Market cap
$6,106 Mln
Revenue (TTM)
$1,358 Mln
P/E Ratio
69.5
P/B Ratio
2.1
Div. Yield
0.2 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | 38.37 | 65.04 | 31.72 | 22.80 | 15.67 |
| EBIT | 35.84 | 93.30 | 25.59 | 20.34 | 39.01 |
| Net Profit | -1.83 | 73.41 | 117.23 | 32.44 | 61.27 |
| EPS | -12.94 | 14.57 | 57.18 | 2.94 | 32.41 |
| Book Value | -- | -- | 31.77 | 21.76 | 16.66 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Dec-25 | Dec-24 |
| EBIT-Margin
| 8.61 | 7.34 | 8.79 | 8.06 | 7.54 |
| Net Margin
| -- | -- | 5.52 | -- | -- |
| Return on equity
| 5.18 | 4.82 | 3.43 | 4.41 | 3.80 |
| Return on Capital
| 3.32 | 2.97 | -- | 3.29 | 2.39 |
| Return on Assets
| 2.72 | 2.40 | 2.29 | 2.84 | 1.98 |
| Debt to Equity (x)
| -- | -- | 0.31 | 0.24 | 0.49 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
3.29
|
2.39
|
4.27
|
3.76
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
ROE
3.43
Lower than Peers by 9.29
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
3.43
|
4.41
|
3.80
|
7.34
|
6.47
|
|
Peer Median
|
12.71
|
--
|
--
|
--
|
--
|
ROA
2.29
Lower than Peers by 1.65
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
2.29
|
2.84
|
1.98
|
3.33
|
2.93
|
|
Peer Median
|
3.94
|
--
|
--
|
--
|
--
|
EBIT Margin
8.79
Higher than Peers by 0.50
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
8.79
|
8.06
|
7.54
|
10.23
|
8.01
|
|
Peer Median
|
8.29
|
--
|
--
|
--
|
--
|
Net Margin
5.52
Lower than Peers by 0.32
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
5.52
|
4.81
|
2.83
|
4.55
|
4.19
|
|
Peer Median
|
5.84
|
--
|
--
|
--
|
--
|
Cash Profit Margin
--
--
(Net profit + Depreciation) / Gross Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Revenue Growth
31.72
Higher than Peers by 20.36
Year on year growth in net sales
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
31.72
|
0.03
|
0.26
|
0.29
|
-0.11
|
|
Peer Median
|
11.36
|
--
|
--
|
--
|
--
|
EBIT Growth
25.59
Higher than Peers by 12.08
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
25.59
|
10.04
|
-7.47
|
64.16
|
149.09
|
|
Peer Median
|
13.50
|
--
|
--
|
--
|
--
|
Net Profit Growth
117.23
Higher than Peers by 100.43
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
117.23
|
75.25
|
-22.00
|
39.47
|
252.23
|
|
Peer Median
|
16.81
|
--
|
--
|
--
|
--
|
EPS Growth
57.18
Higher than Peers by 34.36
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
57.18
|
0.59
|
-0.40
|
0.13
|
2.51
|
|
Peer Median
|
22.81
|
--
|
--
|
--
|
--
|
Book Value Growth
97.86
Higher than Peers by 83.76
Year on year growth in book value per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
97.86
|
--
|
--
|
--
|
--
|
|
Peer Median
|
14.10
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
0.31
Lower than Peers by 0.13
Total debt / Net worth
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
0.31
|
0.24
|
0.49
|
0.74
|
0.69
|
|
Peer Median
|
0.45
|
--
|
--
|
--
|
--
|
Short term debt to equity ratio
0.01
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
0.01
|
0.01
|
0.04
|
0.04
|
0.03
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
3.77
Higher than Peers by 1.32
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
3.77
|
3.76
|
3.10
|
2.70
|
2.44
|
|
Peer Median
|
2.45
|
--
|
--
|
--
|
--
|
Quick Ratio
1.30
Lower than Peers by 0.09
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
1.30
|
1.43
|
1.06
|
0.95
|
0.75
|
|
Peer Median
|
1.39
|
--
|
--
|
--
|
--
|
Interest Coverage
12.56
Higher than Peers by 7.20
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
12.56
|
4.36
|
2.33
|
2.83
|
3.00
|
|
Peer Median
|
5.36
|
--
|
--
|
--
|
--
|
Operating Efficiency
Debtors to sales
26.70
Higher than Peers by 4.57
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
26.70
|
20.88
|
21.06
|
15.81
|
14.64
|
|
Peer Median
|
22.13
|
--
|
--
|
--
|
--
|
Asset Turnover
0.41
Lower than Peers by 0.19
Sales / Average Total Assets
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
0.41
|
0.59
|
0.70
|
0.73
|
0.70
|
|
Peer Median
|
0.60
|
--
|
--
|
--
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
75.48
|
61.46
|
49.67
|
57.10
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
210.58
|
202.40
|
210.49
|
209.83
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
63.74
|
67.76
|
72.00
|
72.66
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
--
|
222.32
|
196.10
|
188.16
|
194.27
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
69.51
Higher than Peers by 22.11
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
69.51
|
73.48
|
64.15
|
26.09
|
21.44
|
|
Peer Median
|
47.40
|
--
|
--
|
--
|
--
|
Price / Book Value
2.08
Lower than Peers by 3.78
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
2.08
|
2.73
|
1.98
|
1.66
|
1.34
|
|
Peer Median
|
5.86
|
--
|
--
|
--
|
--
|
Dividend Yield
0.19
Higher than Peers by 0.12
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
0.19
|
--
|
--
|
--
|
--
|
|
Peer Median
|
0.07
|
--
|
--
|
--
|
--
|
EV/EBITDA
39.89
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
39.89
|
32.46
|
21.91
|
13.22
|
11.63
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Market Cap
6,106
Higher than Peers by 4,639
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
VSE (VSEC)
|
6,106
|
--
|
--
|
--
|
--
|
|
Peer Median
|
1,467
|
--
|
--
|
--
|
--
|