Valhi (VHI) Financials

$15.59 +0.22 (+1.41%)

Closing price 03:59 PM Eastern

Extended Trading

$15.67 +0.08 (+0.54%)

As of 07:05 PM Eastern

Annual Income Statements for Valhi

This table shows Valhi's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	108	-9.90	87
Consolidated Net Income / (Loss)	161	5.10	133
Net Income / (Loss) Continuing Operations	161	5.10	133
Total Pre-Tax Income	244	-20	170
Total Operating Income	230	8.80	198
Total Gross Profit	486	301	534
Total Revenue	2,167	1,977	2,266
Operating Revenue	2,105	1,922	2,223
Other Revenue	62	55	44
Total Cost of Revenue	1,680	1,677	1,732
Operating Cost of Revenue	1,680	1,677	1,732
Total Operating Expenses	257	292	336
Selling, General & Admin Expense	256	277	304
Other Operating Expenses / (Income)	0.50	14	16
Impairment Charge	0.00	0.00	16
Total Other Income / (Expense), net	15	-28	-28
Interest Expense	50	28	28
Other Income / (Expense), net	65	0.00	0.00
Income Tax Expense	83	-25	37
Net Income / (Loss) Attributable to Noncontrolling Interest	53	15	46
Basic Earnings per Share	$3.79	($0.35)	$3.06
Weighted Average Basic Shares Outstanding	28.50M	28.50M	28.50M
Diluted Earnings per Share	$3.79	($0.35)	$3.06
Weighted Average Diluted Shares Outstanding	28.50M	28.50M	28.50M
Weighted Average Basic & Diluted Shares Outstanding	28.29M	28.29M	28.28M
Cash Dividends to Common per Share	$0.32	$0.32	$0.32

This table shows Valhi's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	23	58	20	7.80	4.00	-5.80	-3.20	-4.90	-12	26
Consolidated Net Income / (Loss)	32	86	30	14	11	-1.70	-0.30	-3.70	-14	41
Net Income / (Loss) Continuing Operations	32	86	30	14	11	-1.70	-0.30	-3.70	-14	41
Total Pre-Tax Income	69	120	38	18	6.90	-9.50	-7.10	-9.80	-19	49
Total Operating Income	105	69	38	18	28	-2.30	-7.10	-9.80	7.10	51
Total Gross Profit	121	142	125	99	89	68	76	67	58	144
Total Revenue	502	559	563	543	477	476	518	506	408	579
Operating Revenue	481	534	560	531	453	469	507	493	403	556
Other Revenue	21	25	3.70	12	24	7.50	11	13	5.60	23
Total Cost of Revenue	380	417	438	444	388	408	442	439	350	436
Operating Cost of Revenue	380	417	438	444	388	408	442	439	350	436
Total Operating Expenses	16	73	87	81	61	70	83	77	51	93
Selling, General & Admin Expense	39	74	75	69	71	69	68	69	66	82
Other Operating Expenses / (Income)	-22	-1.50	13	12	-9.80	1.30	15	8.20	-15	10
Total Other Income / (Expense), net	-37	51	0.00	0.00	-21	-7.20	0.00	0.00	-26	-2.00
Income Tax Expense	36	34	7.90	4.40	-3.90	-7.80	-6.80	-6.10	-5.30	8.20
Net Income / (Loss) Attributable to Noncontrolling Interest	9.60	28	9.80	5.80	6.80	4.10	2.90	1.20	-1.10	15
Basic Earnings per Share	$0.81	$2.01	$0.70	$0.27	$0.14	($0.21)	($0.11)	($0.17)	($0.43)	$0.92
Weighted Average Basic Shares Outstanding	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M
Diluted Earnings per Share	$0.81	$2.01	$0.70	$0.27	$0.14	($0.21)	($0.11)	($0.17)	($0.43)	$0.92
Weighted Average Diluted Shares Outstanding	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M
Weighted Average Basic & Diluted Shares Outstanding	28.29M	28.29M	28.29M	28.29M	28.29M	28.29M	28.29M	28.28M	28.28M	28.28M

This table details how cash moves in and out of Valhi's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-83	-101	-226
Net Cash From Operating Activities	44	3.90	35
Net Cash From Continuing Operating Activities	44	3.90	35
Net Income / (Loss) Continuing Operations	161	5.10	133
Consolidated Net Income / (Loss)	161	5.10	133
Depreciation Expense	67	54	59
Amortization Expense	3.10	2.00	2.20
Non-Cash Adjustments To Reconcile Net Income	-71	-16	57
Changes in Operating Assets and Liabilities, net	-116	-41	-216
Net Cash From Investing Activities	-125	-29	-147
Net Cash From Continuing Investing Activities	-125	-29	-147
Purchase of Property, Plant & Equipment	-31	-49	-68
Acquisitions	-157	0.00	0.00
Purchase of Investments	-2.70	-66	-74
Sale and/or Maturity of Investments	63	88	2.90
Other Investing Activities, net	2.80	-1.60	-8.40
Net Cash From Financing Activities	-2.30	-76	-114
Net Cash From Continuing Financing Activities	-2.30	-76	-114
Repayment of Debt	-260	-30	-62
Repurchase of Common Equity	0.00	-2.90	-4.00
Payment of Dividends	-34	-43	-48
Issuance of Debt	293	0.00	0.00
Cash Interest Paid	45	27	26
Cash Income Taxes Paid	42	27	44

