What is VSE Corporation Tangible Equity Units's earnings per share (EPS)?

VSE Corporation Tangible Equity Units (VSECU) reported diluted earnings per share of $0.55 for fiscal year 2025. This represents a -35.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

VSE Corporation Tangible Equity Units (VSECU) Financials

VSECU

Trailing 12 months to June 30, 2026

Revenue $1.4B +41.6% YoY

Net Income $75.1M +296.4% YoY

EPS (Diluted) $2.78 +159.8% YoY

Free Cash Flow -$1.1M -108.4% YoY

Market Cap $1.4B as of Sep 14, 2026

Price / Sales 1.0x on $1.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 18.7x on $75.1M net income, trailing 12 months to June 30, 2026

Price / Book 0.5x on $2.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VSECU SEC filings page.

VSE Corporation Tangible Equity Units (VSECU) reported $1.4B in revenue over the twelve months to Jun 30, 2026, up 41.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VSECU FY2025 2026-09-05

Rapid scale is accompanied by balance-sheet expansion, while cash conversion turns positive without lifting bottom-line returns.

Compared with FY2024, FY2025 kept operating margin near 8.1% but net margin fell to only 1.1%. That spread shows the operating improvement was absorbed below operating income rather than reaching shareholders at the same rate, leaving returns on equity at just 0.8%.

Operating cash flow moved from -$31.0M in FY2024 to $27.0M in FY2025, showing that cash conversion recovered after a disrupted period. Free cash flow was $5.7M after a $51.7M outflow in FY2024, so reinvestment no longer exceeded internally generated cash in the latest year.

The balance sheet became less debt-dependent: the current ratio improved from 3.2x to 3.8x, while debt-to-equity fell from 0.4x to 0.2x. At the same time, goodwill increased from $428M to $641M, meaning much of the enlarged asset base is represented by intangible value rather than operating assets alone.

Financial Health Signals

Financial health score not available

VSE Corporation Tangible Equity Units does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Grey Zone

2.78

VSE Corporation Tangible Equity Units scores 2.78, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($589.8M). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

VSE Corporation Tangible Equity Units passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.31x

For every $1 of reported earnings, VSE Corporation Tangible Equity Units generates $2.31 in operating cash flow ($27.0M OCF vs $11.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.36x

VSE Corporation Tangible Equity Units earns $4.36 in operating income for every $1 of interest expense ($89.6M vs $20.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$449.1M

YoY+65.0%

QoQ+38.4%

VSE Corporation Tangible Equity Units generated $449.1M in revenue in Q2 2026. This represents an increase of 65.0% from the same quarter a year earlier. Against the prior quarter it is up 38.4%.

EBITDA

$72.9M

YoY+126.9%

QoQ+60.3%

VSE Corporation Tangible Equity Units's EBITDA was $72.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 126.9% from the same quarter a year earlier. Against the prior quarter it is up 60.3%.

Net Income

$28.5M

YoY+792.2%

QoQ-1.8%

VSE Corporation Tangible Equity Units reported $28.5M in net income in Q2 2026. This represents an increase of 792.2% from the same quarter a year earlier. Against the prior quarter it is down 1.8%.

EPS (Diluted)

$0.91

QoQ-12.5%

10Y CAGR+5.2%

VSE Corporation Tangible Equity Units earned $0.91 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 12.5%.

Cash & Balance Sheet

Free Cash Flow

$18.7M

YoY+196.5%

QoQ+127.2%

VSE Corporation Tangible Equity Units generated $18.7M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 196.5% from the same quarter a year earlier. Against the prior quarter it is up 127.2%.

Cash & Debt

$75.4M

YoY+345.8%

QoQ-93.9%

5Y CAGR+195.1%

10Y CAGR+60.1%

VSE Corporation Tangible Equity Units held $75.4M in cash against $915.0M in long-term debt as of Q2 2026.

Dividends Per Share

$0.10

QoQ0.0%

5Y CAGR+2.1%

10Y CAGR+5.2%

VSE Corporation Tangible Equity Units paid $0.10 per share in dividends in Q2 2026. It is unchanged from the prior quarter.

Shares Outstanding

28M

QoQ0.0%

5Y CAGR+17.2%

10Y CAGR+17.9%

VSE Corporation Tangible Equity Units had 28M shares outstanding in Q2 2026. It is unchanged from the prior quarter.

