VSE Corporation VSEC R2K

Industrials · Aerospace & Defense · United States

https://www.vsecorp.com

VSE Corporation engages in providing aviation aftermarket parts distribution and maintenance, repair, and overhaul services for air transportation assets for commercial and government markets. It offers its services to global client base of commercial airlines, regional airlines, air cargo transporters, MRO integrators and providers, aviation manufacturers, corporate and private aircraft owners, and fixed-base operators. The company was incorporated in 1959 and is headquartered in Miramar, Florida.

Market & Price

Market Cap

$5.19B

Current Price

$185.15

High / Low (52W)

$227.68 / $125.08

Beta

1.25

Valuation

Stock P/E

64.07

Industry PE

28.38

Forward P/E

31.87

PEG Ratio

3.00

Book Value

$61.49

Price to Book

3.01

P/S

4.40

EV/EBITDA

24.21

Dividend Yield

0.22%

Profitability & Returns

ROCE

5.00%

ROE

3.77%

ROA

3.40%

Profit Margin

4.21%

Op Margin

11.48%

EPS (Latest Qtr)

$1.04

EPS (TTM)

$2.89

Balance Sheet & Liquidity

Debt/Equity

0.15

Quick Ratio

6.10

Current Ratio

8.78

Debt

$402.80M

Total Assets

$2.03B

Current Assets

$893.33M

Working Capital

$655.82M

Ownership

Promoter Holding

1.80%

Chg in Prom Hold

FII / Inst Holding

130.34%

Chg in FII Hold

0.05%

Financial Snapshot

Enterprise Value

$4.36B

Total Revenue (TTM)

$1.18B

EBITDA

$180.00M

Free Cash Flow

$110.19M

Operating Cash Flow

$11.36M

Shares Outstanding

28.06M

Gross Margin

14.67%

Payout Ratio

13.84%

Growth (CAGR)

Revenue 5Y

18.44%

Profit 5Y

-25.28%

Revenue (YoY)

26.80%

Earnings (YoY)

PROS

Compounding revenue at 18.4% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 64.1.
Earnings shrank at -25.3% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	VSEC VSE Corporation R2K	185.15	64.07	$5.19B	0.22%	5.00%	3.77%	18.44%	-25.28%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	197.29M	193.86M	174.16M	194.79M	176.90M	170.39M	168.93M	181.00M	169.92M	189.11M	198.33M	195.27M	177.42M	168.72M	165.50M	150.02M	164.98M	175.11M	200.58M	231.24M	169.76M	167.38M	188.59M	205.22M	231.35M	162.38M	192.83M	-	-	256.05M	272.14M	282.91M	301.18M	324.58M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	229.23M	241.11M	248.85M	260.94M	285.63M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26.82M	31.03M	34.05M	40.24M	38.95M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.31M	8.52M	667.00K	7.75M	6.20M
Operating Income	13.24M	15.12M	12.74M	11.88M	13.62M	13.29M	14.20M	15.01M	12.24M	12.89M	11.59M	13.86M	15.70M	13.09M	11.81M	16.42M	17.21M	14.81M	9.73M	-21.91M	14.19M	11.91M	9.60M	-12.71M	13.89M	11.91M	10.54M	15.11M	16.78M	20.64M	25.26M	15.64M	2.60M	-	-	24.50M	22.51M	33.39M	32.49M	32.75M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34.41M	32.15M	20.28M	42.69M	45.49M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6.94M	7.94M	6.45M	4.34M	1.83M	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16.57M	16.07M	5.75M	30.66M	34.15M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.60M	2.43M	2.16M	8.36M	5.09M
Net Income	6.47M	7.75M	6.55M	5.97M	7.09M	7.18M	7.29M	7.81M	6.64M	17.36M	7.05M	8.75M	10.03M	9.24M	6.60M	9.90M	10.53M	10.00M	3.33M	-22.62M	8.11M	6.01M	5.11M	-12.37M	9.02M	6.24M	7.55M	9.42M	9.12M	8.86M	9.56M	-6.61M	-2.78M	-	-	-8.97M	3.20M	3.91M	13.57M	29.05M
Diluted EPS	0.60	0.72	0.61	0.55	0.65	0.66	0.67	0.72	0.61	1.59	0.65	0.80	0.92	0.84	0.60	0.89	0.95	0.90	0.30	-2.05	0.73	0.54	0.42	-0.97	0.71	0.49	0.59	0.73	0.71	0.68	0.63	-0.41	-0.16	-	-	-0.44	0.15	0.19	0.95	1.04

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	691.79M	760.11M	697.22M	752.63M	661.66M	-	669.45M	544.02M	786.26M	1.11B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	612.21M	486.75M	701.67M	980.14M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	57.24M	57.27M	84.59M	132.13M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	3.63M	7.12M	13.63M	13.34M
Operating Income	38.48M	37.94M	36.08M	51.08M	44.10M	36.93M	50.54M	51.53M	54.33M	54.23M	60.26M	13.92M	-	53.60M	50.15M	70.96M	118.80M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	78.21M	73.56M	87.52M	129.52M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	17.89M	31.09M	34.95M	20.56M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	35.71M	19.06M	23.81M	69.04M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	9.05M	4.50M	4.41M	15.55M
Net Income	24.02M	23.69M	20.55M	21.29M	22.85M	19.36M	24.92M	26.79M	39.10M	35.08M	37.02M	-5.17M	-	28.06M	39.13M	15.32M	11.70M
Diluted EPS	4.67	4.53	3.90	4.01	4.28	1.81	2.31	2.47	3.60	3.21	3.35	-0.47	0.63	2.19	2.76	1.77	-