This table details how cash moves in and out of Valhi's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	18	-67	27	-61	62	26	-3.40	-185	-112	-63
Net Cash From Operating Activities	46	14	34	-49	65	34	32	-127	7.00	0.10
Net Cash From Continuing Operating Activities	46	14	34	-49	65	34	32	-127	7.00	0.10
Net Income / (Loss) Continuing Operations	32	86	30	14	12	-1.70	-1.20	-3.70	-14	41
Consolidated Net Income / (Loss)	32	86	30	14	12	-1.70	-1.20	-3.70	-14	41
Depreciation Expense	16	19	20	13	13	13	13	14	14	14
Amortization Expense	-2.90	-	-	-	2.00	-	-	-	-	-
Non-Cash Adjustments To Reconcile Net Income	22	-104	-5.50	16	-12	23	-2.50	-25	10	12
Changes in Operating Assets and Liabilities, net	-21	7.10	-11	-91	50	-0.30	22	-113	-5.90	-67
Net Cash From Investing Activities	-7.40	-152	15	20	19	8.60	-15	-42	-89	-24
Net Cash From Continuing Investing Activities	-7.40	-152	15	20	19	8.60	-15	-42	-89	-24
Purchase of Property, Plant & Equipment	-13	-9.60	-3.80	-5.00	-5.80	-8.30	-18	-17	-20	-15
Purchase of Investments	-1.70	-	-	-1.00	-2.70	-12	-18	-34	-70	-1.30
Sale and/or Maturity of Investments	6.80	12	18	26	29	29	21	8.50	0.50	0.50
Net Cash From Financing Activities	-20	71	-21	-32	-23	-17	-20	-16	-30	-39
Net Cash From Continuing Financing Activities	-20	71	-21	-32	-23	-17	-20	-16	-30	-39
Repayment of Debt	-26	-145	-11	-78	-5.40	-7.90	-9.20	-7.40	-15	-26
Payment of Dividends	-4.50	-13	-9.80	-7.60	-17	-8.60	-9.70	-7.50	-14	-13
Issuance of Debt	10	229	-	54	-	-	-	0.00	-	-
Cash Interest Paid	7.90	26	2.30	9.10	2.60	11	2.80	11	2.90	9.90
Cash Income Taxes Paid	0.70	5.40	35	0.80	2.90	1.80	25	-2.40	6.40	7.40

This table presents Valhi's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	2,800	2,737	2,836
Total Current Assets	1,454	1,475	1,590
Cash & Equivalents	348	407	479
Restricted Cash	25	23	46
Short-Term Investments	1.90	56	75
Note & Lease Receivable	0.00	-	-
Accounts Receivable	327	339	274
Inventories, net	686	596	641
Prepaid Expenses	65	53	67
Current Deferred & Refundable Income Taxes	1.30	1.80	8.00
Plant, Property, & Equipment, net	723	517	524
Plant, Property & Equipment, gross	1,787	1,609	1,554
Accumulated Depreciation	1,064	1,091	1,030
Total Noncurrent Assets	623	744	722
Long-Term Investments	5.70	116	114
Goodwill	382	380	380
Noncurrent Deferred & Refundable Income Taxes	54	67	41
Employee Benefit Assets	20	8.10	9.30
Other Noncurrent Operating Assets	162	174	179
Total Liabilities & Shareholders' Equity	2,800	2,737	2,836
Total Liabilities	1,421	1,461	1,529
Total Current Liabilities	644	507	493
Short-Term Debt	79	0.70	1.80
Accounts Payable	250	229	199
Accrued Expenses	259	220	244
Current Deferred & Payable Income Tax Liabilities	23	16	13
Other Current Liabilities	34	42	35
Total Noncurrent Liabilities	777	954	1,036
Long-Term Debt	484	546	558
Asset Retirement Reserve & Litigation Obligation	15	109	121
Noncurrent Deferred Revenue	0.00	19	33
Noncurrent Deferred & Payable Income Tax Liabilities	58	17	64
Noncurrent Employee Benefit Liabilities	118	152	132
Other Noncurrent Operating Liabilities	103	111	129
Total Equity & Noncontrolling Interests	1,379	1,276	1,307
Total Preferred & Common Equity	1,036	951	959
Preferred Stock	0.00	0.00	0.00
Total Common Equity	1,036	951	959
Common Stock	670	670	670
Retained Earnings	575	476	482
Treasury Stock	-50	-50	-50
Accumulated Other Comprehensive Income / (Loss)	-159	-146	-144
Noncontrolling Interest	343	326	348

