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VSE Corporation VSEC Contract Liabilities

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Other financials

Income statement

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Revenue$449.1M+65.0%
Operating income$49.0M+117%
Net income$28.5M+792%
EPS (diluted)$0.91+469%

Balance sheet

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Cash & equivalents$75.4M+346%
Total debt$1.0B+146%
Total equity$2.9B+199%
Total assets$4.4B+174%

Cash flow

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Operating cash flow-$62.3M-33.5%
CapEx$8.9M+58.7%
Free cash flow-$68.7M-38.8%

Valuation

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Market cap$6.33B+95.9%
Enterprise value$7.28B+100%
P/E84.3×-86.3×
P/S4.7×+1.3×

Profitability

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Gross margin60.6%
Operating margin9.2%0.0pp
Net margin5.5%+3.6pp
FCF margin-9.9%

Returns & leverage

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Return on equity3.8%+1.7pp
Debt / equity0.3×-0.1×
Current ratio3.8×0.0×

Where this comes from

Reported directly by VSE Corporation in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: VSE Corporation’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:34 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000102752-26-000064
Line itemFinancial Statement ClassificationJune 30, 2026December 31, 2025
Billed and billable receivablesReceivables, net$274,628$190,732
Contract assets - unbilled receivablesContract assets$59,488$41,468
Contract liabilitiesAccrued expenses and other current liabilities$10,461$6,891

Item 1. Financial Statements

FAQ

What is VSE Corporation's contract liabilities?
VSE Corporation (VSEC) reported contract liabilities of $10.46M in Q2 2026.
How has VSE Corporation's contract liabilities changed year-over-year?
VSE Corporation's contract liabilities increased by 270.3% year-over-year, from $2.83M to $10.46M.
What is the long-term trend for VSE Corporation's contract liabilities?
Over 3 years (2022 to 2025), VSE Corporation's contract liabilities has grown at a 92.7% compound annual growth rate (CAGR), from $963K to $6.89M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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