VHI · Valhi Inc /De/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.08B | $2.10B | $1.92B | $2.22B | $2.30B | $1.85B |
| Cost of Revenue | $1.78B | $1.68B | $1.68B | $1.73B | $1.72B | $1.44B |
| Gross Profit | $295.40M | $424.50M | $245.20M | $490.40M | $580.20M | $412.10M |
| R&D | $17.00M | $14.00M | $18.00M | $16.00M | $17.00M | $16.00M |
| SG&A | $312.30M | $256.20M | $277.40M | $304.00M | $311.90M | $283.60M |
| Total Operating Expenses | $2.18B | $1.92B | $2.00B | $2.10B | $2.08B | $1.78B |
| D&A | $66.40M | $66.70M | $54.10M | $58.50M | $59.30M | $68.50M |
| Operating Income | $63.30M | $210.70M | $34.20M | $239.40M | $318.60M | $186.10M |
| Interest Expense | $57.10M | $49.90M | $28.30M | $27.90M | $32.50M | $36.20M |
| Income Tax | $11.90M | $82.90M | ($22.40M) | $33.80M | $60.10M | $15.90M |
| Net Income | ($57.60M) | $108.00M | ($12.10M) | $90.20M | $127.20M | $55.20M |
| EPS - Basic | ($2.02) | $3.79 | ($0.42) | $3.16 | $1.94 | - |
| EPS - Diluted | ($2.02) | $3.79 | ($0.42) | $3.16 | $1.94 | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $214.00M | $348.30M | $407.00M | $478.50M | $698.40M | $518.60M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | $659.80M | $685.80M | $596.10M | $640.80M | $458.70M | $538.20M |
| Accounts Payable | $231.30M | $250.00M | $228.50M | $199.40M | $152.70M | $117.60M |
| Current Assets | $1.26B | $1.45B | $1.48B | $1.59B | $1.67B | $1.45B |
| Total Assets | $2.63B | $2.80B | $2.74B | $2.84B | $3.01B | $2.89B |
| Current Liabilities | $449.30M | $643.80M | $507.10M | $492.80M | $463.50M | $318.10M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $1.02B | $1.04B | $935.80M | $958.60M | $829.50M | $682.50M |
| Retained Earnings | $508.00M | $574.70M | $461.10M | $482.30M | $401.10M | $282.90M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($35.50M) | $44.00M | $3.90M | $34.90M | $459.70M | $152.20M |
| Investing Cash Flow | ($47.80M) | ($125.00M) | ($29.00M) | ($146.70M) | ($37.40M) | ($57.00M) |
| Financing Cash Flow | ($71.10M) | ($2.30M) | ($75.90M) | ($114.00M) | ($189.10M) | ($122.50M) |
| CapEx | $46.60M | $30.90M | $48.50M | $67.60M | $64.10M | $65.50M |
| Free Cash Flow | ($82.10M) | $13.10M | ($44.60M) | ($32.70M) | $395.60M | $86.70M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 14.2% | 20.2% | 12.8% | 22.1% | 25.3% | 22.3% |
| Operating margin | 3.0% | 10.0% | 1.8% | 10.8% | 13.9% | 10.1% |
| EBITDA margin | 6.2% | 13.2% | 4.6% | 13.4% | 16.5% | 13.8% |
| Net margin | -2.8% | 5.1% | -0.6% | 4.1% | 5.5% | 3.0% |
| Free cash flow margin | -4.0% | 0.6% | -2.3% | -1.5% | 17.2% | 4.7% |
| FCF / Net income | 1.43 | 0.12 | 3.69 | -0.36 | 3.11 | 1.57 |
| R&D / Revenue | 0.8% | 0.7% | 0.9% | 0.7% | 0.7% | 0.9% |
| SG&A / Revenue | 15.0% | 12.2% | 14.4% | 13.7% | 13.6% | 15.3% |
| Effective tax rate | - | 43.4% | - | 27.3% | 32.1% | 22.4% |
| Return on assets | -2.2% | 3.9% | -0.4% | 3.2% | 4.2% | 1.9% |
