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VSE Corporation

VSE Corporation

VSEC
VSE CorporationUS flagNASDAQ Global Select
203.91
USD
+7.78
- -
4.66BMarket Cap

Income Statement (USD)

MCPAPIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
As of date
12/31/2011
12/31/2012
12/31/2013
12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
12/31/2019
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
12/31/2025
Sales/Revenue/Turnover
581
547
472
424
534
692
760
697
753
662
481
669
544
786
1,112
+ Sales & Services Revenue
581
547
472
424
534
692
760
697
753
662
481
669
544
786
1,112
- Cost of Revenue
539
491
424
383
480
634
703
641
688
604
481
612
487
702
980
+ Cost of Goods & Services
539
491
424
383
480
634
703
641
688
604
481
612
487
702
980
Gross Profit
41
56
47
41
54
58
57
56
64
58
1
57
57
85
132
+ Other Operating Income
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- Operating Expenses
5
4
3
4
3
7
2
4
4
3
3
4
7
14
13
+ Selling, General & Admin
5
4
3
4
3
7
2
4
4
3
3
4
7
14
13
+ Research & Development
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Operating Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Income (Loss)
36
52
44
37
51
52
54
53
60
55
-3
54
50
71
119
- Non-Operating (Income) Loss
4
8
6
4
10
10
9
7
14
54
12
18
31
47
50
+ Interest Expense, Net
4
7
6
4
10
10
9
9
14
13
12
18
31
35
21
+ Interest Expense
4
7
6
4
10
10
9
9
14
13
12
18
31
35
21
- Interest Income
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Non-Op (Income) Loss
- -
1
- -
- -
- -
- -
- -
-2
- -
41
- -
- -
- -
12
29
Pretax Income
32
44
38
33
41
42
45
45
46
- -
-15
36
19
24
69
- Income Tax Expense (Benefit)
12
16
14
12
16
15
6
10
9
6
-4
9
4
4
16
- (Income) Loss from Affiliates
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Income (Loss) from Cont Ops
20
27
24
20
25
27
39
35
37
-5
-11
27
15
19
53
- Net Extraordinary Losses (Gains)
- -
6
1
1
- -
- -
- -
- -
- -
- -
-19
-1
-25
4
42
+ Discontinued Operations
- -
-6
-1
-1
- -
- -
- -
- -
- -
- -
19
1
25
-4
-42
+ Extraord. & Accounting Changes
-1
12
2
2
- -
- -
- -
- -
- -
- -
-38
-3
-49
8
84
Income (Loss) Incl. MI
21
21
23
19
25
27
39
35
37
-5
8
28
39
15
12
- Minority Interest
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
21
21
23
19
25
27
39
35
37
-5
8
28
39
15
12
- Preferred Dividends
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- Other Adjustments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income Avail to Common, GAAP
21
21
23
19
25
27
39
35
37
-5
8
28
39
15
12
EBIT
36
52
44
37
51
52
54
53
60
55
-3
54
50
71
119
EBITDA
51
73
64
56
76
78
80
78
87
79
22
78
74
100
159
EBITDA Margin (%)
8.81
13.4
13.59
13.13
14.25
11.21
10.55
11.15
11.58
11.92
4.55
11.68
13.52
12.68
14.27
EBITA
36
52
44
37
51
52
54
53
60
55
-3
54
50
71
119
Gross Margin (%)
7.11
10.25
10.05
9.68
10.08
8.4
7.47
8.07
8.56
8.75
0.16
8.55
10.53
10.76
11.88
Operating Margin (%)
6.21
9.53
9.35
8.71
9.46
7.45
7.15
7.53
8.01
8.28
-0.56
8.01
9.22
9.03
10.68
Profit Margin (%)
3.54
3.89
4.85
4.57
4.67
3.87
5.14
5.03
4.92
-0.78
1.65
4.19
7.19
1.95
1.05
Sales per Employee
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.13
0.15
0.17
0.19
0.21
0.23
0.26
0.3
0.34
0.36
0.35
0.4
0.38
0.34
0.35
Depreciation Expense
15
21
20
19
26
26
26
25
27
24
25
25
23
29
40
Basic Weighted Avg Shares
10
11
11
11
11
11
11
11
11
11
13
13
14
21
23
Basic EPS, GAAP
1.96
2.02
2.14
1.81
2.32
2.48
3.61
3.23
3.38
-0.47
0.63
2.2
2.77
0.74
0.5
Basic EPS from Cont Ops
1.93
2.59
2.25
1.91
2.32
2.48
3.61
3.23
3.38
-0.47
-0.88
2.09
1.03
0.94
2.29
Diluted Weighted Avg Shares
11
11
11
11
11
11
11
11
11
11
13
13
14
21
23
Diluted EPS, GAAP
1.95
2.01
2.14
1.8
2.31
2.47
3.6
3.21
3.35
-0.47
0.63
2.19
2.76
0.74
0.5
Diluted EPS from Cont Ops
1.92
2.58
2.24
1.91
2.31
2.47
3.6
3.21
3.35
-0.47
-0.87
2.08
1.03
0.94
2.29