Margins & Returns

Operating Margin

10.9%

YoY+2.6pp

QoQ+0.8pp

VSE Corporation Tangible Equity Units's operating margin was 10.9% in Q2 2026, reflecting core business profitability. This is up 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Net Margin

6.3%

YoY+5.2pp

QoQ-2.6pp

VSE Corporation Tangible Equity Units's net profit margin was 6.3% in Q2 2026, showing the share of revenue converted to profit. This is up 5.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.6 percentage points.

Return on Equity

1.0%

YoY+0.6pp

QoQ-0.1pp

VSE Corporation Tangible Equity Units's ROE was 1.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$8.9M

YoY+58.7%

QoQ+37.4%

5Y CAGR+23.8%

10Y CAGR+12.2%

VSE Corporation Tangible Equity Units invested $8.9M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 58.7% from the same quarter a year earlier. Against the prior quarter it is up 37.4%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

VSECU Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VSECU quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.4B	$1.1B+41.5%	$786.3M+44.5%	$544.0M-18.7%	$669.4M+39.1%	$481.4M-27.2%	$661.7M-12.1%	$752.6M+7.9%	$697.2M-8.3%	$760.1M+9.9%	$691.8M+29.6%	$534.0M+25.9%	$424.1M-10.1%	$471.6M-13.7%	$546.8M-5.9%	$580.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$291.8M+4.3%	$279.6M+8.4%	$258.0M+90.8%	$135.2M+4.8%	$129.0M+5.6%	$122.1M+67.3%	$73.0M
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$468.3M+13.6%	$412.2M+49.3%	$276.0M-4.5%	$288.8M-15.7%	$342.6M-19.3%	$424.6M-16.4%	$507.8M
SG&A Expenses	$23.6M	$13.3M-2.1%	$13.6M+91.3%	$7.1M+96.0%	$3.6M+5.2%	$3.5M+10.7%	$3.1M-25.6%	$4.2M+12.9%	$3.7M+52.9%	$2.4M-63.2%	$6.6M+101.0%	$3.3M-20.6%	$4.1M+26.0%	$3.3M-17.2%	$4.0M-23.9%	$5.2M
Operating Income	$124.3M	$89.6M+52.5%	$58.8M+17.2%	$50.1M-6.5%	$53.6M+2081.7%	-$2.7M-119.4%	$13.9M-76.9%	$60.3M+11.1%	$54.2M-0.2%	$54.3M+5.4%	$51.5M+2.0%	$50.5M+36.9%	$36.9M-16.3%	$44.1M-13.7%	$51.1M+41.6%	$36.1M
EBITDA	N/A	$129.5M+48.0%	$87.5M+19.0%	$73.6M-5.9%	$78.2M+257.4%	$21.9M-42.5%	$38.1M-56.3%	$87.2M+9.7%	$79.5M-0.9%	$80.2M+3.4%	$77.6M+2.0%	$76.1M+36.6%	$55.7M-13.1%	$64.1M-11.2%	$72.2M+41.2%	$51.2M
