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Side-by-side financial comparison of VALHI INC (VHI) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
VALHI INC is the larger business by last-quarter revenue ($494.5M vs $377.3M, roughly 1.3× Bristow Group Inc.). Bristow Group Inc. runs the higher net margin — 4.9% vs -10.8%, a 15.6% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 2.8%). VALHI INC produced more free cash flow last quarter ($89.8M vs $47.8M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% CAGR vs -3.5%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
VHI vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $494.5M | $377.3M |
| Net Profit | $-53.2M | $18.4M |
| Gross Margin | 6.9% | — |
| Operating Margin | -6.2% | 8.5% |
| Net Margin | -10.8% | 4.9% |
| Revenue YoY | 2.8% | 6.7% |
| Net Profit YoY | -333.3% | -42.1% |
| EPS (diluted) | $-1.86 | $0.61 |
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 | $494.5M | $377.3M | ||
| Q3 25 | $503.5M | $386.3M | ||
| Q2 25 | $540.4M | $376.4M | ||
| Q1 25 | $538.6M | $350.5M | ||
| Q4 24 | $480.9M | $353.5M | ||
| Q3 24 | $533.6M | $365.1M | ||
| Q2 24 | $559.7M | $359.7M | ||
| Q1 24 | $530.6M | $337.1M |
| Q4 25 | $-53.2M | $18.4M | ||
| Q3 25 | $-22.2M | $51.5M | ||
| Q2 25 | $900.0K | $31.7M | ||
| Q1 25 | $16.9M | $27.4M | ||
| Q4 24 | $22.8M | $31.8M | ||
| Q3 24 | $57.5M | $28.2M | ||
| Q2 24 | $19.9M | $28.2M | ||
| Q1 24 | $7.8M | $6.6M |
| 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 24 | 16.3% | — |
| Q4 25 | -6.2% | 8.5% | ||
| Q3 25 | 1.7% | 13.1% | ||
| Q2 25 | 6.6% | 11.3% | ||
| Q1 25 | 9.3% | 9.6% | ||
| Q4 24 | 11.8% | 9.0% | ||
| Q3 24 | 12.7% | 9.1% | ||
| Q2 24 | 9.8% | 12.4% | ||
| Q1 24 | 5.9% | 6.8% |
| Q4 25 | -10.8% | 4.9% | ||
| Q3 25 | -4.4% | 13.3% | ||
| Q2 25 | 0.2% | 8.4% | ||
| Q1 25 | 3.1% | 7.8% | ||
| Q4 24 | 4.7% | 9.0% | ||
| Q3 24 | 10.8% | 7.7% | ||
| Q2 24 | 3.6% | 7.8% | ||
| Q1 24 | 1.5% | 2.0% |
| Q4 25 | $-1.86 | $0.61 | ||
| Q3 25 | $-0.78 | $1.72 | ||
| Q2 25 | $0.03 | $1.07 | ||
| Q1 25 | $0.59 | $0.92 | ||
| Q4 24 | $0.81 | $1.07 | ||
| Q3 24 | $2.01 | $0.95 | ||
| Q2 24 | $0.70 | $0.96 | ||
| Q1 24 | $0.27 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | $590.9M | $671.5M |
| Stockholders' EquityBook value | $1.0B | $1.1B |
| Total Assets | $2.6B | $2.3B |
| Debt / EquityLower = less leverage | 0.58× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $216.9M | $286.2M | ||
| Q3 25 | $186.6M | $245.5M | ||
| Q2 25 | $190.9M | $251.8M | ||
| Q1 25 | $196.4M | $191.1M | ||
| Q4 24 | $350.2M | $247.5M | ||
| Q3 24 | $316.7M | $200.3M | ||
| Q2 24 | $386.9M | $178.6M | ||
