VSE CORP (VSEC) Fundamental Analysis & Valuation

NASDAQ:VSEC • US9182841000

198.26 USD
-1.62 (-0.81%)
Last: Mar 13, 2026, 10:18 AM
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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 quite expensive at the moment. 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.
  • Of the past 5 years VSEC 4 years were profitable.
  • 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

  • The Return On Assets of VSEC (0.72%) is comparable to the rest of the industry.
  • VSEC's Return On Equity of 1.14% is in line compared to the rest of the industry. VSEC outperforms 44.87% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 4.81%, VSEC is in line with its industry, outperforming 44.87% 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 9.32%.
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

  • The Profit Margin of VSEC (1.01%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of VSEC has declined.
  • VSEC has a Operating Margin (7.73%) which is comparable to the rest of the industry.
  • VSEC's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 13.39%, VSEC is doing worse than 75.64% of the companies in the same industry.
  • 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

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. VSEC Health Analysis

2.1 Basic Checks

  • VSEC has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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

  • An Altman-Z score of 7.47 indicates that VSEC is not in any danger for bankruptcy at the moment.
  • With a decent Altman-Z score value of 7.47, VSEC is doing good in the industry, outperforming 75.64% of the companies in the same industry.
  • 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's Debt to FCF ratio of 13.22 is in line compared to the rest of the industry. VSEC outperforms 53.85% of its industry peers.
  • VSEC has a Debt/Equity ratio of 0.35. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.35, VSEC is in line with its industry, outperforming 58.97% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 13.22
Altman-Z 7.47
ROIC/WACC0.48
WACC10%
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 has a Current ratio of 3.94. This is in the better half of the industry: VSEC outperforms 67.95% 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.
  • The Quick ratio of VSEC (1.41) is comparable to the rest of the 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

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

4

3. VSEC Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 25.00% over the past year.
  • The Earnings Per Share has been growing by 10.25% on average over the past years. This is quite good.
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

  • The Earnings Per Share is expected to grow by 7.94% on average over the next years.
  • VSEC is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 20.89% yearly.
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

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2

4. VSEC Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 50.84, which means the current valuation is very expensive for VSEC.
  • Compared to the rest of the industry, the Price/Earnings ratio of VSEC is on the same level as its industry peers.
  • VSEC is valuated expensively when we compare the Price/Earnings ratio to 25.71, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 47.26, VSEC can be considered very expensive at the moment.
  • VSEC's Price/Forward Earnings ratio is in line with the industry average.
  • VSEC's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.82.
Industry RankSector Rank
PE 50.84
Fwd PE 47.26
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VSEC is on the same level as its industry peers.
  • VSEC's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 205.95
EV/EBITDA 47.96
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 an expensive valuation of the company.
  • A more expensive valuation may be justified as VSEC's earnings are expected to grow with 16.69% in the coming years.
PEG (NY)6.73
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

  • With a yearly dividend of 0.18%, VSEC is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.34, VSEC pays a bit more dividend than its industry peers.
  • 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

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VSEC Fundamentals: All Metrics, Ratios and Statistics

VSE CORP

NASDAQ:VSEC (3/13/2026, 10:18:41 AM)

198.26

-1.62 (-0.81%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-25
Earnings (Next)05-04
Inst Owners96.07%
Inst Owner Change3.49%
Ins Owners1.6%
Ins Owner Change1.86%
Market Cap5.55B
Revenue(TTM)N/A
Net Income(TTM)11.20M
Analysts86.67
Price Target234.29 (18.17%)
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)1.38%
PT rev (3m)10.93%
EPS NQ rev (1m)4.39%
EPS NQ rev (3m)4.39%
EPS NY rev (1m)0.69%
EPS NY rev (3m)0.73%
Revenue NQ rev (1m)1.27%
Revenue NQ rev (3m)2.5%
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)0.63%
Valuation
Industry RankSector Rank
PE 50.84
Fwd PE 47.26
P/S 5
P/FCF 205.95
P/OCF 124.08
P/B 5.64
P/tB 15.73
EV/EBITDA 47.96
EPS(TTM)3.9
EY1.97%
EPS(NY)4.19
Fwd EY2.12%
FCF(TTM)0.96
FCFY0.49%
OCF(TTM)1.6
OCFY0.81%
SpS39.66
BVpS35.13
TBVpS12.6
PEG (NY)6.73
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 7.47
F-Score7
WACC10%
ROIC/WACC0.48
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 50.84 and the Price/Book (PB) ratio is 5.64.


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%.