VSE CORP (VSEC) Fundamental Analysis & Valuation

NASDAQ:VSEC • US9182841000

209.39 USD
-4.65 (-2.17%)
At close: Mar 6, 2026
211 USD
+1.61 (+0.77%)
After Hours: 3/6/2026, 8:00:02 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This VSEC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to VSEC. VSEC was compared to 78 industry peers in the Aerospace & Defense industry. While VSEC seems to be doing ok healthwise, there are quite some concerns on its profitability. VSEC is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

3

1. VSEC Profitability Analysis

1.1 Basic Checks

  • In the past year VSEC was profitable.
  • In the past year VSEC had a positive cash flow from operations.
  • VSEC had positive earnings in 4 of the past 5 years.
  • VSEC had negative operating cash flow in 4 of the past 5 years.
VSEC Yearly Net Income VS EBIT VS OCF VS FCFVSEC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

  • VSEC has a Return On Assets (0.72%) which is comparable to the rest of the industry.
  • VSEC has a Return On Equity (1.14%) which is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 4.81%, VSEC is in line with its industry, outperforming 46.15% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for VSEC is below the industry average of 9.14%.
Industry RankSector Rank
ROA 0.72%
ROE 1.14%
ROIC 4.81%
ROA(3y)2.2%
ROA(5y)1.36%
ROE(3y)4.72%
ROE(5y)2.92%
ROIC(3y)5.73%
ROIC(5y)5.23%
VSEC Yearly ROA, ROE, ROICVSEC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 1.01%, VSEC is in line with its industry, outperforming 43.59% of the companies in the same industry.
  • VSEC's Profit Margin has declined in the last couple of years.
  • VSEC has a Operating Margin (7.73%) which is in line with its industry peers.
  • In the last couple of years the Operating Margin of VSEC has grown nicely.
  • The Gross Margin of VSEC (13.39%) is worse than 74.36% of its industry peers.
  • In the last couple of years the Gross Margin of VSEC has remained more or less at the same level.
Industry RankSector Rank
OM 7.73%
PM (TTM) 1.01%
GM 13.39%
OM growth 3Y45.15%
OM growth 5Y2.81%
PM growth 3Y10.02%
PM growth 5Y-22.01%
GM growth 3Y26.16%
GM growth 5Y0.93%
VSEC Yearly Profit, Operating, Gross MarginsVSEC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. VSEC Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VSEC is destroying value.
  • There is no outstanding debt for VSEC. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
VSEC Yearly Shares OutstandingVSEC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
VSEC Yearly Total Debt VS Total AssetsVSEC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

  • VSEC has an Altman-Z score of 7.88. This indicates that VSEC is financially healthy and has little risk of bankruptcy at the moment.
  • VSEC has a Altman-Z score of 7.88. This is in the better half of the industry: VSEC outperforms 75.64% of its industry peers.
  • VSEC has a debt to FCF ratio of 13.22. This is a negative value and a sign of low solvency as VSEC would need 13.22 years to pay back of all of its debts.
  • VSEC has a Debt to FCF ratio of 13.22. This is comparable to the rest of the industry: VSEC outperforms 55.13% of its industry peers.
  • A Debt/Equity ratio of 0.35 indicates that VSEC is not too dependend on debt financing.
  • VSEC has a Debt to Equity ratio (0.35) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 13.22
Altman-Z 7.88
ROIC/WACC0.5
WACC9.66%
VSEC Yearly LT Debt VS Equity VS FCFVSEC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

  • VSEC has a Current Ratio of 3.94. This indicates that VSEC is financially healthy and has no problem in meeting its short term obligations.
  • VSEC's Current ratio of 3.94 is fine compared to the rest of the industry. VSEC outperforms 69.23% of its industry peers.
  • VSEC has a Quick Ratio of 1.41. This is a normal value and indicates that VSEC is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Quick ratio value of 1.41, VSEC perfoms like the industry average, outperforming 43.59% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.94
Quick Ratio 1.41
VSEC Yearly Current Assets VS Current LiabilitesVSEC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. VSEC Growth Analysis

3.1 Past

  • VSEC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 25.00%, which is quite impressive.
  • VSEC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.25% yearly.
EPS 1Y (TTM)25%
EPS 3Y10.25%
EPS 5YN/A
EPS Q2Q%28.89%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%0.72%

