VLO
$444.71+0.15%
as of close, Oct 16, 2026
☾ AH $444.71 +0.15%
Valero Energy CorporationStock · EnergyS&P 500 Equal Weight 0.2%S&P 500 0.1%Russell 1000 0.1%US Stock Market 0.1%Russell 3000 0.1%MSCI ACWI 0.09%MSCI World 0.08%
VLO financial statements
The full income statement, balance sheet, and cash-flow statement for Valero Energy Corporation (VLO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 320.4M2024-09 316.6M2024-12 315.0M2025-03 313.2M2025-06 310.7M2025-09 305.0M2025-12 299.0M2026-03 296.9M2026-06 287.9M-10.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 123B-5.5% | 130B-10.3% | 145B-17.9% | 176B+54.8% | 114B+75.6% | |
| Cost of revenue | 117B-6.3% | 125B-5.1% | 132B-17.4% | 160B+44.0% | 111B+68.8% | |
| Selling, general & administrative | 1.04B+8.4% | 961M-3.7% | 998M+6.9% | 934M+8.0% | 865M+14.4% | |
| General & administrative | 1.04B+8.4% | 961M-3.7% | 998M+6.9% | 934M+8.0% | 865M+14.4% | |
| Operating income | 3.18B-15.3% | 3.75B-68.3% | 11.9B-24.4% | 15.7B+636.6% | 2.13B+234.9% | |
| Interest expense | 556M+0.0% | 556M-6.1% | 592M+5.3% | 562M-6.8% | 603M+7.1% | |
| Other non-operating income | 380M-23.8% | 499M-0.6% | 502M+180.4% | 179M+1018.8% | 16.0M-87.9% | |
| Pre-tax income | 3.00B-18.7% | 3.70B-68.6% | 11.8B-23.1% | 15.3B+892.0% | 1.54B+176.8% | |
| Income tax | 759M+9.7% | 692M-73.6% | 2.62B-23.6% | 3.43B+1244.3% | 255M+128.2% | |
| 2.35B-15.2% | 2.77B-68.6% | 8.84B-23.4% | 11.5B+1139.6% | 930M+165.4% | ||
| Net income to non-controlling interest | -102M-143.2% | 236M-24.8% | 314M-10.5% | 351M-2.0% | 358M+14.0% | |
| Net income to common | 2.34B-15.2% | 2.76B-68.6% | 8.81B-23.3% | 11.5B+1143.0% | 924M+164.8% | |
| $7.57-11.8% | $8.58-65.6% | $24.92-14.2% | $29.04+1179.3% | $2.27+164.9% | ||
| EPS (basic) | $7.57-11.8% | $8.58-65.6% | $24.93-14.2% | $29.05+1179.7% | $2.27+164.9% | |
| Weighted-avg shares (basic) | 309M-4.0% | 322M-8.8% | 353M-10.6% | 395M-2.9% | 407M+0.0% | |
| Weighted-avg shares (diluted) | 309M-4.0% | 322M-8.8% | 353M-10.9% | 396M-2.7% | 407M+0.0% | |
| Dividends per share | $4.52+5.6% | $4.28+4.9% | $4.08+4.1% | $3.92+0.0% | $3.92+0.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 23.2B-2.2% | 23.7B-9.5% | 26.2B+8.7% | 24.1B+14.0% | 21.2B+33.6% | ||
| Cash & equivalents | 4.69B+0.7% | 4.66B-14.1% | 5.42B+11.6% | 4.86B+18.0% | 4.12B+24.4% | |
| Accounts receivable | 9.21B-5.4% | 9.73B-11.8% | 11.0B+2.6% | 10.8B+8.0% | 9.97B+107.4% | |
| Inventory | 7.59B-2.2% | 7.76B+2.3% | 7.58B+12.3% | 6.75B+7.8% | 6.26B+3.8% | |
| Prepaid expenses | 1.05B+72.5% | 611M-11.3% | 689M+14.8% | 600M+50.0% | 400M+4.2% | |
| 58.0B-3.6% | 60.1B-4.6% | 63.1B+3.4% | 61.0B+5.3% | 57.9B+11.8% | ||
