Earnings slid into a loss. Loss per share this year after a profit last year.
Valhi made a loss per share in its latest year after a profit the year before.
Valuation signals disagree. Cheaper than 90% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Valhi looks cheaper than 90% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits. Since 2022: revenue −6.5%, operating profit −74%.
Since 2022, Valhi's revenue changed −6.5% while operating profit fell 74%: costs rose faster than sales.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $22M profit in the quarter to June 2026.
Valhi reported a net loss over the last twelve months, but its most recent quarter was profitable ($22M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 86 → 85
Share price +2.1%-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-12.3%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364
EBITDA yield18.6%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 1.93Sector median: 0.0854 · MAD: 0.0520
Free cash flow yield15.2%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 4.81Sector median: 0.0261 · MAD: 0.0261
Why it changed since the Oct 27, 2026 close: Score 22 → 23
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Why it changed since the Oct 27, 2026 close: Safety percentile 58 → 59
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Valhi
Is Valhi getting weaker?
Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 50/100 since Oct 28, 2026.
How is Valhi valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 85/100 against 1,371 basic materials peers.Free cash flow yield 15.2% vs a peer median of 2.6% (stronger than 90% of peers).Free cash flow yield 15.2% vs peers 2.6% (stronger than 90% of peers).Earnings yield -12.3% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -12.3% vs peers 3.6% (weaker than 100% of peers).
Is Valhi growing?
More slowly than most of its peers. Growth scores 35/100 against 1,371 basic materials peers.3-year revenue growth 3.4% vs a peer median of -0.0% (stronger than 63% of peers).3-year revenue growth 3.4% vs peers -0.0% (stronger than 63% of peers).
How profitable is Valhi?
Less profitable than most of its peers. Profitability scores 23/100 against 1,371 basic materials peers.Return on assets -2.0% vs a peer median of 2.5% (weaker than 85% of peers).Return on assets -2.0% vs peers 2.5% (weaker than 85% of peers).
How risky is Valhi?
Moderate risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 3.37× vs a peer median of 1.76× (stronger than 81% of peers).Current ratio 3.37× vs peers 1.76× (stronger than 81% of peers).Beta 1.02 vs a peer median of 0.69 (weaker than 74% of peers).Beta 1.02 vs peers 0.69 (weaker than 74% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
2.1B USD
2.2B USD
+3.1%
Net income (12 months)
−72.5M USD
−51.1M USD
−29.5%
Operating margin
2.2%
3.6%
+1.4 pts
Free cash flow (12 months)
29.9M USD
62.7M USD
+109.7%
Debt
625.3M USD
587.5M USD
−6.0%
Cash
193.7M USD
209.7M USD
+8.3%
Shares outstanding
28.3M
28.3M
+0.1%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Basic Materials · 121 companies
Valuations in Basic Materials are near the top of their range since 2016.
84% of months since 2016 were valued lower than now.
43% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +23% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is −9% vs the whole market, against a usual −27%.
2016Shaded: most expensive fifth of its range2026
Valhi looks cheaper than most of its peers on our valuation measures, while the Basic Materials sector as a whole is valued high by its own standards since 2016. Both can be true at once.
Shown for Basic Materials: too few Chemicals companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
25.3%
22.1%
12.8%
20.2%
14.2%
▼ 5.9 pts
Operating margin
13.9%
10.8%
1.8%
10.0%
3.0%
▼ 7.0 pts
Net margin
5.5%
3.9%
-0.5%
5.1%
-2.8%
▼ 7.9 pts
Return on assets (ROA)
4.2%
3.1%
-0.4%
3.9%
-2.2%
▼ 6.0 pts
Return on equity (ROE)
15.3%
9.1%
-1.0%
10.4%
-5.6%
▼ 16 pts
Free cash flow margin
17.2%
-1.5%
-2.3%
0.6%
-4.0%
▼ 4.6 pts
Current ratio
3.61×
3.23×
2.91×
2.26×
2.80×
▲ 24%
Quick ratio
2.62×
1.93×
1.73×
1.19×
1.33×
▲ 12%
Debt to equity
0.79×
0.58×
0.57×
0.54×
0.58×
▲ 6.3%
Interest coverage
9.80×
8.58×
1.21×
4.22×
1.11×
▼ 74%
VHI price history
Price history is added with the daily price update and will appear after the next one.