$14.31

+0.24 (+1.71%)

Weekly Expected Move ±5.0%

$13 $14 $14 $15 $16

NYSE · Basic Materials · Chemicals · Tech Score Strong Sell · Power 24 · $405.3M mcap · 2M float · 0.568% daily turnover · Short 43% of daily vol

Credit Risk of going bust: higher than 76% of companies Debt: 59.8% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the third-riskiest tenth, about 1 in 140 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.39 (down 90%), Valhi, Inc. would be worth roughly what it owes.
Total debt $603.5M against a stock market value of $405.3M.
Distance to default 2.93 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $294.1M (short-term plus half of long-term), stock volatility 49.1%; Altman Z 1.77. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

43.3 / 100

NoneWeakNarrowWide

Primary source: Switching Costs · ROIC: -0.4% · 5Y Avg: 4.0%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. VHI shows a Weak competitive edge (43.3/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Switching Costs. Negative ROIC of -0.4% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Analyst Recommendations

Strong Buy: 0Buy: 0Hold: 0Sell: 1Strong Sell: 0

Rating Summary

ConsensusSell

Avg Target$—

Analysts0

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. VHI receives an overall rating of C+. Strongest factors: DCF (4/5), P/B (5/5). Areas of concern: ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-10-01	B-	C+
2026-08-17	C+	B-
2026-08-11	B	C+
2026-08-07	C+	B
2026-04-01	B-	C+
2026-03-24	C+	B-
2026-03-11	C-	C+
2026-03-11	C	C-
2026-03-10	B	C
2026-02-20	B+	B

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 23 Grade C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. VHI scores highest in Balance Sheet (54/100) and lowest in Profitability (13/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

1.78

Distress Zone

Piotroski F-Score

7/9

✗ ✓ ✗ ✓ ✓ ✓ ✓ ✓ ✓

Beneish M-Score

-2.73

Unlikely Manipulator

Ohlson O-Score

-7.46

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BB-

Score: 36.8/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -2.95x

Accruals: -5.6%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. VHI scores 1.78, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. VHI scores 7/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. VHI's score of -2.73 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. VHI's implied 0.1% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. VHI receives an estimated rating of BB- (score: 36.8/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-7.95x

PEG

0.05x

P/S

0.19x

P/B

0.39x

P/FCF

6.67x

P/OCF

3.74x

EV/EBITDA

7.89x

EV/Revenue

0.37x

EV/EBIT

25.61x

EV/FCF

12.91x

Earnings Yield

-9.06%

FCF Yield

15.00%

Shareholder Yield

2.18%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. VHI currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.358

NI / EBT

Interest Burden

-0.883

EBT / EBIT

EBIT Margin

0.015

EBIT / Rev

Asset Turnover

0.811

Rev / Assets

Equity Multiplier

2.523

Assets / Equity

ROE

-3.6%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. VHI's ROE of -3.6% is driven by Asset Turnover (0.811), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.36 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$14.19

Median 1Y

$11.23

5th Pctile

$4.00

95th Pctile

$32.14

Ann. Volatility

59.8%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Michael S. Simmons Vice Chairman of the Board, President and Chief Executive Officer	$3,718,000	$—	$3,718,000
Amy A. Samford Executive Vice President and Chief Financial Officer	$1,993,000	$—	$1,993,000
Courtney J. Riley Former Executive Vice President	$1,663,000	$—	$1,663,000
John A. Sunny Executive Vice President and Chief Information Officer	$1,210,000	$—	$1,210,000
Andrew B. Nace Executive Vice President and General Counsel	$1,197,000	$—	$1,197,000

