VALERO ENERGY CORP/TX VLO
We are a Fortune 500 company based in San Antonio, Texas. Our corporate offices are at One Valero Way, San Antonio, Texas, 78249, and our telephone number is (210) 345-2000. We were incorporated in Delaware in 1981 under the name Valero Refining and Marketing Company. We changed our name to Valero Energy Corporation in 1997. Our common stock trades on the New York Stock Exchange (NYSE) under the trading symbol "VLO."
We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and we sell our products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America. We own 15 petroleum refineries located in the U.S., Canada, and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day (BPD). We are a joint venture member in DGD1, which produces low-carbon fuels at two plants located in the Gulf Coast region of the U.S. with a combined production capacity of approximately 1.2 billion gallons per year. We also own 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.7 billion gallons per year. We manage our operations through our Refining, Renewable Diesel, and Ethanol segments. See "OUR OPERATIONS" below for additional information about the operations, products, and properties of each of our reportable segments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $122.69B | $129.88B | $144.77B | $176.38B | $113.98B | $64.91B | $108.32B | $117.03B | $93.98B | $75.66B |
| Cost of revenue | $117.25B | $125.08B | $131.83B | $159.59B | $110.85B | $65.65B | $103.55B | $111.44B | $89.47B | $71.31B |
| Gross profit | $5.43B | $4.80B | $12.93B | $16.80B | $3.13B | -$740.0M | $4.78B | $5.59B | $4.50B | $4.35B |
| SG&A | $1.04B | $961.0M | $998.0M | $934.0M | $865.0M | $756.0M | $868.0M | $925.0M | $829.0M | $709.0M |
| Total operating expenses | — | — | — | — | — | — | — | — | — | $72.09B |
| Operating income | $3.18B | $3.75B | $11.86B | $15.69B | $2.13B | -$1.58B | $3.84B | $4.57B | $3.56B | $3.53B |
| Interest expense | $556.0M | $556.0M | $592.0M | $562.0M | $603.0M | $563.0M | $454.0M | $470.0M | $468.0M | $446.0M |
| Pre-tax income | $3.00B | $3.70B | $11.77B | $15.31B | $1.54B | -$2.01B | $3.49B | $4.23B | $3.21B | $3.18B |
| Income tax | $759.0M | $692.0M | $2.62B | $3.43B | $255.0M | $903.0M | $702.0M | $879.0M | $949.0M | $765.0M |
| Net income | $2.35B | $2.77B | $8.84B | $11.53B | $930.0M | -$1.42B | $2.42B | $3.12B | $4.07B | $2.29B |
| EPS, basic | 7.57 | 8.58 | 24.93 | 29.05 | 2.27 | -3.50 | 5.84 | 7.30 | 9.17 | 4.94 |
| EPS, diluted | 7.57 | 8.58 | 24.92 | 29.04 | 2.27 | -3.50 | 5.84 | 7.29 | 9.16 | 4.94 |
| Shares, diluted (wtd. avg.) | $309.0M | $322.0M | $353.0M | $396.0M | $407.0M | $407.0M | $414.0M | $428.0M | $444.0M | $464.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.69B | $4.66B | $5.42B | $4.86B | $4.12B | $3.31B | $2.58B | $2.98B | $5.85B | $4.82B |
| Receivables | $9.21B | $9.73B | $11.04B | $10.76B | $9.97B | $4.81B | $8.06B | $7.34B | $6.92B | $5.90B |
| Inventory | $7.59B | $7.76B | $7.58B | $6.75B | $6.26B | $6.04B | $7.01B | $6.53B | $6.38B | $5.71B |
| Total current assets | $23.21B | $23.74B | $26.22B | $24.13B | $21.16B | $15.84B | $18.97B | $17.68B | $19.31B | $16.80B |
| Property, plant and equipment | — | — | — | — | — | — | $29.26B | $28.85B | $27.48B | $26.47B |
| Goodwill | $260.0M | $260.0M | $260.0M | $260.0M | $260.0M | $260.0M | $260.0M | $260.0M | $0 | — |
| Other intangibles | $123.0M | $151.0M | $183.0M | $202.0M | $218.0M | $248.0M | $283.0M | $307.0M | $142.0M | $148.0M |
| Total assets | $57.99B | $60.14B | $63.06B | $60.98B | $57.89B | $51.77B | $53.86B | $50.16B | $50.16B | $46.17B |
| Accounts payable | $10.14B | $12.09B | $12.57B | $12.73B | $12.49B | $6.08B | $10.21B | $8.59B | $8.35B | $6.36B |
| Short-term debt | $949.0M | $743.0M | $1.41B | $1.11B | $1.26B | $723.0M | $494.0M | $238.0M | $122.0M | $115.0M |
| Total current liabilities | $14.11B | $15.49B | $16.80B | $17.46B | $16.85B | $9.28B | $13.16B | $10.72B | $11.07B | $8.33B |
| Long-term debt | $8.26B | $8.09B | $9.22B | $9.24B | $11.95B | $13.01B | $8.88B | $8.50B | $8.31B | $7.93B |
| Retained earnings | $47.96B | $47.02B | $45.63B | $38.25B | $28.28B | $28.95B | $31.97B | $31.04B | $29.20B | $26.37B |
| Total equity | $23.73B | $24.51B | $28.52B | $25.47B | $19.82B | $19.64B | $22.54B | $22.73B | $22.90B | $20.85B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.83B | $6.68B | $9.23B | $12.57B | $5.86B | $948.0M | $5.53B | $4.37B | $5.48B | $4.82B |
| Depreciation and amortisation | $3.16B | $2.77B | $2.70B | $2.47B | $2.40B | $2.35B | $2.25B | $2.07B | $1.99B | $1.89B |
| Stock-based compensation | $117.0M | $100.0M | $107.0M | $103.0M | $88.0M | $80.0M | $89.0M | $86.0M | $77.0M | $68.0M |
| Capital expenditure | — | $2.06B | $1.92B | $2.74B | $2.46B | $2.44B | $2.85B | $3.38B | $1.95B | $2.00B |
| Investing cash flow | -$1.84B | -$1.98B | -$1.86B | -$2.81B | -$2.16B | -$2.42B | -$3.00B | -$3.93B | -$2.38B | -$2.01B |
| Financing cash flow | -$4.18B | -$5.05B | -$6.94B | -$8.85B | -$2.85B | $2.08B | -$3.00B | -$3.17B | -$2.27B | -$2.01B |
| Dividends paid | $1.41B | $1.38B | $1.45B | $1.56B | $1.60B | $1.60B | $1.49B | $1.37B | $1.24B | $1.11B |
| Buybacks | $2.60B | $2.88B | $5.14B | $4.58B | $27.0M | $156.0M | $777.0M | $1.71B | $1.37B | $1.34B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-011499.
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