A Business at a Glance
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VALVOLINE INC
VVV
$5.0B
Mkt Cap
$38.96
+1.70%
VALVOLINE INC (VVV) has a current P/E ratio of 58.1, compared to its historical median P/E of 14.1. The stock is currently considered Expensive based on its historical valuation range.
VALVOLINE INC (VVV) has a 5-year average return on invested capital (ROIC) of 29.0%. This indicates strong capital allocation and a potential competitive advantage.
VALVOLINE INC (VVV) has a market capitalization of $5.0B. It is classified as a mid-cap stock.
VALVOLINE INC (VVV) does not currently pay a regular dividend.
Based on historical P/E analysis, VALVOLINE INC (VVV) appears expensive. The current P/E of 58.1 is 313% above its historical median of 14.1. The estimated fair value CAGR (P/E method) is 14.2%.
VALVOLINE INC (VVV) operates in the Miscellaneous Products Of Petroleum & Coal industry, within the Energy sector.
VALVOLINE INC (VVV) reported annual revenue of $1.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Valvoline Inc. is a leader in automotive preventive maintenance operating and franchising approximately 2,200 service center locations across the United States and Canada through its Valvoline Instant Oil Change (VIOC) and Valvoline Great Canadian Oil Change (GCOC) brands, with additional support for over 240 Express Care locations. The company's core business model centers on quick, convenient 15-minute stay-in-your-car oil changes performed by certified technicians, complemented by battery, bulb, wiper, and tire services, along with other manufacturer-recommended maintenance delivered through a proprietary SuperPro system that ensures consistent customer experience across company-operated and franchised locations. Valvoline generates revenue through both company-operated store sales and franchise fees and royalties, with a customer base spanning individual consumers and commercial fleet operators, benefiting from the growing age of vehicles in operation and increasing vehicle complexity. The company's competitive advantages include its established brand heritage dating to 1866, high customer satisfaction ratings, real estate analytics capabilities for site selection, and a proven playbook for new store development with consistent mid-to-high-teens return on invested capital. The business is geographically concentrated in North America, with exposure to the resilient automotive aftermarket services industry driven by ongoing vehicle maintenance demand and miles driven.
【Strong momentum with cost headwinds】 Management expects continued resilience in customer demand and same-store sales growth driven by both ticket and transaction contributions, with fleet operations growing at a rapid rate despite representing less than 10% of system-wide sales. The company anticipates near-term margin pressure from increased lubricant costs tied to geopolitical factors, which it is offsetting through measured pricing actions expected to cover cost increases on a dollar-for-dollar basis, with gross margin expected to improve in the second half of the year due to seasonal volume increases. Integration of the Breeze Autocare acquisition is progressing ahead of initial expectations with early delivery of synergies in payroll and procurement, though the 162 immature stores are expected to create approximately 100 basis points of negative EBITDA margin impact that will improve as stores mature and the company applies its operational playbook. The company remains focused on returning to its target leverage ratio within 18 to 24 months through EBITDA growth and debt reduction, with plans to resume share repurchases once leverage targets are achieved, while continuing to invest in network growth and technology infrastructure to support long-term value creation.
