Corporación Inmobiliaria Vesta, S.A.B. de C.V.(VTMX)Earnings, Financials & Key Ratios

VTMX•NYSE•REIT / Real Estate

12.1× P/E·Price updated Jun 19, 2026

SectorReal Estate IndustryReal Estate Development Sub-IndustryCommercial and Industrial Property Developers

AboutCorporación Inmobiliaria Vesta, S.A.B. de C.V., together with its subsidiaries, acquires, develops, manages, operates, and leases industrial buildings and distribution centers in Mexico. The company was incorporated in 1998 and is headquartered in Mexico City, Mexico.Show more

Revenue$291M+15.8%
FFO$244M+9.2%
FFO/Share2.84+12.0%
FFO Payout28.04%-1.0%
FFO per Share2.84+12.0%
NOI Margin89.06%-0.7%
FFO Margin84%-5.7%
ROE9.08%+3.8%
ROA5.71%-0.5%

VTMX Key Insights

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Strong 5Y profit CAGR of 29.4%
✓FFO growing 8.9% TTM
✓Sustainable FFO payout ratio of 28.0%
✓High NOI margin of 89.1%
✓Healthy dividend yield of 2.4%
✓Share count reduced 2.5% through buybacks

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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VTMX Price & Volume

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) stock price & volume — 10-year historical chart

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VTMX Growth Metrics

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.99%

5 Years14.19%

3 Years17.79%

TTM14.9%

Profit CAGR

10 Years-

5 Years29.37%

3 Years-0.13%

TTM8.86%

EPS CAGR

10 Years-

5 Years18.47%

3 Years-7.17%

TTM-87.64%

Return on Capital

10 Years7.14%

5 Years5.28%

3 Years5.35%

Last Year5.32%

VTMX Recent Earnings

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 8/12 qtrs (67%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

Apr 23, 2026

Metric

Actual

Est

EPS

$1.25+212.5%

$0.40

Rev

$77M-0.1%

$77M

Q1 2026

Feb 19, 2026

Metric

Actual

Est

EPS

$2.01+306.3%

$0.49

Rev

$70M-94.5%

$1.3B

Q4 2025

Oct 23, 2025

Metric

Actual

Est

EPS

$0.29-42.0%

$0.50

Rev

$74M-94.3%

$1.3B

Q3 2025

Jul 24, 2025

Metric

Actual

Est

EPS

$0.32-36.0%

$0.50

Rev

$69M-95.1%

$1.4B

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 23, 2026	$1.25vs $0.40+212.5%	$77Mvs $77M-0.1%
Q1 2026	Feb 19, 2026	$2.01vs $0.49+306.3%	$70Mvs $1.3B-94.5%
Q4 2025	Oct 23, 2025	$0.29vs $0.50-42.0%	$74Mvs $1.3B-94.3%
Q3 2025	Jul 24, 2025	$0.32vs $0.50-36.0%	$69Mvs $1.4B-95.1%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
PLDPrologis, Inc.Direct Competitor	134.64B	140.54	39.70	7.18%	37.86%	5.78%	0.61
EGPEastGroup Properties, Inc.Direct Competitor	10.75B	199.97	41.06	12.97%	39.7%	8.37%	0.50
STAGSTAG Industrial, Inc.Direct Competitor	7.23B	37.80	25.89	10.14%	28.26%	6.8%	0.90
FRFirst Industrial Realty Trust, Inc.Direct Competitor	8.19B	61.80	33.05	8.58%	45.99%	12.35%	0.93
REXRRexford Industrial Realty, Inc.Direct Competitor	7.87B	33.12	38.51	7.13%	21.29%	2.34%	0.40
LXPLXP Industrial TrustDirect Competitor	3.14B	53.18	29.22	-2.3%	27.02%	4.57%	0.67
TRNOTerreno Realty CorporationDirect Competitor	6.84B	64.35	16.42	24.51%	86.52%	10.36%	0.23
NNNNNN REIT, Inc.Product Competitor	8.56B	45.00	21.74	6.55%	41.38%	8.81%	1.09

Compare VTMX vs Peers

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PLD

Most directly comparable listed peer for VTMX.

