What is Valhi, Inc.'s earnings per share (EPS)?

Valhi, Inc. (VHI) reported diluted earnings per share of -$2.02 for fiscal year 2025. This represents a -153.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Valhi, Inc. (VHI) Financials

VHI

Trailing 12 months to June 30, 2026

Revenue $2.2B +3.4% YoY

Net Income -$51.1M -152.1% YoY

EPS (Diluted) -$1.80 -152.5% YoY

Free Cash Flow $62.7M +151.2% YoY

Market Cap $405.0M as of Oct 13, 2026

Price / Sales 0.2x on $2.2B revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 0.4x on $1.0B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VHI SEC filings page.

Valhi, Inc. (VHI) reported $2.2B in revenue over the twelve months to Jun 30, 2026, up 3.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VHI FY2025 2026-10-03

Valhi’s earnings recovery reversed in FY2025 as weaker margins, higher overhead, and renewed cash outflows made financing more important.

Across the latest two periods, operating cash flow changed from $44M to -$35.5M as capital spending rose, pushing free cash flow from positive to negative. This makes the latest loss look operationally meaningful rather than solely an accounting result: cash conversion weakened while reinvestment increased.

With revenue broadly stable, gross margin compressed from 20.2% to 14.2%. SG&A rose to $312M from $256M, so the profit decline reflects both weaker unit economics and less fixed-cost absorption.

Leverage increased to 0.6x debt-to-equity even as total liabilities declined, because equity slipped and long-term debt rose. The current ratio improved to 2.8x from 2.3x, while reported liquidity equals 75.4 months of the latest annual operating outflow—a balance-sheet cushion that coexists with weaker operating cash generation.

Financial Health Signals

Financial Health Score 44/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Valhi, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Valhi, Inc. has an operating margin of 3.0%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 50/100, indicating healthy but not exceptional operating efficiency. This is down from 10.0% the prior year.

Growth

Valhi, Inc.'s revenue declined 1.3% year-over-year, from $2.1B to $2.1B. This contraction results in a growth score of 45/100.

Leverage

Valhi, Inc. has elevated debt relative to equity (D/E of 0.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.

Liquidity

With a current ratio of 2.80, Valhi, Inc. holds $2.80 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.

Cash Flow

Valhi, Inc.'s operations used $35.5M of cash, and capex of $46.6M added to the outflow, for a free cash flow shortfall of $82.1M. This results in a cash flow score of 21/100.

Returns

Valhi, Inc. posts a -5.6% return on equity (ROE), meaning it loses $6 for every $100 of shareholders' equity. This results in a returns score of 48/100. This is down from 10.4% the prior year.

Altman Z-Score Distress

1.66

Valhi, Inc. scores 1.66, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

3/9

Valhi, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Valhi, Inc. reported a net loss of $57.6M while operations used $35.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

1.11x

Valhi, Inc. earns $1.11 in operating income for every $1 of interest expense ($63.3M vs $57.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$606.1M

YoY+12.2%

QoQ+8.2%

5Y CAGR+2.9%

10Y CAGR+4.6%

Valhi, Inc. generated $606.1M in revenue in Q2 2026. This represents an increase of 12.2% from the same quarter a year earlier. Against the prior quarter it is up 8.2%.

EBITDA

$84.8M

YoY+63.1%

QoQ+70.3%

5Y CAGR+3.8%

10Y CAGR+9.4%

Valhi, Inc.'s EBITDA was $84.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 63.1% from the same quarter a year earlier. Against the prior quarter it is up 70.3%.

Net Income

$22.3M

YoY+2377.8%

QoQ+1015.0%

5Y CAGR+0.8%

Valhi, Inc. reported $22.3M in net income in Q2 2026. This represents an increase of 2377.8% from the same quarter a year earlier. Against the prior quarter it is up 1015.0%.

EPS (Diluted)

$0.78

YoY+2500.0%

QoQ+1014.3%

5Y CAGR+0.8%

Valhi, Inc. earned $0.78 per diluted share (EPS) in Q2 2026. This represents an increase of 2500.0% from the same quarter a year earlier. Against the prior quarter it is up 1014.3%.

Cash & Balance Sheet

Free Cash Flow

$41.9M

YoY+360.4%

QoQ+173.9%

5Y CAGR+38.9%

10Y CAGR+11.4%

Valhi, Inc. generated $41.9M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 360.4% from the same quarter a year earlier. Against the prior quarter it is up 173.9%.

Cash & Debt

$209.7M

YoY+11.2%

QoQ+8.3%

5Y CAGR-16.6%

10Y CAGR+1.0%

Valhi, Inc. held $209.7M in cash against $586.7M in long-term debt as of Q2 2026.

