VSE CORP — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that VSE CORP filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2017 | Dec 31, 2017 | $760.11M | Mar 7, 2018 |
| FY2017 | Dec 31, 2016 | $691.79M | Mar 7, 2018 |
| FY2017 | Dec 31, 2015 | $533.98M | Mar 7, 2018 |
| FY2016 | Dec 31, 2014 | $424.07M | Mar 1, 2017 |
| FY2015 | Dec 31, 2013 | $471.64M | Mar 3, 2016 |
| FY2014 | Dec 31, 2012 | $546.76M | Mar 6, 2015 |
| FY2013 | Dec 31, 2011 | $580.76M | Mar 7, 2014 |
| FY2012 | Dec 31, 2010 | $810.96M | Mar 6, 2013 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.11B | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $786.26M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $544.02M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $669.45M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $481.38M | Mar 8, 2024 |
| FY2020 | Dec 31, 2020 | $150.02M | Mar 5, 2021 |
| FY2020 | Sep 30, 2020 | $165.51M | Mar 5, 2021 |
| FY2020 | Jun 30, 2020 | $168.72M | Mar 5, 2021 |
| FY2020 | Mar 31, 2020 | $177.42M | Mar 5, 2021 |
| FY2020 | Dec 31, 2019 | $195.27M | Mar 5, 2021 |
Revenue (Net Sales)
Net sales revenue — gross revenue less returns, allowances, and discounts. Used by many manufacturers and retailers as the primary top-line figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2017 | Dec 31, 2017 | $194.80M | Mar 7, 2018 |
| FY2017 | Sep 30, 2017 | $174.16M | Mar 7, 2018 |
| FY2017 | Jun 30, 2017 | $193.86M | Mar 7, 2018 |
| FY2017 | Mar 31, 2017 | $197.29M | Mar 7, 2018 |
| FY2017 | Dec 31, 2016 | $214.90M | Mar 7, 2018 |
| FY2017 | Sep 30, 2016 | $172.78M | Mar 7, 2018 |
| FY2017 | Jun 30, 2016 | $160.47M | Mar 7, 2018 |
| FY2017 | Mar 31, 2016 | $143.64M | Mar 7, 2018 |
| FY2016 | Dec 31, 2015 | $144.67M | Mar 1, 2017 |
| FY2016 | Sep 30, 2015 | $137.40M | Mar 1, 2017 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $11.70M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $15.32M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $39.13M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $28.06M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $7.97M | Mar 8, 2024 |
| FY2020 | Dec 31, 2020 | $6.01M | Mar 5, 2021 |
| FY2020 | Sep 30, 2020 | $8.11M | Mar 5, 2021 |
| FY2020 | Jun 30, 2020 | ($22.62M) | Mar 5, 2021 |
| FY2020 | Mar 31, 2020 | $3.33M | Mar 5, 2021 |
| FY2020 | Dec 31, 2019 | $10.00M | Mar 5, 2021 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $89.60M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $58.76M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $50.15M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $53.60M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | ($2.71M) | Mar 8, 2024 |
| FY2020 | Dec 31, 2020 | $11.91M | Mar 5, 2021 |
| FY2020 | Sep 30, 2020 | $14.19M | Mar 5, 2021 |
| FY2020 | Jun 30, 2020 | ($21.91M) | Mar 5, 2021 |
| FY2020 | Mar 31, 2020 | $9.73M | Mar 5, 2021 |
| FY2020 | Dec 31, 2019 | $14.81M | Mar 5, 2021 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $13.34M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $13.63M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $7.12M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $3.64M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $3.45M | Mar 8, 2024 |
| FY2022 | Dec 31, 2020 | $3.12M | Mar 10, 2023 |
| FY2021 | Dec 31, 2019 | $4.19M | Mar 11, 2022 |
| FY2020 | Dec 31, 2018 | $3.71M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $2.43M | Mar 9, 2020 |
| FY2018 | Dec 31, 2016 | $6.61M | Mar 7, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $26.99M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | ($31.04M) | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | ($21.83M) | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $8.05M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | ($17.60M) | Mar 8, 2024 |
| FY2022 | Dec 31, 2020 | $35.76M | Mar 10, 2023 |
| FY2021 | Dec 31, 2019 | $17.99M | Mar 11, 2022 |
| FY2020 | Dec 31, 2018 | $18.86M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $50.42M | Mar 9, 2020 |
| FY2018 | Dec 31, 2016 | $47.19M | Mar 7, 2019 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $21.28M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $20.70M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $18.67M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $11.21M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $10.52M | Mar 8, 2024 |
| FY2022 | Dec 31, 2020 | $4.43M | Mar 10, 2023 |
| FY2021 | Dec 31, 2019 | $9.63M | Mar 11, 2022 |
| FY2020 | Dec 31, 2018 | $3.12M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $3.74M | Mar 9, 2020 |
| FY2018 | Dec 31, 2016 | $6.55M | Mar 7, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.03B | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $1.74B | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $1.35B | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $999.79M | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | $918.56M | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | $780.08M | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | $845.86M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $638.83M | Mar 9, 2020 |
| FY2018 | Dec 31, 2017 | $629.01M | Mar 7, 2019 |
