Valhi (VHI)
Market Price (4/30/2026): $14.725 | Market Cap: $419.7 MilSector: Materials | Industry: Commodity Chemicals
Valhi (VHI)
Market Price (4/30/2026): $14.725Market Cap: $419.7 MilSector: MaterialsIndustry: Commodity Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldDividend Yield is 2.2% Low stock price volatilityVol 12M is 49% Megatrend and thematic driversMegatrends include Advanced Materials, and Sustainable Infrastructure. Themes include Specialty Chemicals for Performance, and Waste Management Solutions. | Weak multi-year price returns2Y Excs Rtn is -36%, 3Y Excs Rtn is -79% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.8% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 95% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% Key risksVHI key risks include [1] its predominant dependence on the highly cyclical titanium dioxide (TiO2) market and [2] a substantial debt load that weakens its financial position. |
| Attractive yieldDividend Yield is 2.2% |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include Advanced Materials, and Sustainable Infrastructure. Themes include Specialty Chemicals for Performance, and Waste Management Solutions. |
| Weak multi-year price returns2Y Excs Rtn is -36%, 3Y Excs Rtn is -79% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.8% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 95% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16% |
| Key risksVHI key risks include [1] its predominant dependence on the highly cyclical titanium dioxide (TiO2) market and [2] a substantial debt load that weakens its financial position. |
Qualitative Assessment
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Valhi (VHI) stock has gained about 20% since 12/31/2025 because of the following key factors:
1. Better-than-expected Fourth Quarter 2025 Financial Results. Valhi's stock gained following its Q4 2025 earnings report on March 10, 2026. Despite reporting a net loss attributable to stockholders of $53.2 million, or $1.86 per share, the market reacted positively to a "narrower-than-feared" loss and a revenue beat in comparison to analyst expectations.
2. Significant Revenue Growth in Real Estate Management and Development Segment. A key driver within the Q4 2025 results was the substantial performance of the Real Estate Management and Development Segment. This segment's net sales more than doubled, increasing to $38.5 million in the fourth quarter of 2025 from $19.4 million in the same period of 2024. This strong segmental growth contributed positively to the company's overall financial perception.
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1. Better-than-expected Fourth Quarter 2025 Financial Results. Valhi's stock gained following its Q4 2025 earnings report on March 10, 2026. Despite reporting a net loss attributable to stockholders of $53.2 million, or $1.86 per share, the market reacted positively to a "narrower-than-feared" loss and a revenue beat in comparison to analyst expectations.
2. Significant Revenue Growth in Real Estate Management and Development Segment. A key driver within the Q4 2025 results was the substantial performance of the Real Estate Management and Development Segment. This segment's net sales more than doubled, increasing to $38.5 million in the fourth quarter of 2025 from $19.4 million in the same period of 2024. This strong segmental growth contributed positively to the company's overall financial perception.
