VSE CORP (VSEC)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue301,182,000$282,909,000$272,139,000$256,045,000$227,403,000$203,642,000$192,828,000$162,383,000$(9,278,000$)231,353,000$205,223,000$188,587,000$171,988,000$167,379,000$169,761,000$231,239,000$(3,587,000$)200,582,000$175,112,000$164,981,000$150,021,000$165,505,000$168,715,000$177,418,000$195,271,000$198,326,000$189,111,000$169,919,000$180,996,000$168,931,000$170,394,000$176,897,000$194,795,000$174,164,000$193,860,000$197,294,000$214,901,000$172,780,000$160,473,000$143,636,000$144,669,000$137,396,000$131,126,000$120,791,000$94,951,000$101,749,000$107,962,000$119,409,000$
QoQ%6.46%3.96%6.29%12.60%11.67%5.61%18.75%1,850.19%(104.01%)12.73%8.82%9.65%2.75%(1.40%)(26.59%)6,546.59%(101.79%)14.55%6.14%9.97%(9.36%)(1.90%)(4.91%)(9.14%)(1.54%)4.87%11.30%(6.12%)7.14%(.86%)(3.68%)(9.19%)11.85%(10.16%)(1.74%)(8.19%)24.38%7.67%11.72%(.71%)5.29%4.78%8.56%27.21%(6.68%)(5.76%)(9.59%)(2.40%)
YoY%32.44%38.93%41.13%57.68%2,550.99%(11.98%)(6.04%)(13.90%)(105.40%)38.22%20.89%(18.45%)4,894.76%(16.55%)(3.06%)40.16%(102.39%)21.19%3.79%(7.01%)(23.17%)(16.55%)(10.79%)4.41%7.89%17.40%10.99%(3.95%)(7.08%)(3.01%)(12.11%)(10.34%)(9.36%).80%20.81%37.36%48.55%25.75%22.38%18.91%52.36%35.03%21.46%1.16%(22.39%)(8.39%)(9.32%).21%
Cost Of Revenue0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$160,481,000$176,653,000$157,667,000$174,372,000$178,650,000$195,175,000$154,483,000$142,433,000$125,494,000$125,076,000$119,625,000$114,571,000$105,307,000$75,473,000$93,388,000$96,481,000$107,611,000$
Gross Profit301,182,000$282,909,000$272,139,000$256,045,000$227,403,000$203,642,000$192,828,000$162,383,000$(9,278,000$)231,353,000$205,223,000$188,587,000$171,988,000$167,379,000$169,761,000$231,239,000$(3,587,000$)200,582,000$175,112,000$164,981,000$150,021,000$165,505,000$168,715,000$177,418,000$195,271,000$198,326,000$189,111,000$169,919,000$180,996,000$168,931,000$170,394,000$16,416,000$18,142,000$16,497,000$19,488,000$18,644,000$19,726,000$18,297,000$18,040,000$18,142,000$19,593,000$17,771,000$16,555,000$15,484,000$19,478,000$8,361,000$11,481,000$11,798,000$
Gross Margin100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%9.28%9.31%9.47%10.05%9.45%9.18%10.59%11.24%12.63%13.54%12.93%12.63%12.82%20.51%8.22%10.63%9.88%
Operating Expenses268,691,000$272,822,000$249,626,000$231,541,000$206,964,000$183,570,000$190,226,000$146,740,000$3,254,000$206,089,000$184,586,000$171,809,000$156,047,000$152,270,000$159,226,000$219,325,000$9,899,000$186,690,000$187,826,000$155,378,000$138,107,000$151,320,000$190,625,000$167,684,000$180,458,000$181,111,000$172,695,000$158,106,000$167,911,000$153,234,000$156,539,000$4,823,000$5,255,000$4,260,000$4,483,000$4,448,000$6,440,000$4,674,000$6,161,000$5,401,000$4,477,000$4,528,000$5,059,000$4,800,000$11,791,000$1,178,000$778,000$441,000$