Balance Sheet (USD)

MCPAPIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
As of date
12/31/2011
12/31/2012
12/31/2013
12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
12/31/2019
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
12/31/2025
Total Current Assets
178
146
129
122
197
258
249
281
355
355
464
549
774
965
893
+ Cash, Cash Equivalents & STI
- -
2
- -
- -
1
- -
1
- -
1
- -
1
- -
8
30
69
+ Cash & Cash Equivalents
- -
2
- -
- -
1
- -
1
- -
1
- -
1
- -
8
30
69
+ ST Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Accounts & Notes Receiv
118
91
78
59
78
101
98
101
117
81
111
98
136
188
232
+ Accounts Receivable, Net
48
41
37
59
78
101
56
60
71
55
77
91
128
158
191
+ Notes Receivable, Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
3
3
- -
- -
- -
- -
+ Loans Receivable, Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Receivable, Net
69
50
42
- -
- -
- -
43
41
46
22
32
7
8
30
41
+ Inventories
42
42
39
49
109
136
133
166
219
253
323
380
501
434
554
+ Raw Materials
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Work In Process
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Finished Goods
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Inventory Adjustments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Inventory
42
42
39
49
109
136
133
166
219
253
323
380
501
434
554
+ Other ST Assets
18
12
12
13
9
20
17
13
19
21
29
70
129
314
38
+ Misc ST Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Prepaid Expenses
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Derivative & Hedging Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Assets Held-for-Sale
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Deferred Tax Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Noncurrent Assets
276
264
251
233
420
403
380
358
491
425
455
451
576
777
1,135
+ Property, Plant & Equip, Net
57
62
58
53
64
62
55
50
64
57
70
62
87
114
141
+ Property, Plant & Equip
86
100
94
96
112
117
117
118
127
118
136
93
124
136
175
- Accumulated Depreciation
29
37
36
43
48
55
61
68
62
61
66
31
37
21
34
+ LT Investments & Receivables
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Receivables
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other LT Assets
219
202
193
180
356
341
325
308
426
368
385
389
490
663
994
+ Total Intangible Assets
205
184
174
164
342
326
310
294
409
342
357
304
466
625
937
+ Goodwill
99
92
92
92
199
199
199
199
276
238
249
217
352
428
641
+ Other Intangible Assets
107
92
82
72
143
127
111
95
132
104
108
87
114
197
296
+ LT Deferred Tax Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Derivative & Hedging Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc LT Assets
14
17
19
16
14
16
16
14
17
27
28
85
24
38
57
Total Assets
455
410
381
355
617
662
629
639
846
780
919
1,000
1,350
1,743
2,029
+ Payables & Accruals
85
57
57
53
70
127
107
95
72
76
121
136
182
164
185
+ Accounts Payable
50
30
32
29
40
94
66
57
68
73
115
129
173
145
155
+ Accrued Taxes
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
2
