CORPORACIÓN INMOBILIARIA VESTA, S.A.B. DE C.V.

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

Equities

VESTA *

MX01VE0M0003

Real Estate Development & Operations

End-of-day quote Mexican S.E. Other stock markets 05/06/2026			5-day change	1st Jan Change
59.16 ^MXN	+0.20%		-2.86%	+7.39%

06-05	Vesta Real Estate Corporation Insider Sold Shares Worth $340,236, According to a Recent SEC Filing	MT
06-04	Vesta Real Estate Corporation Insider Sold Shares Worth $516,000, According to a Recent SEC Filing	MT

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Published financial data: CORPORACIÓN INMOBILIARIA VESTA, S.A.B. DE C.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	161M	178M	213M	252M	283M
Property Management Fee	-	-	1.02M	377K	31.44K
Other Revenues, Total	87.97K	-	-	-	11.54K
Total Revenues	161M	178M	214M	252M	283M
Property Expenses	10.73M	11.42M	18.24M	24.59M	28.28M
Selling General & Admin Expenses, Total	19.8M	24.41M	31.72M	34.18M	35.49M
Depreciation & Amortization - (IS) - (Collected)	1.6M	-	-	-	-
Other Operating Expenses	-	-	-	5.15M	3.52M
Total Operating Expenses	32.13M	35.84M	49.96M	63.92M	67.29M
Operating Income (REIT / Utility Template)	129M	142M	165M	188M	216M
Interest Expense, Total	-50.26M	-44.85M	-44.34M	-41.94M	-53.1M
Interest and Investment Income	76.87K	2.64M	9.41M	15.19M	5.27M
Net Interest Expenses	-50.19M	-42.21M	-34.92M	-26.75M	-47.83M
Currency Exchange Gains (Loss)	-1.11M	1.94M	8.91M	-10.84M	10.1M
Other Non Operating Income (Expenses)	27.8K	-587K	129K	1.99M	2.72M
EBT, Excl. Unusual Items	77.39M	101M	139M	153M	181M
Gain (Loss) on Sale of Assets	13.99M	5.03M	-462K	2.62M	-9.94K
Asset Writedown	165M	185M	243M	271M	52.08M
Insurance Settlements	-	-	-	-	969K
EBT, Incl. Unusual Items	256M	292M	382M	426M	234M
Income Tax Expense	82.09M	48.22M	64.98M	203M	-7.93M
Earnings From Continuing Operations	174M	244M	317M	223M	242M
Net Income to Company	174M	244M	317M	223M	242M
Net Income - (IS)	174M	244M	317M	223M	242M
Preferred Dividend and Other Adjustments	2.09M	-	-	-	-
Net Income to Common Incl Extra Items	172M	244M	317M	223M	242M
Net Income to Common Excl. Extra Items	172M	244M	317M	223M	242M
Per Share Items
Net EPS - Basic	0.25	0.36	0.42	0.26	0.28
Basic EPS - Continuing Operations	0.25	0.36	0.42	0.26	0.28
Basic Weighted Average Shares Outstanding	684M	683M	757M	871M	849M
Net EPS - Diluted	0.25	0.35	0.41	0.25	0.28
Diluted EPS - Continuing Operations	0.25	0.35	0.41	0.25	0.28
Diluted Weighted Average Shares Outstanding	693M	694M	769M	883M	861M
Normalized Basic EPS	0.07	0.09	0.11	0.11	0.13
Normalized Diluted EPS	0.07	0.09	0.11	0.11	0.13
Dividend Per Share	0.08	0.09	0.07	0.07	0.08
Payout Ratio	31.83	23.4	18.79	28.51	28.24
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	130M	143M	165M	189M	217M
EBITA	129M	142M	165M	188M	216M
EBIT	129M	142M	165M	188M	216M
Total Revenues (As Reported)	-	178M	214M	252M	283M
Effective Tax Rate - (Ratio)	32.06	16.52	17.03	47.59	-3.39
Current Domestic Taxes	-	41.98M	91.95M	31.89M	56.14M