Dividends Per Share

$0.08

YoY0.0%

QoQ0.0%

5Y CAGR0.0%

10Y CAGR+14.9%

Valhi, Inc. paid $0.08 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

28M

YoY+0.1%

QoQ+0.1%

5Y CAGR0.0%

10Y CAGR-22.0%

Valhi, Inc. had 28M shares outstanding in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Margins & Returns

Gross Margin

19.8%

YoY+5.4pp

QoQ+1.4pp

5Y change-3.9pp

10Y change+3.1pp

Valhi, Inc.'s gross margin was 19.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 5.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.

Operating Margin

11.2%

YoY+4.6pp

QoQ+5.3pp

5Y change+0.6pp

10Y change+6.8pp

Valhi, Inc.'s operating margin was 11.2% in Q2 2026, reflecting core business profitability. This is up 4.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.3 percentage points.

Net Margin

3.7%

YoY+3.5pp

QoQ+3.3pp

5Y change-0.4pp

10Y change+5.9pp

Valhi, Inc.'s net profit margin was 3.7% in Q2 2026, showing the share of revenue converted to profit. This is up 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.3 percentage points.

Return on Equity

2.1%

YoY+2.1pp

QoQ+1.9pp

5Y change-0.8pp

10Y change+5.9pp

Valhi, Inc.'s ROE was 2.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.

Capital Allocation

Capital Expenditures

$17.2M

YoY+36.5%

QoQ+62.3%

5Y CAGR+7.5%

10Y CAGR+5.4%

Valhi, Inc. invested $17.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 36.5% from the same quarter a year earlier. Against the prior quarter it is up 62.3%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

