX21.2% 
Market (SPY)6.0%7.0%
Sector (XLI)-1.8%20.1%

Fundamental Drivers

The 43.9% change in VVX stock from 10/31/2025 to 11/11/2026 was primarily driven by a 21.8% change in the company's Net Income Margin (%).
(LTM values as of)1031202511112026Change
Stock Price ($)57.0982.1743.9%
Change Contribution By: 
Total Revenues ($ Mil)4,3345,00115.4%
Net Income Margin (%)1.6%2.0%21.8%
P/E Multiple25.626.01.2%
Shares Outstanding (Mil)32311.1%
Cumulative Contribution43.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/11/2026
ReturnCorrelation
VVX43.9% 
Market (SPY)12.3%15.4%
Sector (XLI)11.2%25.5%

Fundamental Drivers

The 60.9% change in VVX stock from 10/31/2023 to 11/11/2026 was primarily driven by a 29.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202311112026Change
Stock Price ($)51.0782.1760.9%
Change Contribution By: 
Total Revenues ($ Mil)3,8585,00129.6%
P/S Multiple0.40.525.4%
Shares Outstanding (Mil)3131-1.0%
Cumulative Contribution60.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/11/2026
ReturnCorrelation
VVX60.9% 
Market (SPY)87.9%28.1%
Sector (XLI)80.8%37.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VVX Return-8%-10%12%3%14%51%65%
Peers Return8%21%11%12%-3%9%72%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
VVX Win Rate33%50%58%42%50%55% 
Peers Win Rate62%60%60%67%47%49% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
VVX Max Drawdown-31%-38%-26%-32%-24%-25% 
Peers Max Drawdown-19%-20%-19%-28%-32%-37% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: LDOS, SAIC, KBR, CACI, BAH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/11/2026 (YTD)

How Low Can It Go

EventVVXS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.0%-9.5%
  % Gain to Breakeven25.1%10.5%
  Time to Breakeven175 days24 days
2023 SVB Regional Banking Crisis
  % Loss-13.7%-6.7%
  % Gain to Breakeven15.8%7.1%
  Time to Breakeven36 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-35.4%-24.5%
  % Gain to Breakeven54.7%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-48.9%-33.7%
  % Gain to Breakeven95.8%50.9%
  Time to Breakeven350 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-35.3%-19.2%
  % Gain to Breakeven54.5%23.8%
  Time to Breakeven112 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-45.5%-3.7%
  % Gain to Breakeven83.5%3.9%
  Time to Breakeven222 days6 days

Compare to LDOS, SAIC, KBR, CACI, BAH

In The Past

V2X's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVVXS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.0%-9.5%
  % Gain to Breakeven25.1%10.5%
  Time to Breakeven175 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-35.4%-24.5%
  % Gain to Breakeven54.7%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-48.9%-33.7%
  % Gain to Breakeven95.8%50.9%
  Time to Breakeven350 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-35.3%-19.2%
  % Gain to Breakeven54.5%23.8%
  Time to Breakeven112 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-45.5%-3.7%
  % Gain to Breakeven83.5%3.9%
  Time to Breakeven222 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-33.3%-12.2%
  % Gain to Breakeven49.8%13.9%
  Time to Breakeven133 days62 days

Compare to LDOS, SAIC, KBR, CACI, BAH

In The Past

V2X's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About V2X (VVX)

V2X (Vectrus, Inc.) is a global government services contractor that provides a comprehensive range of mission-critical solutions. The company specializes in supporting complex operations for clients that primarily include defense and government agencies, both within the United States and internationally.

V2X's core service offerings are categorized into four main areas. These include Facility and Base Operations, covering everything from maintenance, security, and airfield management to public works and emergency services for large installations. They also provide extensive Supply Chain and Logistics services, such as warehouse management, asset management, and complex aviation and equipment maintenance, repair, and overhaul (MRO). Furthermore, V2X offers Information Technology (IT) Mission Support, encompassing critical communications, network and cybersecurity, and IT service management. Lastly, their Engineering and Digital Integration solutions involve advanced engineering, integrated electronic security systems, software development, and sensor technologies.

Essentially, V2X serves as a vital partner for government and defense organizations, delivering the foundational support, logistical efficiency, secure IT infrastructure, and advanced engineering necessary for their global operations and missions. The company's integrated approach allows it to manage and optimize complex environments, ensuring operational continuity and security for its specialized clientele.

