Energy · Oil Refining/Marketing

Valero Energy Corporation

NYSEVLO ISINUS91913Y1001 SEC CIK0001035002 Listed on NYSE · USD

$370.63 +6.92 (+1.90%) Pre-market $366.00 (+0.63%) ≈ ₹34,784 a share

Open chart

Price, last 12 months+107.10% in a year

Key numbers

Market value: $103.36B
P/E (TTM): 8.3
Forward P/E: 5.5
EPS (TTM): $44.46
Dividend yield: 1.30%
Beta: 0.56
Day range: $361.91 – $374.99
52-week range: $159.90 – $461.52
Volume: 615,687
10-day avg volume: $3.65M
Revenue (TTM): $153.33B
EBITDA (TTM): $20.43B
Gross margin: 12.3%
Net margin: 8.8%
Return on equity: 49.9%
Debt / equity: 39.3%
Price / sales: 0.67
Shares out: 278.88M

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Quarterly results

Results for each quarter

Last 12 quarters from 10-Q and 10-K filings with the US SEC. Q4 = full year minus the first three quarters. Hover a bar to see the number.

Revenue and net income

$35.41B$1.55B$1.20B

Dec 23

$31.76B$1.68B$1.25B

Mar 24

$34.49B$1.22B$880.00M

Jun 24

$32.88B$507.00M$364.00M

Sep 24

$30.76B$348.00M$281.00M

Dec 24

$30.26B$-900.00M$-595.00M

Mar 25

$29.89B$997.00M$714.00M

Jun 25

$32.17B$1.51B$1.10B

Sep 25

$30.37B$1.58B$1.13B

Dec 25

$32.38B$1.73B$1.26B

Mar 26

$44.48B$5.20B$3.72B

Jun 26

$46.10B$9.07B$6.83B

Sep 26

Revenue · QoQ (vs last quarter)

—-10%+8.6%-4.7%-6.4%-1.6%-1.2%+7.6%-5.6%+6.6%+37%+3.6%

Revenue · YoY (vs a year ago)

————-13%-4.7%-13%-2.2%-1.2%+7.0%+49%+43%

Net income · QoQ (vs last quarter)

—+3.6%-29%-59%-23%-312%+220%+53%+3.6%+11%+195%+84%

Net income · YoY (vs a year ago)

————-77%-148%-19%+201%+304%+312%+421%+524%

RevenueOperating incomeNet incomeLine = trend

US$	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	$35.41B	$31.76B	$34.49B	$32.88B	$30.76B	$30.26B	$29.89B	$32.17B	$30.37B	$32.38B	$44.48B	$46.10B
Cost of revenue	$33.54B	$29.78B	$33.05B	$32.12B	$30.13B	$29.75B	$28.64B	$30.40B	$28.47B	$30.33B	$39.01B	$36.69B
Gross profit	$1.87B	$1.98B	$1.44B	$754.00M	$629.00M	$507.00M	$1.25B	$1.77B	$1.90B	$2.05B	$5.47B	$9.41B
Gross margin	5.3%	6.2%	4.2%	2.3%	2.0%	1.7%	4.2%	5.5%	6.3%	6.3%	12.3%	20.4%
Operating income	$1.55B	$1.68B	$1.22B	$507.00M	$348.00M	$-900.00M	$997.00M	$1.51B	$1.58B	$1.73B	$5.20B	$9.07B
Operating margin	4.4%	5.3%	3.5%	1.5%	1.1%	-3.0%	3.3%	4.7%	5.2%	5.3%	11.7%	19.7%
Interest expense	$149.00M	$140.00M	$140.00M	$141.00M	$135.00M	$137.00M	$141.00M	$139.00M	$139.00M	$140.00M	$145.00M	$144.00M
Pre-tax income	$1.55B	$1.68B	$1.20B	$489.00M	$323.00M	$-917.00M	$942.00M	$1.46B	$1.52B	$1.72B	$5.17B	$9.06B
Income tax	$331.00M	$353.00M	$277.00M	$96.00M	$-34.00M	$-265.00M	$279.00M	$390.00M	$355.00M	$401.00M	$1.09B	$2.07B
Net income	$1.20B	$1.25B	$880.00M	$364.00M	$281.00M	$-595.00M	$714.00M	$1.10B	$1.13B	$1.26B	$3.72B	$6.83B
Net margin	3.4%	3.9%	2.6%	1.1%	0.9%	-2.0%	2.4%	3.4%	3.7%	3.9%	8.4%	14.8%
EPS (diluted)	—	$3.75	$2.71	$1.14	—	$-1.90	$2.28	$3.53	—	$4.22	$12.62	$23.89

Income statement

Results for each year

8 fiscal years from the company's 10-K filings with the US SEC.

