VSE CORPORATION vs V2X, Inc., two Consulting stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both prices lean on defense budgets, and both look expensive against their own economics, which is the interesting part: VSE at a headline 108.2 times earnings, its aviation-aftermarket profits compressed by acquisition costs (an 8.8 current ratio and negative 0.2% free-cash yield mark the mid-buildout state), and V2X at 25.9 times on logistics margins of 3.5%. VSE runs nearly debt-free; V2X carries almost a full turn. Neither earns much on assets yet, 1.5% and 2.8%. These are two ways to own the unglamorous side of defense spending, parts and operations rather than platforms, both priced for the budgets to keep flowing and neither yet showing the economics the multiples assume. The order books are the argument; the income statements are still catching up.
Comparison updated 2026-07-10.
| Metric | VSEC | VVX |
|---|---|---|
| Price | $219.66 | $72.52 |
| Market cap | $6.1B | $2.3B |
| Sector | Consulting | Consulting |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | +4.3% |
| P/E | 108.2 | 25.9 |
| P/B | 2.29 | 2.07 |
| P/S | 5.18 | 0.48 |
| EV/EBITDA | 47.6 | 16.2 |
| Revenue growth | +34.8% | +9.3% |
| Operating margin | 10.1% | 3.5% |
| Net margin | 4.2% | 1.9% |
| Return on equity | 1.9% | 8.0% |
| Return on assets | 1.5% | 2.8% |
| Return on invested capital | 2.7% | 7.5% |
| FCF yield | -0.2% | 6.0% |
| Dividend yield | 0.2% | — |
| Debt / equity | 0.15 | 0.97 |
| Current ratio | 8.78 | 1.25 |
| Altman Z (solvency) | 6.95 | 2.43 |
| Piotroski F (quality) | 4 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.