AI Analysis | Feedback

V2X is like Leidos or Booz Allen Hamilton, but for the full operational spectrum of government and military bases, encompassing everything from physical infrastructure and logistics to advanced IT and cybersecurity.

V2X is like Fluor Corporation, but with a much deeper specialization in IT, cybersecurity, and advanced digital integration for government and military clients.

AI Analysis | Feedback

  • Facility and Base Operations: Provides management and maintenance services for government facilities and military bases, ensuring operational readiness and support.
  • Supply Chain and Logistics: Offers comprehensive services for managing supply chains, logistics, asset movement, and equipment maintenance, repair, and overhaul.
  • Information Technology Mission Support: Delivers essential IT services, including communications, network and cybersecurity, IT service management, and systems installation and activation.
  • Engineering and Digital Integration: Provides advanced engineering, security system integration, software development, sensor technologies, and energy solutions.

AI Analysis | Feedback

V2X (symbol: VVX) primarily serves government entities, not individuals or other public companies in the traditional sense.

Its major customer is the **U.S. Government**, specifically the **Department of Defense (DoD)**, which accounts for the vast majority of its revenue.

Other significant customers include other **U.S. Federal Agencies** and various **International Governments**.

As these are government entities, they are not publicly traded companies and therefore do not have stock symbols.

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Jeremy Wensinger, President and Chief Executive Officer

Jeremy Wensinger was appointed President and Chief Executive Officer and a member of V2X's Board of Directors, effective June 17, 2024. He has a distinguished 35-year career as an executive in the defense and government services industry. Prior to joining V2X, Mr. Wensinger served as Chief Operating Officer of Peraton Inc. Peraton was established and grew through acquisitions made by the private equity firm Veritas Capital. During his tenure at Peraton, Mr. Wensinger was instrumental in successfully integrating acquisitions from major firms such as L3Harris, Northrop Grumman, and Perspecta. His previous experience also includes various leadership roles at Harris Corporation, Cobham PLC, and PAE Government Services, Inc. He also served as a principal at Augusta Management Strategies, where he provided consulting services for mergers and acquisitions and strategic planning. His career began at Harris Corporation, where he spent nearly 20 years, holding key positions and expanding the IT service division through acquisitions.

Shawn Mural, Senior Vice President, Chief Financial Officer

Shawn Mural was appointed Senior Vice President and Chief Financial Officer of V2X, effective October 2, 2023. In this role, he oversees all finance and accounting functions, including controllership, finance operations, planning, tax, treasury, investor relations, and corporate development. Mr. Mural joined V2X from RTX Corporation and its subsidiaries ("RTX"), where he spent over 24 years in various capacities of increasing responsibility. Most recently, he served as Vice President of Finance and CFO of Raytheon, a subsidiary of RTX. His roles at RTX also included CFO of RTX (then Raytheon) from April to September (implied 2023), VP and CFO of Raytheon's Space and Airborne Systems from 2016 to 2020, and CFO of Thales Raytheon Systems from 2013 to 2016.

L. Roger Mason, Jr., Chief Growth Officer

L. Roger Mason, Jr. was named Chief Growth Officer of V2X, effective January 13, 2025. He is responsible for driving the company's growth strategy, identifying new market opportunities, and enhancing business development efforts. Before joining V2X, he was a senior vice president for Parsons Corporation, where he advised the executive leadership team on market strategy, growth priorities, M&A integration efficiencies, and margin expansion. Previously, he served as the President of Peraton's Space & Intelligence Sector, a $2 billion business. Dr. Mason's career also includes serving as the first Assistant Director of National Intelligence for Systems and Resource Analyses, and senior executive leadership positions at Noblis, General Dynamics, and the Institute for Defense Analyses. He was awarded the National Intelligence Distinguished Service Medal.

Melon Yeshoalul, Senior Vice President, Chief Human Resources Officer

Melon Yeshoalul was named Senior Vice President, Chief Human Resources Officer, effective April 21, 2025. In this role, she is responsible for the company's global human resources strategy and operations, including talent management, recruitment, leadership development, and compensation and benefits. Prior to V2X, she held a senior leadership role at Amazon Web Services (AWS). Her extensive experience, spanning more than two decades, includes top HR leadership positions at DXC Technology, PwC, and The Boeing Company.