This table presents Valhi's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	2,787	2,533	2,559	2,607	2,651	2,718	2,844
Total Current Assets	1,406	1,324	1,329	1,370	1,401	1,474	1,629
Cash & Equivalents	315	373	341	342	298	298	579
Restricted Cash	45	22	26	23	44	47	48
Short-Term Investments	2.10	14	32	83	99	101	2.90
Accounts Receivable	395	398	378	333	334	329	386
Inventories, net	577	475	504	533	575	644	546
Prepaid Expenses	73	42	48	56	52	55	67
Plant, Property, & Equipment, net	751	476	494	512	526	528	484
Plant, Property & Equipment, gross	1,876	1,552	1,558	1,561	1,580	1,547	1,429
Accumulated Depreciation	1,125	1,076	1,064	1,049	1,054	1,019	945
Total Noncurrent Assets	630	734	736	724	723	716	731
Long-Term Investments	5.30	107	114	119	125	115	110
Goodwill	382	380	380	380	380	380	380
Noncurrent Deferred & Refundable Income Taxes	69	67	66	66	56	43	66
Other Noncurrent Operating Assets	174	181	176	160	163	178	175
Total Liabilities & Shareholders' Equity	2,787	2,533	2,559	2,607	2,651	2,718	2,844
Total Liabilities	1,421	1,246	1,309	1,341	1,374	1,429	1,620
Total Current Liabilities	504	379	385	403	394	397	488
Short-Term Debt	85	0.80	0.70	1.40	1.40	1.60	2.00
Accounts Payable	401	368	367	393	386	388	479
Current Deferred & Payable Income Tax Liabilities	18	10	18	9.10	6.90	7.60	6.30
Total Noncurrent Liabilities	917	868	924	938	980	1,032	1,132
Long-Term Debt	527	497	511	532	550	560	538
Asset Retirement Reserve & Litigation Obligation	93	93	93	93	93	93	94
Noncurrent Deferred Revenue	0.00	0.00	19	-	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	40	13	30	50	54	64	35
Noncurrent Employee Benefit Liabilities	145	141	145	124	130	132	248
Other Noncurrent Operating Liabilities	112	123	126	119	135	149	184
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,367	1,287	1,250	1,265	1,276	1,289	1,225
Total Preferred & Common Equity	1,023	963	928	932	941	946	891
Preferred Stock	0.00	0.00	0.00	0.00	-	-	-
Total Common Equity	1,023	963	928	932	941	946	891
Common Stock	670	670	670	670	670	669	670
Retained Earnings	554	499	467	460	468	475	494
Treasury Stock	-50	-50	-50	-50	-50	-50	-50
Accumulated Other Comprehensive Income / (Loss)	-152	-157	-159	-148	-147	-148	-224
Noncontrolling Interest	344	324	322	333	336	342	334

