VSE Corporation | Mid-cap | Industrials
$154.96
-2.61%
| VSE Stock Comparison:
VSE vs General ElectricVSE vs RTXVSE vs CaeVSE vs StandardAeroVSE vs Archer AviationVSE vs S&P 500 | Market
TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 272.1M
Gross Profit 31.0M 11.40%
Operating Income 22.5M 8.27%
Net Income 3.2M 1.17%
EPS (Diluted) $0.15

Balance Sheet Metrics

Total Assets 1.7B
Total Liabilities 757.2M
Shareholders Equity 975.7M
Debt to Equity 0.78

Cash Flow Metrics

Operating Cash Flow -68.1M
Free Cash Flow -49.5M

Revenue & Profitability Trend

VSE Income Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Revenue i 1.1B 860.5M 669.4M 481.4M 661.7M
Cost of Goods Sold i 971.9M 764.9M 612.2M 480.6M 603.8M
Gross Profit i 108.2M 95.6M 57.2M 749.0K 57.9M
Gross Margin % i 10.0% 11.1% 8.6% 0.2% 8.7%
Operating Expenses
Research & Development i - - - - -
Selling, General & Administrative i 14.6M 7.6M 3.6M 3.5M 3.1M
Other Operating Expenses i - - - - -
Total Operating Expenses i 14.6M 7.6M 3.6M 3.5M 3.1M
Operating Income i 93.6M 88.0M 53.6M -2.7M 54.8M
Operating Margin % i 8.7% 10.2% 8.0% -0.6% 8.3%
Non-Operating Items
Interest Income i - - - - -
Interest Expense i 34.9M 31.1M 17.9M 12.1M 13.5M
Other Non-Operating Income -12.2M - - - -40.8M
Pre-tax Income i 46.5M 56.9M 35.7M -14.8M 427.0K
Income Tax i 10.0M 13.8M 9.1M -3.8M 5.6M
Effective Tax Rate % i 21.5% 24.2% 25.3% 0.0% 1,311.0%
Net Income i 15.3M 39.1M 28.1M 8.0M -5.2M
Net Margin % i 1.4% 4.5% 4.2% 1.7% -0.8%
Key Metrics
EBITDA i 122.4M 111.4M 78.2M 21.9M 78.9M
EPS (Basic) i $1.77 $2.77 $2.20 $0.63 $-0.47
EPS (Diluted) i $1.77 $2.76 $2.19 $0.63 $-0.47
Basic Shares Outstanding i 20590496 14130334 12780117 12551459 11034256
Diluted Shares Outstanding i 20590496 14130334 12780117 12551459 11034256

Income Statement Trend

VSE Balance Sheet From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Assets
Current Assets
Cash & Equivalents i 29.0M 7.8M 305.0K 518.0K 378.0K
Short-term Investments i - - - - -
Accounts Receivable i 197.6M 128.0M 90.6M 76.6M 55.5M
Inventory i 576.3M 500.9M 380.4M 322.7M 253.4M
Other Current Assets 42.0M 36.4M 15.2M 14.9M 11.5M
Total Current Assets i 874.8M 774.0M 548.9M 464.0M 355.0M
Non-Current Assets
Property, Plant & Equipment i 53.3M 28.7M 21.6M 27.3M 20.5M
Goodwill i 1.2B 817.7M 521.1M 605.8M 579.8M
Intangible Assets i 197.3M 114.1M 86.6M 108.3M 103.6M
Long-term Investments - - - - -
Other Non-Current Assets 32.1M 23.6M 85.0M 42.6M 16.7M
Total Non-Current Assets i 859.8M 576.3M 450.9M 454.6M 425.1M
Total Assets i 1.7B 1.4B 999.8M 918.6M 780.1M
Liabilities
Current Liabilities
Accounts Payable i 187.6M 173.0M 128.5M 115.1M 72.7M
Short-term Debt i 36.9M 27.5M 13.2M 20.2M 24.4M
Current Portion of Long-term Debt - - - - -
Other Current Liabilities 14.4M 63.5M 61.5M 7.4M 5.9M
Total Current Liabilities i 281.8M 286.9M 224.6M 180.0M 139.2M
Non-Current Liabilities
Long-term Debt i 448.3M 431.8M 295.5M 297.6M 253.5M
Deferred Tax Liabilities i 0 7.0M 4.8M 9.1M 14.9M
Other Non-Current Liabilities 9.0M - - 250.0K 83.0K
Total Non-Current Liabilities i 464.6M 446.7M 325.7M 321.3M 284.5M
Total Liabilities i 746.4M 733.6M 550.3M 501.2M 423.8M
Equity
Common Stock i 1.0M 788.0K 641.0K 636.0K 553.0K
Retained Earnings i 392.5M 384.7M 351.3M 328.4M 325.1M
Treasury Stock i - - - - -
Other Equity - - - - -
Total Shareholders Equity i 988.2M 616.7M 449.5M 417.3M 356.3M
Key Metrics
Total Debt i 485.2M 459.3M 308.6M 317.7M 277.9M
Working Capital i 593.0M 487.1M 324.3M 284.0M 215.7M

Balance Sheet Composition

VSE Cash Flow Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Operating Activities
Net Income i 15.3M 39.1M 28.1M 8.0M -5.2M
Depreciation & Amortization i 28.8M 23.4M 24.6M 24.6M 24.1M
Stock-Based Compensation i 8.3M 7.7M 4.5M 3.9M 2.9M
Working Capital Changes i -106.1M -88.0M -53.9M -69.9M -20.9M
Operating Cash Flow i -50.2M -18.1M 3.1M -36.7M -4.0M
Investing Activities
Capital Expenditures i -20.7M -18.7M -11.2M -10.5M -1.6M
Acquisitions i -243.0M -218.6M 0 -53.3M 19.9M
Investment Purchases i - - - - -
Investment Sales i - - - - -
Investing Cash Flow i -263.7M -235.7M -2.4M -61.6M 20.2M
Financing Activities
Share Repurchases i - - - - -
Dividends Paid i -7.1M -5.4M -5.1M -4.4M -4.0M
Debt Issuance i 739.2M 844.3M 520.2M 491.6M 433.0M
Debt Repayment i -739.7M -699.9M -518.3M -458.3M -452.3M
Financing Cash Flow i 315.8M 265.0M -5.7M 79.4M -56.3M
Free Cash Flow i -51.7M -40.5M -3.2M -28.1M 31.3M
Net Change in Cash i 1.9M 11.2M -5.0M -19.0M -40.1M

Cash Flow Trend

VSE Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 48.55
Forward P/E 35.98
Price to Book 3.43
Price to Sales 2.68
PEG Ratio -0.25

Profitability Ratios

Profit Margin 1.51%
Operating Margin 8.64%
Return on Equity 7.25%
Return on Assets 4.80%

Financial Health

Current Ratio 3.73
Debt to Equity 42.61
Beta 1.39

Per Share Data

EPS (TTM) $3.35
Book Value per Share $47.37
Revenue per Share $62.76

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
vsec 3.4B 48.55 3.43 7.25% 1.51% 42.61
General Electric 323.5B 42.54 16.53 39.57% 18.64% 103.37
RTX 225.6B 37.20 3.63 10.32% 7.35% 67.86
Cae 9.1B 31.09 1.89 9.03% 8.75% 68.27
StandardAero 9.1B 67.92 3.62 7.25% 2.37% 101.76
Archer Aviation 7.7B -8.43 4.82 -60.83% 0.00% 4.86

Financial data is updated regularly. All figures are in the company's reporting currency.