VSE CORP (VSEC) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:VSEC • US9182841000

195.05 USD
+4.12 (+2.16%)
At close: Feb 3, 2026
194 USD
-1.05 (-0.54%)
After Hours: 2/3/2026, 8:00:02 PM
Fundamental Rating

4

Overall VSEC gets a fundamental rating of 4 out of 10. We evaluated VSEC against 72 industry peers in the Aerospace & Defense industry. While VSEC seems to be doing ok healthwise, there are quite some concerns on its profitability. While showing a medium growth rate, VSEC is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • VSEC had positive earnings in the past year.
  • VSEC had a positive operating cash flow in the past year.
  • VSEC had positive earnings in 4 of the past 5 years.
  • The reported operating cash flow has been mixed in the past 5 years: VSEC reported negative operating cash flow in multiple 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

  • Looking at the Return On Assets, with a value of 0.72%, VSEC is in line with its industry, outperforming 45.83% of the companies in the same industry.
  • VSEC has a Return On Equity of 1.14%. This is comparable to the rest of the industry: VSEC outperforms 48.61% of its industry peers.
  • VSEC has a Return On Invested Capital (4.81%) which is comparable to the rest of the industry.
  • The Average Return On Invested Capital over the past 3 years for VSEC is below the industry average of 8.66%.
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

  • VSEC has a Profit Margin (1.01%) which is in line with its industry peers.
  • VSEC's Profit Margin has declined in the last couple of years.
  • VSEC has a Operating Margin of 7.73%. This is comparable to the rest of the industry: VSEC outperforms 52.78% of its industry peers.
  • In the last couple of years the Operating Margin of VSEC has grown nicely.
  • VSEC has a Gross Margin of 13.39%. This is in the lower half of the industry: VSEC underperforms 72.22% of its industry peers.
  • VSEC's Gross Margin has been stable in the last couple of years.
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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5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VSEC is destroying value.
  • Compared to 1 year ago, VSEC has more shares outstanding
  • The number of shares outstanding for VSEC has been increased compared to 5 years ago.
  • The debt/assets ratio for VSEC has been reduced compared to a year ago.
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 6.40 indicates that VSEC is not in any danger for bankruptcy at the moment.
  • VSEC has a better Altman-Z score (6.40) than 62.50% of its industry peers.
  • The Debt to FCF ratio of VSEC is 13.22, which is on the high side as it means it would take VSEC, 13.22 years of fcf income to pay off all of its debts.
  • VSEC has a Debt to FCF ratio (13.22) which is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.35 indicates that VSEC is not too dependend on debt financing.
  • The Debt to Equity ratio of VSEC (0.35) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 13.22
Altman-Z 6.4
ROIC/WACC0.46
WACC10.5%
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

  • A Current Ratio of 3.94 indicates that VSEC has no problem at all paying its short term obligations.
  • With a decent Current ratio value of 3.94, VSEC is doing good in the industry, outperforming 72.22% of the companies in the same industry.
  • 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.
  • VSEC's Quick ratio of 1.41 is in line compared to the rest of the industry. VSEC outperforms 50.00% of its industry peers.
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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6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 18.57% over the past year.
  • The earnings per share for VSEC have been decreasing by -23.99% on average. This is quite bad
  • The Revenue has grown by 9.22% in the past year. This is quite good.
  • VSEC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.49% yearly.
EPS 1Y (TTM)18.57%
EPS 3Y10.22%
EPS 5Y-23.99%
EPS Q2Q%39.44%
Revenue 1Y (TTM)9.22%
Revenue growth 3Y12.88%
Revenue growth 5Y7.49%
Sales Q2Q%3.4%

3.2 Future

  • The Earnings Per Share is expected to grow by 14.81% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 18.24% on average over the next years. This is quite good.
EPS Next Y16.68%
EPS Next 2Y20.13%
EPS Next 3Y20.8%
EPS Next 5Y14.81%
Revenue Next Year2.39%
Revenue Next 2Y9.33%
Revenue Next 3Y10.03%
Revenue Next 5Y18.24%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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 1 2 3 4 5

