VVX|V2X, Inc.
Services-Facilities Support Management Services
- Revenue
- $4.5B
- ▲ 3.7% YoY
- Operating margin
- 4.3%
- ▲ 18% YoY
- EBITDA
- $211M
- ▲ 17% YoY
- Market cap
- $2.5B
- Employees
- 16,200
- $277K revenue each
- Net debt / EBITDA
- 0.2×
- $35M net debt
- AI in 10-K
- 2.8
- mentions per 10K words
TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
234% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
16% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
52% of assets
Over 40% of assets
Shareholder dissentNo
99% lowest support
Any vote under 80% support
Buyer economics 1 of 4
Low revenue per employeeNo
$277K · 48th pct
Bottom quartile of its SIC industry
Quiet on AINo
2.8 per 10K words · 67th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.2× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$2.5B market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $1.8B | $2.9B | $4.0B | $4.3B | $4.5B | ▲ 3.7% | |
|---|
| Operating income | $62M | $56M | $124M | $159M | $194M | ▲ 22% | |
|---|
| Net income | $46M | −$14M | −$23M | $35M | $78M | ▲ 125% | |
|---|
| Operating cash flow | $61M | $93M | $188M | $254M | $182M | ▼ 28% | |
|---|
| Capex | $10M | $12M | $25M | $12M | $12M | ▲ 1.2% | |
|---|
| Stock-based comp | $8M | $33M | $33M | $16M | $12M | ▼ 25% | |
|---|
| Buybacks | — | — | $0 | $0 | $30M | | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| May 13, 2026 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 1.2% | Passive |
| Mar 16, 2026 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 7.9% | Passive |
| Dec 15, 2025 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 16.1% | Passive |
| Nov 17, 2025 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 19.9% | Passive |
| Sep 15, 2025 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 26.9% | Active |
| Aug 13, 2025 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 32.3% | Passive |
| May 21, 2025 | American Industrial Partners Capital Fund VI, L.P. | SCHEDULE 13D/A | 38.4% | Passive |
| Nov 18, 2024 | American Industrial Partners Capital Fund VI, L.P. | SC 13D/A | 44.9% | Passive |
| Sep 16, 2024 | American Industrial Partners Capital Fund VI, L.P. | SC 13D/A | 53.2% | Passive |
| Sep 10, 2024 | American Industrial Partners Capital Fund VI, L.P. | SC 13D/A | 54.4% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $488M · 6
- Net
- −$488M
Pay vs performance
No pay-versus-performance disclosure yet.