Valvoline (VVV) Financials

$32.08 -0.72 (-2.20%)

Closing price 03:59 PM Eastern

Extended Trading

$32.08 0.00 (0.00%)

As of 06:39 PM Eastern

Annual Income Statements for Valvoline

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	196	273	304	166	208	317	420	424	1,454	208	206
Consolidated Net Income / (Loss)	196	273	304	166	208	317	420	424	1,420	212	211
Net Income / (Loss) Continuing Operations	196	273	304	166	208	70	200	109	199	215	215
Total Pre-Tax Income	297	421	490	332	265	123	260	144	237	284	292
Total Operating Income	323	396	394	395	398	160	240	220	247	367	390
Total Gross Profit	685	748	776	806	810	301	432	476	545	619	659
Total Revenue	1,967	1,929	2,084	2,285	2,390	727	1,037	1,236	1,444	1,619	1,710
Operating Revenue	1,967	1,929	2,084	2,285	2,390	727	1,037	1,236	1,444	1,619	1,710
Total Cost of Revenue	1,282	1,181	1,308	1,479	1,580	426	605	760	899	1,000	1,052
Operating Cost of Revenue	1,282	1,181	1,308	1,479	1,580	426	605	760	899	1,000	1,052
Total Operating Expenses	362	352	382	411	412	141	192	256	297	252	269
Selling, General & Admin Expense	348	365	396	430	449	177	224	245	265	305	350
Other Operating Expenses / (Income)	-8.00	-13	-14	-19	-37	-36	-32	11	33	-54	-81
Total Other Income / (Expense), net	-26	25	96	-63	-133	-37	20	-76	-11	-84	-98
Interest Expense	0.00	9.00	42	63	73	92	108	69	38	72	74
Other Income / (Expense), net	-26	34	138	0.00	-60	55	128	-6.90	28	-12	-24
Income Tax Expense	101	148	186	166	57	53	60	35	37	69	78
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	247	220	315	1,220	-3.00	-4.10
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	3.10	-	-77	0.80	9.40
Basic Earnings per Share	$1.15	$1.60	$1.49	$0.84	$1.10	$1.70	$4.60	$2.37	$17.58	$3.26	$3.30
Weighted Average Basic Shares Outstanding	170M	170M	204M	197M	189M	187M	182.50M	179.10M	161.60M	130.10M	127.90M
Diluted Earnings per Share	$1.15	$1.60	$1.49	$0.84	$1.10	$1.69	$4.58	$2.35	$17.46	$3.22	$3.28
Weighted Average Diluted Shares Outstanding	170M	170M	204M	197M	189M	187.50M	183.50M	180.40M	162.60M	131M	128.60M
Weighted Average Basic & Diluted Shares Outstanding	-	205.30M	204M	197.60M	188.40M	185.27M	180.04M	174.62M	130.65M	128.37M	127.16M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	59	32	41	43	92	92	37	57	21	-32	43
Consolidated Net Income / (Loss)	49	32	41	46	92	92	38	57	25	-33	45
Net Income / (Loss) Continuing Operations	75	34	43	48	89	94	38	57	26	-32	45
Total Pre-Tax Income	98	46	57	65	115	127	51	77	37	-6.00	60
Total Operating Income	70	63	76	93	135	144	67	95	85	18	86
Total Gross Profit	148	135	146	168	170	153	151	178	178	173	187
Total Revenue	390	373	389	421	436	414	403	439	454	462	504
Operating Revenue	390	373	389	421	436	414	403	439	454	462	504
Total Cost of Revenue	242	239	243	254	265	261	253	261	276	289	317
Operating Cost of Revenue	242	239	243	254	265	261	253	261	276	289	317
Total Operating Expenses	78	72	70	74	36	9.10	84	83	93	154	101
Selling, General & Admin Expense	70	75	72	77	81	80	84	86	95	107	99
Other Operating Expenses / (Income)	7.80	-2.50	-2.50	-3.10	-45	-71	0.00	-2.60	-2.30	47	2.30
Total Other Income / (Expense), net	28	-17	-19	-28	-19	-17	-16	-18	-47	-24	-27
Interest & Investment Income	-	-14	-16	-25	-	-18	-17	-19	-	-26	-28
Other Income / (Expense), net	39	-3.40	-3.60	-3.40	-1.30	0.90	0.90	0.90	-26	1.20	1.20
Income Tax Expense	23	12	14	17	26	33	13	20	12	26	14
Net Income / (Loss) Discontinued Operations	-26	-2.00	-1.90	-2.30	3.20	-2.30	-0.70	-0.50	-0.60	-0.60	-0.50
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	4.70	-	-	1.00	-	-	-2.60	4.20
Basic Earnings per Share	$2.05	$0.24	$0.32	$0.70	$2.00	$0.71	$0.58	$0.44	$1.57	($0.52)	$0.70
Weighted Average Basic Shares Outstanding	161.60M	131.80M	129.80M	129.40M	130.10M	128.70M	127.60M	127.60M	127.90M	127.70M	127.80M
Diluted Earnings per Share	$2.02	$0.24	$0.32	$0.70	$1.96	$0.71	$0.58	$0.44	$1.55	($0.52)	$0.70
Weighted Average Diluted Shares Outstanding	162.60M	132.70M	130.70M	130.20M	131M	129.50M	128.20M	128.20M	128.60M	127.70M	128.40M
Weighted Average Basic & Diluted Shares Outstanding	130.65M	129.65M	128.85M	128.87M	128.37M	127.10M	127.11M	127.11M	127.16M	127.32M	127.54M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	0.00	172	29	-105	63	601	-529	-148	329	-344	-17
Net Cash From Operating Activities	330	311	-130	320	325	372	404	284	-41	265	297
Net Cash From Continuing Operating Activities	330	311	-130	320	325	127	182	134	353	283	307
Net Income / (Loss) Continuing Operations	196	273	304	166	208	70	200	109	199	215	215
Consolidated Net Income / (Loss)	196	273	304	166	208	317	420	424	1,420	212	211
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	247	220	315	1,220	-3.00	-4.10
Depreciation Expense	38	38	42	54	61	41	62	71	89	106	119
Non-Cash Adjustments To Reconcile Net Income	48	-37	-60	50	73	8.70	-21	63	-18	-27	-30
Changes in Operating Assets and Liabilities, net	48	33	-416	50	-17	8.30	-59	-109	82	-10	3.30
Net Cash From Discontinued Operating Activities	-	-	-	-	-	245	222	150	-394	-18	-9.90
Net Cash From Investing Activities	-26	-148	-135	-213	-188	-223	-400	-208	2,044	137	-201
Net Cash From Continuing Investing Activities	-26	-148	-135	-213	-188	-159	-359	-171	-577	137	-201
Purchase of Property, Plant & Equipment	-45	-66	-68	-93	-108	-94	-103	-132	-181	-224	-259
Acquisitions	-5.00	-83	-68	-125	-78	-40	-282	-51	-36	-53	-65
Purchase of Investments	-	-	-	-	-	-	0.00	0.00	-440	-3.50	-4.50
Divestitures	23	-	-	-	-	-	-	0.00	0.00	72	121
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	0.00	80	350	6.00
Other Investing Activities, net	-	1.00	1.00	5.00	-2.00	-25	26	12	0.00	-4.10	0.60
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-63	-41	-37	2,621	0.00	0.00
Net Cash From Financing Activities	-304	10	295	-209	-71	450	-536	-219	-1,674	-746	-113
Net Cash From Continuing Financing Activities	-304	10	295	-209	-71	345	-526	-263	-1,566	-746	-113
Repayment of Debt	0.00	-637	-90	-116	-743	-945	-836	-54	-932	-708	-109
Repurchase of Common Equity	0.00	0.00	-50	-325	0.00	-60	-127	-143	-1,525	-227	-77
Payment of Dividends	0.00	0.00	-40	-73	-80	-84	-91	-89	-22	0.00	0.00
Issuance of Debt	-	1,372	470	305	752	1,435	528	23	924	200	85
Other Financing Activities, net	-304	-1,444	5.00	0.00	-	-	-	-	-11	-12	-12
Net Cash From Discontinued Financing Activities	-	-	-	-	-	105	-9.40	44	-108	0.00	0.00
Effect of Exchange Rate Changes	0.00	-1.00	-1.00	-3.00	-3.00	1.70	2.40	-5.20	-0.10	0.00	-0.30
Cash Interest Paid	0.00	0.00	35	53	67	65	62	59	70	78	56
Cash Income Taxes Paid	0.00	17	26	26	-	44	72	74	374	31	36

