VSE CORP
VSE CORP
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 1,239 | 69 | 9 | 17 | 6 | 30 | 8 | 19 | 11 | 8 | 21 | 4 | |||||
Accounts Receivable Net Current | 217 | 191 | 176 | 183 | 170 | 158 | 163 | 168 | 145 | 128 | 129 | 114 | |||||
Unbilled Receivables Current | - | - | - | - | - | - | - | - | - | - | 6 | 6 | |||||
Contract With Customer Asset Net | 46 | 41 | 34 | 34 | 31 | 30 | 30 | 29 | 11 | 8 | - | - | |||||
Inventory Finished Goods | 626 | 554 | 464 | 463 | 441 | 434 | 534 | 532 | 521 | 501 | 494 | 428 | |||||
Other Assets Current | - | - | - | - | - | - | 41 | 48 | 55 | 36 | 22 | 15 | |||||
Prepaid Expense And Other Assets Current | 34 | 38 | 39 | 56 | 62 | 31 | - | - | - | 36 | - | - | |||||
Assets Of Disposal Group Including Discontinued Op… | - | 0 | 0 | 0 | 260 | 283 | 0 | 0 | 0 | 93 | 98 | 107 | |||||
Assets Current | 2,161 | 893 | 722 | 754 | 969 | 965 | 775 | 796 | 743 | 774 | 770 | 674 | |||||
Assets Noncurrent | |||||||||||||||||
Property Plant And Equipment Net | 94 | 91 | 83 | 80 | 71 | 71 | 75 | 73 | 67 | 58 | 53 | 44 | |||||
Intangible Assets Net Excluding Goodwill | 319 | 296 | 202 | 209 | 191 | 197 | 161 | 165 | 111 | 114 | 119 | 83 | |||||
Goodwill | 639 | 641 | 429 | 429 | 424 | 428 | 391 | 390 | 351 | 352 | 346 | 222 | |||||
Operating Lease Right Of Use Asset | 48 | 50 | 43 | 44 | 45 | 43 | 34 | 34 | 35 | 29 | 25 | 20 | |||||
Notes And Loans Receivable Net Noncurrent | 28 | 27 | 26 | 25 | - | 0 | - | 0 | - | - | - | - | |||||
Other Assets Noncurrent | 22 | 30 | 55 | 39 | 33 | 38 | 29 | 35 | 30 | 24 | 30 | 30 | |||||
Disposal Group Including Discontinued Operation Ot… | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Assets | 3,311 | 2,029 | 1,560 | 1,602 | 1,733 | 1,743 | 1,464 | 1,494 | 1,337 | 1,350 | 1,343 | 1,073 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Long Term Debt Current | 30 | 8 | 8 | 8 | 6 | 30 | 30 | 30 | 30 | 23 | 19 | 10 | |||||
Accounts Payable Current | 148 | 155 | 112 | 140 | 141 | 145 | 123 | 145 | 155 | 173 | 138 | 105 | |||||
Accrued Liabilities Current | 66 | 73 | 61 | 52 | 47 | 53 | 56 | 49 | 36 | 36 | 33 | 30 | |||||
Dividends Payable Current | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | 0 | 0 | 0 | 53 | 68 | 0 | 0 | 0 | 53 | 60 | 64 | |||||
Liabilities Current | 246 | 238 | 183 | 202 | 248 | 299 | 210 | 226 | 223 | 287 | 252 | 210 | |||||
Liabilities Noncurrent | |||||||||||||||||
Long Term Debt Noncurrent | 331 | 285 | 349 | 372 | 459 | 400 | 420 | 434 | 452 | 407 | 442 | 365 | |||||
Deferred Compensation Liability Classified Noncurr… | 5 | 6 | 7 | 8 | 7 | 7 | 8 | 8 | 8 | 8 | 7 | 8 | |||||
Operating Lease Liability Noncurrent | 42 | 44 | 38 | 38 | 39 | 39 | 29 | 37 | 31 | 25 | 22 | 18 | |||||
Disposal Group Including Discontinued Operation Ot… | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Deferred Income Tax Liabilities Net | 17 | 12 | - | - | - | 0 | 0 | 4 | 7 | 7 | 10 | 4 | |||||
Other Liabilities Noncurrent | 4 | 5 | 0 | 3 | 3 | 9 | 9 | 5 | 3 | 0 | 0 | - | |||||
Liabilities | 644 | 590 | 577 | 623 | 757 | 754 | 676 | 713 | 724 | 734 | 733 | 604 | |||||
Stockholders Equity | |||||||||||||||||