Interest Expense	N/A	$20.6M-41.2%	$34.9M+12.4%	$31.1M+73.7%	$17.9M+248.3%	-$12.1M+10.6%	-$13.5M+2.4%	-$13.8M-54.0%	-$9.0M+2.8%	-$9.2M+6.2%	-$9.9M-3.3%	-$9.5M-577.2%	$2.0M-45.9%	$3.7M-28.8%	$5.2M+67.7%	$3.1M
Income Tax	$26.3M	$15.5M+252.8%	$4.4M-2.0%	$4.5M-50.3%	$9.1M+340.2%	-$3.8M-167.3%	$5.6M-40.5%	$9.4M-7.5%	$10.2M+69.8%	$6.0M-59.8%	$14.9M-7.4%	$16.1M+29.0%	$12.5M-13.0%	$14.3M-13.1%	$16.5M+35.1%	$12.2M
Net Income	$75.1M	$11.7M-23.6%	$15.3M-60.8%	$39.1M+39.5%	$28.1M+252.2%	$8.0M+254.1%	-$5.2M-114.0%	$37.0M+5.5%	$35.1M-10.3%	$39.1M+45.9%	$26.8M+7.5%	$24.9M+28.7%	$19.4M-15.3%	$22.9M+7.3%	$21.3M+3.6%	$20.6M
EPS (Basic)	N/A	$0.55-36.0%	$0.86-69.0%	$2.77+25.9%	$2.20+249.2%	$0.63+234.0%	-$0.47-113.9%	$3.38+4.6%	$3.23-10.5%	$3.61+45.6%	$2.48+6.9%	$2.32+28.2%	$1.81-57.8%	$4.29+6.5%	$4.03+2.5%	$3.93
EPS (Diluted)	$2.78	$0.55-35.3%	$0.85-69.2%	$2.76+26.0%	$2.19+247.6%	$0.63+234.0%	-$0.47-114.0%	$3.35+4.4%	$3.21-10.8%	$3.60+45.7%	$2.47	$2.31+27.6%	$1.81	$4.28+6.7%	$4.01+2.8%	$3.90
Diluted Shares (Avg)	N/A	21M+18.2%	18M+26.7%	14M+10.6%	13M+1.5%	13M+14.5%	11M-0.1%	11M+1.0%	11M+0.6%	11M+0.4%	11M	11M+0.4%	11M	5M+0.6%	5M+0.8%	5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$449.1M+65.0%	$324.6M+26.8%	$301.2M+32.4%	$282.9M+38.9%	$272.1M+41.1%	$256.0M+57.7%	$227.4M	$203.6M-12.0%
SG&A Expenses	$9.0M+245.2%	$6.2M+168.3%	$7.7M+76.8%	$667K-73.8%	$2.6M-30.8%	$2.3M-21.0%	$4.4M	$2.5M-0.5%
Operating Income	$49.0M+117.5%	$32.7M+33.6%	$32.5M+59.0%	$10.1M-49.7%	$22.5M+765.2%	$24.5M+56.6%	$20.4M	$20.1M-20.6%
EBITDA	$72.9M+126.9%	$45.5M+32.2%	$42.7M+48.3%	$20.3M-26.6%	$32.1M+237.5%	$34.4M+59.4%	$28.8M	$27.6M-10.1%
Interest Expense	$5.2M-18.9%	N/A	$1.8M-73.6%	$4.3M-51.7%	$6.4M-34.4%	$7.9M-13.6%	$6.9M	$9.0M+6.2%
Income Tax	$10.7M+341.6%	$5.1M+96.2%	$8.4M+170.7%	$2.2M-7.9%	$2.4M+225.5%	$2.6M+185.1%	$3.1M	$2.3M-50.1%
Net Income	$28.5M+792.2%	$29.1M+423.8%	$13.6M+3.9%	$3.9M-66.4%	$3.2M+215.1%	-$9.0M-35.7%	$13.1M	$11.7M+21.9%
EPS (Basic)	$0.92+513.3%	$1.06+346.5%	$0.64-12.3%	$0.19-69.8%	$0.15+193.8%	-$0.43-2.4%	$0.73-1.4%	$0.63-1.6%
EPS (Diluted)	$0.91	$1.04+336.4%	$0.64-11.1%	$0.19-69.8%	$0.16+200.0%	-$0.44-7.3%	$0.72-2.7%	$0.630.0%
Diluted Shares (Avg)	31M	28M+34.2%	N/A	21M+12.3%	21M+20.5%	21M+30.1%	N/A	18M+22.8%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

