Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX)

Neutral

Insufficient data to determine institutional momentum.

Data as of Q3 2026

FY2025 basis· reit

$36.09▼ 0.55%

EOD close · as of 2026-10-30

Market Cap

$3.35B

Enterprise Value

$3.35B

P/E

13.8×

Revenue (FY)

—

Rev. growth

—

Gross margin

—

Net margin

—

ROIC

—

Net debt / EBITDA

n/a for a REIT

Revenue—

—

Net Income· FY2025$241.9M

Free Cash Flow—

—

Deep analysis

Quality of the business

What backs the price

Is the profit real, and how strong is the balance sheet?

Income statement

How a revenue dollar becomes profit

FY2025 · every deduction from revenue to net income

Not enough detail.

Returns

Why ROE is —

DuPont — the three levers

Net margin

—

profit / rev

Asset turns

—

rev / assets

Leverage

—

assets / year-end equity

ROE

—

on year-end equity

ROIC is not available for this period, so the share of ROE attributable to leverage cannot be separated out.

Leverage & liquidity

Debt structure

What the company owes vs. what it holds

Total Debt

—

Cash & Equivalents

—

Net Debt

—

Net debt / EBITDA—

This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.

Operating leverage

How profit responds to sales

Latest year: profit growth vs revenue growth

Revenue Δ

—

Op. income Δ

—

Op. leverage

—

Operating leverage needs meaningful revenue change.

Operating leverage

Common-size income statement

Each line as % of revenue — the trend in color

% of revenue	FY2021	FY2022	FY2023	FY2024	FY2025

Green = margin-favorable vs the row's own range · red = unfavorable.

Track record · FY2021 → FY2025

How the ratios & debt developed

The metrics that matter, over time

ROE

—

— · latest

—

Net margin

—

— · latest

—

ROIC

—

— · latest

—

Gross margin

—

— · latest

—

Current ratio

—

— · latest

—

FCF margin

—

— · latest

—

Free cash flow

—

— · latest

—

Institutional ownership: 8 holders · 0% of shares · 55th percentile crowding — Insufficient data to determine institutional momentum. (see the 13F tab)

A 30-second read on VTMX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.

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Financials

$36.09▼ 0.55%

EOD close · as of 2026-10-30

Market Cap

$3.35B

Enterprise Value

$3.35B

Revenue → Profit Flow

How a revenue dollar becomes profit — FY2025

Not enough income-statement detail for a flow diagram.

No data reported for this breakdown.

Each value shows its share of revenue below it (common-size).

Line Item	FY2025	FY2024	FY2023	FY2022	FY2021
Selling, General & Admin	$35.5M	$34.2M	$31.7M	$24.4M	$21.4M
Interest Expense	$53.1M	$41.9M	$44.3M	$44.9M	$45.5M
Net Income	$241.9M	$223.3M	$316.6M	$243.6M	$173.9M

Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.

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Is the business good?

Can't say

No positive operating income in the last three years, so there is no return on capital to compare against its cost.

Not enough history to draw the spread — it needs at least two fiscal years with a computable ROIC and a cost of capital.

Margins need at least two fiscal years with a reported revenue and cost base.

The other side

No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.

Missing from our data, so excluded from this answer: tax_rate.

Basis: FY2025Source: SEC EDGAR XBRL

Are the earnings real?

Can't say

Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.

The cash bridge needs net income and operating cash flow for the same year — one of them has no value on file here.

The other side

No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.

Missing from our data, so excluded from this answer: 3 years of cash flow.

Basis: FY2025Source: SEC EDGAR XBRL

Can it survive?

Can't say

Leverage is not measurable this way for a reit.

A stress curve needs EBIT and a reported interest expense — one of them is not available for this company.

The other side

Depreciation swamps reported earnings for a property owner — which is why FFO exists. EBITDA leverage and a net-income DCF both mislead here.

Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.

Basis: FY2025Source: SEC EDGAR XBRL

What's priced in?

Can't say

No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.