Total Current Taxes	50.26M	41.98M	91.95M	31.89M	56.14M
Deferred Domestic Taxes	-	6.24M	-26.97M	171M	-64.07M
Total Deferred Taxes	31.83M	6.24M	-26.97M	171M	-64.07M
Normalized Net Income	48.37M	63.33M	86.64M	95.5M	113M
Interest on Long-Term Debt	50.26M	46.4M	46.31M	44.26M	56.23M
Supplemental Operating Expense Items
Marketing Expenses	872K	1.03M	948K	998K	840K
Selling and Marketing Expenses	872K	1.03M	948K	998K	840K
General and Administrative Expenses	18.93M	23.39M	30.77M	33.18M	34.65M
Maintenance & Repair Expenses, Total	2.07M	2.19M	2.82M	3.27M	2.87M
Stock-Based Comp., G&A Exp. (Total)	5.55M	6.65M	8M	8.98M	9.63M
Stock-Based Comp., Other (Total)	-	-	-	-	3.1M
Total Stock-Based Compensation	5.55M	6.65M	8M	8.98M	12.73M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	2.27B	2.74B	3.22B	3.7B	4.13B
Total Real Estate Assets	2.27B	2.74B	3.22B	3.7B	4.13B
Cash And Equivalents	453M	139M	501M	184M	337M
Accounts Receivable, Total	9.04M	7.69M	10.1M	4.68M	8.77M
Other Receivables	19.38M	30.09M	33.86M	53.65M	49.18M
Investment In Debt and Equity Securities	-	-	-	-	-
Restricted Cash	19.08K	90.22K	72.22K	128K	19.81K
Other Current Assets, Total	484K	25.31M	21.3M	1.31M	2.5M
Trading Asset Securities, Total	-	-	-	-	-
Other Long-Term Assets, Total	11.51M	9.6M	10.24M	14.5M	11.99M
Total Assets	2.76B	2.95B	3.79B	3.96B	4.54B
Liabilities
Current Portion of Long-Term Debt	2.88M	4.63M	69.61M	49.86M	1.78M
Current Portion of Leases	464K	606K	607K	408K	641K
Long-Term Debt	931M	926M	846M	797M	1.27B
Long-Term Leases	916K	898K	290K	150K	815K
Accounts Payable, Total	3.01M	24.52M	13.19M	14.19M	30.8M
Accrued Expenses, Total	19.09M	9M	10.23M	9.55M	17.32M
Current Income Taxes Payable	27.84M	14.82M	38.77M	647K	14.15M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	13.94M	14.36M	15.16M	16.17M	17.38M
Pension & Other Post Retirement Benefits	-	348K	1.52M	2.24M	3.66M
Deferred Tax Liability Non-Current	292M	300M	277M	443M	381M
Other Non Current Liabilities	15.87M	18.33M	33.39M	27.41M	53.44M
Total Liabilities	1.31B	1.31B	1.31B	1.36B	1.79B
Common Stock, Total	483M	481M	592M	585M	580M
Additional Paid In Capital	466M	461M	935M	906M	884M
Retained Earnings	547M	733M	990M	1.15B	1.32B
Comprehensive Income and Other	-42.68M	-34.92M	-29.31M	-42.32M	-37.16M
Total Common Equity	1.45B	1.64B	2.49B	2.6B	2.75B
Total Equity	1.45B	1.64B	2.49B	2.6B	2.75B
Total Liabilities And Equity	2.76B	2.95B	3.79B	3.96B	4.54B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	670M	661M	856M	830M	808M
ECS Total Common Shares Outstanding	670M	661M	856M	830M	808M
Book Value / Share	2.17	2.48	2.91	3.13	3.4
Tangible Book Value	1.45B	1.64B	2.49B	2.6B	2.75B
Tangible Book Value Per Share	2.17	2.48	2.91	3.13	3.4
Total Debt	935M	932M	916M	848M	1.28B
Net Debt	482M	793M	415M	664M	940M
Equity Method Investments, Total	-	-	-	-	3.53M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	-	87	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	1.98M	1.92M	2.54M	2.04M	1.03M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	174M	244M	317M	223M	242M
