VMI: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	4.10bn	4.08bn
Cost of revenue	2.86bn	2.83bn
Gross profit	1.24bn	1.24bn
Selling, general and administrative	718m	717m
Operating income	416m	525m
Pre-tax income	378m	469m
Income tax	24m	118m
Net income	350m	348m
Earnings per share	16.91	17.31
Earnings per share, diluted	16.79	17.19

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	160m	187m	226m	209m	184m	164m	200m	163m
Receivables	653m	590m	615m	666m	667m	654m	714m	703m
Inventory	588m	566m	591m	581m	579m	590m	611m	633m
Current assets	1.77bn	1.72bn	1.76bn	1.74bn	1.72bn	1.68bn	1.81bn	1.78bn
Property, plant and equipment	686m	674m	643m	622m	604m	589m	609m	604m
Goodwill	587m	571m	570m	572m	628m	624m	0	630m
Total assets	3.44bn	3.37bn	3.37bn	3.35bn	3.38bn	3.33bn	3.50bn	3.46bn
Current liabilities	746m	732m	779m	810m	761m	811m	770m	705m
Short-term debt	—	513,000	571,000	623,000	669,000	692,000	531,000	569,000
Long-term debt	790m	795m	730m	730m	730m	730m	898m	1.02bn
Total liabilities	1.75bn	1.73bn	1.70bn	1.73bn	1.68bn	1.74bn	1.91bn	1.94bn
Equity	1.68bn	1.63bn	1.60bn	1.53bn	1.64bn	1.54bn	1.54bn	1.47bn
Shares outstanding	—	28m	28m	—	28m	28m	28m	28m
Shares issued	28m	28m	28m	—	28m	28m	28m	28m
Treasury shares	—	—	—	—	—	8m	—	—

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	456m	573m
Depreciation and amortisation	89m	95m
Share-based compensation	24m	30m
Capital expenditure	145m	79m
Investing cash flow	−143m	−79m
Dividends paid	52m	48m
Share buybacks	198m	70m
Financing cash flow	−299m	−523m