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VSE Corporation VSEC Services — Costs and operating expenses

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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 us-gaap:CostOfGoodsAndServicesSold.

The official record: VSE Corporation’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is VSE Corporation's services — costs and operating expenses?
VSE Corporation (VSEC) reported services — costs and operating expenses of $112.29M in Q1 2026.
How has VSE Corporation's services — costs and operating expenses changed year-over-year?
VSE Corporation's services — costs and operating expenses increased by 30.2% year-over-year, from $86.23M to $112.29M.
What is the long-term trend for VSE Corporation's services — costs and operating expenses?
Over 3 years (2022 to 2025), VSE Corporation's services — costs and operating expenses has grown at a 29.1% compound annual growth rate (CAGR), from $169.33M to $364.18M.
What does services — costs and operating expenses mean?
This metric captures the total direct and indirect costs incurred to deliver services, including labor, materials, logistics, and overhead associated with the segment's operations. It serves as a primary measure of operational efficiency and cost control within the service-based business model. Monitoring this figure helps assess the segment's ability to maintain profitability while scaling its maintenance and supply chain activities.