Jeremy Nance, General Counsel

Jeremy Nance was appointed General Counsel of V2X, effective August 27, 2024. He oversees all legal matters, contracts, ethics, corporate compliance, security, and government relations for the company. Mr. Nance has been a part of V2X's legal team since July 2018, and most recently served as Vice President, Deputy General Counsel, and Chief Compliance Officer. Before the V2X merger, he was the Executive Vice President and General Counsel of Vertex, where he also served as Corporate Secretary and Chief Compliance Officer, managing mergers and acquisitions and corporate governance. He also served as Senior Director of Legal and Contracts for L-3 Vertex Aerospace prior to Vertex's divestiture from L3Harris.

AI Analysis | Feedback

The key risks to V2X's business include its significant dependence on U.S. government contracts and associated budget uncertainties, financial challenges stemming from a high debt load and margin pressures, and the ever-present threat of cybersecurity breaches.

The most significant risk for V2X is its substantial reliance on U.S. government contracts, which generate a large portion of its revenue. This dependence exposes the company to uncertainties related to government defense budgets, changes in policy, competitive bidding processes, and regulatory shifts. Any fluctuations in defense spending, delays in contract awards, reductions in contract scope, or cancellations could directly and negatively impact V2X's revenue and profitability.

Secondly, V2X faces considerable financial risks, primarily due to the significant indebtedness assumed following its merger. The company's high debt load and prevailing low margins could hinder its financial condition, ability to service debt, and capacity to invest in critical areas like research and development. Furthermore, variable rate indebtedness makes V2X susceptible to interest rate risks.

Finally, cybersecurity threats represent a critical risk to V2X. The company relies heavily on its information technology systems to conduct operations and manage sensitive information. Potential breaches or disruptions to these systems could compromise proprietary and classified data, severely impact operations, and lead to significant reputational damage and financial repercussions.

AI Analysis | Feedback

The emergence of highly automated, AI-driven platforms and robotics solutions specifically designed for integrated facility and base operations, supply chain management, and security. These advanced systems, developed by specialized technology companies, could significantly reduce the need for human personnel and traditional service contracts, offering clients greater efficiency and lower costs by leveraging autonomous operations, predictive analytics, and end-to-end digital integration. This shift could disrupt V2X's current service model, which relies significantly on human resources for operational support, maintenance, and logistics.

AI Analysis | Feedback

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V2X (VVX) operates in several significant addressable markets related to government and defense contracting.

Facility and Base Operations

  • The global facility management services market was valued at USD 1.75 trillion in 2024 and is projected to reach USD 2.33 trillion by 2033, growing at a compound annual growth rate (CAGR) of 3.3% from 2025 to 2033. North America accounted for the largest revenue share of 34.6% in this market in 2024.
  • The U.S. facility management market was valued at approximately USD 315.78 billion in 2024 and is expected to grow to USD 442.89 billion by 2030, with a CAGR of around 5.80% from 2025-2030. Another estimate places the U.S. facility management market at USD 365.93 billion in 2025, growing to USD 434.16 billion by 2031 at a CAGR of 2.89%. The government and public sector segment within the U.S. facility management market is projected to grow the fastest from 2025 to 2030.

Supply Chain and Logistics Services

  • The global defense logistics market was valued at USD 198.39 billion in 2025 and is expected to reach USD 360.35 billion by 2035, growing at a CAGR of 6.15%. Another source indicates the global defense logistics market size was valued at USD 203.8 billion in 2022 and is projected to reach USD 329.9 billion by 2032, with a CAGR of 5.0%.
  • North America dominated the global defense logistics market with a 35.0% revenue share in 2023. The U.S. defense logistics market was valued at USD 68.31 billion in 2025 and is projected to reach USD 120.61 billion by 2035, growing at a CAGR of 5.85%. It generated a revenue of USD 45.87 billion in 2024 and is expected to reach USD 65.37 billion by 2030.

Information Technology Mission Support

  • Worldwide government IT spending is projected to increase to $590 billion in 2023. The global ICT investment in government market was valued at USD 560.95 billion in 2024 and is expected to grow to USD 752.57 billion by 2033, with a CAGR of 3.32%.
  • The U.S. government sector's technology spending, including staff costs, is projected to reach $357 billion in 2026, up from $343 billion in 2025. The U.S. IT Services market was valued at USD 490.86 billion in 2025 and is estimated to grow to USD 737.42 billion by 2031, at a CAGR of 7.02%. North America is expected to dominate the IT services market, holding a 38.8% share by 2035, driven by advanced technologies and substantial federal spending.