This table displays calculated financial ratios and metrics derived from Valhi's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	9.58%	-12.76%	-2.96%
EBITDA Growth	460.71%	-74.89%	-19.22%
EBIT Growth	3,242.05%	-95.55%	-23.27%
NOPAT Growth	2,361.95%	-96.02%	-21.62%
Net Income Growth	3,062.75%	-96.17%	-32.68%
EPS Growth	1,182.86%	-111.44%	-31.39%
Operating Cash Flow Growth	1,028.21%	-88.83%	-92.41%
Free Cash Flow Firm Growth	-201.15%	-25,709.99%	-100.06%
Invested Capital Growth	27.89%	5.98%	15.57%
Revenue Q/Q Growth	1.13%	3.62%	-11.21%
EBITDA Q/Q Growth	85.00%	335.57%	-28.87%
EBIT Q/Q Growth	136.99%	122.00%	-34.93%
NOPAT Q/Q Growth	62.11%	122.00%	-34.49%
Net Income Q/Q Growth	17.31%	131.48%	-43.36%
EPS Q/Q Growth	24.26%	57.32%	-42.48%
Operating Cash Flow Q/Q Growth	-30.49%	107.20%	-88.30%
Free Cash Flow Firm Q/Q Growth	29.54%	71.39%	-100.08%
Invested Capital Q/Q Growth	-3.07%	-2.26%	8.89%
Profitability Metrics	-	-	-
Gross Margin	22.45%	15.20%	23.57%
EBITDA Margin	16.80%	3.28%	11.41%
Operating Margin	10.60%	0.45%	8.73%
EBIT Margin	13.57%	0.45%	8.73%
Profit (Net Income) Margin	7.44%	0.26%	5.87%
Tax Burden Percent	66.05%	-26.15%	78.34%
Interest Burden Percent	83.03%	-221.59%	85.89%
Effective Tax Rate	33.95%	0.00%	21.66%
Return on Invested Capital (ROIC)	10.90%	0.52%	14.42%
ROIC Less NNEP Spread (ROIC-NNEP)	26.00%	1.53%	28.26%
Return on Net Nonoperating Assets (RNNOA)	1.25%	-0.12%	-3.62%
Return on Equity (ROE)	12.15%	0.39%	10.80%
Cash Return on Invested Capital (CROIC)	-13.58%	-5.29%	-0.02%
Operating Return on Assets (OROA)	10.62%	0.32%	6.77%
Return on Assets (ROA)	5.83%	0.18%	4.56%
Return on Common Equity (ROCE)	9.09%	0.29%	7.83%
Return on Equity Simple (ROE_SIMPLE)	15.57%	0.54%	13.88%
Net Operating Profit after Tax (NOPAT)	152	6.16	155
NOPAT Margin	7.00%	0.31%	6.84%
Net Nonoperating Expense Percent (NNEP)	-15.10%	-1.01%	-13.84%
Return On Investment Capital (ROIC_SIMPLE)	7.81%	0.34%	8.30%
Cost of Revenue to Revenue	77.55%	84.80%	76.43%
SG&A Expenses to Revenue	11.83%	14.03%	13.41%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	11.85%	14.76%	14.84%
Earnings before Interest and Taxes (EBIT)	294	8.80	198
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	364	65	259
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.64	0.44	0.63
Price to Tangible Book Value (P/TBV)	1.01	0.74	1.03
Price to Revenue (P/Rev)	0.31	0.21	0.26
Price to Earnings (P/E)	6.13	0.00	6.87
Dividend Yield	1.37%	2.14%	1.51%
Earnings Yield	16.32%	0.00%	14.56%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.57	0.69
Enterprise Value to Revenue (EV/Rev)	0.55	0.35	0.35
Enterprise Value to EBITDA (EV/EBITDA)	3.26	10.69	3.07
Enterprise Value to EBIT (EV/EBIT)	4.04	78.82	4.01
Enterprise Value to NOPAT (EV/NOPAT)	7.83	112.60	5.12
Enterprise Value to Operating Cash Flow (EV/OCF)	26.99	177.85	22.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.41	0.43	0.43
Long-Term Debt to Equity	0.35	0.43	0.43
Financial Leverage	0.05	-0.08	-0.13
Leverage Ratio	2.09	2.16	2.37
Compound Leverage Factor	1.73	-4.78	2.04
Debt to Total Capital	29.00%	29.98%	29.98%
Short-Term Debt to Total Capital	4.07%	0.04%	0.10%
Long-Term Debt to Total Capital	24.94%	29.94%	29.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.66%	17.87%	18.66%
Common Equity to Total Capital	53.34%	52.15%	51.36%
Debt to EBITDA	1.55	8.42	2.16
Net Debt to EBITDA	0.50	-0.85	-0.60
Long-Term Debt to EBITDA	1.33	8.41	2.16
Debt to NOPAT	3.72	88.72	3.61
Net Debt to NOPAT	1.20	-8.93	-1.00
Long-Term Debt to NOPAT	3.19	88.60	3.60
Altman Z-Score	2.03	1.57	1.97
Noncontrolling Interest Sharing Ratio	25.18%	26.09%	27.47%
Liquidity Ratios	-	-	-
Current Ratio	2.26	2.91	3.23
Quick Ratio	1.05	1.58	1.68
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-189	-63	-0.24
Operating Cash Flow to CapEx	142.39%	8.04%	51.63%
Free Cash Flow to Firm to Interest Expense	-3.79	-2.22	-0.01
Operating Cash Flow to Interest Expense	0.88	0.14	1.25
Operating Cash Flow Less CapEx to Interest Expense	0.26	-1.58	-1.17
Efficiency Ratios	-	-	-
Asset Turnover	0.78	0.71	0.78
Accounts Receivable Turnover	6.52	6.46	6.73
Inventory Turnover	2.62	2.71	3.15
Fixed Asset Turnover	3.49	3.80	4.17
Accounts Payable Turnover	7.02	7.84	9.34
Days Sales Outstanding (DSO)	56.02	56.54	54.21
Days Inventory Outstanding (DIO)	139.23	134.65	115.85
Days Payable Outstanding (DPO)	51.97	46.58	39.08
Cash Conversion Cycle (CCC)	143.28	144.60	130.97
Capital & Investment Metrics	-	-	-
Invested Capital	1,562	1,221	1,152
Invested Capital Turnover	1.56	1.67	2.11
Increase / (Decrease) in Invested Capital	341	69	155
Enterprise Value (EV)	1,188	694	793
Market Capitalization	662	423	599
Book Value per Share	$36.62	$33.60	$33.90
Tangible Book Value per Share	$23.11	$20.18	$20.47
Total Capital	1,943	1,823	1,866
Total Debt	563	547	560
Total Long-Term Debt	484	546	558
Net Debt	183	-55	-155
Capital Expenditures (CapEx)	31	49	68
Debt-free, Cash-free Net Working Capital (DFCFNWC)	514	483	499
Debt-free Net Working Capital (DFNWC)	889	969	1,099
Net Working Capital (NWC)	810	968	1,097
Net Nonoperating Expense (NNE)	-9.64	1.06	22
Net Nonoperating Obligations (NNO)	183	-55	-155
Total Depreciation and Amortization (D&A)	70	56	61
Debt-free, Cash-free Net Working Capital to Revenue	23.72%	24.44%	22.00%
Debt-free Net Working Capital to Revenue	41.03%	49.01%	48.47%
Net Working Capital to Revenue	37.38%	48.98%	48.39%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$3.79	($0.42)	$3.16
Adjusted Weighted Average Basic Shares Outstanding	28.50M	28.50M	28.50M
Adjusted Diluted Earnings per Share	$3.79	($0.42)	$3.16
Adjusted Weighted Average Diluted Shares Outstanding	28.50M	28.50M	28.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.29M	28.29M	28.28M
Normalized Net Operating Profit after Tax (NOPAT)	152	6.16	168
Normalized NOPAT Margin	7.00%	0.31%	7.40%
Pre Tax Income Margin	11.27%	-0.99%	7.50%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	5.89	0.31	7.09
NOPAT to Interest Expense	3.04	0.22	5.55
EBIT Less CapEx to Interest Expense	5.27	-1.40	4.67
NOPAT Less CapEx to Interest Expense	2.42	-1.50	3.13
Payout Ratios	-	-	-
Dividend Payout Ratio	21.33%	845.10%	35.99%
Augmented Payout Ratio	21.33%	901.96%	38.99%

