Voyager Technologies, Inc. (VOYG) vs V2X, Inc. (VVX)

Voyager Technologies, Inc. and V2X, Inc. are both Aerospace & Defense companies. V2X, Inc. is the larger, with a market value of $2.4B against $2.0B — 1.2× the size. Voyager Technologies, Inc. has negative trailing earnings, so its P/E is not meaningful; V2X, Inc. trades at 26.0×. V2X, Inc. grew revenue faster over the last twelve months: 13.0% against 10.6%. V2X, Inc. has the higher net margin (1.88% vs −78.6%) and the higher return on invested capital (6.51% vs −21.3%). Across the 17 metrics below, V2X, Inc. leads on 14 and Voyager Technologies, Inc. on 3.

Valuation

Metric VOYG VVX Aerospace & Defense median
P/E n/m 25.96 33.00
P/S 10.53 0.49 3.63
P/B 4.87 2.10 3.24
Price to free cash flow n/m 16.99 34.01
EV/EBITDA n/m 9.91 18.69
EV/Sales 11.05 0.66 3.94
Earnings yield (7.46%) 3.85% 1.31%
Free cash flow yield (13.32%) 5.88% 0.00%

Profitability

Metric VOYG VVX Aerospace & Defense median
Gross margin 10.90% 8.47% 25.48%
Operating margin (88.46%) 4.19% 4.54%
Net margin (78.61%) 1.88% 2.22%
Free cash flow margin (140.23%) 2.86% 0.00%
Return on equity (29.16%) 8.35% 6.43%
Return on assets (16.16%) 2.90% 2.70%
Return on invested capital (21.31%) 6.51% 1.56%

Growth

Metric VOYG VVX Aerospace & Defense median
Revenue growth (TTM) 10.63% 12.99% 18.43%
EPS growth (last fiscal year) 58.77% 126.85% —
Revenue growth, 5-year CAGR — 26.27% 9.62%
Net income growth, 5-year CAGR — 16.08% 0.00%

Health

Metric VOYG VVX Aerospace & Defense median
Debt to equity 1.19 0.92 0.24
Current ratio 3.80 1.32 2.72
Net debt to EBITDA 0.49 2.28 1.12

Dividend

Metric VOYG VVX Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio — 0.00 0.00

Size

Metric VOYG VVX Aerospace & Defense median
Market cap 1.95b 2.39b 2.52b

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