V2X, Inc. (VVX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+393.5%

$404.03

vs $81.88 price

Levered DCF

$254.04

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.76

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	22.09×	43.48×	-63.62×	-60.72×	11.71×	15.59×	17.68×	6.87×
P/B	1.59×	1.47×	1.46×	0.87×	1.53×	1.89×	2.27×	1.09×
P/S	0.38×	0.35×	0.36×	0.3×	0.3×	0.41×	0.42×	0.19×
EV / EBITDA	8.45×	9.09×	11.95×	17.6×	8.25×	13.71×	11.34×	4.74×
Gross margin	8.3%	7.9%	8.4%	10.2%	9.0%	8.9%	9.3%	9.0%
Operating margin	4.3%	3.7%	3.1%	1.9%	3.5%	3.1%	3.6%	3.8%
Net margin	1.7%	0.8%	-0.6%	-0.5%	2.6%	2.6%	2.4%	2.8%
Current ratio	1.22×	1.1×	1.04×	1.19×	1.18×	1.42×	1.31×	1.39×
Debt / equity	1.08×	1.12×	1.17×	1.34×	0.43×	0.65×	0.33×	0.33×
Interest coverage	2.29×	1.46×	1.01×	0.9×	7.77×	10.83×	7.67×	9.38×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.2%	3.4%	-2.3%	-1.4%	13.1%	12.1%	12.8%	15.9%
Return on invested capital	6.2%	6.3%	5.0%	2.2%	9.5%	7.3%	9.5%	11.2%
Return on assets	2.3%	1.1%	-0.7%	-0.4%	5.1%	4.4%	5.2%	6.2%
Free cash flow yield	9.9%	16.1%	11.3%	9.4%	9.6%	10.3%	1.9%	12.4%
Earnings yield	4.5%	2.3%	-1.6%	-1.7%	8.5%	6.4%	5.7%	14.6%
Enterprise value	$2.5B	$2.4B	$2.5B	$2.1B	$648.4M	$707.3M	$636.4M	$249.7M
Net debt / EBITDA	2.68×	3.36×	5.14×	10.28×	1.43×	2.53×	0.89×	0.14×
Cash conversion cycle (days)	15	14	24	41	24	37	28	17