CEO Pay Ratio

27:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $3,718,000

Avg Employee Cost (SGA/emp): $138,003

Employees: 2,263

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

2,263

-10.3% YoY

Revenue / Employee

$917,808

Rev: $2,077,000,000

Profit / Employee

$-25,453

NI: $-57,600,000

SGA / Employee

$138,003

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	14.1%	16.8%	20.0%	20.5%	18.4%	10.1%	4.4%	1.0%	-2.6%	-1.1%	0.3%	2.7%	9.1%	11.0%	11.8%	9.6%	1.8%	-5.6%	-6.9%	-3.6%	-3.58%
ROA	3.5%	4.3%	5.4%	5.7%	5.3%	3.1%	1.4%	0.3%	-0.9%	-0.4%	0.1%	1.0%	3.3%	3.9%	4.4%	3.7%	0.7%	-2.1%	-2.7%	-1.4%	-1.42%
ROIC	16.4%	22.4%	24.7%	28.2%	25.3%	11.7%	3.4%	-1.7%	-4.3%	-2.5%	-0.3%	5.0%	5.5%	8.6%	8.5%	5.9%	2.1%	-1.0%	-1.9%	-0.4%	-0.40%
ROCE	7.5%	10.8%	12.6%	13.8%	13.1%	7.6%	3.6%	0.4%	-1.3%	-0.1%	1.4%	4.2%	9.9%	13.6%	13.9%	12.7%	6.9%	0.6%	-0.0%	1.4%	1.43%
Gross Margin	26.4%	28.3%	27.1%	23.1%	21.6%	13.1%	11.0%	12.9%	12.9%	14.3%	16.3%	21.7%	21.8%	20.9%	22.7%	14.5%	12.0%	6.9%	18.4%	19.8%	19.82%
Operating Margin	11.4%	13.5%	14.3%	10.1%	6.3%	-8.0%	-3.0%	-2.1%	0.0%	-1.7%	3.2%	8.2%	7.8%	12.7%	8.0%	-0.3%	-3.4%	-8.7%	4.8%	4.3%	4.26%
Net Margin	6.7%	7.6%	7.2%	4.4%	4.7%	-2.3%	-1.0%	-0.6%	-1.2%	0.9%	1.5%	3.6%	10.8%	4.7%	3.1%	0.2%	-4.4%	-10.8%	0.4%	5.9%	5.86%
EBITDA Margin	14.0%	19.5%	16.6%	12.5%	8.9%	0.4%	2.3%	0.4%	2.4%	6.0%	7.9%	12.4%	28.5%	20.3%	11.0%	8.5%	4.8%	-9.9%	8.2%	13.4%	13.45%
FCF Margin	10.9%	17.2%	12.9%	13.3%	9.0%	-1.5%	-6.6%	-8.0%	-6.2%	-2.3%	2.3%	3.0%	1.9%	0.6%	-4.8%	-5.8%	-6.7%	-4.0%	1.4%	2.9%	2.90%
OCF Margin	13.9%	20.0%	15.7%	16.3%	11.9%	1.6%	-3.3%	-4.5%	-2.9%	0.2%	4.2%	4.2%	3.0%	2.1%	-3.0%	-3.6%	-4.4%	-1.7%	3.5%	5.2%	5.16%
ROE 3Y Avg	snapshot only																				2.74%
ROE 5Y Avg	snapshot only																				5.55%
ROA 3Y Avg	snapshot only																				1.03%
ROIC 3Y Avg	snapshot only																				2.02%
ROIC Economic	snapshot only																				-0.35%
Cash ROA	snapshot only																				4.34%
Cash ROIC	snapshot only																				7.78%
CROIC	snapshot only																				4.37%
NOPAT Margin	snapshot only																				-0.26%
Pretax Margin	snapshot only																				-1.29%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				14.27%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	6.19	6.00	4.95	7.36	4.44	6.55	11.75	40.06	-15.52	-41.70	175.75	19.17	10.41	6.04	3.89	4.64	24.29	-5.96	-5.62	-11.03	-7.950
P/S Ratio	0.29	0.33	0.32	0.48	0.27	0.27	0.22	0.18	0.19	0.22	0.24	0.25	0.45	0.31	0.22	0.22	0.22	0.17	0.19	0.19	0.187
P/B Ratio	0.82	0.92	0.89	1.37	0.76	0.62	0.50	0.37	0.39	0.45	0.51	0.51	0.91	0.63	0.43	0.42	0.43	0.34	0.40	0.40	0.391
P/FCF	2.66	1.93	2.51	3.59	2.98	-18.06	-3.42	-2.22	-3.10	-9.35	10.52	8.13	23.73	49.80	-4.47	-3.72	-3.22	-4.18	13.63	6.67	6.668
P/OCF	2.09	1.66	2.05	2.94	2.25	16.92	—	—	—	106.91	5.79	5.91	14.66	14.83	—	—	—	—	5.49	3.74	3.743
EV/EBITDA	3.07	2.20	2.09	2.96	1.78	2.63	4.60	8.09	18.50	10.05	7.72	4.20	4.28	2.46	2.34	2.59	4.15	9.06	12.60	7.89	7.895
EV/Revenue	0.36	0.32	0.33	0.47	0.26	0.28	0.31	0.27	0.26	0.27	0.32	0.31	0.60	0.42	0.42	0.44	0.46	0.35	0.40	0.37	0.374
EV/EBIT	4.05	2.67	2.47	3.48	2.11	3.48	7.69	52.98	-17.70	-307.56	20.90	6.95	5.51	3.01	2.87	3.18	5.80	51.74	-764.86	25.61	25.607