Operating Income32,491,000$10,087,000$22,513,000$24,504,000$20,439,000$20,072,000$2,602,000$15,643,000$(12,532,000$)25,264,000$20,637,000$16,778,000$15,941,000$15,109,000$10,535,000$11,914,000$(13,486,000$)13,892,000$(12,714,000$)9,603,000$11,914,000$14,185,000$(21,910,000$)9,734,000$14,813,000$17,215,000$16,416,000$11,813,000$13,085,000$15,697,000$13,855,000$11,593,000$12,887,000$12,237,000$15,005,000$14,196,000$13,286,000$13,623,000$11,879,000$12,741,000$15,116,000$13,243,000$11,496,000$10,684,000$7,687,000$7,183,000$10,703,000$11,357,000$
Operating Margin10.79%3.57%8.27%9.57%8.99%9.86%1.35%9.63%135.07%10.92%10.06%8.90%9.27%9.03%6.21%5.15%375.97%6.93%(7.26%)5.82%7.94%8.57%(12.99%)5.49%7.59%8.68%8.68%6.95%7.23%9.29%8.13%6.55%6.62%7.03%7.74%7.20%6.18%7.89%7.40%8.87%10.45%9.64%8.77%8.85%8.10%7.06%9.91%9.51%
Interest Income0$0$0$0$0$0$0$0$0$0$
Interest Expenses1,833,000$4,339,000$6,445,000$7,939,000$6,944,000$8,987,000$9,826,000$9,187,000$9,278,000$8,459,000$7,366,000$5,980,000$5,588,000$4,821,000$3,873,000$3,609,000$3,587,000$2,780,000$2,666,000$3,030,000$3,408,000$3,530,000$3,072,000$3,486,000$3,568,000$3,706,000$3,398,000$3,158,000$2,285,000$2,340,000$2,182,000$2,175,000$2,082,000$2,347,000$2,376,000$2,435,000$2,449,000$2,509,000$2,400,000$2,497,000$2,543,000$2,441,000$2,417,000$2,143,000$400,000$366,000$586,000$692,000$
Income Before Tax30,658,000$5,748,000$16,068,000$16,565,000$13,495,000$11,085,000$(7,224,000$)6,453,000$(21,812,000$)16,805,000$13,271,000$10,798,000$10,353,000$10,288,000$6,663,000$8,305,000$(17,073,000$)11,112,000$(15,380,000$)6,573,000$8,506,000$10,655,000$(24,982,000$)6,248,000$11,245,000$13,509,000$13,018,000$8,655,000$10,800,000$13,357,000$11,673,000$9,418,000$10,805,000$9,890,000$12,629,000$11,761,000$10,837,000$11,114,000$9,479,000$10,244,000$12,573,000$10,802,000$9,079,000$8,541,000$6,862,000$6,312,000$9,613,000$10,160,000$
Tax Expenses8,362,000$2,157,000$2,430,000$2,597,000$3,089,000$2,343,000$(1,936,000$)911,000$(6,059,000$)4,694,000$3,182,000$2,678,000$2,437,000$2,589,000$1,908,000$2,061,000$(4,307,000$)2,091,000$(3,014,000$)1,462,000$2,493,000$2,547,000$(2,358,000$)2,916,000$1,249,000$2,982,000$3,120,000$2,052,000$1,557,000$3,323,000$2,922,000$2,366,000$(6,552,000$)3,251,000$4,822,000$4,468,000$3,653,000$4,026,000$3,510,000$3,692,000$4,828,000$4,328,000$3,600,000$3,321,000$2,473,000$2,425,000$3,669,000$3,891,000$
