VSE Corporation (VSEC)
NASDAQ: VSEC · Real-Time Price · USD
190.23
+17.42 (10.08%)
Nov 9, 2026, 2:37 PM EST - Market open
VSE Corporation Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | 118.41 | 11.7 | 15.32 | 39.13 | 28.06 | 7.97 |
Depreciation & Amortization | 77.05 | 39.92 | 28.76 | 23.42 | 24.6 | 24.59 |
Other Amortization | 2.4 | 1.46 | 1.33 | 1.54 | 0.97 | 1.01 |
Loss (Gain) From Sale of Assets | 0.25 | 0.05 | 0.48 | - | 0.12 | -0.06 |
Asset Writedown & Restructuring Costs | 47.05 | 47.05 | 19.4 | - | - | - |
Stock-Based Compensation | 15.92 | 12.84 | 8.32 | 7.74 | 4.47 | 3.93 |
Other Operating Activities | 24.46 | 27.1 | 2.21 | -1.24 | -0.05 | 20.06 |
Change in Accounts Receivable | -39.44 | -35.1 | -32.46 | -20.78 | -33.03 | -14.96 |
Change in Inventory | -178.76 | -56.87 | -31.67 | -87.53 | -59.1 | -80.02 |
Change in Accounts Payable | 32.56 | -10.93 | -31.76 | 23.91 | 36.19 | 33.21 |
Change in Other Net Operating Assets | 6.08 | -10.23 | -10.98 | -8.03 | 5.82 | -13.33 |
Operating Cash Flow | 58.93 | 26.99 | -31.04 | -21.83 | 8.05 | -17.6 |
Operating Cash Flow Growth | 31.76% | - | - | - | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -31.47 | -21.28 | -20.7 | -18.67 | -11.21 | -10.52 |
Sale of Property, Plant & Equipment | - | - | - | - | - | 0.07 |
Cash Acquisitions | -2,177 | -394.14 | -283.12 | -218.58 | - | -54.09 |
Divestitures | 0.16 | 138.97 | 40.16 | - | - | - |
Sale (Purchase) of Intangibles | -15.08 | - | - | - | - | - |
Other Investing Activities | 0.76 | - | - | 1.56 | 8.84 | 2.91 |
Investing Cash Flow | -2,223 | -276.45 | -263.67 | -235.69 | -2.38 | -61.63 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Long-Term Debt Issued | - | 667.34 | 739.24 | 844.26 | 520.22 | 491.57 |
Long-Term Debt Repaid | - | -803.59 | -739.74 | -699.87 | -518.35 | -458.29 |
Net Debt Issued (Repaid) | 534.17 | -136.25 | -0.5 | 144.39 | 1.88 | 33.27 |
Issuance of Common Stock | 1,716 | 442.17 | 326 | 130.02 | 0.9 | 52.02 |
Repurchase of Common Stock | -10.39 | -5.14 | -2.63 | -1.11 | -1.02 | -0.68 |
Common Dividends Paid | -10.02 | -8.26 | -7.06 | -5.44 | -5.11 | -4.43 |
Other Financing Activities | -9.04 | -2.73 | - | -2.89 | -2.36 | -0.81 |
Financing Cash Flow | 2,221 | 289.79 | 315.81 | 264.97 | -5.71 | 79.37 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Cash Flow | 57 | 40.33 | 21.1 | 7.45 | -0.04 | 0.14 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 27.46 | 5.71 | -51.74 | -40.5 | -3.16 | -28.12 |
Free Cash Flow Growth | 1.91% | - | - | - | - | - |
Free Cash Flow Margin | 1.70% | 0.51% | -6.58% | -7.44% | -0.47% | -5.84% |
Free Cash Flow Per Share | 0.64 | 0.27 | -2.88 | -2.85 | -0.25 | -2.23 |
Levered Free Cash Flow | -247.96 | 169.52 | -119.39 | -141.43 | 7.66 | -52.22 |
Unlevered Free Cash Flow | -238.01 | 180.9 | -98.88 | -123.54 | 17.87 | -45.7 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 26.85 | 26.85 | 37.08 | 35.04 | 16.42 | 12.15 |
Cash Income Tax Paid | 16.11 | 16.11 | 11.95 | 14 | 10.33 | 7.54 |
Change in Working Capital | -179.56 | -113.13 | -106.86 | -92.42 | -50.12 | -75.1 |