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-114	7.60	74	-429	2.70	-8.30	1.90	6.00	-17	18	15
Net Cash From Operating Activities	7.60	20	68	76	101	41	47	87	122	65	95
Net Cash From Continuing Operating Activities	103	22	70	78	113	41	52	87	127	65	95
Net Income / (Loss) Continuing Operations	75	34	43	48	89	94	38	57	26	-32	45
Consolidated Net Income / (Loss)	49	32	41	46	92	92	38	57	25	-33	45
Net Income / (Loss) Discontinued Operations	-26	-2.00	-1.90	-2.30	3.20	-2.30	-0.70	-0.50	-0.60	-0.60	-0.50
Depreciation Expense	28	25	26	27	29	28	28	30	33	34	38
Non-Cash Adjustments To Reconcile Net Income	-28	3.40	2.90	9.80	-43	-69	2.90	3.40	32	47	6.80
Changes in Operating Assets and Liabilities, net	28	-40	-1.60	-7.00	38	-12	-18	-3.80	36	17	5.70
Net Cash From Investing Activities	18	172	58	-69	-25	64	-54	-82	-129	-631	-68
Net Cash From Continuing Investing Activities	18	172	58	-69	-25	64	-54	-82	-129	-631	-68
Purchase of Property, Plant & Equipment	-55	-42	-45	-66	-71	-54	-52	-55	-99	-57	-58
Acquisitions	-8.50	-8.30	-13	-6.60	-25	-4.40	-5.20	-23	-33	-636	-8.50
Other Investing Activities, net	0.80	-7.10	-3.80	5.20	1.60	1.00	-2.70	0.80	1.50	-2.00	2.80
Net Cash From Financing Activities	-138	-185	-53	-435	-74	-113	8.30	0.80	-9.30	585	-12
Net Cash From Continuing Financing Activities	-138	-185	-53	-435	-74	-113	8.30	0.80	-9.30	585	-12
Repayment of Debt	-8.90	-13	-12	-635	-59	-92	-11	-9.20	2.90	-155	-27
Issuance of Debt	0.10	0.00	-	200	-	25	50	10	-	740	15
Effect of Exchange Rate Changes	-0.70	0.10	0.10	-0.10	-0.10	-0.80	0.10	0.50	-0.10	0.20	-0.20

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	1,825	1,915	1,854	2,064	3,051	3,191	3,417	2,890	2,439	2,670
Total Current Assets	730	790	725	797	1,438	1,037	1,621	937	255	244
Cash & Equivalents	172	201	96	159	760	123	23	409	68	52
Accounts Receivable	363	385	409	401	433	65	66	81	86	90
Inventories, net	139	175	176	194	199	27	29	33	40	43
Prepaid Expenses	-	29	44	43	46	27	38	66	61	60
Plant, Property, & Equipment, net	324	391	420	0.00	0.00	0.00	0.00	0.00	0.00	1,135
Total Noncurrent Assets	771	734	709	1,267	1,613	2,154	1,796	1,953	2,183	1,292
Goodwill	267	335	448	504	529	642	663	681	706	741
Other Noncurrent Operating Assets	89	88	92	606	1,006	949	1,133	1,273	1,478	552
Total Liabilities & Shareholders' Equity	1,825	1,915	1,854	2,064	3,051	3,191	3,417	2,890	2,439	2,670
Total Liabilities	2,155	2,032	2,212	2,322	3,127	3,057	3,110	2,687	2,253	2,332
Total Current Liabilities	400	478	411	423	444	569	919	362	354	347
Short-Term Debt	19	90	30	15	0.00	15	163	24	24	24
Accounts Payable	177	192	178	171	189	39	45	119	117	119
Accrued Expenses	204	196	203	237	255	139	173	216	213	205
Total Noncurrent Liabilities	1,755	1,554	1,801	1,899	2,683	2,488	2,191	2,324	1,899	1,985
Long-Term Debt	724	1,034	1,292	1,327	1,962	1,640	1,525	1,562	1,070	1,050
Noncurrent Employee Benefit Liabilities	886	342	333	387	317	245	199	168	176	188
Other Noncurrent Operating Liabilities	143	178	176	185	403	471	466	594	653	747
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-330	-117	-358	-258	-76	135	307	203	186	339
Total Preferred & Common Equity	-330	-117	-358	-258	-76	135	307	203	186	339
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-330	-117	-358	-258	-76	135	307	203	186	339
Common Stock	712	7.00	9.00	15	26	37	46	49	53	60
Retained Earnings	0.00	-167	-399	-284	-110	90	282	141	123	274
Accumulated Other Comprehensive Income / (Loss)	-3.00	43	32	11	8.00	7.50	-21	13	9.90	5.20