EV/FCF	3.35	1.86	2.57	3.50	2.89	-18.89	-4.75	-3.34	-4.21	-11.72	14.08	10.32	31.82	67.65	-8.72	-7.51	-6.81	-8.89	28.14	12.91	12.906
Earnings Yield	16.1%	16.7%	20.2%	13.6%	22.5%	15.3%	8.5%	2.5%	-6.4%	-2.4%	0.6%	5.2%	9.6%	16.6%	25.7%	21.6%	4.1%	-16.8%	-17.8%	-9.1%	-9.06%
FCF Yield	37.5%	51.8%	39.9%	27.9%	33.5%	-5.5%	-29.3%	-45.0%	-32.2%	-10.7%	9.5%	12.3%	4.2%	2.0%	-22.4%	-26.9%	-31.0%	-23.9%	7.3%	15.0%	15.00%
PEG Ratio	snapshot only																				0.051
Price/Tangible Book	snapshot only																				0.632
EV/OCF	snapshot only																				7.244
EV/Gross Profit	snapshot only																				2.545
Shareholder Yield	snapshot only																				2.18%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	4.51	3.61	3.78	3.63	3.34	3.23	3.71	3.56	3.40	2.91	3.45	3.49	2.79	2.26	2.67	2.83	3.64	2.80	3.25	3.37	3.369
Quick Ratio	3.17	2.62	2.69	2.60	2.22	1.93	2.09	2.10	2.08	1.73	2.14	2.24	1.65	1.19	1.29	1.35	1.76	2.80	1.74	1.90	1.900
Debt/Equity	0.95	0.81	0.75	0.70	0.63	0.61	0.61	0.61	0.59	0.61	0.57	0.54	0.62	0.56	0.59	0.61	0.65	0.60	0.63	0.58	0.578
Net Debt/Equity	0.21	-0.03	0.02	-0.03	-0.02	0.03	0.19	0.19	0.14	0.11	0.17	0.14	0.31	0.23	0.41	0.43	0.47	0.38	0.42	0.37	0.375
Debt/Assets	0.25	0.22	0.22	0.21	0.20	0.20	0.21	0.22	0.21	0.21	0.21	0.21	0.23	0.21	0.23	0.24	0.25	0.23	0.25	0.23	0.234
Debt/EBITDA	2.83	2.01	1.73	1.55	1.53	2.47	4.10	8.83	20.91	10.94	6.48	3.48	2.18	1.62	1.66	1.85	3.01	7.60	9.66	5.89	5.888
Net Debt/EBITDA	0.63	-0.09	0.05	-0.07	-0.06	0.12	1.29	2.71	4.85	2.04	1.95	0.89	1.09	0.65	1.14	1.31	2.19	4.80	6.49	3.82	3.816
Interest Coverage	5.64	8.47	10.53	11.66	10.94	6.37	3.02	0.35	-0.98	-0.06	0.93	2.42	5.19	5.89	5.96	5.37	2.95	0.25	-0.02	0.53	0.531
Equity Multiplier	3.80	3.62	3.44	3.30	3.19	2.96	2.87	2.82	2.80	2.92	2.76	2.63	2.73	2.70	2.60	2.58	2.59	2.57	2.54	2.47	2.466
Cash Ratio	snapshot only																				0.588
Debt Service Coverage	snapshot only																				1.723
Cash to Debt	snapshot only																				0.352
FCF to Debt	snapshot only																				0.104
Defensive Interval	snapshot only																				726.0 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.75	0.78	0.82	0.88	0.87	0.76	0.73	0.70	0.69	0.69	0.74	0.78	0.77	0.76	0.79	0.79	0.75	0.76	0.78	0.81	0.811
Inventory Turnover	3.34	3.44	3.60	4.05	3.77	3.15	3.01	3.19	3.04	2.71	2.93	3.20	3.04	2.62	2.68	2.81	2.68	5.20	2.78	2.96	2.959
Receivables Turnover	6.18	6.85	6.50	6.82	6.97	7.41	5.98	5.62	5.85	7.07	6.18	6.03	6.29	7.20	6.05	5.95	5.94	7.36	5.76	5.97	5.967
Payables Turnover	12.88	12.70	12.27	14.69	11.61	9.84	11.23	11.16	10.32	7.32	10.92	11.79	11.54	6.61	8.93	10.02	10.30	7.38	8.49	6.70	6.703
DSO	59	53	56	53	52	49	61	65	62	52	59	61	58	51	60	61	61	50	63	61	61.2 days
DIO	109	106	101	90	97	116	121	114	120	135	125	114	120	139	136	130	136	70	131	123	123.4 days
DPO	28	29	30	25	31	37	32	33	35	50	33	31	32	55	41	36	35	49	43	54	54.5 days
Cash Conversion Cycle	140	131	128	119	118	128	150	147	147	136	150	144	146	135	156	155	162	70	151	130	130.1 days
Fixed Asset Turnover	snapshot only																				2.955
Operating Cycle	snapshot only																				184.5 days
Cash Velocity	snapshot only																				10.189
Capital Intensity	snapshot only																				1.190

