VSE Corporation Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,112	786.26	544.02	669.45	481.38
Revenue Growth (YoY)	41.47%	44.53%	-18.74%	39.07%	-27.25%
Cost of Revenue	954.15	684.04	475.01	596.47	464.88
Gross Profit	158.13	102.22	69.01	72.97	16.5
Selling, General & Admin	13.34	13.63	7.12	3.64	3.45
Depreciation & Amortization Expenses	26	17.63	11.74	15.74	15.76
Other Operating Expenses	29.2	12.21	-	-	-
Total Operating Expenses	68.54	43.46	18.87	19.37	19.21
Operating Income	89.6	58.76	50.15	53.6	-2.71
Interest Expense	-20.56	-34.95	-31.09	-17.89	-12.06
Total Non-Operating Income (Expense)	-20.56	-34.95	-31.09	-17.89	-12.06
Pretax Income	69.04	23.81	19.06	35.71	-14.77
Provision for Income Taxes	15.55	4.41	4.5	9.05	-3.77
Net Income	11.7	15.32	39.13	28.06	7.97
Earnings From Discontinued Operations	-41.79	-4.08	24.57	1.4	18.97
Net Income to Common	11.7	15.32	39.13	28.06	7.97
Net Income Growth	-23.63%	-60.84%	39.47%	252.23%	-
Shares Outstanding (Basic)	21	18	14	13	13
Shares Outstanding (Diluted)	21	18	14	13	13
Shares Change (YoY)	18.15%	26.72%	10.58%	1.54%	14.49%
EPS (Basic)	0.55	0.86	2.77	2.09	-0.88
EPS (Diluted)	0.55	0.85	2.76	2.08	-0.87
EPS Growth	-35.29%	-69.20%	32.69%	-	-
Shares Outstanding	23.4	20.59	15.76	12.82	12.73
Free Cash Flow	5.71	-51.74	-40.5	-3.16	-28.12
Free Cash Flow Per Share	0.27	-2.88	-2.85	-0.25	-2.23
Dividends Per Share	0.400	0.400	0.400	0.400	0.370
Dividend Growth	-	-	-	8.11%	2.78%
Gross Margin	14.22%	13.00%	12.69%	10.90%	3.43%
Operating Margin	8.06%	7.47%	9.22%	8.01%	-0.56%
Profit Margin	4.81%	2.47%	2.68%	3.98%	-2.29%
FCF Margin	0.51%	-6.58%	-7.44%	-0.47%	-5.84%
EBITDA	129.52	87.52	73.56	78.21	21.88
EBITDA Margin	11.64%	11.13%	13.52%	11.68%	4.55%
EBIT	89.6	58.76	50.15	53.6	-2.71
EBIT Margin	8.06%	7.47%	9.22%	8.01%	-0.56%
Effective Tax Rate	22.52%	18.51%	23.58%	25.35%	25.51%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q