VSECU Balance Sheet

VSECU quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.0B+16.4%	$1.7B+29.1%	$1.4B+35.1%	$999.8M+8.8%	$918.6M+17.8%	$780.1M-7.8%	$845.9M+32.4%	$638.8M+1.6%	$629.0M-5.0%	$661.8M+7.2%	$617.4M+73.7%	$355.3M-6.6%	$380.5M-7.2%	$410.2M-9.7%	$454.5M
Current Assets	$893.3M-7.5%	$965.3M+24.7%	$774.0M+41.0%	$548.9M+18.3%	$464.0M+30.7%	$355.0M-0.1%	$355.3M+26.4%	$281.2M+13.1%	$248.5M-3.8%	$258.5M+30.9%	$197.5M+61.4%	$122.4M-5.5%	$129.4M-11.3%	$146.0M-18.2%	$178.4M
Cash & Equivalents	$69.4M+135.1%	$29.5M+279.8%	$7.8M+2446.9%	$305K-41.1%	$518K+37.0%	$378K-48.5%	$734K+353.1%	$162K-74.0%	$624K+45.8%	$428K-42.2%	$740K+181.4%	$263K+19.5%	$220K-85.3%	$1.5M+232.8%	$451K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$553.8M+27.6%	$434.1M-13.3%	$500.9M+31.7%	$380.4M+17.9%	$322.7M+27.3%	$253.4M+15.9%	$218.6M+31.4%	$166.4M+25.5%	$132.6M-2.7%	$136.3M+24.9%	$109.1M+121.1%	$49.4M+25.6%	$39.3M-5.4%	$41.6M-1.0%	$42.0M
Accounts Receivable	$190.7M+20.6%	$158.1M+23.6%	$128.0M+41.2%	$90.6M+18.3%	$76.6M+38.1%	$55.5M-21.5%	$70.6M+17.7%	$60.0M+7.6%	$55.8M-44.9%	$101.2M+29.0%	$78.5M+32.1%	$59.4M-24.2%	$78.4M-13.5%	$90.6M-22.9%	$117.6M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$641.2M+49.7%	$428.3M+48.4%	$288.6M+32.8%	$217.3M0.0%	$217.3M-8.8%	$238.1M-13.9%	$276.4M+39.2%	$198.6M0.0%	$198.6M0.0%	$198.6M0.0%	$198.5M+115.7%	$92.1M0.0%	$92.1M0.0%	$92.1M-6.9%	$98.9M
Total Liabilities	$589.8M-21.8%	$754.4M+2.8%	$733.6M+33.3%	$550.3M+9.8%	$501.2M+18.3%	$423.8M-12.2%	$482.8M+55.5%	$310.4M-7.6%	$335.9M-17.4%	$406.6M+4.8%	$388.0M+159.0%	$149.8M-22.7%	$193.7M-21.2%	$245.9M-20.9%	$310.9M
Current Liabilities	$237.5M-20.4%	$298.5M+4.0%	$286.9M+27.7%	$224.6M+24.8%	$180.0M+29.3%	$139.2M-15.2%	$164.2M+56.5%	$104.9M-8.0%	$114.0M-23.2%	$148.4M+53.5%	$96.7M+10.5%	$87.5M+7.0%	$81.7M+0.9%	$81.0M-24.5%	$107.3M
Non-Current Liabilities	$352.3M-22.7%	$455.9M+2.1%	$446.7M+37.2%	$325.7M+1.4%	$321.3M+12.9%	$284.5M-10.7%	$318.6M+55.0%	$205.6M-7.4%	$221.9M-14.0%	$258.2M-11.4%	$291.4M+367.3%	$62.3M-44.3%	$112.0M-32.1%	$164.9M-19.0%	$203.6M