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	21.9%	24.1%	27.2%	25.7%	17.5%	-3.2%	-13.7%	-22.4%	-25.2%	-13.5%	-6.1%	2.7%	11.0%	9.5%	7.8%	4.0%	-0.7%	-1.3%	-0.7%	3.4%	3.38%
Net Income	1.4%	1.3%	2.5%	1.2%	52.1%	-29.1%	-74.7%	-94.7%	-1.2%	-1.1%	-93.2%	2.0%	4.8%	11.8%	42.4%	2.8%	-79.3%	-1.5%	-1.6%	-1.4%	-1.39%
EPS	1.4%	1.3%	2.5%	1.2%	52.1%	-29.1%	-74.7%	-94.7%	-1.2%	-1.1%	-93.2%	2.0%	4.8%	11.8%	42.4%	2.8%	-79.3%	-1.5%	-1.6%	-1.4%	-1.39%
FCF	3.9%	3.6%	87.7%	1.1%	-2.7%	-1.1%	-1.4%	-1.5%	-1.5%	-36.4%	1.3%	1.4%	1.3%	1.3%	-3.3%	-3.0%	-4.5%	-7.3%	1.3%	1.5%	1.51%
EBITDA	36.9%	64.8%	1.1%	95.6%	44.6%	-29.7%	-63.0%	-83.7%	-92.8%	-77.9%	-41.9%	1.3%	10.0%	5.9%	3.6%	1.4%	-21.8%	-77.7%	-82.3%	-71.1%	-71.11%
Op. Income	1.2%	1.2%	1.5%	1.4%	54.8%	-32.8%	-81.9%	-1.1%	-1.2%	-1.2%	-1.0%	3.5%	2.7%	6.0%	160.8%	1.6%	-11.2%	-1.1%	-1.2%	-1.0%	-1.05%
OCF Growth	snapshot only																				2.49%
Asset Growth	snapshot only																				-6.81%
Equity Growth	snapshot only																				-2.55%
Debt Growth	snapshot only																				-7.83%
Shares Change	snapshot only																				0.00%
Dividend Growth	snapshot only																				0.00%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	3.4%	8.1%	9.6%	10.9%	10.2%	5.4%	3.6%	3.6%	2.3%	1.3%	1.0%	0.0%	-0.8%	-2.9%	-4.4%	-6.1%	-6.2%	-2.2%	0.2%	3.4%	3.38%
Revenue 5Y	7.5%	7.9%	8.1%	7.7%	6.2%	2.8%	1.1%	-0.3%	-0.6%	1.1%	1.3%	1.7%	2.1%	2.1%	2.4%	3.5%	3.4%	2.3%	2.0%	1.5%	1.49%
EPS 3Y	-36.2%	-21.3%	-6.1%	-4.0%	39.3%	22.5%	-10.3%	-39.4%	—	—	-61.0%	-30.3%	-3.7%	-5.3%	-9.5%	-15.8%	-50.5%	—	—	—	—
EPS 5Y	—	—	57.5%	37.4%	14.7%	-15.3%	-32.5%	-50.3%	—	—	-57.3%	-32.6%	9.7%	17.1%	16.2%	20.2%	-15.0%	—	—	—	—
Net Income 3Y	-36.2%	-21.4%	-6.1%	-4.0%	39.3%	22.5%	-10.3%	-39.4%	—	—	-61.0%	-30.3%	-3.7%	-5.3%	-9.5%	-15.8%	-50.5%	—	—	—	—
Net Income 5Y	—	—	57.5%	37.4%	14.7%	-15.3%	-32.5%	-50.3%	—	—	-57.3%	-32.6%	9.7%	17.1%	16.2%	20.2%	-15.0%	—	—	—	—
