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VSE Corporation(VSEC)Earnings, Financials & Key Ratios
VSEC•NASDAQ
87.0× P/E·Price updated Jun 19, 2026
AboutVSE Corporation operates as a diversified aftermarket products and services company in the United States. The company operates through three segments: Aviation, Fleet, and Federal and Defense. The Aviation segment provides international parts supply and distribution, supply chain solutions, and component and engine accessory maintenance, repair, and overhaul (MRO) services. This segment serves commercial airlines, regional airlines, cargo transporters, MRO integrators and providers, aviation manufacturers, corporate and private aircraft owners, and fixed-base operators. The Fleet segment offers parts supply, inventory management, e-commerce fulfillment, logistics, and other services to assist aftermarket commercial and federal customers with their supply chain management. This segment also provides sale of vehicle parts and supply chain services to support client truck fleets, as well as sustainment solutions and managed inventory services to government and commercial truck fleets. The Federal and Defense segment offers aftermarket refurbishment and sustainment services to extend and maintain the life cycle of military vehicles, ships, and aircraft for the United States Department of Defense (DoD). This segment also provides foreign military sales services, engineering, logistics, maintenance, configuration management, prototyping, technology, and field support services to the DoD and other customers. In addition, this segment offers energy consulting services and IT solutions to various DoD, federal civilian agencies, and commercial clients. The company also provides vehicle and equipment maintenance and refurbishment, logistics, engineering support, energy services, and IT and health care IT solutions, as well as consulting services. VSE Corporation was incorporated in 1959 and is headquartered in Alexandria, Virginia.Show more
- Revenue$1.11B+3.0%
- EBITDA$165M+25.4%
- Net Income$53M+75.3%
- EPS (Diluted)2.52+48.2%
- Gross Margin11.88%+18.6%
- EBITDA Margin14.83%+21.8%
- Operating Margin11.24%+18.2%
- Net Margin4.81%+70.2%
- ROE4.41%+15.9%
VSEC Key Insights
VSE Corporation (VSEC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 10.9%
✗Weaknesses
- ✗Shares diluted 18.1% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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VSEC Price & Volume
VSE Corporation (VSEC) stock price & volume — 10-year historical chart
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VSEC Growth Metrics
VSE Corporation (VSEC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years7.61%
5 Years10.95%
3 Years18.44%
TTM24.1%
Profit CAGR
10 Years7.94%
5 Years-
3 Years24%
TTM311.86%
EPS CAGR
10 Years0.87%
