VHINYSEIndustrial Inorganic ChemicalsFiscal year ends December 31
VALHI INC /DE/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$14.24−0.44 (-3.00%)
Close on Oct 19, 2026
- Market cap
- $405.84M
- P/E (TTM)
- –
- Dividend yield
- 2.25%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
14.2%−8.1 pts over 5 years
Operating margin
3.0%−7.0 pts over 5 years
Net margin
-2.8%−5.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.3% | -2.2% | +2.3% | +3.4% | |
| Gross profit | -30.4% | -15.5% | -6.4% | +2.6% | |
| Operating income | -70.0% | -35.8% | -19.4% | +11.6% | |
| Dividend per share | 0.0% | 0.0% | -7.8% | -10.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.8% | 8.3% | -5.6% | |
| Return on assets | -0.6% | 1.9% | -2.1% | |
| Current ratio | 2.85 | 4.57 | 2.80 | |
| Debt to equity | 4.45 | 1.16 | 0.58 | |
| Net debt to EBITDA | 3.73× | 1.06× | 2.91× | |
| Interest coverage | 2.1× | 5.1× | 1.1× | |
| Inventory turnover | 3.2× | 2.7× | 2.6× | |
| Capex to revenue | 3.9% | 3.5% | 2.2% | |
| Diluted shares | 29M | 29M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Valhi generated $578.00M from operations and spent $311.40M on capital expenditure, dividends and share buybacks. 83% of that went back into the business.
Generated
$578.00M
Used
$311.40M
Capital expenditure$257.70M83%Dividends$45.30M15%Share buybacks$8.40M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.8%
×Asset turnover0.76×
×Equity multiplier2.64×
=Return on equity, FY2025-5.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.8% | 0.76× | 2.64× | -5.6% |
| FY2024 | 5.1% | 0.76× | 2.79× | 10.9% |
| FY2023 | -0.5% | 0.69× | 2.92× | -1.0% |
| FY2022 | 3.9% | 0.76× | 3.27× | 9.8% |
| FY2021 | 5.5% | 0.78× | 3.90× | 16.8% |
| FY2020 | 3.0% | 0.65× | 4.30× | 8.3% |
| FY2019 | 2.6% | 0.69× | 4.32× | 7.7% |
| FY2018 | 14.4% | 0.65× | 5.30× | 49.5% |
| FY2017 | 11.0% | 0.70× | 8.56× | 66.4% |
| FY2016 | -1.0% | 0.61× | 10.61× | -6.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$57.60M
- Cash generatingOperating cash flow above zero-$35.50M
- Return on assets improvedROA up on the prior year3.9% → -2.1%
- Earnings backed by cashOperating cash flow above net income-$35.50M vs -$57.60M
- Less leverageLong-term debt to assets fell17.3% → 22.4%
- Better liquidityCurrent ratio rose2.26 → 2.80
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year20.17% → 14.22%
- More efficientAsset turnover rose0.77 → 0.74