VHI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VHI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$2.2B	$2.1B-1.3%	$2.1B+9.5%	$1.9B-13.5%	$2.2B-3.2%	$2.3B+24.1%	$1.8B-2.5%	$1.9B+4.3%	$1.8B-3.2%	$1.9B+23.7%	$1.5B+2.1%	$1.5B-20.1%	$1.9B-0.1%	$1.9B-10.7%	$2.1B+3.1%	$2.0B
Cost of Revenue	$1.8B	$1.8B+6.0%	$1.7B+0.2%	$1.7B-3.2%	$1.7B+0.9%	$1.7B+19.4%	$1.4B-1.7%	$1.5B+20.8%	$1.2B-4.4%	$1.3B+4.5%	$1.2B-3.8%	$1.3B-13.7%	$1.5B-15.6%	$1.7B+14.4%	$1.5B+18.3%	$1.3B
Gross Profit	$317.9M	$295.4M-30.4%	$424.5M+73.1%	$245.2M-50.0%	$490.4M-15.5%	$580.2M+40.8%	$412.1M-5.2%	$434.6M-28.7%	$609.2M-0.6%	$612.9M+99.1%	$307.9M+34.8%	$228.4M-43.3%	$402.8M+200.1%	$134.2M-76.7%	$575.2M-23.0%	$746.7M
R&D Expenses	N/A	$17.0M+21.4%	$14.0M-22.2%	$18.0M+12.5%	$16.0M-5.9%	$17.0M+6.3%	$16.0M-5.9%	$17.0M+6.3%	$16.0M-15.8%	$19.0M+46.2%	$13.0M-18.8%	$16.0M-15.8%	$19.0M+5.6%	$18.0M-5.3%	$19.0M-5.0%	$20.0M
SG&A Expenses	$310.9M	$312.3M+21.9%	$256.2M-7.6%	$277.4M-8.8%	$304.0M-2.5%	$311.9M+10.0%	$283.6M-3.6%	$294.2M-5.1%	$310.0M+18.1%	$262.6M+12.9%	$232.6M-6.4%	$248.6M-10.0%	$276.1M-26.4%	$375.1M+37.2%	$273.3M+1.6%	$268.9M
Operating Income	$78.3M	$63.3M-70.0%	$210.7M+516.1%	$34.2M-85.7%	$239.4M-24.9%	$318.6M+71.2%	$186.1M-3.4%	$192.7M-48.0%	$370.7M-2.5%	$380.3M+219.0%	$119.2M+464.9%	$21.1M-87.6%	$170.2M+222.7%	-$138.7M-140.2%	$345.4M-33.8%	$521.4M
EBITDA	N/A	$129.7M-53.2%	$277.4M+214.2%	$88.3M-70.4%	$297.9M-21.2%	$377.9M+48.4%	$254.6M+2.0%	$249.5M-41.9%	$429.1M-2.3%	$439.3M+135.3%	$186.7M+105.2%	$91.0M-63.4%	$248.6M+487.2%	-$64.2M-115.5%	$414.8M-29.1%	$585.2M
Interest Expense	$59.5M	$57.1M+14.4%	$49.9M+76.3%	$28.3M+1.4%	$27.9M-14.2%	$32.5M-10.2%	$36.2M-11.3%	$40.8M-26.8%	$55.7M-5.4%	$58.9M+1.4%	$58.1M+8.4%	$53.6M-5.5%	$56.7M+1.1%	$56.1M-0.4%	$56.3M-8.9%	$61.8M
Income Tax	$14.0M	$11.9M-85.6%	$82.9M+437.0%	-$24.6M-166.8%	$36.8M-38.8%	$60.1M+278.0%	$15.9M-40.0%	$26.5M+186.3%	-$30.7M+74.4%	-$120.0M-745.2%	$18.6M-82.7%	$107.5M+230.8%	$32.5M+135.7%	-$91.0M-186.8%	$104.8M-38.3%	$169.9M
Net Income	-$51.1M	-$57.6M-153.3%	$108.0M+1190.9%	-$9.9M-111.4%	$87.2M-31.4%	$127.2M+130.4%	$55.2M+12.2%	$49.2M-81.2%	$262.2M+26.4%	$207.5M+1405.0%	-$15.9M+88.1%	-$133.6M-348.3%	$53.8M+154.9%	-$98.0M-161.3%	$159.8M-26.5%	$217.5M
EPS (Basic)	N/A	-$2.02-153.3%	$3.79+1182.9%	-$0.35-111.4%	$3.06-31.4%	$4.46+129.9%	$1.94+12.1%	$1.73	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$1.80	-$2.02-153.3%	$3.79+1182.9%	-$0.35-111.4%	$3.06-31.4%	$4.46+129.9%	$1.94	$1.73	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	290.0%	290.0%	290.0%	29-100.0%	29M0.0%	29M	29M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$606.1M+12.2%	$560.1M+4.0%	$494.5M+2.8%	$503.5M-5.6%	$540.4M-3.4%	$538.6M+1.5%	$480.9M+6.2%	$533.6M+13.8%
Cost of Revenue	$486.0M+5.1%	$457.1M+9.9%	$460.3M+21.0%	$442.9M+6.1%	$462.3M+5.5%	$416.1M-6.3%	$380.3M-2.0%	$417.3M+2.2%
Gross Profit	$120.1M+53.8%	$103.0M-15.9%	$34.2M-66.0%	$60.6M-47.9%	$78.1M-35.6%	$122.5M+41.9%	$100.6M+54.8%	$116.3M+91.9%
SG&A Expenses	$78.8M-0.5%	$77.5M-1.3%	$77.0M+100.0%	$77.6M+4.6%	$79.2M+5.7%	$78.5M+14.4%	$38.5M-45.9%	$74.2M+7.4%
Operating Income	$67.7M+90.7%	$32.9M-34.3%	-$30.9M-154.5%	$8.6M-87.3%	$35.5M-35.2%	$50.1M+59.0%	$56.7M+229.7%	$67.7M+2608.0%
EBITDA	$84.8M+63.1%	$49.8M-24.0%	-$13.5M-118.7%	$25.7M-70.3%	$52.0M-30.4%	$65.5M+48.9%	$72.2M+135.9%	$86.5M+444.0%
Interest Expense	$14.7M+6.5%	$14.7M+11.4%	$15.2M+14.3%	$14.9M+11.2%	$13.8M+16.0%	$13.2M+16.8%	$13.3M+92.8%	$13.4M+86.1%
Income Tax	$11.8M+47.5%	$6.3M-21.3%	-$18.4M-150.7%	$14.3M-58.3%	$8.0M+1.3%	$8.0M+81.8%	$36.3M+1030.8%	$34.3M+539.7%
Net Income	$22.3M+2377.8%	$2.0M-88.2%	-$53.2M-333.3%	-$22.2M-138.6%	$900K-95.5%	$16.9M+116.7%	$22.8M+470.0%	$57.5M+1091.4%
EPS (Basic)	$0.78+2500.0%	$0.07-88.1%	-$1.87-333.8%	-$0.78-138.8%	$0.03-95.7%	$0.59+118.5%	$0.80+370.6%	$2.01+1057.1%
EPS (Diluted)	$0.78+2500.0%	$0.07-88.1%	-$1.87-333.8%	-$0.78-138.8%	$0.03-95.7%	$0.59+118.5%	$0.80+370.6%	$2.01+1057.1%
Diluted Shares (Avg)	29M0.0%	29M0.0%	N/A	29M0.0%	29M0.0%	29M0.0%	N/A	29M+98275762.1%

Not reported in any period shown, so not listed: R&D Expenses.