Depreciation, Depletion & Amortization	1.6M	1.46M	1.58M	1.42M	1.72M
Total Depreciation, Depletion & Amortization	1.6M	1.46M	1.58M	1.42M	1.72M
Amortization of Deferred Charges, Total	4.78M	1.54M	1.97M	2.32M	3.13M
(Gain) Loss On Sale of Asset - (CF)	-13.99M	-5.03M	462K	-2.62M	9.94K
Total Asset Writedown	-165M	-185M	-243M	-271M	-52.08M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-11.54K
Stock-Based Compensation (CF)	5.55M	6.65M	8M	8.98M	12.73M
Change in Accounts Receivable	-2.68M	1.35M	-2.41M	5.42M	-4.09M
Change in Accounts Payable	-230K	-1.62M	3.26K	-8.51M	-787K
Change In Income Taxes	-4.52M	-10.71M	-3.78M	-18.97M	5.29M
Change in Other Net Operating Assets (Collected)	5.81M	-30.54M	12.14M	20.92M	1.26M
Other Operating Activities	102M	36.49M	53.65M	168M	-1.83M
Cash from Operations	107M	57.73M	145M	130M	207M
Acquisition of Real Estate Assets, Total	-109M	-269M	-265M	-232M	-338M
Sale of Real Estate Assets, Total	125M	14.77M	42.06M	5.07M	5.5M
Net Sale / Acquisition of Real Estate Assets	15.95M	-255M	-223M	-227M	-332M
Investment in Marketable and Equity Securities, Total	685K	-	-	-	-3.52M
Other Investing Activities, Total	76.87K	-	-	-	-
Cash from Investing	16.71M	-255M	-223M	-227M	-336M
Long-Term Debt Issued, Total	350M	-	-	-	650M
Total Debt Issued	350M	-	-	-	650M
Long-Term Debt Repaid, Total	-253M	-648K	-17.4M	-70.4M	-214M
Total Debt Repaid	-253M	-648K	-17.4M	-70.4M	-214M
Issuance of Common Stock	229M	-	594M	-	-
Repurchase of Common Stock	-	-15.6M	-	-44.17M	-36.42M
Common Dividends Paid	-55.37M	-57.02M	-59.51M	-63.67M	-68.33M
Common & Preferred Stock Dividends Paid	-55.37M	-57.02M	-59.51M	-63.67M	-68.33M
Other Financing Activities, Total	-58.24M	-46.51M	-72.73M	-47.65M	-51.23M
Cash from Financing	213M	-120M	445M	-226M	280M
Foreign Exchange Rate Adjustments	-4.15M	3.05M	-4.45M	5.8M	1.73M
Net Change in Cash	332M	-314M	362M	-317M	153M
Supplemental Items
Cash Interest Paid	44.47M	44.84M	45.03M	42.09M	45.88M
Cash Income Tax Paid (Refund)	27.06M	55M	64.1M	75.01M	40.12M
Net Debt Issued / Repaid	96.94M	-648K	-17.4M	-70.4M	436M
Levered Free Cash Flow	92.11M	34.84M	105M	72.46M	157M
Unlevered Free Cash Flow	119M	61.33M	131M	96.35M	187M
Change In Net Working Capital	-31.4M	35.43M	-20.37M	31.21M	-38.39M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.21	3.11	3.05	3.04	3.18
Return on Total Capital	3.7	3.58	3.44	3.44	3.61
Return On Equity %	13.58	15.75	15.35	8.79	9.05
Return on Common Equity	13.41	15.75	15.35	8.79	9.05
Margin Analysis
Gross Profit Margin %	93.33	93.58	91.5	90.25	90.02
SG&A Margin	12.31	13.71	14.79	13.55	12.53
EBITDA Margin %	80.73	80.38	77.16	74.96	76.58
EBITA Margin %	80.02	79.87	76.71	74.67	76.24
EBIT Margin %	80.02	79.87	76.71	74.67	76.24
Income From Continuing Operations Margin %	108.18	136.85	147.64	88.51	85.41
Net Income Margin %	108.18	136.85	147.64	88.51	85.41
Net Avail. For Common Margin %	106.88	136.85	147.64	88.51	85.41
Normalized Net Income Margin	30.08	35.57	40.4	37.85	39.93