Long-Term Debt	$285.3M-28.7%	$400.2M-1.6%	$406.8M+47.2%	$276.3M+2.2%	$270.4M+17.2%	$230.7M-8.9%	$253.1M+67.5%	$151.1M-8.7%	$165.6M-14.5%	$193.6M-10.0%	$215.2M+813.5%	$23.6M-63.5%	$64.5M-44.6%	$116.4M-19.6%	$144.8M
Total Equity	$1.4B+45.6%	$988.2M+60.2%	$616.7M+37.2%	$449.5M+7.7%	$417.3M+17.1%	$356.3M-1.9%	$363.1M+10.6%	$328.4M+12.0%	$293.1M+14.9%	$255.2M+11.3%	$229.3M+11.6%	$205.5M+10.0%	$186.8M+13.7%	$164.3M+14.4%	$143.6M
Retained Earnings	$395.6M+0.8%	$392.5M+2.0%	$384.7M+9.5%	$351.3M+7.0%	$328.4M+1.0%	$325.1M-2.7%	$334.2M+11.0%	$301.1M+12.4%	$267.9M+15.6%	$231.7M+11.7%	$207.5M+12.2%	$184.9M+10.3%	$167.6M+14.3%	$146.6M+15.5%	$127.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$4.4B+174.5%	$3.3B+91.0%	$2.0B+16.4%	$1.6B+6.6%	$1.6B+7.2%	$1.7B+29.6%	$1.7B+29.1%	$1.5B+9.0%
Current Assets	$1.3B+75.9%	$2.2B+123.0%	$893.3M-7.5%	$722.3M-6.8%	$753.6M-5.4%	$968.9M+30.4%	$965.3M+24.7%	$775.3M+0.6%
Cash & Equivalents	$75.4M+345.8%	$1.2B+21602.1%	$69.4M+135.1%	$8.8M+11.1%	$16.9M-11.0%	$5.7M-46.0%	$29.5M+279.8%	$7.9M-61.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$867.1M+87.2%	$625.7M+41.7%	$553.8M+27.6%	$464.3M-13.0%	$463.2M-13.0%	$441.5M-15.3%	$434.1M-13.3%	$533.8M+8.0%
Accounts Receivable	$274.6M+49.9%	$216.5M+27.7%	$190.7M+20.6%	$176.4M+8.4%	$183.2M+8.9%	$169.5M+16.6%	$158.1M+23.6%	$162.7M+26.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.8B+322.3%	$638.9M+50.8%	$641.2M+49.7%	$428.7M+9.7%	$428.7M+9.9%	$423.6M+20.6%	$428.3M+48.4%	$390.6M+13.0%
Total Liabilities	$1.5B+135.2%	$644.4M-14.9%	$589.8M-21.8%	$577.1M-14.7%	$622.5M-12.7%	$757.2M+4.6%	$754.4M+2.8%	$676.2M-7.8%
Current Liabilities	$351.8M+74.1%	$246.2M-0.8%	$237.5M-20.4%	$183.4M-12.7%	$202.0M-10.5%	$248.3M+11.3%	$298.5M+4.0%	$210.1M-16.7%
Non-Current Liabilities	$1.1B+164.5%	$398.3M-21.7%	$352.3M-22.7%	$393.8M-15.5%	$420.5M-13.7%	$508.9M+1.6%	$455.9M+2.1%	$466.1M-3.2%
Long-Term Debt	$915.0M+146.2%	$331.1M-27.9%	$285.3M-28.7%	$348.6M-17.1%	$371.7M-14.3%	$459.4M+1.7%	$400.2M-1.6%	$420.3M-4.9%
Total Equity	$2.9B+199.5%	$2.7B+173.2%	$1.4B+45.6%	$983.3M+24.8%	$979.5M+25.4%	$975.7M+59.2%	$988.2M+60.2%	$787.8M+29.2%
Retained Earnings	$447.6M+17.0%	$421.9M+10.6%	$395.6M+0.8%	$384.4M+0.7%	$382.6M+2.9%	$381.4M+1.3%	$392.5M+2.0%	$381.7M+1.9%