VHI Balance Sheet

VHI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.6B-6.0%	$2.8B+2.3%	$2.7B-3.5%	$2.8B-5.6%	$3.0B+4.0%	$2.9B+3.4%	$2.8B+3.1%	$2.7B-6.8%	$2.9B+19.0%	$2.4B-3.7%	$2.5B-13.8%	$2.9B-0.2%	$3.0B-6.9%	$3.2B+11.7%	$2.8B
Current Assets	$1.3B-13.4%	$1.5B-1.5%	$1.5B-7.2%	$1.6B-5.0%	$1.7B+15.1%	$1.5B+2.0%	$1.4B+1.2%	$1.4B+11.6%	$1.3B+50.7%	$837.4M-6.6%	$896.2M-14.5%	$1.0B+10.5%	$949.0M-30.4%	$1.4B+44.4%	$944.2M
Cash & Equivalents	$214.0M-38.6%	$348.3M-14.4%	$407.0M-14.9%	$478.5M-31.5%	$698.4M+34.7%	$518.6M-1.0%	$523.8M+4.8%	$499.8M+14.7%	$435.7M+172.8%	$159.7M-21.1%	$202.3M-20.9%	$255.8M+79.1%	$142.8M-61.1%	$366.9M+280.6%	$96.4M
Short-Term Investments	$2.9M+52.6%	$1.9M-96.6%	$56.1M-25.3%	$75.1M+2788.5%	$2.6M-40.9%	$4.4M+109.5%	$2.1M-16.0%	$2.5M-16.7%	$3.0M-31.8%	$4.4M+120.0%	$2.0M-25.9%	$2.7M-28.9%	$3.8M+322.2%	$900K-96.0%	$22.5M
Inventory	$659.8M-3.8%	$685.8M+15.0%	$596.1M-7.0%	$640.8M+39.7%	$458.7M-14.8%	$538.2M+3.1%	$522.1M+1.2%	$515.8M+29.5%	$398.4M+10.9%	$359.2M-11.4%	$405.2M-8.5%	$443.0M+2.9%	$430.6M-33.8%	$650.3M+40.0%	$464.5M
Long-Term Investments	$6.1M+7.0%	$5.7M+18.8%	$4.8M+300.0%	$1.2M-63.6%	$3.3M+13.8%	$2.9M-53.2%	$6.2M+29.2%	$4.8M-98.1%	$255.7M+0.9%	$253.5M-0.5%	$254.9M-0.3%	$255.6M+0.9%	$253.3M-1.4%	$256.8M-27.5%	$354.1M
Goodwill	$382.3M0.0%	$382.3M+0.7%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M0.0%	$379.7M-5.1%	$400.1M
Total Liabilities	$1.6B-8.8%	$1.8B-1.3%	$1.8B-4.8%	$1.9B-13.7%	$2.2B-1.4%	$2.2B+2.4%	$2.2B+3.9%	$2.1B-16.5%	$2.5B+10.7%	$2.2B-1.2%	$2.3B-8.1%	$2.5B+5.0%	$2.4B-3.5%	$2.4B+11.7%	$2.2B
Current Liabilities	$449.3M-30.2%	$643.8M+27.0%	$507.1M+2.9%	$492.8M+6.3%	$463.5M+45.7%	$318.1M-1.4%	$322.5M-8.1%	$351.0M+6.0%	$331.1M+12.6%	$294.1M+2.6%	$286.6M-12.4%	$327.3M-17.1%	$394.7M-1.0%	$398.5M-4.1%	$415.6M
Non-Current Liabilities	$819.3M+5.4%	$777.3M-18.5%	$953.7M-8.0%	$1.0B-25.1%	$1.4B-11.6%	$1.6B+4.9%	$1.5B+8.9%	$1.4B-24.3%	$1.8B+6.2%	$1.7B-1.1%	$1.7B-4.4%	$1.8B+14.2%	$1.6B-6.0%	$1.7B+17.6%	$1.4B
Long-Term Debt	$590.9M+22.0%	$484.4M-11.2%	$545.8M-2.1%	$557.7M-14.2%	$649.9M-17.3%	$786.2M-0.4%	$789.4M-1.0%	$797.5M-23.4%	$1.0B+17.1%	$889.3M-6.5%	$951.0M+3.4%	$919.7M+24.0%	$741.8M-15.8%	$880.5M+22.7%	$717.4M