| Operating lease right-of-use | 1.07B-2.4% | 1.10B-3.3% | 1.14B+2.0% | 1.11B-13.2% | 1.28B+6.6% | |
| Goodwill | 260M+0.0% | 260M+0.0% | 260M+0.0% | 260M+0.0% | 260M+0.0% | |
| Intangible assets | 123M-18.5% | 151M-17.5% | 183M-9.4% | 202M-7.3% | 218M-12.1% | |
| Other non-current assets | — | 7.09B+7.0% | 6.63B+12.9% | 5.87B-0.1% | 5.88B+6.0% | |
| 14.1B-8.9% | 15.5B-7.8% | 16.8B-3.8% | 17.5B+3.6% | 16.9B+81.5% | ||
| Accounts payable | 10.1B-16.2% | 12.1B-3.8% | 12.6B-1.3% | 12.7B+1.9% | 12.5B+105.4% | |
| Accrued liabilities | 1.40B+24.2% | 1.13B-8.9% | 1.24B+2.1% | 1.22B-3.0% | 1.25B+26.1% | |
| Deferred revenue | 60.0M-26.8% | 82.0M+105.0% | 40.0M-69.0% | 129M+65.4% | 78.0M+41.8% | |
| Short-term & current debt | 949M+27.7% | 743M-47.2% | 1.41B+26.8% | 1.11B-12.3% | 1.26B+74.8% | |
| Current lease liability | 419M+10.8% | 378M+5.0% | 360M+15.8% | 311M-1.3% | 315M+10.5% | |
| Finance lease liability (current) | 254M+4.1% | 244M+16.7% | 209M-15.7% | 248M+61.0% | 154M+28.3% | |
| Long-term debt | 8.26B+2.2% | 8.09B-12.3% | 9.22B-0.2% | 9.24B-22.7% | 11.9B-8.2% | |
| Non-current lease liability | 665M-4.9% | 699M-7.2% | 753M-3.0% | 776M-17.4% | 940M+6.2% | |
| Operating lease liability (total) | 1.08B+0.6% | 1.08B-3.2% | 1.11B+2.4% | 1.09B-13.4% | 1.25B+7.3% | |
| Finance lease liability (total) | 2.36B-0.8% | 2.38B+3.1% | 2.31B-3.7% | 2.39B+24.7% | 1.92B+15.4% | |
| Finance lease liability | 2.10B-1.4% | 2.13B+1.8% | 2.10B-2.3% | 2.15B+21.5% | 1.77B+14.4% | |
| Deferred tax liabilities | 5.15B-2.3% | 5.27B-1.5% | 5.35B+2.5% | 5.22B+0.1% | 5.21B-1.2% | |
| Other non-current liabilities | 2.46B+14.9% | 2.14B-5.4% | 2.26B-2.0% | 2.31B-32.1% | 3.40B-6.0% | |
| 23.7B-3.2% | 24.5B-7.0% | 26.3B+11.8% | 23.6B+27.8% | 18.4B-2.0% | ||
| Common stock | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | 7.00M+0.0% | |
| Additional paid-in capital | 6.98B+0.6% | 6.94B+0.6% | 6.90B+0.6% | 6.86B+0.5% | 6.83B+0.2% | |
| Retained earnings | 48.0B+2.0% | 47.0B+3.0% | 45.6B+19.3% | 38.2B+35.2% | 28.3B-2.3% | |
| Treasury stock | 30.8B+9.1% | 28.2B+11.3% | 25.3B+25.4% | 20.2B+28.8% | 15.7B-0.3% | |
| Accumulated other comprehensive income | -469M+63.1% | -1.27B-46.2% | -870M+36.0% | -1.36B-34.8% | -1.01B+19.6% | |
| Non-controlling interest | 2.88B-4.3% | 3.01B+38.2% | 2.18B+14.2% | 1.91B+37.5% | 1.39B+64.9% | |
| Total equity incl. non-controlling | 26.6B-3.3% | 27.5B-3.5% | 28.5B+12.0% | 25.5B+28.5% | 19.8B+0.9% | |
| Total liabilities & equity | 58.0B-3.6% | 60.1B-4.6% | 63.1B+3.4% | 61.0B+5.3% | 57.9B+11.8% | |
| Common shares issued | 674M+0.0% | 674M+0.0% | 674M+0.0% | 674M+0.0% | 674M+0.0% | |
