Vse Corp
VSEC- Exchange
- Nasdaq
- Industry
- Services-Engineering Services
- SEC CIK
- 0000102752
In the last 90 days, Vse Corp insiders filed 0 open-market purchases and 2 sales; 387 institutions reported holding it in 13F filings for Q2 2026, worth $7.64B in total; Soros Fund Management is the only superinvestor holding it.
Other share classesVSECU
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:30 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Feb 27, 2025 | Mar 1, 2024 | Mar 9, 2023 | Mar 10, 2022 |
| Revenue | $1.11B | $1.08B | $860.5M | $949.8M | $750.9M |
| Selling, general and administrative | $13.3M | $14.6M | $7.62M | $5.16M | $3.63M |
| Operating income | $89.6M | $81.4M | $88.0M | $55.1M | $21.5M |
| Income tax | $15.5M | $9.98M | $13.8M | $9.19M | $1.49M |
| Net income | $11.7M | $15.3M | $39.1M | $28.1M | $7.97M |
| EPS, basic | $0.55 | $0.86 | $2.77 | $2.20 | $0.63 |
| EPS, diluted | $0.55 | $0.85 | $2.76 | $2.19 | $0.63 |
| Weighted shares, basic | 21.1M | 17.9M | 14.1M | 12.8M | 12.6M |
| Weighted shares, diluted | 21.2M | 18.0M | 14.2M | 12.8M | 12.6M |
| Margins and growth | |||||
| Operating margin | 8.1% | 7.5% | 10.2% | 5.8% | 2.9% |
| Net margin | 1.1% | 1.4% | 4.5% | 3.0% | 1.1% |
| Revenue growth, year over year | +3.0% | +25.5% | −9.4% | +26.5% | +13.5% |
| Net income growth, year over year | −23.6% | −60.8% | +39.5% | +252.2% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Feb 27, 2025 | Mar 1, 2024 | Mar 9, 2023 | Mar 10, 2022 |
| Cash and equivalents | $69.4M | $29.0M | $7.77M | $478.0K | $518.0K |
| Accounts receivable | $190.7M | $197.6M | $128.0M | $103.2M | $76.6M |
| Total current assets | $893.3M | $874.8M | $774.0M | $548.9M | $464.0M |
| Property, plant and equipment | $91.1M | $85.6M | $58.1M | $48.0M | $42.5M |
| Goodwill | $641.2M | $491.5M | $351.8M | $248.8M | $248.8M |
| Intangible assets | $296.0M | $197.3M | $114.1M | $90.6M | $108.3M |
| Total assets | $2.03B | $1.73B | $1.35B | $999.8M | $918.6M |
| Accounts payable | $154.5M | $187.6M | $173.0M | $159.6M | $115.1M |
| Short-term debt | $7.50M | $30.0M | $22.5M | $10.0M | $14.2M |
| Total current liabilities | $237.5M | $281.8M | $286.9M | $224.6M | $180.0M |
| Long-term debt | $285.3M | $400.2M | $406.8M | $276.3M | $270.4M |
| Total liabilities | $589.8M | $746.4M | $733.6M | $550.3M | $501.2M |
| Shareholders' equity | $1.44B | $988.2M | $616.7M | $449.5M | $417.3M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Feb 27, 2025 | Mar 1, 2024 | Mar 9, 2023 | Mar 10, 2022 |
| Operating cash flow | $27.0M | -$31.0M | -$21.8M | $8.05M | -$17.6M |
| Capital expenditures | $21.3M | $20.7M | $18.7M | $11.2M | $10.5M |
| Free cash flow | $5.71M | -$51.7M | -$40.5M | -$3.16M | -$28.1M |
| Depreciation and amortization | $39.9M | $28.8M | $23.4M | $25.6M | $25.6M |
| Stock-based compensation | $12.8M | $8.31M | $7.74M | $4.46M | $3.93M |
| Dividends paid | $8.26M | $7.06M | $5.44M | $5.11M | $4.43M |
| Investing cash flow | -$276.5M | -$263.7M | -$235.7M | -$2.38M | -$61.6M |
| Financing cash flow | $289.8M | $315.8M | $265.0M | -$5.71M | $79.4M |
| Net change in cash | $40.3M | $21.1M | $7.45M | -$40.0K | $140.0K |
| Ratio | |||||
| Stock-based compensation, % of revenue | 1.2% | 0.8% | 0.9% | 0.5% | 0.5% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 30, 2026 | 28.1M | +35.7% | SEC |
| Jul 31, 2026 | 28.1M | +35.7% | SEC |
| May 5, 2026 | 28.1M | +35.7% | SEC |
| Feb 20, 2026 | 28.0M | +35.9% | SEC |
| Oct 24, 2025 | 20.7M | +1.3% | SEC |
| Jul 25, 2025 | 20.7M | +12.2% | SEC |
| May 2, 2025 | 20.7M | +29.3% | SEC |
| Feb 21, 2025 | 20.6M | +30.6% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.