Abstract: The present invention relates to a two stage variable flow valve assembly for use in fluid handling. The valve assembly includes a body with a flow restrictor disposed therein to define two internal chambers which are closed at one end by a wall and open at the opposite end by a discharge opening. A valve having a bulb and a profiled valve stem extends axially through and is movable within the internal chambers to open and close the valve assembly for flow therethrough. Flow is halted through the valve assembly when a portion of the profiled valve stem enters the flow restrictor, prior to the bulb's closing of the discharge opening.