Engineering and Digital Integration Solutions

  • The global aerospace and defense engineering service market is expected to reach approximately $100 billion by 2028, with a CAGR of 5-7% over the next five years. The global aerospace & defense product engineering services market was valued at US$168.1 million in 2024 and is estimated to grow at a CAGR of 5.9% from 2024 to 2030, with North America being the largest revenue-generating market.
  • The global defense digital-engineering market was valued at $8.7 billion in 2024 and is projected to reach $23.4 billion by 2033, growing at a CAGR of 11.5%. North America holds the largest share, accounting for over 38% of global revenue in 2024.
  • The global aerospace & defense consulting market was valued at USD 36.95 billion in 2025 and is projected to grow to USD 74.33 billion by 2034, exhibiting a CAGR of 8.08%. North America held the dominant share in 2024, valuing at USD 12.41 billion.
  • The U.S. engineering services market is expected to grow from USD 1.2 trillion in 2025 to USD 1.9 trillion by 2034, at a 5.5% CAGR.
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AI Analysis | Feedback

V2X (symbol: VVX) is expected to drive future revenue growth over the next 2-3 years through several key areas:

  1. Significant Contract Wins and Record Backlog: A primary driver of revenue growth for V2X is its ability to secure major government contracts, which contribute to a substantial and growing backlog. Notably, the company was awarded the approximately $4.3 billion T-6 Aircraft program, expected to begin contributing revenue in 2026, with an anticipated $140 million to $160 million in that year alone. Additionally, V2X secured a position on the Advanced Technology Support Program 5 (ATSP5), a $25 billion multiple-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract, enabling it to provide engineering and technology solutions for defense systems. The company reported an $11.1 billion total backlog at the end of 2025, which provides strong long-term revenue visibility, and anticipates a book-to-bill ratio above 1.0 in 2026.
  2. Expanded Qualified Pipeline and Increased Bid Velocity: V2X has a robust qualified pipeline exceeding $60 billion, indicating a substantial pool of potential future business opportunities. The company increased its bid velocity by 50% in 2025 and aims for a further 30% increase in 2026, demonstrating an aggressive strategy to capture new programs and sustain revenue growth.
  3. Strategic Focus on Technology Integration, AI, and Digital Solutions: V2X is increasingly leveraging strategic partnerships and internal investments to deliver advanced technological solutions. Collaborations with Amazon Web Services for logistics automation and Google Public Sector for AI solutions aim to provide data-driven supply chain and AI-based capabilities to its defense and commercial clientele. The scope of contracts like ATSP5 also emphasizes the development of emerging technologies, including AI-optimized systems, signaling a strong push into digital integration and machine learning.
  4. Expansion in Key Markets and Alignment with National Security Priorities: The company's growth is further supported by favorable market dynamics, including increased defense spending and foreign military sales. V2X has been awarded significant national security contracts, totaling $100 million in Q4 2025, for services in cyber operations, special systems integration, and contested logistics. Management has consistently highlighted its alignment with U.S. national security priorities for readiness and modernization as a crucial tailwind for continued growth, particularly in areas like training and rapid prototyping programs. While the Indo-Pacific market was flat in Q4 2025, the company remains optimistic about future opportunities and is well-positioned for growth in this region.

AI Analysis | Feedback

Share Repurchases

  • V2X authorized a $100 million share repurchase program over three years, effective May 12, 2025.
  • The company repurchased $10 million of shares during the third quarter of 2025.
  • V2X spent $20.0 million on share buybacks in the fourth quarter of 2025.

Share Issuance

  • In July 2022, approximately 18.59 million shares of Vectrus common stock were issued to Vertex shareholders as part of the all-stock merger transaction that created V2X.
  • At the 2025 Annual Meeting held on May 8, shareholders approved an amendment to increase the number of shares available for issuance by 900,000 under the 2014 Omnibus Incentive Plan.
  • V2X reported stock-based compensation expenses of $11.92 million in fiscal year 2025, $15.97 million in fiscal year 2024, and $32.84 million in fiscal year 2023.

Outbound Investments

  • In August 2025, V2X entered into an agreement to acquire a specialized data engineering, intel mission support, and cyber solutions business serving the Intelligence Community for approximately $24 million net of estimated tax benefits.

Capital Expenditures

  • V2X's capital expenditures were approximately $9.78 million in 2021, $12.43 million in 2022, $25.02 million in 2023, and $11.79 million in 2024.
  • For fiscal year 2025, capital expenditures were approximately $11.92 million, with $2.3 million invested in the fourth quarter, primarily for long-term assets and infrastructure.
  • Capital expenditures are forecast at $25 million for 2026.

