valley flashing

[John Stephenson]

..........

[Richard Rushing]

John,

That looks like Schitt... got another view?

Rich

[Rick Cantrell]

John
It's hard to tell from the photo if there is any slope in that valley (doesn't look like it has any though). If it does not have slope then a cricket is needed.
A flat valley is not good, even though it may not be leaking now.
Substantial damage will result if not corrected.
I remodeled a house just a few months ago with a roof similar to that, cost to repair the rot, termites, wall, roof, floor, ect was >$12K.
Every time I have seen that type of roof drainage it's on a house with a room addition. Look for other problems such as in the foundation.