(VSEC) VSE - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: NASDAQ (USA) | Market Cap: 4.875m USD | Total Return: 32.6% in 12m
Avg Turnover: 84.6M
EPS Trend: 63.8%
Qual. Beats: 4
Rev. Trend: 92.9%
Qual. Beats: 0
Warnings
Share dilution 34.2% YoY
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
VSE Corporation (VSEC) is a Florida-based provider of aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services. The company supports a global clientele across commercial, cargo, and government aviation sectors, servicing a range of assets from large commercial fleets to private aircraft.
The aviation MRO sector is characterized by high barriers to entry due to stringent regulatory certifications and the necessity for deep technical expertise. VSE operates within a capital-intensive business model where revenue is driven by long-term service contracts and the recurring demand for safety-critical replacement components.
For a detailed analysis of the companys valuation and growth metrics, ValueRay offers additional insights. VSEs strategic positioning allows it to benefit from the ongoing recovery in global flight hours and the aging lifecycle of existing aircraft fleets.
- Acquisition of aftermarket parts distributors accelerates commercial aviation segment revenue growth
- Expansion of MRO service capacity captures rising global narrowbody fleet maintenance demand
- Divestiture of federal and defense assets shifts focus to higher-margin commercial aviation
- Supply chain constraints on new aircraft parts increase demand for used serviceable material
- High interest rates impact financing costs for inventory-heavy aviation distribution operations
| Net Income: 62.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 0.43 > 1.0 |
| NWC/Revenue: 162.2% < 20% (prev 75.73%; Δ 86.43% < -1%) |
| CFO/TA 0.00 > 3% & CFO 11.4m > Net Income 62.8m |
| Net Debt (-836.9m) to EBITDA (141.3m): -5.92 < 3 |
| Current Ratio: 8.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.8m) vs 12m ago 34.21% < -2% |
| Gross Margin: 12.22% > 18% (prev 0.11%; Δ 1.21k% > 0.5%) |
| Asset Turnover: 46.82% > 50% (prev 54.91%; Δ -8.08% > 0%) |
| Interest Coverage Ratio: 8.72 > 6 (EBITDA TTM 141.3m / Interest Expense TTM 11.2m) |
| A: 0.58 (Total Current Assets 2.16b - Total Current Liabilities 246.2m) / Total Assets 3.31b |
| B: 0.13 (Retained Earnings 421.9m / Total Assets 3.31b) |
| C: 0.04 (EBIT TTM 97.8m / Avg Total Assets 2.52b) |
| D: 0.66 (Book Value of Equity 424.5m / Total Liabilities 644.4m) |
| Altman-Z'' = 5.16 = AAA |
| DSRI: 0.87 (Receivables 216.5m/200.4m, Revenue 1.18b/951.5m) |
| GMI: 0.86 (GM 12.22% / 10.54%) |
| AQI: 0.81 (AQ_t 0.30 / AQ_t-1 0.37) |
| SGI: 1.24 (Revenue 1.18b / 951.5m) |
| TATA: 0.02 (NI 62.8m - CFO 11.4m) / TA 3.31b) |
| Beneish M = -3.18 (Cap -4..+1) = AA |
As of May 26, 2026, the stock is trading at USD 171.88 with a total of 332,400 shares traded.
Over the past week, the price has changed by +1.28%,
over one month by -4.48%,
over three months by -21.67% and
over the past year by +32.56%.
VSE has received a consensus analysts rating of 4.86. Therefore, it is recommended to buy VSEC.
- StrongBuy: 6
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 252.9 | 47.1% |
P/E Trailing = 59.9172
P/E Forward = 40.1606
P/S = 4.1287
P/B = 1.794
P/EG = 3.004
Revenue TTM = 1.18b USD
EBIT TTM = 97.8m USD
EBITDA TTM = 141.3m USD
Long Term Debt = 331.1m USD (from longTermDebt, last quarter)
Short Term Debt = 29.9m USD (from shortTermDebt, last quarter)
Debt = 402.5m USD (corrected: LT Debt 331.1m + ST Debt 29.9m) + Leases 41.6m
Net Debt = -836.9m USD (calculated: Debt 402.5m - CCE 1.24b)
Enterprise Value = 4.04b USD (4.88b + Debt 402.5m - CCE 1.24b)
Interest Coverage Ratio = 8.72 (Ebit TTM 97.8m / Interest Expense TTM 11.2m)
EV/FCF = -299.0x (Enterprise Value 4.04b / FCF TTM -13.5m)
FCF Yield = -0.33% (FCF TTM -13.5m / Enterprise Value 4.04b)
FCF Margin = -1.14% (FCF TTM -13.5m / Revenue TTM 1.18b)
Net Margin = 5.32% (Net Income TTM 62.8m / Revenue TTM 1.18b)
Gross Margin = 12.22% ((Revenue TTM 1.18b - Cost of Revenue TTM 1.04b) / Revenue TTM)
Gross Margin QoQ = 12.00% (prev 13.36%)
Tobins Q-Ratio = 1.22 (Enterprise Value 4.04b / Total Assets 3.31b)
Interest Expense / Debt = 2.79% (Interest Expense 11.2m / Debt 402.5m)
Taxrate = 14.92% (5.09m / 34.1m)
NOPAT = 83.2m (EBIT 97.8m * (1 - 14.92%))
Current Ratio = 8.78 (Total Current Assets 2.16b / Total Current Liabilities 246.2m)
Debt / Equity = 0.15 (Debt 402.5m / totalStockholderEquity, last quarter 2.67b)
Debt / EBITDA = -5.92 (Net Debt -836.9m / EBITDA 141.3m)
Debt / FCF = 61.97 (negative FCF - burning cash) (Net Debt -836.9m / FCF TTM -13.5m)
Total Stockholder Equity = 1.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.49% (Net Income 62.8m / Total Assets 3.31b)
RoE = 4.14% (Net Income TTM 62.8m / Total Stockholder Equity 1.52b)
RoCE = 5.29% (EBIT 97.8m / Capital Employed (Equity 1.52b + L.T.Debt 331.1m))
RoIC = 2.69% (NOPAT 83.2m / Invested Capital 3.09b)
WACC = 10.31% (E(4.88b)/V(5.28b) * Re(10.97%) + D(402.5m)/V(5.28b) * Rd(2.79%) * (1-Tc(0.15)))
Discount Rate = 10.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 28.60%
[DCF] Fair Price = unknown (Cash Flow -13.5m)
EPS Correlation: 63.80 | EPS CAGR: 7.72% | SUE: 2.20 | # QB: 4
Revenue Correlation: 92.92 | Revenue CAGR: 17.61% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.92 | Chg30d=+2.62% | Revisions=-9% | Analysts=9
EPS next Quarter (2026-09-30): EPS=1.13 | Chg30d=-11.83% | Revisions=-14% | Analysts=9
EPS current Year (2026-12-31): EPS=4.39 | Chg30d=-4.31% | Revisions=-14% | GrowthEPS=+12.1% | GrowthRev=+59.4%
EPS next Year (2027-12-31): EPS=5.81 | Chg30d=-0.19% | Revisions=-14% | GrowthEPS=+32.2% | GrowthRev=+21.5%
[Analyst] Revisions Ratio: -14%