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	3,552	4,280	2,986	2,709	2,763	2,376	2,350	2,453	2,562	3,402	3,421
Total Current Assets	1,701	2,458	1,087	711	701	256	213	230	239	255	272
Cash & Equivalents	21	2,335	527	421	495	66	60	62	68	70	85
Accounts Receivable	57	61	72	84	110	98	85	86	90	99	93
Inventories, net	31	34	34	32	38	40	38	42	41	49	48
Prepaid Expenses	39	29	30	55	60	53	30	41	40	38	47
Plant, Property, & Equipment, net	693	723	762	842	878	927	934	996	1,051	1,217	1,246
Total Noncurrent Assets	1,157	1,100	1,137	1,157	1,184	1,192	1,203	1,227	1,272	1,930	1,902
Goodwill	668	673	678	686	692	694	690	691	713	1,305	1,280
Other Noncurrent Operating Assets	406	427	459	472	491	498	514	536	559	625	622
Total Liabilities & Shareholders' Equity	3,552	4,280	2,986	2,709	2,763	2,376	2,350	2,453	2,562	3,402	3,421
Total Liabilities	3,262	2,908	2,700	2,645	2,703	2,269	2,120	2,204	2,248	3,095	3,068
Total Current Liabilities	924	622	406	317	964	351	304	316	328	364	371
Short-Term Debt	225	24	24	24	624	24	24	24	24	31	31
Accounts Payable	47	86	96	77	119	108	88	103	101	113	113
Accrued Expenses	175	512	286	216	221	220	192	189	203	219	227
Total Noncurrent Liabilities	2,338	2,286	2,294	2,327	1,739	1,918	1,816	1,888	1,921	2,731	2,697
Long-Term Debt	1,656	1,573	1,568	1,557	951	1,126	1,009	1,052	1,056	1,634	1,627
Noncurrent Employee Benefit Liabilities	201	201	202	170	170	168	175	172	170	186	180
Other Noncurrent Operating Liabilities	481	512	524	600	618	624	633	665	694	911	890
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	289	1,372	285	65	60	107	230	249	314	308	353
Total Preferred & Common Equity	289	1,372	285	65	60	107	230	249	314	308	353
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	289	1,372	285	65	60	107	230	249	314	308	353
Common Stock	43	44	46	48	47	50	52	54	57	60	63
Retained Earnings	255	1,310	222	-0.20	0.40	46	175	192	249	241	286
Accumulated Other Comprehensive Income / (Loss)	-7.80	18	17	17	13	10	3.00	2.50	8.20	6.50	4.40