EBITDA 3Y	-16.5%	-1.6%	11.0%	14.9%	18.0%	5.1%	-12.6%	-31.4%	-47.7%	-36.5%	-23.3%	-9.8%	4.6%	2.6%	-0.4%	-3.8%	-14.7%	-30.0%	-22.2%	16.5%	16.52%
EBITDA 5Y	39.1%	21.4%	13.5%	32.5%	18.0%	-0.4%	-14.2%	-32.3%	-42.9%	-31.7%	-21.7%	-10.7%	5.4%	12.3%	12.2%	12.1%	4.2%	-16.9%	-18.2%	-12.8%	-12.82%
Gross Profit 3Y	-11.7%	-1.6%	5.5%	11.0%	11.9%	4.1%	-3.2%	-9.4%	-15.4%	-15.9%	-13.0%	-9.0%	-8.4%	-9.9%	-10.5%	-14.3%	-16.9%	-15.5%	-9.6%	2.8%	2.80%
Gross Profit 5Y	18.4%	14.7%	11.7%	8.1%	3.4%	-5.8%	-12.5%	-17.6%	-20.5%	-16.6%	-12.7%	-7.2%	-2.9%	-0.5%	2.2%	1.2%	-1.2%	-6.4%	-8.1%	-6.4%	-6.39%
Op. Income 3Y	-21.2%	-6.3%	8.1%	21.6%	25.8%	8.3%	-19.7%	—	—	—	—	-25.0%	-19.1%	-10.9%	-12.9%	-22.8%	-32.8%	—	—	—	—
Op. Income 5Y	—	49.0%	23.5%	13.0%	4.2%	-13.0%	-32.3%	—	—	—	—	-20.6%	-7.4%	6.0%	13.5%	11.0%	1.0%	—	—	—	—
FCF 3Y	8.4%	56.1%	79.0%	—	1.0%	—	—	—	—	—	-35.2%	-27.7%	-44.7%	-67.9%	—	—	—	—	—	—	—
FCF 5Y	—	82.8%	27.5%	24.7%	5.1%	—	—	—	—	—	-3.6%	—	7.8%	-35.5%	—	—	—	—	-29.0%	-17.1%	-17.15%
OCF 3Y	6.3%	40.6%	48.7%	1.2%	50.8%	-41.8%	—	—	—	-70.5%	-28.8%	-27.9%	-40.2%	-54.3%	—	—	—	—	—	—	—
OCF 5Y	59.1%	41.9%	20.5%	18.3%	4.1%	-33.0%	—	—	—	-52.7%	-6.7%	16.7%	-6.2%	-24.3%	—	—	—	—	-20.0%	-12.9%	-12.91%
Assets 3Y	1.3%	3.5%	3.5%	1.6%	2.0%	0.5%	0.1%	-1.2%	-2.4%	-1.8%	-3.7%	-3.4%	-1.1%	-2.3%	-3.0%	-1.8%	-1.5%	-2.5%	-1.3%	-1.0%	-0.96%
Assets 5Y	2.6%	4.2%	3.5%	2.5%	0.2%	-0.5%	-1.9%	-2.5%	-1.2%	0.2%	-1.2%	-1.8%	0.8%	0.0%	0.3%	0.1%	-0.7%	-1.8%	-1.9%	-1.7%	-1.73%
Equity 3Y	5.2%	9.3%	10.7%	10.6%	11.2%	14.4%	14.4%	14.0%	12.4%	11.1%	9.9%	10.0%	10.6%	7.7%	6.5%	6.7%	5.5%	2.2%	2.7%	3.5%	3.54%
Book Value 3Y	5.2%	9.3%	10.7%	10.6%	11.2%	14.4%	14.4%	14.0%	12.4%	11.1%	9.9%	10.0%	10.6%	7.7%	6.5%	6.7%	5.5%	2.2%	2.7%	3.5%	3.54%
Dividend 3Y	-20.3%	-12.8%	-0.0%	-0.4%	-0.7%	0.0%	0.4%	0.0%	0.7%	0.4%	0.0%	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.63	0.80	0.74	0.62	0.55	0.46	0.24	0.12	0.11	0.21	0.13	0.06	0.03	0.03	0.02	0.04	0.05	0.21	0.57	0.60	0.596
Earnings Stability	0.01	0.00	0.01	0.00	0.04	0.37	0.51	0.52	0.40	0.44	0.39	0.33	0.00	0.00	0.00	0.00	0.07	0.28	0.24	0.31	0.312