Total Equity	$1.0B-1.2%	$1.0B+9.0%	$950.5M-0.8%	$958.6M+15.6%	$829.5M+21.5%	$682.5M+6.6%	$640.0M+0.7%	$635.4M+49.7%	$424.4M+111.2%	$200.9M-25.2%	$268.7M-43.7%	$477.6M-20.6%	$601.3M-18.0%	$733.6M+11.6%	$657.2M
Retained Earnings	$508.0M-11.6%	$574.7M+20.8%	$475.8M-1.3%	$482.3M+20.2%	$401.1M+41.8%	$282.9M+18.2%	$239.4M+8.7%	$220.3M+1330.7%	-$17.9M+91.0%	-$198.5M-27.6%	-$155.6M-3275.5%	$4.9M+112.4%	-$39.6M-152.5%	$75.4M+488.7%	-$19.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$2.6B-6.8%	$2.6B-5.3%	$2.6B-6.0%	$2.7B-2.6%	$2.8B+9.1%	$2.8B+7.8%	$2.8B+2.3%	$2.8B+6.9%
Current Assets	$1.2B-11.0%	$1.3B-11.1%	$1.3B-13.4%	$1.3B-4.6%	$1.4B+3.3%	$1.4B+6.1%	$1.5B-1.5%	$1.4B+2.6%
Cash & Equivalents	$209.7M+11.2%	$193.7M-0.4%	$214.0M-38.6%	$183.5M-41.7%	$188.5M-49.5%	$194.5M-43.0%	$348.3M-14.4%	$314.6M-8.1%
Short-Term Investments	$2.7M+12.5%	$2.2M+15.8%	$2.9M+52.6%	$3.1M+47.6%	$2.4M-82.6%	$1.9M-94.0%	$1.9M-96.6%	$2.1M-97.5%
Inventory	$530.9M-26.0%	$580.1M-20.5%	$659.8M-3.8%	$690.9M+19.7%	$717.2M+50.9%	$729.7M+44.8%	$685.8M+15.0%	$577.4M+8.4%
Long-Term Investments	$6.5M+38.3%	$5.6M+7.7%	$6.1M+7.0%	$5.8M+9.4%	$4.7M-11.3%	$5.2M-5.5%	$5.7M+18.8%	$5.3M+65.6%
Goodwill	$382.3M0.0%	$382.3M0.0%	$382.3M0.0%	$382.3M0.0%	$382.3M+0.7%	$382.3M+0.7%	$382.3M+0.7%	$382.3M+0.7%
Total Liabilities	$1.5B-9.5%	$1.6B-6.5%	$1.6B-8.8%	$1.7B-5.5%	$1.7B+7.7%	$1.7B+3.9%	$1.8B-1.3%	$1.8B+5.4%
Current Liabilities	$361.2M-25.2%	$386.0M-27.0%	$449.3M-30.2%	$369.0M-26.7%	$483.1M+27.5%	$528.6M+37.2%	$643.8M+27.0%	$503.7M+24.9%
Non-Current Liabilities	$814.2M-4.2%	$853.3M+4.7%	$819.3M+5.4%	$945.8M+3.2%	$849.7M-2.1%	$815.3M-11.7%	$777.3M-18.5%	$916.9M-2.2%
Long-Term Debt	$586.7M+7.7%	$624.5M+18.7%	$590.9M+22.0%	$661.5M+25.6%	$544.8M+9.5%	$525.9M+2.9%	$484.4M-11.2%	$526.6M-1.0%
Total Equity	$1.0B-2.5%	$1.0B-3.5%	$1.0B-1.2%	$1.0B+2.4%	$1.1B+11.3%	$1.1B+14.5%	$1.0B+9.0%	$1.0B+9.7%
Retained Earnings	$527.8M-10.2%	$507.7M-13.8%	$508.0M-11.6%	$563.5M+1.7%	$588.0M+17.8%	$589.3M+26.3%	$574.7M+20.8%	$554.2M+20.6%

