MARKETS / NYSE / VHI

NYSE · INDUSTRIAL INORGANIC CHEMICALS · SMALL CAP

Valhi Inc. VHI

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.1B

▼ 1.3% YoY

Net income

$-57.6M

▼ 153.3% YoY

Free cash flow

$-82.1M

▼ 726.7% YoY

In brief

What this company does

Valhi operates through three consolidated reportable segments: Chemicals, Component Products, and Real Estate Management and Development. Kronos is a global producer and marketer of value-added titanium dioxide pigments, which are used to impart whiteness, brightness, opacity and durability to a wide variety of products, including paints, plastics, paper, fibers and ceramics. Kronos, along with its distributors and agents, sells and provides technical services for its products to approximately 3,000 customers in 100 countries, with the majority of sales in Europe, North America and the Asia Pacific region. CompX manufactures security products used in the postal, recreational transportation, office and institutional furniture, cabinetry, tool storage, healthcare and other industries, as well as wake enhancement systems, stainless steel exhaust systems, gauges, throttle controls, trim tabs and related hardware and accessories for the recreational marine and other industries. BMI and LandWell own real property in Henderson, Nevada, and LandWell is engaged in efforts to develop certain land holdings for commercial, industrial and residential purposes there. LLC Corporation, its legal predecessor, was incorporated in Delaware in 1932. Valhi is the successor company of the 1987 merger of LLC Corporation and another entity controlled by Contran Corporation.

Written from the business description in Valhi, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 10 March 2026. Every sentence was checked against that document before publication.

Growth

USD 2.1B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.1 · Net income -0.1

Compound annual growth

Revenue

−2.2%

+2.3%

+3.4%

+2.0%

Dividend / share

+0.0%

Returned to shareholders

−11.2%

−9.0%

−10.3%

−10.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−3 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating 3.0% · Net -2.6%

ROE

FY2025 · ROE -5.6%

Gross margin14.2%

Operating margin3.0%

Net margin-2.6%

Return on assets-2.0%

EBITDA—

Each USD of equity lost 6 cents this year.

Cash & shareholders

USD 9.1M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF -82.1

Net buybacks $M Dividends $M

FY2025 · Dividends 9.1 · Net buybacks —

Dividends paidUSD 9.1M

Net buybacks—

Share of profit-15.8%

Consecutive raises—

USD 9.1M in dividends went back to shareholders in a year without profit.

Total assetsUSD 2.6B

EquityUSD 1.0B

CashUSD 214.0M

Gross debtUSD 590.9M

Net debtUSD 376.9M

Current ratio2.80×

Net debt stands at 37% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	2.1	2.1	1.9	2.2	2.3	1.8	1.9	1.8	1.9	1.5	1.5	1.9	1.9	2.1	2.0	1.5	1.3
Operating income $B	0.1	0.2	0.0	0.2	0.3	0.2	0.2	0.4	0.4	0.1	0.0	0.2	−0.1	0.3	0.5	0.2	·
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·	0.4	0.6	0.2	·
Income tax $B	0.0	0.1	−0.0	0.0	0.1	0.0	0.0	−0.0	−0.1	0.0	0.1	0.0	−0.1	0.1	0.2	0.0	−0.1
Net income $B	−0.1	0.1	−0.0	0.1	0.1	0.1	0.0	0.3	0.2	−0.0	−0.1	0.1	−0.1	0.2	0.2	0.1	−0.0
Free cash flow $B	−0.1	0.0	−0.0	−0.0	0.4	0.1	0.1	0.1	0.2	0.0	−0.0	−0.0	0.0	−0.0	0.1	0.1	0.0
EPS, diluted $	−2.02	3.79	−0.35	3.06	4.46	1.94	1.73	9.20	0.61	−0.05	−0.39	0.16	−0.29	0.47	0.64	0.14	−0.30
Dividend / sh $	0.32	0.32	0.32	0.32	0.32	0.48	0.96	0.96	0.08	0.08	0.08	0.11	0.20	0.19	0.16	0.13	0.40
Payout %	−16	8	−92	10	7	25	55	10	13	−170	−20	69	−69	41	25	90	−133
ROE %	−5.6	10.9	−1.0	9.8	16.8	8.3	7.7	49.5	66.4	−6.8	−35.8	10.0	−14.7	23.0	36.3	9.3	·
Shares out B	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.36	0.36	0.36	0.36	0.36	0.36	0.34	0.34	0.34	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 14 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityIndustrial Inorganic Chemicals

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009