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Valvoline

VVV NYSE Automotive Retail Financials FY2016–FY2025

Valvoline's revenue rose 5.6% to $1.7 billion in fiscal 2025. Its operating margin was 22.8%, up from 22.7% a year earlier. Free cash flow was $38 million, down 6.6%. It paid out $77 million in dividends and buybacks, 202% of free cash flow. The diluted share count fell 1.8%.

Last close · Oct 23, 2026

$31.63

2.5%
Value it Compare
Revenue Total sales reported in the income statement.
$1.7B
5.6% vs prior year
Operating margin Operating income as a share of revenue.
22.8%
0.1 pts
Net income Profit after all expenses, interest and tax.
$211M
0.4%
Free cash flow Cash from operations minus capital spending.
$38.0M
6.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
18.9%
1.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
39.5x
On $0.80 EPS (TTM)

What Valvoline does

No business description yet.

Legal name
VALVOLINE INC.
Fiscal year ends
September 30, 2025
Latest annual report
—
Accession · CIK
0001674910-25-000135
0001674910

Revenue and margins

Valvoline had $1.7B of revenue in fiscal 2025, up 5.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 0.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $38.0M in fiscal 2025, 2.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Valvoline returned $76.8M to shareholders in fiscal 2025, 202% of free cash flow. The diluted share count fell 1.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Valvoline yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.3B and divides by 128.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 39.5x · peers 16.5x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Valvoline can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $123M$23.4M$757M$68.3M$51.6M
Debt incl. finance leases $1.8B$1.9B$1.8B$1.3B$1.3B
Net debt / EBITDA 5.7x6.4x3.1x2.6x2.5x
Debt / equity —6.2x8.8x7.1x3.9x
Interest coverage 2.2x3.2x6.5x5.1x5.3x
Current ratio 1.8x1.8x2.6x0.7x0.7x
Quick ratio 1.8x1.7x2.5x0.6x0.6x
Total assets $3.2B$3.4B$2.9B$2.4B$2.7B
Total liabilities $3.1B$3.1B$2.7B$2.3B$2.3B
Shareholders' equity $135M$307M$203M$186M$339M
Net debt (− = net cash) $1.7B$1.9B$1.0B$1.2B$1.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.0M

5 insiders

Sold, 12 months

$0.6M

2 insiders

Of sales under plans

39%

$0.3M

DateInsiderTradeSharesPriceValueFiling
Aug 21, 2026 Julie Marie O'DanielChief Legal Officer Sold 3,700 $33.82 $0.1M Form 4
Aug 12, 2026 Jordan M. DennyChief Accounting Officer Bought 1,506 $33.20 $0.0M Form 4
Jun 25, 2026 Jonathan L. CaldwellChief People Officer Sold plan 2,851 $40.00 $0.1M Form 4
May 15, 2026 Jennifer Lynn SlaterDirector Bought 1,000 $32.53 $0.0M Form 4
May 14, 2026 Richard Joseph FreelandDirector Bought 3,100 $32.37 $0.1M Form 4
May 14, 2026 Willis J KevinChief Financial Officer Bought 10,000 $31.80 $0.3M Form 4
Mar 3, 2026 Jonathan L. CaldwellChief People Officer Sold plan 2,679 $37.54 $0.1M Form 4
Mar 2, 2026 Jonathan L. CaldwellChief People Officer Sold plan 983 $38.00 $0.0M Form 4
Feb 20, 2026 Julie Marie O'DanielChief Legal Officer Sold 4,312 $38.55 $0.2M Form 4
Nov 26, 2025 Julie Marie O'DanielChief Legal Officer Sold 3,200 $31.88 $0.1M Form 4
Nov 24, 2025 Lori Ann FleesPresident & CEO, Director Bought 4,500 $30.82 $0.1M Form 4
Nov 21, 2025 Willis J KevinChief Financial Officer Bought 10,000 $31.41 $0.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✕ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 6 / 97 / 97 / 9
Accruals ratio 46.3%−2.0%−3.4%
Altman Z'' 2.121.001.21