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Stock Movement Drivers
Fundamental Drivers
The 22.0% change in VHI stock from 12/31/2025 to 4/29/2026 was primarily driven by a 21.2% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.98 | 14.62 | 22.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,063 | 2,077 | 0.7% |
| P/S Multiple | 0.2 | 0.2 | 21.2% |
| Shares Outstanding (Mil) | 28 | 28 | 0.0% |
| Cumulative Contribution | 22.0% |
Market Drivers
12/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| VHI | 22.0% | |
| Market (SPY) | 5.2% | 29.1% |
| Sector (XLB) | 12.9% | 55.7% |
Fundamental Drivers
The -6.2% change in VHI stock from 9/30/2025 to 4/29/2026 was primarily driven by a -5.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.58 | 14.62 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,094 | 2,077 | -0.8% |
| P/S Multiple | 0.2 | 0.2 | -5.4% |
| Shares Outstanding (Mil) | 28 | 28 | 0.0% |
| Cumulative Contribution | -6.2% |
Market Drivers
9/30/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| VHI | -6.2% | |
| Market (SPY) | 8.0% | 24.4% |
| Sector (XLB) | 14.8% | 48.8% |
Fundamental Drivers
The -7.9% change in VHI stock from 3/31/2025 to 4/29/2026 was primarily driven by a -6.7% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.88 | 14.62 | -7.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,105 | 2,077 | -1.3% |
| P/S Multiple | 0.2 | 0.2 | -6.7% |
| Shares Outstanding (Mil) | 28 | 28 | 0.0% |
| Cumulative Contribution | -7.9% |
Market Drivers
3/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| VHI | -7.9% | |
| Market (SPY) | 29.3% | 30.0% |
| Sector (XLB) | 20.9% | 51.0% |
Fundamental Drivers
The -10.7% change in VHI stock from 3/31/2023 to 4/29/2026 was primarily driven by a -6.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.37 | 14.62 | -10.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,222 | 2,077 | -6.5% |
| P/S Multiple | 0.2 | 0.2 | -4.4% |
| Shares Outstanding (Mil) | 28 | 28 | 0.0% |
| Cumulative Contribution | -10.7% |
Market Drivers
3/31/2023 to 4/29/2026| Return | Correlation | |
|---|---|---|
| VHI | -10.7% | |
| Market (SPY) | 81.5% | 29.0% |
| Sector (XLB) | 34.0% | 37.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VHI Return | 92% | -23% | -29% | 56% | -47% | 25% | 7% |
| Peers Return | 41% | -22% | 12% | -22% | -20% | 81% | 39% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 90% |
Monthly Win Rates [3] | |||||||
| VHI Win Rate | 58% | 42% | 50% | 50% | 25% | 75% | |
| Peers Win Rate | 58% | 33% | 44% | 50% | 53% | 75% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VHI Max Drawdown | 0% | -27% | -49% | -18% | -50% | 0% | |
| Peers Max Drawdown | -5% | -38% | -17% | -27% | -40% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TROX, CC, ALLE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/29/2026 (YTD)
How Low Can It Go
| Event | VHI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -79.5% | -25.4% |
| % Gain to Breakeven | 387.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -59.1% | -33.9% |
| % Gain to Breakeven | 144.6% | 51.3% |
| Time to Breakeven | 307 days | 148 days |
| 2018 Correction | ||
| % Loss | -81.0% | -19.8% |
| % Gain to Breakeven | 426.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -80.3% | -56.8% |
| % Gain to Breakeven | 408.8% | 131.3% |
| Time to Breakeven | 276 days | 1,480 days |
Compare to TROX, CC, ALLE
In The Past
Valhi's stock fell -79.5% during the 2022 Inflation Shock from a high on 6/7/2022. A -79.5% loss requires a 387.7% gain to breakeven.
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About Valhi (VHI)
Valhi, Inc. engages in the chemicals, component products, and real estate management and development businesses in the Asia Pacific, Europe, North America, and internationally. The company's Chemicals segment produces and markets titanium dioxide pigments (TiO2), which are white inorganic pigments used in various applications by paint, plastics, decorative laminate, and paper manufacturers. It offers TiO2 under the KRONOS name through agents and distributors. The company's Component Products segment manufactures mechanical and electrical cabinet locks, and other locking mechanisms for use in ignition systems, mailboxes, file cabinets, desk drawers, tool storage cabinets, vending and cash containment machines, integrated inventory and access control secured narcotics boxes, medical cabinetry security, electronic circuit panels, storage compartments, and gas station security applications. It also provides stainless steel exhaust components, gauges, throttle controls, wake enhancement systems, trim tabs, and related hardware and accessories primarily for performance and ski/wakeboard boats. The company's Real Estate Management and Development segment offers utility services to industrial and municipal customers; owns real properties; and develops land holdings for commercial, industrial, and residential purposes. It also holds marketable securities and other investments. The company was incorporated in 1932 and is based in Dallas, Texas. Valhi, Inc. is a subsidiary of Contran Corporation.
