Filing Flows › Valhi (VHI) › Q4 2025
Valhi (VHI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 10, 2026
Valhi (VHI) reported revenue of $494M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -2% from the quarter before. Operating margin was -6.2%, net loss $63.3M (12.8% of revenue).
Valhi, Q4 2025: revenue $494M (+3% year over year), operating margin -6.2%, net loss $63.3M, operating cash flow $101M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $494M | -2% | +3% |
| Operating profit | −$30.9M | -459% | — |
| Net earnings | −$63.3M | — | — |
| Operating cash flow | $101M | — | +120% |
| Free cash flow | $89.8M | — | +170% |
What changed
Revenue was $494.5M in Q4 2025, up 3% year over year and down 2% from the previous quarter. Chemicals was the largest line at 85% of revenue.
Gross margin was 6.9%, down 14.0 points from a year earlier. Operating costs exceeded revenue by $30.9M, an operating margin of -6.2%. Operating expenses grew 48% against revenue growth of 3%. The quarter ended with a net loss of $63.3M, wider than the previous quarter's $21.9M loss. Minority interests bore $10.1M of it: to shareholders the quarter was a loss of $53.2M. Net interest and other expense of $50.8M was the main reason.
Operating cash flow was $100.6M (up 120% year over year). Non-cash charges added back $17.4M of depreciation and amortization. Working capital and other items added $146.5M. Capital expenditures of $10.8M left free cash flow of $89.8M.
Questions
What was Valhi's revenue in the fourth quarter 2025?
Valhi (VHI) reported revenue of $494M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -2% from the quarter before.
Was Valhi profitable in the fourth quarter 2025?
Operating loss was $30.9M (-6.2% of revenue) and net loss $63.3M.
Source: Valhi 10-K on SEC EDGAR.