Filing Flows › VSE (VSEC) › Q3 2026 › vs Q3 2025
VSE (VSEC) Q3 2026 vs Q3 2025 (year over year)
VSE's revenue rose $258M (+91%) from $283M in Q3 2025 to $541M in Q3 2026. The biggest changes: Services +$211M (+198%); Products +$46.9M (+27%). Operating margin 14.3% against 3.6% (+10.8 pts).
VSE, Q3 2026: revenue $541M (+91% year over year), operating margin 14.3%, net earnings $47.3M, operating cash flow $56.0M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.3% | 3.6% | +10.8 pts |
| Net margin | 8.7% | 1.4% | +7.4 pts |
| Free cash flow margin | 8.6% | 6.4% | +2.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Services | $318M | $107M | $211M | +198% |
| Products | $223M | $176M | $46.9M | +27% |
| Revenue | $541M | $283M | $258M | +91% |
| Operating profit | $77.5M | $10.1M | $67.4M | +668% |
| Costs & expenses | $464M | $273M | $191M | +70% |
| Pre-tax earnings | $63.4M | $6.1M | $57.3M | +944% |
| Other expense, net | $14.1M | $4.0M | $10.1M | +251% |
| SG&A | $5.3M | $667K | $4.6M | +692% |
| Other operating costs | $458M | $272M | $186M | +68% |
| Net earnings | $47.3M | $3.9M | $43.4M | 12× |
| Income tax | $16.1M | $2.2M | $13.9M | +646% |
| Depreciation & amortization | $30.1M | $10.2M | $19.9M | +196% |
| Share-based compensation | $4.3M | $3.2M | $1.1M | +33% |
| Working capital & other | $25.7M | −$6.7M | $32.5M | — |
| Operating cash flow | $56.0M | $24.1M | $31.9M | +132% |
| Free cash flow (company-reported) | $46.6M | $18.0M | $28.6M | +158% |
| Capital expenditures | $9.4M | $6.0M | $3.3M | +55% |
Questions
How much did VSE's revenue grow year over year in Q3 2026?
VSE's revenue rose $258M (+91%) from $283M in Q3 2025 to $541M in Q3 2026.
What drove VSE's revenue change in Q3 2026?
Services +$211M (+198%); Products +$46.9M (+27%).