VSEC
Vse Corp
$203.95
-4.65 (-2.23%)
At close · Jul 15
Market Cap
$5.75B
Shares
28,057,152
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$1.11B
+41.5%
FY2025
Net Income
$11.7M
-23.6%
FY2025
Gross Margin
61.62%
+2pp
FY2017
Operating Margin
8.06%
+0.6pp
FY2025
Diluted EPS
$0.55
-35.3%
FY2025
Operating Cash Flow
$26.99M
+187%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1.18B | $1.11B | $786.26M | $544.02M | $669.45M | $481.38M | $661.66M | $752.63M | $697.22M | $760.11M | $691.79M | $533.98M | $424.07M | $471.64M | $546.76M | $580.76M | $810.96M | $1.01B | |
| -$36.75M | — | — | -$31.08M | -$17.89M | -$12.06M | -$13.5M | -$13.83M | -$8.98M | -$9.24M | -$9.86M | -$9.54M | -$3.98M | -$5.79M | -$7.22M | -$3.69M | -$199K | $120K | |
| $291.79M | — | — | — | — | — | — | — | — | $291.77M | $279.63M | $258.01M | $135.24M | $129.03M | $122.15M | $72.99M | $8.74M | -$3.03M | |
| $447.93M | — | — | — | — | — | — | — | — | $468.34M | $412.16M | $275.97M | $288.83M | $342.61M | $424.61M | $507.77M | $802.22M | $1.02B | |
| — | — | — | — | — | — | — | — | — | 61.62% | 59.58% | 51.68% | 68.11% | 72.64% | 77.66% | 87.43% | 98.92% | 100.3% | |
| $17.23M | $13.34M | $13.63M | $7.12M | $3.64M | $3.45M | $3.12M | $4.19M | $3.71M | $2.43M | $6.61M | $3.29M | $4.14M | $3.29M | $3.97M | $5.21M | $1.99M | $1.26M | |
| $28.91M | $26M | $17.63M | $11.74M | $15.74M | $15.76M | $17.5M | $19.32M | $16.02M | $16.02M | $16.07M | $15.58M | $10.05M | $10.2M | $11.2M | — | — | — | |
| — | $39.92M | $28.76M | $23.42M | $24.6M | $24.59M | $24.14M | $26.93M | $25.22M | $25.88M | $26.05M | $25.54M | $18.77M | $20.02M | $21.16M | $15.1M | $8.94M | $7.62M | |
| $97.84M | $89.6M | $58.76M | $50.15M | $53.6M | -$2.71M | $13.92M | $60.26M | $54.23M | $54.33M | $51.53M | $50.54M | $36.93M | $44.1M | $51.08M | $36.08M | $37.94M | $38.48M | |
| — | 8.06% | 7.47% | 9.22% | 8.01% | -0.56% | 2.1% | 8.01% | 7.78% | 7.15% | 7.45% | 9.46% | 8.71% | 9.35% | 9.34% | 6.21% | 4.68% | 3.79% | |
| — | $129.52M | $87.52M | $73.56M | $78.21M | $21.88M | $38.06M | $87.18M | $79.45M | $80.21M | $77.58M | $76.08M | $55.7M | $64.12M | $72.24M | $51.18M | $46.88M | $46.1M | |
| — | $20.56M | $34.95M | $31.09M | — | — | — | — | — | — | — | — | $2M | $3.7M | $5.2M | $3.1M | — | — | |
| — | — | — | — | $0 | $0 | $1.11M | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| $86.62M | $69.04M | $23.81M | $19.06M | $35.71M | -$14.77M | $427K | $46.43M | $45.25M | $45.09M | $41.67M | $41M | $32.95M | $38.31M | $43.85M | $32.39M | $37.74M | $38.6M | |
| $18.04M | $15.55M | $4.41M | $4.5M | $9.05M | -$3.77M | $5.6M | $9.4M | $10.17M | $5.99M | $14.88M | $16.08M | $12.46M | $14.32M | $16.49M | $12.2M | $14.24M | $14.58M | |
| $49.73M | $11.7M | $15.32M | $39.13M | $28.06M | $7.97M | -$5.17M | $37.02M | $35.08M | $39.1M | $26.79M | $24.92M | $19.37M | $22.85M | $21.29M | $20.55M | $23.69M | $24.02M | |
| — | 1.05% | 1.95% | 7.19% | 4.19% | 1.65% | -0.78% | 4.92% | 5.03% | 5.14% | 3.87% | 4.67% | 4.57% | 4.85% | 3.89% | 3.54% | 2.92% | 2.37% | |
| $49.28M | $9.14M | $16.26M | $36.3M | $33.2M | $8.99M | -$5.27M | $35.77M | $35.05M | $39.23M | $26.91M | $24.84M | $19.57M | $23.39M | $21.25M | $19.86M | $23.69M | $24.02M | |
| USD/shares | — | $0.55 | $0.86 | $2.77 | $2.20 | $0.63 | -$0.47 | $3.38 | $3.23 | $3.61 | $2.48 | $2.32 | $1.81 | $4.29 | $4.03 | $3.93 | $4.56 | $4.68 |
| USD/shares | — | $0.55 | $0.85 | $2.76 | $2.19 | $0.63 | -$0.47 | $3.35 | $3.21 | $3.60 | $2.47 | $2.31 | $1.81 | $4.28 | $4.01 | $3.90 | $4.53 | $4.67 |