Not reported in any period shown, so not listed: Accounts Receivable.

VHI Cash Flow Statement

VHI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$111.7M	-$35.5M-180.7%	$44.0M+1028.2%	$3.9M-88.8%	$34.9M-92.4%	$459.7M+202.0%	$152.2M-14.1%	$177.2M+7.1%	$165.5M-36.2%	$259.3M+224.9%	$79.8M+261.1%	$22.1M-67.2%	$67.3M-42.5%	$117.1M+62.9%	$71.9M-75.4%	$292.4M
Depreciation & Amortization	N/A	$66.4M-0.4%	$66.7M+23.3%	$54.1M-7.5%	$58.5M-1.3%	$59.3M-13.4%	$68.5M+20.6%	$56.8M-2.7%	$58.4M-1.0%	$59.0M-12.6%	$67.5M-3.4%	$69.9M-10.8%	$78.4M+5.2%	$74.5M+7.3%	$69.4M+8.8%	$63.8M
Capital Expenditures	$49.0M	$46.6M+50.8%	$30.9M-36.3%	$48.5M-28.3%	$67.6M+5.5%	$64.1M-2.1%	$65.5M+9.3%	$59.9M-2.4%	$61.4M-13.9%	$71.3M+21.1%	$58.9M+7.9%	$54.6M-24.9%	$72.7M-2.5%	$74.6M-24.5%	$98.8M-32.4%	$146.2M
Free Cash Flow	$62.7M	-$82.1M-726.7%	$13.1M+129.4%	-$44.6M-36.4%	-$32.7M-108.3%	$395.6M+356.3%	$86.7M-26.1%	$117.3M+12.7%	$104.1M-44.6%	$188.0M+799.5%	$20.9M+164.3%	-$32.5M-501.9%	-$5.4M-112.7%	$42.5M+258.0%	-$26.9M-118.4%	$146.2M
Investing Cash Flow	-$44.3M	-$47.8M+61.8%	-$125.0M-331.0%	-$29.0M+80.2%	-$146.7M-292.2%	-$37.4M+34.4%	-$57.0M-12.4%	-$50.7M+11.1%	-$57.0M+23.4%	-$74.4M-20.8%	-$61.6M	N/A	-$55.1M+2.0%	-$56.2M-155.7%	$100.9M+145.7%	-$220.9M
Financing Cash Flow	-$68.0M	-$71.1M-2991.3%	-$2.3M+97.0%	-$75.9M+33.4%	-$114.0M+39.7%	-$189.1M-54.4%	-$122.5M-91.1%	-$64.1M-7.2%	-$59.8M-163.9%	$93.6M+305.7%	-$45.5M	N/A	$110.2M+138.5%	-$286.2M-398.1%	$96.0M+132.0%	-$299.8M
Dividends Paid	$9.1M	$9.1M0.0%	$9.1M0.0%	$9.1M+1.1%	$9.0M0.0%	$9.0M-33.8%	$13.6M-49.8%	$27.1M0.0%	$27.1M-0.4%	$27.2M+0.4%	$27.1M0.0%	$27.1M-27.3%	$37.3M-45.1%	$67.9M+4.5%	$65.0M+21.0%	$53.7M
Share Buybacks	N/A	N/A	N/A	$2.9M-27.5%	$4.0M+166.7%	$1.5M+50.0%	$1.0M-67.7%	$3.1M	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$9.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$59.1M+172.4%	-$46.1M+70.4%	$100.6M+119.7%	-$1.9M-114.1%	$21.7M-35.2%	-$155.9M-219.5%	$45.8M-29.6%	$13.5M-60.2%
Depreciation & Amortization	$17.1M+3.6%	$16.9M+9.7%	$17.4M+12.3%	$17.1M-9.0%	$16.5M-17.1%	$15.4M+23.2%	$15.5M+15.7%	$18.8M+40.3%
Capital Expenditures	$17.2M+36.5%	$10.6M-17.2%	$10.8M-13.6%	$10.4M+8.3%	$12.6M+231.6%	$12.8M+156.0%	$12.5M+115.5%	$9.6M+15.7%
Free Cash Flow	$41.9M+360.4%	-$56.7M+66.4%	$89.8M+169.7%	-$12.3M-415.4%	$9.1M-69.4%	-$168.7M-213.6%	$33.3M-43.8%	$3.9M-84.8%
Investing Cash Flow	-$11.7M+5.6%	-$9.5M+22.8%	-$11.0M-48.6%	-$12.1M+92.0%	-$12.4M-185.5%	-$12.3M-163.1%	-$7.4M-138.7%	-$151.6M-1862.8%
Financing Cash Flow	-$40.1M-94.7%	$42.5M+113.6%	-$85.2M-317.6%	$14.8M-79.2%	-$20.6M+2.8%	$19.9M+162.2%	-$20.4M+10.1%	$71.3M+532.1%
Dividends Paid	$2.2M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%	$2.2M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0

Not reported in any period shown, so not listed: Stock-Based Compensation.