Better Bets vs. V2X (VVX)

Peer Outperformance in Aerospace & Defense

VVX has trailed 53% of its 53 Aerospace & Defense peers over 5Y. Among the peers that beat it are ATI, MOG-A and CW. Aerospace & Defense ranks 4th of 23 industries in Industrials by median 5Y return.
Share of Aerospace & Defense constituents that VVX has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
86%
of 70 industry peers · 45.7% return
3Y
59%
of 59 industry peers · 96.3% return
5Y
47%
of 53 industry peers · 59.9% return
Aerospace & Defense peers with revenue growth within 4pp of VVX's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
VVX V2X 8.7% 26.0x 45.7%96.3%59.9% —
ATI ATI 6.8% 45.9x 91.5%329.2%966.7% +907pp
MOG-A Moog 10.4% 29.2x 72.1%168.8%350.3% +290pp
CW Curtiss-Wright 9.9% 31.7x -16.5%132.7%268.1% +208pp
DCO Ducommun 5.3% 41.1x 49.1%203.9%180.9% +121pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is VVX's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 28 -10.9%105.0%116.4% FIX 1091% · STRL 953% · AGX 682%
Marine Transportation 5 27.2%33.1%101.9% MATX 142% · KEX 121%
Construction Machinery & Heavy Transportation Equipment 14 14.3%70.1%100.5% ALSN 287% · WAB 223% · CAT 213%
Aerospace & Defense ← 54 3.6%60.3%67.6% ATI 967% · FTAI 947% · HWM 610%
Industrial Machinery & Supplies & Components 71 8.3%53.2%38.4% CRS 858% · MLI 276% · SYM 270%
Rail Transportation 7 36.1%76.3%33.1% CSX 58% · UNP 41% · NSC 33%
Trading Companies & Distributors 19 16.3%42.2%28.5% DXPE 333% · URI 213% · AIT 201%
Diversified Support Services 34 20.4%41.1%23.8% CXW 199% · OPLN 134% · CACI 129%
Building Products 34 -1.9%12.4%20.1% MOD 820% · GFF 352% · TT 140%
Cargo Ground Transportation 16 36.6%19.2%5.9% XPO 305% · R 267% · ARCB 26%
Industrial Conglomerates 17 14.7%11.8%0.9% CSW 104% · CSL 78% · DD 76%
Office Services & Supplies 10 17.3%24.2%-0.1% PBI 145% · HNI 42% · MSA 21%
Electrical Components & Equipment 39 -1.2%67.5%-0.3% POWL 1577% · VRT 677% · BE 518%
Data Processing & Outsourced Services 6 -6.2%2.7%-12.9% EXLS 60% · BR 20% · G -8%
Research & Consulting Services 13 0.6%-14.0%-24.0% HURN 216% · FCN 36% · BAH 7%
Agricultural & Farm Machinery 16 14.0%-1.8%-24.9% DE 107% · TTC 15% · AGCO 8%
Passenger Airlines 11 10.8%86.3%-27.8% LTM 3186% · UAL 131% · DAL 118%
Environmental & Facilities Services 29 -10.1%29.5%-28.6% GEO 249% · CLH 174% · RSG 99%
Air Freight & Logistics 11 -25.6%-0.7%-39.2% FDX 77% · EXPD 63% · CHRW 62%
Security & Alarm Services 9 -45.5%43.8%-39.5% BCO 90%
Human Resource & Employment Services 22 20.5%-14.9%-40.9% ADP 50% · FA 21% · PAYX 10%
Passenger Ground Transportation 3 -24.5%37.0%-50.4% UBER 63% · CAR -50% · LYFT -67%
Airport Services 4 -38.1%-57.9%-82.8% JOBY -37%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VVXLDOSSAICKBRCACIBAHMedian
NameV2X Leidos Science .KBR CACI Int.Booz All. 
Mkt Price82.11134.00152.5036.20645.9586.69110.34
Mkt Cap2.616.66.54.614.310.48.4
Rev LTM5,00117,7957,4027,8209,75510,9818,787
Op Inc LTM2092,1075925669551,017774
FCF LTM1591,959619328776984697
FCF 3Y Avg1361,555478416596908537
CFO LTM1682,1126603828771,076768
CFO 3Y Avg1491,7095134646741,001594

