VALVOLINE INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.71B | $1.62B | $1.44B | $1.24B | $1.04B | $727.0M | $2.39B | $2.29B |
| Cost of Revenue | $1.05B | $1.00B | $899.0M | $759.7M | $604.9M | $426.0M | $1.58B | $1.48B |
| Gross Profit | $658.5M | $618.8M | $544.5M | $476.4M | $432.3M | $301.0M | $810.0M | $806.0M |
| Gross Margin | 38.5% | 38.2% | 37.7% | 38.5% | 41.7% | 41.4% | 33.9% | 35.3% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | $15.0M | $13.0M | $13.0M | $14.0M |
| SG&A Expense | $349.9M | $305.1M | $264.5M | $244.7M | $223.9M | $177.2M | $449.0M | $430.0M |
| Operating Income | $389.9M | $367.2M | $247.2M | $220.3M | $240.1M | $160.2M | $398.0M | $395.0M |
| Operating Margin | 22.8% | 22.7% | 17.1% | 17.8% | 23.1% | 22.0% | 16.7% | 17.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $292.3M | $283.6M | $236.5M | $144.1M | $260.0M | $123.0M | $265.0M | $332.0M |
| Income Tax Expense | $77.5M | $69.1M | $37.1M | $34.7M | $59.9M | $53.4M | $57.0M | $166.0M |
| Net Income | $210.7M | $211.5M | $1.42B | $424.3M | $420.3M | $316.6M | $208.0M | $166.0M |
| Net Margin | 12.3% | 13.1% | 98.4% | 34.3% | 40.5% | 43.5% | 8.7% | 7.3% |
| EPS (Basic) | $1.65 | $1.63 | $8.79 | $2.37 | $2.30 | $1.70 | $1.10 | $0.84 |
| EPS (Diluted) | $1.64 | $1.61 | $8.73 | $2.35 | $2.29 | $1.69 | $1.10 | $0.84 |
| Shares Outstanding (Basic) | 127.9M | 130.1M | 161.6M | 179.1M | 182.5M | 187.0M | 189.0M | 197.0M |
| Shares Outstanding (Diluted) | 128.6M | 131.0M | 162.6M | 180.4M | 183.5M | 187.5M | 189.0M | 197.0M |
| Dividends Per Share | — | — | $0.13 | $0.50 | $0.50 | $0.45 | $0.42 | $0.30 |