VHI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VHI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	14.2%-5.9pp	20.2%+7.4pp	12.8%-9.3pp	22.1%-3.2pp	25.3%+3.0pp	22.3%-0.6pp	22.9%-10.6pp	33.5%+0.9pp	32.6%+12.3pp	20.3%+4.9pp	15.3%-6.3pp	21.6%+14.4pp	7.2%-20.4pp	27.6%-9.3pp	36.9%
Operating Margin	3.0%-7.0pp	10.0%+8.2pp	1.8%-9.0pp	10.8%-3.1pp	13.9%+3.8pp	10.1%-0.1pp	10.2%-10.2pp	20.4%+0.1pp	20.2%+12.4pp	7.8%+6.4pp	1.4%-7.7pp	9.1%+16.6pp	-7.4%-24.0pp	16.6%-9.2pp	25.8%
Net Margin	-2.8%-7.9pp	5.1%+5.6pp	-0.5%-4.4pp	3.9%-1.6pp	5.5%+2.6pp	3.0%+0.4pp	2.6%-11.8pp	14.4%+3.4pp	11.0%+12.1pp	-1.1%+7.9pp	-9.0%-11.9pp	2.9%+8.2pp	-5.3%-12.9pp	7.7%-3.1pp	10.7%
Return on Equity	-5.6%-16.1pp	10.4%+11.5pp	-1.0%-10.1pp	9.1%-6.2pp	15.3%+7.2pp	8.1%+0.4pp	7.7%-33.6pp	41.3%-7.6pp	48.9%+56.8pp	-7.9%+41.8pp	-49.7%-61.0pp	11.3%+27.6pp	-16.3%-38.1pp	21.8%-11.3pp	33.1%
Return on Assets	-2.2%-6.0pp	3.9%+4.2pp	-0.4%-3.4pp	3.1%-1.1pp	4.2%+2.3pp	1.9%+0.1pp	1.8%-7.9pp	9.7%+2.5pp	7.1%+7.8pp	-0.7%+4.6pp	-5.3%-7.1pp	1.8%+5.2pp	-3.3%-8.4pp	5.0%-2.6pp	7.7%
Current Ratio	2.80+0.5x	2.26-0.7x	2.91-0.3x	3.23-0.4x	3.61-1.0x	4.57+0.1x	4.42+0.4x	4.01+0.2x	3.81+1.0x	2.85-0.3x	3.13-0.1x	3.20+0.8x	2.40-1.0x	3.42+1.1x	2.27
Debt-to-Equity	0.58+0.1x	0.47-0.1x	0.570.0x	0.58-0.2x	0.78-0.4x	1.15-0.1x	1.230.0x	1.26-1.2x	2.45-2.0x	4.43+0.9x	3.54+1.6x	1.93+0.7x	1.230.0x	1.20+0.1x	1.09
Asset Turnover	0.790.0x	0.750.0x	0.70-0.1x	0.780.0x	0.76+0.1x	0.640.0x	0.680.0x	0.670.0x	0.650.0x	0.620.0x	0.590.0x	0.630.0x	0.630.0x	0.66-0.1x	0.71
FCF Margin	-4.0%-4.6pp	0.6%+2.9pp	-2.3%-0.8pp	-1.5%-18.7pp	17.2%+12.5pp	4.7%-1.5pp	6.2%+0.5pp	5.7%-4.3pp	10.0%+8.6pp	1.4%+3.6pp	-2.2%-1.9pp	-0.3%-2.6pp	2.3%+3.6pp	-1.3%-8.5pp	7.2%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	19.8%+5.4pp	18.4%-4.3pp	6.9%-14.0pp	12.0%-9.8pp	14.4%-7.2pp	22.7%+6.5pp	20.9%+6.6pp	21.8%+8.9pp
Operating Margin	11.2%+4.6pp	5.9%-3.4pp	-6.3%-18.0pp	1.7%-11.0pp	6.6%-3.2pp	9.3%+3.4pp	11.8%+8.0pp	12.7%+12.2pp
Net Margin	3.7%+3.5pp	0.4%-2.8pp	-10.8%-15.5pp	-4.4%-15.2pp	0.2%-3.4pp	3.1%+1.7pp	4.7%+3.9pp	10.8%+12.0pp
Return on Equity	2.1%+2.1pp	0.2%-1.4pp	-5.2%-7.4pp	-2.1%-7.7pp	0.1%-2.0pp	1.6%+0.8pp	2.2%+1.8pp	5.6%+6.2pp
Return on Assets	0.9%+0.8pp	0.1%-0.5pp	-2.0%-2.8pp	-0.8%-2.9pp	0.0%-0.8pp	0.6%+0.3pp	0.8%+0.7pp	2.1%+2.3pp
Current Ratio	3.37+0.5x	3.25+0.6x	2.80+0.5x	3.64+0.8x	2.83-0.7x	2.67-0.8x	2.26-0.7x	2.79-0.6x
Debt-to-Equity	0.56+0.1x	0.61+0.1x	0.58+0.1x	0.63+0.1x	0.510.0x	0.49-0.1x	0.47-0.1x	0.52-0.1x
Asset Turnover	0.240.0x	0.210.0x	0.190.0x	0.190.0x	0.200.0x	0.200.0x	0.170.0x	0.190.0x
FCF Margin	6.9%+5.2pp	-10.1%+21.2pp	18.2%+11.2pp	-2.4%-3.2pp	1.7%-3.6pp	-31.3%-21.2pp	6.9%-6.2pp	0.7%-4.7pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Valhi, Inc. VHI	FY2025	$2.1B	-$57.6M	-2.8%	$405.0M	44/100
AdvanSix Inc. ASIX	FY2025	$1.5B	$49.3M	3.2%	$438.5M	21/100
Rayonier Advanced Materials Inc. RYAM	FY2025	$1.5B	-$420.7M	-28.7%	$474.9M	20/100
LSB INDUSTRIES INC LXU	FY2025	$615.2M	$24.6M	4.0%	$706.3M	44/100
TRONOX LIMITED CL A TROX	FY2025	$2.9B	-$470.0M	-16.2%	$579.7M	30/100
WESTLAKE CHEMICAL PARTNERS LP WLKP	FY2025	$1.2B	$48.7M	4.2%	$746.9M	73/100