Net Income13,567,000$3,912,000$3,197,000$(8,973,000$)13,062,000$11,650,000$(2,777,000$)(6,611,000$)11,605,000$9,557,000$8,855,000$9,117,000$4,848,000$9,419,000$7,548,000$6,244,000$6,200,000$9,021,000$(12,366,000$)5,111,000$6,013,000$8,108,000$(22,624,000$)3,332,000$9,996,000$10,527,000$9,898,000$6,603,000$9,243,000$10,034,000$8,751,000$7,052,000$17,357,000$6,639,000$7,807,000$7,293,000$7,184,000$7,088,000$5,969,000$6,552,000$7,745,000$6,474,000$5,479,000$5,220,000$4,163,000$3,883,000$5,665,000$5,654,000$
Profit Margin4.51%1.38%1.18%(3.50%)5.74%5.72%(1.44%)(4.07%)(125.08%)4.13%4.32%4.83%2.82%5.63%4.45%2.70%(172.85%)4.50%(7.06%)3.10%4.01%4.90%(13.41%)1.88%5.12%5.31%5.23%3.89%5.11%5.94%5.14%3.99%8.91%3.81%4.03%3.70%3.34%4.10%3.72%4.56%5.35%4.71%4.18%4.32%4.38%3.82%5.25%4.74%
TTM1.05%1.08%1.97%1.47%1.95%2.52%2.04%3.97%6.35%4.06%4.40%4.43%3.79%5.21%4.85%1.51%1.48%1.13%1.05%(.52%)(.78%)(.17%).17%4.44%4.92%4.91%5.05%5.02%5.03%6.08%5.56%5.25%5.14%3.71%3.77%3.69%3.87%4.40%4.56%4.71%4.67%4.41%4.18%4.45%4.57%4.57%4.79%4.93%
Earnings to Minority
Earnings to Common Shareholders13,567,000$3,912,000$3,197,000$(8,973,000$)13,062,000$11,650,000$(2,777,000$)(6,611,000$)11,605,000$9,557,000$8,855,000$9,117,000$4,848,000$9,419,000$7,548,000$6,244,000$6,200,000$9,021,000$(12,366,000$)5,111,000$6,013,000$8,108,000$(22,624,000$)3,332,000$9,996,000$10,527,000$9,898,000$6,603,000$9,243,000$10,034,000$8,751,000$7,052,000$17,357,000$6,639,000$7,807,000$7,293,000$7,184,000$7,088,000$5,969,000$6,552,000$7,745,000$6,474,000$5,479,000$5,220,000$4,163,000$3,883,000$5,665,000$5,654,000$
QoQ%246.81%22.37%135.63%(168.70%)12.12%519.52%57.99%(156.97%)21.43%7.93%(2.87%)88.06%(48.53%)24.79%20.88%.71%(31.27%)172.95%(341.95%)(15.00%)(25.84%)135.84%(778.99%)(66.67%)(5.04%)6.36%49.90%(28.56%)(7.88%)14.66%24.09%(59.37%)161.44%(14.96%)7.05%1.52%1.35%18.75%(8.90%)(15.40%)19.63%18.16%4.96%25.39%7.21%(31.46%).20%4.59%
YoY%3.87%(66.42%)215.12%(35.73%)12.56%21.90%(131.36%)(172.51%)139.38%1.47%17.32%46.01%(21.81%)4.41%161.04%22.17%3.11%11.26%45.34%53.39%(39.85%)(22.98%)(328.57%)(49.54%)8.15%4.91%13.11%(6.37%)(46.75%)51.14%12.09%(3.31%)141.61%(6.34%)30.79%11.31%(7.24%)9.48%8.94%25.52%86.04%66.73%(3.28%)(7.68%)(22.99%)(27.09%)(17.44%)7.53%
Earnings Per Share, Basic0.60$0.19$0.15$(0.44$)0.65$0.63$(0.16$)(0.42$)0.74$0.64$0.69$0.71$0.38$0.74$0.59$0.49$0.49$0.71$(0.97$)0.42$0.54$0.73$(2.05$)0.30$0.91$0.96$0.90$0.60$0.85$0.92$0.80$0.65$1.60$0.61$0.72$0.67$0.67$0.66$0.55$0.61$0.72$0.60$0.51$0.49$0.78$0.72$1.06$1.06$
Earnings Per Share, Diluted0.60$0.19$0.15$(0.43$)0.64$0.63$(0.16$)(0.41$)0.73$0.64$0.69$0.71$0.38$0.73$0.59$0.49$0.48$0.71$(0.97$)0.42$0.54$0.73$(2.05$)0.30$0.90$0.95$0.89$0.60$0.84$0.92$0.80$0.65$1.59$0.61$0.72$0.67$0.66$0.65$0.55$0.61$0.72$0.60$0.51$0.49$0.77$0.72$1.06$1.05$
