VSE Corporation (VSEC) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Aerospace & Defense
EV/EBITDA
↑
32.04
↑+84% vs avg
5yr avg: 17.39
30Y Low2.8·High23.9
P/FCF
877.75
↑+37% vs avg
5yr avg: 642.39
30Y Low3.4·High50.2
P/B Ratio
↑
3.23
↑+81% vs avg
5yr avg: 1.79
30Y Low0.7·High4.3
ROE
↑
4.4%
-8% vs avg
5yr avg: 4.8%
30Y Low-10%·High30%
Debt/EBITDA
↓
2.08
↓-49% vs avg
5yr avg: 4.09
30Y Low0.0·High6.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VSEC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
VSE Corporation trades at 87.0x earnings, 63% above its 5-year average of 53.2x, sitting at the 96th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 240%. On a free-cash-flow basis, the stock trades at 877.8x P/FCF, 37% above the 5-year average of 642.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $3.7B | $1.7B | $916M | $601M | $770M | $425M | $420M | $327M | $526M | $421M |
| Enterprise Value | $5.3B | $3.9B | $2.2B | $1.4B | $910M | $1.1B | $702M | $718M | $508M | $719M | $657M |
| P/E Ratio → | 86.99 | 68.56 | 55.94 | 23.41 | 21.41 | 96.73 | — | 11.36 | 9.32 | 13.45 | 15.72 |
| P/S Ratio | 4.51 | 3.30 | 1.58 | 1.07 | 0.90 | 1.03 | 0.64 | 0.56 | 0.47 | 0.69 | 0.61 |
| P/B Ratio | 3.23 | 2.55 | 1.73 | 1.49 | 1.34 | 1.84 | 1.19 | 1.16 | 1.00 | 1.80 | 1.65 |
| P/FCF | 877.75 | 642.39 | — | — | — | — | 13.55 | 50.23 | 20.78 | 11.28 | 10.35 |
| P/OCF | 185.66 | 135.88 | — | — | 74.70 | — | 11.88 | 23.35 | 17.35 | 10.44 | 8.91 |
P/E links to full P/E history page with 30-year chart
VSEC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
VSE Corporation's enterprise value stands at 32.0x EBITDA, 84% above its 5-year average of 17.4x. The Industrials sector median is 13.8x, placing the stock at a 132% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.54 | 2.00 | 1.59 | 1.36 | 1.45 | 1.06 | 0.95 | 0.73 | 0.95 | 0.95 |
| EV / EBITDA | 32.04 | 23.90 | 16.47 | 11.88 | 11.63 | 23.07 | 8.71 | 8.02 | 6.49 | 8.96 | 8.47 |
| EV / EBIT | 42.28 | 43.98 | 26.60 | 15.55 | 16.97 | 50.51 | 50.44 | 11.91 | 9.37 | 13.23 | 12.75 |
| EV / FCF | — | 690.28 | — | — | — | — | 22.41 | 85.79 | 32.28 | 15.40 | 16.16 |
VSEC Profitability
Margins and return-on-capital ratios measuring operating efficiency
VSE Corporation earns an operating margin of 11.2%, above the Industrials sector average of 4.3%. ROE of 4.4% is modest, trailing the sector median of 8.2%. ROIC of 5.9% represents adequate returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.9% | 11.9% | 10.0% | 11.1% | 8.6% | 3.3% | 8.7% | 8.6% | 8.1% | 7.5% | 8.4% |
| Operating Margin | 11.2% | 11.2% | 9.5% | 10.7% | 8.0% | 2.9% | 8.5% | 8.3% | 7.6% | 7.1% | 7.4% |
| Net Profit Margin | 4.8% | 4.8% | 2.8% | 4.5% | 4.2% | 1.1% | -0.8% | 4.9% | 5.0% | 5.1% | 3.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.4% | 4.4% | 3.8% | 7.3% | 6.5% | 2.1% | -1.4% | 10.7% | 11.3% | 14.3% | 11.1% |
| ROA | 2.8% | 2.8% | 2.0% | 3.3% | 2.9% | 0.9% | -0.6% | 5.0% | 5.5% | 6.1% | 4.2% |
| ROIC | 5.9% | 5.9% | 6.1% | 7.5% | 5.4% | 2.4% | 6.6% | 8.0% | 8.0% | 8.3% | 7.9% |
| ROCE | 7.7% | 7.7% | 8.2% | 10.0% | 7.1% | 3.1% | 8.5% | 10.3% | 10.1% | 10.6% | 9.9% |
VSEC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
VSE Corporation carries a Debt/EBITDA ratio of 2.1x, which is manageable (36% below the sector average of 3.2x). Net debt stands at $273M ($343M total debt minus $69M cash). Interest coverage of 4.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.49 | 0.74 | 0.69 | 0.76 | 0.78 | 0.82 | 0.55 | 0.66 | 0.93 |
| Debt / EBITDA | 2.08 | 2.08 | 3.69 | 3.99 | 3.95 | 6.74 | 3.45 | 3.33 | 2.31 | 2.41 | 3.05 |
| Net Debt / Equity | — | 0.19 | 0.46 | 0.73 | 0.69 | 0.76 | 0.78 | 0.82 | 0.55 | 0.66 | 0.93 |
| Net Debt / EBITDA | 1.66 | 1.66 | 3.47 | 3.92 | 3.94 | 6.73 | 3.44 | 3.32 | 2.31 | 2.40 | 3.04 |
