Vse Corp

Consumer Discretionary
Military/Government/Technical
www.vsecorp.com

Earnings Score
Moat Score
Safety Score

Market Cap $219.95M
PE 16
Debt $483.00M
Cash $7.91M
EV $695.04M
FCF -$83.78M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$13.87M
EBIT	$79.32M
ROE	2%
ROA	5%
FCF	-$83.78M
Equity	$787.80M
Growth Stability	-14%
PE	15.86
PEG	0.78
PB	0.28
P/FCF	-2.63
P/S	0.22
Price/Cash	0.04
Debt/Equity	0.61
Debt/FCF	-5.77
Net Margins	0%
Op. Margins	8%
Earnings CAGR	-5%
Sales Growth YoY	18%
Sales Growth QoQ	3%
Sales CAGR	5%
FCF CAGR	-1%
Equity CAGR	12%
Earnings Stability	0.05
Earnings Growth YoY	22%
Earnings Growth QoQ	-520%

Earnings CAGR 5Y	20%
Sales CAGR 5Y	8%
FCF CAGR 5Y	-0%
Equity CAGR 5Y	17%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
Equity CAGR 3Y	28%
Market Cap	$219.95M
Revenue	$1.02B
Dividend Yield	3%
Payout Ratio	48%
Assets	$1.46B
Total Debt	$483.00M
Cash	$7.91M
Shares Outstanding	1.85M
EV	695.04M
Earnings Score	6%
Moat Score	42%
Safety Score	37%
Final Score	28%
Working Capital	565.19M
Current Ratio	3.69
Shares Growth 3y	10%
Equity Growth QoQ	1%
Equity Growth YoY	29%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

VSE Corp is a United States-based company operates as a diversified service and supply activity. The company's segment includes Aviation; Fleet and Federal and Defense. It generates maximum revenue from the Federal and Defense segment. The Federal and Defense segment provides aftermarket MRO and logistics and sustainment services to improve operational readiness and extend the life cycle of military vehicles, ships and aircraft for the DoD, federal agencies, and international defense customers.

SEC Filings

Direct access to Vse Corp (VSEC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vse Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Vse Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -5%

Stability 5%

loading chart...

Vse Corp Discounted Cash Flow

Fully customizable DCF calculator online for Vse Corp.

Years

Calculation mode

= -$757M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$84M	-$83M	-$81M	-$80M	-$79M	-$78M	-$77M	-$75M	-$74M	-$73M	-$72M	-$720M
DCF		-$75M	-$67M	-$60M	-$54M	-$48M	-$43M	-$39M	-$35M	-$31M	-$28M	-$278M
Value	-$757M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	5%	4%	5%	5%	5%	-1%	1%	3%	5%	0%
ROA	-	8%	8%	9%	8%	7%	2%	2%	6%	7%	5%
ROE	-	11%	10%	13%	11%	10%	-1%	2%	6%	6%	2%

Bad Net Margins (0.29%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	9.35	5.84	3.87	10.94	34.63	8.74	-10.7	-94.47	-11.25	-5.77
Debt over Equity	0.36	1.1	0.93	0.62	0.52	0.8	0.77	0.72	0.66	0.74	0.61
Growth Stability	-	-	-	100%	100%	100%	-14%	36%	100%	100%	-14%

Good Debt/FCF ratio (-5.77)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.61)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-14%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	26%	30%	10%	-8%	8%	-12%	13%	26%	-9%	8%
Earnings YoY growth	-	29%	8%	46%	-10%	6%	-114%	-254%	252%	39%	20%
Equity YoY growth	-	12%	11%	15%	12%	11%	-2%	17%	8%	37%	17%
FCF YoY growth	-	-42%	50%	15%	-66%	-47%	275%	-190%	-89%	1K%	-0%