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Side-by-side financial comparison of DIAMOND HILL INVESTMENT GROUP INC (DHIL) and Valneva SE (VALN). Click either name above to swap in a different company.

DIAMOND HILL INVESTMENT GROUP INC is the larger business by last-quarter revenue ($36.6M vs $36.2M, roughly 1.0× Valneva SE). DIAMOND HILL INVESTMENT GROUP INC runs the higher net margin — 25.3% vs -54.1%, a 79.4% gap on every dollar of revenue.

Diamond Baseball Holdings (DBH) is an American sports ownership and management group that operates over 40 Minor League Baseball (MiLB) teams in the United States and Canada. DBH was established in 2021 by media conglomerate Endeavor and is a subsidiary of the investment firm Silver Lake.

Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.

DHIL vs VALN — Head-to-Head

Bigger by revenue
DHIL
DHIL
1.0× larger
DHIL
$36.6M
$36.2M
VALN
Higher net margin
DHIL
DHIL
79.4% more per $
DHIL
25.3%
-54.1%
VALN

Income Statement — Q4 FY2025 vs Q1 FY2023

Metric
DHIL
DHIL
VALN
VALN
Revenue
$36.6M
$36.2M
Net Profit
$9.3M
$-19.6M
Gross Margin
38.9%
Operating Margin
16.9%
-49.5%
Net Margin
25.3%
-54.1%
Revenue YoY
-6.6%
Net Profit YoY
25.3%
EPS (diluted)
$3.42

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.

Revenue
DHIL
DHIL
VALN
VALN
Q4 25
$36.6M
Q3 25
$37.4M
Q2 25
$36.0M
Q1 25
$37.1M
Q4 24
$39.1M
Q3 24
$39.0M
Q2 24
$36.7M
Q1 24
$36.3M
Net Profit
DHIL
DHIL
VALN
VALN
Q4 25
$9.3M
Q3 25
$13.6M
Q2 25
$15.6M
Q1 25
$10.4M
Q4 24
$7.4M
Q3 24
$14.6M
Q2 24
$8.1M
Q1 24
$13.0M
Operating Margin
DHIL
DHIL
VALN
VALN
Q4 25
16.9%
Q3 25
26.0%
Q2 25
21.6%
Q1 25
35.2%
Q4 24
33.8%
Q3 24
26.2%
Q2 24
33.1%
Q1 24
22.9%
Net Margin
DHIL
DHIL
VALN
VALN
Q4 25
25.3%
Q3 25
36.2%
Q2 25
43.2%
Q1 25
27.9%
Q4 24
18.9%
Q3 24
37.5%
Q2 24
22.2%
Q1 24
35.9%
EPS (diluted)
DHIL
DHIL
VALN
VALN
Q4 25
$3.42
Q3 25
$4.99
Q2 25
$5.73
Q1 25
$3.77
Q4 24
$2.76
Q3 24
$5.35
Q2 24
$2.93
Q1 24
$4.62

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DHIL
DHIL
VALN
VALN
Cash + ST InvestmentsLiquidity on hand
$274.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$176.4M
$221.2M
Total Assets
$260.4M
$637.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DHIL
DHIL
VALN
VALN
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$41.6M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
DHIL
DHIL
VALN
VALN
Q4 25
$176.4M
Q3 25
$180.9M
Q2 25
$171.6M
Q1 25
$168.6M
Q4 24
$162.3M
Q3 24
$166.5M
Q2 24
$156.5M
Q1 24
$158.3M
Total Assets
DHIL
DHIL
VALN
VALN
Q4 25
$260.4M
Q3 25
$256.3M
Q2 25
$261.0M
Q1 25
$224.4M
Q4 24
$245.1M
Q3 24
$240.8M
Q2 24
$213.1M
Q1 24
$209.1M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DHIL
DHIL
VALN
VALN
Operating Cash FlowLast quarter
$-6.6M
$-26.3M
Free Cash FlowOCF − Capex
$-9.1M
FCF MarginFCF / Revenue
-24.8%
Capex IntensityCapex / Revenue
6.7%
Cash ConversionOCF / Net Profit
-0.71×
TTM Free Cash FlowTrailing 4 quarters
$-34.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DHIL
DHIL
VALN
VALN
Q4 25
$-6.6M
Q3 25
$-7.7M
Q2 25
$-5.0M
Q1 25
$-10.7M
Q4 24
$16.6M
Q3 24
$18.5M
Q2 24
$19.2M
Q1 24
$-12.3M
Free Cash Flow
DHIL
DHIL
VALN
VALN
Q4 25
$-9.1M
Q3 25
$-8.3M
Q2 25
$-5.7M
Q1 25
$-11.3M
Q4 24
$15.2M
Q3 24
$18.3M
Q2 24
$19.2M
Q1 24
$-12.4M
FCF Margin
DHIL
DHIL
VALN
VALN
Q4 25
-24.8%
Q3 25
-22.2%
Q2 25
-15.8%
Q1 25
-30.4%
Q4 24
38.9%
Q3 24
46.8%
Q2 24
52.4%
Q1 24
-34.2%
Capex Intensity
DHIL
DHIL
VALN
VALN
Q4 25
6.7%
Q3 25
1.6%
Q2 25
2.0%
Q1 25
1.5%
Q4 24
3.5%
Q3 24
0.7%
Q2 24
0.0%
Q1 24
0.4%
Cash Conversion
DHIL
DHIL
VALN
VALN
Q4 25
-0.71×
Q3 25
-0.57×
Q2 25
-0.32×
Q1 25
-1.04×
Q4 24
2.25×
Q3 24
1.26×
Q2 24
2.36×
Q1 24
-0.94×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DHIL
DHIL

Proprietary Funds$26.0M71%
Separately Managed Accounts$5.0M14%
Other Pooled Vehicles$2.8M8%
Administration Revenuenetofrelatedexpense$1.7M5%
Collective Investment Trusts$1.4M4%

VALN
VALN

Segment breakdown not available.

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