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Side-by-side financial comparison of ONITY GROUP INC. (ONIT) and VSE CORP (VSEC). Click either name above to swap in a different company.
VSE CORP is the larger business by last-quarter revenue ($324.6M vs $290.0M, roughly 1.1× ONITY GROUP INC.). ONITY GROUP INC. runs the higher net margin — 43.9% vs 9.0%, a 34.9% gap on every dollar of revenue. On growth, ONITY GROUP INC. posted the faster year-over-year revenue change (29.0% vs 26.8%). VSE CORP produced more free cash flow last quarter ($-68.7M vs $-750.9M). Over the past eight quarters, VSE CORP's revenue compounded faster (10.5% CAGR vs 10.1%).
Onity Group, formerly Ocwen, is a provider of residential and commercial mortgage loan servicing, special servicing, and asset management services, which has been described as "debt collectors, collecting monthly principal and interest from homeowners". Ocwen was founded in 1988 and is headquartered in West Palm Beach, Florida, with additional offices in Mount Laurel, NJ, Rancho Cordova, California, and St. Croix, U.S. Virgin Islands. It also has support operations in the Philippines and Indi...
VSE Corporation is a leading provider of aftermarket distribution and repair services. Operating through its two key segments, VSE significantly enhances the productivity and longevity of its customers' high-value, business-critical assets. The aviation segment is a leading provider of aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services for components and engine accessories to commercial, business, and general aviation operators. The fleet segment specializes i...
ONIT vs VSEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $290.0M | $324.6M |
| Net Profit | $127.2M | $29.1M |
| Gross Margin | — | — |
| Operating Margin | — | 10.1% |
| Net Margin | 43.9% | 9.0% |
| Revenue YoY | 29.0% | 26.8% |
| Net Profit YoY | 552.7% | — |
| EPS (diluted) | $14.53 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $324.6M | ||
| Q4 25 | $290.0M | $301.2M | ||
| Q3 25 | $280.3M | $282.9M | ||
| Q2 25 | $246.6M | $272.1M | ||
| Q1 25 | $249.8M | $256.0M | ||
| Q4 24 | $224.8M | $299.0M | ||
| Q3 24 | $265.7M | $273.6M | ||
| Q2 24 | $246.4M | $266.0M |
| Q1 26 | — | $29.1M | ||
| Q4 25 | $127.2M | $13.6M | ||
| Q3 25 | $18.7M | $3.9M | ||
| Q2 25 | $21.5M | $3.2M | ||
| Q1 25 | $22.1M | $-9.0M | ||
| Q4 24 | $-28.1M | $13.1M | ||
| Q3 24 | $21.4M | $11.7M | ||
| Q2 24 | $10.5M | $-2.8M |
| Q1 26 | — | 10.1% | ||
| Q4 25 | — | 10.8% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | 3.6% | 9.6% | ||
| Q4 24 | -14.9% | 9.2% | ||
| Q3 24 | 10.4% | 8.7% | ||
| Q2 24 | 5.5% | 2.3% |
| Q1 26 | — | 9.0% | ||
| Q4 25 | 43.9% | 4.5% | ||
| Q3 25 | 6.7% | 1.4% | ||
| Q2 25 | 8.7% | 1.2% | ||
| Q1 25 | 8.8% | -3.5% | ||
| Q4 24 | -12.5% | 4.4% | ||
| Q3 24 | 8.1% | 4.3% | ||
| Q2 24 | 4.3% | -1.0% |
| Q1 26 | — | — | ||
| Q4 25 | $14.53 | $0.64 | ||
| Q3 25 | $2.03 | $0.19 | ||
| Q2 25 | $2.40 | $0.16 | ||