3.2 Future

  • VSEC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.94% yearly.
  • The Revenue is expected to grow by 20.89% on average over the next years. This is a very strong growth
EPS Next Y7.56%
EPS Next 2Y12.76%
EPS Next 3Y16.69%
EPS Next 5Y7.94%
Revenue Next Year25.04%
Revenue Next 2Y25.17%
Revenue Next 3Y19.78%
Revenue Next 5Y20.89%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
VSEC Yearly Revenue VS EstimatesVSEC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B 2.5B
VSEC Yearly EPS VS EstimatesVSEC Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6

More info and screens

Find the best growth stocksShow best growing peers

2

4. VSEC Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 53.69, the valuation of VSEC can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as VSEC.
  • When comparing the Price/Earnings ratio of VSEC to the average of the S&P500 Index (26.29), we can say VSEC is valued expensively.
  • VSEC is valuated quite expensively with a Price/Forward Earnings ratio of 49.92.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of VSEC is on the same level as its industry peers.
  • VSEC's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 24.57.
Industry RankSector Rank
PE 53.69
Fwd PE 49.92
VSEC Price Earnings VS Forward Price EarningsVSEC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • VSEC's Enterprise Value to EBITDA is on the same level as the industry average.
  • VSEC's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 217.51
EV/EBITDA 51.16
VSEC Per share dataVSEC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VSEC does not grow enough to justify the current Price/Earnings ratio.
  • VSEC's earnings are expected to grow with 16.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)7.1
PEG (5Y)N/A
EPS Next 2Y12.76%
EPS Next 3Y16.69%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. VSEC Dividend Analysis

5.1 Amount

  • VSEC has a yearly dividend return of 0.18%, which is pretty low.
  • VSEC's Dividend Yield is a higher than the industry average which is at 0.34.
  • Compared to an average S&P500 Dividend Yield of 1.82, VSEC's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.18%

5.2 History

  • The dividend of VSEC has a limited annual growth rate of 2.67%.
  • VSEC has paid a dividend for at least 10 years, which is a reliable track record.
  • VSEC has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)2.67%
Div Incr Years0
Div Non Decr Years34
VSEC Yearly Dividends per shareVSEC Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0 0 0 0

5.3 Sustainability

  • VSEC pays out 73.55% of its income as dividend. This is not a sustainable payout ratio.
  • VSEC's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP73.55%
EPS Next 2Y12.76%
EPS Next 3Y16.69%
VSEC Yearly Income VS Free CF VS DividendVSEC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M
VSEC Dividend Payout.VSEC Dividend Payout, showing the Payout Ratio.VSEC Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

VSEC Fundamentals: All Metrics, Ratios and Statistics

VSE CORP

NASDAQ:VSEC (3/6/2026, 8:00:02 PM)

After market: 211 +1.61 (+0.77%)

