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VSE

Nasdaq:VSEC
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VSEC
Nasdaq
$179M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

VSE Corporation operates as a diversified products and services aftermarket company in the United States. The last earnings update was 29 days ago. More info.


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  • VSE has significant price volatility in the past 3 months.
VSEC Share Price and Events
7 Day Returns
0.9%
NasdaqGS:VSEC
-6.2%
US Commercial Services
-3.8%
US Market
1 Year Returns
-48%
NasdaqGS:VSEC
-21.5%
US Commercial Services
-15.9%
US Market
VSEC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VSE (VSEC) 0.9% -40.1% -55.6% -48% -59.6% -60%
US Commercial Services -6.2% -26.7% -29.3% -21.5% 2.5% 16.8%
US Market -3.8% -17.4% -24.1% -15.9% 2.8% 13.5%
1 Year Return vs Industry and Market
  • VSEC underperformed the Commercial Services industry which returned -21.5% over the past year.
  • VSEC underperformed the Market in United States of America which returned -15.9% over the past year.
Price Volatility
VSEC
Industry
5yr Volatility vs Market

VSEC Value

 Is VSE undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VSE to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VSE.

NasdaqGS:VSEC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:VSEC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.588 (1 + (1- 21%) (166.19%))
1.241
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.241 * 5.44%)
8.49%

Discounted Cash Flow Calculation for NasdaqGS:VSEC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for VSE is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:VSEC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.49%)
2020 11.66 Est @ -5.79% 10.75
2021 11.25 Est @ -3.53% 9.56
2022 11.03 Est @ -1.95% 8.64
2023 10.94 Est @ -0.84% 7.90
2024 10.93 Est @ -0.07% 7.27
2025 10.98 Est @ 0.47% 6.74
2026 11.08 Est @ 0.85% 6.26
2027 11.20 Est @ 1.12% 5.84
2028 11.35 Est @ 1.31% 5.45
2029 11.51 Est @ 1.44% 5.10
Present value of next 10 years cash flows $73.00
NasdaqGS:VSEC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $11.51 × (1 + 1.74%) ÷ (8.49% – 1.74%)
$173.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $173.55 ÷ (1 + 8.49%)10
$76.84
NasdaqGS:VSEC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $73.00 + $76.84
$149.84
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $149.84 / 10.99
$13.64
NasdaqGS:VSEC Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.64
Current discount Discount to share price of $16.33
= -1 x ($16.33 - $13.64) / $13.64
-19.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of VSE is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VSE's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VSE's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:VSEC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $3.38
NasdaqGS:VSEC Share Price ** NasdaqGS (2020-04-06) in USD $16.33
United States of America Commercial Services Industry PE Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 19.41x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VSE.

NasdaqGS:VSEC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VSEC Share Price ÷ EPS (both in USD)

= 16.33 ÷ 3.38

4.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VSE is good value based on earnings compared to the US Commercial Services industry average.
  • VSE is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does VSE's expected growth come at a high price?
Raw Data
NasdaqGS:VSEC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Commercial Services Industry PEG Ratio Median Figure of 35 Publicly-Listed Commercial Services Companies 1.04x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.88x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for VSE, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on VSE's assets?
Raw Data
NasdaqGS:VSEC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $33.10
NasdaqGS:VSEC Share Price * NasdaqGS (2020-04-06) in USD $16.33
United States of America Commercial Services Industry PB Ratio Median Figure of 86 Publicly-Listed Commercial Services Companies 1.1x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.2x
NasdaqGS:VSEC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VSEC Share Price ÷ Book Value per Share (both in USD)

= 16.33 ÷ 33.10

0.49x

* Primary Listing of VSE.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VSE is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess VSE's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. VSE has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VSEC Future Performance

