VSE Corporation (VSEC) Financial Statements (2024 and earlier)

Company Profile

Business Address 6348 WALKER LANE
ALEXANDRIA, VA 22310
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 8711 - Engineering Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments478518378734162624
Cash and cash equivalents478518378734162624
Receivables141,500108,46977,829116,909101,25998,337
Disposal group, including discontinued operation      
Other current assets26,19332,30423,32819,07113,40716,988
Other undisclosed current assets380,707322,702253,422218,627166,392132,591
Total current assets:548,878463,993354,957355,341281,220248,540
Noncurrent Assets
Operating lease, right-of-use asset34,41227,32720,51520,943
Property, plant and equipment47,96942,48636,36343,46549,60655,146
Intangible assets, net (including goodwill)339,461357,016341,721408,625293,514309,531
Goodwill248,837248,753238,126276,450198,622198,622
Intangible assets, net (excluding goodwill)90,624108,263103,595132,17594,892110,909
Other noncurrent assets29,06927,73626,52517,49014,48815,796
Total noncurrent assets:450,911454,565425,124490,523357,608380,473
TOTAL ASSETS:999,789918,558780,081845,864638,828629,013
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities177,650126,94880,77169,08658,279107,017
Interest and dividends payable1,273995987871759
Accounts payable159,600115,06472,68268,09957,40866,015
Accrued liabilities18,05010,6117,094  40,243
Deferred revenue 6,4027,1479,858 
Debt10,00014,16220,37920,5939,4666,960
Disposal group, including discontinued operation      
Other undisclosed current liabilities30,55231,70728,22074,50437,133 
Total current liabilities:224,604179,964139,228164,183104,878113,977
Noncurrent Liabilities
Long-term debt and lease obligation276,300297,575253,529277,569151,133165,614
Long-term debt, excluding current maturities276,300270,407230,714253,128151,133165,614
Liabilities, other than long-term debt49,35923,68631,00736,01117,02716,323
Deferred compensation liability, classified7,39814,32816,02718,14617,02716,323
Deferred income tax liabilities9,6219,10814,89717,865
Other liabilities 25083   
Operating lease, liability32,34027,16822,81524,441
Other undisclosed noncurrent liabilities    5,00037,39540,004
Total noncurrent liabilities:325,659321,261284,536318,580205,555221,941
Total liabilities:550,263501,225423,764482,763310,433335,918
Equity
Equity, attributable to parent449,526417,333356,317363,101328,395293,095
Common stock641636553549544542
Additional paid in capital92,62088,51531,87029,41126,63224,470
Accumulated other comprehensive income (loss)4,968(176)(1,203)(1,105)146181
Retained earnings351,297328,358325,097334,246301,073267,902
Total equity:449,526417,333356,317363,101328,395293,095
TOTAL LIABILITIES AND EQUITY:999,789918,558780,081845,864638,828629,013

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues949,762750,853661,659752,627697,218760,113
Revenue, net760,113
Cost of revenue
(Cost of Goods and Services Sold)
      (705,788)
Gross profit:949,762750,853661,659752,627697,21854,325
Operating expenses(894,631)(729,333)(615,110)(692,370)(644,688) 
Other undisclosed operating income (loss)   (32,626) 1,700 
Operating income:55,13121,52013,92360,25754,23054,325
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:55,13121,52013,92360,25754,23054,325
Other undisclosed loss from continuing operations before income taxes(17,885)(12,069)(13,496)(13,830)(8,982)(9,240)
Income from continuing operations before income taxes:37,2469,45142746,42745,24845,085
Income tax expense(9,187)(1,485)(5,598)(9,403)(10,168)(5,989)
Income (loss) from continuing operations:28,0597,966(5,171)37,02435,08039,096
Income (loss) before gain (loss) on sale of properties:7,966(5,171)37,02435,08039,096
Loss from discontinued operations      
Net income (loss) available to common stockholders, diluted:28,0597,966(5,171)37,02435,08039,096

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):28,0597,966(5,171)37,02435,08039,096
Other comprehensive income (loss)5,1441,027(98)(1,251)(35)136
Comprehensive income (loss), net of tax, attributable to parent:33,2038,993(5,269)35,77335,04539,232

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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