VALERO ENERGY CORP/TX VLO

Energy SIC 2911 - Petroleum Refining NYSE

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.

Last close 370.72 2026-09-04
Market cap $106.74B 2026-06-30 share count
52-week range 153.60 - 375.11

Valuation FY2025 figures against the last close

P/S0.9x
P/E49.0x
P/FCF18.3x
EV/EBITDA17.6x
Dividend yield1.3%
Diluted EPS7.57

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 7.578.5824.9329.052.27-3.505.847.309.174.94
EPS, diluted 7.578.5824.9229.042.27-3.505.847.299.164.94
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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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