| Return on equity | -5.6% | 10.4% | -1.3% | 9.4% | 15.3% | 8.1% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.80 | 2.26 | 2.91 | 3.23 | 3.61 | 4.57 |
| Quick ratio | 1.33 | 1.19 | 1.73 | 1.93 | 2.62 | 2.88 |
| Cash ratio | 0.48 | 0.54 | 0.80 | 0.97 | 1.51 | 1.63 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 1.1x | 4.2x | 1.2x | 8.6x | 9.8x | 5.1x |
| Equity multiplier | 2.57 | 2.70 | 2.92 | 2.96 | 3.62 | 4.23 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.79 | 0.75 | 0.70 | 0.78 | 0.76 | 0.64 |
| Inventory turnover | 2.70 | 2.45 | 2.81 | 2.70 | 3.74 | 2.67 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 135d | 149d | 130d | 135d | 98d | 137d |
| Days payable outstanding | 47d | 54d | 50d | 42d | 32d | 30d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | 6.2x | - | 7.0x | 14.8x | - |
| P / B | 0.0x | 0.0x | 0.5x | 0.7x | 1.0x | - |
| P / S | 0.0x | 0.0x | 0.2x | 0.3x | 0.4x | - |
| EV / EBITDA | -1.6x | -1.3x | 0.3x | 0.5x | 0.3x | - |
| Growth | ||||||
| Revenue growth (YoY) | -1.3% | 9.5% | -13.5% | -3.2% | 24.1% | -2.5% |
| Revenue CAGR (3y) | -2.2% | -2.9% | 1.3% | 5.4% | 14.8% | -0.5% |
| Revenue CAGR (5y) | 2.3% | 2.1% | 4.8% | 3.4% | 7.9% | 3.8% |
| Gross profit growth (YoY) | -30.4% | 73.1% | -50.0% | -15.5% | 40.8% | -5.2% |
| Operating income growth (YoY) | -70.0% | 516.1% | -85.7% | -24.9% | 71.2% | -3.4% |
| Net income growth (YoY) | - | - | - | -29.1% | 130.4% | 12.2% |
| EPS growth (YoY) | - | - | - | 62.9% | - | - |
| EPS CAGR (3y) | - | 25.0% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -36.4% | - | 356.3% | -26.1% |
| FCF CAGR (5y) | - | -35.5% | - | - | 80.1% | - |
| Book value growth (YoY) | -1.2% | 10.7% | -2.4% | 15.6% | 21.5% | 6.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.08B totalChemicals$1.86B · 89.5%
Component Products$158.30M · 7.6%
Real Estate Management And Development$59.30M · 2.9%
Product / service
$158.30M totalSecurity Products$120.70M · 76.2%
Marine Components$37.60M · 23.8%
Geographic
$5.37B totalUS$1.39B · 25.9%
North America$929.00M · 17.3%
Europe$861.80M · 16.1%
DE$839.10M · 15.6%
CA$289.30M · 5.4%
Asia And Other$286.20M · 5.3%
Other$285.10M · 5.3%
NO$250.30M · 4.7%
BE$236.70M · 4.4%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Industrial Inorganic Chemicals
Comparing VALHI INC /DE/ against the 5 most active filers in the same SIC group.
Dividends
$0.32/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 16, 2026 | $0.0800 |
| Nov 21, 2025 | $0.0800 |
| Sep 5, 2025 | $0.0800 |
| Jun 9, 2025 | $0.0800 |
| Mar 17, 2025 | $0.0800 |
| Nov 29, 2024 | $0.0800 |
| Sep 6, 2024 | $0.0800 |
| Jun 10, 2024 | $0.0800 |
| Mar 8, 2024 | $0.0800 |
| Nov 30, 2023 | $0.0800 |
| Aug 31, 2023 | $0.0800 |
| Jun 2, 2023 | $0.0800 |
| Mar 10, 2023 | $0.0800 |
| Nov 30, 2022 | $0.0800 |
| Aug 31, 2022 | $0.0800 |
| Jun 3, 2022 | $0.0800 |
| Mar 11, 2022 | $0.0800 |
| Dec 1, 2021 | $0.0800 |
| Sep 1, 2021 | $0.0800 |
| Jun 4, 2021 | $0.0800 |
| Mar 12, 2021 | $0.0800 |
| Nov 30, 2020 | $0.0800 |
| Aug 31, 2020 | $0.0800 |
| Jun 15, 2020 | $0.0800 |