Common Stock Value | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Additional Paid In Capital Common Stock | 2,242 | 1,041 | 597 | 595 | 592 | 592 | 405 | 404 | 231 | 229 | 227 | 96 | |||||
Retained Earnings Accumulated Deficit | 422 | 396 | 384 | 383 | 381 | 392 | 382 | 372 | 377 | 385 | 375 | 367 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | 1 | 1 | 1 | 1 | 2 | 3 | 0 | 5 | 5 | 2 | 7 | 5 | |||||
Stockholders Equity | 2,666 | 1,439 | 983 | 980 | 976 | 988 | 788 | 781 | 613 | 617 | 610 | 469 | |||||
Liabilities And Stockholders Equity | 3,311 | 2,029 | 1,560 | 1,602 | 1,733 | 1,743 | 1,464 | 1,494 | 1,337 | 1,350 | 1,343 | 1,073 | |||||
Allowance For Doubtful Accounts Receivable Current | 7 | - | 5 | 5 | 5 | - | 7 | 5 | 5 | - | 4 | 3 | |||||
Accumulated Depreciation Depletion And Amortizatio… | 38 | - | 31 | 27 | 24 | - | 45 | 43 | 47 | - | 35 | -34 | |||||
Finite Lived Intangible Assets Accumulated Amortiz… | 112 | - | 94 | 87 | 80 | - | 79 | 74 | 70 | - | 132 | -129 | |||||
Common Stock Par Or Stated Value Per Share | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||
Common Stock Shares Authorized | 44 | 44 | 44 | 44 | 46 | 44 | 46 | 46 | 46 | 46 | 46 | 46 | |||||
Common Stock Shares Issued | 28 | 23 | 21 | 21 | 21 | 21 | 18 | 18 | 16 | 16 | 16 | 13 | |||||
Shares Outstanding | 28 | 23 | 21 | 21 | 21 | 21 | 18 | 18 | 16 | 16 | 16 | 13 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.09% | 13.95% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 2.21% | 2.34% | 7.46% | 6.68% | 2.81% | 1.93% | -6.43% | -2.07% | 19.36% | -21.91% | -0.21% | -25.23% |
| 2024 | 1.46% | 9.42% | 13.77% | 8.02% | 3.74% | 23.63% | 0.68% | -16.88% | -8.80% | 2.83% | 0.46% | 11.80% |
| 2023 | - | - | - | 0.63% | 11.41% | 3.03% | 7.23% | 8.58% | -0.03% | 4.28% | -0.93% | 2.13% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 8.78 | 3.76 | 3.94 | 3.73 | 3.90 | 3.23 | 3.69 | 3.53 | 3.33 | 2.70 | 3.06 | 3.21 | |||||
| Quick Ratio | 6.10 | 1.27 | 1.20 | 1.16 | 1.88 | 1.68 | 1.15 | 1.17 | 0.99 | 0.83 | 1.09 | 1.17 | |||||
| Working Capital | 1.91B | 655.82M | 538.93M | 551.57M | 720.56M | 666.85M | 565.19M | 570.73M | 520.05M | 487.14M | 518.22M | 464.00M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.24 | 0.41 | 0.59 | 0.64 | 0.78 | 0.76 | 0.86 | 0.91 | 1.18 | 1.19 | 1.20 | 1.29 | |||||
| Interest Coverage TTM | 4.46 | 3.14 | 2.22 | 2.22 | 1.58 | 1.33 | 1.26 | 1.37 | 1.82 | 1.98 | 2.87 | 2.89 | |||||
| Debt Ratio | 0.19 | 0.29 | 0.37 | 0.39 | 0.44 | 0.43 | 0.46 | 0.48 | 0.54 | 0.54 | 0.55 | 0.56 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.47 | 0.59 | 0.69 | 0.62 | 0.57 | 0.51 | 0.57 | 0.64 | 0.70 | 0.73 | 0.63 | 0.66 | |||||
| Days Sales Outstanding TTM | 59.66 | 57.24 | 59.59 | 66.87 | 65.32 | 66.40 | 67.05 | 62.70 | 56.64 | 46.35 | 55.34 | 59.62 | |||||
| Receivables Turnover TTM | 6.12 | 6.38 | 6.13 | 5.46 | 5.59 | 5.50 | 5.44 | 5.82 | 6.44 | 7.87 | 6.60 | 6.12 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 1.79 | 0.55 | 0.54 | 0.91 | 0.62 | 0.85 | 0.75 | 0.68 | 1.47 | 2.76 | 2.15 | 2.50 | |||||
| Free Cash Flow Per Share TTM | -0.49 | 0.27 | 1.30 | 0.64 | -0.70 | -2.89 | -4.55 | -4.52 | -4.80 | -2.87 | -3.47 | -4.00 | |||||