Levered Free Cash Flow Margin	57.29	19.57	48.94	28.72	55.4
Unlevered Free Cash Flow Margin	73.85	34.45	60.94	38.18	66.01
Asset Turnover
Asset Turnover	0.06	0.06	0.06	0.07	0.07
Fixed Assets Turnover	0.07	0.07	0.07	0.07	0.07
Receivables Turnover (Average Receivables)	20.87	21.28	24.11	34.14	42.11
Short Term Liquidity
Current Ratio	7.17	2.98	3.84	2.68	4.84
Quick Ratio	7.16	2.6	3.69	2.67	4.81
Operating Cash Flow to Current Liabilities	1.59	0.85	0.98	1.43	2.53
Days Sales Outstanding (Average Receivables)	17.49	17.15	15.14	10.72	8.67
Average Days Payable Outstanding	82.3	439.82	298.35	203.77	290.4
Long Term Solvency
Total Debt/Equity	64.32	56.84	36.84	32.63	46.46
Total Debt / Total Capital	39.14	36.24	26.92	24.6	31.72
LT Debt/Equity	64.09	56.52	34.01	30.7	46.37
Long-Term Debt / Total Capital	39	36.04	24.86	23.15	31.66
Total Liabilities / Total Assets	47.33	44.47	34.42	34.38	39.51
EBIT / Interest Expense	2.56	3.17	3.71	4.49	4.07
EBITDA / Interest Expense	2.59	3.2	3.75	4.53	4.1
(EBITDA - Capex) / Interest Expense	2.59	3.2	3.7	4.51	4.08
Total Debt / EBITDA	7.18	6.49	5.52	4.47	5.87
Net Debt / EBITDA	3.7	5.52	2.5	3.5	4.32
Total Debt / (EBITDA - Capex)	7.19	6.5	5.59	4.48	5.89
Net Debt / (EBITDA - Capex)	3.71	5.53	2.53	3.51	4.33
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.29	10.72	20.47	17.65	12.25
Gross Profit, 1 Yr. Growth %	7.42	11.02	17.78	16.06	11.96
EBITDA, 1 Yr. Growth %	6.33	10.24	15.65	16.44	14.67
EBITA, 1 Yr. Growth %	6.3	10.52	15.7	16.68	14.62
EBIT, 1 Yr. Growth %	6.3	10.52	15.7	16.68	14.62
Earnings From Cont. Operations, 1 Yr. Growth %	159.79	40.06	29.97	-29.46	8.31
Net Income, 1 Yr. Growth %	159.79	40.06	29.97	-29.46	8.31
Diluted EPS Before Extra, 1 Yr. Growth %	115.3	38.07	17.36	-38.59	11.07
Normalized Net Income, 1 Yr. Growth %	-5.78	30.93	36.8	10.23	18.52
Net Property, Plant and Equip., 1 Yr. Growth %	7.59	20.94	17.3	15.06	11.72
Accounts Receivable, 1 Yr. Growth %	42.1	-14.92	31.35	-53.66	87.35
Total Assets, 1 Yr. Growth %	22.44	7	28.41	4.37	14.77
Common Equity, 1 Yr. Growth %	31.12	12.81	51.66	4.44	5.79
Tangible Book Value, 1 Yr. Growth %	31.12	12.81	51.66	4.44	5.79
Cash From Operations, 1 Yr. Growth %	7.02	-46.51	122.03	-10.42	59.78
Capital Expenditures, 1 Yr. Growth %	-73.35	0.34	845.18	-71.26	40.19
Levered Free Cash Flow, 1 Yr. Growth %	66.3	-63.37	289.45	-29.69	116.51
Unlevered Free Cash Flow, 1 Yr. Growth %	50.95	-48.35	144.57	-25.19	94.03
Dividend Per Share, 1 Yr. Growth %	-14.37	5.73	-16.56	0	17.9
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.53	8.99	15.49	19.05	14.92
Gross Profit, 2 Yr. CAGR %	4.96	9.2	14.35	16.92	13.99
EBITDA, 2 Yr. CAGR %	4.82	8.27	12.91	15.13	15.55
EBITA, 2 Yr. CAGR %	4.82	8.38	13.08	15.26	15.64
EBIT, 2 Yr. CAGR %	4.82	8.38	13.08	15.26	15.64
Earnings From Cont. Operations, 2 Yr. CAGR %	13.67	90.75	34.92	-4.25	-12.59
Net Income, 2 Yr. CAGR %	13.67	90.75	34.92	-4.25	-12.59
Diluted EPS Before Extra, 2 Yr. CAGR %	4.67	73.4	24.99	-15.1	-17.41
Normalized Net Income, 2 Yr. CAGR %	-2.38	11.07	33.84	22.8	15.27