Unlevered FCF Per Share, Basic1.37$0.87$0.30$(2.40$)2.59$0.24$(1.25$)(5.50$)1.27$0.71$(1.53$)(4.01$)0.66$0.88$(0.27$)(1.53$)0.79$1.65$(1.63$)(3.19$)(0.09$)1.02$1.35$0.55$(0.13$)1.09$(0.40$)0.04$1.36$0.59$(1.63$)1.13$0.88$1.78$1.62$0.02$1.64$1.12$(0.28$)1.30$1.52$1.11$0.25$(0.37$)1.74$2.41$2.08$2.43$
Unlevered FCF Per Share, Diluted1.36$0.87$0.30$(2.39$)2.57$0.24$(1.25$)(5.44$)1.27$0.71$(1.53$)(3.99$)0.66$0.88$(0.27$)(1.52$)0.78$1.64$(1.63$)(3.16$)(0.08$)1.02$1.35$0.54$(0.13$)1.09$(0.40$)0.04$1.35$0.59$(1.63$)1.12$0.88$1.78$1.62$0.02$1.63$1.11$(0.28$)1.29$1.51$1.11$0.25$(0.37$)1.73$2.40$2.07$2.42$
Average Shares, Basic22,585,37320,681,20320,670,23920,617,94920,152,21318,425,64317,152,66115,783,91515,788,87015,001,90812,886,10012,844,45812,802,99212,797,72712,778,35512,741,39412,722,79612,704,16512,702,36612,076,50911,052,00011,043,24611,041,23511,000,20410,970,00010,970,00010,970,00010,920,00010,882,00010,881,00010,881,00010,861,00010,838,00010,838,00010,838,00010,823,00010,799,00010,799,00010,799,00010,778,00010,750,00010,750,00010,750,00010,739,0005,356,0005,356,0005,356,0005,347,000
Average Shares, Diluted22,726,64820,756,50820,731,39720,740,31920,279,99218,479,12317,202,11515,939,95015,845,43215,050,06212,916,99812,926,42412,863,13512,834,08412,811,07812,803,27912,882,66612,774,63612,702,36612,171,82811,141,00011,100,35611,041,23511,100,50611,071,00011,060,00011,073,00010,974,00010,991,00010,935,00010,919,00010,897,00010,903,00010,857,00010,862,00010,849,00010,853,00010,826,00010,826,00010,806,00010,814,00010,792,00010,782,00010,760,0005,380,0005,372,0005,368,0005,364,000
EBIT32,491,000$10,087,000$22,513,000$24,504,000$20,439,000$20,072,000$2,602,000$15,640,000$(12,534,000$)25,264,000$20,637,000$16,778,000$15,941,000$15,109,000$10,536,000$11,914,000$(13,486,000$)13,892,000$(12,714,000$)9,603,000$11,914,000$14,185,000$(21,910,000$)9,734,000$14,813,000$17,215,000$16,416,000$11,813,000$13,085,000$15,697,000$13,855,000$11,593,000$12,887,000$12,237,000$15,005,000$14,196,000$13,286,000$13,623,000$11,879,000$12,741,000$15,116,000$13,243,000$11,496,000$10,684,000$7,262,000$6,678,000$10,199,000$10,852,000$
EBITDA42,685,000$20,277,000$32,148,000$34,409,000$28,790,000$27,615,000$9,525,000$21,585,000$(6,579,000$)30,714,000$26,401,000$23,025,000$21,895,000$21,327,000$16,629,000$18,251,000$(7,893,000$)20,621,000$(6,391,000$)15,547,000$17,836,000$19,995,000$(15,982,000$)16,209,000$21,118,000$24,200,000$22,623,000$19,243,000$19,325,000$21,958,000$20,094,000$18,077,000$19,185,000$18,617,000$21,498,000$20,907,000$19,817,000$20,203,000$18,573,000$18,982,000$21,442,000$19,680,000$18,173,000$16,785,000$11,758,000$11,398,000$14,958,000$15,647,000$