Margin Stability	0.65	0.77	0.86	0.91	0.90	0.80	0.71	0.65	0.62	0.68	0.71	0.75	0.74	0.77	0.77	0.77	0.75	0.75	0.77	0.82	0.817
Rev. Growth Consistency	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	0.00	0.00	0.00	1.00	1.000
Earn. Growth Consistency	0.50	1.00	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.50	0.50	0.50	0.50	0.88	0.50	0.50	0.20	0.20	0.50	0.50	0.20	0.20	0.50	0.50	0.50	0.20	0.20	0.20	0.200
Earnings Smoothness	0.17	0.21	0.00	0.27	0.59	0.66	0.00	0.00	—	—	0.00	0.01	—	—	0.00	0.00	0.00	—	—	—	—
ROE Trend	0.06	0.07	0.10	0.10	0.07	-0.02	-0.08	-0.14	-0.18	-0.13	-0.11	-0.07	0.01	0.06	0.09	0.07	-0.01	-0.10	-0.13	-0.10	-0.095
Gross Margin Trend	0.01	0.03	0.04	0.04	0.02	-0.02	-0.06	-0.09	-0.12	-0.11	-0.08	-0.04	-0.00	0.03	0.06	0.04	0.02	-0.02	-0.05	-0.04	-0.036
FCF Margin Trend	0.09	0.12	0.06	0.07	0.02	-0.12	-0.17	-0.19	-0.16	-0.10	-0.01	0.00	0.00	0.03	-0.03	-0.03	-0.05	-0.03	0.03	0.04	0.043
Sustainable Growth Rate	12.8%	15.6%	18.8%	19.4%	17.3%	9.1%	3.4%	-0.0%	—	—	-0.7%	1.8%	8.2%	10.0%	10.9%	8.8%	0.9%	—	—	—	—
Internal Growth Rate	3.3%	4.2%	5.3%	5.7%	5.2%	2.9%	1.1%	—	—	—	—	0.6%	3.1%	3.7%	4.2%	3.5%	0.3%	—	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	2.97	3.61	2.41	2.50	1.97	0.39	-1.73	-10.11	2.33	-0.39	30.33	3.24	0.71	0.41	-0.54	-0.76	-4.91	0.62	-1.02	-2.95	-2.947
FCF/OCF	0.78	0.86	0.82	0.82	0.76	-0.94	1.99	1.78	2.15	-11.44	0.55	0.73	0.62	0.30	1.61	1.63	1.53	2.31	0.40	0.56	0.561
FCF/Net Income	snapshot only																				-1.654
OCF/EBITDA	snapshot only																				1.090
CapEx/Revenue	3.0%	2.8%	2.8%	2.9%	2.9%	3.0%	3.3%	3.5%	3.3%	2.5%	1.9%	1.1%	1.2%	1.5%	1.8%	2.3%	2.3%	2.2%	2.1%	2.3%	2.26%
CapEx/Depreciation	snapshot only																				0.691
Accruals Ratio	-0.07	-0.11	-0.08	-0.09	-0.05	0.02	0.04	0.03	0.01	-0.00	-0.03	-0.02	0.01	0.02	0.07	0.07	0.04	-0.01	-0.05	-0.06	-0.056
Sloan Accruals	snapshot only																				-0.037
Cash Flow Adequacy	snapshot only																				1.923