Growth & Margins

VVXLDOSSAICKBRCACIBAHMedian
NameV2X Leidos Science .KBR CACI Int.Booz All. 
Rev Chg LTM13.2%2.7%-0.8%-2.4%10.1%-6.2%0.9%
Rev Chg 3Y Avg8.7%5.5%-1.2%4.7%12.0%3.4%5.1%
Rev Chg Q8.9%3.6%6.3%5.0%8.2%-3.9%5.6%
QoQ Delta Rev Chg LTM2.1%0.9%1.5%1.3%2.0%-1.0%1.4%
Op Inc Chg LTM7.3%3.4%6.1%1.4%19.9%-8.0%4.8%
Op Inc Chg 3Y Avg21.8%20.4%4.0%6.6%18.7%43.5%19.5%
Op Mgn LTM4.2%11.8%8.0%7.2%9.8%9.3%8.6%
Op Mgn 3Y Avg4.0%11.5%7.4%7.2%9.2%10.1%8.3%
QoQ Delta Op Mgn LTM-0.0%0.0%0.1%0.2%0.2%-0.2%0.1%
CFO/Rev LTM3.4%11.9%8.9%4.9%9.0%9.8%9.0%
CFO/Rev 3Y Avg3.3%9.9%6.9%6.0%7.5%8.8%7.2%
FCF/Rev LTM3.2%11.0%8.4%4.2%8.0%9.0%8.2%
FCF/Rev 3Y Avg3.0%9.0%6.5%5.4%6.7%8.0%6.6%

Valuation

VVXLDOSSAICKBRCACIBAHMedian
NameV2X Leidos Science .KBR CACI Int.Booz All. 
Mkt Cap2.616.66.54.614.310.48.4
P/S0.50.90.90.61.50.90.9
P/Op Inc12.37.910.98.114.910.210.6
P/EBIT12.68.211.06.314.99.610.3
P/E25.911.717.010.326.413.215.1
P/CFO15.37.99.811.916.39.610.9
Total Yield3.9%9.9%6.9%11.5%3.8%10.3%8.4%
Dividend Yield0.0%1.3%1.0%1.8%0.0%2.7%1.2%
FCF Yield 3Y Avg7.0%8.2%9.3%6.8%5.0%7.6%7.3%
D/E0.40.40.40.60.40.50.4
Net D/E0.30.40.40.50.40.40.4

Returns

VVXLDOSSAICKBRCACIBAHMedian
NameV2X Leidos Science .KBR CACI Int.Booz All. 
1M Rtn19.0%10.2%14.6%2.9%5.1%17.7%12.4%
3M Rtn0.8%-4.2%21.1%-4.6%-5.0%11.4%-1.7%
6M Rtn16.3%8.6%69.7%19.8%28.2%22.9%21.4%
12M Rtn45.6%-31.6%68.7%-13.2%9.9%2.5%6.2%
3Y Rtn96.2%33.8%41.0%-28.5%98.2%-26.8%37.4%
1M Excs Rtn23.8%15.6%18.0%5.9%9.6%23.5%16.8%
3M Excs Rtn4.6%-2.2%24.3%-1.2%-0.0%15.0%2.3%
6M Excs Rtn15.3%7.6%68.7%18.7%27.2%21.9%20.3%
12M Excs Rtn36.0%-41.2%58.4%-23.2%-0.9%-7.9%-4.4%
3Y Excs Rtn29.4%-38.2%-29.7%-96.6%26.6%-98.0%-34.0%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
V2X performs services worldwide4,4804,3223,9632,8911,784
Total4,4804,3223,9632,8911,784


Price Behavior

Price Behavior
Market Price$82.17 
Market Cap ($ Bil)2.6 
First Trading Date09/29/2014 
Distance from 52W High-9.5% 
   50 Days200 Days
DMA Price$74.28$74.31
DMA Trenddownup
Distance from DMA10.6%10.6%
 3M1YR
Volatility38.3%41.7%
Downside Capture35.5164.38
Upside Capture52.44102.35
Correlation (S&P 500)23.4%16.1%
VVX Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.32-0.08-0.65-0.030.380.79
Up Beta2.181.10-2.75-1.21-0.200.89
Down Beta-1.46-2.09-1.13-0.63-0.010.67
Up Capture123%53%-24%62%82%50%
Bmk +ve Days12182862130427
Stock +ve Days15273371139384
Down Capture-86%18%42%32%62%92%
Bmk -ve Days10253664121325
Stock -ve Days7163155112365