| shares | — | 21.14M | 17.88M | 14.13M | 12.78M | 12.55M | 11.03M | 10.96M | 10.88M | 10.83M | 10.79M | 10.75M | 10.71M | 5.33M | 5.28M | 5.23M | 5.19M | 5.13M |
| shares | — | 21.24M | 17.98M | 14.18M | 12.83M | 12.63M | 11.03M | 11.04M | 10.94M | 10.87M | 10.83M | 10.79M | 10.74M | 5.34M | 5.31M | 5.27M | 5.22M | 5.15M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2025: $57.72M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
4.13×
Aerospace & Defense median 4.14×
EV/EBIT
49.82×
Aerospace & Defense median 31.44×
P/E (TTM)
101.00×
Aerospace & Defense median 40.93×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Aviation Segment | $1,112,275,000 | $786,256,000 | $544,020,000 | $408,112,000 | $247,852,000 | — | — | — |
| Aviation Acquisitions | — | — | — | — | — | $165,070,000 | $224,546,000 | $145,423,000 |
| Aviation Segments | — | — | — | $408,112,000 | — | — | — | — |
| Federal and Defense Segments | — | — | — | $280,314,000 | — | $254,419,000 | $313,561,000 | — |
| Federal Group | — | — | — | — | — | — | — | $336,986,000 |
| Fleet Segment | — | — | — | $261,336,000 | $233,532,000 | — | — | — |
| Fleet Segments | — | — | — | $261,336,000 | — | $242,170,000 | $214,520,000 | — |
| Supply Chain Management Group | — | — | — | — | — | — | — | $214,809,000 |
| Wheeler Fleet Segment | — | — | — | $261,336,000 | — | — | — | — |
By Geography (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| United States | $629,665,000 | $492,297,000 | $340,915,000 | $557,615,000 | $399,423,000 | $598,142,000 | $659,451,000 | $647,168,000 |
| Non-U.S. and Non-Canada | $333,576,000 | $186,654,000 | $130,657,000 | — | — | — | — | — |
| Canada | $149,034,000 | $107,305,000 | $72,448,000 | — | — | — | — | — |
| Non Us | — | — | — | $111,833,000 | $81,961,000 | $63,517,000 | $93,176,000 | $50,050,000 |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Product | $703,925,000 | $482,800,000 | $376,567,000 | $554,010,000 | $397,343,000 | $318,324,000 | $311,617,000 | $293,950,000 |
| Service | $408,350,000 | $303,456,000 | $167,453,000 | $115,438,000 | $84,041,000 | $343,335,000 | $441,010,000 | $403,268,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|
| Aviation Segment | $101,387,000 | $71,168,000 | $36,416,000 | -$14,373,000 | — | — | — |
| Fleet Segment | $17,018,000 | $31,257,000 | $23,911,000 | $20,426,000 | — | — | — |
| Aviation Acquisitions | — | — | — | — | -$35,513,000 | $17,901,000 | $11,076,000 |
| Aviation Segments | — | — | $36,416,000 | -$14,373,000 | -$35,513,000 | $17,901,000 | — |
| Federal and Defense Segments | — | — | -$805,000 | $19,897,000 | $26,309,000 | $18,144,000 | — |
| Federal Group | — | — | — | — | $26,309,000 | $18,144,000 | $15,797,000 |
| Fleet Segments | — | — | $23,911,000 | $20,426,000 | $26,659,000 | $29,819,000 | — |
| Supply Chain Management Group | — | — | — | — | $26,659,000 | $29,819,000 | $30,626,000 |
Operating Margin by Segment (%)
| Component | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|
| Aviation Segment | 12.9% | 13.1% | 8.9% | -5.8% | — | — | — |
| Aviation Acquisitions | — | — | — | — | -21.5% | 8% | 7.6% |
| Aviation Segments | — | — | 8.9% | — | — | — | — |
| Federal and Defense Segments | — | — | -0.3% | — | 10.3% | 5.8% | — |
| Federal Group | — | — | — | — | — | — | 4.7% |
| Fleet Segment | — | — | 9.1% | 8.7% | — | — | — |
| Fleet Segments | — | — | 9.1% | — | 11% | 13.9% | — |
| Supply Chain Management Group | — | — | — | — | — | — | 14.3% |
Key facts
CIK
102752
CUSIP
918284100
13F (30d)
30 filings
29 filers
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