Compounded Sales Growth

5 Years:	18.44%
1 Year:	26.80%

Compounded Profit Growth

5 Years:	-25.28%
1 Year:	-

Stock Price Performance

1 Year:	+42.66%
6 Months:	+1.83%
3 Months:	-18.42%
1 Month:	+15.60%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	288.43M	454.51M	410.21M	380.53M	355.33M	617.35M	661.84M	629.01M	638.83M	845.86M	780.08M	-	999.79M	1.35B	1.74B	2.03B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	548.88M	774.03M	965.35M	893.33M
Cash & Equivalents	-	8.02M	5.76M	451.00K	1.50M	220.00K	263.00K	740.00K	428.00K	624.00K	162.00K	734.00K	378.00K	-	305.00K	7.77M	29.50M	69.36M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	380.44M	500.86M	434.06M	553.83M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90.60M	127.96M	158.10M	190.73M
Total Liabilities	-	-	164.65M	310.91M	245.88M	193.73M	149.84M	388.05M	406.64M	335.92M	310.43M	482.76M	423.76M	-	550.26M	733.61M	754.44M	589.77M
Current Liabilities	-	-	119.29M	107.32M	81.00M	81.73M	87.50M	96.69M	148.44M	113.98M	104.88M	164.18M	139.23M	-	224.60M	286.89M	298.50M	237.51M
Long Term Debt	-	-	11.11M	144.76M	116.38M	64.49M	23.56M	215.24M	193.62M	165.61M	151.13M	253.13M	230.71M	-	276.30M	406.84M	400.17M	285.30M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	308.64M	459.26M	474.45M	342.80M
Total Equity	76.12M	101.31M	123.78M	143.60M	164.34M	186.80M	205.49M	229.31M	255.19M	293.10M	328.39M	363.10M	356.32M	-	449.53M	616.73M	988.19M	1.44B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12.82M	15.76M	20.59M	23.40M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	24.39M	17.96M	34.70M	59.81M	56.60M	49.72M	37.57M	47.19M	50.42M	18.86M	17.99M	35.76M	-	8.05M	-21.83M	-31.04M	26.99M
Investing Cash Flow	-10.28M	-35.01M	-181.58M	-25.47M	-4.42M	-3.41M	-205.19M	-6.47M	-3.01M	-1.29M	-122.81M	20.22M	-	-2.38M	-235.69M	-263.67M	-276.45M
Financing Cash Flow	-6.72M	14.79M	141.57M	-33.29M	-53.46M	-46.26M	168.09M	-41.04M	-47.21M	-18.02M	105.39M	-56.34M	-	-5.71M	264.97M	315.81M	289.79M
Capital Expenditure	-8.78M	-4.80M	-6.63M	-20.86M	-4.42M	-3.41M	-10.56M	-6.55M	-3.74M	-3.12M	-9.63M	-4.43M	-	-11.21M	-18.67M	-20.70M	-21.28M
Free Cash Flow	15.61M	13.15M	28.06M	38.94M	52.18M	46.30M	27.01M	40.65M	46.68M	15.74M	8.36M	31.33M	-	-3.16M	-40.49M	-51.74M	5.71M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-40.00K	7.45M	21.10M	40.33M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	8.6%	10.5%	10.8%	11.9%
Operating Margin %	-	-	-	-	-	-	-	7.4%	7.1%	7.8%	8.0%	2.1%	-	8.0%	9.2%	9.0%	10.7%
Net Margin %	-	-	-	-	-	-	-	3.9%	5.1%	5.0%	4.9%	-0.8%	-	4.2%	7.2%	1.9%	1.1%
ROE %	23.7%	19.1%	14.3%	13.0%	12.2%	9.4%	10.9%	10.5%	13.3%	10.7%	10.2%	-1.5%	-	6.2%	6.3%	1.6%	0.8%
ROCE %	-	22.4%	10.4%	15.5%	14.8%	13.8%	9.7%	10.0%	10.5%	10.2%	8.8%	2.2%	-	6.9%	4.7%	4.9%	6.6%

Shareholding Pattern

Insiders

1.80%

Institutions

130.34%

Public Float

132.73%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	16.06%	4.51M	$834.42M
2	T. Rowe Price Investment Management, Inc.	8.95%	2.51M	$464.99M
3	State Street Corporation	6.68%	1.88M	$347.16M
4	Durable Capital Partners Lp	5.01%	1.40M	$260.09M
5	Vanguard Capital Management LLC	4.20%	1.18M	$218.19M
6	Price (T.Rowe) Associates Inc	3.74%	1.05M	$194.18M
7	UBS Group AG	3.44%	964.50K	$178.58M
8	Vanguard Portfolio Management LLC	3.39%	950.90K	$176.06M
9	Capital Research Global Investors	3.34%	936.38K	$173.37M
10	Geode Capital Management, LLC	2.66%	746.88K	$138.28M

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VSEC · Industrials

VSE Corporation

About

Key Facts

Sector	Industrials
Industry	Aerospace & Defense
Headquarters	United States
Employees	1,600
Website	https://www.vsecorp.com

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VSE Corporation VSEC R2K

Market & Price

Valuation

Profitability & Returns

Balance Sheet & Liquidity

Ownership

Financial Snapshot

Growth (CAGR)

PROS

CONS

Price Chart

Technical Trend

Fundamental Growth

Peer comparison

Quarterly Results

Profit & Loss (Annual)

Compounded Sales Growth

Compounded Profit Growth

Stock Price Performance

Balance Sheet (Annual)

Cash Flows (Annual)

Ratios (Annual)

Shareholding Pattern

Top Institutional Holders

Analyst View

Latest News

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