5 Years-
3 Years4.79%
TTM208.75%
Return on Capital
10 Years8.55%
5 Years7.21%
3 Years8.62%
Last Year7.71%
VSEC Recent Earnings
VSE Corporation (VSEC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$1.17+25.8%
$0.93
Rev
$325M+5.0%
$309M
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$1.16+31.8%
$0.88
Rev
$301M+4.0%
$290M
Q4 2025
Oct 27, 2025Metric
Actual
Est
EPS
$0.99+17.9%
$0.84
Rev
$283M-0.2%
$283M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$0.97+40.6%
$0.69
Rev
$272M-1.6%
$276M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $1.17vs $0.93+25.8% | $325Mvs $309M+5.0% |
| Q1 2026 | Feb 25, 2026 | $1.16vs $0.88+31.8% | $301Mvs $290M+4.0% |
| Q4 2025 | Oct 27, 2025 | $0.99vs $0.84+17.9% | $283Mvs $283M-0.2% |
| Q3 2025 | Jul 30, 2025 | $0.97vs $0.69+40.6% | $272Mvs $276M-1.6% |
Based on last 12 quarters of dataView full earnings history →
VSEC Peer Comparison
VSE Corporation (VSEC) competitors in Aviation Aftermarket and MRO — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 HAYW | 3.25B | 15.00 | 22.06 | 6.71% | 13.98% | 10.32% | 0.01 | |
 KAI | 3.6B | 304.49 | 35.20 | -0.11% | 9.69% | 10.8% | 0.38 | |
 DRS | 12.29B | 46.08 | 44.74 | 12.8% | 7.85% | 10.79% | 0.17 | |
 AVAV | 8.47B | 169.61 | 109.43 | 14.5% | -13.93% | -6.41% | 0.07 | |
 TDG | 75.01B | 1328.31 | 41.41 | 11.22% | 21.59% | |||
 FTAI | 28.32B | 276.11 | 60.02 | 43.24% | 18.92% | 181.39% | 10.32 | |
 KTOS | 10.17B | 54.21 | 417 | 18.52% | 2.08% | 1.26% | 0.09 | |
 HEI | 46.96B | 337.10 | 68.80 | 16.26% | 16.08% | 16.23% | 0.50 |
Compare VSEC vs Peers
VSE Corporation (VSEC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VSEC Income Statement
VSE Corporation (VSEC) 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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 760.11M | 697.22M | 752.63M | 661.66M | 750.85M | 669.45M | 860.49M | 1.08B | 1.11B | 1.18B |
Revenue Growth % | 9.88% | -8.27% | 7.95% | -12.09% | 13.48% | -10.84% | 28.54% | 25.53% | 2.98% | 24.1% |
Cost of Goods Sold | 703.36M | 640.97M | 688.18M | 603.78M | 725.71M | 612.21M | 764.87M | 971.93M | 980.14M | 1.04B |
COGS % of Revenue | 92.53% | 91.93% | 91.44% | 91.25% | 96.65% | 91.45% | 88.89% | 89.98% | 88.12% | - |
Gross Profit | 56.75M▲ 0% | 56.24M▼ 0.9% | 64.45M▲ 14.6% | 57.88M▼ 10.2% | 25.14M▼ 56.6% | 57.24M▲ 127.6% | 95.61M▲ 67.0% | 108.2M▲ 13.2% | 132.13M▲ 22.1% | 144.27M▲ 0% |
Gross Margin % | 7.47% | 8.07% | 8.56% | 8.75% | 3.35% | 8.55% | 11.11% | 10.02% | 11.88% | 12.22% |
Gross Profit Growth % | -2.38% | -0.9% | 14.59% | -10.19% | -56.56% | 127.64% | 67.05% | 13.16% | 22.12% | - |
Operating Expenses | 2.43M | 3.15M | 1.89M | 1.35M | 3.63M | 3.63M | 3.92M | 5.48M | 7.14M | 18.13M |
OpEx % of Revenue | 0.32% | 0.45% | 0.25% | 0.2% | 0.48% | 0.54% | 0.46% | 0.51% | 0.64% | - |