Revenue, gross profit and net income

$117.03B$5.59B$3.12B

FY18

$108.32B$4.78B$2.42B

FY19

$64.91B$-740.00M$-1.42B

FY20

$113.98B$3.13B$930.00M

FY21

$176.38B$16.80B$11.53B

FY22

$144.77B$12.93B$8.84B

FY23

$129.88B$4.81B$2.77B

FY24

$122.69B$5.43B$2.35B

FY25

Revenue · YoY (vs a year ago)

—-7.4%-40%+76%+55%-18%-10%-5.5%

Net income · YoY (vs a year ago)

—-22%-159%+165%+1,140%-23%-69%-15%

RevenueGross profitNet incomeLine = trend

$7.29

FY18

$5.84

FY19

$-3.50

FY20

$2.27

FY21

$29.04

FY22

$24.92

FY23

$8.58

FY24

$7.57

FY25

EPS (diluted) · YoY (vs a year ago)

—-20%-160%+165%+1,179%-14%-66%-12%

EPS (diluted)Line = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$117.03B	$108.32B	$64.91B	$113.98B	$176.38B	$144.77B	$129.88B	$122.69B
Revenue growth	—	-7.4%	-40.1%	75.6%	54.8%	-17.9%	-10.3%	-5.5%
Cost of revenue	$111.44B	$103.55B	$65.65B	$110.85B	$159.59B	$131.83B	$125.08B	$117.26B
Gross profit	$5.59B	$4.78B	$-740.00M	$3.13B	$16.80B	$12.93B	$4.81B	$5.43B
Gross margin	4.8%	4.4%	-1.1%	2.7%	9.5%	8.9%	3.7%	4.4%
Operating income	$4.57B	$3.84B	$-1.58B	$2.13B	$15.69B	$11.86B	$3.76B	$3.18B
Operating margin	3.9%	3.5%	-2.4%	1.9%	8.9%	8.2%	2.9%	2.6%
Depreciation & amortisation	$52.00M	$53.00M	$48.00M	$47.00M	$45.00M	$43.00M	$45.00M	$63.00M
Interest expense	$470.00M	$454.00M	$563.00M	$603.00M	$562.00M	$592.00M	$556.00M	$556.00M
Pre-tax income	$4.23B	$3.49B	$-2.01B	$1.54B	$15.31B	$11.77B	$3.70B	$3.01B
Income tax	$879.00M	$702.00M	$-903.00M	$255.00M	$3.43B	$2.62B	$692.00M	$759.00M
Tax rate	20.8%	20.1%	—	16.5%	22.4%	22.3%	18.7%	25.3%
Net income	$3.12B	$2.42B	$-1.42B	$930.00M	$11.53B	$8.84B	$2.77B	$2.35B
Net margin	2.7%	2.2%	-2.2%	0.8%	6.5%	6.1%	2.1%	1.9%
EPS (diluted)	$7.29	$5.84	$-3.50	$2.27	$29.04	$24.92	$8.58	$7.57

Balance sheet

Assets and debt

At each fiscal year end.

Equity, debt and cash

$21.67B$8.74B$2.98B

FY18

$21.80B$9.38B$2.58B

FY19

$18.80B$13.74B$3.31B

FY20

$18.43B$13.21B$4.12B

FY21

$23.56B$10.35B$4.86B

FY22

$26.35B$10.62B$5.42B

FY23

$24.51B$8.83B$4.66B

FY24

$23.73B$9.21B$4.69B

FY25

Shareholders' equity · YoY (vs a year ago)

