VSEC: financial statements from SEC — TradeAlmanac

VSEC

VSE Corporation: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	31 Dec 2025	31 Dec 2024
Revenue	1.11B	786M
Selling, general and administrative	13M	14M
Operating income	90M	59M
Pre-tax income	69M	24M
Income tax	16M	4M
Net income	12M	15M
Earnings per share	0.55	0.86
Earnings per share, diluted	0.55	0.85
Weighted average shares	21M	18M
Weighted average shares, diluted	21M	18M

Balance sheet

Metric	31 Mar 2026	31 Dec 2025	30 Sept 2025	30 Jun 2025	31 Mar 2025	31 Dec 2024	30 Sept 2024	30 Jun 2024
Cash and equivalents	1.24B	69M	9M	17M	6M	30M	8M	19M
Receivables	217M	191M	176M

Cash flow

Metric	31 Dec 2025	31 Dec 2024
Operating cash flow	27M	−31M
Depreciation and amortisation	40M	29M
Share-based compensation	13M	8M
Capital expenditure	21M	21M
Investing cash flow	−276M	−264M
Dividends paid	8M

Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator