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TickerVVX
SectorAerospace & Defense
Mkt cap$2.2B
EV / EBITDA9.9×
PostureHigh Velocity
Composite78/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1601548

V2X, Inc.

VVXHIGH VELOCITYFILING INTENSITY

V2X, Inc. reads as High Velocity (composite 78/100); pressure / disclosure signals dominate the posture this cycle · primary market A&D Components.

Lens

Disclosed M&A capital (2023–2025)

$44M

−86%

vs $328M in 2020–2022

Disclosed transactions

N/A

−99%

2/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

78

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$4.7B
EBITDA$308M
Enterprise value$3.1B
EV / Revenue0.6×
EV / EBITDA9.9×
P/EN/A
Cash$209M
Total debt$15M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

30/100

Companies actively deploying disclosed capital into M&A

  • $490M disclosed buyer spend
  • Filed within 19d

Buyer Cadence

28/100

Buyer-side companies with recent filing activity

  • Filed within 19d
  • 147 8-Ks

Target Probability

24/100

Issuers showing target-side patterns from filings

  • 5 activism filings

Spin/Carve

4/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 6 spin pre-registrations
  • Latest event 12y ago; heavily discounted
  • 5 activism filings

Pressure Watch

42/100

Issuers facing activism, governance, or control pressure

  • 5 activism filings
  • Latest activism 1.5y ago

Distress Watch

18/100

Issuers showing financial-distress filing patterns

  • 5 activism filings

Restatement Risk

3/100

Issuers with accounting-integrity flags from filings

  • 1 auditor change
  • Latest event 3.8y ago; discounted

Capital Velocity

Dominant
78/100

Issuers with the highest filing-activity intensity

  • 147 8-Ks
  • Filed within 19d
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $3.1B
  • 10-Q 22d ago
  • 4 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $194M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/A$28MN/AN/A
2024N/A$17MN/AN/A
2023N/AN/AN/AN/A
20221$194M$194MN/A
20212$300K$150KN/A
20202$134M$67MN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Platform
    20%
  • Geographic Expansion
    20%
  • Technology Acquisition
    20%
  • Bolt On
    20%
  • Horizontal Consolidation
    20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • platform
  • geographic_expansion
  • technology_acquisition
  • bolt_on
  • horizontal_consolidation
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

These acquisitions provide additional capabilities in logistics and supply chain; security; facility engineering, design, and planning; advanced engineering; IT; and international readiness solutions.

10-KFY2020

The Merger created a larger and more diversified company with the ability to compete for more integrated business opportunities and generate revenue across geographies, clients, and contract-types.

10-KFY2022

•consolidating corporate and administrative infrastructures and eliminating duplicative operations and inconsistencies in standards, controls, procedures and policies;

10-KFY2023

This acquisition increases our scope and strengthens our value proposition to clients as a fully integrated provider and partner in their installations and facilities.

10-KFY2019

We may selectively pursue strategic acquisitions and other investments, such as our acquisition of Advantor in July 2019.

10-KFY2019
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

A&D Components

Market spend (2023–2025)
$32.8B
Market spend (2020–2022)
$12.9B
Recent vs prior
+153%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

9.9×EV / EBITDA

VVX trades at a -14.6-turn discount to the A&D Components peer median of 24.6×.

EV / Revenue
0.6×
Net debt / EBITDA
-0.6×
Peer median EV / EBITDA
24.6×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
34.2×9.3×1.8×$4.6B$3.3B
31.5×2.4×-0.9×$92.2B$1.4B
29.1×6.6×-0.8×$48.4BN/A
20.1×10.1×5.7×$9.5B$3.5B
19.5×3.0×1.9×$90.4BN/A
16.0×2.6×-0.1×$22.5B$13.4B
V2X, Inc.VVX
9.9×0.6×-0.6×$4.7B$44M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in A&D Components. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)132026-02-23
  • 10-Q (quarterly)352026-05-04
  • 8-K (event)1472026-05-07
  • Proxy / DEF 14A302026-03-19
  • Activism (13D / DFAN / PREC)52024-11-18

Signals on file

  • elevated

    Auditor change

    2022-08-09

    1 Item 4.01 filing on file; certifying accountant change.

  • elevated

    Spin registration

    2014-09-08

    6 Form 10-12 filings on file; pre-spin registration.

  • elevated

    Activism on file

    2024-11-18

    5 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Spin/Carve candidate

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.