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VHI

Valhi, Inc.

VHI

Valhi, Inc. • NYSE
$12.68 ▲ 0.16% (+0.02)
Market Cap $358.87 M
52w High $27.20
52w Low $11.94
Dividend Yield 0.32%
P/E 19.51
Volume 8.59K
Outstanding Shares 28.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $503.5M ▼ $77.6M ▼ $-22.2M ▼ -4.409% ▼ $-0.78 ▼ $24.4M ▼
Q2-2025 $540.4M ▲ $79.9M ▲ $900K ▼ 0.167% ▼ $0.032 ▼ $45.8M ▼
Q1-2025 $538.6M ▲ $79.3M ▲ $16.9M ▼ 3.138% ▼ $0.59 ▼ $59.4M ▼
Q4-2024 $480.9M ▼ $39.3M ▼ $22.8M ▼ 4.741% ▼ $0.8 ▼ $97.5M ▼
Q3-2024 $533.6M $74.8M $57.5M 10.776% $2.02 $152.1M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $186.6M ▼ $2.716B ▼ $1.315B ▼ $1.048B ▼
Q2-2025 $190.9M ▼ $2.763B ▲ $1.333B ▼ $1.071B ▲
Q1-2025 $196.4M ▼ $2.757B ▼ $1.344B ▼ $1.063B ▲
Q4-2024 $350.2M ▲ $2.8B ▲ $1.421B ▲ $1.036B ▲
Q3-2024 $316.7M $2.787B $1.421B $1.022B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-21.9M ▼ $-1.9M ▼ $-12.1M ▲ $14.8M ▲ $900K ▲ $-12.3M ▼
Q2-2025 $7.5M ▼ $21.7M ▲ $-12.4M ▼ $-20.6M ▼ $-8.8M ▲ $9.1M ▲
Q1-2025 $16.9M ▼ $-155.9M ▼ $-12.3M ▼ $19.9M ▲ $-147.1M ▼ $-168.7M ▼
Q4-2024 $32.4M ▼ $45.8M ▲ $-7.4M ▲ $-20.4M ▼ $13.5M ▲ $33.3M ▲
Q3-2024 $101.2M $13.5M $-151.6M $71.3M $-62.2M $3.9M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Chemicals
Chemicals
 $920.00M ▲$490.00M ▼$490.00M ▲$460.00M ▼
Component Products
Component Products
 $70.00M ▲$40.00M ▼$40.00M ▲$40.00M ▲
Real Estate Management And Development
Real Estate Management And Development
 $40.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Valhi’s revenues have been fairly steady over the past several years, with some ups and downs that reflect the cyclical nature of chemicals and real estate. Profitability has been positive most years, but margins are relatively thin and swung into a small loss at one point before recovering more recently. The latest period shows better operating and net income than the prior year, suggesting some recovery in pricing or costs, but earnings are still quite sensitive to market conditions. Overall, this is a business that can be profitable, but results are volatile and closely tied to the economic cycle, especially in pigments and housing-related activity.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid and gradually improving. Total assets have stayed fairly stable, while shareholder equity has built up over time, pointing to retained value creation despite a bumpy income pattern. Debt has been edging down from earlier levels, which reduces financial risk, and cash levels, while lower than their prior peak, still offer some cushion. In simple terms, leverage appears manageable and the company seems to have a sturdier financial foundation today than a few years ago.

Cash Flow

Cash Flow Cash flow has been inconsistent, with one standout year of strong cash generation and several years where operating cash flow was just around break‑even. Free cash flow has generally hovered around slightly positive, helped by disciplined but modest capital spending. This pattern suggests the company can fund its investment needs from internal cash in normal conditions, but has less room for error in weaker years. The key watchpoint is whether recent improvements in earnings translate into more stable, recurring cash flow rather than one‑off spikes.

Competitive Edge

Competitive Edge Valhi’s strength comes from its mix of niche, specialized businesses rather than from a single dominant franchise. Kronos is a meaningful global player in titanium dioxide, benefiting from proprietary production technology, a wide product range, and a broad geographic footprint—though it still faces the inherent cyclicality and commodity‑like pricing of TiO2. CompX occupies defensible niches in high‑quality locks and marine components, where customization, reliability, and brand reputation matter more than pure price. The real estate arm adds another leg to the stool, with valuable land in a proven growth corridor and deep expertise in complex land remediation and master‑planned development, which is not easily replicated but is project‑driven and lumpy.

Innovation and R&D

Innovation and R&D Innovation at Valhi is very focused within its subsidiaries. Kronos invests in process technology and specialized titanium dioxide grades, especially those that meet stricter environmental and regulatory standards and serve newer applications like digital printing—this helps differentiate it from more basic pigment producers. CompX continues to move up the value chain from mechanical locks into electronic and keyless security solutions, which aligns with long‑term trends toward smarter access control. In real estate, innovation is more about execution capabilities: turning previously contaminated industrial land into fully entitled, infrastructure‑ready communities is a complex skill set that gives the company a distinctive edge in its chosen markets.

Summary

Overall, Valhi combines cyclical chemicals, niche industrial components, and project‑based real estate into a diversified but somewhat complex story. Financially, it has shown an ability to remain generally profitable over time, with a healthier balance sheet and modest but positive free cash flow, offset by earnings and cash volatility. Competitively, its advantages are based on proprietary process know‑how, specialized products, and long experience in difficult land development rather than on sheer scale. Key uncertainties center on chemical cycle swings, housing and commercial real estate conditions, regulatory and environmental pressures, and the execution of large projects like the Cadence community. The company appears to offer a mix of steady niche businesses and more cyclical, higher‑risk segments, which can be a strength or a source of volatility depending on the broader economic environment.

NEWS

November 6, 2025 · 4:25 PM UTC

VALHI REPORTS THIRD QUARTER 2025 RESULTS

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October 14, 2025 · 4:15 PM UTC

VALHI ANNOUNCES EXPECTED THIRD QUARTER 2025 EARNINGS RELEASE DATE

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