RDW
Redwire Corporation
RDW's outlook is improving, though it still trails on the overall score.
VSEC
VSE Corporation
VSEC has the edge over RDW overall, supported by lower modeled downside and stronger modeled upside.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
VSEC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Stable | |
| Under pressure |
VSEC's revenue and profitability are currently strong, and its cash flow is stable, but its balance sheet is under pressure.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
VSEC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 20x | $80.58 | -56% |
| Forward | 23x | $184 | — |
| Current | 45x | $184 | — |
| Fair | 63x | $258 | +40% |
| Expensive | 147x | $601 | +227% |
Historical ranges are pointers, not guarantees.
VSEC's PE is in its fair range at 45x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its cheap range.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
VSEC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for VSEC, with profitability improving. However, they disagree widely on these estimates.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
VSEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.85 | +92% |
| Q3 2026 | $4.08 | +483% |
| Q2 2026 | $2.78 | +144% |
| Q1 2026 | $2.03 | +148% |
| Q4 2025 | $0.55 | -35% |
| Q3 2025 | $0.70 | -13% |
| Q2 2025 | $1.14 | +42% |
| Q1 2025 | $0.82 | -50% |
| Q4 2024 | $0.85 | -69% |
VSEC has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW's revenue has grown year over year for five quarters in a row: $109M last quarter, up 5.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
VSEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $541M | +91% |
| Q2 2026 | $449.1M | +65% |
| Q1 2026 | $324.6M | +27% |
| Q4 2025 | $301.2M | +0.7% |
| Q3 2025 | $282.9M | +3.4% |
| Q2 2025 | $272.1M | +2.3% |
| Q1 2025 | $256M | +6% |
| Q4 2024 | $299M | +27% |
VSEC's revenue has grown year over year for 10 quarters in a row: $541M last quarter, up 91% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +11 points |
| Q2 2026 | 11% | +2.6 points |
| Q1 2026 | 10% | +0.5 points |
| Q4 2025 | 11% | +1.6 points |
| Q3 2025 | 3.6% | -5.1 points |
| Q2 2025 | 8.3% | +6 points |
| Q1 2025 | 9.6% | -0.4 points |
| Q4 2024 | 9.2% | -1.6 points |
VSEC has the edge over RDW on profitability, with a higher operating margin.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
VSEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $46.6M | +158% |
| Q2 2026 | $18.7M | +197% |
| Q1 2026 | -$68.7M | -$19.2M |
| Q4 2025 | $30.9M | -41% |
| Q3 2025 | $18M | +309% |
| Q2 2025 | $6.3M | +$27.8M |
| Q1 2025 | -$49.5M | +$37.3M |
| Q4 2024 | $52.1M | +160% |
VSEC has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
VSEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +405K shares |
| 1 year | +53% | +11.1M shares |
| 3 years | +146% | +18.9M shares |
| 5 years | +150% | +19.1M shares |
| Available history | +187% | +20.7M shares |
VSEC has the edge over RDW on shareholder dilution, with a more favorable share count trend.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
VSEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.3x | Elevated |
| Q2 2026 | 4.8x | High |
| Q1 2026 | -6.3x | Net Cash |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 2.8x | Moderate |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 4.0x | High |
| Q4 2024 | 3.6x | Elevated |
VSEC's net debt is about 3.3 years of its operating earnings (EBITDA), up from 2.8 years a year ago.
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
VSEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.6 | Neutral |
| Stochastic | 26.8 | Neutral |
VSEC's weekly RSI is 50 (neutral) and its Stochastic is 27 (neutral).
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
VSEC PE vs Industrials Sector
| Metric | VSEC | Sector median | Relative |
|---|---|---|---|
| PE | 45x | 24x | 87% above |
| PE % | 40 | 58 | 18 pts below |
VSEC is trading at 45x earnings, a 87% premium to the Industrials sector's median of 24x.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
VSEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $166.5 | 10% above |
| 20 week MA | $191.6 | 4.2% below |
| 50 week MA | $193.5 | 5.1% below |
| 100 week MA | $163.9 | 12% above |
| 200 week MA | $116.5 | 58% above |
VSEC has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over VSEC on returns for 2026, with the stronger performance.
VSEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.0 | $40.7 | +4.4% |
| 2021 | $40.7 | $61.5 | +51% |
| 2022 | $61.5 | $44.9 | -27% |
| 2023 | $44.9 | $64.6 | +44% |
| 2024 | $64.6 | $96.8 | +50% |
| 2025 | $96.8 | $179.5 | +85% |
| 2026 YTD | $179.5 | $183.6 | +2.3% |
VSEC has finished higher in five of the last six years, two of them by more than 50%. It's up 2.3% so far in 2026.