Scale Benchmark

vs CAT

Larger-name benchmark to compare VTMX against a more recognizable public peer.

Peer Set

Compare Top 5

vs PLD, EGP, STAG, FR

VTMX Income Statement

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Revenue	109.43M	132.67M	144.37M	149.86M	160.79M	178.03M	214.47M	251.29M	290.98M
Revenue Growth %	20.9%	21.24%	8.82%	3.8%	7.29%	10.72%	20.47%	17.17%	15.79%
Property Operating Expenses	4.99M	5.68M	8.14M	10.15M	10.73M	11.42M	18.24M	25.9M	31.83M
Net Operating Income (NOI)	104.43M▲ 0%	126.99M▲ 21.6%	136.22M▲ 7.3%	139.7M▲ 2.6%	150.06M▲ 7.4%	166.6M▲ 11.0%	196.23M▲ 17.8%	225.39M▲ 14.9%	259.15M▲ 15.0%
NOI Margin %	95.44%	95.72%	94.36%	93.22%	93.33%	93.58%	91.5%	89.69%	89.06%
Operating Expenses	13.61M	16.56M	19.13M	139.7M	21.4M	24.27M	196.23M	32.63M	35.68M
G&A Expenses	4.38M	5.24M	4.29M	17.18M	2.5M	2.8M	30.14M	34.18M	0
EBITDA	177.59M	163.77M	225.86M	168.03M	130.3M	143.8M	184.33M	194.17M	225.2M
EBITDA Margin %	162.29%	123.45%	156.45%	112.13%	81.04%	80.77%	85.95%	77.27%	77.39%
Depreciation & Amortization	356.73K	573.18K	1.49M	1.48M	1.6M	1.46M	1.58M	1.41M	1.73M
D&A / Revenue %	0.33%	0.43%	1.04%	0.99%	1%	0.82%	0.74%	0.56%	0.59%
Operating Income	177.23M▲ 0%	163.2M▼ 7.9%	224.36M▲ 37.5%	0▼ 100.0%	128.7M▲ 0%	142.33M▲ 10.6%	182.75M▲ 28.4%	192.76M▲ 5.5%	223.47M▲ 15.9%
Operating Margin %	161.96%	123.01%	155.41%	0%	80.05%	79.95%	85.21%	76.71%	76.8%
Interest Expense	19.67M	35.16M	39.16M	39.05M	50.26M	46.4M	46.31M	0	56.41M
Interest Coverage	9.01x	4.64x	5.73x	4.26x	5.98x	7.29x	9.24x	-	5.16x
Non-Operating Income	0	0	0	-166.56M	-172M	-194.37M	-263.23M	0	-67.66M
Pretax Income	157.56M▲ 0%	128.04M▼ 18.7%	185.2M▲ 44.6%	127.5M▼ 31.2%	256.03M▲ 100.8%	291.85M▲ 14.0%	381.62M▲ 30.8%	424.41M▲ 11.2%	234.72M▼ 44.7%
Pretax Margin %	143.99%	96.51%	128.29%	85.09%	159.24%	163.94%	177.94%	168.89%	80.67%
Income Tax	31.53M	34.98M	50.59M	60.55M	82.09M	48.22M	64.98M	201.98M	-7.96M
Effective Tax Rate %	20.01%	27.32%	27.32%	47.49%	32.06%	16.52%	17.03%	47.59%	-3.39%
Net Income	126.03M▲ 0%	93.06M▼ 26.2%	134.61M▲ 44.6%	66.96M▼ 50.3%	173.94M▲ 159.8%	243.62M▲ 40.1%	316.64M▲ 30.0%	222.43M▼ 29.8%	242.68M▲ 9.1%
Net Margin %	115.17%	70.14%	93.24%	44.68%	108.18%	136.85%	147.64%	88.51%	83.4%
Net Income Growth %	179.55%	-26.16%	44.65%	-50.26%	159.79%	40.06%	29.97%	-29.75%	9.11%
Funds From Operations (FFO)	126.39M▲ 0%	93.63M▼ 25.9%	136.11M▲ 45.4%	68.43M▼ 49.7%	175.54M▲ 156.5%	245.09M▲ 39.6%	318.22M▲ 29.8%	223.84M▼ 29.7%	244.41M▲ 9.2%
FFO Margin %	115.5%	70.58%	94.28%	45.67%	109.18%	137.67%	148.37%	89.08%	84%
FFO Growth %	178.35%	-25.92%	45.36%	-49.72%	156.52%	39.62%	29.84%	-29.66%	9.19%
FFO per Share	2.07	1.56	2.32	1.19	2.53	3.53	4.14	2.53	2.84
FFO Payout Ratio %	30.94%	51.15%	28.98%	78.87%	31.54%	23.26%	18.7%	28.33%	28.04%
EPS (Diluted)	2.10▲ 0%	1.60▼ 23.8%	2.30▲ 43.7%	1.20▼ 47.8%	2.60▲ 116.7%	3.50▲ 34.6%	4.10▲ 17.1%	2.50▼ 39.0%	2.80▲ 12.0%
EPS Growth %	191.67%	-23.81%	43.75%	-47.83%	116.67%	34.62%	17.14%	-39.02%	12%
EPS (Basic)	2.10	1.60	2.30	1.20	2.70	3.60	4.20	2.60	2.90
Diluted Shares Outstanding	60.99M	59.99M	58.72M	57.36M	69.29M	69.43M	76.88M	88.33M	86.11M