Selling, General & Admin | 2.43M | 3.15M | 1.89M | 1.35M | 3.63M | 3.63M | 3.92M | 5.48M | 7.14M | 18.13M |
SG&A % of Revenue | 0.32% | 0.45% | 0.25% | 0.2% | 0.48% | 0.54% | 0.46% | 0.51% | 0.64% | - |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Operating Income | 54.33M▲ 0% | 53.1M▼ 2.3% | 62.56M▲ 17.8% | 56.53M▼ 9.6% | 21.52M▼ 61.9% | 53.6M▲ 149.1% | 91.7M▲ 71.1% | 102.72M▲ 12.0% | 125M▲ 21.7% | 126.14M▲ 0% |
Operating Margin % | 7.15% | 7.62% | 8.31% | 8.54% | 2.87% | 8.01% | 10.66% | 9.51% | 11.24% | 10.68% |
Operating Income Growth % | 5.43% | -2.26% | 17.81% | -9.63% | -61.93% | 149.09% | 71.06% | 12.03% | 21.68% | - |
EBITDA | 80.21M | 78.32M | 89.48M | 80.67M | 47.12M | 78.21M | 115.11M | 131.49M | 164.92M | 169.64M |
EBITDA Margin % | 10.55% | 11.23% | 11.89% | 12.19% | 6.28% | 11.68% | 13.38% | 12.17% | 14.83% | 14.37% |
EBITDA Growth % | 3.39% | -2.35% | 14.25% | -9.86% | -41.59% | 65.97% | 47.19% | 14.22% | 25.43% | 33.5% |
D&A (Non-Cash Add-back) | 25.88M | 25.22M | 26.93M | 24.14M | 25.6M | 24.6M | 23.42M | 28.76M | 39.92M | 43.5M |
EBIT | 54.33M | 54.23M | 60.26M | 13.92M | 21.52M | 53.6M | 88M | 81.42M | 89.59M | 97.84M |
Net Interest Income | -9.24M | -8.98M | -13.83M | -13.5M | -12.07M | -17.89M | -31.08M | -34.94M | -20.56M | -11.21M |
Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 9.24M | 8.98M | 13.83M | 13.5M | 12.07M | 17.89M | 31.08M | 34.94M | 20.56M | 11.21M |
Other Income/Expense | -9.24M | -7.85M | -16.13M | -56.1M | -12.07M | -17.89M | -34.78M | -56.24M | -55.96M | -39.51M |
Pretax Income | 45.09M▲ 0% | 45.25M▲ 0.4% | 46.43M▲ 2.6% | 427K▼ 99.1% | 9.45M▲ 2113.3% | 35.71M▲ 277.9% | 56.91M▲ 59.4% | 46.48M▼ 18.3% | 69.04M▲ 48.5% | 86.62M▲ 0% |
Pretax Margin % | 5.93% | 6.49% | 6.17% | 0.06% | 1.26% | 5.33% | 6.61% | 4.3% | 6.21% | 7.34% |
Income Tax | 5.99M | 10.17M | 9.4M | 5.6M | 1.49M | 9.05M | 13.76M | 9.98M | 15.55M | 18.04M |
Effective Tax Rate % | 13.28% | 22.47% | 20.25% | 1311.01% | 15.71% | 25.35% | 24.18% | 21.48% | 22.52% | 20.83% |
Net Income | 39.1M▲ 0% | 35.08M▼ 10.3% | 37.02M▲ 5.5% | -5.17M▼ 114.0% | 7.97M▲ 254.1% | 28.06M▲ 252.2% | 39.13M▲ 39.5% | 30.52M▼ 22.0% | 53.49M▲ 75.3% | 62.83M▲ 0% |
Net Margin % | 5.14% | 5.03% | 4.92% | -0.78% | 1.06% | 4.19% | 4.55% | 2.83% | 4.81% | 5.32% |
Net Income Growth % | 45.92% | -10.27% | 5.54% | -113.97% | 254.05% | 252.23% | 39.47% | -22% | 75.25% | 311.86% |
Net Income (Continuing) | 39.1M | 35.08M | 37.02M | -5.17M | 7.97M | 26.66M | 43.15M | 36.5M | 53.49M | 68.58M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 1.4M | -4.02M | -5.97M | 0 | 164K |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | 3.60▲ 0% | 3.21▼ 10.8% | 3.35▲ 4.4% | -0.47▼ 114.0% | 0.63▲ 234.0% | 2.19▲ 247.6% | 2.76▲ 26.0% | 1.70▼ 38.4% | 2.52▲ 48.2% | 2.26▲ 0% |
EPS Growth % | 45.75% | -10.83% | 4.36% | -114.03% | 234.04% | 247.62% | 26.03% | -38.41% | 48.24% | 208.75% |