This table displays calculated financial ratios and metrics derived from Valhi's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.09%	17.30%	8.85%	7.32%	16.93%	-17.78%	-20.32%	-19.59%	-41.21%	-2.13%
EBITDA Growth	171.43%	1,270.27%	874.58%	577.78%	103.76%	-83.03%	-91.75%	-95.41%	-83.41%	-24.04%
EBIT Growth	275.71%	5,895.65%	629.58%	283.67%	294.37%	-104.51%	-112.59%	-111.76%	-93.73%	-28.57%
NOPAT Growth	13.21%	3,150.82%	697.59%	298.25%	781.81%	-103.79%	-111.72%	-110.82%	-94.38%	-22.08%
Net Income Growth	200.00%	5,135.29%	10,000.00%	467.57%	180.00%	-104.17%	-100.71%	-105.84%	-115.27%	-25.14%
EPS Growth	478.57%	1,057.14%	736.36%	258.82%	132.56%	-122.83%	-111.22%	-110.69%	-123.63%	-32.35%
Operating Cash Flow Growth	-29.65%	-60.18%	5.68%	61.51%	830.00%	33,800.00%	-37.35%	-456.14%	-97.41%	-99.91%
Free Cash Flow Firm Growth	-1,060.51%	-62.04%	116.98%	138.62%	83.31%	-278.02%	-224.98%	-270.48%	-151.08%	-34.80%
Invested Capital Growth	27.89%	28.95%	-0.88%	-5.57%	5.98%	18.08%	22.64%	19.87%	15.57%	-5.86%
Revenue Q/Q Growth	-10.24%	-0.82%	3.80%	13.72%	0.19%	-7.96%	2.33%	23.91%	-29.55%	-10.81%
EBITDA Q/Q Growth	-22.55%	164.52%	88.52%	50.25%	290.99%	88.14%	31.11%	168.18%	-67.43%	-8.53%
EBIT Q/Q Growth	-21.08%	254.52%	108.89%	160.87%	1,317.39%	67.61%	27.55%	52.88%	-86.08%	-9.57%
NOPAT Q/Q Growth	1.01%	65.38%	118.38%	54.55%	2,822.12%	67.61%	27.55%	52.88%	-88.30%	0.15%
Net Income Q/Q Growth	-62.15%	188.22%	118.38%	54.55%	735.29%	-466.67%	91.89%	64.76%	-133.09%	-3.77%
EPS Q/Q Growth	-59.70%	187.14%	159.26%	285.71%	166.67%	-90.91%	35.29%	48.48%	-146.74%	-6.12%
Operating Cash Flow Q/Q Growth	239.26%	-59.70%	168.65%	-174.96%	92.04%	6.94%	125.00%	-1,911.43%	6,900.00%	-99.80%
Free Cash Flow Firm Q/Q Growth	6.91%	-862.39%	-53.04%	245.26%	87.00%	20.11%	-6.82%	-33.16%	-238.63%	-43.91%
Invested Capital Q/Q Growth	-3.07%	26.88%	1.71%	2.24%	-2.26%	-2.47%	-3.10%	14.74%	8.89%	1.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.18%	25.32%	22.19%	18.15%	18.71%	14.29%	14.68%	13.29%	14.26%	24.77%
EBITDA Margin	23.48%	27.22%	10.21%	5.62%	9.09%	2.33%	1.14%	0.89%	5.22%	11.29%
Operating Margin	20.97%	12.31%	6.67%	3.32%	5.87%	-0.48%	-1.37%	-1.94%	1.74%	8.80%
EBIT Margin	20.97%	23.85%	6.67%	3.32%	5.87%	-0.48%	-1.37%	-1.94%	1.74%	8.80%
Profit (Net Income) Margin	6.46%	15.32%	5.27%	2.51%	2.26%	-0.36%	-0.06%	-0.73%	-3.31%	7.04%
Tax Burden Percent	47.16%	71.39%	78.99%	75.56%	156.52%	17.89%	4.23%	37.76%	71.81%	83.27%
Interest Burden Percent	65.30%	89.95%	100.00%	100.00%	24.64%	413.04%	100.00%	100.00%	-264.79%	96.08%
Effective Tax Rate	52.84%	28.61%	21.01%	24.44%	-56.52%	0.00%	0.00%	0.00%	0.00%	16.73%
Return on Invested Capital (ROIC)	15.40%	13.17%	8.51%	3.93%	15.30%	-0.56%	-1.66%	-2.40%	2.57%	17.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-11.56%	45.04%	8.51%	3.93%	46.83%	-0.46%	-7.21%	-9.87%	14.26%	20.12%
Return on Net Nonoperating Assets (RNNOA)	-0.56%	3.92%	-0.04%	0.05%	-3.80%	0.03%	0.49%	0.33%	-1.83%	-0.98%
Return on Equity (ROE)	14.84%	17.08%	8.47%	3.98%	11.50%	-0.53%	-1.17%	-2.06%	0.74%	16.16%
Cash Return on Invested Capital (CROIC)	-13.58%	-18.75%	4.82%	7.31%	-5.29%	-19.01%	-18.07%	-12.39%	-0.02%	27.72%
Operating Return on Assets (OROA)	16.41%	18.95%	5.30%	2.53%	4.16%	-0.34%	-0.99%	-1.45%	1.35%	7.85%
Return on Assets (ROA)	5.05%	12.17%	4.19%	1.91%	1.61%	-0.25%	-0.04%	-0.55%	-2.57%	6.28%
Return on Common Equity (ROCE)	11.11%	12.69%	6.29%	2.94%	8.50%	-0.38%	-0.86%	-1.50%	0.54%	11.61%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.45%	5.22%	2.18%	0.00%	-1.74%	2.80%	7.29%	0.00%	26.37%
Net Operating Profit after Tax (NOPAT)	50	49	30	14	44	-1.61	-4.97	-6.86	4.97	42
NOPAT Margin	9.89%	8.79%	5.27%	2.51%	9.18%	-0.34%	-0.96%	-1.36%	1.22%	7.33%
Net Nonoperating Expense Percent (NNEP)	26.96%	-31.88%	0.00%	0.00%	-31.53%	-0.10%	5.55%	7.47%	-11.70%	-2.98%
