vs
Side-by-side financial comparison of AeroVironment Inc (AVAV) and VALHI INC (VHI). Click either name above to swap in a different company.
VALHI INC is the larger business by last-quarter revenue ($494.5M vs $472.5M, roughly 1.0× AeroVironment Inc). AeroVironment Inc runs the higher net margin — -3.6% vs -10.8%, a 7.1% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 2.8%). VALHI INC produced more free cash flow last quarter ($89.8M vs $-55.9M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs -3.5%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
Valhi, Inc. is an American holding company operating through wholly and majority-owned subsidiaries in a number of different industries. It was founded in 1987 as a result of the merger of the LLC Corporation and Amalgamated Sugar Company. The Contran Corporation owned 93% of Valhi's common stock as of December 2014. The chairman of the company was Harold Simmons until his death in 2013. As of 2014 it was a Fortune 1000 company.
AVAV vs VHI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $494.5M |
| Net Profit | $-17.1M | $-53.2M |
| Gross Margin | 22.0% | 6.9% |
| Operating Margin | -6.4% | -6.2% |
| Net Margin | -3.6% | -10.8% |
| Revenue YoY | 181.9% | 2.8% |
| Net Profit YoY | -875.1% | -333.3% |
| EPS (diluted) | $-0.34 | $-1.86 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $472.5M | $494.5M | ||
| Q3 25 | $454.7M | $503.5M | ||
| Q2 25 | $275.1M | $540.4M | ||
| Q1 25 | $167.6M | $538.6M | ||
| Q4 24 | $188.5M | $480.9M | ||
| Q3 24 | $189.5M | $533.6M | ||
| Q2 24 | $197.0M | $559.7M | ||
| Q1 24 | $186.6M | $530.6M |
| Q4 25 | $-17.1M | $-53.2M | ||
| Q3 25 | $-67.4M | $-22.2M | ||
| Q2 25 | $16.7M | $900.0K | ||
| Q1 25 | $-1.8M | $16.9M | ||
| Q4 24 | $7.5M | $22.8M | ||
| Q3 24 | $21.2M | $57.5M | ||
| Q2 24 | $6.0M | $19.9M | ||
| Q1 24 | $13.9M | $7.8M |
| Q4 25 | 22.0% | 6.9% | ||
| Q3 25 | 20.9% | 12.0% | ||
| Q2 25 | 36.5% | 14.5% | ||
| Q1 25 | 37.7% | 22.7% | ||
| Q4 24 | 39.1% | 20.9% | ||
| Q3 24 | 43.0% | 21.8% | ||
| Q2 24 | 38.4% | 21.7% | ||
| Q1 24 | 36.1% | 16.3% |
| Q4 25 | -6.4% | -6.2% | ||
| Q3 25 | -15.2% | 1.7% | ||
| Q2 25 | 5.0% | 6.6% | ||
| Q1 25 | -1.8% | 9.3% | ||
| Q4 24 | 3.7% | 11.8% | ||
| Q3 24 | 12.2% | 12.7% | ||
| Q2 24 | 3.0% | 9.8% | ||
| Q1 24 | 7.7% | 5.9% |
| Q4 25 | -3.6% | -10.8% | ||
| Q3 25 | -14.8% | -4.4% | ||
| Q2 25 | 6.1% | 0.2% | ||
| Q1 25 | -1.0% | 3.1% | ||
| Q4 24 | 4.0% | 4.7% | ||
| Q3 24 | 11.2% | 10.8% | ||
| Q2 24 | 3.1% | 3.6% | ||
| Q1 24 | 7.4% | 1.5% |
| Q4 25 | $-0.34 | $-1.86 | ||
| Q3 25 | $-1.44 | $-0.78 | ||
| Q2 25 | $0.59 | $0.03 | ||
| Q1 25 | $-0.06 | $0.59 | ||
| Q4 24 | $0.27 | $0.81 | ||
| Q3 24 | $0.75 | $2.01 | ||
| Q2 24 | $0.18 | $0.70 | ||
| Q1 24 | $0.50 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | $216.9M |
| Total DebtLower is stronger | $747.5M | $590.9M |
| Stockholders' EquityBook value | $4.4B | $1.0B |
| Total Assets | $5.6B | $2.6B |