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A smaller, industrial-focused Berkshire Hathaway.
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- Titanium Dioxide Pigments (TiO2): White inorganic pigments used in paints, plastics, decorative laminates, and paper manufacturing.
- Locking Mechanisms: Mechanical and electrical cabinet locks and other locking devices for various security and storage applications.
- Marine Components: Stainless steel exhaust components, gauges, throttle controls, wake enhancement systems, trim tabs, and related hardware primarily for performance and ski/wakeboard boats.
- Utility Services: Provision of utility services to industrial and municipal customers.
- Real Estate Development: Development of land holdings for commercial, industrial, and residential purposes.
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```htmlValhi, Inc. (VHI) primarily sells its products and services to other companies (B2B - Business-to-Business) and, in some cases, to municipal entities (B2G - Business-to-Government).
The provided background information describes the industries and applications for Valhi's products and services but does not identify specific customer company names or their symbols. Therefore, a list of named customer companies cannot be provided.
Based on the company description, Valhi's major customer categories include:
- Chemicals Segment: Manufacturers in the paint, plastics, decorative laminate, and paper industries that use titanium dioxide pigments.
- Component Products Segment: Manufacturers of various products requiring mechanical and electrical locking mechanisms (e.g., manufacturers of ignition systems, mailboxes, file cabinets, vending machines, medical cabinetry). Additionally, manufacturers of performance and ski/wakeboard boats that utilize stainless steel exhaust components, gauges, and other marine hardware.
- Real Estate Management and Development Segment: Industrial and municipal customers for utility services, and commercial, industrial, and residential developers or end-users who purchase land holdings.
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- Rio Tinto (RIO)
- TiZir Titanium & Iron AS
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Michael S. Simmons, Chief Executive Officer, President, and Vice Chairman of the Board
Michael S. Simmons serves as the Chief Executive Officer, President, and Vice Chairman of the Board of Valhi, Inc. He has held the titles of CEO, President, and Vice Chairman of the Board since at least 2022. Valhi, Inc. is a holding company controlled by the Simmons family interests through Contran Corporation, a privately-held parent corporation.
Amy Allbach Samford, Executive Vice President and Chief Financial Officer
Amy Allbach Samford is the Executive Vice President and Chief Financial Officer of Valhi, Inc. She has served as Executive Vice President since May 2022 and as Chief Financial Officer since 2021. Her total compensation in the most recent fiscal year data was approximately $1.98 million.
John A. Sunny, Executive Vice President and Chief Information Officer
John A. Sunny holds the position of Executive Vice President and Chief Information Officer at Valhi, Inc.
Andrew B. Nace, Executive Vice President and General Counsel
Andrew B. Nace serves as the Executive Vice President and General Counsel for Valhi, Inc.
Courtney J. Riley, Executive Vice President
Courtney J. Riley is an Executive Vice President at Valhi, Inc. She has served as legal counsel and in environmental positions, including officer positions, with various companies related to Valhi and Contran since 2009.
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Valhi's key risks to the business include:
Exposure to Volatility in the Titanium Dioxide (TiO2) Market: Valhi's Chemicals segment produces and markets titanium dioxide pigments, which are white inorganic pigments used in various applications by paint, plastics, decorative laminate, and paper manufacturers. As a commodity product, TiO2 prices and demand are subject to significant cyclicality and volatility driven by global economic conditions, industrial production levels, and supply-demand imbalances, which can materially impact the segment's revenue and profitability.
Sensitivity to Real Estate Market Fluctuations: The Real Estate Management and Development segment is involved in owning real properties and developing land holdings for commercial, industrial, and residential purposes. This segment is inherently exposed to the cyclical nature of the real estate market, including changes in property values, demand for developed land, interest rate fluctuations, and overall economic conditions, which can affect the segment's financial performance and asset valuations.