Return On Investment Capital (ROIC_SIMPLE)	2.55%	-	-	-	2.40%	-	-	-	0.27%	-
Cost of Revenue to Revenue	75.82%	74.68%	77.81%	81.85%	81.29%	85.71%	85.32%	86.71%	85.74%	75.23%
SG&A Expenses to Revenue	7.68%	13.28%	13.29%	12.64%	14.90%	14.50%	13.21%	13.60%	16.14%	14.14%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.21%	13.01%	15.51%	14.83%	12.84%	14.78%	16.05%	15.22%	12.52%	15.96%
Earnings before Interest and Taxes (EBIT)	105	133	38	18	28	-2.30	-7.10	-9.80	7.10	51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	118	152	58	31	43	11	5.90	4.50	21	65
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.64	0.92	0.52	0.52	0.44	0.40	0.38	0.51	0.63	0.77
Price to Tangible Book Value (P/TBV)	1.01	1.47	0.87	0.88	0.74	0.67	0.63	0.84	1.03	1.34
Price to Revenue (P/Rev)	0.31	0.44	0.24	0.24	0.21	0.19	0.18	0.22	0.26	0.27
Price to Earnings (P/E)	6.13	10.85	21.28	806.53	0.00	0.00	40.86	12.00	6.87	4.53
Dividend Yield	1.37%	0.96%	1.79%	1.87%	2.14%	2.46%	2.55%	1.89%	1.51%	1.32%
Earnings Yield	16.32%	9.21%	4.70%	0.12%	0.00%	0.00%	2.45%	8.34%	14.56%	22.08%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.95	0.64	0.64	0.57	0.53	0.53	0.62	0.69	0.78
Enterprise Value to Revenue (EV/Rev)	0.55	0.72	0.39	0.40	0.35	0.35	0.34	0.38	0.35	0.32
Enterprise Value to EBITDA (EV/EBITDA)	3.26	7.79	7.23	13.27	10.69	44.78	9.79	6.09	3.07	2.26
Enterprise Value to EBIT (EV/EBIT)	4.04	12.35	15.31	96.89	78.82	0.00	50.93	10.69	4.01	2.70
Enterprise Value to NOPAT (EV/NOPAT)	7.83	16.39	16.17	39.81	112.60	0.00	25.76	11.90	5.12	3.47
Enterprise Value to Operating Cash Flow (EV/OCF)	26.99	24.22	9.70	9.82	177.85	0.00	0.00	0.00	22.72	2.75
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	13.20	8.56	0.00	0.00	0.00	0.00	0.00	2.71
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.45	0.39	0.41	0.43	0.42	0.43	0.44	0.43	0.44
Long-Term Debt to Equity	0.35	0.39	0.39	0.41	0.43	0.42	0.43	0.43	0.43	0.44
Financial Leverage	0.05	0.09	0.00	0.01	-0.08	-0.07	-0.07	-0.03	-0.13	-0.05
Leverage Ratio	2.09	2.05	2.02	2.08	2.16	2.19	2.23	2.29	2.37	2.49
Compound Leverage Factor	1.36	1.84	2.02	2.08	0.53	9.04	2.23	2.29	-6.27	2.40
Debt to Total Capital	29.00%	30.91%	27.91%	29.06%	29.98%	29.66%	30.16%	30.35%	29.98%	30.61%
Short-Term Debt to Total Capital	4.07%	4.28%	0.04%	0.04%	0.04%	0.08%	0.08%	0.09%	0.10%	0.11%
Long-Term Debt to Total Capital	24.94%	26.62%	27.86%	29.02%	29.94%	29.58%	30.08%	30.26%	29.88%	30.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.66%	17.40%	18.17%	18.26%	17.87%	18.53%	18.36%	18.51%	18.66%	18.90%
Common Equity to Total Capital	53.34%	51.70%	53.92%	52.69%	52.15%	51.81%	51.48%	51.15%	51.36%	50.49%
Debt to EBITDA	1.55	3.11	4.44	8.45	8.42	35.80	7.97	4.17	2.16	1.49
Net Debt to EBITDA	0.50	1.24	-0.15	-0.02	-0.85	-2.30	-0.20	0.00	-0.60	-0.55
Long-Term Debt to EBITDA	1.33	2.68	4.43	8.44	8.41	35.70	7.95	4.15	2.16	1.48
Debt to NOPAT	3.72	6.53	9.92	25.34	88.72	-19.05	20.96	8.14	3.61	2.28
Net Debt to NOPAT	1.20	2.61	-0.34	-0.06	-8.93	1.22	-0.52	0.00	-1.00	-0.84
Long-Term Debt to NOPAT	3.19	5.63	9.91	25.31	88.60	-19.00	20.90	8.11	3.60	2.28
Altman Z-Score	1.81	1.99	1.83	1.73	1.60	1.59	1.61	1.70	1.74	1.94
Noncontrolling Interest Sharing Ratio	25.18%	25.74%	25.75%	26.16%	26.09%	26.78%	26.89%	27.23%	27.47%	28.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.26	2.79	3.49	3.45	2.91	3.40	3.56	3.71	3.23	3.34
Quick Ratio	1.05	1.41	2.07	1.95	1.58	1.88	1.85	1.83	1.68	1.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-291	-313	41	87	-25	-193	-241	-226	-150	108
Operating Cash Flow to CapEx	366.40%	140.63%	881.58%	-976.00%	1,122.41%	408.43%	179.10%	-759.28%	35.71%	0.68%
Free Cash Flow to Firm to Interest Expense	0.00	-23.33	0.00	0.00	0.00	-26.79	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	1.01	0.00	0.00	0.00	4.71	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.29	0.00	0.00	0.00	3.56	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.79	0.79	0.76	0.71	0.70	0.72	0.75	0.78	0.89
