VSE Corporation (VSEC) — Tangible Net Worth Ratio
VSE Corporation (VSEC) has a Tangible Net Worth Ratio of 79.5% as of September 2025. This metric is calculated by deducting intangible assets ($201.85 Million) from net assets ($983.34 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See VSE Corporation book value and equity for net asset value and shareholders' equity analysis.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
VSE Corporation Tangible Net Worth Ratio (1985–2024)
This chart shows how VSE Corporation's Tangible Net Worth Ratio has changed across 40 annual periods from 1985 to 2024. As of September 2025, the ratio stands at 79.5%, reflecting net assets of $983.34 Million with intangible assets of $201.85 Million USD. Also explore VSEC year-over-year net asset growth to track the company's year-over-year net asset growth rate.
Annual Tangible Net Worth Ratio for VSE Corporation (1985–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for VSE Corporation from 1985 to 2024, covering 40 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see VSE Corporation (VSEC) market capitalisation.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 80.0% | $988.19 Million | $197.28 Million | $1.73 Billion | ▼ -1.5 pp |
| 2023 | 81.5% | $616.73 Million | $114.13 Million | $1.35 Billion | ▲ +1.7 pp |
| 2022 | 79.8% | $449.53 Million | $90.62 Million | $999.79 Million | ▲ +5.8 pp |
| 2021 | 74.1% | $417.33 Million | $108.26 Million | $918.56 Million | ▲ +3.1 pp |
| 2020 | 70.9% | $356.32 Million | $103.59 Million | $780.08 Million | ▲ +7.3 pp |
| 2019 | 63.6% | $363.10 Million | $132.18 Million | $845.86 Million | ▼ -7.5 pp |
| 2018 | 71.1% | $328.39 Million | $94.89 Million | $638.83 Million | ▲ +8.9 pp |
| 2017 | 62.2% | $293.10 Million | $110.91 Million | $629.01 Million | ▲ +11.9 pp |
| 2016 | 50.3% | $255.19 Million | $126.93 Million | $661.84 Million | ▲ +11.4 pp |
| 2015 | 38.9% | $234.09 Million | $143.04 Million | $622.13 Million | ▼ -26.0 pp |
| 2014 | 64.9% | $205.49 Million | $72.21 Million | $355.33 Million | ▲ +8.9 pp |
| 2013 | 56.0% | $186.80 Million | $82.26 Million | $380.53 Million | ▲ +12.2 pp |
| 2012 | 43.8% | $164.34 Million | $92.42 Million | $410.21 Million | ▲ +18.0 pp |
| 2011 | 25.8% | $143.60 Million | $106.54 Million | $454.51 Million | ▼ -54.0 pp |
| 2010 | 79.8% | $123.78 Million | $25.00 Million | $288.43 Million | ▼ -11.0 pp |
| 2009 | 90.8% | $101.31 Million | $9.34 Million | $253.99 Million | ▲ +5.5 pp |
| 2008 | 85.3% | $76.12 Million | $11.18 Million | $275.97 Million | ▼ -0.4 pp |
| 2007 | 85.7% | $56.38 Million | $8.03 Million | $171.77 Million | ▼ -11.5 pp |
| 2006 | 97.2% | $38.24 Million | $1.05 Million | $98.53 Million | ▲ +0.7 pp |
| 2005 | 96.5% | $30.15 Million | $1.05 Million | $73.87 Million | ▲ +1.1 pp |
| 2004 | 95.4% | $23.04 Million | $1.05 Million | $60.35 Million | ▲ +1.0 pp |
| 2003 | 94.5% | $19.06 Million | $1.05 Million | $40.78 Million | ▲ +0.7 pp |
| 2002 | 93.8% | $17.04 Million | $1.05 Million | $31.68 Million | ▲ +4.9 pp |
| 2001 | 88.9% | $16.48 Million | $1.82 Million | $33.21 Million | ▲ +2.5 pp |
| 2000 | 86.5% | $15.79 Million | $2.13 Million | $31.52 Million | ▼ -4.9 pp |
| 1999 | 91.4% | $15.10 Million | $1.30 Million | $31.30 Million | ▲ +11.5 pp |
| 1998 | 79.9% | $13.90 Million | $2.80 Million | $40.70 Million | ▲ +4.7 pp |
| 1997 | 75.2% | $12.50 Million | $3.10 Million | $38.00 Million | ▼ -1.5 pp |
| 1996 | 76.7% | $14.60 Million | $3.40 Million | $48.30 Million | ▲ +5.4 pp |
| 1995 | 71.3% | $13.60 Million | $3.90 Million | $29.10 Million | ▼ -28.7 pp |
| 1994 | 100.0% | $12.10 Million | $0.00 | $21.30 Million | ▲ +0.0 pp |
| 1993 | 100.0% | $10.80 Million | $0.00 | $23.50 Million | ▲ +0.0 pp |
| 1992 | 100.0% | $9.60 Million | $0.00 | $20.80 Million | ▲ +0.0 pp |
| 1991 | 100.0% | $21.60 Million | $0.00 | $34.30 Million | ▲ +0.0 pp |
| 1990 | 100.0% | $26.80 Million | $0.00 | $59.60 Million | ▲ +0.0 pp |
| 1989 | 100.0% | $25.20 Million | $0.00 | $72.20 Million | ▲ +0.8 pp |
| 1988 | 99.2% | $25.90 Million | $200.00K | $71.90 Million | ▲ +0.0 pp |
| 1987 | 99.2% | $24.50 Million | $200.00K | $57.90 Million | ▲ +0.1 pp |
| 1986 | 99.1% | $22.90 Million | $200.00K | $56.70 Million | ▲ +0.1 pp |
| 1985 | 99.0% | $20.00 Million | $200.00K | $45.50 Million | — |