What does earn-out receivable fair value adjustments mean?

This represents the periodic change in the estimated fair value of contingent consideration assets related to past acquisitions. It reflects adjustments made to the expected payout of earn-outs based on the achievement of specific performance milestones or changes in market conditions. Investors monitor this to understand the volatility introduced by acquisition-related accounting estimates and the underlying performance of acquired business units.

VSE Corporation VSEC Earn-out receivable fair value adjustments

Earn-out receivable fair value adjustments at other companies

Blue Owl CapitalOWL

-$16.1M-595%

Comfort Systems USAFIX

$10.37M+176%

Global Business Travel GroupGBTG

$31M-58.1%

Blue Owl CapitalOWL

-$16.1M-595%

International Flavors & FragrancesIFF

$46M—

Global Business Travel GroupGBTG

$24M+271%

Other financials

Income statement

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Revenue$324.6M+26.8%

Operating income$32.7M+33.6%

Net income$29.1M+424%

EPS (diluted)$1.04+336%

Balance sheet

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Cash & equivalents$1.2B+11,695%

Total debt$402.5M-20.2%

Total equity$2.7B+173%

Total assets$3.3B+91.0%

Cash flow

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Operating cash flow-$62.3M-33.5%

CapEx$6.5M+125%

Free cash flow-$68.7M-38.8%

Valuation

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Market cap$6.15B+109%

Enterprise value$5.31B+45.8%

P/E123.7×-104×

P/S5.2×+1.9×

Profitability

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Gross margin60.6%—

Operating margin8.3%+0.6pp

Net margin4.2%+2.7pp

FCF margin-9.9%—

Returns & leverage

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Return on equity2.7%+1.1pp

Debt / equity0.2×-0.4×

Current ratio8.8×+4.9×

Where this comes from

Reported directly by VSE Corporation in its filing.

Tagged under the XBRL concept vsec:AdjustmentOnEarnOutReceivableFairValue.

The official record: VSE Corporation’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is VSE Corporation's earn-out receivable fair value adjustments?: VSE Corporation (VSEC) reported earn-out receivable fair value adjustments of $7.3M in Q4 2025.
What does earn-out receivable fair value adjustments mean?: This represents the periodic change in the estimated fair value of contingent consideration assets related to past acquisitions. It reflects adjustments made to the expected payout of earn-outs based on the achievement of specific performance milestones or changes in market conditions. Investors monitor this to understand the volatility introduced by acquisition-related accounting estimates and the underlying performance of acquired business units.