Valero Energy Corp
VLO- Exchange
- NYSE
- Industry
- Petroleum Refining
- SEC CIK
- 0001035002
No open-market purchases or sales by Valero Energy Corp insiders were filed in the last 90 days; 1,991 institutions reported holding it in 13F filings for Q2 2026, worth $64.1B in total; Semper Augustus is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 29, 2026, 1:12 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Revenue | $122.7B | $129.9B | $144.8B | $176.4B | $114.0B |
| Cost of revenue | $117.3B | $125.1B | $131.8B | $159.6B | $110.8B |
| Selling, general and administrative | $1.04B | $961.0M | $998.0M | $934.0M | $865.0M |
| Operating income | $3.18B | $3.75B | $11.9B | $15.7B | $2.13B |
| Interest expense | $556.0M | $556.0M | $592.0M | $562.0M | $603.0M |
| Income tax | $759.0M | $692.0M | $2.62B | $3.43B | $255.0M |
| Net income | $2.35B | $2.77B | $8.84B | $11.5B | $930.0M |
| EPS, basic | $7.57 | $8.58 | $24.93 | $29.05 | $2.27 |
| EPS, diluted | $7.57 | $8.58 | $24.92 | $29.04 | $2.27 |
| Weighted shares, basic | 309.0M | 322.0M | 353.0M | 395.0M | 407.0M |
| Weighted shares, diluted | 309.0M | 322.0M | 353.0M | 396.0M | 407.0M |
| Margins and growth | |||||
| Operating margin | 2.6% | 2.9% | 8.2% | 8.9% | 1.9% |
| Net margin | 1.9% | 2.1% | 6.1% | 6.5% | 0.8% |
| Revenue growth, year over year | −5.5% | −10.3% | −17.9% | +54.8% | +75.6% |
| Net income growth, year over year | −15.2% | −68.6% | −23.4% | +1,139.6% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Cash and equivalents | $4.69B | $4.66B | $5.42B | $4.86B | $4.12B |
| Accounts receivable | $9.21B | $9.73B | $11.0B | $10.8B | $9.97B |
| Inventory | $7.59B | $7.76B | $7.58B | $6.75B | $6.26B |
| Total current assets | $23.2B | $23.7B | $26.2B | $24.1B | $21.2B |
| Goodwill | $260.0M | $260.0M | $260.0M | $260.0M | $260.0M |
| Intangible assets | $123.0M | $151.0M | $183.0M | $202.0M | $218.0M |
| Total assets | $58.0B | $60.1B | $63.1B | $61.0B | $57.9B |
| Accounts payable | $10.1B | $12.1B | $12.6B | $12.7B | $12.5B |
| Short-term debt | $949.0M | $743.0M | $1.41B | $1.11B | $1.26B |
| Total current liabilities | $14.1B | $15.5B | $16.8B | $17.5B | $16.9B |
| Long-term debt | $8.26B | $8.09B | $9.22B | $9.24B | $11.9B |
| Shareholders' equity | $26.6B | $27.5B | $28.5B | $25.5B | $19.8B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Operating cash flow | $5.83B | $6.68B | $9.23B | $12.6B | $5.86B |
| Capital expenditures | – | $2.06B | $1.92B | $2.74B | $2.46B |
| Free cash flow | – | $4.63B | $7.31B | $9.84B | $3.40B |
| Depreciation and amortization | $63.0M | $45.0M | $43.0M | $45.0M | $47.0M |
| Stock-based compensation | $117.0M | $100.0M | $107.0M | $103.0M | $88.0M |
| Dividends paid | $1.41B | $1.38B | $1.45B | $1.56B | $1.60B |
| Share buybacks | $2.60B | $2.88B | $5.14B | $4.58B | $27.0M |
| Investing cash flow | -$1.84B | -$1.98B | -$1.86B | -$2.81B | -$2.16B |
| Financing cash flow | -$4.18B | -$5.05B | -$6.94B | -$8.85B | -$2.85B |
| Net change in cash | $36.0M | -$595.0M | $562.0M | $740.0M | $809.0M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 23, 2026 | 278.9M | −8.6% | SEC |
| Jul 24, 2026 | 287.9M | −7.3% | SEC |
| Apr 24, 2026 | 296.9M | −5.2% | SEC |
| Feb 20, 2026 | 299.0M | −5.1% | SEC |
| Oct 17, 2025 | 305.0M | −3.7% | SEC |
| Jul 18, 2025 | 310.7M | −3.0% | SEC |
| Apr 17, 2025 | 313.2M | −4.2% | SEC |
| Feb 21, 2025 | 315.0M | −5.3% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.