Valvoline Inc income statement
In fiscal 2025, Valvoline Inc reported revenue of $1.71bn, up 5.6% on the year before, operating income of $390m (a 22.8% margin) and net income of $211m, or $1.64 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 | 2015Sept 2015 | 2016Sept 2016 | 2017Sept 2017 | 2018Sept 2018 | 2019Sept 2019 | 2020Sept 2020 | 2021Sept 2021 | 2022Sept 2022 | 2023Sept 2023 | 2024Sept 2024 | 2025Sept 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,967 | 1,929 | 2,084 | 2,285 | 2,390 | 727 | 1,037 | 1,236 | 1,444 | 1,619 | 1,710 | 1,964 |
| Cost of revenue | 1,282 | 1,181 | 1,308 | 1,479 | 1,580 | 426 | 605 | 760 | 899 | 1,000 | 1,052 | 1,212 |
| Gross profit | 685 | 748 | 776 | 806 | 810 | 301 | 432 | 476 | 545 | 619 | 659 | 752 |
| Research and development | 11 | 13 | 13 | 14 | 13 | 13 | 15 | — | — | — | — | — |
| Selling, general and administrative | 348 | 365 | 396 | 430 | 449 | 177 | 224 | 245 | 265 | 305 | 350 | 412 |
| Operating income | 323 | 396 | 394 | 395 | 398 | 160 | 240 | 220 | 247 | 367 | 390 | 301 |
| Income before tax | 297 | 421 | 490 | 332 | 265 | 123 | 260 | 144 | 237 | 284 | 292 | 176 |
| Income tax | 101 | 148 | 186 | 166 | 57 | 53 | 60 | 35 | 37 | 69 | 78 | 73 |
| Net income | 196 | 273 | 304 | 166 | 208 | 317 | 420 | 424 | 1,420 | 212 | 211 | 102 |
| Diluted EPS | $1.15 | $1.60 | $1.49 | $0.84 | $1.10 | $1.69 | $2.29 | $2.35 | $8.73 | $1.61 | $1.64 | $0.79 |
| Diluted shares (average) | 170m | 170m | 204m | 197m | 189m | 188m | 184m | 180m | 163m | 131m | 129m | 128m |
| EBITDA | 361 | 434 | 436 | 444 | 450 | 191 | 287 | 275 | 319 | 456 | 495 | — |
| Quarter | 2024 Q4Sept 2024 | 2025 Q1Dec 2024 | 2025 Q2Mar 2025 | 2025 Q3Jun 2025 | 2025 Q4Sept 2025 | 2026 Q1Dec 2025 | 2026 Q2Mar 2026 | 2026 Q3Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 436 | 414 | 403 | 439 | 454 | 462 | 504 | 545 |
| Cost of revenue | 265 | 261 | 253 | 261 | 276 | 289 | 317 | 330 |
| Gross profit | 170 | 153 | 151 | 178 | 178 | 173 | 187 | 215 |
| Selling, general and administrative | 81 | 80 | 84 | 83 | 103 | 107 | 99 | 103 |
| Operating income | 135 | 144 | 67 | 95 | 85 | 18 | 86 | 112 |
| Income before tax | 115 | 127 | 51 | 77 | 37 | −6 | 60 | 86 |
| Income tax | 26 | 33 | 13 | 20 | 12 | 26 | 14 | 21 |
| Net income | 92 | 92 | 38 | 57 | 25 | −33 | 45 | 65 |
| Diluted EPS | $0.70 | $0.71 | $0.29 | $0.44 | $0.20 | −$0.26 | $0.35 | $0.51 |
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