| Debt / EquityLower = less leverage | 0.17× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $216.9M | ||
| Q3 25 | $685.8M | $186.6M | ||
| Q2 25 | $40.9M | $190.9M | ||
| Q1 25 | $47.0M | $196.4M | ||
| Q4 24 | $69.0M | $350.2M | ||
| Q3 24 | $81.2M | $316.7M | ||
| Q2 24 | $73.3M | $386.9M | ||
| Q1 24 | $107.7M | $372.7M |
| Q4 25 | $747.5M | $590.9M | ||
| Q3 25 | $747.5M | $661.5M | ||
| Q2 25 | $30.0M | $544.8M | ||
| Q1 25 | $25.0M | $525.9M | ||
| Q4 24 | $15.0M | $484.4M | ||
| Q3 24 | $17.5M | $526.6M | ||
| Q2 24 | $28.0M | $497.4M | ||
| Q1 24 | $40.0M | $511.2M |
| Q4 25 | $4.4B | $1.0B | ||
| Q3 25 | $4.4B | $1.0B | ||
| Q2 25 | $886.5M | $1.1B | ||
| Q1 25 | $861.1M | $1.1B | ||
| Q4 24 | $858.4M | $1.0B | ||
| Q3 24 | $845.5M | $1.0B | ||
| Q2 24 | $822.7M | $962.6M | ||
| Q1 24 | $813.0M | $928.2M |
| Q4 25 | $5.6B | $2.6B | ||
| Q3 25 | $5.6B | $2.7B | ||
| Q2 25 | $1.1B | $2.8B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $1.0B | $2.8B | ||
| Q3 24 | $999.2M | $2.8B | ||
| Q2 24 | $1.0B | $2.5B | ||
| Q1 24 | $980.3M | $2.6B |
| Q4 25 | 0.17× | 0.58× | ||
| Q3 25 | 0.17× | 0.63× | ||
| Q2 25 | 0.03× | 0.51× | ||
| Q1 25 | 0.03× | 0.49× | ||
| Q4 24 | 0.02× | 0.47× | ||
| Q3 24 | 0.02× | 0.52× | ||
| Q2 24 | 0.03× | 0.52× | ||
| Q1 24 | 0.05× | 0.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-45.1M | $100.6M |
| Free Cash FlowOCF − Capex | $-55.9M | $89.8M |
| FCF MarginFCF / Revenue | -11.8% | 18.2% |
| Capex IntensityCapex / Revenue | 2.3% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $-82.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $100.6M | ||
| Q3 25 | $-123.7M | $-1.9M | ||
| Q2 25 | $-264.0K | $21.7M | ||
| Q1 25 | $-25.8M | $-155.9M | ||
| Q4 24 | $-3.6M | $45.8M | ||
| Q3 24 | $28.4M | $13.5M | ||
| Q2 24 | $-11.7M | $33.5M | ||
| Q1 24 | $52.6M | $-48.8M |
| Q4 25 | $-55.9M | $89.8M | ||
| Q3 25 | $-146.5M | $-12.3M | ||
| Q2 25 | $-8.8M | $9.1M | ||
| Q1 25 | $-29.6M | $-168.7M | ||
| Q4 24 | $-8.7M | $33.3M | ||
| Q3 24 | $22.9M | $3.9M | ||
| Q2 24 | $-20.8M | $29.7M | ||
| Q1 24 | $48.8M | $-53.8M |
| Q4 25 | -11.8% | 18.2% | ||
| Q3 25 | -32.2% | -2.4% | ||
| Q2 25 | -3.2% | 1.7% | ||
| Q1 25 | -17.7% | -31.3% | ||
| Q4 24 | -4.6% | 6.9% | ||
| Q3 24 | 12.1% | 0.7% | ||
| Q2 24 | -10.5% | 5.3% | ||
| Q1 24 | 26.1% | -10.1% |
| Q4 25 | 2.3% | 2.2% | ||
| Q3 25 | 5.0% | 2.1% | ||
| Q2 25 | 3.1% | 2.3% | ||
| Q1 25 | 2.3% | 2.4% | ||
| Q4 24 | 2.7% | 2.6% | ||
| Q3 24 | 2.9% | 1.8% | ||
| Q2 24 | 4.6% | 0.7% | ||
| Q1 24 | 2.0% | 0.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.02× | 24.11× | ||
| Q1 25 | — | -9.22× | ||
| Q4 24 | -0.48× | 2.01× | ||
| Q3 24 | 1.34× | 0.23× | ||
| Q2 24 | -1.93× | 1.68× | ||
| Q1 24 | 3.79× | -6.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
VHI
| Chemicals | $418.3M | 85% |
| Real Estate Management And Development | $38.5M | 8% |
| Security Products | $29.5M | 6% |
| Marine Components | $8.2M | 2% |
