VALERO ENERGY CORP/TX
VLO· NYSE· Petroleum Refining
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- –
- ROIC, 5 yr avg
- 20.1%
- Revenue, 5 yr CAGR
- +13.6%
We record prices for the companies we cover; VLO is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 309.0M
- Revenue
- $122.7B
- Free cash flow
- –
- Owner earnings
- –
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 2.6%
- Net
- 1.9%
- Free cash flow
- –
- Owner earnings
- –
- Stock pay
- 0.1%
Returns
- ROIC, FY2025
- 8.7%
- ROIC, 5 yr avg
- 20.1%
- ROE, FY2025
- 9.9%
- ROE, 5 yr avg
- 21.7%
Growth (CAGR)
- Revenue, 3 yr
- -11.4%
- Revenue, 5 yr
- 13.6%
- Revenue, 9 yr
- 5.5%
- Diluted EPS, 3 yr
- -36.1%
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- 4.9%
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $4.7B
- Total debt
- $8.3B
- Net debt
- $3.6B
- Debt/Equity
- 0.3x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 59.8%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -5.4%
Financials: ten years from the 10-Ks
Revenue
$122.7B
+5.5% a year over 9 years
FY2016FY2025
Margins
Operating2.6%Net1.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow–Owner earnings–
Free cash flow +3.4% a year
FY2016FY2025
Diluted shares
309.0M
-33.4% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
8.7%
FY2025
FY2016FY2025
Net debt (below zero)
-$3.6B
$3.6B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $75.7B | $94.0B | $117.0B | $108.3B | $64.9B | $114.0B | $176.4B | $144.8B | $129.9B | $122.7B |
| Revenue growth | – | 24.2% | 24.5% | -7.4% | -40.1% | 75.6% | 54.8% | -17.9% | -10.3% | -5.5% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 4.7% | 3.8% | 3.9% | 3.5% | -2.4% | 1.9% | 8.9% | 8.2% | 2.9% | 2.6% |
| Net income | $2.3B | $4.1B | $3.1B | $2.4B | -$1.4B | $930.0M | $11.5B | $8.8B | $2.8B | $2.3B |
| Net margin | 3.0% | 4.3% | 2.7% | 2.2% | -2.2% | 0.8% | 6.5% | 6.1% | 2.1% | 1.9% |
| Diluted EPS | $4.94 | $9.16 | $7.29 | $5.84 | $-3.50 | $2.27 | $29.04 | $24.92 | $8.58 | $7.57 |
| Return on invested capital? | 11.6% | – | 13.3% | 10.9% | – | 6.8% | 43.6% | 30.6% | 10.9% | 8.7% |
| Cash | ||||||||||
| Operating cash flow | $4.8B | $5.5B | $4.4B | $5.5B | $948.0M | $5.9B | $12.6B | $9.2B | $6.7B | $5.8B |
| Capital expenditure | $1.3B | $1.4B | $3.4B | $2.8B | $2.4B | $2.5B | $2.7B | $1.9B | $2.1B | – |
| Free cash flow | $3.5B | $4.1B | $995.0M | $2.7B | -$1.5B | $3.4B | $9.8B | $7.3B | $4.6B | – |
| Stock-based compensation | $68.0M | $77.0M | $86.0M | $89.0M | $80.0M | $88.0M | $103.0M | $107.0M | $100.0M | $117.0M |
| Owner earnings? | $3.5B | $4.1B | $909.0M | $2.6B | -$1.6B | $3.3B | $9.7B | $7.2B | $4.5B | – |
| Free cash flow per share | $7.63 | $9.30 | $2.32 | $6.49 | $-3.66 | $8.36 | $24.84 | $20.72 | $14.37 | – |
| Capital allocation | ||||||||||
| Dividends paid | $1.1B | $1.2B | $1.4B | $1.5B | $1.6B | $1.6B | $1.6B | $1.5B | $1.4B | $1.4B |
| Share repurchases | $1.3B | $1.4B | $1.7B | $777.0M | $156.0M | $27.0M | $4.6B | $5.1B | $2.9B | $2.6B |
| Diluted shares | 464.0M | 444.0M | 428.0M | 414.0M | 407.0M | 407.0M | 396.0M | 353.0M | 322.0M | 309.0M |
| Share count change? | -7.2% | -4.3% | -3.6% | -3.3% | -1.7% | 0.0% | -2.7% | -10.9% | -8.8% | -4.0% |
| Balance sheet | ||||||||||
| Cash and equivalents | $4.8B | $5.8B | $3.0B | $2.6B | $3.3B | $4.1B | $4.9B | $5.4B | $4.7B | $4.7B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $7.9B | $8.3B | $8.5B | $8.9B | $13.0B | $11.9B | $9.2B | $9.2B | $8.1B | $8.3B |
| Net debt | $3.1B | $2.5B | $5.5B | $6.3B | $9.7B | $7.8B | $4.4B | $3.8B | $3.4B | $3.6B |
| Shareholders' equity | $20.0B | $22.0B | $21.7B | $21.8B | $18.8B | $18.4B | $23.6B | $26.3B | $24.5B | $23.7B |
Latest filings
| 2026-10-28 | 10-Q | Quarterly report |
| 2026-10-22 | 8-K | Earnings release |
| 2026-07-30 | 10-Q | Quarterly report |
| 2026-07-30 | 8-K | Earnings release |
| 2026-04-30 | 10-Q | Quarterly report |
| 2026-04-30 | 8-K | Earnings release |
| 2026-03-19 | DEF 14A | Proxy statement |
| 2026-02-25 | 10-K | Annual report |
| 2026-01-29 | 8-K | Earnings release |
| 2025-10-23 | 10-Q | Quarterly report |
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