EPS (Basic) | 3.61 | 3.23 | 3.38 | -0.47 | 0.63 | 2.20 | 2.77 | 1.71 | 2.52 | - |
Diluted Shares Outstanding | 10.87M | 10.94M | 11.04M | 11.03M | 12.63M | 12.83M | 14.18M | 17.98M | 21.23M | 27.83M |
Basic Shares Outstanding | 10.83M | 10.88M | 10.96M | 11.03M | 12.55M | 12.78M | 14.13M | 17.88M | 21.23M | 27.5M |
Dividend Payout Ratio | 7.2% | 9.3% | 10.06% | - | 55.57% | 18.22% | 13.89% | 23.13% | 15.45% | - |
VSEC Balance Sheet
VSE Corporation (VSEC) 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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 248.54M | 281.22M | 355.34M | 354.96M | 463.99M | 548.88M | 774.03M | 874.83M | 893.33M | 2.16B |
Cash & Short-Term Investments | 624K | 162K | 734K | 378K | 518K | 305K | 7.77M | 29.03M | 69.36M | 1.24B |
Cash Only | 624K | 162K | 734K | 378K | 518K | 305K | 7.77M | 29.03M | 69.36M | 1.24B |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 98.34M | 101.26M | 116.91M | 80.55M | 111.29M | 98.01M | 136.01M | 227.52M | 232.2M | 216.5M |
Days Sales Outstanding | 47.22 | 53.01 | 56.7 | 44.43 | 54.1 | 53.44 | 57.69 | 76.89 | 76.2 | 65.09 |
Inventory | 132.59M | 166.39M | 218.63M | 253.42M | 322.7M | 380.71M | 500.86M | 576.32M | 553.83M | 625.74M |
Days Inventory Outstanding | 68.81 | 94.75 | 115.96 | 153.2 | 162.31 | 226.98 | 239.01 | 216.43 | 206.25 | 185.49 |
Other Current Assets | 16.99M | 13.41M | 19.07M | 20.61M | 29.48M | 69.69M | 129.39M | 41.96M | 37.94M | 79.29M |
Total Non-Current Assets | 380.47M | 357.61M | 490.52M | 425.12M | 454.56M | 450.91M | 576.31M | 859.79M | 1.14B | 1.15B |
Property, Plant & Equipment | 55.15M | 49.61M | 64.41M | 56.88M | 69.81M | 82.38M | 86.76M | 138.91M | 141.25M | 142.09M |
Fixed Asset Turnover | 13.78x | 14.06x | 11.69x | 11.63x | 10.76x | 8.13x | 9.92x | 7.78x | 7.87x | 8.86x |
Goodwill | 198.62M | 198.62M | 276.45M | 238.13M | 248.75M | 248.84M | 351.78M | 491.45M | 641.24M | 638.89M |
Intangible Assets | 110.91M | 94.89M | 132.18M | 103.59M | 108.26M | 90.62M | 114.13M | 197.28M | 295.96M | 318.81M |
Long-Term Investments | 0 | 0 | 0 | 9.86M | 7.04M | 6.62M | 2.84M | 4.09M | 28.28M | 105.73M |
Other Non-Current Assets | 15.8M | 14.49M | 17.49M | 1.55M | -6.94M | -8.42M | 20.8M | 28.05M | 28.52M | 49.93M |
Total Assets | 629.01M▲ 0% | 638.83M▲ 1.6% | 845.86M▲ 32.4% | 780.08M▼ 7.8% | 918.56M▲ 17.8% | 999.79M▲ 8.8% | 1.35B▲ 35.1% | 1.73B▲ 28.5% | 2.03B▲ 16.9% | 3.31B▲ 0% |
Asset Turnover | 1.21x | 1.09x | 0.89x | 0.85x | 0.82x | 0.67x | 0.64x | 0.62x | 0.55x | 0.56x |
Asset Growth % | -4.96% | 1.56% | 32.41% | -7.78% | 17.75% | 8.84% | 35.06% | 28.46% | 16.95% | 121.78% |
Total Current Liabilities | 113.98M | 104.88M | 164.18M | 139.23M | 179.96M | 224.6M | 286.89M | 281.84M | 237.51M | 246.19M |
Accounts Payable | 66.02M | 57.41M | 68.1M | 72.68M | 115.06M | 128.5M | 173.04M | 187.59M | 154.51M | 147.91M |
