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MARKETS / NYSE / Materials / Chemicals / VHI
NYSE · INDUSTRIAL INORGANIC CHEMICALS · SMALL CAP

Valhi Inc. VHI

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.1B
▼ 1.3% YoY
$-57.6M
▼ 153.3% YoY
$-82.1M
▼ 726.7% YoY

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

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
1B2B
2009201220152018202120242025
Compound annual growth
−2.2%
+2.3%
+3.4%
+2.0%
+0.0%
−11.2%
−9.0%
−10.3%
−10.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.3% a year over the five years to FY2025.

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%
10%20%-5%-10%
200920172025
ROE
FY2025 · ROE -5.6%
20%40%60%-10%-20%-30%
200920172025
Three returns, three denominators.
Gross margin14.2%
Operating margin3.0%
Net margin-2.6%
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
150M300M-30M-60M
200920172025
Net buybacks $M Dividends $M
FY2025 · Dividends 9.1 · Net buybacks ·
25.0M50.0MDividendsNet buybacks
200920112013201520172019202120232025
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—not applicable◌not available in our data
VHI, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B2.12.11.92.22.31.81.91.81.91.51.51.91.92.12.01.51.3
Operating income $B0.10.20.00.20.30.20.20.40.40.10.00.2−0.10.30.50.2◌
EBITDA $B◌◌◌◌◌◌◌◌◌◌◌◌◌0.40.60.2◌
Income tax $B0.00.1−0.00.00.10.00.0−0.0−0.10.00.10.0−0.10.10.20.0−0.1
Net income $B−0.10.1−0.00.10.10.10.00.30.2−0.0−0.10.1−0.10.20.20.1−0.0
Free cash flow $B−0.10.0−0.0−0.00.40.10.10.10.20.0−0.0−0.00.0−0.00.10.10.0
EPS, diluted $−2.023.79−0.353.064.461.941.739.200.61−0.05−0.390.16−0.290.470.640.14−0.30
Dividend / sh $0.320.320.320.320.320.480.960.960.080.080.080.110.200.190.160.130.40
Payout %−168−9210725551013−170−2069−69412590−133
ROE %−5.610.9−1.09.816.88.37.749.566.4−6.8−35.810.0−14.723.036.39.3◌
Shares out B0.030.030.030.030.030.030.360.360.360.360.360.360.360.340.340.34◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2010. Four checks were skipped: the share count is not tagged before 2011. Two checks were skipped: revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityIndustrial Inorganic Chemicals
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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