| Q1 24 | $372.7M | $140.6M |
| Q4 25 | $590.9M | $671.5M | ||
| Q3 25 | $661.5M | $675.0M | ||
| Q2 25 | $544.8M | $705.2M | ||
| Q1 25 | $525.9M | $701.9M | ||
| Q4 24 | $484.4M | $689.8M | ||
| Q3 24 | $526.6M | $629.1M | ||
| Q2 24 | $497.4M | $594.2M | ||
| Q1 24 | $511.2M | $544.1M |
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.0B | $1.0B | ||
| Q2 25 | $1.1B | $984.4M | ||
| Q1 25 | $1.1B | $931.7M | ||
| Q4 24 | $1.0B | $891.7M | ||
| Q3 24 | $1.0B | $899.2M | ||
| Q2 24 | $962.6M | $849.1M | ||
| Q1 24 | $928.2M | $820.7M |
| Q4 25 | $2.6B | $2.3B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.8B | $2.3B | ||
| Q1 25 | $2.8B | $2.2B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $2.8B | $2.1B | ||
| Q2 24 | $2.5B | $2.0B | ||
| Q1 24 | $2.6B | $1.9B |
| Q4 25 | 0.58× | 0.63× | ||
| Q3 25 | 0.63× | 0.65× | ||
| Q2 25 | 0.51× | 0.72× | ||
| Q1 25 | 0.49× | 0.75× | ||
| Q4 24 | 0.47× | 0.77× | ||
| Q3 24 | 0.52× | 0.70× | ||
| Q2 24 | 0.52× | 0.70× | ||
| Q1 24 | 0.55× | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $89.8M | $47.8M |
| FCF MarginFCF / Revenue | 18.2% | 12.7% |
| Capex IntensityCapex / Revenue | 2.2% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-82.1M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.6M | $76.9M | ||
| Q3 25 | $-1.9M | $23.1M | ||
| Q2 25 | $21.7M | $99.0M | ||
| Q1 25 | $-155.9M | $-603.0K | ||
| Q4 24 | $45.8M | $51.1M | ||
| Q3 24 | $13.5M | $66.0M | ||
| Q2 24 | $33.5M | $33.7M | ||
| Q1 24 | $-48.8M | $26.7M |
| Q4 25 | $89.8M | $47.8M | ||
| Q3 25 | $-12.3M | $-6.2M | ||
| Q2 25 | $9.1M | $67.4M | ||
| Q1 25 | $-168.7M | $-52.7M | ||
| Q4 24 | $33.3M | $-32.4M | ||
| Q3 24 | $3.9M | $9.0M | ||
| Q2 24 | $29.7M | $-16.7M | ||
| Q1 24 | $-53.8M | $-37.9M |
| Q4 25 | 18.2% | 12.7% | ||
| Q3 25 | -2.4% | -1.6% | ||
| Q2 25 | 1.7% | 17.9% | ||
| Q1 25 | -31.3% | -15.0% | ||
| Q4 24 | 6.9% | -9.2% | ||
| Q3 24 | 0.7% | 2.5% | ||
| Q2 24 | 5.3% | -4.6% | ||
| Q1 24 | -10.1% | -11.2% |
| Q4 25 | 2.2% | 7.7% | ||
| Q3 25 | 2.1% | 7.6% | ||
| Q2 25 | 2.3% | 8.4% | ||
| Q1 25 | 2.4% | 14.9% | ||
| Q4 24 | 2.6% | 23.6% | ||
| Q3 24 | 1.8% | 15.6% | ||
| Q2 24 | 0.7% | 14.0% | ||
| Q1 24 | 0.9% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | 24.11× | 3.12× | ||
| Q1 25 | -9.22× | -0.02× | ||
| Q4 24 | 2.01× | 1.61× | ||
| Q3 24 | 0.23× | 2.34× | ||
| Q2 24 | 1.68× | 1.20× | ||
| Q1 24 | -6.26× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VHI
| Chemicals | $418.3M | 85% |
| Real Estate Management And Development | $38.5M | 8% |
| Security Products | $29.5M | 6% |
| Marine Components | $8.2M | 2% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