 How is VSE expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as VSE has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13%
Expected Commercial Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VSE expected to grow at an attractive rate?
  • Unable to compare VSE's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare VSE's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare VSE's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:VSEC Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 13%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:VSEC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:VSEC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NasdaqGS:VSEC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 753 18 37
2019-09-30 738 33 36
2019-06-30 709 27 36
2019-03-31 690 8 35
2018-12-31 697 19 35
2018-09-30 711 14 43
2018-06-30 716 28 40
2018-03-31 740 63 39
2017-12-31 760 50 39
2017-09-30 780 58 29
2017-06-30 779 51 29
2017-03-31 745 32 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if VSE is high growth as no earnings estimate data is available.
  • Unable to determine if VSE is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:VSEC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from VSE Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VSEC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NasdaqGS:VSEC Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 3.38
2019-09-30 3.32
2019-06-30 3.28
2019-03-31 3.18
2018-12-31 3.23
2018-09-30 3.98
2018-06-30 3.67
2018-03-31 3.58
2017-12-31 3.61
2017-09-30 2.67
2017-06-30 2.72
2017-03-31 2.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if VSE will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether VSE is trading at VSE'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. VSE's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Commercial Services companies here
  3. VSE's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess VSE's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VSE has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VSEC Past Performance

  How has VSE performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VSE's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VSE's year on year earnings growth rate has been positive over the past 5 years.
  • VSE's 1-year earnings growth is less than its 5-year average (5.5% vs 13.7%)
  • VSE's earnings growth has exceeded the US Commercial Services industry average in the past year (5.5% vs 1.4%).
Earnings and Revenue History
VSE's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VSE Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VSEC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 752.63 37.02 3.78
2019-09-30 738.35 36.27 3.24
2019-06-30 708.96 35.78 3.56
2019-03-31 690.24 34.63 3.45
2018-12-31 697.22 35.08 3.71
2018-09-30 711.02 43.19 3.66
2018-06-30 716.25 39.80 3.06
2018-03-31 739.72 38.86 2.80
2017-12-31 760.11 39.10 2.43
2017-09-30 780.22 28.92 3.61
2017-06-30 778.84 29.37 4.01
2017-03-31 745.45 27.53 5.67
2016-12-31 691.79 26.79 6.61
2016-09-30 621.56 27.35 5.35
2016-06-30 586.17 26.74 4.16
2016-03-31 556.83 26.25 2.98
2015-12-31 533.98 24.92 2.76
2015-09-30 484.26 21.56 2.23
2015-06-30 448.62 18.98 3.94
2015-03-31 425.45 19.44 3.76
2014-12-31 424.07 20.49 4.14
2014-09-30 451.47 22.53 3.86
2014-06-30 460.79 23.97 3.27
2014-03-31 471.89 24.99 3.29
2013-12-31 471.64 23.99 3.29
2013-09-30 486.15 24.04 2.72
2013-06-30 509.32 26.20 3.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • VSE has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • VSE used its assets more efficiently than the US Commercial Services industry average last year based on Return on Assets.
  • VSE's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess VSE's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VSE has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VSEC Health

 How is VSE's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up VSE's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VSE is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • VSE's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of VSE's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VSE Company Filings, last reported 3 months ago.

NasdaqGS:VSEC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 363.10 270.01 2.21
2019-09-30 355.86 270.25 2.82
2019-06-30 346.34 280.78 2.46
2019-03-31 337.53 275.87 1.56
2018-12-31 328.40 160.60 0.36
2018-09-30 320.51 174.86 1.62
2018-06-30 311.32 181.33 1.31
2018-03-31 303.31 162.39 1.15
2017-12-31 293.10 172.57 0.92
2017-09-30 277.19 180.79 0.69
2017-06-30 270.53 199.44 0.90
2017-03-31 263.51 216.03 0.68
2016-12-31 255.19 214.64 0.50
2016-09-30 248.94 231.96 0.55
2016-06-30 241.52 233.11 0.68
2016-03-31 236.29 220.78 0.59
2015-12-31 229.31 232.64 0.74
2015-09-30 222.16 245.85 0.19
2015-06-30 216.13 242.36 0.44
2015-03-31 211.12 244.04 0.47
2014-12-31 205.49 48.40 0.26
2014-09-30 202.27 56.98 0.33
2014-06-30 198.37 67.07 0.30
2014-03-31 193.14 77.68 0.36
2013-12-31 186.80 89.65 0.22
2013-09-30 182.24 104.99 0.28
2013-06-30 176.80 118.98 0.27
  • VSE's level of debt (74.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.6% vs 74.4% today).
  • Debt is not well covered by operating cash flow (6.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.4x coverage).
X
Financial health checks
We assess VSE's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VSE has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VSEC Dividends