Comparing the market's assumption against the record needs a solvable growth requirement and at least two years of free cash flow growth.

P / E

not reported for this company

P / S

not reported for this company

EV / EBITDA

not reported for this company

P / B

not reported for this company

VTMX cohort median p25–p7517 peersvalues clipped at p1/p99 before rankingeach row scaled to its own range

The other side

No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).

Missing from our data, so excluded from this answer: free_cash_flow.

Basis: FY2025Source: SEC EDGAR XBRL

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VTMX vs. Real Estate peers

Ranked against 17 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.

Where it ranks

top thirdmiddlebottompeer median

ValuationCheaper than peers scores higher

P / E

VTMX — · med 34.0× · p25–p75 17.8×–70.1×

not enough peer data

—

P / S

VTMX — · med 5.3× · p25–p75 0.9×–8.8×

not enough peer data

—

EV / EBITDA

VTMX — · med 11.6× · p25–p75 9.2×–14.0×

not enough peer data

—

P / B

VTMX — · med 1.6× · p25–p75 0.8×–2.3×

not enough peer data

—

GrowthLatest fiscal-year revenue vs prior year

Revenue growth (YoY)

VTMX — · med 10.1% · p25–p75 4.0%–23.5%

not enough peer data

—

ProfitabilityMargins vs the sector

Gross margin

VTMX — · med 24.6% · p25–p75 21.3%–32.8%

not enough peer data

—

Operating margin

VTMX — · med 6.4% · p25–p75 -8.0%–21.5%

not enough peer data

—

Net margin

VTMX — · med 7.8% · p25–p75 1.8%–31.4%

not enough peer data

—

FCF margin

VTMX — · med 3.7% · p25–p75 -33.0%–37.2%

not enough peer data

—

Returns on capitalHow hard the capital works

Return on equity

VTMX — · med 6.8% · p25–p75 0.8%–12.0%

not enough peer data

—

Return on invested capital

VTMX — · med 5.2% · p25–p75 0.4%–7.1%

not enough peer data

—

LeverageLess debt scores higher

Net debt / EBITDA

VTMX — · med 2.0× · p25–p75 0.1×–8.6×

not enough peer data

—

13F convictionInstitutional breadth & ownership

13F holders

VTMX 8 · med 38 · p25–p75 21–62

18th pct

Institutional ownership

VTMX 0.0% · med 1.4% · p25–p75 0.7%–3.0%

8th pct

Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.

Peer table

Click a column to sort · latest FY

Company	Mkt cap ▼	P/E	EV/EBITDA	P/S	Rev gr	Gross	Net	ROE	ROIC	Net D/EBITDA	13F
CBRECBRE GROUP, INC.	$37.1B	33.4×	—	0.9×	13.4%	18.7%	2.9%	13.0%	7.1%	—	275
TRNOTerreno Realty Corp	$7.2B	16.8×	—	15.0×	24.5%	—	84.6%	9.7%	7.9%	—	72
FSVFirstService Corp	$6.3B	45.6×	13.8×	1.1×	5.4%	—	3.5%	13.9%	7.8%	1.8×	47
CIGIColliers International…	$4.9B	47.6×	10.1×	0.9×	15.3%	—	4.0%	14.6%	7.1%	2.3×	21
CURBCurbline Properties Co…	$3.5B	77.7×	—	19.1×	51.3%	—	21.8%	2.1%	1.7%	—	48
VTMXVesta Real Estate Corp…	$3.4B	—	—	—	—	—	—	—	—	—	8
CWKCushman & Wakefield Lt…	$3.1B	34.5×	9.1×	0.3×	8.9%	—	0.9%	4.5%	1.9%	3.5×	3
UEUrban Edge Properties	$2.5B	26.6×	—	5.3×	6.1%	—	19.8%	6.8%	6.8%	—	45
GTYGETTY REALTY CORP /MD/	$1.9B	20.8×	—	8.5×	9.0%	—	35.7%	7.4%	3.8%	—	66
IIPRINNOVATIVE INDUSTRIAL …	$1.6B	13.6×	9.7×	5.9×	-13.8%	—	44.5%	6.4%	5.3%	1.8×	68
FORForestar Group Inc.	$1.3B	7.6×	—	0.8×	10.1%	21.9%	10.1%	9.5%	6.5%	—	29
HPPHudson Pacific Propert…	$602M	—	1.4×	0.7×	-1.3%	48.5%	-71.3%	-19.9%	-19.9%	-0.4×	32
AHRTAH Realty Trust, Inc.	$456M	—	14.0×	2.2×	2.7%	—	2.7%	0.9%	0.3%	10.3×	43
TRCTEJON RANCH CO	$453M	—	—	9.1×	18.4%	29.2%	0.2%	0.0%	0.0%	—	26
SKYHSky Harbour Group Corp	$394M	110.7×	—	14.3×	86.6%	—	68.3%	10.9%	5.2%	—	17
FRPHFRP HOLDINGS, INC.	$364M	105.2×	30.2×	8.5×	2.6%	—	7.8%	0.8%	0.5%	10.5×	22
NTPIFNAM TAI PROPERTY INC.	$268M	—	—	5.6×	64.5%	25.7%	0.2%	0.1%	0.0%	—	—
CHCIComstock Holding Compa…	$192M	—	13.1×	3.1×	22.6%	23.5%	27.1%	24.4%	24.4%	-2.6×	5

