Filing Flows › Valhi (VHI) › Q2 2025
Valhi (VHI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Valhi (VHI) reported revenue of $540M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +0.3% from the quarter before. Operating margin was 6.6%, net earnings $900K (0.2% of revenue).
Valhi, Q2 2025: revenue $540M (-3% year over year), operating margin 6.6%, net earnings $900K, operating cash flow $21.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $540M | +0.3% | -3% |
| Gross profit | $78.1M | -36% | -36% |
| Operating profit | $35.5M | -29% | -35% |
| Net earnings | $900K | -95% | -95% |
| Operating cash flow | $21.7M | — | -35% |
| Free cash flow | $9.1M | — | -69% |
What changed
Revenue was $540.4M in Q2 2025, down 3% year over year and roughly flat from the previous quarter. Chemicals was the largest line at 91% of revenue. Real estate management and development lost $17.6M year over year (down 76%), 91% of the total change.
Gross margin was 14.5%, down 7.2 points from a year earlier. Operating profit was $35.5M, a 6.6% margin (down 3.2 points year over year). Operating expenses fell 36% while revenue fell 3%. Net earnings were $900K, down 95% year over year. The effective tax rate was 51.6%.
Operating cash flow was $21.7M (down 35% year over year), 289% of net income including minority interests. Non-cash charges added back $16.5M of depreciation and amortization. Working capital and other items used $2.3M. Capital expenditures of $12.6M left free cash flow of $9.1M.
Questions
What was Valhi's revenue in the second quarter 2025?
Valhi (VHI) reported revenue of $540M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +0.3% from the quarter before.
Was Valhi profitable in the second quarter 2025?
Operating profit was $35.5M (6.6% of revenue) and net earnings $900K.
Source: Valhi 10-Q on SEC EDGAR.