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2

4. Valuation

4.1 Price/Earnings Ratio

  • VSEC is valuated quite expensively with a Price/Earnings ratio of 53.59.
  • VSEC's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of VSEC to the average of the S&P500 Index (28.18), we can say VSEC is valued expensively.
  • The Price/Forward Earnings ratio is 43.32, which means the current valuation is very expensive for VSEC.
  • VSEC's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. VSEC is cheaper than 62.50% of the companies in the same industry.
  • VSEC is valuated expensively when we compare the Price/Forward Earnings ratio to 25.51, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 53.59
Fwd PE 43.32
VSEC Price Earnings VS Forward Price EarningsVSEC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • VSEC's Enterprise Value to EBITDA ratio is in line with the industry average.
  • VSEC's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 169.32
EV/EBITDA 39.62
VSEC Per share dataVSEC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

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 20.80% in the coming years.
PEG (NY)3.21
PEG (5Y)N/A
EPS Next 2Y20.13%
EPS Next 3Y20.8%

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5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.18%, VSEC is not a good candidate for dividend investing.
  • 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 1.83, 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.
  • The dividend of VSEC is growing, but earnings are growing more, so the dividend growth is sustainable.
DP73.55%
EPS Next 2Y20.13%
EPS Next 3Y20.8%
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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VSE CORP

NASDAQ:VSEC (2/3/2026, 8:00:02 PM)

After market: 194 -1.05 (-0.54%)

195.05

+4.12 (+2.16%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)10-27
Earnings (Next)02-26
Inst Owners103.9%
Inst Owner Change1.2%
Ins Owners1.99%
Ins Owner Change0.3%
Market Cap4.56B
Revenue(TTM)1.11B
Net Income(TTM)11.20M
Analysts87.5
Price Target214.61 (10.03%)
Short Float %8.78%
Short Ratio6.83
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-Date01-15
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)1.39%
PT rev (3m)11.28%
EPS NQ rev (1m)0.66%
EPS NQ rev (3m)-6.82%
EPS NY rev (1m)-0.84%
EPS NY rev (3m)2.56%
Revenue NQ rev (1m)0.16%
Revenue NQ rev (3m)-1.27%
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)0.36%
Valuation
Industry RankSector Rank
PE 53.59
Fwd PE 43.32
P/S 4.11
P/FCF 169.32
P/OCF 102.01
P/B 4.64
P/tB 12.93
EV/EBITDA 39.62
EPS(TTM)3.64
EY1.87%
EPS(NY)4.5
Fwd EY2.31%
FCF(TTM)1.15
FCFY0.59%
OCF(TTM)1.91
OCFY0.98%
SpS47.46
BVpS42.04
TBVpS15.08
PEG (NY)3.21
PEG (5Y)N/A
Graham Number58.68
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 6.4
F-Score7
WACC10.5%
ROIC/WACC0.46
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)18.57%
EPS 3Y10.22%
EPS 5Y-23.99%
EPS Q2Q%39.44%
EPS Next Y16.68%
EPS Next 2Y20.13%
EPS Next 3Y20.8%
EPS Next 5Y14.81%
Revenue 1Y (TTM)9.22%
Revenue growth 3Y12.88%
Revenue growth 5Y7.49%
Sales Q2Q%3.4%
Revenue Next Year2.39%
Revenue Next 2Y9.33%
Revenue Next 3Y10.03%
Revenue Next 5Y18.24%
EBIT growth 1Y-10.63%
EBIT growth 3Y63.86%
EBIT growth 5Y10.52%
EBIT Next Year118.74%
EBIT Next 3Y45.9%
EBIT Next 5Y31.19%
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 53.59 and the Price/Book (PB) ratio is 4.64.


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%.