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Valhi, Inc. operates in various sectors, with addressable markets for its main products and services as follows:
Chemicals Segment: Titanium Dioxide (TiO2) Pigments
- The global titanium dioxide market size was estimated at USD 22.96 billion in 2025 and is projected to reach USD 38.97 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 6.9% from 2026 to 2033.
- Asia Pacific dominated the global titanium dioxide market with the largest revenue share of 43.2% in 2025.
- The titanium dioxide market in North America is anticipated to grow at a significant CAGR, driven by steady demand from high-performance coatings, automotive refinish, and industrial applications.
- Europe's titanium dioxide market is driven by innovation-led demand, with a strong focus on sustainable materials, advanced coatings, and specialty plastics.
Component Products Segment: Locks and Marine Components
Mechanical and Electrical Cabinet Locks, and Other Locking Mechanisms
- The global mechanical locks market size was valued at USD 12.68 billion in 2025 and is projected to grow to USD 19.41 billion by 2034, at a CAGR of 4.72% during the forecast period.
- North America exhibited a leading global market share of 37.87% in 2025 for mechanical locks.
- The Asia Pacific region's mechanical locks market is projected to grow at the fastest rate of 5.48% from 2026 to 2034, and the region secured the position of the third-largest market globally in 2025.
- More broadly, the global locks market, which includes both mechanical and electronic locks, was valued at USD 18.39 billion in 2024 and is projected to reach USD 25.15 billion by 2030, growing at a CAGR of 5.36%.
- Asia Pacific dominates the broader locks market with a market share of around 34%.
Stainless Steel Exhaust Components and Related Hardware for Performance and Ski/Wakeboard Boats
- The recreational boat parts and accessories market is projected to reach USD 23.45 billion by 2034, exhibiting a CAGR of 3.47% during the forecast period (2025-2034).
- North America is expected to remain the largest market for recreational boat parts and accessories during the forecast period.
- The Asia-Pacific region is rapidly emerging in the Recreational Boat Parts and Accessories Market, accounting for approximately 20% of the global share.
- The global marine exhaust systems market was valued at approximately USD 5.8 billion in 2024 and is anticipated to reach USD 9.2 billion by 2033, exhibiting a CAGR of 5.3% from 2025 to 2033. Asia Pacific dominates this market.
Real Estate Management and Development Segment
Utility Services to Industrial and Municipal Customers
- The global utilities services market size is expected to be worth around USD 539.3 billion by 2033, from USD 210.6 billion in 2023, growing at a CAGR of 9.9% during the forecast period from 2024 to 2033.
- North America dominated the utilities services market with a 30.5% market share in 2023 and held USD 64.22 billion in revenue.
- The global market for industrial services, which include services for industrial customers, was valued at USD 46.54 billion in 2025 and is projected to grow to USD 91.70 billion by 2034, exhibiting a CAGR of 8.00%.
- North America dominated the industrial services market share of 34.66% in 2023.
Development of Land Holdings for Commercial, Industrial, and Residential Purposes
- The global real estate development market size is anticipated to be worth USD 7.65 billion in 2026, projected to reach USD 11.42 billion by 2035 at a CAGR of 4.5% during the forecast period.
- The broader global real estate market (encompassing development, sales, and rental) was estimated at USD 4,332.38 billion in 2025 and is projected to reach USD 7,351.30 billion by 2033, growing at a CAGR of 7.1% from 2026 to 2033.
- North America dominated the overall real estate market in 2025, holding a significant market share of 33.4%.
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Valhi, Inc. (VHI) is expected to drive future revenue growth over the next two to three years through several key areas:
- Recovery in Titanium Dioxide (TiO2) Pricing and Demand: The Chemicals segment, which produces and markets titanium dioxide pigments, is Valhi's primary revenue generator. Its performance is closely tied to the cyclical nature of TiO2 prices and production volumes. A rebound in global demand and an increase in TiO2 selling prices would directly contribute to significant revenue growth, following recent periods of decline.
