Valhi Inc income statement
In fiscal 2025, Valhi Inc reported revenue of $2.08bn, down 1.3% on the year before, operating income of $63.3m (a 3.0% margin) and net income of −$57.6m, or −$2.02 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,272 | 1,534 | 2,025 | 2,087 | 1,864 | 1,863 | 1,488 | 1,519 | 1,879 | 1,820 | 1,898 | 1,850 | 2,296 | 2,223 | 1,922 | 2,105 | 2,077 | 2,164 |
| Cost of revenue | — | — | — | — | — | — | — | 1,212 | 1,267 | 1,211 | 1,463 | 1,438 | 1,716 | 1,732 | 1,677 | 1,680 | 1,782 | 1,846 |
| Gross profit | — | 349 | 747 | 575 | 134 | 403 | 228 | 308 | 613 | 609 | 435 | 412 | 580 | 490 | 245 | 425 | 295 | 318 |
| Research and development | — | 13 | 20 | 19 | 18 | 19 | 16 | 13 | 19 | 16 | 17 | 16 | 17 | 16 | 18 | 14 | 17 | — |
| Selling, general and administrative | 228 | 227 | 269 | 273 | 375 | 276 | 249 | 233 | 263 | 310 | 294 | 284 | 312 | 304 | 277 | 256 | 312 | 311 |
| Operating income | — | 158 | 521 | 345 | −139 | 170 | 21 | 119 | 380 | 371 | 193 | 186 | 319 | 239 | 34 | 211 | 63 | 78 |
| Interest expense | 67 | 68 | 62 | 56 | 56 | 57 | 54 | 58 | 59 | 56 | 41 | 36 | 33 | 28 | 28 | 50 | 57 | 60 |
| Income before tax | −89 | 79 | 461 | 301 | −218 | 112 | −42 | 40 | 292 | 236 | 105 | 101 | 258 | 170 | −20 | 244 | −43 | −28 |
| Income tax | −51 | 15 | 170 | 105 | −91 | 33 | 108 | 19 | −120 | −31 | 27 | 16 | 60 | 37 | −25 | 83 | 12 | 14 |
| Net income | −34 | 50 | 218 | 160 | −98 | 54 | −134 | −16 | 208 | 262 | 49 | 55 | 127 | 87 | −10 | 108 | −58 | −51 |
| Diluted EPS | −$0.30 | $0.14 | $7.68 | $5.64 | −$3.48 | $1.92 | −$4.68 | −$0.60 | $7.32 | $9.20 | $1.73 | $1.94 | $4.46 | $3.06 | −$0.35 | $3.79 | −$2.02 | — |
| Diluted shares (average) | — | — | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | 29m | — |
| EBITDA | — | 220 | 585 | 415 | −64 | 249 | 91 | 187 | 439 | 429 | 250 | 255 | 378 | 298 | 88 | 277 | 130 | 147 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 534 | 481 | 539 | 540 | 504 | 495 | 560 | 606 |
| Cost of revenue | 417 | 380 | 416 | 462 | 443 | 460 | 457 | 486 |
| Gross profit | 116 | 101 | 123 | 78 | 61 | 34 | 103 | 120 |
| Selling, general and administrative | 74 | 39 | 79 | 79 | 78 | 77 | 78 | 79 |
| Operating income | 68 | 57 | 50 | 36 | 9 | −31 | 33 | 68 |
| Interest expense | 13 | 13 | 13 | 14 | 15 | 15 | 15 | 15 |
| Income before tax | 120 | 69 | 31 | 16 | −8 | −82 | 14 | 47 |
| Income tax | 34 | 36 | 8 | 8 | 14 | −18 | 6 | 12 |
| Net income | 58 | 23 | 17 | 1 | −22 | −53 | 2 | 22 |
| Diluted EPS | $2.01 | $0.80 | $0.59 | $0.03 | −$0.78 | −$1.87 | $0.07 | $0.78 |
| EBITDA | 87 | 72 | 66 | 52 | 26 | −14 | 50 | 85 |
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