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Vse vs Willdan: revenue, profit, margins and growth compared

Vse brought in $1.1B of revenue in fiscal 2025, Willdan $681.6M in fiscal 2025. Revenue changed by +41.5% at Vse and +20.5% at Willdan on the year before, so Vse grew faster. Vse kept 1.1% of its revenue as net profit, Willdan 7.7%. Free cash flow was $5.7M at Vse and $70.7M at Willdan.

Side by side, latest fiscal year

VSECWLDN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (January 2, 2026)
Revenue$1.1B$681.6M
Revenue growth+41.5%+20.5%
Net income$11.7M$52.6M
Net margin1.1%7.7%
Free cash flow$5.7M$70.7M
Free cash flow margin0.5%10.4%
Earnings per share (diluted)$0.55$3.49
Cash$69.4M$65.9M
Debt$292.8M$48.5M
Price to earnings328.722.6
Market value$5.1B$1.2B
Dividend yield0.22%n/a
Rank by revenue in sector#446 of 778 · Consumer discretionary#522 of 778 · Consumer discretionary

Over the years

Revenue
VSEC FY2018: $697.2MVSEC FY2019: $752.6MVSEC FY2020: $661.7MVSEC FY2021: $481.4MVSEC FY2022: $669.4MVSEC FY2023: $544MVSEC FY2024: $786.3MVSEC FY2025: $1.1BWLDN FY2018: $272.3MWLDN FY2019: $443.1MWLDN FY2020: $391MWLDN FY2021: $353.8MWLDN FY2022: $429.1MWLDN FY2023: $510.1MWLDN FY2024: $565.8MWLDN FY2025: $681.6MFY18FY19FY20FY21FY22FY23FY24FY25
VSEC $1.1BWLDN $681.6M
Net income
VSEC FY2018: $35.1MVSEC FY2019: $37MVSEC FY2020: -$5.2MVSEC FY2021: $8MVSEC FY2022: $28.1MVSEC FY2023: $39.1MVSEC FY2024: $15.3MVSEC FY2025: $11.7MWLDN FY2018: $10MWLDN FY2019: $4.8MWLDN FY2020: -$14.5MWLDN FY2021: -$8.4MWLDN FY2022: -$8.4MWLDN FY2023: $10.9MWLDN FY2024: $22.6MWLDN FY2025: $52.6MFY18FY19FY20FY21FY22FY23FY24FY25
VSEC $11.7MWLDN $52.6M
Net margin
VSEC FY2018: 5.0%VSEC FY2019: 4.9%VSEC FY2020: -0.8%VSEC FY2021: 1.7%VSEC FY2022: 4.2%VSEC FY2023: 7.2%VSEC FY2024: 1.9%VSEC FY2025: 1.1%WLDN FY2018: 3.7%WLDN FY2019: 1.1%WLDN FY2020: -3.7%WLDN FY2021: -2.4%WLDN FY2022: -2.0%WLDN FY2023: 2.1%WLDN FY2024: 4.0%WLDN FY2025: 7.7%FY18FY19FY20FY21FY22FY23FY24FY25
VSEC 1.1%WLDN 7.7%
Revenue growth
VSEC FY2019: +7.9%VSEC FY2020: -12.1%VSEC FY2021: -27.2%VSEC FY2022: +39.1%VSEC FY2023: -18.7%VSEC FY2024: +44.5%VSEC FY2025: +41.5%WLDN FY2019: +62.8%WLDN FY2020: -11.8%WLDN FY2021: -9.5%WLDN FY2022: +21.3%WLDN FY2023: +18.9%WLDN FY2024: +10.9%WLDN FY2025: +20.5%FY19FY20FY21FY22FY23FY24FY25
VSEC +41.5%WLDN +20.5%
Free cash flow
VSEC FY2018: $15.7MVSEC FY2019: $8.4MVSEC FY2020: $31.3MVSEC FY2021: -$28.1MVSEC FY2022: -$3.2MVSEC FY2023: -$40.5MVSEC FY2024: -$51.7MVSEC FY2025: $5.7MWLDN FY2018: $5.5MWLDN FY2019: $5MWLDN FY2020: $41.9MWLDN FY2021: $1.3MWLDN FY2022: -$169KWLDN FY2023: $29.3MWLDN FY2024: $63.7MWLDN FY2025: $70.7MFY18FY19FY20FY21FY22FY23FY24FY25
VSEC $5.7MWLDN $70.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Vse and Willdan

Which is bigger by revenue, Vse or Willdan?

Vse is bigger by revenue: $1.1B in fiscal 2025, against $681.6M for Willdan in fiscal 2025.

Which keeps more of its revenue as profit, Vse or Willdan?

Vse had a net margin of 1.1% in fiscal 2025; Willdan had 7.7% in fiscal 2025.

Which grew revenue faster, Vse or Willdan?

In their latest fiscal years revenue changed by +41.5% at Vse and +20.5% at Willdan.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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