Positive context积极背景
Stocks股票 / Materials / VHI
Valhi Inc · Materials
VHI US listed · USD美股 · 美元
Materials
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$14.29
Regular quote常规时段报价
-$0.92 · -6.05%
Extended quote unavailable. Showing the regular quote.盘前盘后报价暂不可用，现显示常规时段报价。
Pre-market盘前
·
52w low52周低 $11.13high高 $19.04
Neutral — no clear edge中性 — 无明显优势
A normal mid-cycle dip below the 10-day average — the real cycle low isn't due for ~12+ trading days. Wait for support to hold, or for the next low to set up.这是跌破 10 日均线的正常周期中段回调——真正的周期低点要到约 12+ 个交易日后才会到来。等待支撑站稳，或等下一个低点构筑成形。
As of 2026-11-05截至 2026-11-05
Company news公司新闻
The latest reporting最新报道
One story, with the reporting behind it.将同一事件汇总，保留各来源报道。
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-11-05
Momentum (RSI 14)动量（RSI 14）
45
Neutral zone中性区域
vs 50-day average相对50日均线
-9.6% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-2.7% below下方
Long trend down长期向下
Volatility波动率
36th percentile第36百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
Financials财务数据
fiscal years财年Revenue营业收入
$2.1B2025
20202025
5-yr growth5年复合增速 2.3%
Earnings per share每股收益
$-2.022025
20202025
Free cash flow自由现金流
-$82.1M2025
20202025
Gross margin毛利率
14.2%
Operating margin营业利润率
3.0%
Net margin净利率
-2.8%
FCF margin自由现金流利润率
-1.7%
Balance-sheet quality财务体质 3/8
Return on equity股本回报率 -6%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA-1.65
Current ratio流动比率2.80
Capital allocation资本配置
Share count change (1y)股数变化（1年）+0.0%
Debt coming due到期债务
FY2012 10-KIn the 12-month bucket following fiscal period end 2012-12-31, it reported $34.2M due — about 3% of its disclosed principal.在财年期末 2012-12-31 之后12个月的区间内，已披露到期本金为 $34.2M，约占其披露本金的 3%。
All maturity buckets are measured from fiscal period end 2012-12-31, not from today.所有到期区间均从财年期末 2012-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$34.2M
Year 2第2年
$205.7M
Year 3第3年
$28.2M
Year 4第4年
$28.5M
Year 5第5年
$39.7M
After year 55年以后
$648.6M
Cash reported at 2025-12-31: $214000000.截至 2025-12-31 披露的现金：$214000000。 At the cash-burn pace reported over 2025-01-01 to 2025-12-31, that cash represented about 31.3 months. This scenario excludes debt payments and future financing.按 2025-01-01 至 2025-12-31 期间披露的现金消耗速度，该现金约对应 31.3 个月。此情景不包括债务偿还与未来融资。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001193125-13-110265, period ending报告期截至 2012-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-10-05T09:39:41.309405+00:00.
6/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001104659-26-025847 · Filed提交日期 2026-03-10.
Cache acquired缓存获取时间: 2026-10-05T09:39:41.309405+00:00 · Evaluated as of评估截至 2026-11-07.
- Reported operating cash flow已披露经营活动现金流: $-35500000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $46600000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $-82100000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Positioning持仓
Quiet — no confirmed driver平静 — 无明确驱动
Technical技术面
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
Signal history信号历史
engine events引擎事件
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY. Mixed structure准备。结构混合
Nov 6, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Nov 5, 2026
VHI lost its 200-day averageVHI 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $14.29.收盘跌破200日均线 — 经典的空头分界线。$14.29。
Nov 4, 2026
VHI reclaimed its 200-day averageVHI 收复200日均线
Price closed back above the 200-day moving average — the classic bull dividing line. $15.21.收盘重回200日均线 — 经典的多头分界线。$15.21。
Nov 3, 2026
VHI lost its 200-day averageVHI 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $14.61.收盘跌破200日均线 — 经典的空头分界线。$14.61。
Nov 2, 2026
VHI reclaimed its 200-day averageVHI 收复200日均线
Price closed back above the 200-day moving average — the classic bull dividing line. $14.80.收盘重回200日均线 — 经典的多头分界线。$14.80。
Oct 28, 2026
VHI broke down vs the marketVHI 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $14.00.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$14.00。
Oct 22, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Oct 22, 2026
VHI daily MACD crossed upVHI 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $14.33.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$14.33。
Showing the last 15 of显示最近15条，共 165 signals条信号
Company profile公司档案
Watch items — what could change the story关注项 — 可能改变故事的因素
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | +2.1% | -4.7% |
| 1 Month近1月 | -5.5% | -5.9% |
| 3 Months近3月 | -9.7% | -5.0% |
| 6 Months近6月 | -0.8% | -0.1% |
| Year to date年初至今 | +18.9% | +8.1% |
| 1 Year近1年 | +5.8% | +9.3% |
Trading information交易信息
Volatility rank波动率分位
36th pctile
EPS (trailing)每股收益
$-1.95
Off 52-week high距52周高点
-23.4%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $1.8B | $2.3B | $2.2B | $1.9B | $2.1B | $2.1B |
| EPS每股收益 | $1.94 | $4.46 | $3.16 | $-0.42 | $3.79 | $-2.02 |
| Free cash flow自由现金流 | $87M | $396M | $-33M | $-45M | $13M | $-82M |
| Gross margin毛利率 | 22.3% | 25.3% | 22.1% | 12.8% | 20.2% | 14.2% |
| Net margin净利率 | 3.0% | 5.5% | 4.1% | -0.6% | 5.1% | -2.8% |
| FCF margin自由现金流利润率 | 4.7% | 17.2% | -1.5% | -2.3% | 0.6% | -4.0% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$2.1B
Gross profit毛利润
$295M
Net income净利润
$-58M
Operating cash flow经营现金流
$-36M
Total assets总资产
$2.6B
Shareholder equity股东权益
$1.0B
Dividends paid股息支出
$9M
Shares outstanding总股本
0.03B
Returns & growth回报与增长
Return on equity股本回报率
-5.6%
Return on assets资产回报率
-2.2%
Profit growth利润增速
-153.3%
Asset growth资产增速
-6.0%
Accounting quality checks会计质量检查
- Earnings quality: accruals near the peer median盈利质量：应计利润接近同业中位
- Working capital: working capital roughly in line with sales营运资本：营运资本与销售大致同步
- Pricing power: gross margin −8.1pts over 6 years定价能力：毛利率 6 年下降 8.1 个百分点
- Capital discipline: investment near the peer median资本纪律：投资力度接近同业中位
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
45
RSI (2-day)RSI（2日）
29
vs 20-day average相对20日均线
-0.5%
vs 50-day average相对50日均线
-9.6%
vs 200-day average相对200日均线
-2.7%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
above signal位于信号线上方
Timeframe alignment多周期共振
Daily日线
momentum up动能向上
3-day3日线
momentum down动能向下
Weekly周线
momentum down动能向下
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
CoiledCOILED
Days compressed已压缩天数
6
Range width percentile波幅宽度分位
8/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。