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AECOM vs VSE: ACM and VSEC compared
AECOM is the larger company: $4.2B of revenue in its latest quarter (Q4 FY25) against $541M for VSE (Q3 2026). VSE is growing faster (+91% against +2% a year earlier). VSE is more profitable, with an operating margin of 14.3% against 5.7%.
Where the money goes: ACM and VSEC
AECOM (ACM) · Q4 FY25
AECOM, Q4 FY25: revenue $4.2B (+2% year over year), operating margin 5.7%, net earnings $120M, operating cash flow $196M. The chart follows the revenue to costs, profit and cash.
VSE (VSEC) · Q3 2026
VSE, Q3 2026: revenue $541M (+91% year over year), operating margin 14.3%, net earnings $47.3M, operating cash flow $56.0M. The chart follows the revenue to costs, profit and cash.
| AECOM (ACM) | VSE (VSEC) | |
|---|---|---|
| Latest quarter | Q4 FY25 | Q3 2026 |
| Revenue | $4.2B | $541M |
| Revenue growth, Y/Y | +2% | +91% |
| Gross margin | 7.9% | — |
| Operating margin | 5.7% | 14.3% |
| Net earnings | $120M | $47.3M |
| Net margin | 2.9% | 8.7% |
| Operating cash flow | $196M | $56.0M |
| Free cash flow | $134M | $46.6M |
| Market value | $8.6B | $5.5B |
| P/E | 20.3× | 43.2× |
| Analysts’ mean target | $83.92 | $250.44 |
Where the revenue comes from
VSE
- Services: $318M (59%)
- Products: $223M (41%)
Questions
Which is bigger, AECOM or VSE?
AECOM is the larger company: $4.2B of revenue in its latest quarter (Q4 FY25) against $541M for VSE (Q3 2026).
Is AECOM or VSE growing faster?
VSE is growing faster (+91% against +2% a year earlier).
Which is more profitable, AECOM or VSE?
VSE is more profitable, with an operating margin of 14.3% against 5.7%.
More: AECOM earnings · how AECOM makes money · VSE earnings · how VSE makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Nov 19, 2025; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.