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Companies / Industrials / VSE Corporation
VSEC

VSE Corporation

IndustrialsProfessional Services
Ticker VSECMIRAMAR, FLFiscal year ends DecemberBook value per share $99.04Diluted shares 29.6M

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… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.11BFY2025
+3.0% year over year
Last 12 mo $1.36B
8.06%FY2025
+0.5 percentage points
Last 12 mo 9.15%
$11.70MFY2025
−23.6% year over year
Last 12 mo $75.06M
0.81%FY2025
−0.7 percentage points
Last 12 mo 2.56%
Cash & financing
$26.99MFY2025
+187.0% year over year
Last 12 mo $27.02M
$5.71MFY2025
+111.0% year over year
Last 12 mo $-1.12M
0.20FY2025
Was 0.44× a year earlier
Last 12 mo 0.32
21.2MFY2025
+18.2% year over year
Last 12 mo 29.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What VSE Corporation does

In the company’s own words

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.

Company details
Sector
Industrials
Industry (SIC)
Professional Services
Headquarters
MIRAMAR, FL
Fiscal year end
December
CIK
102752
SIC
8711

Financial performance, year by year

Fiscal 2013–2025 · USD
$-141.47M$267.42M$676.32M$1.09B$1.49B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns VSE Corporation — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

342
funds hold it
1 of 35
superinvestors hold it
$3.77B
held by funds, at market
62.2%
of shares held by funds
1
bond issues held by funds

Superinvestors in VSE Corporation · what they did last quarter

Polen CapitalDECREASED -29.0%
Polen Capital Management
0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · VSE Corporation’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.35%of fund net assets
0.38%of fund net assets
3.40%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
T. Rowe Price Small-Cap Stock Fund, Inc.
OTCFX · T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
1.82%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

VSE Corporation’s bonds, as funds hold them

Funds report holding 1 issues of VSE Corporation’s debt, $44.96M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 5.75%, maturing 2029 to 2029.

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.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do VSE Corporation and its peers compare on margins and cash generation over ten years?”
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