Financials in USD. Standardized financial statements.
A compact view of how VSE Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $1.11B | $1.08B | $860.49M | $669.45M | $750.85M | $661.66M | $752.63M | $697.22M | $760.11M | $691.79M |
| Revenue Growth? | +3.0% | +25.5% | +28.5% | -10.8% | +13.5% | -12.1% | +7.9% | -8.3% | +9.9% | 0.0% |
| Cost of Revenue? | $980.14M | $971.93M | $764.87M | $612.21M | $725.71M | $603.78M | $688.18M | $640.97M | $703.36M | $633.65M |
| Gross Profit? | $132.13M | $108.20M | $95.61M | $57.24M | $25.14M | $57.88M | $64.45M | $56.24M | $56.75M | $58.14M |
| Gross Margin? | +11.9% | +10.0% | +11.1% | +8.6% | +3.3% | +8.7% | +8.6% | +8.1% | +7.5% | +8.4% |
| Operating Expenses? | $7.14M | $5.48M | $3.92M | $3.63M | $3.63M | $1.35M | $1.89M | $3.15M | $2.43M | $6.61M |
| Operating Income? | $125.00M | $102.72M | $91.70M | $53.60M | $21.52M | $56.53M | $62.56M | $53.10M | $54.33M | $51.53M |
| EBITDA? | $129.52M | $110.18M | $111.41M | $78.21M | $47.12M | $38.06M | $87.18M | $79.45M | $80.21M | $77.58M |
| Income Before Tax | $69.04M | $46.48M | $56.91M | $35.71M | $9.45M | $427,000 | $46.43M | $45.25M | $45.09M | $41.67M |
| Income Tax Expense | $15.55M | $9.98M | $13.76M | $9.05M | $1.49M | $5.60M | $9.40M | $10.17M | $5.99M | $14.88M |
| Net Income? | $53.49M | $30.52M | $39.13M | $28.06M | $7.97M | -$5.17M | $37.02M | $35.08M | $39.10M | $26.79M |
| EPS? | $2.52 | $1.71 | $2.77 | $2.20 | $0.63 | $-0.47 | $3.38 | $3.23 | $3.61 | $2.48 |
| Diluted EPS? | $2.52 | $1.70 | $2.76 | $2.19 | $0.63 | $-0.47 | $3.35 | $3.21 | $3.60 | $2.47 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality