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VTMX

Corporación Inmobiliaria Vesta, S.A.B. de C.V.

VTMX

Corporación Inmobiliaria Vesta, S.A.B. de C.V. • NYSE
$31.11 ▼ -0.67% (-0.21)
Market Cap $2.63 B
52w High $31.64
52w Low $21.30
Dividend Yield 0.71%
P/E 45.75
Volume 32.51K
Outstanding Shares 84.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $73.732M ▲ $0 ▼ $25.004M ▼ 33.911% ▼ $0.3 ▼ $52.986M ▲
Q2-2025 $67.277M ▲ $8.441M ▲ $27.719M ▲ 41.202% ▲ $0.33 ▲ $0
Q1-2025 $67.1M ▲ $8.3M ▼ $14.9M ▲ 22.206% ▲ $0.17 ▲ $0
Q4-2024 $65.032M ▲ $209.063M ▲ $-62.809M ▼ -96.581% ▼ $-0.73 ▼ $0 ▼
Q3-2024 $62.537M $5.737M $51.042M 81.619% $0.6 $74.326M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $587.071M ▲ $4.601B ▲ $2.028B ▲ $2.573B ▲
Q2-2025 $65.236M ▲ $4.016B ▲ $1.473B ▲ $2.543B ▲
Q1-2025 $48.685M ▼ $3.888B ▼ $1.381B ▲ $2.506B ▼
Q4-2024 $184.107M ▼ $3.958B ▲ $1.361B ▲ $2.597B ▼
Q3-2024 $281.2M $3.93B $1.239B $2.692B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25.004M ▼ $49.891M ▼ $-54.108M ▲ $528.44M ▲ $521.835M ▲ $49.891M ▼
Q2-2025 $28.043M ▲ $50.028M ▲ $-112.921M ▼ $79.31M ▲ $16.551M ▲ $50.285M ▲
Q1-2025 $14.825M ▲ $19.099M ▼ $-58.577M ▲ $-97.123M ▼ $-135.422M ▼ $18.366M ▼
Q4-2024 $-61.999M ▼ $35.856M ▼ $-83.63M ▼ $-53.333M ▲ $-97.117M ▼ $35.272M ▼
Q3-2024 $62.668M $41.527M $-42.017M $-103.871M $-95.777M $41.538M

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed at a steady pace over the past few years, showing that demand for Vesta’s industrial properties continues to grow. Profitability looks strong: the company keeps a large share of its rental income after costs, and operating profits have risen in line with revenue. Net income has been very healthy, though it has bounced around a bit from year to year, which is common in real estate due to revaluations and one‑off items. Overall, the income statement tells a story of a mature, profitable landlord with solid growth, but with earnings that can be somewhat uneven from period to period.

Balance Sheet

Balance Sheet The balance sheet shows a business that has been expanding its asset base while steadily building shareholders’ equity. Total properties and other assets have grown each year, and equity has risen faster than debt, which points to a gradually stronger capital position. Debt levels have stayed fairly stable in absolute terms, meaning leverage has eased relative to the size of the company. Cash holdings have moved up and down, but not in a way that suggests stress. Overall, the financial structure looks balanced for a real estate developer, with a meaningful but not excessive use of borrowing.

Cash Flow

Cash Flow Vesta consistently generates positive cash flow from its operations, which is important for a property owner that relies on recurring rental income. Operating and free cash flow track each other closely, suggesting limited reported capital spending in the period shown, even as the company grows through development and acquisitions. Cash inflows from the core business are smaller than accounting profits, which can reflect the timing of development spending, tenant incentives, and non‑cash valuation gains that boost earnings but not cash. Still, the pattern points to a business that can largely fund itself, while investors should keep in mind that development-heavy models can require lumpier cash needs over time.

Competitive Edge

Competitive Edge Vesta holds a strong position in Mexico’s industrial real estate market. Its portfolio is concentrated in key manufacturing and logistics corridors, which makes its parks attractive to global companies looking to serve North American supply chains. The tenant base is broad and includes many blue‑chip names across several industries, reducing reliance on any single sector or client. High switching costs for tenants—who face major disruption if they move facilities—support long lease relationships and recurring income. The company also benefits from powerful structural trends such as nearshoring and e‑commerce growth. Main risks around its position include macroeconomic conditions in Mexico and North America, competition for prime land, and the need to keep its properties technologically and environmentally competitive.

Innovation and R&D

Innovation and R&D Although this is not a traditional technology company, Vesta is unusually active in innovation for a real estate developer. It focuses on “Smart Parks” that integrate energy‑efficient design, solar power, water‑saving systems, and smart‑building technology. The company uses data and, in some cases, artificial intelligence to improve property management and reduce operating costs for tenants. Its sustainability framework and building manuals guide eco‑efficient construction and support green certifications, which can be a differentiator when dealing with multinational tenants and ESG‑focused investors. The long‑term “Route 2030” plan aims to deepen digital tools, expand smart parks, and raise environmental standards, but successful execution will depend on disciplined capital allocation and the ability to keep technology and tenant needs aligned over time.

Summary

Vesta’s recent financial record shows a combination of steady growth and strong profitability, supported by a growing portfolio of industrial properties and a strengthening equity base. Cash generation from operations is consistently positive, though not as strong as accounting earnings, which is typical for a developer and worth monitoring as the company executes its long‑term plan. Competitively, Vesta appears well positioned to benefit from nearshoring and e‑commerce through its high‑quality, well‑located parks and diversified tenant roster. Its emphasis on smart, sustainable industrial parks and digital tools gives it a modern edge in a traditionally slow‑moving sector. The main uncertainties revolve around real estate cycles, regional economic conditions, and the challenge of delivering on its ambitious growth and sustainability targets while maintaining financial discipline.

NEWS

October 23, 2025 · 5:14 PM UTC

Corporación Inmobiliaria Vesta Reports Third Quarter 2025 Earnings Results

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October 2, 2025 · 5:00 PM UTC

Vesta Announces Third Quarter 2025 Earnings Conference Call and Webcast

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September 30, 2025 · 4:49 PM UTC

Vesta Successfully Closes US$ 500 Million Bond Transaction

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September 25, 2025 · 8:13 AM UTC

Vesta Announces Pricing of US$500 Million Offering of Senior Notes due 2033

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September 22, 2025 · 8:23 AM UTC

Vesta Announces Proposed Offering of Senior Notes

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