Days Payables Outstanding | 34.26 | 32.69 | 36.12 | 43.94 | 57.87 | 76.61 | 82.57 | 70.45 | 57.54 | 48.89 |
Short-Term Debt | 6.96M | 11.07M | 16.88M | 20.38M | 14.16M | 10M | 22.5M | 30M | 13.81M | 29.92M |
Deferred Revenue (Current) | 0 | 0 | 6.38M | 10.94M | 8.23M | 963K | 2.79M | 4.48M | 6.89M | 16.27M |
Other Current Liabilities | 17.7M | 11.8M | 41.82M | 6.94M | 7.6M | 68.01M | 67.87M | 32.52M | 38.48M | 68.36M |
Current Ratio | 2.18x | 2.68x | 2.16x | 2.55x | 2.58x | 2.44x | 2.70x | 3.10x | 3.76x | 8.78x |
Quick Ratio | 1.02x | 1.09x | 0.83x | 0.73x | 0.79x | 0.75x | 0.95x | 1.06x | 1.43x | 6.24x |
Cash Conversion Cycle | 81.77 | 115.07 | 136.54 | 153.7 | 158.53 | 203.8 | 214.13 | 222.87 | 224.91 | 201.7 |
Total Non-Current Liabilities | 221.94M | 205.56M | 318.58M | 284.54M | 321.26M | 325.66M | 446.73M | 464.59M | 352.26M | 398.26M |
Long-Term Debt | 165.61M | 151.13M | 253.13M | 230.71M | 270.41M | 276.3M | 406.84M | 400.17M | 285.3M | 41.56M |
Capital Lease Obligations | 20.58M | 18.91M | 24.44M | 22.82M | 27.17M | 19.15M | 24.96M | 48.14M | 43.69M | 119.56M |
Deferred Tax Liabilities | 19.42M | 18.48M | 17.86M | 14.9M | 9.11M | 4.76M | 6.99M | 0 | 12.39M | 29.18M |
Other Non-Current Liabilities | 16.32M | 17.03M | 23.15M | 16.11M | 14.58M | 25.45M | 7.94M | 16.27M | 10.87M | 339.92M |
Total Liabilities | 335.92M | 310.43M | 482.76M | 423.76M | 501.23M | 550.26M | 733.61M | 746.43M | 589.77M | 644.45M |
Total Debt | 193.16M | 181.11M | 298.16M | 277.92M | 317.73M | 308.64M | 459.26M | 485.21M | 342.8M | 71.48M |
Net Debt | 192.53M | 180.95M | 297.43M | 277.54M | 317.21M | 308.33M | 451.49M | 456.18M | 273.44M | -1.17B |
Debt / Equity | 0.66x | 0.55x | 0.82x | 0.78x | 0.76x | 0.69x | 0.74x | 0.49x | 0.24x | 0.03x |
Debt / EBITDA | 2.41x | 2.31x | 3.33x | 3.45x | 6.74x | 3.95x | 3.99x | 3.69x | 2.08x | 0.42x |
Net Debt / EBITDA | 2.40x | 2.31x | 3.32x | 3.44x | 6.73x | 3.94x | 3.92x | 3.47x | 1.66x | -6.88x |
Interest Coverage | 5.88x | 6.04x | 4.36x | 1.03x | 1.78x | 3.00x | 2.83x | 2.33x | 4.36x | 8.72x |
Total Equity | 293.1M▲ 0% | 328.39M▲ 12.0% | 363.1M▲ 10.6% | 356.32M▼ 1.9% | 417.33M▲ 17.1% | 449.53M▲ 7.7% | 616.73M▲ 37.2% | 988.19M▲ 60.2% | 1.44B▲ 45.6% | 2.67B▲ 0% |
Equity Growth % | 14.85% | 12.04% | 10.57% | -1.87% | 17.12% | 7.71% | 37.19% | 60.23% | 45.6% | 269.04% |
Book Value per Share | 26.97 | 30.03 | 32.88 | 32.29 | 33.04 | 35.04 | 43.48 | 54.98 | 67.78 | 95.79 |
Total Shareholders' Equity | 293.1M | 328.39M | 363.1M | 356.32M | 417.33M | 449.53M | 616.73M | 988.19M | 1.44B | 2.67B |
Common Stock | 542K | 544K | 549K | 553K | 636K | 641K | 788K | 1.03M | 1.17M | 1.4M |
Retained Earnings | 267.9M | 301.07M | 334.25M | 325.1M | 328.36M | 351.3M | 384.7M | 392.48M | 395.64M | 421.89M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 181K | 146K | -1.1M | -1.2M | -176K | 4.97M | 2.13M | 3.07M | 512K | 1.17M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