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-1.93%	8.04%	9.64%	4.60%	-69.58%	42.67%	19.18%	16.78%	12.16%	5.64%
EBITDA Growth	0.00%	40.90%	21.61%	-21.78%	-11.14%	-35.91%	68.32%	-33.83%	27.67%	26.90%	5.27%
EBIT Growth	0.00%	44.78%	23.72%	-25.75%	-14.43%	-36.36%	71.22%	-42.06%	28.77%	29.37%	3.04%
NOPAT Growth	0.00%	20.47%	-4.81%	-19.20%	58.17%	-70.98%	103.84%	-9.49%	24.62%	33.25%	3.17%
Net Income Growth	0.00%	39.29%	11.36%	-45.39%	25.30%	52.21%	32.75%	0.95%	234.60%	-85.10%	-0.38%
EPS Growth	0.00%	39.13%	-6.88%	-43.62%	30.95%	53.64%	171.01%	-48.69%	642.98%	-81.56%	1.86%
Operating Cash Flow Growth	0.00%	-5.76%	-141.80%	346.15%	1.56%	14.37%	8.66%	-29.64%	-114.36%	749.75%	12.11%
Free Cash Flow Firm Growth	0.00%	0.00%	-857.53%	143.12%	89.30%	-138.84%	547.42%	-113.55%	457.80%	-52.59%	32.44%
Invested Capital Growth	0.00%	0.00%	260.93%	7.86%	6.45%	21.44%	-24.42%	27.89%	-0.89%	16.83%	12.37%
Revenue Q/Q Growth	0.00%	0.00%	2.61%	2.10%	1.49%	-68.80%	-11.50%	693.99%	3.93%	2.89%	1.08%
EBITDA Q/Q Growth	0.00%	0.00%	40.34%	-20.11%	-6.12%	-42.92%	17.37%	69.22%	30.51%	5.78%	-12.77%
EBIT Q/Q Growth	0.00%	0.00%	46.15%	-22.70%	-7.90%	-43.69%	20.32%	74.77%	38.37%	7.40%	-17.01%
NOPAT Q/Q Growth	0.00%	0.00%	7.34%	-1.99%	4.20%	-71.84%	19.99%	2,712.23%	-4.48%	21.84%	-13.33%
Net Income Q/Q Growth	0.00%	0.00%	15.15%	-26.55%	-7.96%	42.61%	12.50%	-2.44%	-7.12%	25.82%	-24.21%
EPS Q/Q Growth	0.00%	0.00%	0.68%	-25.66%	-6.78%	42.02%	126.73%	-49.89%	7.05%	-1.83%	-11.11%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-146.10%	401.89%	-7.93%	-2.70%	1.82%	-4.98%	-191.48%	54.67%	7.45%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	152.80%	28.68%	-136.50%	242.99%	81.62%	-79.69%	384.80%	-30.21%
Invested Capital Q/Q Growth	0.00%	0.00%	110.30%	0.97%	-3.99%	10.97%	-43.33%	-41.24%	11.93%	1.75%	2.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.82%	38.78%	37.24%	35.27%	33.89%	41.40%	41.68%	38.54%	37.72%	38.22%	38.50%
EBITDA Margin	17.03%	24.47%	27.54%	19.65%	16.69%	35.17%	41.50%	23.04%	25.19%	28.50%	28.40%
Operating Margin	16.42%	20.53%	18.91%	17.29%	16.65%	22.04%	23.15%	17.82%	17.13%	22.68%	22.80%
EBIT Margin	15.10%	22.29%	25.53%	17.29%	14.14%	29.59%	35.51%	17.26%	19.04%	21.96%	21.42%
Profit (Net Income) Margin	9.96%	14.15%	14.59%	7.26%	8.70%	43.55%	40.52%	34.33%	98.35%	13.06%	12.32%
Tax Burden Percent	65.99%	64.85%	62.04%	50.00%	78.49%	257.40%	161.65%	294.45%	600.30%	74.58%	72.08%
Interest Burden Percent	100.00%	97.91%	92.11%	84.05%	78.40%	57.18%	70.59%	67.53%	86.06%	79.78%	79.80%
Effective Tax Rate	34.01%	35.15%	37.96%	50.00%	21.51%	43.41%	23.04%	24.08%	15.69%	24.37%	26.51%
Return on Invested Capital (ROIC)	0.00%	238.87%	49.33%	24.49%	36.16%	9.19%	19.45%	17.95%	20.02%	24.71%	22.28%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	244.82%	57.62%	21.47%	27.25%	28.78%	45.03%	54.09%	174.05%	17.59%	14.88%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-404.33%	-185.35%	-94.38%	-103.69%	-198.77%	1,417.47%	174.43%	536.95%	84.08%	58.12%
Return on Equity (ROE)	0.00%	-165.45%	-136.02%	-69.89%	-67.53%	-189.58%	1,436.92%	192.38%	556.96%	108.80%	80.40%
Cash Return on Invested Capital (CROIC)	0.00%	38.87%	-63.89%	16.93%	29.91%	-10.17%	47.27%	-6.53%	20.91%	9.19%	10.63%
Operating Return on Assets (OROA)	0.00%	23.56%	28.45%	20.96%	17.25%	8.41%	11.80%	6.46%	8.71%	13.34%	14.34%
Return on Assets (ROA)	0.00%	14.96%	16.26%	8.81%	10.62%	12.38%	13.47%	12.84%	45.02%	7.94%	8.25%
Return on Common Equity (ROCE)	0.00%	-165.45%	-136.02%	-69.89%	-67.53%	-189.58%	1,436.92%	192.38%	556.96%	108.80%	80.40%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-82.73%	-259.83%	-46.37%	-80.62%	-416.58%	312.49%	138.39%	698.67%	113.95%	0.00%
Net Operating Profit after Tax (NOPAT)	213	257	244	198	312	91	185	167	208	278	287
NOPAT Margin	10.84%	13.31%	11.73%	8.64%	13.07%	12.47%	17.82%	13.53%	14.44%	17.15%	16.75%
Net Nonoperating Expense Percent (NNEP)	0.00%	-5.95%	-8.28%	3.02%	8.91%	-19.59%	-25.58%	-36.14%	-154.04%	7.13%	7.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	20.28%
Cost of Revenue to Revenue	65.18%	61.22%	62.76%	64.73%	66.11%	58.60%	58.32%	61.46%	62.28%	61.78%	61.50%
SG&A Expenses to Revenue	17.69%	18.92%	19.00%	18.82%	18.79%	24.37%	21.59%	19.80%	18.32%	18.85%	20.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.40%	18.25%	18.33%	17.99%	17.24%	19.37%	18.53%	20.72%	20.60%	15.54%	15.70%
Earnings before Interest and Taxes (EBIT)	297	430	532	395	338	215	368	213	275	356	366
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	335	472	574	449	399	256	430	285	364	461	486
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	41.11	14.58	22.00	29.06	13.49
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	2.07	1.66	1.63	4.67	5.33	3.62	3.10	3.33	2.67
Price to Earnings (P/E)	0.00	0.00	14.22	22.79	18.78	10.72	13.18	10.53	3.07	25.90	22.16
Dividend Yield	0.00%	0.00%	0.92%	1.50%	2.04%	2.47%	1.63%	1.98%	1.55%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	7.03%	4.39%	5.33%	9.33%	7.59%	9.49%	32.53%	3.86%	4.51%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	6.72	5.95	5.67	4.21	8.63	5.86	5.11	5.30	4.11
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.50	2.18	2.12	6.26	6.81	4.96	3.67	3.96	3.27
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	9.09	11.09	12.67	17.80	16.41	21.53	14.58	13.91	11.50
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	9.81	12.60	14.96	21.16	19.17	28.74	19.29	18.06	15.25
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	21.34	25.21	16.18	50.20	38.21	36.67	25.43	23.11	19.50
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	15.56	15.55	12.24	17.48	21.58	0.00	24.21	18.80
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	36.47	19.56	0.00	15.73	0.00	24.34	62.18	40.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	-2.25	-9.61	-3.69	-5.20	-25.82	12.30	5.50	7.81	5.89	3.17
Long-Term Debt to Equity	0.00	-2.19	-8.84	-3.61	-5.14	-25.82	12.19	4.97	7.69	5.77	3.10
Financial Leverage	0.00	-1.65	-3.22	-4.40	-3.81	-6.91	31.48	3.23	3.08	4.78	3.91
Leverage Ratio	0.00	-5.53	-8.37	-7.93	-6.36	-15.31	106.70	14.98	12.37	13.71	9.75
Compound Leverage Factor	0.00	-5.41	-7.71	-6.67	-4.99	-8.76	75.33	10.12	10.65	10.93	7.78
Debt to Total Capital	0.00%	179.90%	111.62%	137.14%	123.80%	104.03%	92.48%	84.63%	88.64%	85.49%	76.04%
Short-Term Debt to Total Capital	0.00%	4.60%	8.94%	3.11%	1.38%	0.00%	0.84%	8.15%	1.33%	1.86%	1.69%
Long-Term Debt to Total Capital	0.00%	175.30%	102.68%	134.02%	122.42%	104.03%	91.64%	76.48%	87.31%	83.63%	74.35%
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%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-79.90%	-11.62%	-37.14%	-23.80%	-4.03%	7.52%	15.37%	11.36%	14.51%	23.96%
Debt to EBITDA	0.00	1.57	1.96	2.94	3.36	7.67	3.84	5.93	4.36	2.37	2.21
Net Debt to EBITDA	0.00	1.15	1.56	2.66	2.88	4.53	3.56	5.84	2.28	2.22	2.11
Long-Term Debt to EBITDA	0.00	1.53	1.80	2.88	3.33	7.67	3.81	5.36	4.30	2.32	2.16
Debt to NOPAT	0.00	2.89	4.60	6.69	4.30	21.64	8.95	10.09	7.61	3.94	3.75
Net Debt to NOPAT	0.00	2.12	3.65	6.05	3.68	12.77	8.29	9.95	3.98	3.69	3.57
Long-Term Debt to NOPAT	0.00	2.82	4.23	6.54	4.25	21.64	8.87	9.12	7.50	3.85	3.67
Altman Z-Score	0.00	0.00	3.36	2.86	2.73	1.46	2.01	1.79	2.12	2.60	2.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.83	1.65	1.76	1.88	3.24	1.82	1.76	2.59	0.72	0.70
Quick Ratio	0.00	1.34	1.23	1.23	1.32	2.69	0.33	0.10	2.31	0.44	0.41
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	42	-317	137	258	-100	449	-61	218	103	137
Operating Cash Flow to CapEx	750.00%	471.21%	-191.18%	344.09%	300.93%	395.43%	391.76%	215.30%	-22.60%	118.14%	114.66%
Free Cash Flow to Firm to Interest Expense	0.00	4.64	-7.54	2.17	3.54	-1.09	4.15	-0.88	5.68	1.44	1.85
Operating Cash Flow to Interest Expense	0.00	34.56	-3.10	5.08	4.45	4.04	3.73	4.10	-1.07	3.69	4.02
Operating Cash Flow Less CapEx to Interest Expense	0.00	27.22	-4.71	3.60	2.97	3.02	2.78	2.20	-5.78	0.57	0.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.06	1.11	1.21	1.22	0.28	0.33	0.37	0.46	0.61	0.67
Accounts Receivable Turnover	0.00	5.31	5.57	5.76	5.90	1.74	4.16	18.81	19.59	19.31	19.44
Inventory Turnover	0.00	8.50	8.33	8.43	8.54	2.17	5.34	26.75	28.68	27.40	25.56
Fixed Asset Turnover	0.00	5.95	5.83	5.64	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	6.67	7.09	7.99	9.05	2.37	5.32	18.17	10.98	8.47	8.90
Days Sales Outstanding (DSO)	0.00	68.69	65.50	63.42	61.85	209.36	87.68	19.40	18.64	18.90	18.78
Days Inventory Outstanding (DIO)	0.00	42.96	43.81	43.31	42.74	168.36	68.31	13.64	12.73	13.32	14.28
Days Payable Outstanding (DPO)	0.00	54.70	51.49	45.66	40.31	154.23	68.67	20.08	33.23	43.08	41.00
Cash Conversion Cycle (CCC)	0.00	56.94	57.83	61.07	64.28	223.50	87.32	12.96	-1.87	-10.86	-7.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	215	776	837	891	1,082	818	1,046	1,037	1,211	1,361
Invested Capital Turnover	0.00	17.94	4.21	2.83	2.77	0.74	1.09	1.33	1.39	1.44	1.33
Increase / (Decrease) in Invested Capital	0.00	215	561	61	54	191	-264	228	-9.30	175	150
Enterprise Value (EV)	0.00	0.00	5,217	4,979	5,055	4,551	7,061	6,133	5,300	6,419	5,587
Market Capitalization	0.00	0.00	4,324	3,784	3,906	3,393	5,529	4,469	4,470	5,393	4,565
Book Value per Share	$0.00	($1.94)	($0.58)	($1.88)	($1.37)	($0.41)	$0.74	$1.73	$1.47	$1.44	$2.66
Tangible Book Value per Share	$0.00	($3.51)	($2.23)	($4.23)	($4.05)	($3.27)	($2.81)	($2.01)	($3.44)	($4.04)	($3.16)
Total Capital	0.00	413	1,007	964	1,084	1,886	1,789	1,994	1,789	1,279	1,413
Total Debt	0.00	743	1,124	1,322	1,342	1,962	1,655	1,688	1,586	1,094	1,074
Total Long-Term Debt	0.00	724	1,034	1,292	1,327	1,962	1,640	1,525	1,562	1,070	1,050
Net Debt	0.00	545	893	1,195	1,149	1,158	1,532	1,664	830	1,026	1,022
Capital Expenditures (CapEx)	44	66	68	93	108	94	103	132	181	224	259
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	177	201	248	230	234	361	841	-158	-143	-132
Debt-free Net Working Capital (DFNWC)	0.00	349	402	344	389	994	483	864	598	-75	-80
Net Working Capital (NWC)	0.00	330	312	314	374	994	468	702	574	-99	-104
Net Nonoperating Expense (NNE)	17	-16	-60	32	104	-226	-236	-257	-1,211	66	76
Net Nonoperating Obligations (NNO)	0.00	545	893	1,195	1,149	1,158	683	739	833	1,026	1,022
Total Depreciation and Amortization (D&A)	38	42	42	54	61	41	62	71	89	106	119
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	9.18%	9.64%	10.85%	9.62%	32.19%	34.79%	68.02%	-10.97%	-8.83%	-7.69%
Debt-free Net Working Capital to Revenue	0.00%	18.09%	19.29%	15.05%	16.28%	136.73%	46.61%	69.91%	41.44%	-4.61%	-4.67%
Net Working Capital to Revenue	0.00%	17.11%	14.97%	13.74%	15.65%	136.73%	45.16%	56.77%	39.79%	-6.08%	-6.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.15	$1.60	$1.49	$0.84	$1.10	$1.70	$2.30	$0.00	$17.58	$3.26	$3.30
Adjusted Weighted Average Basic Shares Outstanding	170M	170M	204M	197M	189M	187M	182M	0.00	161.60M	130.10M	127.90M
Adjusted Diluted Earnings per Share	$1.15	$1.60	$1.49	$0.84	$1.10	$1.69	$2.29	$0.00	$17.46	$3.22	$3.28
Adjusted Weighted Average Diluted Shares Outstanding	170M	170M	204M	197M	189M	188M	183M	0.00	162.60M	131M	128.60M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	205.30M	202.53M	188.16M	188.40M	185.27M	180.04M	0.00	130.65M	128.37M	127.16M
Normalized Net Operating Profit after Tax (NOPAT)	228	257	244	198	312	91	185	167	208	278	287
Normalized NOPAT Margin	11.57%	13.31%	11.73%	8.64%	13.07%	12.47%	17.82%	13.53%	14.44%	17.15%	16.75%
Pre Tax Income Margin	15.10%	21.82%	23.51%	14.53%	11.09%	16.92%	25.07%	11.66%	16.38%	17.52%	17.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	47.78	12.67	6.27	4.63	2.34	3.40	3.08	7.17	4.94	4.95
NOPAT to Interest Expense	0.00	28.53	5.82	3.13	4.28	0.98	1.71	2.41	5.44	3.86	3.87
EBIT Less CapEx to Interest Expense	0.00	40.44	11.05	4.79	3.15	1.31	2.45	1.17	2.46	1.82	1.45