| Dividend Per Share TTM | 0.31 | 0.39 | 0.40 | 0.39 | 0.37 | 0.39 | 0.36 | 0.35 | 0.36 | 0.38 | 0.34 | 0.40 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 47.71% | 46.96% | 47.51% | 48.16% | 48.96% | 48.51% | 43.07% | 37.63% | 32.51% | 29.61% | 22.20% | 20.53% | |||||
| Operating Profit Margin TTM | 8.29% | 8.06% | 7.47% | 9.12% | 7.68% | 7.47% | 8.01% | 8.37% | 10.41% | 10.23% | 10.84% | 10.35% | |||||
| Net Profit Margin TTM | 4.21% | 1.05% | 1.08% | 1.97% | 1.47% | 1.95% | 1.75% | 1.43% | 2.81% | 4.55% | 4.46% | 4.87% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 34.20% | 41.46% | 30.76% | 16.71% | 5.47% | -8.63% | 9.36% | 24.10% | 33.10% | 28.54% | -6.72% | -18.42% | |||||
| Net Income Growth (1Y) | 283.67% | -23.63% | -19.25% | 60.83% | -44.62% | -60.84% | -57.17% | -63.48% | -24.33% | 39.47% | 10.08% | 11.12% | |||||
| EPS Growth (1Y) | 187.68% | -35.41% | -28.05% | 33.46% | -57.61% | -69.05% | -65.13% | -72.56% | -38.42% | 26.14% | -6.09% | 10.19% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 101.86 | 311.63 | 306.40 | 142.57 | 190.16 | 110.44 | 109.31 | 127.75 | 53.52 | 23.10 | 23.10 | 21.57 | |||||
| P/B TTM | 1.90 | 2.53 | 3.49 | 2.76 | 2.53 | 1.71 | 1.92 | 1.93 | 2.04 | 1.47 | 1.23 | 1.48 | |||||
| P/S TTM | 4.29 | 3.28 | 3.30 | 2.81 | 2.80 | 2.15 | 1.91 | 1.83 | 1.50 | 1.05 | 1.03 | 1.05 | |||||
| Market Cap | 5.07B | 3.65B | 3.43B | 2.70B | 2.46B | 1.69B | 1.52B | 1.50B | 1.25B | 904.18M | 748.02M | 695.34M | |||||
| Enterprise Value | 4.19B | 3.91B | 3.78B | 3.06B | 2.92B | 2.09B | 1.96B | 1.95B | 1.72B | 1.33B | 1.19B | 1.07B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -13.51M | 5.71M | 26.95M | 13.32M | -14.46M | -51.74M | -83.78M | -77.53M | -75.77M | -40.50M | -52.11M | -51.51M | |||||
| Net Debt | -878.43M | 259.64M | 347.31M | 362.25M | 454.50M | 401.14M | 442.43M | 444.52M | 471.05M | 421.41M | 439.94M | 370.77M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
VSE CORP (VSEC) — SEC Financial Statements & Analysis
VSE CORP (VSEC) is a services-engineering services company, incorporated in DE. VSE CORP trades on VSECU: Nasdaq as: VSEC: Nasdaq. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), VSE CORP reported a 34.20% year-over-year revenue growth, a Gross Profit Margin of 47.71% (TTM), a Debt-to-Equity ratio of 0.24x, a Price-to-Sales (P/S) ratio of 4.29x (TTM), a Price-to-Book (P/B) ratio of 1.9 (TTM), at a market cap of $5.07B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 34.20%
- Gross Profit Margin TTM
- 47.71%
- Debt To Equity
- 0.24x
- P/S TTM
- 4.29x
- P/B TTM
- 1.9
- Market Cap
- $5.07B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is VSE CORP in?
VSE CORP (VSEC) operates in the Services-Engineering Services industry.
What is VSEC's market cap?
VSE CORP (VSEC) has a market capitalization of $5.07B as of 2026-03-31.
What is VSEC's P/E ratio?
VSE CORP (VSEC)'s trailing twelve month P/E ratio is 101.86x as of 2026-03-31.
What exchange does VSEC trade on?
VSE CORP (VSEC) trades on the VSECU: Nasdaq.
Where is VSE CORP incorporated?
VSE CORP is incorporated in DE.