VSE financials
$171.59−1.75%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $449.1M | $324.6M | $301.2M | $282.9M | $272.1M | $256.0M | $227.4M | $203.6M | $192.8M | $162.4M | $235.3M | $231.4M |
| Gross profit | $76.4M | $48.0M | $46.9M | $40.7M | $37.5M | $32.9M | $30.0M | $26.7M | $23.6M | $21.9M | $30.5M | $31.0M |
| Gross margin | 17.0% | 14.8% | 15.6% | 14.4% | 13.8% | 12.9% | 13.2% | 13.1% | 12.2% | 13.5% | 12.9% | 13.4% |
| Operating income | $49.0M | $32.7M | $32.5M | $10.1M | $28.4M | $24.5M | $20.4M | $20.1M | $2.6M | $15.6M | $25.3M | $25.3M |
| Net income | $28.5M | $29.1M | $13.6M | $3.9M | $3.2M | -$9.0M | $13.1M | $11.7M | -$2.8M | -$6.6M | $11.6M | $9.6M |
| Net margin | 6.4% | 9.0% | 4.5% | 1.4% | 1.2% | −3.5% | 5.7% | 5.7% | −1.4% | −4.1% | 4.9% | 4.1% |
| Diluted EPS | $0.91 | $1.04 | $0.60 | $0.19 | $0.16 | $-0.44 | $0.64 | $0.63 | $-0.16 | $-0.41 | $0.73 | $0.63 |
| EBITDA | $72.9M | $45.5M | $42.7M | $20.3M | $38.0M | $34.4M | $41.0M | $27.2M | $9.9M | $21.6M | $25.3M | $30.7M |
| Operating cash flow | $27.6M | -$62.3M | $37.6M | $24.1M | $11.9M | -$46.6M | $55.4M | $10.2M | -$17.5M | -$79.1M | $27.9M | $13.8M |
| Free cash flow | $18.7M | -$68.7M | $30.9M | $18.0M | $6.3M | -$49.5M | $52.1M | $4.4M | -$21.5M | -$86.8M | $20.1M | $9.1M |
| Diluted shares | 31.4M | 27.8M | 22.7M | 20.8M | 20.7M | 20.7M | 20.3M | 18.5M | 17.2M | 15.9M | 15.8M | 15.1M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $75.4M | $1.24B | $69.4M | $8.8M | $16.9M | $5.7M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $947.0M | $361.0M | $292.8M | $356.1M | $379.2M | $465.0M |
| Total assets | $4.40B | $3.31B | $2.03B | $1.56B | $1.60B | $1.73B |
| Total liabilities | $1.46B | $644.4M | $589.8M | $577.1M | $622.5M | $757.2M |
| Shareholders' equity | $2.93B | $2.67B | $1.44B | $983.3M | $979.5M | $975.7M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology