Valuation, from the filing
| Public float | $39.40M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $1.39 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 0.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
0.4× earnings today, against a median of 0.5× across 7 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2024-06-30 | $43.40M | 0.4× | |
| 2022-06-30 | $109.60M | 1.3× | |
| 2021-06-30 | $58.80M | 0.5× | |
| 2020-06-30 | $25.30M | 0.5× | |
| 2019-06-28 | $85.60M | 1.7× | |
| 2018-06-30 | $137.00M | 0.5× | |
| 2017-06-30 | $74.70M | 0.4× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Industrial Inorganic Chemicals filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| CapEx / revenue | 2.2% | 14th | |
| Long-term debt / equity | 0.43x | 17th | |
| FCF margin | -4.0% | 17th | |
| Current ratio | 2.80x | 80th | |
| Gross margin | 14.2% | 29th | |
| R&D / revenue | 0.8% | 57th | |
| Net margin | -2.8% | 44th | |
| Operating margin | 3.0% | 56th | |
| Revenue YoY growth | -1.3% | 50th |
VALHI INC /DE/ (VHI) reported revenue of $606.10M and net income of $22.30M for the fiscal year ended 2026-06-30. 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 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $606.10M | $560.10M | $494.50M | $503.50M | $540.40M | $538.60M | $480.90M | $533.60M | $559.70M | $530.60M |
| Cost of revenue | $486.00M | $457.10M | $460.30M | $442.90M | $462.30M | $416.10M | $380.30M | $417.30M | $438.40M | $444.30M |
| Gross profit | $120.10M | $103.00M | $34.20M | $60.60M | $78.10M | $122.50M | $100.60M | $116.30M | $121.30M | $86.30M |
| Operating income | $67.70M | $32.90M | -$30.90M | $8.60M | $35.50M | $50.10M | $56.70M | $67.70M | $54.80M | $31.50M |
| Net income | $22.30M | $2.00M | -$53.20M | -$22.20M | $900.00K | $16.90M | $22.80M | $57.50M | $19.90M | $7.80M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 28.50M | shares 28.50M | Unavailable | shares 28.50M | shares 28.50M | shares 28.50M | Unavailable | shares 28.50M | shares 28.50M | shares 28.50M |
| Pretax income | $47.30M | $14.10M | -$81.70M | -$7.60M | $15.50M | $30.80M | $68.70M | $119.90M | $37.60M | $18.00M |
| Income tax expense | $11.80M | $6.30M | -$18.40M | $14.30M | $8.00M | $8.00M | $36.30M | $34.30M | $7.90M | $4.40M |
| Diluted EPS | $0.78 | $0.07 | Unavailable | $-0.78 | $0.03 | $0.59 | Unavailable | $2.01 | $0.70 | $0.27 |
| Selling, general & administrative | $78.80M | $77.50M | $77.00M | $77.60M | $79.20M | $78.50M | $38.50M | $74.20M | $74.90M | $68.60M |
| General & administrative | $9.00M | $7.30M | $8.40M | $9.50M | $9.20M | $7.90M | -$22.50M | $8.50M | $10.30M | $7.80M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $209.70M | $193.70M | $214.00M | $183.50M | $188.50M | $194.50M | $348.30M | $314.60M | $373.10M | $341.00M |
| Total assets | $2.57B | $2.61B | $2.63B | $2.72B | $2.76B | $2.76B | $2.80B | $2.79B | $2.53B | $2.56B |
| Current assets | $1.22B | $1.25B | $1.26B | $1.34B | $1.37B | $1.41B | $1.45B | $1.41B | $1.32B | $1.33B |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $361.20M | $386.00M | $449.30M | $369.00M | $483.10M | $528.60M | $643.80M | $503.70M | $378.80M | $385.20M |
| Total equity incl. NCI | $1.40B | $1.37B | $1.36B | $1.40B | $1.43B | $1.41B | $1.38B | $1.37B | $1.29B | $1.26B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $530.90M | $580.10M | $659.80M | $690.90M | $717.20M | $729.70M | $685.80M | $577.40M | $475.40M | $504.10M |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $382.30M | $382.30M | $382.30M | $382.30M | $382.30M | $382.30M | $382.30M | $382.30M | $379.70M | $379.70M |
| Long-term debt | $586.70M | $624.50M | $590.90M | $661.50M | $544.80M | $525.90M | $484.40M | $526.60M | $497.40M | $511.20M |
| Accounts payable | $179.20M | $209.40M | $231.30M | $166.90M | $195.20M | $218.80M | $250.00M | $163.60M | $139.20M | $151.40M |
Cash flow
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $59.10M | -$46.10M | $100.60M | -$1.90M | $21.70M | -$155.90M | $45.80M | $13.50M | $33.50M | -$48.80M |
| Capital expenditures | $17.20M | $10.60M | $10.80M | $10.40M | $12.60M | $12.80M | $12.50M | $9.60M | $3.80M | $5.00M |
| Investing cash flow | -$11.70M | -$9.50M | -$11.00M | -$12.10M | -$12.40M | -$12.30M | -$7.40M | -$151.60M | $14.50M | $19.50M |
| Financing cash flow | -$40.10M | $42.50M | -$85.20M | $14.80M | -$20.60M | $19.90M | -$20.40M | $71.30M | -$21.20M | -$32.00M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $2.20M | $2.30M | $2.30M | $2.30M | $2.20M | $2.30M | $2.30M | $2.30M | $2.20M | $2.30M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $0 | $0 | $0 |
| Depreciation & amortization | $17.10M | $16.90M | $17.40M | $17.10M | $16.50M | $15.40M | $15.50M | $18.80M | $19.90M | $12.50M |
Derived
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $41.90M | -$56.70M | $89.80M | -$12.30M | $9.10M | -$168.70M | $33.30M | $3.90M | $29.70M | -$53.80M |
| Gross margin | 19.8% | 18.4% | 6.9% | 12.0% | 14.5% | 22.7% | 20.9% | 21.8% | 21.7% | 16.3% |
| Operating margin | 11.2% | 5.9% | -6.2% | 1.7% | 6.6% | 9.3% | 11.8% | 12.7% | 9.8% | 5.9% |
| FCF margin | 6.9% | -10.1% | 18.2% | -2.4% | 1.7% | -31.3% | 6.9% | 0.7% | 5.3% | -10.1% |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | 3.37x | 3.25x | 2.80x | 3.64x | 2.83x | 2.67x | 2.26x | 2.79x | 3.49x | 3.45x |
| Revenue YoY growth | 12.2% | 4.0% | 2.8% | -5.6% | -3.4% | 1.5% | 6.2% | 13.8% | 10.4% | 7.7% |
| Net margin | 3.7% | 0.4% | -10.8% | -4.4% | 0.2% | 3.1% | 4.7% | 10.8% | 3.6% | 1.5% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 2.8% | 1.9% | 2.2% | 2.1% | 2.3% | 2.4% | 2.6% | 1.8% | 0.7% | 0.9% |
| Long-term debt / equity | 0.42x | Unavailable | 0.43x | 0.47x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 24.9% | 44.7% | Unavailable | Unavailable | 51.6% | 26.0% | 52.8% | 28.6% | 21.0% | 24.4% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.