+ Interest & Dividends Payable
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Payables & Accruals
34
27
25
24
30
33
41
38
4
4
6
8
9
18
28
+ ST Debt
19
23
25
25
17
21
7
9
21
24
20
13
27
35
14
+ ST Borrowings
19
23
25
25
17
21
7
9
17
20
14
10
22
30
8
+ ST Finance Leases
- -
- -
- -
- -
- -
- -
- -
- -
4
4
6
3
5
5
6
+ Other ST Liabilities
4
1
- -
9
10
- -
- -
- -
71
38
39
75
77
100
39
+ Deferred Revenue
- -
- -
- -
- -
- -
- -
- -
- -
6
11
7
6
3
4
7
+ Derivatives & Hedging
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc ST Liabilities
4
1
- -
9
10
- -
- -
- -
65
27
32
69
75
95
32
Total Current Liabilities
107
81
82
87
97
148
114
105
164
139
180
225
287
298
238
+ LT Debt
179
144
90
48
238
216
186
170
278
254
298
295
432
440
329
+ LT Borrowings
145
116
64
24
215
194
166
151
253
231
270
276
407
400
285
+ LT Finance Leases
34
27
26
25
23
22
21
19
24
23
27
19
25
39
44
+ Other LT Liabilities
25
21
22
14
53
43
36
36
41
31
24
30
15
16
23
+ Accrued Liabilities
8
11
11
14
43
43
36
36
36
31
23
12
15
7
18
+ Pension Liabilities
8
- -
11
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Deferred Revenue
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Derivatives & Hedging
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc LT Liabilities
8
10
-1
- -
10
- -
- -
- -
5
- -
- -
18
- -
9
5
Total Noncurrent Liabilities
204
165
112
62
291
258
222
206
319
285
321
326
447
456
352
Total Liabilities
311
246
194
150
388
407
336
310
483
424
501
550
734
754
590
+ Preferred Equity and Hybrid Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Share Capital & APIC
17
18
19
21
22
23
25
27
30
32
89
93
230
593
1,043
+ Common Stock
- -
- -
- -
- -
1
1
1
1
1
1
1
1
1
1
1
+ Additional Paid in Capital
17
18
19
20
21
23
24
27
29
32
89
93
229
592
1,041
- Treasury Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Retained Earnings
127
147
168
185
207
232
268
301
334
325
328
351
385
392
396
+ Other Equity
-1
-1
- -
- -
- -
- -
- -
- -
-1
-1
- -
5
2
3
1
Equity Before Minority Interest
144
164
187
205
229
255
293
328
363
356
417
450
617
988
1,439
+ Minority/Non Controlling Interest
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Equity
144
164
187
205
229
255
293
328
363
356
417
450
617
988
1,439
Total Liabilities & Equity
455
410
381
355
617
662
629
639
846
780
919
1,000
1,350
1,743
2,029
Shares Outstanding
10
11
11
11
11
11
11
11
11
11
13
13
16
21
23
Number of Employees
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Capital Leases - Total
34
27
26
25
23
22
21
19
28
27
33
22
30
44
50
Net Debt
163
138
89
48
232
214
172
160
269
251
284
286
422
401
223
Net Debt to Equity
113.44
84.07
47.7
23.43
101.08
83.94
58.67
48.85
74.16
70.36
68.06
63.62
68.36
40.55
15.53
Tangible Common Equity Ratio
-24.82
-8.92
6.06
21.58
-40.72
-20.92
-5.14
10.1
-10.41
3.33
10.74
20.94
17.05
32.47
45.96
Current Ratio
1.66
1.8
1.58
1.4
2.04
1.74
2.18
2.68
2.16
2.55
2.58
2.44
2.7
3.23
3.76
Cash Conversion Cycle
-10.16
31
38.15
55.2
83.86
81.07
65.73
82.05
102.85
137.23
206.52
188.83
313.11
218
191.4

