Revenue
$2.08B
Fiscal year ended 2025-12-31Operating income
$63.30M
Fiscal year ended 2025-12-31Free cash flow
-$82.10M
Fiscal year ended 2025-12-31VALHI INC /DE/ (VHI) reported revenue of $2.08B and net income of -$57.60M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from VALHI INC /DE/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Industrial Inorganic Chemicals.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.08B | $2.10B | $1.92B | $2.22B | $2.30B | $1.85B | $1.90B | $1.82B | $1.88B | $1.52B |
| Cost of revenue | $1.78B | $1.68B | $1.68B | $1.73B | $1.72B | $1.44B | $1.46B | $1.21B | $1.27B | $1.21B |
| Gross profit | $295.40M | $424.50M | $245.20M | $490.40M | $580.20M | $412.10M | $434.60M | $609.20M | $612.90M | $307.90M |
| Operating income | $63.30M | $210.70M | $34.20M | $239.40M | $318.60M | $186.10M | $192.70M | $370.70M | $380.30M | $119.20M |
| Net income | -$57.60M | $108.00M | -$9.90M | $87.20M | $127.20M | $55.20M | $49.20M | $262.20M | $207.50M | -$15.90M |
| Research & development | $17.00M | $14.00M | $18.00M | $16.00M | $17.00M | $16.00M | $17.00M | $16.00M | $19.00M | $13.00M |
| Weighted-average diluted shares | Unavailable | Unavailable | Unavailable | Unavailable | shares 28.50M | shares 28.50M | shares 28.50M | Unavailable | Unavailable | Unavailable |
| Pretax income | -$43.00M | $244.20M | -$19.50M | $169.90M | $257.80M | $100.60M | $104.70M | $236.20M | $291.80M | $39.60M |
| Income tax expense | $11.90M | $82.90M | -$24.60M | $36.80M | $60.10M | $15.90M | $26.50M | -$30.70M | -$120.00M | $18.60M |
| Diluted EPS | $-2.02 | $3.79 | $-0.35 | $3.06 | $4.46 | $1.94 | $1.73 | Unavailable | Unavailable | Unavailable |
| Selling, general & administrative | $312.30M | $256.20M | $277.40M | $304.00M | $311.90M | $283.60M | $294.20M | $310.00M | $262.60M | $232.60M |
| General & administrative | $35.00M | $4.30M | $35.20M | $36.60M | $34.60M | $34.30M | $37.50M | $42.40M | $34.70M | $37.60M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $214.00M | $348.30M | $407.00M | $478.50M | $698.40M | $518.60M | $523.80M | $499.80M | $435.70M | $159.70M |
| Total assets | $2.63B | $2.80B | $2.74B | $2.84B | $3.01B | $2.89B | $2.79B | $2.71B | $2.91B | $2.44B |
| Current assets | $1.26B | $1.45B | $1.48B | $1.59B | $1.67B | $1.45B | $1.43B | $1.41B | $1.26B | $837.40M |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $449.30M | $643.80M | $507.10M | $492.80M | $463.50M | $318.10M | $322.50M | $351.00M | $331.10M | $294.10M |
| Total equity incl. NCI | $1.36B | $1.38B | $1.28B | $1.32B | $1.17B | $1.01B | $980.10M | $989.00M | $766.70M | $444.40M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $659.80M | $685.80M | $596.10M | $640.80M | $458.70M | $538.20M | $522.10M | $515.80M | $398.40M | $359.20M |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $382.30M | $382.30M | $379.70M | $379.70M | $379.70M | $379.70M | $379.70M | $379.70M | $379.70M | $379.70M |
| Long-term debt | $590.90M | $484.40M | $545.80M | $557.70M | $649.90M | $786.20M | $789.40M | $797.50M | $1.04B | $889.30M |
| Accounts payable | $231.30M | $250.00M | $228.50M | $199.40M | $152.70M | $117.60M | $144.70M | $111.50M | $116.10M | $92.80M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$35.50M | $44.00M | $3.90M | $34.90M | $459.70M | $152.20M | $177.20M | $165.50M | $259.30M | $79.80M |
| Capital expenditures | $46.60M | $30.90M | $48.50M | $67.60M | $64.10M | $65.50M | $59.90M | $61.40M | $71.30M | $58.90M |
| Investing cash flow | -$47.80M | -$125.00M | -$29.00M | -$146.70M | -$37.40M | -$57.00M | -$50.70M | -$57.00M | -$74.40M | -$61.60M |
| Financing cash flow | -$71.10M | -$2.30M | -$75.90M | -$114.00M | -$189.10M | -$122.50M | -$64.10M | -$59.80M | $93.60M | -$45.50M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | $222.60M | -$13.50M | $60.10M | $34.30M | $292.90M | -$32.60M |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $9.10M | $9.10M | $9.10M | $9.00M | $9.00M | $13.60M | $27.10M | $27.10M | $27.20M | $27.10M |
| Common share repurchases | Unavailable | Unavailable | $2.90M | $4.00M | $1.50M | $1.00M | $3.10M | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $66.40M | $66.70M | $54.10M | $58.50M | $59.30M | $68.50M | $56.80M | $58.40M | $59.00M | $67.50M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$82.10M | $13.10M | -$44.60M | -$32.70M | $395.60M | $86.70M | $117.30M | $104.10M | $188.00M | $20.90M |
| Gross margin | 14.2% | 20.2% | 12.8% | 22.1% | 25.3% | 22.3% | 22.9% | 33.5% | 32.6% | 20.3% |
| Operating margin | 3.0% | 10.0% | 1.8% | 10.8% | 13.9% | 10.1% | 10.2% | 20.4% | 20.2% | 7.8% |
| FCF margin | -4.0% | 0.6% | -2.3% | -1.5% | 17.2% | 4.7% | 6.2% | 5.7% | 10.0% | 1.4% |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | 2.80x | 2.26x | 2.91x | 3.23x | 3.61x | 4.57x | 4.42x | 4.01x | 3.81x | 2.85x |
| Revenue YoY growth | -1.3% | 9.5% | -13.5% | -3.2% | 24.1% | -2.5% | 4.3% | -3.2% | 23.7% | Unavailable |
| Net margin | -2.8% | 5.1% | -0.5% | 3.9% | 5.5% | 3.0% | 2.6% | 14.4% | 11.0% | -1.0% |
| R&D / revenue | 0.8% | 0.7% | 0.9% | 0.7% | 0.7% | 0.9% | 0.9% | 0.9% | 1.0% | 0.9% |
| CapEx / revenue | 2.2% | 1.5% | 2.5% | 3.0% | 2.8% | 3.5% | 3.2% | 3.4% | 3.8% | 3.9% |
| Long-term debt / equity | 0.43x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | 33.9% | Unavailable | 21.7% | 23.3% | 15.8% | 25.3% | -13.0% | -41.1% | 47.0% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open VHI in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-03-10View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-08View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.