209.39

-4.65 (-2.17%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-25
Earnings (Next)05-04
Inst Owners96.07%
Inst Owner Change3.47%
Ins Owners1.6%
Ins Owner Change0.36%
Market Cap5.86B
Revenue(TTM)N/A
Net Income(TTM)11.20M
Analysts86.67
Price Target234.29 (11.89%)
Short Float %6.27%
Short Ratio3.62
Dividend
Industry RankSector Rank
Dividend Yield 0.18%
Yearly Dividend0.39
Dividend Growth(5Y)2.67%
DP73.55%
Div Incr Years0
Div Non Decr Years34
Ex-Date04-15
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)24.74%
Min EPS beat(2)15.55%
Max EPS beat(2)33.94%
EPS beat(4)4
Avg EPS beat(4)26.25%
Min EPS beat(4)15.55%
Max EPS beat(4)33.94%
EPS beat(8)7
Avg EPS beat(8)18.32%
EPS beat(12)10
Avg EPS beat(12)17.22%
EPS beat(16)13
Avg EPS beat(16)14.54%
Revenue beat(2)2
Avg Revenue beat(2)0.79%
Min Revenue beat(2)0.3%
Max Revenue beat(2)1.28%
Revenue beat(4)4
Avg Revenue beat(4)1.3%
Min Revenue beat(4)0.3%
Max Revenue beat(4)1.93%
Revenue beat(8)5
Avg Revenue beat(8)0.61%
Revenue beat(12)6
Avg Revenue beat(12)-1.77%
Revenue beat(16)9
Avg Revenue beat(16)-1.95%
PT rev (1m)9.17%
PT rev (3m)10.93%
EPS NQ rev (1m)7.41%
EPS NQ rev (3m)9.51%
EPS NY rev (1m)0.91%
EPS NY rev (3m)3.08%
Revenue NQ rev (1m)2.19%
Revenue NQ rev (3m)2.5%
Revenue NY rev (1m)0.45%
Revenue NY rev (3m)0.63%
Valuation
Industry RankSector Rank
PE 53.69
Fwd PE 49.92
P/S 5.28
P/FCF 217.51
P/OCF 131.05
P/B 5.96
P/tB 16.61
EV/EBITDA 51.16
EPS(TTM)3.9
EY1.86%
EPS(NY)4.19
Fwd EY2%
FCF(TTM)0.96
FCFY0.46%
OCF(TTM)1.6
OCFY0.76%
SpS39.66
BVpS35.13
TBVpS12.6
PEG (NY)7.1
PEG (5Y)N/A
Graham Number55.52
Profitability
Industry RankSector Rank
ROA 0.72%
ROE 1.14%
ROCE 6.23%
ROIC 4.81%
ROICexc 4.84%
ROICexgc 8.98%
OM 7.73%
PM (TTM) 1.01%
GM 13.39%
FCFM 2.43%
ROA(3y)2.2%
ROA(5y)1.36%
ROE(3y)4.72%
ROE(5y)2.92%
ROIC(3y)5.73%
ROIC(5y)5.23%
ROICexc(3y)5.78%
ROICexc(5y)5.26%
ROICexgc(3y)10.59%
ROICexgc(5y)10.1%
ROCE(3y)7.42%
ROCE(5y)6.77%
ROICexgc growth 3Y31.62%
ROICexgc growth 5Y-9.39%
ROICexc growth 3Y31.63%
ROICexc growth 5Y-4.64%
OM growth 3Y45.15%
OM growth 5Y2.81%
PM growth 3Y10.02%
PM growth 5Y-22.01%
GM growth 3Y26.16%
GM growth 5Y0.93%
F-Score7
Asset Turnover0.71
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 13.22
Debt/EBITDA 2.81
Cap/Depr 46.68%
Cap/Sales 1.6%
Interest Coverage 250
Cash Conversion 36.1%
Profit Quality 240.62%
Current Ratio 3.94
Quick Ratio 1.41
Altman-Z 7.88
F-Score7
WACC9.66%
ROIC/WACC0.5
Cap/Depr(3y)65.18%
Cap/Depr(5y)51%
Cap/Sales(3y)1.76%
Cap/Sales(5y)1.47%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25%
EPS 3Y10.25%
EPS 5YN/A
EPS Q2Q%28.89%
EPS Next Y7.56%
EPS Next 2Y12.76%
EPS Next 3Y16.69%
EPS Next 5Y7.94%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%0.72%
Revenue Next Year25.04%
Revenue Next 2Y25.17%
Revenue Next 3Y19.78%
Revenue Next 5Y20.89%
EBIT growth 1Y-10.63%
EBIT growth 3Y63.86%
EBIT growth 5Y10.52%
EBIT Next Year121.5%
EBIT Next 3Y61.84%
EBIT Next 5Y31.06%
FCF growth 1Y151.72%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y219.23%
OCF growth 3YN/A
OCF growth 5YN/A

VSE CORP / VSEC FAQ

Can you provide the ChartMill fundamental rating for VSE CORP?

ChartMill assigns a fundamental rating of 4 / 10 to VSEC.


What is the valuation status for VSEC stock?

ChartMill assigns a valuation rating of 2 / 10 to VSE CORP (VSEC). This can be considered as Overvalued.


How profitable is VSE CORP (VSEC) stock?

VSE CORP (VSEC) has a profitability rating of 3 / 10.


What are the PE and PB ratios of VSE CORP (VSEC) stock?

The Price/Earnings (PE) ratio for VSE CORP (VSEC) is 53.69 and the Price/Book (PB) ratio is 5.96.


How sustainable is the dividend of VSE CORP (VSEC) stock?

The dividend rating of VSE CORP (VSEC) is 5 / 10 and the dividend payout ratio is 73.55%.