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VVX
VVX46.4%41.7%1.01-
Sector ETF (XLI)11.9%18.3%0.4625.6%
Equity (SPY)12.5%13.7%0.6015.1%
Gold (GLD)-3.5%28.8%-0.1310.0%
Commodities (DBC)33.0%21.3%1.249.4%
Real Estate (VNQ)11.7%14.2%0.5311.6%
Bitcoin (BTCUSD)-30.9%43.5%-0.7310.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VVX
VVX11.2%43.6%0.37-
Sector ETF (XLI)11.9%17.8%0.5038.6%
Equity (SPY)11.8%17.3%0.5129.5%
Gold (GLD)17.1%19.2%0.726.4%
Commodities (DBC)7.9%19.6%0.299.5%
Real Estate (VNQ)1.3%18.9%-0.0425.6%
Bitcoin (BTCUSD)3.1%51.5%0.2415.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VVX
VVX17.7%45.6%0.52-
Sector ETF (XLI)13.5%20.2%0.5941.3%
Equity (SPY)15.5%18.0%0.7334.3%
Gold (GLD)11.5%16.6%0.574.4%
Commodities (DBC)7.4%18.2%0.3314.9%
Real Estate (VNQ)6.1%20.7%0.2530.9%
Bitcoin (BTCUSD)58.6%66.3%0.9911.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10302026
Short Interest: Shares Quantity2.1 Mil
Short Interest: % Change Since 10152026-13.9%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest6.7 days
Basic Shares Quantity31.3 Mil
Short % of Basic Shares6.7%

Returns Analyses

Earnings Returns History

Updated 11/11/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/2/2026-2.9%-1.7% 
8/3/2026-8.8%-4.0%-10.3%
5/4/202612.8%2.0%22.0%
2/23/20263.0%4.5%0.9%
11/3/2025-2.2%-3.7%-2.8%
8/4/202515.2%9.1%14.0%
5/5/2025-2.1%5.1%-9.4%
2/24/202515.7%8.9%21.0%
...
SUMMARY STATS   
# Positive111310
# Negative121012
Median Positive5.8%5.1%13.5%
Median Negative-2.8%-4.9%-8.6%
Max Positive33.2%34.5%22.0%
Max Negative-20.8%-25.5%-18.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/2/2026-2.9%-1.7% 
8/3/2026-8.8%-4.0%-10.3%
5/4/202612.8%2.0%22.0%
2/23/20263.0%4.5%0.9%
11/3/2025-2.2%-3.7%-2.8%
8/4/202515.2%9.1%14.0%
5/5/2025-2.1%5.1%-9.4%
2/24/202515.7%8.9%21.0%
11/4/20241.2%11.0%-3.2%
8/6/2024-2.8%0.2%13.4%
5/7/2024-4.2%-9.6%-7.9%
3/5/202412.6%14.1%18.2%
11/6/2023-20.8%-18.6%-14.8%
8/8/20232.2%-3.3%-10.9%
5/9/2023-0.4%-8.1%2.9%
8/9/202233.2%34.5%13.7%
5/10/2022-6.1%-2.6%-5.8%
3/7/2022-10.3%-25.5%-18.0%
11/9/2021-0.9%-5.8%-18.4%
8/10/20215.8%6.5%6.0%
5/11/20210.8%3.6%-1.8%
3/2/20213.9%3.9%-3.8%
11/10/2020-1.1%1.8%11.7%
SUMMARY STATS   
# Positive111310
# Negative121012
Median Positive5.8%5.1%13.5%
Median Negative-2.8%-4.9%-8.6%
Max Positive33.2%34.5%22.0%
Max Negative-20.8%-25.5%-18.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202611/02/202610-Q
06/30/202608/03/202610-Q
03/31/202605/04/202610-Q
12/31/202502/23/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/05/202410-K
09/30/202311/06/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/02/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202611/02/202610-Q
06/30/202608/03/202610-Q
03/31/202605/04/202610-Q
12/31/202502/23/202610-K
09/30/202511/03/202510-Q
06/30/202508/04/202510-Q
03/31/202505/05/202510-Q
12/31/202402/24/202510-K
09/30/202411/04/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/05/202410-K
09/30/202311/06/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/02/202310-K
09/30/202211/08/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/07/202210-K
09/30/202111/09/202110-Q
06/30/202108/10/202110-Q
03/31/202105/11/202110-Q
12/31/202003/02/202110-K
09/30/202011/10/202010-Q
06/30/202008/11/202010-Q
03/31/202005/12/202010-Q
12/31/201903/03/202010-K