—+0.6%-14%-2.0%+28%+12%-7.0%-3.2%

Shareholders' equityTotal debtCash + short-term investmentsLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & equivalents	$2.98B	$2.58B	$3.31B	$4.12B	$4.86B	$5.42B	$4.66B	$4.69B
Current assets	$17.68B	$18.97B	$15.84B	$21.17B	$24.13B	$26.22B	$23.74B	$23.21B
Total assets	$50.16B	$53.86B	$51.77B	$57.89B	$60.98B	$63.06B	$60.14B	$57.99B
Current liabilities	$10.72B	$13.16B	$9.28B	$16.85B	$17.46B	$16.80B	$15.50B	$14.11B
Long-term debt	$8.50B	$8.88B	$13.01B	$11.95B	$9.24B	$9.22B	$8.09B	$8.26B
Short-term debt	$238.00M	$494.00M	$723.00M	$1.26B	$1.11B	$1.41B	$743.00M	$949.00M
Total debt	$8.74B	$9.38B	$13.74B	$13.21B	$10.35B	$10.62B	$8.83B	$9.21B
Shareholders' equity	$21.67B	$21.80B	$18.80B	$18.43B	$23.56B	$26.35B	$24.51B	$23.73B
Current ratio	1.65	1.44	1.71	1.26	1.38	1.56	1.53	1.65
Debt / equity	0.40	0.43	0.73	0.72	0.44	0.40	0.36	0.39
Return on equity	14.4%	11.1%	-7.6%	5.0%	48.9%	33.5%	11.3%	9.9%

Cash flow

Cash coming in and going out

Free cash flow = cash from operations minus capital spending. Shareholder returns = dividends + buybacks.

Free cash flow and shareholder returns

$4.37B$995.00M$3.08B

FY18

$5.53B$2.69B$2.27B

FY19

$948.00M$-1.49B$1.76B

FY20

$5.86B$3.40B$1.63B

FY21

$12.57B$9.84B$6.14B

FY22

$9.23B$7.31B$6.59B

FY23

$6.68B$4.63B$4.26B

FY24

$5.83B$5.83B$4.00B

FY25

Operating cash flow · YoY (vs a year ago)

—+27%-83%+518%+115%-27%-28%-13%

Free cash flow · YoY (vs a year ago)

—+170%-155%+329%+189%-26%-37%+26%

Operating cash flowFree cash flowDividends + buybacksLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash from operations	$4.37B	$5.53B	$948.00M	$5.86B	$12.57B	$9.23B	$6.68B	$5.83B
Capital spending	$-3.38B	$-2.85B	$-2.44B	$-2.46B	$-2.74B	$-1.92B	$-2.06B	—
Free cash flow	$995.00M	$2.69B	$-1.49B	$3.40B	$9.84B	$7.31B	$4.63B	$5.83B
FCF margin	0.9%	2.5%	-2.3%	3.0%	5.6%	5.1%	3.6%	4.7%
Stock-based pay	$86.00M	$89.00M	$80.00M	$88.00M	$103.00M	$107.00M	$100.00M	$117.00M
Cash from investing	$-3.93B	$-3.00B	$-2.43B	$-2.16B	$-2.81B	$-1.87B	$-1.98B	$-1.85B
Cash from financing	$-3.17B	$-3.00B	$2.08B	$-2.85B	$-8.85B	$-6.94B	$-5.05B	$-4.18B
Dividends paid	$-1.37B	$-1.49B	$-1.60B	$-1.60B	$-1.56B	$-1.45B	$-1.38B	$-1.41B
Share buybacks	$-1.71B	$-777.00M	$-156.00M	$-27.00M	$-4.58B	$-5.14B	$-2.88B	$-2.60B

About

About Valero Energy Corporation

Valero Energy Corporation is an American-based fuels producer mostly involved in manufacturing and marketing transportation fuels and other related products. It is headquartered in San Antonio, Texas, United States. Throughout the United States, Canada, and the United Kingdom, the company owns and operates 14 refineries with a combined throughput capacity of approximately 3.2 million barrels per day, two renewable diesel plants that produce approximately 1.2 billion gallons per year, and 12 ethanol plants with a combined production capacity of 1.6 billion gallons as its subsidiaries.

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: Valero Energy Corporation
Ticker: VLO
Exchange: NYSE
ISIN: US91913Y1001
SEC CIK: 0001035002
Sector: Energy
Industry: Oil Refining/Marketing
SEC industry (SIC): Petroleum Refining (2911)
Incorporated in: Delaware
Financial year ends: 31 December
Filer type: Large accelerated filer
Latest annual report (10-K): 25 Feb 2026
CEO: Lane Riggs
Chair: R. Lane Riggs
Headquarters: San Antonio
Address: P.o. Box 696000, San Antonio, Tx 78269-6000
Founded: 1980
Employees: 9,811
Formerly known as: Valero Refining & Marketing Co
Trades in: US dollars (USD)
Website: valero.com

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Valero Energy Corporation

Key numbers

Quarterly results

Revenue and net income

Income statement

Revenue, gross profit and net income

Balance sheet

Equity, debt and cash

Cash flow

Free cash flow and shareholder returns

About

Company details

News

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