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VSE CORP (VSEC) Stock Fundamental Analysis

NASDAQ:VSEC - Nasdaq - US9182841000 - Common Stock - Currency: USD

134.02  -3.93 (-2.85%)

After market: 134.02 0 (0%)

Fundamental Rating

4

Overall VSEC gets a fundamental rating of 4 out of 10. We evaluated VSEC against 83 industry peers in the Commercial Services & Supplies industry. VSEC has only an average score on both its financial health and profitability. While showing a medium growth rate, VSEC is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

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.
In multiple years VSEC reported negative operating cash flow during the last 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

VSEC has a Return On Assets (0.75%) which is comparable to the rest of the industry.
The Return On Equity of VSEC (1.33%) is comparable to the rest of the industry.
VSEC's Return On Invested Capital of 5.16% is in line compared to the rest of the industry. VSEC outperforms 51.81% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for VSEC is significantly below the industry average of 11.67%.
Industry RankSector Rank
ROA 0.75%
ROE 1.33%
ROIC 5.16%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

VSEC has a Profit Margin (1.18%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of VSEC has declined.
Looking at the Operating Margin, with a value of 9.08%, VSEC is in the better half of the industry, outperforming 66.27% of the companies in the same industry.
In the last couple of years the Operating Margin of VSEC has grown nicely.
Looking at the Gross Margin, with a value of 11.72%, VSEC is doing worse than 85.54% of the companies in the same industry.
VSEC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.08%
PM (TTM) 1.18%
GM 11.72%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VSEC is destroying value.
Compared to 1 year ago, VSEC has more shares outstanding
VSEC has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, VSEC has an improved debt to assets ratio.
VSEC Yearly Shares OutstandingVSEC Yearly Shares OutstandingYearly Shares Outstanding 2015 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

An Altman-Z score of 3.89 indicates that VSEC is not in any danger for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.89, VSEC is in the better half of the industry, outperforming 74.70% of the companies in the same industry.
VSEC has a Debt/Equity ratio of 0.47. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.47, VSEC is in line with its industry, outperforming 49.40% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF N/A
Altman-Z 3.89
ROIC/WACC0.5
WACC10.24%
VSEC Yearly LT Debt VS Equity VS FCFVSEC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

A Current Ratio of 3.90 indicates that VSEC has no problem at all paying its short term obligations.
VSEC's Current ratio of 3.90 is amongst the best of the industry. VSEC outperforms 86.75% of its industry peers.
VSEC has a Quick Ratio of 2.12. This indicates that VSEC is financially healthy and has no problem in meeting its short term obligations.
VSEC has a Quick ratio of 2.12. This is amongst the best in the industry. VSEC outperforms 84.34% of its industry peers.
Industry RankSector Rank
Current Ratio 3.9
Quick Ratio 2.12
VSEC Yearly Current Assets VS Current LiabilitesVSEC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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4

3. Growth

3.1 Past

The earnings per share for VSEC have decreased strongly by -12.43% in the last year.
The earnings per share for VSEC have been decreasing by -23.99% on average. This is quite bad
Looking at the last year, VSEC shows a quite strong growth in Revenue. The Revenue has grown by 19.83% in the last year.
VSEC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.49% yearly.
EPS 1Y (TTM)-12.43%
EPS 3Y10.22%
EPS 5Y-23.99%
EPS Q2Q%-10.34%
Revenue 1Y (TTM)19.83%
Revenue growth 3Y12.88%
Revenue growth 5Y7.49%
Sales Q2Q%6.01%

3.2 Future

Based on estimates for the next years, VSEC will show a very strong growth in Earnings Per Share. The EPS will grow by 23.43% on average per year.
Based on estimates for the next years, VSEC will show a small growth in Revenue. The Revenue will grow by 3.65% on average per year.
EPS Next Y9.71%
EPS Next 2Y21.54%
EPS Next 3Y23.43%
EPS Next 5YN/A
Revenue Next Year2.2%
Revenue Next 2Y6.79%
Revenue Next 3Y8.86%
Revenue Next 5Y3.65%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
VSEC Yearly Revenue VS EstimatesVSEC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B
VSEC Yearly EPS VS EstimatesVSEC Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4 5

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1

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 44.23 indicates a quite expensive valuation of VSEC.
VSEC's Price/Earnings is on the same level as the industry average.
VSEC's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.57.
VSEC is valuated quite expensively with a Price/Forward Earnings ratio of 29.08.
VSEC's Price/Forward Earnings ratio is in line with the industry average.
VSEC is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.41, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 44.23
Fwd PE 29.08
VSEC Price Earnings VS Forward Price EarningsVSEC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

62.65% of the companies in the same industry are cheaper than VSEC, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 25.07
VSEC Per share dataVSEC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
VSEC's earnings are expected to grow with 23.43% in the coming years. This may justify a more expensive valuation.
PEG (NY)4.56
PEG (5Y)N/A
EPS Next 2Y21.54%
EPS Next 3Y23.43%