VSEC Cash Flow Statement
VSE Corporation (VSEC) 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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 50.42M | 18.86M | 17.99M | 35.76M | -17.6M | 8.05M | -21.83M | -31.04M | 26.99M | 11.36M |
Operating CF Margin % | 6.63% | 2.7% | 2.39% | 5.4% | -2.34% | 1.2% | -2.54% | -2.87% | 2.43% | - |
Operating CF Growth % | 6.84% | -62.6% | -4.57% | 98.74% | -149.22% | 145.74% | -371.13% | -42.18% | 186.96% | 239.02% |
Net Income | 39.1M | 35.08M | 37.02M | -5.17M | 7.97M | 28.06M | 39.13M | 15.32M | 53.49M | 62.83M |
Depreciation & Amortization | 25.88M | 25.22M | 26.93M | 24.14M | 25.6M | 25.57M | 23.42M | 28.76M | 39.92M | 43.5M |
Stock-Based Compensation | 3.07M | 3.03M | 3.26M | 2.86M | 3.93M | 4.46M | 7.74M | 8.31M | 0 | 7.72M |
Deferred Taxes | -10.53M | -1.37M | -505K | 106K | -4.36M | -1.14M | -1.98M | -10M | -58K | 11.12M |
Other Non-Cash Items | 71.79M | -1.7M | 1.9M | 35.9M | 24.36M | 1.22M | 2.29M | 33.42M | 46.76M | 37.84M |
Working Capital Changes | -7.09M | -41.41M | -50.62M | -22.07M | -75.1M | -50.12M | -92.42M | -106.86M | -113.13M | -146.97M |
Change in Receivables | 2.88M | -3.75M | -3.33M | 7.73M | -9.41M | -33.03M | -20.77M | -32.46M | -35.1M | -45.31M |
Change in Inventory | 3.75M | -35.56M | -44.22M | -50.17M | -80.02M | -59.1M | -87.53M | -31.67M | -56.87M | -122.06M |
Change in Payables | -23.59M | -7.41M | 7.72M | 3.5M | 33.21M | 36.19M | 23.91M | -31.76M | -10.93M | -10.89M |
Cash from Investing | -3.01M | -1.29M | -122.81M | 20.22M | -61.63M | -2.38M | -235.69M | -263.67M | -276.45M | -303.41M |
Capital Expenditures | -3.74M | -3.12M | -9.63M | -4.43M | -10.52M | -11.21M | -18.67M | -20.7M | -21.28M | -24.86M |
CapEx % of Revenue | 0.49% | 0.45% | 1.28% | 0.67% | 1.4% | 1.67% | 2.17% | 1.92% | 1.91% | 2.11% |
Acquisitions | 732K | 1.7M | -113.18M | 21.77M | -53.34M | 0 | -218.58M | -283.12M | -255.17M | -402.12M |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 732K | 122K | 4K | 2.88M | 2.22M | 8.84M | 1.56M | 40.16M | 0 | 123.58M |
Cash from Financing | -47.21M | -18.02M | 105.39M | -56.34M | 79.37M | -5.71M | 264.97M | 315.81M | 289.79M | 1.52B |
Debt Issued (Net) | -43.9M | -12.42M | 110.07M | -19.34M | 33.27M | 1.88M | 144.39M | -500K | -138.83M | -175.21M |
Equity Issued (Net) | 0 | 0 | 0 | -690K | 52.02M | 899K | 130.02M | 326M | 442.17M | 1.72B |
Dividends Paid | -2.82M | -3.26M | -3.73M | -3.97M | -4.43M | -5.11M | -5.44M | -7.06M | -8.26M | -8.54M |
Share Repurchases | -500K | 0 | -955K | -690K | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -500K | -2.34M | -955K | -32.34M | -1.49M | -3.38M | -4M | -2.63M | -5.28M | -12.31M |
