VSE CORP

Listed Company

VSECCIK 0000102752NasdaqLarge AcceleratedServices-Engineering ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.11B

Net Income

$11.70M

Total Assets

$2.03B

Equity

$1.44B

Shares Out

28.06M

Op. Cash Flow

$26.99M

VSEC$199.59+50.93% · past yearDBEQ Basic

Daily closing prices

Business

VSE Corporation is a provider of aftermarket parts distribution and maintenance, repair and overhaul (MRO) services for air transportation assets in commercial and government markets. The company supplies aircraft components and engine accessories through global distribution centers and delivers MRO services from strategically positioned repair facilities to commercial airlines, regional carriers, air cargo operators, MRO integrators, aviation manufacturers, and corporate and private aircraft owners. The company operates as a single reportable segment, Aviation, following the divestiture of its Federal and Defense and Fleet segments.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,112	786	544	669	481
Selling, general and administrative expenses	13	14	7	4	3
Earn-out receivable fair value adjustments	29	0	0	—	—
Lease abandonment and termination costs	0	12	0	0	—
Amortization of intangible assets	26	18	12	16	16
Total costs and operating expenses	1,023	728	494	616	484
Operating income	90	59	50	54	−3
Interest expense, net	21	35	31	—	—
Income from continuing operations before income taxes	69	24	19	36	−15
Provision for income taxes	16	4	4	9	−4
Net income from continuing operations	53	19	15	27	−11
(Loss) income from discontinued operations, net of tax	−42	−4	25	1	19
Net income	12	15	39	28	8
Continuing operations (usd per share)	2.53	1.09	1.03	2.09	−0.88
Discontinued operations (usd per share)	−1.98	−0.23	1.74	0.11	1.51
Basic earnings (loss) per share (usd per share)	0.55	0.86	2.77	2.2	0.63
Continuing operations (usd per share)	2.52	1.08	1.03	2.08	−0.87
Discontinued operations (usd per share)	−1.97	−0.23	1.73	0.11	1.5
Diluted earnings (loss) per share (usd per share)	0.55	0.85	2.76	2.19	0.63
Basic (in shares)	21	18	14	13	13
Diluted (in shares)	21	18	14	13	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	69	30	8	305,000	518,000
Receivables, net	191	158	128	91	77
Contract assets	41	30	8	7	—
Inventories	554	434	501	380	323
Prepaid expenses and other current assets	38	31	36	—	—
Current assets held-for-sale	0	283	93	55	—
Total current assets	893	965	774	549	464
Property and equipment, net	91	71	58	41	42
Intangible assets, net	296	197	114	87	108
Goodwill	641	428	289	217	217
Operating lease right-of-use assets	50	43	29	22	27
Note receivable	27	0	—	—	—
Other assets	30	38	24	29	28
Total assets	2,029	1,743	1,350	1,000	919
Current portion of long-term debt	8	30	23	10	14
Accounts payable	155	145	173	129	115
Accrued expenses and other current liabilities	73	53	36	32	49
Dividends payable	2	2	2	1	1
Current liabilities held-for-sale	0	68	53	53	—
Total current liabilities	238	299	287	225	180
Long-term debt, less current portion	285	400	407	276	270
Deferred compensation	6	7	8	7	14
Long-term operating lease obligations	44	39	25	19	27
Deferred tax liabilities	12	0	7	5	9
Other long-term liabilities	5	9	0	0	250,000
Total liabilities	590	754	734	550	501
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, par value $0.05 per share, authorized 44,000,000 shares; issued and outstanding 23,398,046 and 20,590,496 respectively	1	1	788,000	641,000	636,000
Additional paid-in capital	1,041	592	229	93	89
Retained earnings	396	392	385	351	328
Accumulated other comprehensive income	512,000	3	2	5	−176,000
Total stockholders' equity	1,439	988	617	450	417
Total liabilities and stockholders' equity	2,029	1,743	1,350	1,000	919

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	40	29	23	25	25
Amortization of debt issuance costs	1	1	2	968,000	1
Deferred taxes	−58,000	−10	−2	−1	−4
Stock-based compensation	13	8	8	4	4
Specific provision for inventory	0	0	742,000	1	24
Impairment and loss on sale of business segments	47	19	0	0	—
Loss on sale of property and equipment	45,000	479,000	0	122,000	−64,000
Earn-out receivable adjustments	29	0	0	—	—
Interest income on note receivable	−2	0	0	—	—
Receivables	−27	−40	−26	−27	−9
Contract assets	−9	8	5	−6	−6
Inventories	−57	−32	−88	−59	−80
Prepaid expenses and other current assets and other assets	−5	−7	−3	3	—
Operating lease assets and liabilities, net	2	−10	−390,000	−486,000	−651,000
Accounts payable and deferred compensation	−11	−32	24	36	33
Accrued expenses and other current and noncurrent liabilities	−8	6	−4	4	−5
Net cash provided by (used in) operating activities	27	−31	−22	8	−18
Purchases of property and equipment	−21	−21	−19	−11	−11
Proceeds from the sale of business segments, net of cash divested	139	40	0	0	—
Proceeds from payments on notes receivable	0	0	2	9	—
Cash paid for acquisitions, net of cash acquired	−394	−283	−219	0	−53
Net cash used in investing activities	−276	−264	−236	−2	−62
Borrowings on bank credit facilities	667	739	844	520	492
Repayments on bank credit facilities	−804	−740	−700	−518	−458
Proceeds from issuance of common stock	442	326	130	899,000	52
Payment of debt financing costs	−3	0	−3	−1	−808,000
Payment of taxes for equity transactions	−5	−3	−1	−1	−681,000
Dividends paid	−8	−7	−5	−5	−4
Other	−142,000	0	0	—	—
Net cash provided by financing activities	290	316	265	−6	79
Net increase in cash and cash equivalents	40	21	7	−40,000	140,000
Note receivable from the sale of business segment	25	0	0	—	—
Cash paid for interest	27	37	35	16	12
Federal	12	8	10	—	—
State	3	2	2	—	—
Total cash paid for income taxes	16	12	14	—	—

Filings

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Frequently asked questions

What is VSE CORP's CIK number?

VSE CORP's SEC CIK number is 0000102752 (102752). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find VSE CORP's SEC filings?

All of VSE CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did VSE CORP last report earnings?

VSE CORP (VSEC) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000102752-26-000040). This is VSE CORP's most recent earnings filing of record — not a forecast of its next earnings date.

What is VSE CORP's most recent earnings 8-K?

VSE CORP's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0000102752-26-000040. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View VSE CORP's latest earnings 8-K →
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