 What is VSE's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.2%
Current annual income from VSE dividends.
If you bought $2,000 of VSE shares you are expected to receive $44 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VSE's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.07%).
  • VSE's dividend is below the markets top 25% of dividend payers in United States of America (5.82%).
Upcoming dividend payment

Purchase VSE before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:VSEC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:VSEC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
NasdaqGS:VSEC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-28 0.360 1.852
2019-12-13 0.360 1.073
2019-07-31 0.360 1.044
2019-05-08 0.360 1.357
2019-03-01 0.320 1.001
2018-12-13 0.320 1.008
2018-10-31 0.320 1.078
2018-10-30 0.320 1.052
2018-05-01 0.320 0.787
2018-03-02 0.280 0.553
2017-12-14 0.280 0.569
2017-10-27 0.280 0.585
2017-05-03 0.280 0.579
2017-03-02 0.240 0.601
2016-12-16 0.240 0.615
2016-10-27 0.240 0.670
2016-05-04 0.240 0.715
2016-03-03 0.220 0.661
2015-12-11 0.220 0.752
2015-10-29 0.220 0.737
2015-05-07 0.220 0.913
2015-03-10 0.200 0.516
2015-03-06 0.200 0.499
2014-10-31 0.200 0.615
2014-05-07 0.200 0.667
2014-03-07 0.180 0.654
2013-12-12 0.180 0.775
2013-10-31 0.180 0.759
2013-05-07 0.180 0.861
2013-03-19 0.160 1.192
2013-03-06 0.160 1.362
2013-02-27 0.160 1.419
2012-12-12 1.400 11.788
2012-08-06 0.160 1.368
2012-05-02 0.160 1.367
2012-03-14 0.140 1.192
2011-12-21 0.140 1.129
2011-08-02 0.140 1.119
2011-05-05 0.140 1.127
2011-04-13 0.120 0.820
2011-03-02 0.120 0.823
2011-02-24 0.120 0.864
2010-10-29 0.120 0.748
2010-10-28 0.120 0.663
2010-06-09 0.120 0.728
2010-04-30 0.100 0.520
2010-04-29 0.100 0.490
2010-03-04 0.100 0.476
2009-10-30 0.100 0.433
2009-10-29 0.100 0.457
2009-06-08 0.100 0.623
2009-04-30 0.090 0.695
2009-04-29 0.090 0.604

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of VSE's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (9.7x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess VSE's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VSE afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VSE has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VSEC Management

 What is the CEO of VSE's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John Cuomo
TENURE AS CEO 1 years
CEO Bio

Mr. John A. Cuomo has been CEO, President and Director of VSE Corporation since April 15, 2019. Mr. Cuomo has been Vice President and General Manager of Aerospace Solutions Group at KLX Inc. since December 16, 2014 and Previously, Mr. Cuomo served as its Vice President and General Manager, Consumables Management business since July 2014. He has over 15 years of experience in the aerospace consumables distribution market and served in multiple roles and functions at B/E Aerospace Consumables Management from April 2000 to February 2014, with the most recent being Senior Vice President, Sales, Marketing and Business Development. Prior to joining B/E Aerospace, Mr. Cuomo served as an attorney at a large multi-national law firm practicing commercial law, mergers and acquisitions and litigation. He has a Bachelor of Science in International Business, a Juris Doctorate from the University of Miami and a Master of Business Administration from the University of Florida.

CEO Compensation
  • Insufficient data for John to compare compensation growth.
  • Insufficient data for John to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the VSE management team in years:

5.3
Average Tenure
60
Average Age
  • The average tenure for the VSE management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tom Loftus

TITLE
Executive VP & CFO
COMPENSATION
$921K
AGE
63
TENURE
18.1 yrs

Tom Kiernan

TITLE
VP, General Counsel & Secretary
COMPENSATION
$729K
AGE
51
TENURE
11.4 yrs

Chad Wheeler

TITLE
President & COO of Wheeler Bros Inc
COMPENSATION
$831K
AGE
44
TENURE
6.8 yrs