| Debt / FCF | — | 47.90 | — | — | — | — | 8.86 | 35.56 | 11.50 | 4.12 | 5.81 |
| Interest Coverage | 4.36 | 4.36 | 2.33 | 2.83 | 3.00 | 1.78 | 1.03 | 4.36 | 6.04 | 5.88 | 5.23 |
VSEC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
VSE Corporation's current ratio of 3.76x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.43x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.70x to 3.76x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.76 | 3.76 | 3.10 | 2.70 | 2.44 | 2.58 | 2.55 | 2.16 | 2.68 | 2.18 | 1.74 |
| Quick Ratio | 1.43 | 1.43 | 1.06 | 0.95 | 0.75 | 0.79 | 0.73 | 0.83 | 1.09 | 1.02 | 0.82 |
| Cash Ratio | 0.29 | 0.29 | 0.10 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| Asset Turnover | — | 0.55 | 0.62 | 0.64 | 0.67 | 0.82 | 0.85 | 0.89 | 1.09 | 1.21 | 1.05 |
| Inventory Turnover | 1.77 | 1.77 | 1.69 | 1.53 | 1.61 | 2.25 | 2.38 | 3.15 | 3.85 | 5.30 | 4.65 |
| Days Sales Outstanding | — | 76.20 | 76.89 | 57.69 | 53.44 | 54.10 | 44.43 | 56.70 | 53.01 | 47.22 | 53.40 |
VSEC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
VSE Corporation returns 0.2% to shareholders annually primarily through dividends. The payout ratio of 15.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.2% | 0.4% | 0.6% | 0.8% | 0.6% | 0.9% | 0.9% | 1.0% | 0.5% | 0.6% |
| Payout Ratio | 15.4% | 15.4% | 23.1% | 13.9% | 18.2% | 55.6% | — | 10.1% | 9.3% | 7.2% | 9.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.5% | 1.8% | 4.3% | 4.7% | 1.0% | — | 8.8% | 10.7% | 7.4% | 6.4% |
| FCF Yield | 0.1% | 0.2% | — | — | — | — | 7.4% | 2.0% | 4.8% | 8.9% | 9.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.2% | 0.0% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.4% | 0.6% | 0.8% | 0.6% | 1.1% | 1.1% | 1.0% | 0.6% | 0.7% |
| Shares Outstanding | — | $21M | $18M | $14M | $13M | $13M | $11M | $11M | $11M | $11M | $11M |
Peer Comparison
Compare VSEC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VSECYou | $5B | 87.0 | 32.0 | 877.8 | 11.9% | 11.2% | 4.4% | 5.9% | 2.1 |
 HAYW | $3B | 22.1 | 10.0 | 14.4 | 45.6% | 21.1% | 10.0% | 10.2% | 0.0 |
 KAI | $4B | 35.2 | 18.5 | 23.3 | 45.2% | 14.9% | 11.0% | 10.1% | 1.8 |
 DRS | $12B | 44.7 | 27.5 | 54.2 | 23.2% | 9.5% | 10.5% | 10.5% | 1.1 |
 AVAV | $8B | 109.4 | 103.8 | — | 39.4% | 5.0% | 5.1% | 3.6% | 0.8 |
 TDG | $75B | 41.4 | 22.6 | 41.3 | 60.1% | 47.2% | — | 20.9% | 6.6 |
 FTAI | $28B | 60.0 | 31.6 | — | 31.1% | 30.7% | 241.2% | 16.8% | 3.5 |
 KTOS | $10B | 417.0 | 112.5 | — | 22.1% | 2.1% | 1.3% | 1.4% | 2.1 |
 HEI | $47B | 68.8 | 40.3 | 54.5 | 39.8% | 22.7% | 17.1% | 12.6% | 1.8 |
 GE | $374B | 43.8 | 38.2 | 51.4 | 36.8% | 19.1% | 45.3% | 24.7% | 2.1 |
 RTX | $250B | 37.4 | 21.9 | 31.5 | 20.1% | 10.0% | 10.4% | 6.7% | 3.1 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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VSEC — Frequently Asked Questions
Quick answers to the most common questions about buying VSEC stock.
What is VSE Corporation's P/E ratio?
VSE Corporation's current P/E ratio is 87.0x. The historical average is 20.8x. This places it at the 96th percentile of its historical range.
What is VSE Corporation's EV/EBITDA?
VSE Corporation's current EV/EBITDA is 32.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.4x.
What is VSE Corporation's ROE?
VSE Corporation's return on equity (ROE) is 4.4%. The historical average is 11.8%.
Is VSEC stock overvalued?
Based on historical data, VSE Corporation is trading at a P/E of 87.0x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is VSE Corporation's dividend yield?
VSE Corporation's current dividend yield is 0.18% with a payout ratio of 15.4%.
What are VSE Corporation's profit margins?
VSE Corporation has 11.9% gross margin and 11.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does VSE Corporation have?
VSE Corporation's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.