VSE Corporation (VSEC) — Working Capital to Net Assets Ratio
VSE Corporation (VSEC) has a Working Capital to Net Assets ratio of 54.8% as of September 2025. Working capital of $538.93 Million (current assets of $722.28 Million minus current liabilities of $183.35 Million) is measured against net assets of $983.34 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See VSE Corporation balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
VSE Corporation Working Capital to Net Assets (1985–2024)
This chart shows how VSE Corporation's Working Capital to Net Assets ratio has evolved across 40 annual periods from 1985 to 2024. As of September 2025, the ratio stands at 54.8%, reflecting working capital of $538.93 Million against net assets of $983.34 Million USD. Check VSEC goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for VSE Corporation (1985–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for VSE Corporation from 1985 to 2024, covering 40 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see VSEC market cap.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 60.0% | $592.98 Million | $988.19 Million | $874.83 Million | $281.84 Million | ▼ -19.0 pp |
| 2023 | 79.0% | $487.14 Million | $616.73 Million | $774.03 Million | $286.89 Million | ▲ +6.9 pp |
| 2022 | 72.1% | $324.27 Million | $449.53 Million | $548.88 Million | $224.60 Million | ▲ +4.1 pp |
| 2021 | 68.1% | $284.03 Million | $417.33 Million | $463.99 Million | $179.96 Million | ▲ +7.5 pp |
| 2020 | 60.5% | $215.73 Million | $356.32 Million | $354.96 Million | $139.23 Million | ▲ +7.9 pp |
| 2019 | 52.6% | $191.16 Million | $363.10 Million | $355.34 Million | $164.18 Million | ▼ -1.1 pp |
| 2018 | 53.7% | $176.34 Million | $328.39 Million | $281.22 Million | $104.88 Million | ▲ +7.8 pp |
| 2017 | 45.9% | $134.56 Million | $293.10 Million | $248.54 Million | $113.98 Million | ▲ +2.8 pp |
| 2016 | 43.1% | $110.02 Million | $255.19 Million | $258.46 Million | $148.44 Million | ▼ -1.5 pp |
| 2015 | 44.6% | $104.39 Million | $234.09 Million | $201.37 Million | $96.98 Million | ▲ +27.6 pp |
| 2014 | 17.0% | $34.87 Million | $205.49 Million | $122.37 Million | $87.50 Million | ▼ -8.6 pp |
| 2013 | 25.5% | $47.69 Million | $186.80 Million | $129.43 Million | $81.73 Million | ▼ -14.0 pp |
| 2012 | 39.5% | $64.98 Million | $164.34 Million | $145.97 Million | $81.00 Million | ▼ -10.0 pp |
| 2011 | 49.5% | $71.12 Million | $143.60 Million | $178.45 Million | $107.32 Million | ▲ +5.4 pp |
| 2010 | 44.1% | $54.57 Million | $123.78 Million | $173.86 Million | $119.29 Million | ▼ -1.2 pp |
| 2009 | 45.3% | $45.90 Million | $101.31 Million | $193.22 Million | $147.32 Million | ▲ +13.5 pp |
| 2008 | 31.8% | $24.18 Million | $76.12 Million | $220.60 Million | $196.42 Million | ▼ -12.1 pp |
| 2007 | 43.9% | $24.76 Million | $56.38 Million | $136.50 Million | $111.74 Million | ▼ -23.2 pp |
| 2006 | 67.1% | $25.65 Million | $38.24 Million | $83.60 Million | $57.96 Million | ▼ -6.0 pp |
| 2005 | 73.1% | $22.03 Million | $30.15 Million | $64.15 Million | $42.13 Million | ▲ +5.4 pp |
| 2004 | 67.6% | $15.58 Million | $23.04 Million | $51.58 Million | $36.00 Million | ▼ -2.7 pp |
| 2003 | 70.3% | $13.39 Million | $19.06 Million | $33.88 Million | $20.48 Million | ▲ +7.1 pp |
| 2002 | 63.1% | $10.76 Million | $17.04 Million | $24.29 Million | $13.53 Million | ▲ +9.7 pp |
| 2001 | 53.5% | $8.81 Million | $16.48 Million | $23.74 Million | $14.93 Million | ▲ +0.5 pp |
| 2000 | 53.0% | $8.36 Million | $15.79 Million | $22.25 Million | $13.88 Million | ▲ +5.9 pp |
| 1999 | 47.0% | $7.10 Million | $15.10 Million | $21.30 Million | $14.20 Million | ▼ -22.8 pp |
| 1998 | 69.8% | $9.70 Million | $13.90 Million | $29.30 Million | $19.60 Million | ▼ -9.4 pp |
| 1997 | 79.2% | $9.90 Million | $12.50 Million | $26.90 Million | $17.00 Million | ▼ -37.9 pp |
| 1996 | 117.1% | $17.10 Million | $14.60 Million | $36.50 Million | $19.40 Million | ▲ +43.6 pp |
| 1995 | 73.5% | $10.00 Million | $13.60 Million | $19.00 Million | $9.00 Million | ▲ +6.6 pp |
| 1994 | 66.9% | $8.10 Million | $12.10 Million | $16.40 Million | $8.30 Million | ▼ -20.1 pp |
| 1993 | 87.0% | $9.40 Million | $10.80 Million | $18.30 Million | $8.90 Million | ▲ +4.7 pp |
| 1992 | 82.3% | $7.90 Million | $9.60 Million | $15.80 Million | $7.90 Million | ▲ +19.8 pp |
| 1991 | 62.5% | $13.50 Million | $21.60 Million | $22.40 Million | $8.90 Million | ▲ +49.8 pp |
| 1990 | 12.7% | $3.40 Million | $26.80 Million | $28.00 Million | $24.60 Million | ▼ -1.6 pp |
| 1989 | 14.3% | $3.60 Million | $25.20 Million | $42.70 Million | $39.10 Million | ▼ -26.6 pp |
| 1988 | 40.9% | $10.60 Million | $25.90 Million | $46.50 Million | $35.90 Million | ▼ -35.0 pp |
| 1987 | 75.9% | $18.60 Million | $24.50 Million | $42.10 Million | $23.50 Million | ▼ -13.6 pp |
| 1986 | 89.5% | $20.50 Million | $22.90 Million | $43.30 Million | $22.80 Million | ▲ +26.0 pp |
| 1985 | 63.5% | $12.70 Million | $20.00 Million | $31.80 Million | $19.10 Million | — |