Accounts Receivable Turnover	6.52	5.89	5.64	5.70	6.46	5.31	5.25	5.55	6.73	6.39
Inventory Turnover	2.62	3.04	3.20	2.93	2.71	3.04	3.19	3.01	3.15	3.77
Fixed Asset Turnover	3.49	3.39	4.11	3.94	3.80	3.83	3.87	3.93	4.17	4.87
Accounts Payable Turnover	7.02	4.25	4.46	4.46	7.84	3.76	4.09	4.19	9.34	4.67
Days Sales Outstanding (DSO)	56.02	61.95	64.77	64.03	56.54	68.76	69.50	65.75	54.21	57.12
Days Inventory Outstanding (DIO)	139.23	120.04	114.21	124.53	134.65	120.15	114.40	121.17	115.85	96.90
Days Payable Outstanding (DPO)	51.97	85.87	81.87	81.87	46.58	97.14	89.23	87.04	39.08	78.09
Cash Conversion Cycle (CCC)	143.28	96.12	97.11	106.69	144.60	91.77	94.67	99.88	130.97	75.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,562	1,611	1,270	1,249	1,221	1,250	1,281	1,322	1,152	1,058
Invested Capital Turnover	1.56	1.50	1.61	1.57	1.67	1.65	1.73	1.77	2.11	2.34
Increase / (Decrease) in Invested Capital	341	362	-11	-74	69	191	237	219	155	-66
Enterprise Value (EV)	1,188	1,533	812	804	694	667	677	821	793	820
Market Capitalization	662	944	504	484	423	368	355	479	599	687
Book Value per Share	$36.62	$36.14	$34.03	$32.81	$33.60	$32.94	$33.27	$33.47	$33.90	$31.51
Tangible Book Value per Share	$23.11	$22.63	$20.61	$19.39	$20.18	$19.52	$19.84	$20.04	$20.47	$18.08
Total Capital	1,943	1,978	1,785	1,762	1,823	1,799	1,828	1,850	1,866	1,765
Total Debt	563	611	498	512	547	533	551	562	560	540
Total Long-Term Debt	484	527	497	511	546	532	550	560	558	538
Net Debt	183	245	-17	-1.30	-55	-34	-14	0.00	-155	-200
Capital Expenditures (CapEx)	13	9.60	3.80	5.00	5.80	8.30	18	17	20	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	514	626	537	545	483	519	569	633	499	514
Debt-free Net Working Capital (DFNWC)	889	987	946	944	969	968	1,009	1,079	1,099	1,144
Net Working Capital (NWC)	810	902	945	943	968	967	1,008	1,077	1,097	1,142
Net Nonoperating Expense (NNE)	17	-36	0.00	0.00	33	0.09	-4.67	-3.16	18	1.67
Net Nonoperating Obligations (NNO)	183	245	-17	-1.30	-55	-16	4.80	33	-155	-166
Total Depreciation and Amortization (D&A)	13	19	20	13	15	13	13	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	23.72%	29.20%	26.07%	27.06%	24.44%	27.22%	28.27%	29.52%	22.00%	20.14%
Debt-free Net Working Capital to Revenue	41.03%	46.07%	45.91%	46.87%	49.01%	50.74%	50.17%	50.35%	48.47%	44.80%
Net Working Capital to Revenue	37.38%	42.12%	45.88%	46.83%	48.98%	50.67%	50.10%	50.27%	48.39%	44.72%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.81	$2.01	$0.70	$0.27	$0.14	($0.21)	($0.18)	($0.17)	($0.43)	$0.92
Adjusted Weighted Average Basic Shares Outstanding	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M
Adjusted Diluted Earnings per Share	$0.81	$2.01	$0.70	$0.27	$0.14	($0.21)	($0.18)	($0.17)	($0.43)	$0.92
Adjusted Weighted Average Diluted Shares Outstanding	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M	28.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.29M	28.29M	28.29M	28.29M	28.29M	28.29M	28.29M	28.28M	28.28M	28.28M
Normalized Net Operating Profit after Tax (NOPAT)	74	49	30	14	20	-1.61	-4.97	-6.86	4.97	43
Normalized NOPAT Margin	14.68%	8.79%	5.27%	2.51%	4.11%	-0.34%	-0.96%	-1.36%	1.22%	7.39%
Pre Tax Income Margin	13.70%	21.46%	6.67%	3.32%	1.45%	-1.99%	-1.37%	-1.94%	-4.61%	8.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	9.95	0.00	0.00	0.00	-0.32	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	3.67	0.00	0.00	0.00	-0.22	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	9.23	0.00	0.00	0.00	-1.47	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	2.95	0.00	0.00	0.00	-1.38	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.33%	34.33%	86.26%	213.86%	845.10%	-243.83%	166.92%	69.57%	35.99%	27.87%
Augmented Payout Ratio	21.33%	34.33%	86.26%	221.29%	901.96%	-269.14%	182.51%	75.80%	38.99%	29.36%

