VSEC

VSE CORP

Ticker: VSECIndustrialsProfessional Services
HQ MIRAMAR, FLCIK 102752FY end 12-31Book / share $99.04Shares 30M
Revenue (FY)
$1.11B+2.98%
TTM $1.36B
Op. margin
8.06%+0.52%
TTM 9.15%
Net income
$11.70M-23.63%
TTM $75.06M
Operating cash
$26.99M+186.96%
TTM $27.02M
Free cash flow
$5.71M+111.03%
TTM $-1.12M
Return on equity
0.81%-0.74%
TTM 2.56%
Debt / equity
0.20-0.23%
TTM 0.32
Shares outstanding
21.2M+18.16%
TTM 29.6M

The business

VSE Corporation (Nasdaq: VSEC) is a diversified government services company that provides critical products and services to the United States Department of Defense, federal agencies, and commercial customers. The company operates through multiple business segments serving the aerospace, defense, and logistics sectors with a focus on mission-critical applications where reliability and performance are paramount.

The company's core business encompasses the design, manufacture, and distribution of specialized equipment and components for defense and aerospace applications, along with comprehensive logistics and supply chain management services. VSE maintains a strong presence as a trusted supplier to government agencies, leveraging decades of experience in supporting military operations and defense initiatives. The company serves customers across the continental United States and maintains operational facilities strategically positioned to support its government and commercial client base.

VSE Corporation has established itself as a provider of essential services that support national defense capabilities and government operations. The company's business model emphasizes long-term relationships with government customers, recurring revenue streams from logistics and supply chain services, and specialized manufacturing capabilities that create barriers to entry for competitors. By focusing on mission-critical applications where performance and reliability are non-negotiable, VSE has built a durable competitive position within the defense services industry.

The company maintains a disciplined approach to capital allocation and has structured its financing to support growth initiatives while maintaining financial flexibility. VSE's tangible equity units, which combine prepaid stock purchase contracts with senior amortizing notes, reflect the company's strategic approach to raising capital while providing investors with structured investment opportunities. The company's registered securities on the Nasdaq Global Select Market include common stock and the 5.750% tangible equity units, providing investors with multiple ways to participate in the company's growth trajectory.

VSE Corporation's website is located at www.vsecorp.com, where investors and stakeholders can access additional information about the company's operations, investor relations materials, and corporate governance documentation.

Sector
Industrials
Industry
Professional Services
HQ
MIRAMAR, FL
FY end
12-31
CIK
102752
SIC
8711
Financial performance · annual
20132025
$-141.47M$267.42M$676.32M$1.09B$1.49B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds VSE CORP — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

342
funds hold it
1 of 35
superinvestors hold it
$3.77B
fund-held value
62.2%
of shares held by funds
1
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.35%$386.23M
SMALLCAP World Fund Inc
SMCWX
0.38%$359.60M
State Street(R) SPDR(R) S&P(R) Aerospace & Defense ETF
XAR · SPDR SERIES TRUST
3.40%$219.70M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$203.59M
T. Rowe Price Small-Cap Stock Fund, Inc.
OTCFX · T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
1.82%$169.16M

Superinvestors in VSE CORP

Polen CapitalDECREASED -29.0%
Polen Capital Management
0.1%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 1 issues of VSE CORP's debt, $44.96M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 5.75%, maturing 20292029.

IssueCouponMaturesFundsFund-held
VSEC 5.75 02/01/295.750%2029-02-0115$44.96M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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