VSECU Cash Flow Statement

VSECU quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$27.0M	$27.0M+187.0%	-$31.0M-42.2%	-$21.8M-371.1%	$8.1M+145.7%	-$17.6M-149.2%	$35.8M+98.7%	$18.0M-4.6%	$18.9M-62.6%	$50.4M+6.8%	$47.2M+25.6%	$37.6M-24.4%	$49.7M-12.2%	$56.6M-5.4%	$59.8M+72.4%	$34.7M
Depreciation & Amortization	N/A	$39.9M+38.8%	$28.8M+22.8%	$23.4M-4.8%	$24.6M+0.1%	$24.6M+1.9%	$24.1M-10.4%	$26.9M+6.8%	$25.2M-2.5%	$25.9M-0.6%	$26.0M+2.0%	$25.5M+36.1%	$18.8M-6.2%	$20.0M-5.4%	$21.2M+40.2%	$15.1M
Stock-Based Compensation	N/A	$12.8M+54.4%	$8.3M+7.5%	$7.7M+73.3%	$4.5M+13.6%	$3.9M+37.6%	$2.9M-12.4%	$3.3M+7.8%	$3.0M-1.3%	$3.1M+45.5%	$2.1M+1.3%	$2.1M+19.7%	$1.7M+10.3%	$1.6M+46.5%	$1.1M-24.6%	$1.4M
Capital Expenditures	$28.1M	$21.3M+2.8%	$20.7M+10.9%	$18.7M+66.5%	$11.2M+6.6%	$10.5M+137.6%	$4.4M-54.0%	$9.6M+209.0%	$3.1M-16.7%	$3.7M-42.8%	$6.5M-38.0%	$10.6M+209.4%	$3.4M-22.7%	$4.4M-78.8%	$20.9M+214.4%	$6.6M
Free Cash Flow	-$1.1M	$5.7M+111.0%	-$51.7M-27.8%	-$40.5M-1181.1%	-$3.2M+88.8%	-$28.1M-189.7%	$31.3M+274.6%	$8.4M-46.9%	$15.7M-66.3%	$46.7M+14.8%	$40.6M+50.5%	$27.0M-41.7%	$46.3M-11.3%	$52.2M+34.0%	$38.9M+38.8%	$28.1M
Investing Cash Flow	-$2.2B	-$276.5M-4.8%	-$263.7M-11.9%	-$235.7M-9815.4%	-$2.4M+96.1%	-$61.6M-404.8%	$20.2M+116.5%	-$122.8M-9383.2%	-$1.3M+57.0%	-$3.0M+53.4%	-$6.5M+96.8%	-$205.2M-5910.3%	-$3.4M+22.7%	-$4.4M+82.7%	-$25.5M+86.0%	-$181.6M
Financing Cash Flow	$2.2B	$289.8M-8.2%	$315.8M+19.2%	$265.0M+4737.2%	-$5.7M-107.2%	$79.4M+240.9%	-$56.3M-153.5%	$105.4M+684.8%	-$18.0M+61.8%	-$47.2M-15.0%	-$41.0M-124.4%	$168.1M+463.4%	-$46.3M+13.5%	-$53.5M-60.6%	-$33.3M-123.5%	$141.6M
Dividends Paid	$9.3M	$8.3M+17.0%	$7.1M+29.9%	$5.4M+6.4%	$5.1M+15.5%	$4.4M+11.5%	$4.0M+6.5%	$3.7M+14.2%	$3.3M+15.8%	$2.8M+13.5%	$2.5M+9.9%	$2.3M+11.0%	$2.0M+12.3%	$1.8M+14.3%	$1.6M+16.5%	$1.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$27.6M+131.7%	-$62.3M-33.5%	$37.6M-32.0%	$24.1M+136.7%	$11.9M+167.8%	-$46.6M+41.0%	$55.4M+98.2%	$10.2M-33.6%
Depreciation & Amortization	$24.0M+148.8%	$12.7M+28.7%	$10.2M+22.1%	$10.2M+35.1%	$9.6M+39.2%	$9.9M+66.6%	$8.4M+40.2%	$7.5M+38.4%
Stock-Based Compensation	N/A	$4.6M+30.1%	N/A	N/A	N/A	$3.5M+41.0%	N/A	N/A
Capital Expenditures	$8.9M+58.7%	$6.5M+124.6%	$6.8M+107.3%	$6.0M+4.9%	$5.6M+41.7%	$2.9M-62.8%	$3.3M-58.5%	$5.8M+23.8%
Free Cash Flow	$18.7M+196.5%	-$68.7M-38.8%	$30.9M-40.8%	$18.0M+309.0%	$6.3M+129.3%	-$49.5M+43.0%	$52.1M+159.6%	$4.4M-58.6%
Investing Cash Flow	-$1.8B-2238.0%	-$27.1M-20898.4%	-$353.0M-100.4%	-$6.1M-6.1%	$82.7M+171.8%	-$129K-100.4%	-$176.1M-2164.6%	-$5.7M+97.3%
Financing Cash Flow	$577.6M+754.6%	$1.3B+4359.8%	$375.9M+165.0%	-$26.2M-68.2%	-$88.2M-162.5%	$28.2M-41.5%	$141.9M+529.2%	-$15.6M-107.3%
Dividends Paid	$2.8M+35.8%	$2.3M+13.6%	$2.1M+1.3%	$2.1M+12.2%	$2.1M+29.3%	$2.1M+30.6%	$2.0M+29.6%	$1.8M+42.9%

Not reported in any period shown, so not listed: Share Buybacks.