- Increased Sales and Improved Margins in the Component Products Segment: Valhi's Component Products segment has demonstrated resilience and improved financial results. Growth in sales, particularly for marine components and security products, combined with enhanced gross margins across these units, is anticipated to be a consistent driver of revenue.
- Real Estate Development and Property Sales: The Real Estate Management and Development segment contributes to Valhi's revenue through the ownership and development of real properties for commercial, industrial, and residential purposes, as well as the sale of land holdings. Strategic real estate transactions and ongoing development projects will provide additional revenue streams.
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Share Issuance
- Valhi's shares outstanding increased by approximately 4.6% in Q4 2025, reaching 30 million shares. This represents an estimated dollar amount of $18.3 million in newly issued shares, based on a stock price of $13.86 per share.
Outbound Investments
- In 2024, Valhi incurred debt to finance the acquisition of LPC, an investment related to its Chemicals Segment.
Capital Expenditures
- Valhi reported capital expenditures of $10.8 million in the fourth quarter of 2025.
- For the full year 2025, Valhi invested $46.6 million in capital expenditures.
- Valhi's expected aggregate capital expenditures for 2025 were approximately $58 million, with the Chemicals Segment accounting for $55 million (including $24 million for environmental compliance, protection, and improvement) and the Component Products Segment for $3 million.
- LandWell, a part of Valhi's Real Estate Management and Development segment, expected to spend approximately $53 million on land development costs in 2025.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Valhi Earnings Notes | 12/16/2025 | |
| Valhi Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 | |
| Valhi (VHI) Operating Cash Flow Comparison | 08/09/2025 | |
| Valhi (VHI) Net Income Comparison | 08/09/2025 | |
| Valhi (VHI) Revenue Comparison | 08/09/2025 | |
| Valhi (VHI) Operating Income Comparison | 08/09/2025 | |
| Valhi (VHI) Debt Comparison | 08/09/2025 | |
| Valhi (VHI) EBITDA Comparison | 08/09/2025 | |
| Valhi (VHI) Tax Expense Comparison | 08/09/2025 | |
| Why Valhi Stock Moved: VHI Stock Has Lost 56% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S) | 08/08/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 20.48 |
| Mkt Cap | 2.7 |
| Rev LTM | 3,528 |
| Op Inc LTM | -19 |
| FCF LTM | -16 |
| FCF 3Y Avg | -90 |
| CFO LTM | 162 |
| CFO 3Y Avg | 122 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.4% |
| Rev Chg 3Y Avg | -3.4% |
| Rev Chg Q | 5.4% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | -107.3% |
| Op Inc Chg 3Y Avg | 42.2% |
| Op Mgn LTM | -0.5% |
| Op Mgn 3Y Avg | 3.1% |
| QoQ Delta Op Mgn LTM | -2.1% |
| CFO/Rev LTM | 3.3% |
| CFO/Rev 3Y Avg | 3.5% |
| FCF/Rev LTM | -1.5% |
| FCF/Rev 3Y Avg | -3.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.7 |
| P/S | 0.6 |
| P/Op Inc | -48.8 |
| P/EBIT | 4.1 |
| P/E | -5.2 |
| P/CFO | 15.1 |
| Total Yield | -9.7% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | -10.8% |
| D/E | 1.3 |
| Net D/E | 0.9 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.1% |
| 3M Rtn | 26.3% |
| 6M Rtn | 48.5% |
| 12M Rtn | 43.9% |
| 3Y Rtn | 0.8% |
| 1M Excs Rtn | -8.3% |
| 3M Excs Rtn | 24.0% |
| 6M Excs Rtn | 42.1% |
| 12M Excs Rtn | 13.5% |