Frequently Asked Questions About Valhi's Financials

When does Valhi's fiscal year end?

According to the most recent income statement we have on file, Valhi's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Valhi's net income changed over the last 2 years?

Valhi's net income appears to be on an upward trend, with a most recent value of $161.30 million in 2024, rising from $133.10 million in 2022. The previous period was $5.10 million in 2023. View Valhi's forecast to see where analysts expect Valhi to go next.

What is Valhi's operating income?

Valhi's total operating income in 2024 was $229.60 million, based on the following breakdown:

Total Gross Profit: $486.30 million
Total Operating Expenses: $256.70 million

How has Valhi revenue changed over the last 2 years?

Over the last 2 years, Valhi's total revenue changed from $2.27 billion in 2022 to $2.17 billion in 2024, a change of -4.4%.

How much debt does Valhi have?

Valhi's total liabilities were at $1.42 billion at the end of 2024, a 2.7% decrease from 2023, and a 7.1% decrease since 2022.

How much cash does Valhi have?

In the past 2 years, Valhi's cash and equivalents has ranged from $348.30 million in 2024 to $478.50 million in 2022, and is currently $348.30 million as of their latest financial filing in 2024.

How has Valhi's book value per share changed over the last 2 years?

Over the last 2 years, Valhi's book value per share changed from 33.90 in 2022 to 36.62 in 2024, a change of 8.0%.

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This page (NYSE:VHI) was last updated on 5/27/2025 by MarketBeat.com Staff

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Valhi (VHI) Financials

Frequently Asked Questions About Valhi's Financials

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Valhi (VHI) Financials

Annual Income Statements for Valhi

Quarterly Income Statements for Valhi

Annual Cash Flow Statements for Valhi

Quarterly Cash Flow Statements for Valhi

Annual Balance Sheets for Valhi

Quarterly Balance Sheets for Valhi

Annual Metrics And Ratios for Valhi

Quarterly Metrics And Ratios for Valhi

Frequently Asked Questions About Valhi's Financials

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