| Shares outstanding (cover) | 299M-5.1% | 315M-5.3% | 332M-10.4% | 371M-9.3% | 409M+0.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.83B-12.8% | 6.68B-27.6% | 9.23B-26.6% | 12.6B+114.6% | 5.86B+518.0% | ||
| Depreciation & amortization | 3.16B+13.8% | 2.77B+2.7% | 2.70B+9.2% | 2.47B+2.8% | 2.40B+2.3% | |
| Share-based compensation | 117M+17.0% | 100M-6.5% | 107M+3.9% | 103M+17.0% | 88.0M+10.0% | |
| Deferred income taxes | -197M-126.4% | -87.0M-184.5% | 103M+106.0% | 50.0M+139.7% | -126M-179.7% | |
| Change in inventory | -362M-226.6% | 286M-58.2% | 684M+1.8% | 672M+165.6% | 253M+125.1% | |
| Change in payables | -2.02B-368.8% | -430M-154.4% | -169M-132.4% | 521M-91.7% | 6.30B+254.9% | |
| Other operating activities | -13.0M-102.7% | 478M+1056.0% | -50.0M | — | — | |
| -1.84B+6.9% | -1.98B-6.2% | -1.86B+33.5% | -2.81B-29.9% | -2.16B+11.0% | ||
| Capital expenditure | — | 2.06B+7.4% | 1.92B-30.0% | 2.74B+11.4% | 2.46B+0.9% | |
| Free cash flow | — | 4.63B-36.7% | 7.31B-25.7% | 9.84B+189.2% | 3.40B+328.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | -40.0M-66.7% | -24.0M-84.6% | -13.0M-425.0% | 4.00M+110.5% | -38.0M+41.5% | |
| -4.18B+17.2% | -5.05B+27.3% | -6.94B+21.6% | -8.85B-210.9% | -2.85B-237.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 2.60B-9.6% | 2.88B-44.0% | 5.14B+12.2% | 4.58B+16851.9% | 27.0M-82.7% | |
| Dividends paid | 1.41B+1.5% | 1.38B-4.7% | 1.45B-7.0% | 1.56B-2.5% | 1.60B+0.1% | |
| Other financing activities | -16.0M-1500.0% | -1.00M-133.3% | 3.00M+118.8% | -16.0M+11.1% | -18.0M+47.1% | |
| FX effect on cash | 237M+195.6% | -248M-278.4% | 139M+177.2% | -180M-300.0% | -45.0M-134.6% | |
| Net change in cash | 36.0M+106.1% | -595M-205.9% | 562M-24.1% | 740M-8.5% | 809M+10.8% | |
| Interest paid | 533M-4.1% | 556M-1.1% | 562M-1.4% | 570M-4.7% | 598M+13.7% | |
| Income taxes paid | 699M-17.1% | 843M-75.9% | 3.49B+6.3% | 3.29B+490.5% | -842M-514.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 48.7B+26.1% | 38.6B-12.8% | 44.3B-9.5% | 48.9B+59.1% | 30.7B+33.0% | |
| P/E | 20.7×+48.7% | 13.9×+238.5% | 4.1×-20.6% | 5.2×-84.3% | 33.1× | |
| P/S | 0.4×+33.5% | 0.3×+1.5% | 0.3×+2.1% | 0.3×+6.3% | 0.3×-24.2% | |
| P/B | 2.1×+30.2% | 1.6×-7.5% | 1.7×-23.7% | 2.2×+33.8% | 1.7×+35.7% | |
| P/FCF | 17.3×+107.0% | 8.3×+85.5% | 4.5×-68.7% | 14.4×+59.1% | 9.0× | |
| Earnings yield | 4.8%-32.8% | 7.2%-70.5% | 24.3%+26.0% | 19.3%+537.0% | 3.0% | |
| FCF yield | 5.8%-51.7% | 12.0%-46.1% | 22.2%+219.6% | 7.0%-37.1% | 11.1% | |
| Dividend yield | 2.8%-20.5% | 3.5%+11.2% | 3.1%+1.6% | 3.1%-40.8% | 5.2%-24.7% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: VLO’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VLO filings on SEC EDGAR → Not investment advice.