VSE公司 VSEC
$172.81 +$8.10 (+4.92%)
休市 · Nov 6, 8:10 pm ET · 最新盘后价 $172.81 0.00%
开盘$168.71
昨收$164.71
当日区间$162.82 – $176.26
成交量658.2K
市值$4.85B
市盈率（TTM）42.3
股息率0.23%
基本面
最新报告季度：Q2, ended Jun 2026
营收$449.14M+65.0% YoY
营业利润$48.96M+72.3% YoY
净利润$28.52M+792.2% YoY
摊薄每股收益$0.91+506.7% YoY
自由现金流$19.98M+217.0% YoY
经营现金流$27.56M
营收，近8个季度
净利润，近8个季度
各季度摊薄每股收益
各季度自由现金流
年度营收
盈利能力与资产负债表
毛利率12.6%
营业利润率10.9%
净利率5.5%
净资产收益率3.8%
资产收益率2.5%
投入资本回报率3.1%
流动比率3.77
负债/资产比率33.3%
现金及投资$75.36M
总负债$1.03B
净现金（净负债）-$950.24M
营收构成
2026/Q2 季度
按业务线
利润表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 报告营业总收入 | $449.14M | $324.58M | $1.11B | $301.18M | $282.91M |
| 营业总收入 | $449.14M | $324.58M | $1.11B | $301.18M | $282.91M |
| 营业成本 | $391.15M | $285.63M | $980.14M | $260.95M | $248.86M |
| 毛利润 | $57.99M | $38.95M | $132.14M | $40.24M | $34.05M |
| 营业费用 | $9.03M | $6.20M | $13.34M | $7.75M | $667,000.00 |
| 销售及管理费用 | $9.03M | $6.20M | $13.34M | $7.75M | $667,000.00 |
| 营业利润 | $48.96M | $32.75M | $118.80M | $32.49M | $33.39M |
| 非经营性利息净收入（支出） | -$5.23M | $1.40M | -$20.56M | -$1.83M | -$4.34M |
| 非经营性利息支出 | $5.23M | – | $20.56M | $1.83M | $4.34M |
| 其他收入（支出） | -$4.47M | – | -$29.20M | $0.00 | -$23.30M |
| 特殊收益（费用） | -$4.47M | – | -$29.20M | $0.00 | -$23.30M |
| -减：重组及并购费用 | $0.00 | – | $29.20M | $0.00 | $23.30M |
| -减：其他特殊支出 | $4.47M | – | – | – | – |
| 税前利润 | $39.26M | $34.15M | $69.04M | $30.66M | $5.75M |
| 税费 | $10.73M | $5.10M | $15.55M | $8.36M | $2.16M |
| 净利润 | $28.52M | $29.06M | $11.70M | $13.57M | $3.91M |
| 持续经营利润 | $28.52M | $29.06M | $53.49M | $22.30M | $3.59M |
| 终止经营净利润 | $0.00 | $0.00 | -$41.79M | -$8.73M | $321,000.00 |
| 归属母公司净利润 | $28.52M | $29.06M | $11.70M | $13.57M | $3.91M |
| 归属普通股股东净利润 | $28.52M | $29.06M | $11.70M | $13.57M | $3.91M |
| 基本每股收益 | $0.92 | $1.06 | $0.55 | $0.95 | $0.19 |
| 摊薄每股收益 | $0.91 | $1.04 | $0.55 | $0.95 | $0.19 |
| 每股股息 | $0.10 | $0.10 | $0.40 | $0.10 | $0.10 |
| 其他财务成本合计 | – | -$1.40M | – | – | – |
资产负债表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 总资产 | $4.40B | $3.31B | $2.03B | $2.03B | $1.56B |
| 流动资产合计 | $1.33B | $2.16B | $893.33M | $893.33M | $722.28M |
| 现金及现金等价物与短期投资 | $75.36M | $1.24B | $69.36M | $69.36M | $8.78M |
| -现金及现金等价物 | $75.36M | $1.24B | $69.36M | $69.36M | $8.78M |
| 应收款 | $334.12M | $262.23M | $232.20M | $232.20M | $210.43M |
| -应收账款 | $274.63M | $216.50M | $190.73M | $190.73M | $176.40M |
| -其他应收款 | $59.49M | $45.72M | $41.47M | $41.47M | $34.03M |
| 存货 | $867.12M | $625.74M | $553.83M | $553.83M | $464.32M |
| 其他流动资产 | $48.87M | $33.57M | $37.94M | $37.94M | $38.76M |
| 非流动资产合计 | $3.07B | $1.15B | $1.14B | $1.14B | $838.17M |
| 固定资产净值 | $258.87M | $142.09M | $141.25M | $141.25M | $125.96M |
| -固定资产原值 | $301.97M | $179.99M | $175.46M | $175.46M | $156.76M |
| -累计折旧 | -$43.10M | -$37.90M | -$34.21M | -$34.21M | -$30.80M |
| 一年以上应收票据 | $28.42M | $27.74M | $27.04M | $27.04M | $26.34M |
| 商誉及其他无形资产 | $2.76B | $957.70M | $937.20M | $937.20M | $630.55M |
| -商誉 | $1.81B | $638.89M | $641.24M | $641.24M | $428.71M |
| -其他无形资产 | $952.09M | $318.81M | $295.96M | $295.96M | $201.85M |
| 其他非流动资产 | $22.13M | $22.20M | $29.76M | $29.76M | $55.31M |
| 负债合计 | $1.46B | $644.45M | $589.77M | $589.77M | $577.11M |
| 流动负债合计 | $351.81M | $246.19M | $237.51M | $237.51M | $183.35M |
| 应付款 | $189.87M | $150.72M | $158.97M | $158.97M | $114.49M |