| Metric | Target | Period |
|---|---|---|
| System-wide same-store sales growth | 4%-6% | FY2026 |
| Network growth (new stores) | 330-360 new stores | FY2026 |
| Capital expenditures | $250-$280 million | FY2026 |
| Adjusted EPS | $1.60-$1.70 per share | FY2026 |
System-wide same-store sales growth (FY2026): “We expect system-wide same-store sales growth of 4%-6%”
Network growth (new stores) (FY2026): “overall network growth of 330-360 new stores”
Capital expenditures (FY2026): “we expect fiscal 2026 CapEx of $250-$280 million”
Adjusted EPS (FY2026): “We expect adjusted EPS of $1.60-$1.70 per share”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.7B | 1.6B | 1.4B | 1.2B | 1.0B |
| Net Income | 94M | 211M | 212M | 1.4B | 424M | 420M |
| EPS | $0.73 | $1.64 | $1.61 | $8.73 | $2.35 | $2.29 |
| Free Cash Flow | 100M | 38M | 41M | -221M | 152M | 301M |
| ROIC | 8.3% | 22.5% | 21.6% | 78.9% | 9.2% | 12.7% |
| Gross Margin | 38.5% | 38.5% | 38.2% | 37.7% | 38.5% | 41.7% |
| Debt/Equity | 4.69 | 3.17 | 5.89 | 7.81 | 5.50 | 12.30 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.13 | $0.50 | $0.50 |
| Operating Income | 284M | 390M | 367M | 247M | 220M | 240M |
| Operating Margin | 15.3% | 22.8% | 22.7% | 17.1% | 17.8% | 23.1% |
| ROE | 26.5% | 80.4% | 108.8% | 698.7% | 192.4% | 312.5% |
| Shares Outstanding | 128M | 128M | 131M | 163M | 181M | 184M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 2.0B | 1.9B | 2.1B | 2.3B | 2.4B | 727M | 1.0B | 1.2B | 1.4B | 1.6B | 1.7B | 1.9B |
| Gross Margin | 34.8% | 38.8% | 37.2% | 35.3% | 33.9% | 41.4% | 41.7% | 38.5% | 37.7% | 38.2% | 38.5% | 38.5% |
| R&D | 11M | 13M | 13M | 14M | 13M | 13M | 15M | N/A | N/A | N/A | N/A | N/A |
| SG&A | 348M | 365M | 396M | 430M | 449M | 177M | 224M | 245M | 265M | 305M | 350M | 386M |
| EBIT | 323M | 396M | 394M | 395M | 398M | 160M | 240M | 220M | 247M | 367M | 390M | 284M |
| Op. Margin | 16.4% | 20.5% | 18.9% | 17.3% | 16.7% | 22.0% | 23.1% | 17.8% | 17.1% | 22.7% | 22.8% | 15.3% |
| Net Income | 196M | 273M | 304M | 166M | 208M | 317M | 420M | 424M | 1.4B | 212M | 211M | 94M |
| Net Margin | 10.0% | 14.2% | 14.6% | 7.3% | 8.7% | 43.5% | 40.5% | 34.3% | 98.4% | 13.1% | 12.3% | 5.0% |
| Non-Recurring | 0 | 0 | 2.0M | 0 | 0 | 0 | 0 | 0 | 0 | 42M | 71M | 71M |
| Returns on Capital | ||||||||||||
| ROIC | 31.8% | 59.9% | 41.1% | 28.6% | 35.4% | 8.9% | 12.7% | 9.2% | 78.9% | 21.6% | 22.5% | 8.3% |
| ROE | 29.2% | 190.2% | -136.0% | -69.9% | -67.6% | -189.7% | 312.5% | 192.4% | 698.7% | 108.8% | 80.4% | 26.5% |
| ROA | N/A | 15.0% | 16.3% | 8.8% | 10.6% | 12.4% | 13.5% | 12.8% | 45.0% | 7.9% | 8.2% | 2.7% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 330M | 311M | -130M | 320M | 325M | 372M | 404M | 284M | -41M | 265M | 297M | 369M |
| Free Cash Flow | 285M | 245M | -198M | 227M | 217M | 278M | 301M | 152M | -221M | 41M | 38M | 100M |
| Owner Earnings | 292M | 273M | -181M | 253M | 255M | 328M | 327M | 198M | -142M | 147M | 167M | 238M |
| CapEx | 45M | 66M | 68M | 93M | 108M | 94M | 103M | 132M | 181M | 224M | 259M | 269M |
| Maint. CapEx | 38M | 38M | 42M | 55M | 61M | 31M | 63M | 71M | 89M | 106M | 119M | 119M |
| Growth CapEx | 7.0M | 28M | 26M | 38M | 47M | 63M | 40M | 61M | 92M | 119M | 140M | 150M |