NOPAT Less CapEx to Interest Expense	0.00	21.20	4.20	1.66	2.80	-0.04	0.75	0.51	0.73	0.74	0.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	13.16%	43.98%	38.46%	26.63%	21.63%	21.02%	1.54%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	29.61%	239.76%	38.46%	45.51%	51.82%	54.63%	108.94%	107.23%	36.45%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	127,315,826.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	127,315,826.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.34
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.28%	12.20%	12.83%	12.01%	11.67%	10.95%	3.73%	4.18%	4.20%	11.47%	24.95%
EBITDA Growth	163.78%	90.48%	25.83%	11.97%	18.41%	105.60%	-2.24%	7.61%	-43.86%	-69.31%	29.73%
EBIT Growth	233.74%	132.03%	26.39%	8.70%	22.52%	143.60%	-6.87%	6.22%	-56.34%	-86.52%	28.61%
NOPAT Growth	-6.42%	-59.46%	27.02%	8.16%	93.41%	128.37%	-12.81%	1.53%	-44.09%	-87.93%	30.07%
Net Income Growth	-68.99%	-61.05%	-96.63%	-25.49%	88.75%	187.15%	-9.18%	23.09%	-72.91%	-135.81%	19.15%
EPS Growth	132.18%	-47.83%	-97.75%	-7.89%	-2.97%	195.83%	81.25%	-37.14%	-20.92%	-173.24%	20.69%
Operating Cash Flow Growth	-91.83%	328.74%	-42.51%	147.70%	1,232.89%	107.04%	-30.89%	14.95%	20.34%	57.28%	102.12%
Free Cash Flow Firm Growth	136.97%	-97.87%	-139.48%	-121.26%	-211.74%	-44.54%	84.04%	66.90%	-30.03%	-8,420.45%	-737.00%
Invested Capital Growth	-0.89%	2.94%	79.61%	28.53%	16.83%	8.86%	10.68%	11.32%	12.37%	58.16%	52.56%
Revenue Q/Q Growth	3.67%	-4.26%	4.10%	8.41%	3.35%	-4.87%	-2.68%	8.88%	3.37%	1.76%	9.09%
EBITDA Q/Q Growth	31.13%	-38.64%	17.14%	18.80%	38.67%	6.54%	-44.30%	30.77%	-27.66%	-41.76%	135.47%
EBIT Q/Q Growth	31.40%	-45.40%	22.56%	23.63%	48.11%	8.55%	-53.14%	41.00%	-39.12%	-66.49%	347.18%
NOPAT Q/Q Growth	-15.75%	-13.57%	24.20%	19.60%	50.64%	2.06%	-52.58%	39.26%	-17.05%	-77.97%	411.13%
Net Income Q/Q Growth	-20.62%	-34.76%	29.78%	10.87%	101.09%	-0.76%	-58.95%	50.27%	-55.75%	-231.20%	236.59%
EPS Q/Q Growth	165.79%	-88.12%	33.33%	118.75%	180.00%	-63.78%	-18.31%	-24.14%	252.27%	-133.55%	234.62%
Operating Cash Flow Q/Q Growth	104.80%	161.84%	243.22%	10.69%	33.99%	-59.33%	14.56%	84.11%	40.28%	-46.84%	47.22%
Free Cash Flow Firm Q/Q Growth	-93.13%	-76.41%	-3,109.26%	56.43%	63.88%	111.71%	-965.74%	9.60%	-41.88%	-649.37%	12.91%
Invested Capital Q/Q Growth	11.93%	6.60%	3.23%	4.35%	1.75%	-0.68%	4.95%	4.95%	2.71%	39.80%	1.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.03%	36.10%	37.61%	39.75%	39.10%	36.91%	37.33%	40.46%	39.11%	37.35%	37.12%
EBITDA Margin	35.10%	22.50%	25.32%	27.74%	37.22%	41.68%	23.86%	28.66%	20.05%	11.48%	24.77%
Operating Margin	18.00%	16.82%	19.66%	22.16%	30.91%	34.71%	16.59%	21.57%	18.62%	3.96%	17.07%
EBIT Margin	27.90%	15.91%	18.73%	21.36%	30.61%	34.93%	16.82%	21.78%	12.83%	4.22%	17.31%
Profit (Net Income) Margin	12.54%	8.54%	10.65%	10.89%	21.19%	22.11%	9.33%	12.87%	5.51%	-7.10%	8.89%
Tax Burden Percent	49.95%	69.65%	72.25%	70.40%	80.05%	72.01%	73.87%	73.38%	67.20%	546.67%	75.29%
Interest Burden Percent	89.98%	77.10%	78.71%	72.44%	86.50%	87.91%	75.07%	80.54%	63.92%	-30.77%	68.23%
Effective Tax Rate	23.39%	25.98%	24.43%	26.07%	22.72%	26.18%	24.75%	25.97%	31.18%	0.00%	23.87%
Return on Invested Capital (ROIC)	19.12%	16.96%	25.57%	24.36%	34.41%	36.86%	17.40%	21.48%	17.04%	3.14%	15.15%
ROIC Less NNEP Spread (ROIC-NNEP)	18.50%	15.36%	16.05%	21.68%	33.15%	35.41%	16.18%	20.19%	13.80%	-0.41%	13.55%
Return on Net Nonoperating Assets (RNNOA)	57.06%	79.15%	3.85%	95.40%	158.48%	242.00%	109.75%	100.67%	53.94%	-1.97%	58.25%
Return on Equity (ROE)	76.18%	96.11%	29.41%	119.76%	192.88%	278.86%	127.14%	122.16%	70.98%	1.17%	73.40%
Cash Return on Invested Capital (CROIC)	20.91%	16.40%	-31.90%	-3.43%	9.19%	20.73%	17.30%	15.58%	10.63%	-35.56%	-31.48%
Operating Return on Assets (OROA)	12.77%	7.54%	8.13%	12.54%	18.60%	22.92%	10.80%	14.93%	8.59%	2.58%	10.95%
Return on Assets (ROA)	5.74%	4.05%	4.62%	6.39%	12.88%	14.51%	5.99%	8.82%	3.69%	-4.34%	5.63%
Return on Common Equity (ROCE)	76.18%	96.11%	29.41%	119.76%	192.88%	278.86%	127.14%	122.16%	70.98%	1.17%	73.40%
Return on Equity Simple (ROE_SIMPLE)	0.00%	2,113.73%	305.82%	157.84%	0.00%	118.02%	107.52%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	54	46	58	69	104	106	50	70	58	13	65
NOPAT Margin	13.79%	12.45%	14.85%	16.39%	23.88%	25.62%	12.48%	15.97%	12.81%	2.77%	13.00%
Net Nonoperating Expense Percent (NNEP)	0.62%	1.60%	9.52%	2.68%	1.26%	1.45%	1.22%	1.30%	3.24%	3.55%	1.60%
Return On Investment Capital (ROIC_SIMPLE)	-	2.83%	-	-	-	8.41%	3.80%	5.03%	4.12%	0.65%	3.26%
Cost of Revenue to Revenue	61.97%	63.90%	62.39%	60.25%	60.90%	63.09%	62.67%	59.54%	60.89%	62.65%	62.88%
SG&A Expenses to Revenue	18.03%	19.95%	18.60%	18.32%	18.62%	19.99%	21.40%	19.48%	21.00%	23.13%	19.59%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.03%	19.28%	17.96%	17.58%	8.20%	2.20%	20.73%	18.88%	20.49%	33.39%	20.05%
Earnings before Interest and Taxes (EBIT)	109	59	73	90	133	145	68	96	58	20	87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	137	84	98	117	162	173	96	126	91	53	125
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	22.00	80.42	96.15	52.27	29.06	20.21	17.79	15.35	13.49	12.01	12.14
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.10	3.51	3.78	3.54	3.33	2.80	2.64	2.85	2.67	2.10	2.31
Price to Earnings (P/E)	3.07	3.71	30.00	31.86	25.90	17.34	16.78	17.36	22.16	44.57	48.45
Dividend Yield	1.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	32.53%	26.95%	3.33%	3.14%	3.86%	5.77%	5.96%	5.76%	4.51%	2.24%	2.06%
Enterprise Value to Invested Capital (EV/IC)	5.11	5.66	6.01	5.59	5.30	4.67	4.31	4.40	4.11	2.78	3.04
Enterprise Value to Revenue (EV/Rev)	3.67	4.21	4.49	4.23	3.96	3.38	3.25	3.44	3.27	3.01	3.15
Enterprise Value to EBITDA (EV/EBITDA)	14.58	15.49	16.19	15.25	13.91	10.21	9.93	10.46	11.50	14.45	14.85
Enterprise Value to EBIT (EV/EBIT)	19.29	20.26	21.18	20.09	18.06	12.74	12.48	13.20	15.25	21.94	22.50
Enterprise Value to NOPAT (EV/NOPAT)	25.43	29.73	30.85	29.17	23.11	16.67	16.49	17.62	19.50	35.89	36.23