| -应付账款 | $187.07M | $147.91M | $154.51M | $154.51M | $112.43M |
| -应付股利 | $2.81M | $2.81M | $2.34M | $2.34M | $2.07M |
| 一年内应计费用 | $96.08M | $65.55M | $26.04M | $26.04M | $61.36M |
| 短期债务及融资租赁负债 | $32.00M | $29.92M | $13.81M | $13.81M | $7.50M |
| -一年内到期债务 | $32.00M | $29.92M | $7.50M | $7.50M | $7.50M |
| 其他流动负债 | $33.85M | – | $12.44M | $12.44M | – |
| 非流动负债合计 | $1.11B | $398.26M | $352.26M | $352.26M | $393.76M |
| 长期债务及融资租赁负债 | $993.60M | $372.61M | $329.00M | $329.00M | $386.21M |
| -长期债务 | $914.95M | $331.05M | $285.30M | $285.30M | $348.60M |
| -长期融资租赁负债 | $78.64M | $41.56M | $43.69M | $43.69M | $37.61M |
| 一年以上递延负债 | $109.70M | $21.40M | $18.31M | $18.31M | $7.33M |
| 其他非流动负债 | $8.87M | $4.25M | $4.96M | $4.96M | $220,000.00 |
| 股东权益合计 | $2.93B | $2.67B | $1.44B | $1.44B | $983.34M |
| 股东权益 | $2.93B | $2.67B | $1.44B | $1.44B | $983.34M |
| 股本 | $1.40M | $1.40M | $1.17M | $1.17M | $1.03M |
| -普通股 | $1.40M | $1.40M | $1.17M | $1.17M | $1.03M |
| 资本公积 | $2.48B | $2.24B | $1.04B | $1.04B | $597.21M |
| 留存收益 | $447.61M | $421.89M | $395.64M | $395.64M | $384.42M |
| 不影响留存收益的损益 | $287,000.00 | $1.17M | $512,000.00 | $512,000.00 | $680,000.00 |
| -应付税款合计 | – | – | $2.12M | $2.12M | – |
| -一年内到期融资租赁负债 | – | – | $6.31M | $6.31M | – |
| 一年内递延负债 | – | – | $6.89M | $6.89M | – |
现金流量表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 经营活动现金流 | $27.56M | -$62.26M | $26.99M | $37.64M | $24.09M |
| 持续经营经营活动现金流净额 | $27.56M | -$62.26M | $26.99M | $37.64M | $24.09M |
| 持续经营净利润 | $28.52M | $29.06M | $11.70M | $13.57M | $3.91M |
| 持续经营损益 | $4.69M | $3,000.00 | $45,000.00 | $35,000.00 | $0.00 |
| 折旧、折耗与摊销 | $23.97M | $12.75M | $39.92M | $10.19M | $10.19M |
| 递延税款 | $4.03M | $5.42M | -$58,000.00 | $19.06M | -$15.64M |
| 其他非现金项目 | $142,000.00 | -$611,000.00 | $28.62M | -$501,000.00 | $22.16M |
| 营运资金变动 | -$37.89M | -$113.45M | -$113.13M | -$7.64M | $385,000.00 |
| -应收款变动 | $17.16M | -$30.53M | -$35.10M | -$8.90M | $6.82M |
| -存货变动 | -$44.07M | -$71.54M | -$56.87M | -$30.35M | -$1.04M |
| -应付账款及应计费用变动 | -$6.55M | -$12.29M | -$19.00M | $25.62M | -$24.96M |
| -其他营运资金变动 | $1.49M | $396,000.00 | $2.38M | $1.54M | $2.41M |
| 投资活动现金流净额 | -$1.77B | -$27.09M | -$276.45M | -$353.01M | -$6.06M |
| 持续经营投资活动现金流净额 | -$1.77B | -$27.09M | -$276.45M | -$353.01M | -$6.06M |
| 固定资产购置及出售净额 | -$8.87M | -$6.46M | -$21.28M | -$6.77M | -$6.05M |
| 无形资产购置及出售净额 | $1.29M | -$16.00M | – | – | – |
| 业务购买及出售净额 | -$1.76B | -$5.39M | -$255.17M | -$346.24M | -$6,000.00 |
| 其他投资变动净额 | $0.00 | $760,000.00 | – | – | – |
| 筹资活动现金流 | $577.56M | $1.26B | $289.79M | $375.94M | -$26.16M |
| 持续经营筹资活动现金流净额 | $577.56M | $1.26B | $289.79M | $375.94M | -$26.16M |
| 债务发行及偿还净额 | $1.03B | -$1.88M | -$136.25M | -$63.49M | -$23.26M |
| 普通股发行净额 | $219,000.00 | $829.46M | $442.17M | $441.70M | $0.00 |
| 已付现金股利 | -$2.81M | -$2.34M | -$8.26M | -$2.07M | -$2.07M |
| 其他筹资费用净额 | -$452.17M | $434.16M | -$7.86M | -$203,000.00 | -$829,000.00 |
| 期末现金余额 | $75.36M | $1.24B | $69.36M | $69.36M | $8.78M |
| 现金净变动 | -$1.16B | $1.17B | $40.33M | $60.57M | -$8.12M |
| 期初现金余额 | $1.24B | $69.36M | $29.03M | $8.78M | $16.91M |
| 自由现金流 | $19.98M | -$84.72M | $5.71M | $30.87M | $18.04M |
| -其他流动资产变动 | – | $515,000.00 | – | – | – |
| -预付资产变动 | – | – | -$4.53M | $4.46M | $17.15M |
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