| FY2017 | Dec 31, 2016 | $661.84M | Mar 7, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $589.77M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $754.44M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $733.61M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $550.26M | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | $501.23M | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | $423.76M | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | $482.76M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $310.43M | Mar 9, 2020 |
| FY2018 | Dec 31, 2017 | $335.92M | Mar 7, 2019 |
| FY2017 | Dec 31, 2016 | $406.65M | Mar 7, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.44B | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $988.19M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $616.73M | Feb 27, 2026 |
| FY2025 | Dec 31, 2022 | $449.53M | Feb 27, 2026 |
| FY2024 | Dec 31, 2021 | $417.33M | Mar 3, 2025 |
| FY2023 | Dec 31, 2020 | $356.32M | Mar 8, 2024 |
| FY2022 | Dec 31, 2019 | $363.10M | Mar 10, 2023 |
| FY2021 | Dec 31, 2018 | $328.40M | Mar 11, 2022 |
| FY2020 | Dec 31, 2017 | $293.10M | Mar 5, 2021 |
| FY2019 | Dec 31, 2016 | $255.19M | Mar 9, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $641.24M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $428.26M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $288.59M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $217.26M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $217.26M | Mar 8, 2024 |
| FY2022 | Dec 31, 2020 | $238.13M | Mar 10, 2023 |
| FY2021 | Dec 31, 2019 | $276.45M | Mar 11, 2022 |
| FY2020 | Dec 31, 2018 | $198.62M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $198.62M | Mar 9, 2020 |
| FY2018 | Dec 31, 2016 | $198.62M | Mar 7, 2019 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $395.64M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $392.48M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $384.70M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $351.30M | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | $328.36M | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | $325.10M | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | $334.25M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $301.07M | Mar 9, 2020 |
| FY2018 | Jan 1, 2018 | $269.37M | Mar 7, 2019 |
| FY2018 | Dec 31, 2017 | $267.90M | Mar 7, 2019 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $69.36M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $29.51M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $7.77M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $305.0K | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | $518.0K | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | $378.0K | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | $734.0K | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $162.0K | Mar 9, 2020 |
| FY2018 | Dec 31, 2017 | $624.0K | Mar 7, 2019 |
| FY2018 | Dec 31, 2016 | $428.0K | Mar 7, 2019 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $292.80M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $430.17M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $429.34M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $286.30M | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | $284.57M | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | $251.09M | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | $270.01M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $160.60M | Mar 9, 2020 |
| FY2018 | Dec 31, 2017 | $172.57M | Mar 7, 2019 |
| FY2014 | Dec 31, 2014 | $48.60M | Mar 6, 2015 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | 2 | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | 2 | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | 0 | Mar 8, 2024 |
| FY2020 | Dec 31, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Sep 30, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Jun 30, 2020 | (2) | Mar 5, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Mar 5, 2021 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | 2 | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | 2 | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | 0 | Mar 8, 2024 |
| FY2020 | Dec 31, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Sep 30, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Jun 30, 2020 | (2) | Mar 5, 2021 |
| FY2020 | Mar 31, 2020 | 0 | Mar 5, 2021 |
| FY2020 | Dec 31, 2019 | 0 | Mar 5, 2021 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 23.40M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 20.59M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | 15.76M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | 12.82M | Mar 8, 2024 |
| FY2022 | Dec 31, 2021 | 12.73M | Mar 10, 2023 |
| FY2021 | Dec 31, 2020 | 11.06M | Mar 11, 2022 |
| FY2020 | Dec 31, 2019 | 10.97M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | 10.89M | Mar 9, 2020 |
| FY2018 | Dec 31, 2017 | 10.84M | Mar 7, 2019 |
| FY2017 | Dec 31, 2016 | 10.80M | Mar 7, 2018 |
Dividends Paid
Cash dividends distributed to common shareholders during the period. Shown as a positive value despite being a cash outflow in the SEC filing.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $8.26M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $7.06M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $5.44M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $5.11M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $4.43M | Mar 8, 2024 |
| FY2022 | Dec 31, 2020 | $3.97M | Mar 10, 2023 |
| FY2021 | Dec 31, 2019 | $3.73M | Mar 11, 2022 |
| FY2020 | Dec 31, 2018 | $3.26M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $2.82M | Mar 9, 2020 |
| FY2018 | Dec 31, 2016 | $2.48M | Mar 7, 2019 |