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Stocks · Energy · Miscellaneous Products of Petroleum & Coal

VALVOLINE INC

VVV Clue Score48
United States Fiscal year ends September CIK 0001674910
$30.27 -1.85% Close, 9 Oct 2026
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Price $30.27 −4.84% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue2,084.0Operating income394.0Net income304.0EPS, diluted1.49Fiscal year 2018Revenue2,285.0 +9.6%Operating income395.0Net income166.0 −45.4%EPS, diluted0.84 −43.6%Fiscal year 2019Revenue2,390.0 +4.6%Operating income398.0Net income208.0 +25.3%EPS, diluted1.10 +31.0%Fiscal year 2020Revenue727.0 −69.6%Operating income160.2Net income316.6 +52.2%EPS, diluted1.69 +53.6%Fiscal year 2021Revenue1,037.2 +42.7%Operating income240.1Net income420.3 +32.8%EPS, diluted2.29 +35.5%Fiscal year 2022Revenue1,236.1 +19.2%Operating income220.3Net income424.3 +1.0%EPS, diluted2.35 +2.6%Fiscal year 2023Revenue1,443.5 +16.8%Operating income247.2Net income1,419.7 +234.6%EPS, diluted8.73 +271.5%Fiscal year 2024Revenue1,619.0 +12.2%Operating income367.2Net income211.5 −85.1%EPS, diluted1.61 −81.6%Fiscal year 2025Revenue1,710.3 +5.6%Operating income389.9Net income210.7 −0.4%EPS, diluted1.64 +1.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,084.0 2,285.0 2,390.0 727.0 1,037.2 1,236.1 1,443.5 1,619.0 1,710.3
Growth +9.6% +4.6% −69.6% +42.7% +19.2% +16.8% +12.2% +5.6%
Operating income 394.0 395.0 398.0 160.2 240.1 220.3 247.2 367.2 389.9
Net income 304.0 166.0 208.0 316.6 420.3 424.3 1,419.7 211.5 210.7
Growth −45.4% +25.3% +52.2% +32.8% +1.0% +234.6% −85.1% −0.4%
EPS, diluted 1.49 0.84 1.10 1.69 2.29 2.35 8.73 1.61 1.64
Growth −43.6% +31.0% +53.6% +35.5% +2.6% +271.5% −81.6% +1.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin37.2%Operating margin18.9%Net margin14.6%Free cash flow margin−9.5%Fiscal year 2018Gross margin35.3%Operating margin17.3%Net margin7.3%Free cash flow margin9.9%Fiscal year 2019Gross margin33.9%Operating margin16.7%Net margin8.7%Free cash flow margin9.1%Fiscal year 2020Gross margin41.4%Operating margin22.0%Net margin43.5%Free cash flow margin38.2%Fiscal year 2021Gross margin41.7%Operating margin23.1%Net margin40.5%Free cash flow margin29.0%Fiscal year 2022Gross margin38.5%Operating margin17.8%Net margin34.3%Free cash flow margin12.3%Fiscal year 2023Gross margin37.7%Operating margin17.1%Net margin98.4%Free cash flow margin−15.3%Fiscal year 2024Gross margin38.2%Operating margin22.7%Net margin13.1%Free cash flow margin2.5%Fiscal year 2025Gross margin38.5%Operating margin22.8%Net margin12.3%Free cash flow margin2.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 37.2% 35.3% 33.9% 41.4% 41.7% 38.5% 37.7% 38.2% 38.5%
Operating margin 18.9% 17.3% 16.7% 22.0% 23.1% 17.8% 17.1% 22.7% 22.8%
Net margin 14.6% 7.3% 8.7% 43.5% 40.5% 34.3% 98.4% 13.1% 12.3%
Free cash flow margin −9.5% 9.9% 9.1% 38.2% 29.0% 12.3% −15.3% 2.5% 2.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−130.0Capital expenditure−68.0Free cash flow−198.0Buybacks−50.0Dividends paid−40.0Fiscal year 2018Operating cash flow320.0Capital expenditure−93.0Free cash flow227.0Buybacks−325.0Dividends paid−58.0Fiscal year 2019Operating cash flow325.0Capital expenditure−108.0Free cash flow217.0 −4.4%Buybacks0.0Dividends paid−80.0Fiscal year 2020Operating cash flow371.7Capital expenditure−94.0Free cash flow277.7 +28.0%Buybacks−59.8Dividends paid−84.3Fiscal year 2021Operating cash flow403.9Capital expenditure−103.1Free cash flow300.8 +8.3%Buybacks−126.9Dividends paid−90.9Fiscal year 2022Operating cash flow284.2Capital expenditure−132.0Free cash flow152.2 −49.4%Buybacks−142.6Dividends paid−89.2Fiscal year 2023Operating cash flow−40.8Capital expenditure−180.5Free cash flow−221.3 −245.4%Buybacks−1,524.8Dividends paid−21.8Fiscal year 2024Operating cash flow265.1Capital expenditure−224.4Free cash flow40.7Buybacks−226.8Dividends paid0.0Fiscal year 2025Operating cash flow297.2Capital expenditure−259.2Free cash flow38.0 −6.6%Buybacks−76.8Dividends paid0.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −130.0 320.0 325.0 371.7 403.9 284.2 −40.8 265.1 297.2
Capital expenditure −68.0 −93.0 −108.0 −94.0 −103.1 −132.0 −180.5 −224.4 −259.2
Free cash flow −198.0 227.0 217.0 277.7 300.8 152.2 −221.3 40.7 38.0
Growth −4.4% +28.0% +8.3% −49.4% −245.4% −6.6%
Buybacks −50.0 −325.0 0.0 −59.8 −126.9 −142.6 −1,524.8 −226.8 −76.8
Dividends paid −40.0 −58.0 −80.0 −84.3 −90.9 −89.2 −21.8 0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash201.0Total debt1,049.0Net cash (debt)−848.0Shareholders’ equity−117.0Fiscal year 2018Cash96.0Total debt1,322.0Net cash (debt)−1,226.0Shareholders’ equity−358.0Fiscal year 2019Cash159.0Total debt1,342.0Net cash (debt)−1,183.0Shareholders’ equity−257.8Fiscal year 2020Cash639.7Total debt1,962.0Net cash (debt)−1,322.3Shareholders’ equity−76.0Fiscal year 2021Cash122.6Total debt1,654.7Net cash (debt)−1,532.1Shareholders’ equity134.5Debt to equity12.30Fiscal year 2022Cash23.4Total debt1,687.6Net cash (debt)−1,664.2Shareholders’ equity306.6Debt to equity5.50Fiscal year 2023Cash409.1Total debt1,586.1Net cash (debt)−1,177.0Shareholders’ equity203.2Debt to equity7.81Fiscal year 2024Cash68.3Total debt1,093.8Net cash (debt)−1,025.5Shareholders’ equity185.6Debt to equity5.89Fiscal year 2025Cash51.6Total debt1,074.0Net cash (debt)−1,022.4Shareholders’ equity338.5Debt to equity3.17
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 201.0 96.0 159.0 639.7 122.6 23.4 409.1 68.3 51.6
Total debt 1,049.0 1,322.0 1,342.0 1,962.0 1,654.7 1,687.6 1,586.1 1,093.8 1,074.0
Net cash (debt) −848.0 −1,226.0 −1,183.0 −1,322.3 −1,532.1 −1,664.2 −1,177.0 −1,025.5 −1,022.4
Shareholders’ equity −117.0 −358.0 −257.8 −76.0 134.5 306.6 203.2 185.6 338.5
Debt to equity n/a n/a n/a n/a 12.30 5.50 7.81 5.89 3.17

