VSE Corp VSEC
VSE Corporation, through its subsidiaries (collectively, "VSE" or the "Company") is a leading provider of aftermarket distribution and maintenance, repair and overhaul ("MRO") services for air transportation assets for commercial and government markets. 10-K, Item 1
- Employees
- 1,600
- Headquarters
- Miramar, FL
- CEO
- John A. Cuomo
- Next results
- around Jan 28, 2027
VSEC among Industrials peers
Six ratios from the latest 10-K. Each corner is the share of 251 peers the company is above, not a score.
What changed
41 new risk paragraphs. 10-K filed Feb 27, 2026 against Mar 3, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
9 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 9 checks found nothing to note
-
Receivables +20.6% ($158.1M to $190.7M) vs revenue +41.5% ($786.3M to $1.1B), -20.8 pts apart
-
Cash from operations $27.0M vs net income $11.7M (FY ending Dec 31, 2025)
-
Same auditor in both 10-Ks: GRANT THORNTON LLP
6 more checks with nothing to note
-
No statement of substantial doubt about going concern
-
No 8-K item 4.02 in the last 2 years
-
No NT 10-K or NT 10-Q in the last 2 years
-
No sentence in the 10-K concludes that controls were not effective because of a material weakness
-
No 8-K item 2.06 in the last 2 years
-
No 8-K item 1.03 in the last 2 years
In their words
41 paragraphs in Risk Factors that were not in the 10-K filed Mar 3, 2025. Quoted as filed.
-
Item 1A · new paragraph · not in the 10-K filed Mar 3, 2025 10-K, ITEM 1A
Acquisitions, which are a part of the Company's business strategy, present certain risks.
-
Item 1A · new paragraph · not in the 10-K filed Mar 3, 2025 10-K, ITEM 1A
Revenues for work performed in, or products delivered to, foreign countries are subject to economic conditions in those countries and to political risks posed by ongoing conditions or foreign conflicts, including the continuing Russia-Ukraine and Middle East conflicts, potential terrorist activity, and evolving global trade tensions,…
-
Item 1A · new paragraph · not in the 10-K filed Mar 3, 2025 10-K, ITEM 1A
The Company has material customer concentration within its business operations with a single customer group accounting for a material portion of its revenues. The Company has material customer concentration within its business operations. A group of affiliated customers under common ownership (the “Customer Group”) collectively…
-
Item 1A · new paragraph · not in the 10-K filed Mar 3, 2025 10-K, ITEM 1A
The Company may periodically divest or seek to divest certain businesses that are no longer a part of the Company's ongoing strategic plan. A decision to divest or discontinue assets, businesses, or product lines may result in asset impairments, including
New risk paragraphs, against peers
Latest 10-K of each, Industrials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $669.4M | $544.0M | $786.3M | $1.1B |
| Net income | $28.1M | $39.1M | $15.3M | $11.7M |
| Operating cash flow | $8.1M | −$21.8M | −$31.0M | $27.0M |
| Free cash flow | −$3.2M | −$40.5M | −$51.7M | $5.7M |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$1.1B ▲ 41.5% in FY2025$11.7M ▼ 23.6% in FY2025$5.7M in FY2025
Recent filings
3 filings in the last 30 days · SEC EDGAR
-
10-QNov 5, 2026Quarterly report (10-Q) period ended Sep 30, 2026
-
8-KNov 4, 2026Quarterly results 8-K item 2.02
-
8-KNov 4, 2026Other events 8-K item 8.01
About the company
VSE Corp, Miramar, FL · from the 10-K filed Feb 27, 2026
VSE Corporation, through its subsidiaries (collectively, "VSE" or the "Company") is a leading provider of aftermarket distribution and maintenance, repair and overhaul ("MRO") services for air transportation assets for commercial and government markets. VSE was incorporated in Delaware in 1959. The Company is focused on enhancing the productivity and longevity of its customer's high-value, business-critical assets. The Company strives to achieve this through dedication to creating better solutions, anticipating global needs, and building stronger relationships with customers.
- Headquarters
- Miramar, FL
- Country
- United States
- Reports in
- USD
- Listed on
- Nasdaq
- Fiscal year ends
- December 31
- Last results
- Nov 4, 2026
- Incorporated in
- DE
Employees, at the top of the page: "As of December 31, 2025, the Company employed approximately 1,600 employees" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Feb 27, 2026 (open at SEC), compared with the 10-K filed Mar 3, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/VSEC/export.csv") into a cell.