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	38.80	24.21	19.61	20.50	21.06	18.80	16.49	15.88
Enterprise Value to Free Cash Flow (EV/FCFF)	24.34	34.99	0.00	0.00	62.18	23.49	26.16	29.74	40.86	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	7.81	24.39	26.21	10.79	5.89	4.50	4.33	3.44	3.17	5.41	4.69
Long-Term Debt to Equity	7.69	24.02	15.83	10.57	5.77	4.39	4.23	3.37	3.10	5.31	4.61
Financial Leverage	3.08	5.15	0.24	4.40	4.78	6.83	6.78	4.99	3.91	4.78	4.30
Leverage Ratio	12.37	17.68	4.92	13.68	13.71	17.17	16.89	11.75	9.75	10.70	9.76
Compound Leverage Factor	11.13	13.63	3.87	9.91	11.85	15.10	12.68	9.47	6.23	-3.29	6.66
Debt to Total Capital	88.64%	96.06%	96.32%	91.52%	85.49%	81.80%	81.22%	77.49%	76.04%	84.40%	82.44%
Short-Term Debt to Total Capital	1.33%	1.45%	38.15%	1.89%	1.86%	1.88%	1.80%	1.71%	1.69%	1.58%	1.55%
Long-Term Debt to Total Capital	87.31%	94.62%	58.18%	89.63%	83.63%	79.92%	79.42%	75.78%	74.35%	82.82%	80.89%
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%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	11.36%	3.94%	3.68%	8.48%	14.51%	18.20%	18.78%	22.51%	23.96%	15.60%	17.56%
Debt to EBITDA	4.36	3.92	3.72	2.64	2.37	1.88	1.96	1.94	2.21	4.55	4.20
Net Debt to EBITDA	2.28	2.58	2.55	2.48	2.22	1.77	1.85	1.82	2.11	4.36	3.99
Long-Term Debt to EBITDA	4.30	3.86	2.25	2.58	2.32	1.83	1.92	1.90	2.16	4.46	4.12
Debt to NOPAT	7.61	7.52	7.08	5.04	3.94	3.06	3.26	3.27	3.75	11.29	10.25
Net Debt to NOPAT	3.98	4.95	4.86	4.75	3.69	2.89	3.07	3.06	3.57	10.82	9.72
Long-Term Debt to NOPAT	7.50	7.40	4.28	4.94	3.85	2.99	3.19	3.19	3.67	11.08	10.05
Altman Z-Score	1.93	1.98	1.81	2.24	2.30	2.28	2.05	2.16	1.98	1.31	1.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.59	2.24	0.73	0.73	0.72	0.70	0.73	0.73	0.70	0.70	0.73
Quick Ratio	2.31	1.97	0.63	0.46	0.44	0.48	0.47	0.48	0.41	0.46	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	63	15	-448	-195	-70	8.25	-71	-65	-92	-687	-598
Operating Cash Flow to CapEx	13.92%	47.04%	152.12%	114.89%	141.88%	76.87%	91.12%	158.29%	123.26%	112.89%	165.05%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.47	0.43	0.59	0.61	0.66	0.64	0.69	0.67	0.61	0.63
Accounts Receivable Turnover	19.59	21.14	17.91	18.58	19.31	19.74	17.11	18.07	19.44	19.19	20.80
Inventory Turnover	28.68	29.46	26.71	26.29	27.40	29.44	26.16	25.54	25.56	24.96	25.67
Fixed Asset Turnover	0.00	1.93	1.91	1.86	0.00	1.87	1.79	1.71	0.00	1.63	1.66
Accounts Payable Turnover	10.98	14.92	9.27	9.57	8.47	12.36	9.34	9.98	8.90	10.71	10.63
Days Sales Outstanding (DSO)	18.64	17.27	20.38	19.65	18.90	18.49	21.33	20.20	18.78	19.02	17.55
Days Inventory Outstanding (DIO)	12.73	12.39	13.66	13.88	13.32	12.40	13.95	14.29	14.28	14.62	14.22
Days Payable Outstanding (DPO)	33.23	24.46	39.38	38.14	43.08	29.52	39.09	36.56	41.00	34.09	34.34
Cash Conversion Cycle (CCC)	-1.87	5.19	-5.33	-4.61	-10.86	1.37	-3.81	-2.07	-7.94	-0.45	-2.57
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,037	1,105	1,141	1,190	1,211	1,203	1,263	1,325	1,361	1,903	1,926
Invested Capital Turnover	1.39	1.36	1.72	1.49	1.44	1.44	1.39	1.35	1.33	1.13	1.17
Increase / (Decrease) in Invested Capital	-9.30	32	506	264	175	98	122	135	150	700	664
Enterprise Value (EV)	5,300	6,251	6,859	6,650	6,419	5,618	5,438	5,825	5,587	5,290	5,861
Market Capitalization	4,470	5,211	5,778	5,567	5,393	4,645	4,424	4,814	4,565	3,695	4,288
Book Value per Share	$1.47	$0.49	$0.46	$0.83	$1.44	$1.79	$1.96	$2.47	$2.66	$2.42	$2.77
Tangible Book Value per Share	($3.44)	($4.71)	($4.88)	($4.56)	($4.04)	($3.58)	($3.48)	($3.14)	($3.16)	($7.84)	($7.28)
Total Capital	1,789	1,645	1,635	1,256	1,279	1,263	1,324	1,393	1,413	1,972	2,011
Total Debt	1,586	1,581	1,575	1,150	1,094	1,033	1,076	1,080	1,074	1,665	1,658
Total Long-Term Debt	1,562	1,557	951	1,126	1,070	1,009	1,052	1,056	1,050	1,634	1,627
Net Debt	830	1,040	1,081	1,084	1,026	973	1,014	1,011	1,022	1,595	1,573
Capital Expenditures (CapEx)	55	42	45	66	71	54	52	55	99	57	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-158	-123	-133	-137	-143	-127	-124	-133	-132	-147	-153
Debt-free Net Working Capital (DFNWC)	598	417	362	-71	-75	-67	-62	-65	-80	-77	-68
Net Working Capital (NWC)	574	393	-262	-95	-99	-91	-86	-89	-104	-109	-99
Net Nonoperating Expense (NNE)	4.88	15	16	23	12	15	13	14	33	46	21
Net Nonoperating Obligations (NNO)	833	1,040	1,081	1,084	1,026	973	1,014	1,011	1,022	1,595	1,573
Total Depreciation and Amortization (D&A)	28	25	26	27	29	28	28	30	33	34	38
Debt-free, Cash-free Net Working Capital to Revenue	-10.97%	-8.31%	-8.70%	-8.70%	-8.83%	-7.66%	-7.39%	-7.86%	-7.69%	-8.38%	-8.21%
Debt-free Net Working Capital to Revenue	41.44%	28.10%	23.65%	-4.52%	-4.61%	-4.04%	-3.69%	-3.82%	-4.67%	-4.40%	-3.65%
Net Working Capital to Revenue	39.79%	26.49%	-17.16%	-6.04%	-6.08%	-5.48%	-5.11%	-5.23%	-6.06%	-6.18%	-5.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.05	$0.24	$0.32	$0.70	$2.00	$0.71	$0.58	$0.44	$1.57	($0.52)	$0.70
Adjusted Weighted Average Basic Shares Outstanding	161.60M	131.80M	129.80M	129.40M	130.10M	128.70M	127.60M	127.60M	127.90M	127.70M	127.80M
Adjusted Diluted Earnings per Share	$2.02	$0.24	$0.32	$0.70	$1.96	$0.71	$0.58	$0.44	$1.55	($0.52)	$0.70
Adjusted Weighted Average Diluted Shares Outstanding	162.60M	132.70M	130.70M	130.20M	131M	129.50M	128.20M	128.20M	128.60M	127.70M	128.40M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	130.65M	129.65M	128.85M	128.87M	128.37M	127.10M	127.11M	127.11M	127.16M	127.32M	127.54M
Normalized Net Operating Profit after Tax (NOPAT)	54	46	58	69	104	106	50	70	58	13	65
Normalized NOPAT Margin	13.79%	12.45%	14.85%	16.39%	23.88%	25.62%	12.48%	15.97%	12.81%	2.77%	13.00%
Pre Tax Income Margin	25.10%	12.27%	14.74%	15.47%	26.48%	30.70%	12.62%	17.54%	8.20%	-1.30%	11.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	108.94%	117.48%	805.01%	203.15%	107.23%	37.17%	34.18%	32.88%	36.45%	36.04%	0.00%