Cash Flow Statement (USD)

MCPAPIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
As of date
12/31/2011
12/31/2012
12/31/2013
12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
12/31/2019
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
12/31/2025
+ Net Income
21
21
23
19
25
27
39
35
37
-5
8
28
39
15
12
+ Depreciation & Amortization
15
21
20
19
26
26
26
25
27
24
25
25
23
29
40
+ Non-Cash Items
- -
4
2
8
3
- -
-7
- -
5
39
25
6
8
32
88
+ Stock-Based Compensation
1
1
2
2
2
2
3
3
3
3
4
4
8
8
13
+ Deferred Income Taxes
1
-1
-1
3
- -
-1
-11
-1
-1
- -
-4
-1
-2
-10
- -
+ Asset Impairment Charge
- -
9
1
- -
- -
- -
- -
- -
- -
34
- -
- -
- -
19
47
+ Other Non-Cash Adj
-2
-4
- -
3
- -
-1
- -
-2
2
2
25
2
2
14
29
+ Chg in Non-Cash Work Cap
-1
13
12
4
-15
-5
-7
-41
-51
-22
-75
-50
-92
-107
-113
+ (Inc) Dec in Accts Receiv
51
25
14
19
-8
-23
3
1
-8
27
-15
-33
-21
-32
-35
+ (Inc) Dec in Inventories
-5
- -
2
-10
-10
-27
4
-36
-44
-50
-80
-59
-88
-32
-57
+ (Inc) Dec in Prepaid Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3
-3
-7
-5
+ Inc (Dec) in Accts Payable
-44
-19
1
-2
2
59
-16
-10
9
2
28
40
19
-26
-19
+ Inc (Dec) in Other
-3
6
-6
-3
1
-14
2
3
-7
-2
-8
- -
- -
-10
2
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Operating Activities
35
60
57
50
38
47
50
19
18
36
-18
8
-22
-31
27
+ Change in Fixed & Intang
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Disp in Fixed & Intang
- -
- -
- -
- -
1
- -
1
- -
- -
3
- -
- -
- -
- -
- -
+ Disp of Fixed Prod Assets
- -
- -
- -
- -
1
- -
1
- -
- -
3
- -
- -
- -
- -
- -
+ Disp of Intangible Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Acq of Fixed & Intang
-7
-21
-4
-3
-11
-7
-4
-3
-10
-4
-11
-11
-19
-21
-21
+ Acq of Fixed Prod Assets
-7
-21
-4
-3
-11
-7
-4
-3
-10
-4
-11
-11
-19
-21
-21
+ Acq of Intangible Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Cash (Repurchase) of Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
52
1
130
326
442
+ Increase in Capital Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
52
1
130
326
442
+ Decrease in Capital Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Net Change in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Dec in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Inc in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Net Cash From Acq & Div
-175
-5
- -
- -
-195
- -
- -
2
-113
20
-53
- -
-219
-243
-255
+ Cash from Divestitures
- -
- -
- -
- -
- -
- -
- -
2
- -
20
- -
- -
- -
40
139
+ Cash for Acq of Subs
-175
-5
- -
- -
-195
- -
- -
- -
-113
- -
-53
- -
-219
-283
-394
+ Cash for JVs
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Investing Activities
- -
- -
- -
- -
- -
- -
- -
- -
- -
2
2
9
2
- -
- -
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Investing Activities
-182
-25
-4
-3
-205
-6
-3
-1
-123
20
-62
-2
-236
-264
-276
+ Dividends Paid
-1
-2
-2
-2
-2
-2
-3
-3
-4
-4
-4
-5
-5
-7
-8
+ Net Cash From Debt
146
-25
-51
-42
185
-20
-44
-12
110
-19
33
2
144
- -
-136
+ Cash From Debt
471
269
290
296
519
322
349
539
752
433
492
520
844
739
667
+ Repayments of Debt
-325
-294
-341
-337
-334
-341
-393
-552
-642
-452
-458
-518
-700
-740
-804
+ Other Financing Activities
-4
-7
- -
-2
-15
-19
- -
-2
-1
-33
-1
-3
-4
-3
-8
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Financing Activities
142
-33
-53
-46
168
-41
-47
-18
105
-56
79
-6
265
316
290
Effect of Foreign Exchange Rates
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Changes in Cash
-5
1
-1
- -
- -
- -
- -
- -
1
- -
- -
- -
7
21
40
EBITDA
51
73
64
56
76
78
80
78
87
79
22
78
74
100
159
EBITDA Margin (%)
8.81
13.4
13.59
13.13
14.25
11.21
10.55
11.15
11.58
11.92
4.55
11.68
13.52
12.68
14.27
Free Cash Flow
28
39
52
46
27
41
47
16
8
31
-28
-3
-40
-52
6
Net Cash Paid for Acquisitions
175
5
- -
- -
195
- -
- -
-2
113
-20
53
- -
219
243
255
Free Cash Flow to Firm
30
43
56
49
33
47
55
23
19
-132
- -
10
-17
-23
22
Free Cash Flow to Equity
175
14
1
4
213
21
4
3
118
15
5
-1
104
-52
-131
Free Cash Flow per Basic Share
2.68
3.69
4.9
4.32
2.51
3.77
4.31
1.45
0.76
2.84
-2.24
-0.25
-2.87
-2.51
0.24
Price/Free Cash Flow
3.09
1.61
4.21
6.66
6.97
7.83
9.72
14.89
15.21
10.57
-108.7
31.22
-289.75
-189.51
83.75
Cash Flow to Net Income
1.69
2.81
2.48
2.57
1.51
1.76
1.29
0.54
0.49
-6.92
-2.21
0.29
-0.56
-2.03
2.31
Capital Expenditures
-7
-21
-4
-3
-11
-7
-4
-3
-10
-4
-11
-11
-19
-21
-21