| Q1 25 | $2.50 | $-0.44 | ||
| Q4 24 | $-3.59 | $0.79 | ||
| Q3 24 | $2.65 | $0.63 | ||
| Q2 24 | $1.33 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $180.5M | $-1.2B |
| Total DebtLower is stronger | — | $361.0M |
| Stockholders' EquityBook value | $627.9M | $2.7B |
| Total Assets | $16.2B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-1.2B | ||
| Q4 25 | $180.5M | $69.4M | ||
| Q3 25 | $172.8M | $8.8M | ||
| Q2 25 | $194.3M | $16.9M | ||
| Q1 25 | $178.0M | $5.7M | ||
| Q4 24 | $184.8M | $29.0M | ||
| Q3 24 | $201.6M | $7.9M | ||
| Q2 24 | $203.1M | $19.0M |
| Q1 26 | — | $361.0M | ||
| Q4 25 | — | $292.8M | ||
| Q3 25 | — | $356.1M | ||
| Q2 25 | — | $379.2M | ||
| Q1 25 | — | $465.0M | ||
| Q4 24 | — | $430.2M | ||
| Q3 24 | — | $450.3M | ||
| Q2 24 | — | $463.5M |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $627.9M | $1.4B | ||
| Q3 25 | $501.4M | $983.3M | ||
| Q2 25 | $481.9M | $979.5M | ||
| Q1 25 | $460.2M | $975.7M | ||
| Q4 24 | $442.9M | $988.2M | ||
| Q3 24 | $468.2M | $787.8M | ||
| Q2 24 | $446.2M | $781.3M |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $16.2B | $2.0B | ||
| Q3 25 | $16.1B | $1.6B | ||
| Q2 25 | $16.5B | $1.6B | ||
| Q1 25 | $16.3B | $1.7B | ||
| Q4 24 | $16.4B | $1.7B | ||
| Q3 24 | $13.2B | $1.5B | ||
| Q2 24 | $13.1B | $1.5B |
| Q1 26 | — | 0.14× | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.59× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-748.0M | $-62.3M |
| Free Cash FlowOCF − Capex | $-750.9M | $-68.7M |
| FCF MarginFCF / Revenue | -258.9% | -21.2% |
| Capex IntensityCapex / Revenue | 1.0% | 2.0% |
| Cash ConversionOCF / Net Profit | -5.88× | -2.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-62.3M | ||
| Q4 25 | $-748.0M | $37.6M | ||
| Q3 25 | $229.5M | $24.1M | ||
| Q2 25 | $-598.8M | $11.9M | ||
| Q1 25 | $-148.1M | $-46.6M | ||
| Q4 24 | $-573.8M | $55.4M | ||
| Q3 24 | $19.2M | $10.2M | ||
| Q2 24 | $-77.9M | $-17.5M |
| Q1 26 | — | $-68.7M | ||
| Q4 25 | $-750.9M | $30.9M | ||
| Q3 25 | $228.8M | $18.0M | ||
| Q2 25 | — | $6.3M | ||
| Q1 25 | $-148.4M | $-49.5M | ||
| Q4 24 | $-574.6M | $52.1M | ||
| Q3 24 | $19.1M | $4.4M | ||
| Q2 24 | $-78.0M | $-21.5M |
| Q1 26 | — | -21.2% | ||
| Q4 25 | -258.9% | 10.3% | ||
| Q3 25 | 81.6% | 6.4% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | -59.4% | -19.3% | ||
| Q4 24 | -255.6% | 17.4% | ||
| Q3 24 | 7.2% | 1.6% | ||
| Q2 24 | -31.7% | -8.1% |
| Q1 26 | — | 2.0% | ||
| Q4 25 | 1.0% | 2.2% | ||
| Q3 25 | 0.2% | 2.1% | ||
| Q2 25 | 0.0% | 2.1% | ||
| Q1 25 | 0.1% | 1.1% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.0% | 2.1% | ||
| Q2 24 | 0.0% | 1.5% |
| Q1 26 | — | -2.14× | ||
| Q4 25 | -5.88× | 2.77× | ||
| Q3 25 | 12.27× | 6.16× | ||
| Q2 25 | -27.85× | 3.72× | ||
| Q1 25 | -6.70× | — | ||
| Q4 24 | — | 4.24× | ||
| Q3 24 | 0.90× | 0.87× | ||
| Q2 24 | -7.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONIT
Segment breakdown not available.
VSEC
| Products | $202.3M | 62% |
| Services | $122.2M | 38% |