VTMX Balance Sheet

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Assets	1.83B	1.99B	2.09B	2.25B	2.76B	2.95B	3.79B	3.96B	4.54B
Asset Growth %	22.07%	8.84%	5%	7.66%	22.44%	7%	28.41%	4.36%	14.78%
Real Estate & Other Assets	1.71B	1.89B	1.99B	2.11B	2.27B	2.75B	3.22B	257.96M	10.22M
PP&E (Net)	1.87M	2.49M	4.17M	3.51M	3.46M	2.86M	3.38M	3.7B	3.68M
Investment Securities	0	0	0	0	0	0	0	0	1000K
Total Current Assets	123.95M	100.22M	95.77M	142.87M	481.72M	202.23M	566.43M	0	394.86M
Cash & Equivalents	90.42M	64.43M	75.03M	119.73M	452.8M	139.06M	501.09M	184.11M	336.91M
Receivables	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	586.26K	49.38K	31.72K	810.34K	19.08K	634.03K	1.64M	-242.43M	0
Intangible Assets	0	0	0	0	0	0	0	0	0
Total Liabilities	809.76M	940.38M	982.57M	1.15B	1.31B	1.31B	1.31B	1.36B	1.79B
Total Debt	581.99M	699.8M	715.59M	840.49M	934.91M	932M	916.08M	847.54M	1.28B
Net Debt	491.58M	635.36M	640.56M	720.76M	482.11M	792.95M	414.99M	663.44M	940.59M
Long-Term Debt	581.99M	695.28M	713.63M	837.84M	930.65M	925.87M	845.57M	797.13M	1.27B
Short-Term Borrowings	0	4.51M	794.9K	1.92M	2.88M	4.63M	69.61M	50.26M	2.42M
Capital Lease Obligations	0	0	1.16M	731.28K	1.38M	1.5M	897.65K	149.73K	814.76K
Total Current Liabilities	12.02M	16.69M	12.68M	28.45M	67.23M	67.94M	147.57M	90.82M	2.42M
Accounts Payable	4.08M	2.79M	2.54M	1.83M	3.01M	16.63M	13.19M	0	0
Deferred Revenue	0	13.05M	13.26M	13.92M	15.87M	18.33M	25.68M	0	0
Other Liabilities	0	0	0	4.13M	0	348.28K	9.23M	0	135.95M
Total Equity	1.02B▲ 0%	1.05B▲ 3.1%	1.11B▲ 5.4%	1.11B▼ 0.2%	1.45B▲ 31.1%	1.64B▲ 12.8%	2.49B▲ 51.7%	2.6B▲ 4.4%	2.75B▲ 5.8%
Equity Growth %	6.56%	3.07%	5.45%	-0.22%	31.12%	12.81%	51.66%	4.43%	5.8%
Shareholders Equity	1.02B	1.05B	1.11B	1.11B	1.45B	1.64B	2.49B	2.6B	2.75B
Minority Interest	0	0	0	0	0	0	0	0	0
Common Stock	439.84M	435.61M	426.3M	422.44M	482.86M	480.62M	591.6M	585.44M	579.99M
Additional Paid-in Capital	327.27M	321.02M	303.74M	297.06M	466.23M	460.68M	934.94M	905.65M	884.19M
Retained Earnings	288.67M	333.83M	416.23M	429.05M	547.21M	733.41M	989.74M	1.15B	1.32B
Preferred Stock	0	0	0	47.87M	49.83M	0	0	0	0
Return on Assets (ROA)	7.56%	4.86%	6.59%	3.08%	6.94%	8.53%	9.39%	5.74%	5.71%
Return on Equity (ROE)	12.72%	8.97%	12.44%	6.03%	13.58%	15.75%	15.35%	8.75%	9.08%
Debt / Assets	31.77%	35.09%	34.18%	37.29%	33.88%	31.56%	24.16%	21.42%	28.12%
Debt / Equity	0.57x	0.66x	0.64x	0.76x	0.64x	0.57x	0.37x	0.33x	0.46x
Net Debt / EBITDA	2.77x	3.88x	2.84x	4.29x	3.70x	5.51x	2.25x	3.42x	4.18x
Book Value per Share	16.76	17.57	18.92	19.33	20.98	23.62	32.35	29.40	31.91

