VSE Corporation Tangible Equity Units
VSE Corporation engages in providing aviation aftermarket parts distribution and maintenance, repair, and overhaul services for air transportation assets for commercial and government markets. The company was incorporated in 1959 and is headquartered in Miramar, Florida.
VSE Corporation Tangible Equity Units (VSECU) - Net Assets
Latest net assets as of September 2025: $983.34 Million USD
Based on the latest financial reports, VSE Corporation Tangible Equity Units (VSECU) has net assets worth $983.34 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.56 Billion) and total liabilities ($577.11 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $983.34 Million |
| % of Total Assets | 63.02% |
| Annual Growth Rate | 33.28% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 21.49 |
VSE Corporation Tangible Equity Units - Net Assets Trend (2021–2024)
This chart illustrates how VSE Corporation Tangible Equity Units's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for VSE Corporation Tangible Equity Units (2021–2024)
The table below shows the annual net assets of VSE Corporation Tangible Equity Units from 2021 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $988.19 Million | +60.23% |
| 2023-12-31 | $616.73 Million | +37.19% |
| 2022-12-31 | $449.53 Million | +7.71% |
| 2021-12-31 | $417.33 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to VSE Corporation Tangible Equity Units's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 19.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $392.48 Million | 39.72% |
| Other Components | $595.70 Million | 60.28% |
| Total Equity | $988.19 Million | 100.00% |
VSE Corporation Tangible Equity Units Competitors by Market Cap
The table below lists competitors of VSE Corporation Tangible Equity Units ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
WALLENSTAM AB SER.B
F:WAE
|
$1.31 Billion |
|
Southchip Semiconductor Technology (Shanghai) Co. Ltd. A
SHG:688484
|
$1.31 Billion |
|
Burkhalter Holding AG
SW:BRKN
|
$1.31 Billion |
|
Bega Cheese Limited
PINK:BGCHY
|
$1.31 Billion |
|
ELECTROLUX B
F:ELXC
|
$1.31 Billion |
|
Glory View Technology Co. Ltd. A
SHE:301396
|
$1.31 Billion |
|
HOEGH AUTOLINERS NK 2120
F:V02
|
$1.31 Billion |
|
Timken India Limited
NSE:TIMKEN
|
$1.31 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VSE Corporation Tangible Equity Units's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 616,725,000 to 988,186,000, a change of 371,461,000 (60.2%).
- Net income of 15,324,000 contributed positively to equity growth.
- Dividend payments of 7,060,000 reduced retained earnings.
- New share issuances of 325,999,000 increased equity.
- Other factors increased equity by 37,198,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $15.32 Million | +1.55% |
| Dividends Paid | $7.06 Million | -0.71% |
| Share Issuances | $326.00 Million | +32.99% |
| Other Changes | $37.20 Million | +3.76% |
| Total Change | $- | 60.23% |
Book Value vs Market Value Analysis
This analysis compares VSE Corporation Tangible Equity Units's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.06x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1.55x to 1.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $32.79 | $50.75 | x |
| 2022-12-31 | $35.07 | $50.75 | x |
| 2023-12-31 | $39.14 | $50.75 | x |
| 2024-12-31 | $47.99 | $50.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VSE Corporation Tangible Equity Units utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.55%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.42%
- • Asset Turnover: 0.62x
- • Equity Multiplier: 1.76x
- Recent ROE (1.55%) is below the historical average (4.01%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 1.91% | 1.65% | 0.52x | 2.20x | $-33.77 Million |
| 2022 | 6.24% | 4.19% | 0.67x | 2.22x | $-16.89 Million |
| 2023 | 6.35% | 4.55% | 0.64x | 2.19x | $-22.54 Million |
| 2024 | 1.55% | 1.42% | 0.62x | 1.76x | $-83.49 Million |
Industry Comparison
This section compares VSE Corporation Tangible Equity Units's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $301,480,945
- Average return on equity (ROE) among peers: 29.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VSE Corporation Tangible Equity Units (VSECU) | $983.34 Million | 1.91% | 0.59x | $1.31 Billion |
| Alabama Aircraft Industries Inc (AAIIQ) | $3.00 Million | 70.00% | 22.83x | $0.97 |
| AAC Clyde Space AB (ACCMF) | $662.75 Million | -6.24% | 0.42x | $49.09 Million |
| Archer Aviation Inc (ACHR) | $698.90 Million | -49.76% | 0.10x | $3.44 Billion |
| American Defense Systems Inc (ADFS) | $9.01 Million | 34.56% | 0.45x | $4.85K |
| AAR Corp (AIR) | $866.00 Million | 7.82% | 1.54x | $4.16 Billion |
| Air Industries Group (AIRI) | $21.61 Million | 17.30% | 1.32x | $12.09 Million |
| AIRO Group Holdings, Inc. Common Stock (AIRO) | $548.73 Million | -7.05% | 0.28x | $168.72 Million |
| Philly Shipyard ASA (AKRRF) | $155.58 Million | 43.21% | 0.63x | $13.32 Million |
| ASI Aviation Inc (ASAV) | $6.88 | 150.58% | 2.47x | $2.48 Million |
| Astronics Corporation (ATRO) | $49.23 Million | 31.26% | 1.11x | $2.35 Billion |