Paul Goffredi

TITLE
President & COO of VSE Aviation Inc.
COMPENSATION
$594K
AGE
61
TENURE
5.3 yrs

John Cuomo

TITLE
CEO, President & Director
TENURE
1 yrs

Matt Mullenix

TITLE
Chief Information Officer
TENURE
4.7 yrs

Christine Kaineg

TITLE
Director of Investor Relations & Assistant Corporate Secretary

Tina Bailey

TITLE
Vice President of Human Resources
AGE
60
TENURE
10.3 yrs

Krista Stafford

TITLE
Chief Human Resources Officer
TENURE
0.3 yrs

Rob Moore

TITLE
President of Federal & Defense Services
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the VSE board of directors in years:

7.3
Average Tenure
66
Average Age
  • The tenure for the VSE board of directors is about average.
Board of Directors

Ed Eberhart

TITLE
Non-Executive Chairman
COMPENSATION
$159K
AGE
72
TENURE
0.8 yrs

John Cuomo

TITLE
CEO, President & Director
TENURE
1 yrs

Calvin Koonce

TITLE
Director
COMPENSATION
$202K
AGE
82
TENURE
28.3 yrs

James Lafond

TITLE
Independent Director
COMPENSATION
$164K
AGE
77
TENURE
16.5 yrs

Jack Stultz

TITLE
Independent Director
COMPENSATION
$154K
AGE
66
TENURE
8.3 yrs

Bonnie Wachtel

TITLE
Independent Director
COMPENSATION
$149K
AGE
63
TENURE
29.3 yrs

Jack Potter

TITLE
Independent Director
COMPENSATION
$149K
AGE
63
TENURE
6.3 yrs

Mark Ferguson

TITLE
Independent Director
COMPENSATION
$149K
AGE
61
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by VSE individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
31. Mar 20 Buy Mark Ferguson Individual 27. Mar 20 27. Mar 20 1,239 $19.78 $24,507
19. Mar 20 Buy John Cuomo Individual 18. Mar 20 18. Mar 20 3,500 $14.70 $51,450
18. Mar 20 Buy Thomas Kiernan Individual 17. Mar 20 17. Mar 20 1,100 $19.50 $21,450
13. Mar 20 Buy Thomas Loftus Individual 12. Mar 20 12. Mar 20 2,400 $20.93 $50,232
11. Mar 20 Buy John Cuomo Individual 10. Mar 20 10. Mar 20 3,500 $24.90 $87,150
05. Aug 19 Buy Calvin Koonce Individual 02. Aug 19 02. Aug 19 2,400 $29.27 $70,248
26. Jun 19 Buy Calvin Koonce Individual 25. Jun 19 25. Jun 19 3,300 $26.37 $87,021
21. May 19 Buy Thomas Kiernan Individual 20. May 19 20. May 19 400 $27.00 $10,800
14. May 19 Buy John Cuomo Individual 13. May 19 13. May 19 3,600 $27.45 $98,820
14. May 19 Buy Thomas Loftus Individual 10. May 19 10. May 19 2,500 $27.60 $69,000
X
Management checks
We assess VSE's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VSE has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VSEC News

Simply Wall St News

Here's What VSE Corporation's (NASDAQ:VSEC) P/E Ratio Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for VSE: P/E of 9.71 = $31.84 ÷ $3.28 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … Earnings growth means that in the future the 'E' will be higher.

Simply Wall St -

Interested In VSE Corporation (NASDAQ:VSEC)? Here's How It Performed Recently

In this commentary, I will examine VSE Corporation's (NASDAQ:VSEC) latest earnings update (30 June 2019) and compare these figures against its performance over the past couple of years, as well as how the rest of the commercial services industry performed. … VSEC's trailing twelve-month earnings (from 30 June 2019) of US$36m has declined by -10% compared to the previous year. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 14%, indicating the rate at which VSEC is growing has slowed down.

Simply Wall St -

These 4 Measures Indicate That VSE (NASDAQ:VSEC) Is Using Debt Extensively

Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. … This free cash flow puts the company in a good position to pay down debt, when appropriate. … Our View Both VSE's level of total liabilities and its net debt to EBITDA were discouraging.