VTMX Cash Flow Statement

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	82.16M	87.27M	103.35M	100.57M	107.17M	57.73M	144.8M	87.26M	161.89M
Operating CF Growth %	20.34%	6.22%	18.42%	-2.68%	6.56%	-46.13%	150.82%	-39.74%	85.52%
Operating CF / Revenue %	75.09%	65.78%	71.59%	67.11%	66.65%	32.43%	67.51%	34.73%	55.64%
Net Income	157.56M	128.04M	185.2M	127.5M	256.03M	291.85M	381.62M	222.43M	242.68M
Depreciation & Amortization	356.73K	573.18K	1.49M	1.48M	1.6M	1.46M	1.59M	1.41M	1.73M
Stock-Based Compensation	1.48M	1.94M	2.79M	3.68M	5.55M	6.65M	8M	0	0
Other Non-Cash Items	-69.58M	34.72M	-83.14M	-30.24M	50.19M	43.76M	-252.43M	-135.44M	-84.21M
Working Capital Changes	-7.65M	-13.36M	-3M	-1.85M	-1.61M	-41.52M	6.01M	-1.13M	1.68M
Cash from Investing	-196.48M	-138.71M	1.27M	-73.35M	16.71M	-254.67M	-223.07M	-225.73M	-336.87M
Acquisitions (Net)	0	0	0	0	0	0	0	0	0
Purchase of Investments	-64.81K	0	-80.57K	0	0	0	0	-230.19M	-341.55M
Sale of Investments	0	0	0	120.03K	684.94K	0	0	5.05M	5.52M
Other Investing	-196.15M	-137.51M	2.95M	-72.64M	16.25M	-254.45M	-220.99M	0	0
Cash from Financing	158.71M	26.61M	-94.6M	16.91M	212.54M	-119.78M	444.74M	-183.05M	326.53M
Dividends Paid	-39.11M	-47.99M	-39.44M	-53.98M	-55.37M	-57.02M	-59.51M	-63.41M	-68.55M
Common Dividends	-39.11M	-47.9M	-39.44M	-53.98M	-55.37M	-57.02M	-59.51M	-63.41M	0
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	-647.96K	-1000K	-1000K	1000K
Share Repurchases	-26.95M	-11.26M	-27.9M	-14.8M	0	-15.6M	0	-43.98M	-36.53M
Other Financing	-18.23M	-30.71M	-41.7M	-37.99M	-58.24M	-46.51M	-72.73M	-6.33M	-836.97K
Net Change in Cash	40.28M▲ 0%	-26.52M▼ 165.8%	10.58M▲ 139.9%	45.48M▲ 329.8%	332.28M▲ 630.6%	-313.67M▼ 194.4%	362.02M▲ 215.4%	-317.05M▼ 187.6%	152.8M▲ 148.2%
Exchange Rate Effect	-4.11M	-1.7M	566.65K	1.34M	-4.15M	3.05M	-4.45M	4.47M	1.26M
Cash at Beginning	51.46M	91.74M	65.22M	75.8M	121.28M	453.56M	139.88M	501.16M	184.11M
Cash at End	91.74M	65.22M	75.8M	121.28M	453.56M	139.88M	501.9M	184.11M	336.91M
Free Cash Flow	81.9M▲ 0%	86.08M▲ 5.1%	101.74M▲ 18.2%	99.75M▼ 2.0%	106.95M▲ 7.2%	57.51M▼ 46.2%	142.72M▲ 148.2%	86.67M▼ 39.3%	161.05M▲ 85.8%
FCF Growth %	21.23%	5.09%	18.19%	-1.95%	7.22%	-46.23%	148.17%	-39.28%	85.83%
FCF / Revenue %	74.85%	64.88%	70.47%	66.56%	66.52%	32.3%	66.55%	34.49%	55.35%

