VSE Corporation Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	8.78	29.03	7.77	0.31	0.52	0.38
Cash & Short-Term Investments	8.78	29.03	7.77	0.31	0.52	0.38
Cash Growth	11.09%	273.71%	2446.88%	-41.12%	37.04%	-48.50%
Accounts Receivable	210.43	227.52	136.01	98.01	108.47	77.83
Receivables	210.43	227.52	136.01	98.01	111.29	80.55
Inventory	464.32	576.32	500.86	380.44	322.7	253.42
Prepaid Expenses	38.76	41.96	36.39	-	-	-
Other Current Assets	-	-	93	70.13	29.48	20.61
Total Current Assets	722.28	874.83	774.03	548.88	463.99	354.96
Property, Plant & Equipment	125.96	138.91	86.76	62.06	69.81	56.88
Long-Term Investments	1.59	4.09	2.84	6.62	-	-
Goodwill	428.71	491.45	351.78	217.26	248.75	238.13
Other Intangible Assets	201.85	197.28	114.13	86.56	108.26	103.6
Other Long-Term Assets	53.72	28.05	20.8	78.41	27.74	16.67
Total Assets	1,560	1,735	1,350	999.79	918.56	780.08
Accounts Payable	112.43	187.59	173.04	128.5	115.06	72.68
Accrued Expenses	54.11	34	21.75	20.18	28.91	24.28
Current Portion of Long-Term Debt	8.19	30	22.5	10	14.16	21.98
Current Portion of Leases	-	6.89	4.96	3.18	5.99	4.01
Current Income Taxes Payable	-	0.84	0.12	-	-	-
Current Unearned Revenue	6.56	4.48	2.79	-	7.15	9.86
Other Current Liabilities	2.07	18.05	61.74	62.74	8.69	6.41
Total Current Liabilities	183.35	281.84	286.89	224.6	179.96	139.23
Long-Term Debt	348.6	400.17	406.84	276.3	270.41	230.71
Long-Term Leases	37.61	48.14	24.96	19.15	27.17	22.82
Long-Term Deferred Tax Liabilities	-	-	6.99	4.76	9.11	14.9
Other Long-Term Liabilities	7.55	16.27	7.94	25.45	14.58	16.11
Total Liabilities	577.11	746.43	733.61	550.26	501.23	423.76
Common Stock	1.03	1.03	0.79	0.64	0.64	0.55
Additional Paid-In Capital	597.21	591.6	229.1	92.62	88.52	31.87
Retained Earnings	384.42	392.48	384.7	351.3	328.36	325.1
Comprehensive Income & Other	0.68	3.07	2.13	4.97	-0.18	-1.2
Shareholders' Equity	983.34	988.19	616.73	449.53	417.33	356.32
Total Liabilities & Equity	1,560	1,735	1,350	999.79	918.56	780.08
Total Debt	394.39	485.21	459.26	308.64	317.73	279.52
Net Cash (Debt)	-385.61	-456.18	-451.49	-308.33	-317.21	-279.15
Net Cash Per Share	-18.70	-25.38	-31.83	-24.04	-25.11	-25.30
Filing Date Shares Outstanding	20.69	20.6	15.77	12.84	12.74	12.67
Total Common Shares Outstanding	20.69	20.59	15.76	12.82	12.73	11.06
Working Capital	538.93	592.98	487.14	324.27	284.03	215.73
Book Value Per Share	47.54	47.99	39.14	35.07	32.79	32.23
Tangible Book Value	352.79	299.45	150.81	145.71	60.32	14.6
Tangible Book Value Per Share	17.05	14.54	9.57	11.37	4.74	1.32
Land	-	1.45	1.62	1.62	4.73	4.73
Buildings	-	25.28	24.56	20.87	29.6	29.54
Machinery	-	78.68	49.52	44.26	67.46	59.81
Construction In Progress	-	16.72	13.68	-	-	-
Leasehold Improvements	-	10.1	6.15	4.44	7.16	3.14
Order Backlog	-	-	-	-	-	183

Source: S&P Global Market Intelligence. Standard template. Financial Sources.