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VSE Corporation VSEC Operating Income

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Other financials

Income statement

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Revenue$449.1M+65.0%
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:OperatingIncomeLoss.

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
(in thousands, except share and per share amounts)Three months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Earn-out receivable fair value adjustments5,9005,900
Amortization of intangible assets18,4506,48727,50012,621
Total costs and operating expenses400,179249,626692,011481,167
Operating income48,95822,51381,70647,017
Interest expense, net5,2306,4453,82814,384
Loss on debt extinguishment4,4734,473
Income from continuing operations before income taxes39,25516,06873,40532,633
Provision for income taxes10,7322,43015,8275,027

Item 1. Financial Statements

FAQ

What is VSE Corporation's operating income?
VSE Corporation (VSEC) reported operating income of $48.96M in Q2 2026.
How has VSE Corporation's operating income changed year-over-year?
VSE Corporation's operating income increased by 117.5% year-over-year, from $22.51M to $48.96M.
What is the long-term trend for VSE Corporation's operating income?
Over 3 years (2021 to 2025), VSE Corporation's operating income has grown at a 221.1% compound annual growth rate (CAGR), from -$2.71M to $89.6M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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