Recent Forward Guidance

Updated 11/3/2026

Latest: Q3 2026 Earnings Reported 11/2/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Cash Provided by Operating ActivitiesReported175.00 Mil185.00 Mil195.00 Mil8.8% RaisedGuidance: 170.00 Mil for 2026
2026 Net Leverage RatioReported 2   AffirmedGuidance: 2 for 2026
2026 RevenueReported4.95 Bil5.03 Bil5.10 Bil1.5% RaisedGuidance: 4.95 Bil for 2026
2026 Adjusted EBITDAReported352.50 Mil360.00 Mil367.50 Mil1.4% RaisedGuidance: 355.00 Mil for 2026
2026 Adjusted Diluted Earnings Per ShareReported6.156.356.554.1% RaisedGuidance: 6.1 for 2026


Prior: Q2 2026 Earnings Reported 8/3/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Cash Provided by Operating ActivitiesReported160.00 Mil170.00 Mil180.00 Mil0 AffirmedGuidance: 170.00 Mil for 2026
2026 Net Leverage RatioReported 2    
2026 RevenueReported4.88 Bil4.95 Bil5.03 Bil1.0% RaisedGuidance: 4.90 Bil for 2026
2026 Adjusted EBITDAReported347.50 Mil355.00 Mil362.50 Mil0.7% RaisedGuidance: 352.50 Mil for 2026
2026 Adjusted Diluted Earnings Per ShareReported5.96.16.32.5% RaisedGuidance: 5.95 for 2026

Q1 2026 Earnings Reported 5/4/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Cash Provided by Operating ActivitiesReported160.00 Mil170.00 Mil180.00 Mil6.2% RaisedGuidance: 160.00 Mil for 2026
2026 RevenueReported4.83 Bil4.90 Bil4.97 Bil3.2% RaisedGuidance: 4.75 Bil for 2026
2026 Adjusted EBITDAReported345.00 Mil352.50 Mil360.00 Mil2.8% RaisedGuidance: 343.00 Mil for 2026
2026 Adjusted Diluted Earnings Per ShareReported5.755.956.154.4% RaisedGuidance: 5.7 for 2026

Q4 2025 Earnings Reported 2/23/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Cash Provided by Operating ActivitiesReported150.00 Mil160.00 Mil170.00 Mil18.5% Higher NewGuidance: 135.00 Mil for 2025
2026 RevenueReported4.67 Bil4.75 Bil4.83 Bil6.4% Higher NewGuidance: 4.46 Bil for 2025
2026 Adjusted EBITDAReported335.00 Mil343.00 Mil350.00 Mil8.5% Higher NewGuidance: 316.00 Mil for 2025
2026 Adjusted Diluted Earnings Per ShareReported5.55.75.915.2% Higher NewGuidance: 4.95 for 2025

Insider Activity

Updated 10/13/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Nance, Jeremy JohnSVP and General CounselDirectSell817202682.003,500287,0181,075,168Form
2Parker, Melvin DirectSell812202681.415,000407,0551,644,502Form
3American, Industrial Partners Capital Fund Vi, LP See footnoteSell316202668.212,545,432173,623,917136,731,651Form
4American, Industrial Partners Capital Fund Vi, LP See footnoteSell1215202555.051,200,00066,060,000250,477,555Form
5Cusumano, Dino M See footnoteSell1117202555.002,250,000123,750,000316,250,055Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Nance, Jeremy JohnSVP and General CounselDirectSell817202682.003,500287,0181,075,168Form
2Parker, Melvin DirectSell812202681.415,000407,0551,644,502Form
3American, Industrial Partners Capital Fund Vi, LP See footnoteSell316202668.212,545,432173,623,917136,731,651Form
4American, Industrial Partners Capital Fund Vi, LP See footnoteSell1215202555.051,200,00066,060,000250,477,555Form
5Cusumano, Dino M See footnoteSell1117202555.002,250,000123,750,000316,250,055Form
6American, Industrial Partners Capital Fund Vi, LP See footnoteSell1117202555.002,250,000123,750,000316,250,055Form

Investor Activity (13F)

Updated Nov 12, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Aip, LLC$169.3 Mil63.1%3TRIM -50.7%13F
Ophir Asset Management Pty Ltd$58.0 Mil6.8%34TRIM -7.1%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Aip, LLC$169.3 Mil63.1%3TRIM -50.7%13F
Ophir Asset Management Pty Ltd$58.0 Mil6.8%34TRIM -7.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Aip, LLC$169.3 Mil63.1%3TRIM -50.7%13F
Ophir Asset Management Pty Ltd$58.0 Mil6.8%34TRIM -7.1%13F
Core Cache Last Updated: 11/11/2026