| D&A | 38M | 38M | 42M | 55M | 61M | 31M | 63M | 71M | 89M | 106M | 119M | 119M |
| CapEx/OCF | N/A | 21.2% | N/A | 29.1% | 33.2% | 25.3% | 25.5% | 46.4% | N/A | 84.6% | 87.2% | 72.9% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 40M | 58M | 80M | 84M | 91M | 89M | 22M | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | 1.0% | 1.4% | 2.3% | 2.4% | 1.9% | 1.6% | 0.4% | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 50M | 325M | 0 | 60M | 127M | 143M | 1.5B | 227M | 77M | 0 |
| Buyback Yield | N/A | N/A | 1.1% | 8.3% | N/A | 1.7% | 2.2% | 3.0% | 29.2% | 4.1% | 1.6% | 0.0% |
| Stock-Based Comp | 0 | 0 | 9.0M | 12M | 9.0M | 12M | 14M | 14M | 12M | 12M | 11M | 12M |
| Debt Repayment | 0 | 637M | 90M | 108M | 734M | 926M | 800M | 38M | 921M | 699M | 104M | 104M |
| Balance Sheet | ||||||||||||
| Net Debt | 0 | 571M | 923M | 1.2B | 1.2B | 1.3B | 1.5B | 1.7B | 830M | 1.0B | 1.0B | 1.6B |
| Cash & Equiv. | 0 | 172M | 201M | 96M | 159M | 640M | 123M | 23M | 409M | 68M | 52M | 89M |
| Long-Term Debt | 0 | 724M | 1.0B | 1.3B | 1.3B | 2.0B | 1.6B | 1.5B | 1.6B | 1.1B | 1.1B | 1.6B |
| Debt/Equity | 0.00 | -2.25 | -9.61 | -3.69 | -5.21 | -25.82 | 12.30 | 5.50 | 7.81 | 5.89 | 3.17 | 4.69 |
| Interest Coverage | N/A | 44.0 | 9.4 | 6.3 | 5.5 | 1.7 | 2.2 | 3.2 | 6.5 | 5.1 | 5.3 | 5.3 |
| Equity | 617M | -330M | -117M | -358M | -258M | -76M | 135M | 307M | 203M | 186M | 339M | 353M |
| Total Assets | N/A | 1.8B | 1.9B | 1.9B | 2.1B | 3.1B | 3.2B | 3.4B | 2.9B | 2.4B | 2.7B | 3.4B |
| Total Liabilities | 2.0M | 2.2B | 2.0B | 2.2B | 2.3B | 3.1B | 3.1B | 3.1B | 2.7B | 2.3B | 2.3B | -18M |
| Intangibles | N/A | 3.0M | 5.0M | 67M | 74M | 84M | 130M | 115M | 103M | 90M | 83M | 98M |
| Retained Earnings | N/A | 0 | -167M | -399M | -284M | -110M | 90M | 282M | 141M | 123M | 274M | 286M |
| Working Capital | N/A | 330M | 312M | 314M | 374M | 994M | 468M | 702M | 574M | -99M | -104M | -99M |
| Current Assets | N/A | 730M | 790M | 725M | 797M | 1.4B | 1.0B | 1.6B | 937M | 255M | 244M | 272M |
| Current Liabilities | N/A | 400M | 478M | 411M | 423M | 444M | 569M | 919M | 362M | 354M | 347M | 371M |
| Per Share Data | ||||||||||||
| EPS | 1.15 | 1.60 | 1.49 | 0.84 | 1.10 | 1.69 | 2.29 | 2.35 | 8.73 | 1.61 | 1.64 | 0.73 |
| Owner EPS | 1.71 | 1.60 | -0.89 | 1.28 | 1.35 | 1.75 | 1.78 | 1.10 | -0.87 | 1.12 | 1.30 | 1.87 |
| Book Value | 3.62 | -1.93 | -0.57 | -1.81 | -1.36 | -0.41 | 0.73 | 1.70 | 1.25 | 1.41 | 2.63 | 2.77 |
| Cash Flow/Share | 1.94 | 1.82 | -0.64 | 1.62 | 1.72 | 1.98 | 2.20 | 1.57 | -0.25 | 2.02 | 2.31 | 1.67 |
| Dividends/Share | 0.00 | 0.00 | 0.20 | 0.30 | 0.42 | 0.45 | 0.50 | 0.50 | 0.13 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 170.4M | 170.6M | 204.0M | 197.6M | 189.1M | 187.3M | 183.5M | 180.6M | 162.6M | 131.4M | 128.5M | 127.5M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | 13.4 | 14.4 | 23.6 | 18.7 | 11.0 | 13.8 | 11.1 | 3.7 | 26.0 | 22.4 | 53.0 |
| P/FCF | N/A | 15.0 | N/A | 17.3 | 18.0 | 12.6 | 19.2 | 31.1 | N/A | 135.1 | 124.0 | 49.7 |
| EV/EBIT | N/A | N/A | 13.5 | 13.0 | 12.8 | 29.3 | 30.0 | 29.7 | 24.6 | 17.6 | 14.6 | 23.1 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | 43.0 | 15.4 | 25.7 | 29.6 | 13.9 | 14.1 |
| Price/Sales | N/A | 1.9 | 2.0 | 1.8 | 1.5 | 4.8 | 4.7 | 4.6 | 3.8 | 3.2 | 2.8 | 2.7 |