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5

5. Dividend

5.1 Amount

With a yearly dividend of 0.28%, VSEC is not a good candidate for dividend investing.
VSEC's Dividend Yield is a higher than the industry average which is at 2.56.
With a Dividend Yield of 0.28, VSEC pays less dividend than the S&P500 average, which is at 2.40.
Industry RankSector Rank
Dividend Yield 0.28%

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0 0 0 0

5.3 Sustainability

58.19% of the earnings are spent on dividend by VSEC. This is a bit on the high side, but may be sustainable.
The dividend of VSEC is growing, but earnings are growing more, so the dividend growth is sustainable.
DP58.19%
EPS Next 2Y21.54%
EPS Next 3Y23.43%
VSEC Yearly Income VS Free CF VS DividendVSEC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 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 (6/16/2025, 4:30:01 PM)

After market: 134.02 0 (0%)

134.02

-3.93 (-2.85%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)05-06 2025-05-06/amc
Earnings (Next)07-29 2025-07-29/amc
Inst Owners116.88%
Inst Owner Change10.36%
Ins Owners2.28%
Ins Owner Change1.69%
Market Cap2.77B
Analysts84.62
Price Target150.53 (12.32%)
Short Float %9.55%
Short Ratio7.07
Dividend
Industry RankSector Rank
Dividend Yield 0.28%
Yearly Dividend0.39
Dividend Growth(5Y)2.67%
DP58.19%
Div Incr Years0
Div Non Decr Years34
Ex-Date07-16 2025-07-16 (0.1)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)27.75%
Min EPS beat(2)22.89%
Max EPS beat(2)32.61%
EPS beat(4)3
Avg EPS beat(4)16.87%
Min EPS beat(4)-3.77%
Max EPS beat(4)32.61%
EPS beat(8)7
Avg EPS beat(8)15.37%
EPS beat(12)10
Avg EPS beat(12)15.38%
EPS beat(16)13
Avg EPS beat(16)12.02%
Revenue beat(2)2
Avg Revenue beat(2)1.82%
Min Revenue beat(2)1.7%
Max Revenue beat(2)1.93%
Revenue beat(4)3
Avg Revenue beat(4)1.31%
Min Revenue beat(4)-0.07%
Max Revenue beat(4)1.93%
Revenue beat(8)4
Avg Revenue beat(8)0.48%
Revenue beat(12)5
Avg Revenue beat(12)-3.82%
Revenue beat(16)9
Avg Revenue beat(16)-1.58%
PT rev (1m)7.12%
PT rev (3m)10.14%
EPS NQ rev (1m)0.21%
EPS NQ rev (3m)-3.48%
EPS NY rev (1m)0%
EPS NY rev (3m)-21.38%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)1.24%
Revenue NY rev (1m)0.18%
Revenue NY rev (3m)-7.78%
Valuation
Industry RankSector Rank
PE 44.23
Fwd PE 29.08
P/S 2.53
P/FCF N/A
P/OCF 1991.51
P/B 2.84
P/tB 7.67
EV/EBITDA 25.07
EPS(TTM)3.03
EY2.26%
EPS(NY)4.61
Fwd EY3.44%
FCF(TTM)-0.7
FCFYN/A
OCF(TTM)0.07
OCFY0.05%
SpS52.96
BVpS47.21
TBVpS17.47
PEG (NY)4.56
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.75%
ROE 1.33%
ROCE 6.69%
ROIC 5.16%
ROICexc 5.18%
ROICexgc 8.87%
OM 9.08%
PM (TTM) 1.18%
GM 11.72%
FCFM N/A
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%
ROICexcg growth 3Y31.62%
ROICexcg 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-Score4
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF N/A
Debt/EBITDA 3.48
Cap/Depr 48.44%
Cap/Sales 1.45%
Interest Coverage 250
Cash Conversion 1.05%
Profit Quality N/A
Current Ratio 3.9
Quick Ratio 2.12
Altman-Z 3.89
F-Score4
WACC10.24%
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)-12.43%
EPS 3Y10.22%
EPS 5Y-23.99%
EPS Q2Q%-10.34%
EPS Next Y9.71%
EPS Next 2Y21.54%
EPS Next 3Y23.43%
EPS Next 5YN/A
Revenue 1Y (TTM)19.83%
Revenue growth 3Y12.88%
Revenue growth 5Y7.49%
Sales Q2Q%6.01%
Revenue Next Year2.2%
Revenue Next 2Y6.79%
Revenue Next 3Y8.86%
Revenue Next 5Y3.65%
EBIT growth 1Y4.26%
EBIT growth 3Y63.86%
EBIT growth 5Y10.52%
EBIT Next Year86.07%
EBIT Next 3Y38.87%
EBIT Next 5YN/A
FCF growth 1Y58.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y106.2%
OCF growth 3YN/A
OCF growth 5YN/A