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Margins
37.2% 35.3% 33.9% 41.4% 41.7% 38.5% 37.7% 38.2% 38.5%
18.9% 17.3% 16.7% 22.0% 23.1% 17.8% 17.1% 22.7% 22.8%
23.5% 14.5% 11.1% 16.9% 25.1% 11.7% 16.4% 17.5% 17.1%
14.6% 7.3% 8.7% 43.5% 40.5% 34.3% 98.4% 13.1% 12.3%
−9.5% 9.9% 9.1% 38.2% 29.0% 12.3% −15.3% 2.5% 2.2%
Spending
0.6% 0.6% 0.5% 1.8% 1.4% n/a n/a n/a n/a
19.0% 18.8% 18.8% 24.4% 21.6% 19.8% 18.3% 18.8% 20.5%
3.3% 4.1% 4.5% 12.9% 9.9% 10.7% 12.5% 13.9% 15.2%
38.0% 50.0% 21.5% 43.4% 23.0% 24.1% 15.7% 24.4% 26.5%
Returns
n/a n/a n/a n/a 312.5% 138.4% 698.7% 114.0% 62.2%
15.9% 9.0% 10.1% 10.4% 13.2% 12.4% 49.1% 8.7% 7.9%
Balance and payout
n/a n/a n/a n/a 12.30 5.50 7.81 5.89 3.17
13.2% 34.9% 38.5% 26.6% 21.6% 21.0% 1.5% 0.0% 0.0%
n/a 168.7% 36.9% 51.9% 72.4% 152.3% n/a 557.2% 202.1%