Simply Wall St -

What Kind Of Shareholder Appears On The VSE Corporation's (NASDAQ:VSEC) Shareholder Register?

Check out our latest analysis for VSE NasdaqGS:VSEC Ownership Summary, July 24th 2019 What Does The Institutional Ownership Tell Us About VSE? … It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. … NasdaqGS:VSEC Income Statement, July 24th 2019 Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions.

Simply Wall St -

VSE Corporation (NASDAQ:VSEC) Passed Our Checks, And It's About To Pay A 0.3% Dividend

Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. … Earnings per share growth has been growing somewhat, and VSE is paying out less than half its earnings and cash flow as dividends. … We would prefer to see earnings growing faster, but the best dividend stocks over the long term typically combine significant earnings per share growth with a low payout ratio, and VSE is halfway there.

Simply Wall St -

Are Insiders Buying VSE Corporation (NASDAQ:VSEC) Stock?

As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. … Insiders at VSE Have Bought Stock Recently It's good to see that VSE insiders have made notable investments in the company's shares. … Insider Ownership For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

How Much Are VSE Corporation (NASDAQ:VSEC) Insiders Spending On Buying Shares?

Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. … NasdaqGS:VSEC Recent Insider Trading, June 26th 2019 There are plenty of other companies that have insiders buying up shares. … Insiders likely see value in VSE shares, given these transactions (along with notable insider ownership of the company).

Simply Wall St -

Why You Should Care About VSE Corporation’s (NASDAQ:VSEC) Low Return On Capital

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for VSE: 0.078 = US$54m ÷ (US$804m - US$120m) (Based on the trailing twelve months to March 2019.) So, VSE has an ROCE of 7.8%. … Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual.

Simply Wall St -

Those Who Purchased VSE (NASDAQ:VSEC) Shares A Year Ago Have A 44% Loss To Show For It

We've already covered VSE's share price action, but we should also mention its total shareholder return (TSR). … Dividends have been really beneficial for VSE shareholders, and that cash payout explains why its total shareholder loss of 44%, over the last year, isn't as bad as the share price return. … Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround.

Simply Wall St -

VSE Corporation (NASDAQ:VSEC): What Does Its Beta Value Mean For Your Portfolio?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

VSEC Company Info

Description

VSE Corporation operates as a diversified products and services aftermarket company in the United States. The company operates in three segments: Supply Chain Management Group, Aviation Group, and Federal Services Group. The Supply Chain Management Group segment offers sourcing, acquisition, scheduling, transportation, shipping, logistics, data management, and other services to assist its clients with supply chain management. It sells vehicle parts and mission critical supply chain services to support the United States Postal Service (USPS) vehicle fleet and commercial truck fleets; and fleet management and sustainment solutions, and managed inventory services to the Department of Defense (DoD). The Aviation Group segment provides maintenance, repair, and overhaul (MRO) services; and parts supply and distribution for commercial and general aviation jet aircraft engines and engine accessories. It serves commercial airlines, regional airlines, cargo transporters, MRO integrators and providers, aviation manufacturers, corporate and private aircraft owners, and agricultural clients. The Federal Services Group segment offers foreign military sales services and refurbishment services to extend and enhance the life of existing vehicles and equipment; fleet-wide ship and aircraft support; aircraft sustainment and maintenance; and other technical, management, engineering, logistics, maintenance, configuration management, prototyping, technology, and field support services to the U.S. Navy and Marine Corps, U.S. Army and Army Reserve, U.S. Air Force, and other customers. This segment also provides energy consulting services, and IT solutions and services for various DoD and federal civilian agencies. VSE Corporation was founded in 1959 and is headquartered in Alexandria, Virginia.

Details
Name: VSE Corporation
VSEC
Exchange: NasdaqGS
Founded: 1959
$179,405,021
10,986,223
Website: http://www.vsecorp.com
Address: VSE Corporation
6348 Walker Lane,
Alexandria,
Virginia, 22310,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VSEC Common Stock Nasdaq Global Select US USD 07. Jan 1980
Number of employees
Current staff
Staff numbers
2,776
VSE employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 02:31
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2018/03/02
Last earnings filing: 2020/03/09
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.