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	1.5%	1.2%	1.2%	0.7%	1.3%	1.5%	1.9%	2.6%	2.5%	2.2%	1.9%	1.8%	1.0%	1.4%	2.0%	2.0%	2.0%	2.6%	2.2%	2.2%	2.24%
Dividend/Share	$0.32	$0.32	$0.32	$0.32	$0.31	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32
Payout Ratio	9.1%	7.1%	5.7%	5.5%	5.9%	10.0%	22.8%	1.0%	—	—	3.4%	35.3%	10.2%	8.4%	7.8%	9.3%	49.5%	—	—	—	—
FCF Payout Ratio	3.9%	2.3%	2.9%	2.7%	3.9%	—	—	—	—	—	20.2%	15.0%	23.3%	69.5%	—	—	—	—	30.4%	14.5%	14.51%
Total Payout Ratio	9.9%	8.3%	6.8%	7.6%	8.2%	14.4%	33.6%	1.5%	—	—	3.9%	35.3%	10.2%	8.4%	7.8%	9.3%	49.5%	—	—	—	—
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	-0.48	-0.33	0.01	-0.00	-0.01	0.02	0.03	0.03	0.05	0.03	0.02	0.03	0.01	0.01	0.02	0.02	0.02	0.03	0.02	0.02	0.022
Buyback Yield	0.1%	0.2%	0.2%	0.3%	0.5%	0.7%	0.9%	1.2%	1.1%	0.7%	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	0.1%	0.2%	0.2%	0.3%	0.5%	0.7%	0.9%	1.2%	1.1%	0.7%	0.3%	0.0%	-8.6%	0.0%	0.0%	0.0%	-17.9%	0.0%	0.0%	0.0%	0.00%
Total Shareholder Return	1.6%	1.4%	1.4%	1.0%	1.8%	2.2%	2.9%	3.8%	3.6%	2.9%	2.2%	1.8%	-7.7%	1.4%	2.0%	2.0%	-15.9%	2.6%	2.2%	2.2%	2.18%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.58	0.49	0.51	0.51	0.50	0.48	0.43	0.29	0.81	0.51	0.33	0.49	0.49	0.44	0.46	0.42	0.17	1.34	1.21	1.36	1.358
Interest Burden (EBT/EBIT)	0.89	0.94	0.95	0.96	0.98	1.05	1.10	3.02	1.03	11.47	0.27	0.59	0.81	0.83	0.83	0.81	0.66	-3.05	54.27	-0.88	-0.883
EBIT Margin	0.09	0.12	0.13	0.13	0.12	0.08	0.04	0.01	-0.01	-0.00	0.02	0.04	0.11	0.14	0.15	0.14	0.08	0.01	-0.00	0.01	0.015
Asset Turnover	0.75	0.78	0.82	0.88	0.87	0.76	0.73	0.70	0.69	0.69	0.74	0.78	0.77	0.76	0.79	0.79	0.75	0.76	0.78	0.81	0.811
Equity Multiplier	4.02	3.90	3.73	3.56	3.47	3.27	3.14	3.05	2.99	2.94	2.81	2.72	2.76	2.81	2.67	2.60	2.66	2.64	2.57	2.52	2.523