Net Change in Cash | 196K▲ 0% | -462K▼ 335.7% | 572K▲ 223.8% | -356K▼ 162.2% | 140K▲ 139.3% | -40K▼ 128.6% | 7.45M▲ 18730.0% | 21.1M▲ 183.1% | 40.33M▲ 91.1% | 1.23B▲ 0% |
Free Cash Flow | 46.68M▲ 0% | 15.74M▼ 66.3% | 8.36M▼ 46.9% | 31.33M▲ 274.6% | -28.12M▼ 189.7% | -3.16M▲ 88.8% | -40.49M▼ 1181.1% | -51.74M▼ 27.8% | 5.71M▲ 111.0% | -13.51M▲ 0% |
FCF Margin % | 6.14% | 2.26% | 1.11% | 4.74% | -3.75% | -0.47% | -4.71% | -4.79% | 0.51% | -1.14% |
FCF Growth % | 14.84% | -66.28% | -46.85% | 274.63% | -189.75% | 88.76% | -1181.08% | -27.77% | 111.03% | 6.6% |
FCF per Share | 4.29 | 1.44 | 0.76 | 2.84 | -2.23 | -0.25 | -2.85 | -2.88 | 0.27 | -0.49 |
FCF Conversion (FCF/Net Income) | 1.29x | 0.54x | 0.49x | -6.92x | -2.21x | 0.29x | -0.56x | -1.02x | 0.50x | -0.21x |
Interest Paid | 7.61M | 7.52M | 13.47M | 13.94M | 12.15M | 16.42M | 35.04M | 37.08M | 0 | 0 |
Taxes Paid | 16.35M | 9.53M | 11.64M | 4.76M | 7.54M | 10.33M | 13.94M | 12.23M | 0 | 0 |
VSEC Key Ratios
VSE Corporation (VSEC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 14.26% | 11.29% | 10.71% | -1.44% | 2.06% | 6.47% | 7.34% | 3.8% | 4.41% | 4.14% |
Return on Invested Capital (ROIC) | 8.34% | 8.01% | 8.02% | 6.55% | 2.36% | 5.39% | 7.53% | 6.13% | 5.94% | 6.31% |
Gross Margin | 7.47% | 8.07% | 8.56% | 8.75% | 3.35% | 8.55% | 11.11% | 10.02% | 11.88% | 12.22% |
Net Margin | 5.14% | 5.03% | 4.92% | -0.78% | 1.06% | 4.19% | 4.55% | 2.83% | 4.81% | 5.32% |
Debt / Equity | 0.66x | 0.55x | 0.82x | 0.78x | 0.76x | 0.69x | 0.74x | 0.49x | 0.24x | 0.03x |
Interest Coverage | 5.88x | 6.04x | 4.36x | 1.03x | 1.78x | 3.00x | 2.83x | 2.33x | 4.36x | 8.72x |
FCF Conversion | 1.29x | 0.54x | 0.49x | -6.92x | -2.21x | 0.29x | -0.56x | -1.02x | 0.50x | -0.21x |
Revenue Growth | 9.88% | -8.27% | 7.95% | -12.09% | 13.48% | -10.84% | 28.54% | 25.53% | 2.98% | 24.1% |
Related:VSEC Dividend History·VSEC Revenue History·VSEC Price History·VSEC P/E History·VSEC Financial Ratios·VSEC Institutional Holders
VSEC SEC Filings & Documents
VSE Corporation (VSEC) SEC filings — annual & quarterly reports (10-K, 10-Q)
VSEC Frequently Asked Questions
VSE Corporation (VSEC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
VSE Corporation (VSEC) reported $1.18B in revenue for fiscal year 2025. This represents a 883% increase from $120.1M in 1996.
VSE Corporation (VSEC) grew revenue by 3.0% over the past year. Growth has been modest.
Yes, VSE Corporation (VSEC) is profitable, generating $62.8M in net income for fiscal year 2025 (4.8% net margin).
Dividend & Returns
Yes, VSE Corporation (VSEC) pays a dividend with a yield of 0.18%. This makes it attractive for income-focused investors.
VSE Corporation (VSEC) has a return on equity (ROE) of 4.4%. This is below average, suggesting room for improvement.
VSE Corporation (VSEC) had negative free cash flow of $13.5M in fiscal year 2025, likely due to heavy capital investments.