VSE Corporation (VSEC)

VSE Corporation Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	1,358	1,112	786.26	544.02	669.45	481.38
Revenue Growth	41.55%	41.47%	44.53%	-18.74%	39.07%	-27.25%
Gross Profit Gross Profit Growth	212.1	158.13	102.22	69.01	72.97	16.5
Operating Income Operating Income Growth	164.78	125	80.06	53.85	53.6	-2.21
Net Income Net Income Growth	75.06	11.7	15.32	39.13	28.06	7.97
Earnings Per Share EPS Growth	2.92	0.55	0.85	2.76	2.19	0.63
EPS Growth	208.16%	-35.25%	-69.11%	26.17%	244.93%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Commercial Commercial Growth	1,342	1,108	779.01	539.59	403.16	245.38
Government Government Growth	15.9	4.18	7.25	4.43	4.96	2.47
Revenue (Total) Revenue (Total) Growth	1,358	1,112	786.26	544.02	669.45	481.38

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	75.36	69.36	29.51	7.77	0.31	0.52
Total Debt Total Debt Growth	1,026	343.36	474.45	459.26	308.64	317.73
Net Cash (Debt) Net Cash Growth	-950.31	-274	-444.95	-451.49	-308.33	-317.21
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-37.01	-12.90	-24.75	-31.83	-24.04	-25.11

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	27.02	26.99	-31.04	-21.83	8.05	-17.6
Capital Expenditures CapEx Growth	-28.14	-21.28	-20.7	-18.67	-11.21	-10.52
Free Cash Flow Free Cash Flow Growth	-1.12	5.71	-51.74	-40.5	-3.16	-28.12
Free Cash Flow Growth	-	-	-	-	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	15.62%	14.22%	13.00%	12.68%	10.90%	3.43%
Operating Margin	12.14%	11.24%	10.18%	9.90%	8.01%	-0.46%
Pretax Margin	8.09%	6.21%	3.03%	3.50%	5.33%	-3.07%
Profit Margin	5.53%	1.05%	1.95%	7.19%	4.19%	1.65%
FCF Margin	-0.08%	0.51%	-6.58%	-7.44%	-0.47%	-5.84%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 19, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.400	0.400	0.400	0.400	0.400	0.370
Dividend Per Share Growth	0%	0%	0%	0%	8.11%	2.78%
Dividend Yield	0.23%	0.23%	0.42%	0.63%	0.87%	0.62%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 19, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	53.83	345.34	126.67	26.00	21.39	97.25
Forward PE	23.70	44.08	26.28	17.88	14.27	16.56
P/FCF Ratio	-	707.91	-	-	-	-
PS Ratio	4.05	3.63	2.47	1.87	0.90	1.61

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Aug 6, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Sep 18, 2026

Data Sources Report a data error