Net Property, Plant and Equip., 2 Yr. CAGR %	6.64	14.07	19.11	16.17	13.37
Accounts Receivable, 2 Yr. CAGR %	4.53	9.95	5.71	-21.98	-6.82
Total Assets, 2 Yr. CAGR %	14.81	14.46	17.22	15.77	9.45
Common Equity, 2 Yr. CAGR %	14.38	21.62	30.8	25.85	5.11
Tangible Book Value, 2 Yr. CAGR %	14.38	21.62	30.8	25.85	5.11
Cash From Operations, 2 Yr. CAGR %	1.83	-24.24	15.83	41.03	19.64
Capital Expenditures, 2 Yr. CAGR %	-63.09	-48.29	207.96	64.82	-36.52
Levered Free Cash Flow, 2 Yr. CAGR %	6.07	-21.19	5.05	64.69	23.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	7.05	-11.71	4.91	34.57	20.49
Dividend Per Share, 2 Yr. CAGR %	-6	-5.77	-6.07	-9.45	8.58
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.62	7.24	12.69	16.21	16.74
Gross Profit, 3 Yr. CAGR %	5.72	6.94	11.99	14.92	15.24
EBITDA, 3 Yr. CAGR %	5.39	6.6	10.67	13.37	14.98
EBITA, 3 Yr. CAGR %	5.26	6.68	10.77	13.56	15.05
EBIT, 3 Yr. CAGR %	5.26	6.68	10.77	13.56	15.05
Earnings From Cont. Operations, 3 Yr. CAGR %	23.18	21.87	67.85	8.69	-0.24
Net Income, 3 Yr. CAGR %	23.18	21.87	67.85	8.69	-0.24
Diluted EPS Before Extra, 3 Yr. CAGR %	17.42	15.25	52.24	-1.37	-7.15
Normalized Net Income, 3 Yr. CAGR %	0.95	7.65	19.06	25.45	21.32
Net Property, Plant and Equip., 3 Yr. CAGR %	6.3	11.21	15.14	17.74	14.67
Accounts Receivable, 3 Yr. CAGR %	3.59	-2.4	16.67	-19.7	4.48
Total Assets, 3 Yr. CAGR %	11.44	12.15	18.93	12.77	15.43
Common Equity, 3 Yr. CAGR %	11.32	13.85	30.91	21.35	18.78
Tangible Book Value, 3 Yr. CAGR %	11.32	13.85	30.91	21.35	18.78
Cash From Operations, 3 Yr. CAGR %	7.09	-17.64	12.92	6.32	47.02
Capital Expenditures, 3 Yr. CAGR %	-43.19	-48.48	36.22	39.69	56.16
Levered Free Cash Flow, 3 Yr. CAGR %	24.7	-24.78	23.22	-8.67	80.43
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.28	-16.04	18.44	-6.73	52.04
Dividend Per Share, 3 Yr. CAGR %	-2.28	-2.24	-9.51	-4.65	-1.13
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.18	10.22	10.08	11.82	13.58
Gross Profit, 5 Yr. CAGR %	11.74	9.79	9.09	10.82	12.79
EBITDA, 5 Yr. CAGR %	11.62	9.59	8.33	9.87	12.18
EBITA, 5 Yr. CAGR %	11.52	9.54	8.32	9.98	12.28
EBIT, 5 Yr. CAGR %	11.52	9.54	8.32	9.98	12.28
Earnings From Cont. Operations, 5 Yr. CAGR %	31	14.09	27.75	10.66	29.29
Net Income, 5 Yr. CAGR %	31	14.09	27.75	10.66	29.29
Diluted EPS Before Extra, 5 Yr. CAGR %	28.55	11.17	21.56	1.98	19.21
Normalized Net Income, 5 Yr. CAGR %	18.53	6.63	13.01	13.47	17.11
Net Property, Plant and Equip., 5 Yr. CAGR %	9.84	9.99	11.25	13.17	14.43
Accounts Receivable, 5 Yr. CAGR %	5.16	8.05	4.44	-10.76	6.63
Total Assets, 5 Yr. CAGR %	12.96	10.02	13.72	13.58	15.04
Common Equity, 5 Yr. CAGR %	8.67	9.91	18.74	18.51	19.9
Tangible Book Value, 5 Yr. CAGR %	8.67	9.91	18.74	18.51	19.9
Cash From Operations, 5 Yr. CAGR %	9.44	-6.82	10.66	4.65	15.56
Capital Expenditures, 5 Yr. CAGR %	-21.09	-3.32	11.7	-17.97	0.37
Levered Free Cash Flow, 5 Yr. CAGR %	20.54	-7.02	17.18	-2.41	22.84
Unlevered Free Cash Flow, 5 Yr. CAGR %	19.27	-0.44	13.88	-1.45	18.9
Dividend Per Share, 5 Yr. CAGR %	5.35	2.14	-3.81	-5.19	-3.01