VSE Corporation (VSEC)

VSE Corporation Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	1,253	1,080	860.49	669.45	481.38	661.66
Revenue Growth (YoY)	52.47%	25.53%	28.54%	39.07%	-27.25%	-12.09%
Cost of Revenue	1,102	954.18	750.5	596.47	464.88	586.27
Gross Profit	150.93	125.95	109.99	72.97	16.5	75.39
Selling, General & Admin	9.4	5.48	3.92	3.64	2.95	3.12
Operating Expenses	32.09	23.23	18.3	19.37	18.71	20.62
Operating Income	118.84	102.72	91.7	53.6	-2.21	54.76
Interest Expense	-30.31	-34.94	-31.08	-17.89	-12.06	-13.5
EBT Excluding Unusual Items	88.53	67.79	60.61	35.71	-14.27	41.27
Merger & Restructuring Charges	-9.2	-12.8	-3.7	-	-0.5	-
Impairment of Goodwill	-	-	-	-	-	-30.9
Gain (Loss) on Sale of Assets	-	-	-	-	-	-7.11
Asset Writedown	0.55	-8.51	-	-	-	-2.83
Pretax Income	79.88	46.48	56.91	35.71	-14.77	0.43
Income Tax Expense	16.03	9.98	13.76	9.05	-3.77	5.6
Earnings From Continuing Operations	63.85	36.5	43.15	26.66	-11	-5.17
Earnings From Discontinued Operations	-44.91	-21.17	-4.02	1.4	18.97	-
Net Income	18.94	15.32	39.13	28.06	7.97	-5.17
Net Income to Common	18.94	15.32	39.13	28.06	7.97	-5.17
Net Income Growth	60.83%	-60.84%	39.47%	252.23%	-	-
Shares Outstanding (Basic)	20	18	14	13	13	11
Shares Outstanding (Diluted)	20	18	14	13	13	11
Shares Change (YoY)	25.29%	26.72%	10.58%	1.54%	14.49%	-0.10%
EPS (Basic)	0.95	0.86	2.77	2.20	0.63	-0.47
EPS (Diluted)	0.95	0.85	2.76	2.19	0.63	-0.47
EPS Growth	31.62%	-69.09%	25.93%	244.93%	-	-
Free Cash Flow	13.32	-51.74	-40.5	-3.16	-28.12	31.33
Free Cash Flow Per Share	0.66	-2.88	-2.85	-0.25	-2.23	2.84
Dividend Per Share	0.400	0.400	0.400	0.400	0.370	0.360
Dividend Growth	-	-	-	8.11%	2.78%	2.86%
Gross Margin	12.04%	11.66%	12.78%	10.90%	3.43%	11.39%
Operating Margin	9.48%	9.51%	10.66%	8.01%	-0.46%	8.28%
Profit Margin	1.51%	1.42%	4.55%	4.19%	1.65%	-0.78%
Free Cash Flow Margin	1.06%	-4.79%	-4.71%	-0.47%	-5.84%	4.74%
EBITDA	154.27	131.49	115.11	78.21	22.38	78.9
EBITDA Margin	12.31%	12.17%	13.38%	11.68%	4.65%	11.92%
D&A For EBITDA	35.43	28.76	23.42	24.6	24.59	24.14
EBIT	118.84	102.72	91.7	53.6	-2.21	54.76
EBIT Margin	9.48%	9.51%	10.66%	8.01%	-0.46%	8.28%
Effective Tax Rate	20.07%	21.48%	24.18%	25.35%	-	1311.01%
Revenue as Reported	1,253	1,080	860.49	669.45	481.38	661.66

Updated Jul 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q