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$3.50	$4.46	$5.54	$5.77	$5.32	$3.16	$1.40	$0.31	$-0.82	$-0.35	$0.09	$0.91	$3.13	$3.79	$4.11	$3.44	$0.65	$-2.02	$-2.54	$-1.33	$-1.33
Book Value/Share	$26.54	$29.11	$30.88	$30.97	$31.26	$33.64	$33.21	$33.01	$32.70	$32.84	$32.57	$33.78	$35.88	$36.35	$37.28	$37.60	$36.75	$35.90	$35.99	$36.64	$49.10
Tangible Book/Share	$13.22	$15.78	$17.55	$17.65	$17.94	$20.31	$19.88	$19.69	$19.38	$19.51	$19.25	$20.45	$22.46	$22.94	$23.87	$24.18	$23.34	$22.49	$22.58	$23.22	$23.22
Revenue/Share	$74.74	$80.58	$84.79	$88.62	$87.83	$77.98	$73.20	$68.73	$65.66	$67.43	$68.76	$70.60	$72.87	$73.85	$74.13	$73.46	$72.40	$72.88	$73.63	$75.94	$75.94
FCF/Share	$8.13	$13.88	$10.93	$11.82	$7.91	$-1.15	$-4.81	$-5.50	$-4.09	$-1.56	$1.58	$2.13	$1.37	$0.46	$-3.57	$-4.29	$-4.86	$-2.88	$1.05	$2.20	$2.20
OCF/Share	$10.39	$16.13	$13.34	$14.41	$10.47	$1.22	$-2.42	$-3.09	$-1.90	$0.14	$2.87	$2.94	$2.22	$1.54	$-2.21	$-2.63	$-3.17	$-1.25	$2.61	$3.92	$3.92
Cash/Share	$19.55	$24.60	$22.53	$22.69	$20.41	$19.42	$14.00	$13.91	$14.93	$16.25	$13.08	$13.58	$11.11	$12.29	$6.89	$6.70	$6.55	$7.91	$7.41	$7.45	$7.45
EBITDA/Share	$8.89	$11.72	$13.44	$13.96	$12.86	$8.24	$4.97	$2.27	$0.93	$1.82	$2.89	$5.25	$10.19	$12.66	$13.28	$12.45	$7.97	$2.82	$2.34	$3.60	$3.60
Debt/Share	$25.15	$23.60	$23.24	$21.65	$19.66	$20.38	$20.41	$20.08	$19.44	$19.96	$18.72	$18.25	$22.21	$20.49	$22.06	$22.98	$23.97	$21.46	$22.64	$21.18	$21.18
Net Debt/Share	$5.60	$-1.00	$0.71	$-1.04	$-0.75	$0.95	$6.40	$6.17	$4.51	$3.72	$5.64	$4.67	$11.10	$8.20	$15.16	$16.28	$17.42	$13.55	$15.22	$13.72	$13.72

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.780
Altman Z-Prime	snapshot only																				3.305
Piotroski F-Score	8	8	8	7	7	4	3	2	2	4	6	8	6	6	5	3	4	4	5	7	7
Beneish M-Score	-2.72	-2.91	-2.60	-2.58	-2.53	-2.06	-1.77	-2.11	-2.19	-2.36	-2.64	-2.62	-2.53	-2.54	-2.39	-2.04	-1.95	-1.08	-2.54	-2.73	-2.733
Ohlson O-Score	snapshot only																				-7.457
ROIC (Greenblatt)	snapshot only																				1.99%
Net-Net WC	snapshot only																				$1.46
EVA	snapshot only																				$-149218000.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				BB-
Credit Score	62.22	64.36	69.07	69.59	70.82	55.93	43.08	30.46	27.90	27.39	35.63	54.52	60.96	59.68	58.57	59.09	50.54	32.05	30.29	36.81	36.807
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				-22.287
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				25
Sector Credit Rank	snapshot only																				24

VHI NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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