VSECU Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VSECU quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	61.6%+2.0pp	59.6%+7.9pp	51.7%-16.4pp	68.1%-4.5pp	72.6%-5.0pp	77.7%-9.8pp	87.4%
Operating Margin	8.1%+0.6pp	7.5%-1.8pp	9.2%+1.2pp	8.0%+8.6pp	-0.6%-2.7pp	2.1%-5.9pp	8.0%+0.2pp	7.8%+0.6pp	7.1%-0.3pp	7.4%-2.0pp	9.5%+0.8pp	8.7%-0.6pp	9.3%0.0pp	9.3%+3.1pp	6.2%
Net Margin	1.1%-0.9pp	1.9%-5.2pp	7.2%+3.0pp	4.2%+2.5pp	1.7%+2.4pp	-0.8%-5.7pp	4.9%-0.1pp	5.0%-0.1pp	5.1%+1.3pp	3.9%-0.8pp	4.7%+0.1pp	4.6%-0.3pp	4.9%+1.0pp	3.9%+0.3pp	3.5%
Return on Equity	0.8%-0.7pp	1.6%-4.8pp	6.3%+0.1pp	6.2%+4.3pp	1.9%+3.4pp	-1.5%-11.6pp	10.2%-0.5pp	10.7%-2.7pp	13.3%+2.8pp	10.5%-0.4pp	10.9%+1.4pp	9.4%-2.8pp	12.2%-0.7pp	13.0%-1.4pp	14.3%
Return on Assets	0.6%-0.3pp	0.9%-2.0pp	2.9%+0.1pp	2.8%+1.9pp	0.9%+1.5pp	-0.7%-5.0pp	4.4%-1.1pp	5.5%-0.7pp	6.2%+2.2pp	4.0%0.0pp	4.0%-1.4pp	5.5%-0.6pp	6.0%+0.8pp	5.2%+0.7pp	4.5%
Current Ratio	3.76+0.5x	3.23+0.5x	2.70+0.3x	2.44-0.1x	2.580.0x	2.55+0.4x	2.16-0.5x	2.68+0.5x	2.18+0.4x	1.74-0.3x	2.04+0.6x	1.40-0.2x	1.58-0.2x	1.80+0.1x	1.66
Debt-to-Equity	0.20-0.2x	0.41-0.3x	0.660.0x	0.610.0x	0.650.0x	0.650.0x	0.70+0.2x	0.46-0.1x	0.57-0.2x	0.76-0.2x	0.94+0.8x	0.11-0.2x	0.35-0.4x	0.71-0.3x	1.01
Asset Turnover	0.55+0.1x	0.450.0x	0.40-0.3x	0.67+0.1x	0.52-0.3x	0.850.0x	0.89-0.2x	1.09-0.1x	1.21+0.2x	1.05+0.2x	0.86-0.3x	1.190.0x	1.24-0.1x	1.33+0.1x	1.28
FCF Margin	0.5%+7.1pp	-6.6%+0.9pp	-7.4%-7.0pp	-0.5%+5.4pp	-5.8%-10.6pp	4.7%+3.6pp	1.1%-1.1pp	2.3%-3.9pp	6.1%+0.3pp	5.9%+0.8pp	5.1%-5.9pp	10.9%-0.1pp	11.1%+3.9pp	7.1%+2.3pp	4.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	10.9%+2.6pp	10.1%+0.5pp	10.8%+1.8pp	3.6%-6.3pp	8.3%+6.9pp	9.6%-0.1pp	9.0%	9.9%-1.1pp
Net Margin	6.3%+5.2pp	8.9%+12.4pp	4.5%-1.2pp	1.4%-4.3pp	1.2%+2.6pp	-3.5%+0.6pp	5.7%	5.7%+1.6pp
Return on Equity	1.0%+0.6pp	1.1%+2.0pp	0.9%-0.4pp	0.4%-1.1pp	0.3%+0.7pp	-0.9%+0.2pp	1.3%	1.5%-0.1pp
Return on Assets	0.7%+0.4pp	0.9%+1.4pp	0.7%-0.1pp	0.3%-0.5pp	0.2%+0.4pp	-0.5%0.0pp	0.8%	0.8%+0.1pp
Current Ratio	3.770.0x	8.78+4.9x	3.76+0.5x	3.94+0.2x	3.73+0.2x	3.90+0.6x	3.23+0.5x	3.69+0.6x
Debt-to-Equity	0.31-0.1x	0.12-0.3x	0.20-0.2x	0.35-0.2x	0.38-0.2x	0.47-0.3x	0.41-0.3x	0.53-0.2x
Asset Turnover	0.10-0.1x	0.100.0x	0.150.0x	0.180.0x	0.170.0x	0.150.0x	0.13	0.140.0x
FCF Margin	4.2%+1.8pp	-21.2%-1.8pp	10.3%-12.7pp	6.4%+4.2pp	2.3%+13.5pp	-19.3%+34.1pp	22.9%	2.2%-2.4pp

Not reported in any period shown, so not listed: Gross Margin.

