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Side-by-side financial comparison of Axos Financial, Inc. (AX) 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 $392.2M, roughly 1.3× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 31.8% vs -10.8%, a 42.5% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs -3.5%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
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.
AX vs VHI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $494.5M |
| Net Profit | $124.7M | $-53.2M |
| Gross Margin | — | 6.9% |
| Operating Margin | — | -6.2% |
| Net Margin | 31.8% | -10.8% |
| Revenue YoY | — | 2.8% |
| Net Profit YoY | 18.5% | -333.3% |
| EPS (diluted) | $2.15 | $-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.
| Q1 26 | $392.2M | — | ||
| Q4 25 | $385.1M | $494.5M | ||
| Q3 25 | $323.4M | $503.5M | ||
| Q2 25 | $321.4M | $540.4M | ||
| Q1 25 | $308.8M | $538.6M | ||
| Q4 24 | $307.9M | $480.9M | ||
| Q3 24 | $320.7M | $533.6M | ||
| Q2 24 | $290.9M | $559.7M |
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $-53.2M | ||
| Q3 25 | $112.4M | $-22.2M | ||
| Q2 25 | $110.7M | $900.0K | ||
| Q1 25 | $105.2M | $16.9M | ||
| Q4 24 | $104.7M | $22.8M | ||
| Q3 24 | $112.3M | $57.5M | ||
| Q2 24 | $104.9M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 14.5% | ||
| Q1 25 | — | 22.7% | ||
| Q4 24 | — | 20.9% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 21.7% |
| Q1 26 | — | — | ||
| Q4 25 | 45.6% | -6.2% | ||
| Q3 25 | 46.3% | 1.7% | ||
| Q2 25 | 48.5% | 6.6% | ||
| Q1 25 | 47.9% | 9.3% | ||
| Q4 24 | 48.8% | 11.8% | ||
| Q3 24 | 49.6% | 12.7% | ||
| Q2 24 | 49.6% | 9.8% |
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | -10.8% | ||
| Q3 25 | 34.7% | -4.4% | ||
| Q2 25 | 34.4% | 0.2% | ||
| Q1 25 | 34.1% | 3.1% | ||
| Q4 24 | 34.0% | 4.7% | ||
| Q3 24 | 35.0% | 10.8% | ||
| Q2 24 | 36.0% | 3.6% |
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $-1.86 | ||
| Q3 25 | $1.94 | $-0.78 | ||
| Q2 25 | $1.89 | $0.03 | ||
| Q1 25 | $1.81 | $0.59 | ||
| Q4 24 | $1.80 | $0.81 | ||
| Q3 24 | $1.93 | $2.01 | ||
| Q2 24 | $1.75 | $0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $216.9M |
| Total DebtLower is stronger | — | $590.9M |
| Stockholders' EquityBook value | $3.1B | $1.0B |
| Total Assets | $29.2B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $216.9M | ||
| Q3 25 | $2.6B | $186.6M | ||
| Q2 25 | $1.9B | $190.9M | ||
| Q1 25 | $2.0B | $196.4M | ||
| Q4 24 | $2.4B | $350.2M | ||
| Q3 24 | $2.6B | $316.7M | ||
| Q2 24 | $2.0B | $386.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $590.9M | ||
| Q3 25 | — | $661.5M | ||
| Q2 25 | $312.7M | $544.8M | ||
| Q1 25 | $377.4M | $525.9M | ||
| Q4 24 | $358.7M | $484.4M | ||
| Q3 24 | $313.5M | $526.6M | ||
| Q2 24 | $325.7M | $497.4M |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $1.0B | ||
| Q3 25 | $2.8B | $1.0B | ||
| Q2 25 | $2.7B | $1.1B | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.3B | $962.6M |
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $2.6B | ||
| Q3 25 | $27.4B | $2.7B | ||
| Q2 25 | $24.8B | $2.8B | ||
| Q1 25 | $24.0B | $2.8B | ||
| Q4 24 | $23.7B | $2.8B | ||
| Q3 24 | $23.6B | $2.8B | ||
| Q2 24 | $22.9B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | 0.12× | 0.51× | ||
| Q1 25 | 0.14× | 0.49× | ||
| Q4 24 | 0.14× | 0.47× | ||
| Q3 24 | 0.13× | 0.52× | ||
| Q2 24 | 0.14× | 0.52× |
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 | — | $100.6M |
| Free Cash FlowOCF − Capex | — | $89.8M |
| FCF MarginFCF / Revenue | — | 18.2% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-82.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $100.6M | ||
| Q3 25 | $118.4M | $-1.9M | ||
| Q2 25 | $490.3M | $21.7M | ||
| Q1 25 | $73.7M | $-155.9M | ||
| Q4 24 | $162.5M | $45.8M | ||
| Q3 24 | $70.8M | $13.5M | ||
| Q2 24 | $305.5M | $33.5M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $89.8M | ||
| Q3 25 | $109.3M | $-12.3M | ||
| Q2 25 | $436.1M | $9.1M | ||
| Q1 25 | $65.1M | $-168.7M | ||
| Q4 24 | $156.4M | $33.3M | ||
| Q3 24 | $53.0M | $3.9M | ||
| Q2 24 | $269.5M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 18.2% | ||
| Q3 25 | 33.8% | -2.4% | ||
| Q2 25 | 135.7% | 1.7% | ||
| Q1 25 | 21.1% | -31.3% | ||
| Q4 24 | 50.8% | 6.9% | ||
| Q3 24 | 16.5% | 0.7% | ||
| Q2 24 | 92.6% | 5.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 2.2% | ||
| Q3 25 | 2.8% | 2.1% | ||
| Q2 25 | 16.9% | 2.3% | ||
| Q1 25 | 2.8% | 2.4% | ||
| Q4 24 | 2.0% | 2.6% | ||
| Q3 24 | 5.5% | 1.8% | ||
| Q2 24 | 12.4% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 4.43× | 24.11× | ||
| Q1 25 | 0.70× | -9.22× | ||
| Q4 24 | 1.55× | 2.01× | ||
| Q3 24 | 0.63× | 0.23× | ||
| Q2 24 | 2.91× | 1.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
VHI
| Chemicals | $418.3M | 85% |
| Real Estate Management And Development | $38.5M | 8% |
| Security Products | $29.5M | 6% |
| Marine Components | $8.2M | 2% |