Where Valhi, Inc. Ranks

Frequently Asked Questions

What is Valhi, Inc.'s annual revenue?

Valhi, Inc. (VHI) reported $2.1B in total revenue for fiscal year 2025. This represents a -1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Valhi, Inc.'s revenue growing?

Valhi, Inc. (VHI) revenue declined by 1.3% year-over-year, from $2.1B to $2.1B in fiscal year 2025.

Is Valhi, Inc. profitable?

No, Valhi, Inc. (VHI) reported a net income of -$57.6M in fiscal year 2025, with a net profit margin of -2.8%.

What is Valhi, Inc.'s EBITDA?

Valhi, Inc. (VHI) had EBITDA of $129.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Valhi, Inc. have?

As of fiscal year 2025, Valhi, Inc. (VHI) had $214.0M in cash and equivalents against $590.9M in long-term debt.

What is Valhi, Inc.'s gross margin?

Valhi, Inc. (VHI) had a gross margin of 14.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Valhi, Inc.'s operating margin?

Valhi, Inc. (VHI) had an operating margin of 3.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Valhi, Inc.'s net profit margin?

Valhi, Inc. (VHI) had a net profit margin of -2.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Valhi, Inc. pay dividends?

Yes, Valhi, Inc. (VHI) paid $0.32 per share in dividends during fiscal year 2025.

What is Valhi, Inc.'s return on equity (ROE)?

Valhi, Inc. (VHI) has a return on equity of -5.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Valhi, Inc.'s free cash flow?

Valhi, Inc. (VHI) recorded an outflow of $82.1M in free cash flow during fiscal year 2025. This represents a -726.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Valhi, Inc.'s operating cash flow?

Valhi, Inc. (VHI) recorded an outflow of $35.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Valhi, Inc.'s total assets?

Valhi, Inc. (VHI) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Valhi, Inc.'s capital expenditures?

Valhi, Inc. (VHI) invested $46.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Valhi, Inc. spend on research and development?

Valhi, Inc. (VHI) invested $17.0M in research and development during fiscal year 2025.

How many shares does Valhi, Inc. have outstanding?

Valhi, Inc. (VHI) had 28M shares outstanding as of fiscal year 2025.

What is Valhi, Inc.'s current ratio?

Valhi, Inc. (VHI) had a current ratio of 2.80 as of fiscal year 2025, which is generally considered healthy.

What is Valhi, Inc.'s debt-to-equity ratio?

Valhi, Inc. (VHI) had a debt-to-equity ratio of 0.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Valhi, Inc.'s return on assets (ROA)?

Valhi, Inc. (VHI) had a return on assets of -2.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Valhi, Inc.'s P/E ratio?

Valhi, Inc. (VHI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $405.0M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Valhi, Inc.'s price-to-sales ratio?

Valhi, Inc. (VHI) trades at 0.2x sales, its market capitalization divided by revenue of $2.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $405.0M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Valhi, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Valhi, Inc. (VHI) held $223.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $35.5M over that year. Dividing the one by the other, the reported balance equals about 75 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Valhi, Inc.'s Altman Z-Score?

Valhi, Inc. (VHI) has an Altman Z-Score of 1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Valhi, Inc.'s Piotroski F-Score?

Valhi, Inc. (VHI) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Valhi, Inc.'s earnings high quality?

Valhi, Inc. (VHI) reported a net loss of $57.6M while operations used $35.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Valhi, Inc. cover its interest payments?

Valhi, Inc. (VHI) has an interest coverage ratio of 1.11x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Valhi, Inc.?

Valhi, Inc. (VHI) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.