# CorporaciÃ3n Inmobiliaria Vesta, S.A.B de C.V. (VTMX.US)

Canonical: https://gigainvestors.com/s/VTMX

Analysis as of: 2026-10-16T07:32:58.697Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $34.68 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Up 10% since Oct 2023

Story as of 2026-10-16T10:01:28.500Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in real estate diversified; annual sales are USD 291 million.

- Source: https://www.sec.gov/Archives/edgar/data/1969373/000196937326000010/vtmx-20251231.htm (filed 2026-03-17); FY2025: revenue 290976812; grossProfit 259149599; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); VTMX.US: Corporación Inmobiliaria Vesta, S.A.B. de C.V., together with its subsidiaries, acquires, develops, manages, operates industrial buildings and distribution facilities in Mexico. It offers rental income from operating leases, including reimbursable building services and energy income. The company serves corporations in diverse industries, such as food and beverage, automotive, aerospace, medical, logistics, and plastics. Corporación Inmobiliaria Vesta, S.A.B. de C.V. was incorporated in 1996 and is headquartered in Mexico City, Mexico.

### Why customers stay

Margins ranged from 89.1% to 91.5% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2023: grossProfit / revenue = 91.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2024: grossProfit / revenue = 89.7%.

- Source: https://www.sec.gov/Archives/edgar/data/1969373/000196937326000010/vtmx-20251231.htm (filed 2026-03-17); FY2025: grossProfit / revenue = 89.1%.

### Where the cash goes

Reinvests 1.4% of cash earnings; paid dividends in 5 of 5 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2021: growth capex 0; upkeep 219143; owner earnings 175324446. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2022: growth capex 0; upkeep 219884; owner earnings 244868790. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2023: growth capex 500227; upkeep 1578073; cash acquisitions 0; owner earnings 316637512. Growth capex plus acquisitions / owner earnings = 0.001579809659444267.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2024: growth capex 0; upkeep 595000; cash acquisitions 0; owner earnings 223241000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1969373/000196937326000010/vtmx-20251231.htm (filed 2026-03-17); FY2025: growth capex 0; upkeep 840068; cash acquisitions 3521881; owner earnings 243571271. Growth capex plus acquisitions / owner earnings = 0.014459344837922203.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); Dividend observations: [[2021,55367252],[2022,57018815],[2023,59509926],[2024,63408000],[2025,68545081]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1969373/000196937326000010/vtmx-20251231.htm (filed 2026-03-17); FY2025: cash repurchases 36533089 USD.

### Are managers owners

Insiders own <0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); VTMX.US SharesStats.PercentInsiders = 0.033 percentage points; cache date 2026-10-16.

### What the price says

The price is 102.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); Closing price 34.68 USD; reporting-to-trading FX 1; FY2025 annual sales per share 0.3379047225053932; price multiple 102.63248096346591. FY2025 cash earnings/share 0.282853751032027. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-06: $32.22 per share

- 2023-07: $36.27 per share

- 2023-08: $37.14 per share

- 2023-09: $32.87 per share

- 2023-10: $31.44 per share

- 2023-11: $37.79 per share

- 2023-12: $39.62 per share

- 2024-01: $37.92 per share

- 2024-02: $35.19 per share

- 2024-03: $39.24 per share

- 2024-04: $35.51 per share

- 2024-05: $34.84 per share

- 2024-06: $29.99 per share

- 2024-07: $29.38 per share

- 2024-08: $27.52 per share

- 2024-09: $26.94 per share

- 2024-10: $26.06 per share

- 2024-11: $24.10 per share

- 2024-12: $25.60 per share

- 2025-01: $26.24 per share

- 2025-02: $23.34 per share

- 2025-03: $22.81 per share

- 2025-04: $27.42 per share

- 2025-05: $28.84 per share

- 2025-06: $27.39 per share

- 2025-07: $28.09 per share

- 2025-08: $27.46 per share

- 2025-09: $28.29 per share

- 2025-10: $30.37 per share

- 2025-11: $31.15 per share

- 2025-12: $30.49 per share

- 2026-01: $30.94 per share

- 2026-02: $36.73 per share

- 2026-03: $33.34 per share

- 2026-04: $35.60 per share

- 2026-05: $34.95 per share

- 2026-06: $34.31 per share

- 2026-07: $34.49 per share

- 2026-08: $34.42 per share

- 2026-09: $32.18 per share

- 2026-10: $34.68 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1969373/000196937326000010/vtmx-20251231.htm); period 2025-12-31, filed 2026-03-17.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.