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Valvoline (VVV) USD

Valvoline Inc. operates automotive preventive maintenance service centers, offering oil changes and other routine vehicle services in the United States and Canada.

At a glance: strengths & risks
✓Revenue growing (+24% y/y, Q3 2026)✓Profit growing (+14% y/y, Q3 2026)✗High leverage (3.2x EBITDA)

Sector: Oil refining

Geography: United States

COMM_VVV

Price chart

31.63 USDDay -2.50%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
31.63 USD · -2.50%
Market cap
4.0 bn USD

Growth

Δ revenue y/y
24.1%
Δ EBITDA y/y
30.0%

Multiples

P/E (LTM)
39.6x
3y avg: 16.6x
P/B (FY)
11.9x
P/E (ann.)
15.6x
EV/EBITDA (LTM)
14.1x
3y avg: 14.6x
EV/EBITDA (ann.)
9.1x

Cash return

Dividend yield
—
FCF yield (LTM)
-12.0%

Value creation

negative target market cap — net debt exceeds target EV (over-levered)
Upside (potential)
-113.6%
↓ details

Liquidity

Daily turnover (listing)
86.9 mln USD

Shares: yahoo_fundamentals_timeseries/VVV

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK544.6
y/y 24.1%
112.2
y/y 18.5%
50.2
y/y 66.2%
162.4
y/y 30.0%
64.5
y/y 14.2%
124.4-57.13481.6
y/y 35.9%
416.7
y/y 32.9%
22.3%1895.1Yahoo Finance
2026-03-31Q1 2026 (3M)OK503.8
y/y 25.0%
86.0
y/y 28.6%
4.2
y/y -85.2%
90.2
y/y -5.4%
44.8
y/y 19.1%
95.4-57.83421.1
y/y 39.5%
353.1
y/y 42.0%
54.2%1944.0Link
2025-12-31Q4 2025 (3M)OK461.8
y/y 11.5%
18.3
y/y -87.3%
3.4
y/y —
21.7
y/y -84.9%
-32.8
y/y -135.8%
64.8-57.43402.1
y/y 44.8%
307.6
y/y 33.9%
-40.6%1970.9Link
2025-09-30Q3 2025 (3M)OK453.8
y/y 4.2%
84.5
y/y -37.2%
60.8
y/y -25.2%
145.3
y/y -32.7%
25.0
y/y -72.9%
121.9-98.92670.4
y/y 9.5%
338.5
y/y 82.4%
64.6%1615.8Link
2025-06-30Q2 2025 (3M)OK439.0
y/y 4.2%
94.7
y/y 1.4%
30.2
y/y —
124.9
y/y 33.7%
56.5
y/y 23.1%
86.9-54.92561.6
y/y 7.8%
313.6
y/y 194.5%
26.8%1326.9Link
2025-03-31Q1 2025 (3M)OK403.2
y/y 3.7%
66.9
y/y -12.4%
28.4
y/y —
95.3
y/y 24.7%
37.6
y/y -9.2%
47.2-51.82452.6
y/y -11.2%
248.7
y/y 313.8%
62.9%1309.0Link
2024-12-31Q4 2024 (3M)OK414.3
y/y 11.0%
143.8
y/y 129.0%
0.0
y/y -100.0%
143.8
y/y 64.5%
91.6
y/y 187.1%
41.2-53.62349.8
y/y -13.3%
229.8
y/y 254.6%
176.4%1246.2Link
2024-09-30Q3 2024 (3M)OK435.5
y/y —
134.6
y/y —
81.3
y/y —
215.9
y/y —
92.3
y/y —
101.3-71.42438.7
y/y -15.6%
185.6
y/y -8.7%
144.8%1557.1Link
2024-06-30Q2 2024 (3M)OK421.4
y/y 12.0%
93.4
y/y 8.0%
0.0
y/y —
93.4
y/y 8.0%
45.9
y/y -25.5%
75.6-65.82375.6
y/y -20.4%
106.5
y/y -62.7%
73.5%1357.2Link
2024-03-31Q1 2024 (3M)OK388.7
y/y 12.8%
76.4
y/y 24.8%
0.0
y/y —
76.4
y/y 24.8%
41.4
y/y -96.6%
68.3-44.92763.0
y/y -35.4%
60.1
y/y -95.6%
265.2%1352.7Link
2023-12-31Q4 2023 (3M)OK373.4
y/y —
62.8
y/y —
24.6
y/y —
87.4
y/y —
31.9
y/y —
19.9-42.32709.3
y/y —
64.8
y/y —
95.2%1294.8Link
2023-09-30FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——2889.9
y/y —
203.2
y/y —
581.1%1317.2Link
2023-06-30Q2 2023 (3M)OK376.2
y/y —
86.5
y/y —
0.0
y/y —
86.5
y/y —
61.6
y/y —
-158.5-46.52985.5
y/y —
285.4
y/y —
9.9%889.5Link
2023-03-31Q1 2023 (3M)OK344.5
y/y —
61.2
y/y —
0.0
y/y —
61.2
y/y —
1227.3
y/y —
118.8-39.54280.4
y/y —
1372.4
y/y —
—-495.3Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)31
Long-term debt (incl. LT leases)1 948
− Cash & equivalents84
Net debt1 895