Where VSE Corporation Tangible Equity Units Ranks

Frequently Asked Questions

What is VSE Corporation Tangible Equity Units's annual revenue?

VSE Corporation Tangible Equity Units (VSECU) reported $1.1B in total revenue for fiscal year 2025. This represents a 41.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is VSE Corporation Tangible Equity Units's revenue growing?

VSE Corporation Tangible Equity Units (VSECU) revenue grew by 41.5% year-over-year, from $786.3M to $1.1B in fiscal year 2025.

Is VSE Corporation Tangible Equity Units profitable?

Yes, VSE Corporation Tangible Equity Units (VSECU) reported a net income of $11.7M in fiscal year 2025, with a net profit margin of 1.1%.

What is VSE Corporation Tangible Equity Units's EBITDA?

VSE Corporation Tangible Equity Units (VSECU) had EBITDA of $129.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does VSE Corporation Tangible Equity Units have?

As of fiscal year 2025, VSE Corporation Tangible Equity Units (VSECU) had $69.4M in cash and equivalents against $285.3M in long-term debt.

What is VSE Corporation Tangible Equity Units's operating margin?

VSE Corporation Tangible Equity Units (VSECU) had an operating margin of 8.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is VSE Corporation Tangible Equity Units's net profit margin?

VSE Corporation Tangible Equity Units (VSECU) had a net profit margin of 1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does VSE Corporation Tangible Equity Units pay dividends?

Yes, VSE Corporation Tangible Equity Units (VSECU) paid $0.40 per share in dividends during fiscal year 2025.

What is VSE Corporation Tangible Equity Units's return on equity (ROE)?

VSE Corporation Tangible Equity Units (VSECU) has a return on equity of 0.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is VSE Corporation Tangible Equity Units's free cash flow?

VSE Corporation Tangible Equity Units (VSECU) generated $5.7M in free cash flow during fiscal year 2025. This represents a 111.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is VSE Corporation Tangible Equity Units's operating cash flow?

VSE Corporation Tangible Equity Units (VSECU) generated $27.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are VSE Corporation Tangible Equity Units's total assets?

VSE Corporation Tangible Equity Units (VSECU) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are VSE Corporation Tangible Equity Units's capital expenditures?

VSE Corporation Tangible Equity Units (VSECU) invested $21.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does VSE Corporation Tangible Equity Units have outstanding?

VSE Corporation Tangible Equity Units (VSECU) had 28M shares outstanding as of fiscal year 2025.

What is VSE Corporation Tangible Equity Units's current ratio?

VSE Corporation Tangible Equity Units (VSECU) had a current ratio of 3.76 as of fiscal year 2025, which is generally considered healthy.

What is VSE Corporation Tangible Equity Units's debt-to-equity ratio?

VSE Corporation Tangible Equity Units (VSECU) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is VSE Corporation Tangible Equity Units's return on assets (ROA)?

VSE Corporation Tangible Equity Units (VSECU) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is VSE Corporation Tangible Equity Units's P/E ratio?

VSE Corporation Tangible Equity Units (VSECU) trades at 18.7x earnings, its market capitalization divided by net income of $75.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is VSE Corporation Tangible Equity Units's price-to-sales ratio?

VSE Corporation Tangible Equity Units (VSECU) trades at 1.0x sales, its market capitalization divided by revenue of $1.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is VSE Corporation Tangible Equity Units's Altman Z-Score?

VSE Corporation Tangible Equity Units (VSECU) has an Altman Z-Score of 2.78, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is VSE Corporation Tangible Equity Units's Piotroski F-Score?

VSE Corporation Tangible Equity Units (VSECU) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are VSE Corporation Tangible Equity Units's earnings high quality?

VSE Corporation Tangible Equity Units (VSECU) has an earnings quality ratio of 2.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can VSE Corporation Tangible Equity Units cover its interest payments?

VSE Corporation Tangible Equity Units (VSECU) has an interest coverage ratio of 4.36x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.