Peers = companies sharing VTMX's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.

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Open-market buys

$0 · 0 holders

Discretionary sales

$13.2m · 16 holders

10b5-1 plan sales

$0 · scheduled in advance

Filed late

15%

7 of 47 filings

0 open-market purchases and 29 discretionary sales against the share price · hover a marker

2025-10-31$29.83 – $36.342026-10-23

Shares held by reporting insiders4 → 16 insiders reporting — no comparable change

2026-05-20 · 23,207,5382026-10-29 · 27,621,621 (16 insiders)

Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.

Date	Insider	What it was	Shares	Price	Value
2026-10-29	2 co-filers Chief Executive Officer	Open-market sale	300,000	$3.65	$1.1m
2026-10-29	2 co-filers Chief Executive Officer	Open-market sale	50,000	$3.65	$183k
2026-10-28	Sottil Achutegui Juan Felipe CHIEF FINANCIAL OFFICER	Open-market sale	313,839	$3.64	$1.1m
2026-09-04	Berho Carranza Diego Chief Portfolio Officer

How this is measured

Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.

Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.

Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.

The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.

“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.

Insider activity is descriptive. Nothing here is investment advice.

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Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX)

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is —

Debt structure

How profit responds to sales

Common-size income statement

How the ratios & debt developed

Financials

Revenue → Profit Flow

Reverse DCF — what growth does the price assume?

Is the business good?

Are the earnings real?

Can it survive?

What's priced in?

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Debt & Leverage

Capital structure over time

Debt servicing

Liquidity

Short-term vs long-term debt

Performance vs. S&P 500

Hover the chart to read any quarter

Annual return vs the market

Cumulative lead over the S&P 500

Drawdown from peak · max -41%

VTMX vs. Real Estate peers

Where it ranks

Peer table

Ownership Map

Buy / Sell Volume by Quarter

Institutional Trends (8 Quarters)

Institutional Holders

Institutional Holders

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Financials

Revenue → Profit Flow

Reverse DCF — what growth does the price assume?

Debt & Leverage

Capital structure over time

Debt servicing

Liquidity

Short-term vs long-term debt

VTMX vs. Real Estate peers

Where it ranks

Peer table

Buy / Sell Volume by Quarter

Institutional Trends (8 Quarters)

Ownership Map

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is —

Debt structure

How profit responds to sales

Common-size income statement

How the ratios & debt developed

Is the business good?

Are the earnings real?

Can it survive?

What's priced in?

Performance vs. S&P 500

Hover the chart to read any quarter

Annual return vs the market

Cumulative lead over the S&P 500

Drawdown from peak · max -41%