Net debt / LTM EBITDA: 4.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%-50%0%50%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-600-400-20002002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

05001 0001 5002 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is broadly cash-backed
In a typical year of 2021–2025 operating cash flow came to 0.96x of reported net profit; after capex, 0.19x.
year20212022202320242025
cash flow / profit0.96x0.67x-0.03x1.25x1.41x
accruals, % of assets0.5%4.1%50.5%-2.2%-3.2%
Last twelve months (to 2026-06-30): 4.00x of profit came back as operating cash flow.
net debt / EBITDA 3.2x · capex 2.2x of depreciation · dividends 75% of free cash flow · share count -8.5% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Key-commodity price — WTI (input cost)

Current 103spot vs LTM +0%

Commodity-player potential

Target equity value is NEGATIVE: net debt exceeds target EV — over-levered at conservative EBITDA, so the upside is negative.

Upside: -113.6%

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
WTI (input cost) (cost)-40%103.4471.9676.71+44%+7%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue1 964
LTM EBITDA420
LTM cash costs (revenue − EBITDA)1 544
2 · Revenue projection
Revenue multiplier — spot×1.000 (+0%)
= Spot revenue1 964
Revenue multiplier — 3y price×1.000 (+0%)
= 3-year-price revenue1 964
3 · Costs projection
Cost multiplier — spot×1.199 (+20%)
= Spot cash costs1 852
Cost multiplier — 3y price×1.050 (+5%)
= 3-year-price cash costs1 622
4 · EBITDA projection (revenue − costs)
= Spot EBITDA112
= 3-year-price EBITDA342
Conservative EBITDA = min(spot, avg)112
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)12.0x
Target EV = EV/EBITDA × conservative EBITDA1 348
Net debt1 895
Target market cap = EV − net debt-547
Current market cap4 036

Upside = target market cap ÷ current − 1 = -113.6%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q1373361+3.5%8780+9.6%
2024 Q2389371+4.8%7685-10.4%
2024 Q3421382+10.3%9384+11.7%
2024 Q4436393+10.7%21696+125.1%
2024 Q1414405+2.4%144125+14.9%
2025 Q2403415-2.8%95134-29.1%
2025 Q3439419+4.9%125148-15.8%
2025 Q4454423+7.3%145150-2.8%
2025 Q1462428+8.0%22138-84.3%
2026 Q2504439+14.6%9076+18.1%
2026 Q3545465+17.2%16227+499.3%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +6% vs +12% the year before — a -6.5 pp move. 3-year CAGR +11%.
revenue growth by year: 2023 +17% · 2024 +12% · 2025 +6%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 54.7x · target 75th pct (3y) 23.1x · LTM avg 17.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Oil refining. Each peer is shown as it trades and re-priced onto this company's market (global) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Par Pacificglobal3.93.7x3.7x
PBF Energyglobal8.83.9x3.9x
REX American Resourcesglobal1.35.3x5.3x
Valero Energyglobal129.66.7x6.7x
S-OilKorea11.66.3x6.9x
Delek USglobal4.57.0x7.0x
Sunoco LPglobal10.18.2x8.2x
CVR Energyglobal5.88.4x8.4x
CrossAmerica Partnersglobal0.88.9x8.9x
Marathon Petroleumglobal139.99.5x9.5x
Phillips 66global113.617.5x17.5x
Calumetglobal4.330.2x30.2x
Group median7.6x7.6x
Group average9.6x9.7x
This companyglobal4.014.1x14.1x

Group median 7.6x as traded, 7.6x adjusted; this company 14.1x — a 85% premium.

Group average 9.6x as traded, 9.7x adjusted; against the average this company is at a 45% premium. The average sits 27% above the median: Calumet (30.2x) skews the group.

At the adjusted group median the market cap would be -64% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 18.6x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-24; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2022-12-010.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-08-300.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-05-270.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-02-250.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2021-11-260.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Valvoline (VVV) — from primary filings.

Frequently asked questions

What is Valvoline (VVV)'s P/E ratio?
Valvoline (VVV) trades at a P/E of 39.6x (price to trailing 12-month earnings).
What is Valvoline (VVV)'s EV/EBITDA?
Valvoline (VVV) trades at 14.1x EV/EBITDA.
What is Valvoline (VVV)'s P/B ratio?
Valvoline (VVV) trades at a P/B of 11.9x.
What is Valvoline (VVV)'s return on equity (ROE)?
Valvoline (VVV)'s ROE is 22.3%.
What is Valvoline (VVV)'s market capitalization?
Valvoline (VVV)'s market cap is 4.0 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map