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 working capital to net assets of VSE Corporation to evaluate short-term liquidity relative to the company's equity base.
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. See VSE Corporation (VSEC) defensive interval to measure how many days the company can operate on defensive assets alone.
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 market cap and net worth.
| 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 | — |