VSECVSE Corporation
Is it safe?
Forensics clean, with a caveat: a safe balance sheet and comfortable debt (AA), but big price swings.
Financially healthy, low distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Insiders were net sellers (-$4.5M, 90 days to Oct 8, 2026), selling is often routine.
Rock-solid balance sheet, low leverage. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -76% · now 29% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can VSEC take a bad year?
VSE Corporation carries $872M of net debt at 5.06× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 5.06×
Net debt / EBITDA · 3.10× a year ago · the load is going up
- Altman Z-score
- 7.74
Altman Z-score · safe zone, above 3
- Cash runway
- 5+ years
Cash runway · burning $280K a quarter at the current rate
Details›
- Total debtQ2 2026
- $947M
- Cash and short-term investments
- $75M
- Net debt
- $872M
- EBITDA, trailing twelve months
- $172M
- Operating profit, trailing twelve months
- $124M
- Debt / equity
- 0.32×
- Total debt / EBITDA
- 5.49×
- Annualised volatilitytwo years of daily moves
- 53%
- Worst drawdown on file
- −76%
- Below its 52-week high
- 29%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Aerospace & Defense
Ranks #25 of 36 by RyuScore