VTMX Key Ratios

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	0.72	2.07	1.56	2.32	1.19	2.53	3.53	4.14	2.53	2.84
FFO Payout Ratio	63.49%	30.94%	51.15%	28.98%	78.87%	31.54%	23.26%	18.7%	28.33%	28.04%
NOI Margin	95.16%	95.44%	95.72%	94.36%	93.22%	93.33%	93.58%	91.5%	89.69%	89.06%
Net Debt / EBITDA	2.92x	2.77x	3.88x	2.84x	4.29x	3.70x	5.51x	2.25x	3.42x	4.18x
Debt / Assets	22.71%	31.77%	35.09%	34.18%	37.29%	33.88%	31.56%	24.16%	21.42%	28.12%
Interest Coverage	6.04x	9.01x	4.64x	5.73x	4.26x	5.98x	7.29x	9.24x	-	5.16x
Book Value / Share	15.22	16.76	17.57	18.92	19.33	20.98	23.62	32.35	29.4	31.91
Revenue Growth	15.21%	20.9%	21.24%	8.82%	3.8%	7.29%	10.72%	20.47%	17.17%	15.79%

VTMX Frequently Asked Questions

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) reported $287.8M in revenue for fiscal year 2025. This represents a 473% increase from $50.2M in 2011.

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) grew revenue by 15.8% over the past year. This is strong growth.

Yes, Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) is profitable, generating $242.1M in net income for fiscal year 2025 (83.4% net margin).

Dividend & Returns

Yes, Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) pays a dividend with a yield of 2.35%. This makes it attractive for income-focused investors.

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) has a return on equity (ROE) of 9.1%. This is below average, suggesting room for improvement.

Industry Metrics

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (VTMX) generated Funds From Operations (FFO) of $243.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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Corporación Inmobiliaria Vesta, S.A.B. de C.V.(VTMX)Earnings, Financials & Key Ratios

VTMX•NYSE•REIT / Real Estate

12.1× P/E·Price updated Jun 19, 2026

SectorReal Estate IndustryReal Estate Development Sub-IndustryCommercial and Industrial Property Developers

Revenue$291M+15.8%
FFO$244M+9.2%
FFO/Share2.84+12.0%
FFO Payout28.04%-1.0%
FFO per Share2.84+12.0%
NOI Margin89.06%-0.7%
FFO Margin84%-5.7%
ROE9.08%+3.8%
ROA5.71%-0.5%