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Valvoline VVV $4.1B 5.6% 22.8% 2.2% 18.9% 39.5x 7
PHINIA PHIN $2.2B 2.4% 7.3% 5.4% — 16.5x — Compare →
Camping World CWH — 4.4% 2.8% — 4.9% — — Compare →
Advance Auto Parts AAP $2.9B −5.4% −0.5% −3.5% −1.5% 34.3x 5 Compare →
Sonic Automotive SAH $2.0B 6.5% 2.4% 2.8% 12.2% 9.8x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.9B $2.1B $2.3B $2.4B $727M $1.0B $1.2B $1.4B $1.6B $1.7B
Gross profit $748M $776M $806M $810M $301M $432M $476M $545M $619M $659M
Research and development $13.0M $13.0M $14.0M $13.0M $13.0M $15.0M — — — —
Operating income $396M $394M $395M $398M $160M $240M $220M $247M $367M $390M
Interest expense $9.0M $42.0M $63.0M $73.0M $92.1M $108M $69.3M $38.3M $71.9M $74.0M
Pretax income $421M $490M $332M $265M $123M $260M $144M $237M $284M $292M
Income tax $148M $186M $166M $57.0M $53.4M $59.9M $34.7M $37.1M $69.1M $77.5M
Net income $273M $304M $166M $208M $317M $420M $424M $1.4B $212M $211M
Diluted EPS $1.60 $1.49 $0.84 $1.10 $1.69 $2.29 $2.35 $8.73 $1.61 $1.64
Diluted shares 0.17B 0.20B 0.20B 0.19B 0.19B 0.18B 0.18B 0.16B 0.13B 0.13B
Cash flow
Cash from operations $311M −$130M $320M $325M $372M $404M $284M −$40.8M $265M $297M
Capital expenditure $66.0M $68.0M $93.0M $108M $94.0M $103M $132M $181M $224M $259M
Free cash flow $245M −$198M $227M $217M $278M $301M $152M −$221M $40.7M $38.0M
Depreciation and amortization $38.0M $42.0M $55.0M $61.0M $31.2M $62.8M $71.3M $88.8M $106M $119M
Stock-based compensation $0.0M $9.0M $12.0M $9.0M $12.1M $13.7M $14.4M $12.2M $12.0M $10.5M
Acquisitions $83.0M $68.0M $125M $78.0M $40.1M $282M $50.7M $36.3M $52.7M $65.0M
Share buybacks $0.0M $50.0M $325M $0.0M $59.8M $127M $143M $1.5B $227M $76.8M
Dividends paid $0.0M $40.0M $58.0M $80.0M $84.3M $90.9M $89.2M $21.8M $0.0M $0.0M
Dividends and buybacks $0.0M $90.0M $383M $80.0M $144M $218M $232M $1.5B $227M $76.8M
Balance sheet
Cash and short-term investments $172M $201M $96.0M $159M $640M $123M $23.4M $757M $68.3M $51.6M
Total debt $743M $1.1B $1.3B $1.3B $2.0B $1.7B $1.7B $1.6B $1.1B $1.1B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $73.0M $187M $200M $211M $221M $245M
Current assets $730M $790M $725M $797M $1.4B $1.0B $1.6B $937M $255M $244M
Current liabilities $400M $478M $411M $423M $444M $569M $919M $362M $354M $347M
Inventory $139M $175M $176M $194M $199M $27.4M $29.4M $33.3M $39.7M $42.6M
Property and equipment, net $324M $391M $420M $498M $613M $560M $669M $818M $959M $1.1B
Total assets $1.8B $1.9B $1.9B $2.1B $3.1B $3.2B $3.4B $2.9B $2.4B $2.7B
Total liabilities $2.2B $2.0B $2.2B $2.3B $3.1B $3.1B $3.1B $2.7B $2.3B $2.3B
Shareholders' equity −$330M −$117M −$358M −$258M −$76.0M $135M $307M $203M $186M $339M
Margins
Gross margin 38.8% 37.2% 35.3% 33.9% 41.4% 41.7% 38.5% 37.7% 38.2% 38.5%
Operating margin 20.5% 18.9% 17.3% 16.7% 22.0% 23.2% 17.8% 17.1% 22.7% 22.8%
EBITDA margin 22.5% 20.9% 19.7% 19.2% 26.3% 29.2% 23.6% 23.3% 29.2% 29.8%
Net margin 14.2% 14.6% 7.3% 8.7% 43.6% 40.5% 34.3% 98.4% 13.1% 12.3%
FCF margin 12.7% −9.5% 9.9% 9.1% 38.2% 29.0% 12.3% −15.3% 2.5% 2.2%
Returns
Return on capital — 46.7% 23.6% 34.8% 8.1% 11.7% 8.3% 12.2% 20.8% 18.9%
Return on capital employed — 27.5% 27.4% 25.8% 7.5% 9.2% 8.6% 9.8% 15.9% 17.7%
Return on equity — — — — — — 192.4% 557.0% 108.8% 80.4%
Return on assets — 16.3% 8.8% 10.6% 12.4% 13.5% 12.8% 45.0% 7.9% 8.3%
Growth
Revenue growth −1.9% 8.0% 9.6% 4.6% −69.6% 42.7% 19.2% 16.8% 12.2% 5.6%
Net income growth 39.3% 11.4% −45.4% 25.3% 52.2% 32.8% 1.0% 234.6% −85.1% −0.4%
EPS growth 39.1% −6.9% −43.6% 31.0% 53.6% 35.5% 2.6% 271.5% −81.6% 1.9%
FCF growth −14.0% −180.8% — −4.4% 28.0% 8.3% −49.4% −245.4% — −6.6%
Share count change 0.0% 20.0% −3.4% −4.1% −0.8% −2.1% −1.7% −9.9% −19.4% −1.8%
Financial health
Net debt / EBITDA 1.3x 2.1x 2.7x 2.6x 7.3x 5.7x 6.4x 3.1x 2.6x 2.5x
Debt / equity — — — — — — 6.2x 8.8x 7.1x 3.9x
Interest coverage 44.0x 9.4x 6.3x 5.5x 1.7x 2.2x 3.2x 6.5x 5.1x 5.3x
Current ratio 1.8x 1.7x 1.8x 1.9x 3.2x 1.8x 1.8x 2.6x 0.7x 0.7x
Quick ratio 1.5x 1.3x 1.3x 1.4x 2.8x 1.8x 1.7x 2.5x 0.6x 0.6x
Capital allocation
Capex / revenue 3.4% 3.3% 4.1% 4.5% 12.9% 9.9% 10.7% 12.5% 13.9% 15.2%
Stock comp / revenue 0.0% 0.4% 0.5% 0.4% 1.7% 1.3% 1.2% 0.9% 0.7% 0.6%
Payouts / FCF 0.0% — 168.7% 36.9% 51.9% 72.4% 152.3% — 557.3% 202.1%
Quality scores
Piotroski F-score — — 6.0 8.0 7.0 5.0 5.0 6.0 7.0 7.0
Altman Z'' 2.5 2.1 1.7 1.9 2.4 1.6 2.2 2.1 1.0 1.2
Accruals ratio — 23.2% −8.2% −6.0% −2.2% 0.5% 4.2% 46.3% −2.0% −3.4%

Source: SEC EDGAR XBRL filings (CIK 0001674910). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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