| 3Y Excs Rtn | -74.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chemicals | 1,887 | 1,666 | 1,930 | 1,939 | 1,639 |
| Component products | 146 | 161 | 167 | 141 | 114 |
| Real estate management and development | 72 | 94 | 126 | 216 | 96 |
| Total | 2,105 | 1,922 | 2,222 | 2,296 | 1,850 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chemicals | 138 | -41 | 175 | 201 | 126 |
| Real estate management and development | 55 | 50 | 39 | 97 | 48 |
| Component products | 17 | 25 | 25 | 20 | 12 |
| Total | 211 | 34 | 239 | 319 | 186 |
Price Behavior
Price Behavior
| Market Price | $14.62 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 06/04/1986 | |
| Distance from 52W High | -21.8% | |
| 50 Days | 200 Days | |
| DMA Price | $14.04 | $14.40 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 4.1% | 1.5% |
| 3M | 1YR | |
| Volatility | 43.0% | 49.5% |
| Downside Capture | 0.36 | 0.71 |
| Upside Capture | 61.46 | 80.69 |
| Correlation (SPY) | 26.8% | 26.2% |
VHI Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.15 | 1.23 | 1.53 | 1.15 | 0.83 | 1.08 |
| Up Beta | 2.86 | 3.60 | 3.76 | 1.47 | 0.88 | 1.08 |
| Down Beta | 0.53 | 1.75 | 1.67 | 1.69 | 0.53 | 0.74 |
| Up Capture | 220% | 96% | 192% | 69% | 74% | 129% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 11 | 23 | 34 | 59 | 112 | 333 |
| Down Capture | 68% | 43% | 44% | 92% | 111% | 108% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 19 | 29 | 67 | 140 | 410 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VHI | |
|---|---|---|---|---|
| VHI | -6.7% | 49.4% | 0.02 | - |
| Sector ETF (XLB) | 25.7% | 16.4% | 1.21 | 52.4% |
| Equity (SPY) | 31.5% | 12.5% | 1.93 | 26.3% |
| Gold (GLD) | 35.2% | 27.2% | 1.09 | 8.0% |
| Commodities (DBC) | 46.7% | 18.1% | 1.99 | -8.1% |
| Real Estate (VNQ) | 12.8% | 13.4% | 0.65 | 34.8% |
| Bitcoin (BTCUSD) | -19.6% | 42.1% | -0.40 | 28.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VHI | |
|---|---|---|---|---|
| VHI | -8.8% | 56.0% | 0.05 | - |
| Sector ETF (XLB) | 6.7% | 18.9% | 0.25 | 40.1% |
| Equity (SPY) | 13.1% | 17.1% | 0.60 | 32.7% |
| Gold (GLD) | 20.1% | 17.8% | 0.92 | 8.6% |
| Commodities (DBC) | 14.6% | 19.1% | 0.63 | 14.4% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 29.3% |
| Bitcoin (BTCUSD) | 8.1% | 56.2% | 0.36 | 13.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VHI | |
|---|---|---|---|---|
| VHI | -2.8% | 63.7% | 0.23 | - |
| Sector ETF (XLB) | 10.2% | 20.6% | 0.44 | 37.2% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 29.6% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 3.2% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | 17.6% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 22.7% |
| Bitcoin (BTCUSD) | 67.5% | 66.9% | 1.07 | 11.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/10/2026 | -2.7% | -1.9% | 0.2% |
| 11/6/2025 | 5.5% | -2.0% | -0.7% |
| 8/7/2025 | 1.4% | 11.1% | 7.6% |
| 3/6/2025 | 3.2% | 5.9% | 1.3% |
| 11/7/2024 | 6.9% | -31.9% | -35.9% |
| 8/8/2024 | 12.4% | 38.0% | 70.5% |
| 3/7/2024 | 7.0% | 5.4% | 17.6% |
| 11/6/2023 | 0.4% | 7.0% | 31.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 12 |
| # Negative | 8 | 9 | 6 |
| Median Positive | 5.8% | 11.1% | 15.2% |
| Median Negative | -2.5% | -10.9% | -15.7% |
| Max Positive | 12.4% | 38.0% | 70.5% |
| Max Negative | -21.0% | -31.9% | -35.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/06/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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