VSE (VSEC) FY2022 results: revenue $669 million, up 39.1% on the year
VSE Corp. (VSEC) reported revenue of $669 million for fiscal 2022, the year ended 31 December 2022, up 39.1% on the year before. Net income was $28 million, up 252.2%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 10 March 2023.
Revenue
$669 million
+39.1% on the year
FY2015FY2022
Operating margin
8.0%
-0.6% a year earlier
FY2015FY2022
Net income
$28 million
+252.2% on the year
FY2015FY2022
Diluted EPS
$2.19
+247.6% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
8.1
-17.6
35.8
Capital expenditure
11.2
10.5
4.4
+6.6%
Free cash flow
-3.2
-28.1
31.3
Free cash flow margin
-0.5%
-5.8%
4.7%
Cash from investing
-2.4
-61.6
20.2
Cash from financing
-5.7
79.4
-56.3
Depreciation and amortisation
24.6
24.6
24.1
+0.1%
Share-based compensation
4.5
3.9
2.9
+13.6%
Dividends paid
5.1
4.4
4.0
+15.5%
Dividend per share
$0.40
$0.37
$0.36
+8.1%
Diluted shares, weighted
13m
13m
11m
+1.5%
Shares outstanding at period end
13m
13m
11m
+0.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
450
417
356
+7.7%
Debt
286
285
251
+0.6%
Operating lease liabilities
19.2
27.2
22.8
-29.5%
Other liabilities
245
189
150
+29.2%
Total liabilities and equity
1,000
919
780
+8.8%
Fixed assets
40.5
42.5
36.4
-4.7%
Goodwill
217
217
238
0.0%
Intangible assets
86.6
108
104
-20.0%
Cash and equivalents
0.3
0.5
0.4
-41.1%
Receivables
90.6
76.6
55.5
+18.3%
Other assets
565
473
346
+19.2%
Total assets
1,000
919
780
+8.8%
10-K for the year ended 31 December 2022, filed 10 March 2023: the filing.