# VSE Corporation (VSEC) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Aerospace & Defense. Price $203.91, market value $5.7 billion.

## Valuation
- **P/E (trailing): 64.9×** (5-yr avg 112.7×, 3-yr avg 149.4×). VSE Corporation trades at 64.9× trailing earnings, well below its own five-year average of 112.7×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 25.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 4.2×**. Each dollar of revenue is priced at 4.2×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 32.8×**. Enterprise value is 32.8× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -0.0%** (5-yr avg -2.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 1.5%**. The inverse of the P/E: 1.5% of the price is earned each year.

## Profitability
- **Operating margin: 9.2%**. 9.2% of revenue is left after running the business.
- **Net margin: 1.1%**. 1.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 0.8%**. 0.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.9%**. Return on all capital, debt included, is 5.9%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 3.7%**. Each dollar of assets produces 3.7% of profit.

## Growth
- **Revenue growth (1 yr): 41.5%** (3-yr 18.4%/yr, 5-yr 10.9%/yr). Revenue grew 41.5% over the last year, against 10.9% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -35.3%** (3-yr -36.9%/yr). Earnings per share fell 35.3%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.20**. Debt is 0.20 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.2×**. It would take 1.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 7.51**. A Z-score of 7.51 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.20%** ($0.40 per share, trailing). VSE Corporation yields 0.20%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 71%**. 71% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 2.1%/yr** (1-yr 0.0%). The dividend has grown 2.1% a year over five years.

## Price and momentum
- **Total return (1 yr): 24.0%** (YTD 18.2%, 3-mo 13.0%). The shares are up 24.0% over twelve months including dividends.
- **From 52-week high: -17.7%** (31.8% above the low). Trading 18% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 44**. An RSI of 44 is neutral.
- **Beta (1 yr): 2.25** (volatility 58%). Beta of 2.25 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=VSEC · Page: https://foliofundamentals.com/stocks/vsec

Not investment advice.