| FCF Yield | N/A | 6.7% | -4.5% | 5.8% | 5.6% | 8.0% | 5.2% | 3.2% | -4.2% | 0.7% | 0.8% | 2.0% |
| Market Cap | N/A | 3.7B | 4.4B | 3.9B | 3.9B | 3.5B | 5.8B | 4.7B | 5.2B | 5.5B | 4.7B | 5.0B |
| Avg. Price | N/A | 21.28 | 20.30 | 20.77 | 18.57 | 18.77 | 26.45 | 31.49 | 34.09 | 39.47 | 37.44 | 38.96 |
| Year-End Price | N/A | 21.51 | 21.46 | 19.84 | 20.61 | 18.64 | 31.51 | 26.18 | 32.08 | 41.85 | 36.67 | 38.96 |
VALVOLINE INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
VALVOLINE INC trades at 58.1x trailing earnings, compared to its 15-year median P/E of 14.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 85.8x vs a median of 17.6x. The company's 5-year average ROIC is 29.0% with a gross margin of 38.9%. At current prices, the estimated annualized return to fair value is -25.0%.
VALVOLINE INC (VVV) has a net profit margin of 12.3%. This is a healthy margin.
VALVOLINE INC (VVV) generated $38 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
VALVOLINE INC (VVV) has a debt-to-equity ratio of 3.17. This indicates higher leverage, which may increase financial risk.
VALVOLINE INC (VVV) reported earnings per share (EPS) of $1.64 in its most recent fiscal year.
VALVOLINE INC (VVV) has a return on equity (ROE) of 80.4%. This indicates the company generates strong returns for shareholders.
VALVOLINE INC (VVV) has a 5-year average gross margin of 38.9%. This indicates decent pricing power.
The Ledger Terminal provides 11 years of financial data for VALVOLINE INC (VVV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VALVOLINE INC (VVV) has a book value per share of $2.63, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued resilience in customer demand and same-store sales growth driven by both ticket and transaction contributions, with fleet operations growing at a rapid rate despite representing less than 10% of system-wide sales. The company anticipates near-term margin pressure from increased lubricant costs tied to geopolitical factors, which it is offsetting through measured pricing actions expected to cover cost increases on a dollar-for-dollar basis, with gross margin expected to improve in the second half of the year due to seasonal volume increases. Integration of the Breeze Autocare acquisition is progressing ahead of initial expectations with early delivery of synergies in payroll and procurement, though the 162 immature stores are expected to create approximately 100 basis points of negative EBITDA margin impact that will improve as stores mature and the company applies its operational playbook. The company remains focused on returning to its target leverage ratio within 18 to 24 months through EBITDA growth and debt reduction, with plans to resume share repurchases once leverage targets are achieved, while continuing to invest in network growth and technology infrastructure to support long-term value creation.
Based on recent SEC filings and earnings calls, VALVOLINE INC (VVV) has provided the following forward guidance: System-wide same-store sales growth: 4%-6% (FY2026); Network growth (new stores): 330-360 new stores (FY2026); Capital expenditures: $250-$280 million (FY2026); Adjusted EPS: $1.60-$1.70 per share (FY2026).