Financials Breakdown Chart

Key Financial Trends

Valvoline Inc. (VVV) data from the last four years shows a company with a historically solid revenue base and positive cash flow, but with meaningful balance-sheet leverage and occasional large investing activity. Here are the most relevant trends for retail investors based on quarterly statements.

Q1 2026 revenue was $461.8 million, up modestly from Q4 2025’s $453.8 million, indicating a sequential uptick in topline activity.
Q1 2026 gross profit was $172.5 million, implying a gross margin of about 37% (172.5 / 461.8), which supports ongoing profitability at the gross level.
Q1 2026 cash flow from continuing operating activities was $64.8 million, continuing a pattern of positive cash generation from core operations.
Debt financing provided a liquidity bump in Q1 2026, with a $740 million debt issuance and net financing cash flow of about $584.7 million, supporting a strong near-term liquidity position.
Valvoline held cash and equivalents of about $69.9 million at Q1 2026, giving a modest liquidity cushion despite sizable investing activity.

Over the four-year horizon, quarterly revenue generally ranges in the roughly $380–$462 million band, suggesting a relatively stable topline with periodic volatility.
As of Q1 2026, the balance sheet shows total assets around $3.402 billion, with total liabilities near $3.094 billion and total equity about $0.308 billion, indicating a leveraged balance sheet but a defined asset base.

Q1 2026 net income attributable to common shareholders was negative, at about -$31.5 million, with basic/diluted earnings per share of -$0.52, marking a clear quarterly profit reversal.
Q1 2026 investing activity was highly negative due to acquisitions totaling about $635.6 million, and net cash from continuing investing activities was about -$631.4 million, signaling a heavy one-quarter deployment of capital.
Leverage remains a concern: long-term debt around $1.636 billion plus other liabilities, with cash around $69.9 million, implies a sizable net debt burden and a high liabilities-to-equity balance.

05/13/26 11:03 PM ETAI Generated. May Contain Errors.

Valvoline Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Valvoline's fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Valvoline's net income appears to be on an upward trend, with a most recent value of $210.70 million in 2025, rising from $196 million in 2015. The previous period was $211.50 million in 2024. See where experts think Valvoline is headed by visiting Valvoline's forecast page.

Valvoline's total operating income in 2025 was $389.90 million, based on the following breakdown:

Total Gross Profit: $658.50 million
Total Operating Expenses: $268.60 million

Over the last 10 years, Valvoline's total revenue changed from $1.97 billion in 2015 to $1.71 billion in 2025, a change of -13.1%.

Valvoline's total liabilities were at $2.33 billion at the end of 2025, a 3.5% increase from 2024, and a 8.2% increase since 2016.

In the past 9 years, Valvoline's cash and equivalents has ranged from $23.40 million in 2022 to $760 million in 2020, and is currently $51.60 million as of their latest financial filing in 2025.

Over the last 10 years, Valvoline's book value per share changed from 0.00 in 2015 to 2.66 in 2025, a change of 266.3%.

Related Companies

Financial statements for NYSE:VVV last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Valvoline (VVV) Financials

Financials Breakdown Chart

Key Financial Trends

Valvoline Financials - Frequently Asked Questions

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Valvoline (VVV) Financials

Annual Income Statements for Valvoline

Quarterly Income Statements for Valvoline

Annual Cash Flow Statements for Valvoline

Quarterly Cash Flow Statements for Valvoline

Annual Balance Sheets for Valvoline

Quarterly Balance Sheets for Valvoline

Annual Metrics And Ratios for Valvoline

Quarterly Metrics And Ratios for Valvoline

Financials Breakdown Chart

Key Financial Trends

Valvoline Financials - Frequently Asked Questions

When does Valvoline's financial year end?

How has Valvoline's net income changed over the last 10 years?

What is Valvoline's operating income?

How has Valvoline's revenue changed over the last 10 years?

How much debt does Valvoline have?

How much cash does Valvoline have?

How has Valvoline's book value per share changed over the last 10 years?

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