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Valero Energy VLO

US equityMarket cap rank #137Oil & Gas Refining & Marketing
$389.09
+$13.25 (+3.53%)
Market open · Sep 24, 1:10 pm ET
After hours $375.88 +0.01%
Open$377.20
Prev close$375.84
Day range$373.17 – $392.58
Volume1.92M
Market cap$112.03B
P/E (TTM)16.2
Dividend yield1.20%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$44.48B+48.8% YoY
Operating profit$5.20B+421.2% YoY
Net profit$4.07B+514.3% YoY
Diluted EPS$12.62+453.5% YoY
Free cash flow$5.35B+581.2% YoY
Operating cash flow$5.58B

Revenue, last 8 quarters

$32.9BSep '24$30.8BDec '24$30.3BMar '25$29.9BJun '25$32.2BSep '25$30.4BDec '25$32.4BMar '26$44.5BJun '26

Net profit, last 8 quarters

$393.0MSep '24$357.0MDec '24$-652.0MMar '25$663.0MJun '25$1.1BSep '25$1.2BDec '25$1.3BMar '26$4.1BJun '26

Diluted EPS by quarter

1.14Sep '240.88Dec '24-1.90Mar '252.28Jun '253.53Sep '253.73Dec '254.22Mar '2612.62Jun '26

Free cash flow by quarter

$1.1BSep '24$767.0MDec '24$703.0MMar '25$786.0MJun '25$1.7BSep '25$1.8BDec '25$1.2BMar '26$5.4BJun '26

Annual revenue

$64.9BFY20$114.0BFY21$176.4BFY22$144.8BFY23$129.9BFY24$122.7BFY25

Profitability & balance sheet

Gross margin8.0%
Operating margin7.2%
Net margin5.2%
Return on equity29.3%
Return on assets11.6%
Return on invested capital21.5%
Current ratio1.64
Liabilities / assets56.3%
Cash & investments$7.87B
Total debt$11.35B
Net cash (debt)-$3.48B
Free cash flow / sales7.3%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Refining$42.30B 91.4%
  • Renewable diesel$2.68B 5.8%
  • Ethanol$1.31B 2.8%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $44.48B $32.38B $122.69B $30.37B $32.17B
Total Operating Revenue $44.48B $32.38B $122.69B $30.37B $32.17B
Cost of Revenue $39.02B $30.34B $117.32B $28.48B $30.41B
Gross Profit $5.46B $2.04B $5.37B $1.89B $1.76B
Operating Expense $259.00M $309.00M $1.06B $317.00M $251.00M
Selling and Admin Expenses $233.00M $285.00M $1.04B $315.00M $246.00M
-General & Admin Expense $233.00M $285.00M $1.04B $315.00M $246.00M
Other Operating Expenses $26.00M $24.00M $15.00M $2.00M $5.00M
Operating Profit $5.20B $1.73B $4.31B $1.58B $1.51B
Net Non-Operating Interest Income (Expense) -$145.00M -$140.00M -$556.00M -$139.00M -$139.00M
Non-Operating Interest Expense $145.00M $140.00M $556.00M $139.00M $139.00M
Other Income (Expense) $116.00M $132.00M -$751.00M $88.00M $86.00M
Special Income (Charges) $0.00 $0.00 -$1.13B $0.00 $0.00
-Less:Write Off $0.00 $0.00
Other Non-Operating Income (Expenses) $116.00M $132.00M $380.00M $88.00M $86.00M
Pretax Profit $5.17B $1.72B $3.01B $1.52B $1.46B
Tax $1.09B $401.00M $759.00M $355.00M $390.00M
Net Profit $4.07B $1.32B $2.25B $1.17B $1.07B
Profit from Continuing Operations $4.07B $1.32B $2.25B $1.17B $1.07B
Minority Interests $353.00M $59.00M -$102.00M $35.00M -$29.00M
Net Income to Parent Company $3.72B $1.26B $2.35B $1.13B $1.10B
Other Preferred Stock Dividends $10.00M $4.00M $7.00M $4.00M $3.00M
Net Income to Common Stockholders $3.71B $1.26B $2.34B $1.13B $1.09B
Basic EPS $12.62 $4.22 $7.57 $3.73 $3.54
Diluted EPS $12.62 $4.22 $7.57 $3.73 $3.53
Dividend Per Share $1.20 $1.20 $4.52 $1.13 $1.13
-Less:Impairment of Capital Assets $1.13B $0.00 $0.00

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $64.66B $62.14B $57.99B $57.99B $58.62B
Total Current Assets $30.67B $27.83B $23.21B $23.21B $23.50B
Cash and Cash Equivalents & Short-Term Investments $7.87B $5.73B $4.69B $4.69B $4.76B
-Cash and Cash Equivalents $7.87B $5.73B $4.69B $4.69B $4.76B
Receivables $13.93B $13.41B $9.88B $9.88B $10.33B
-Accounts Receivable $13.93B $13.41B $9.21B $9.21B $10.33B
Inventory $7.63B $7.56B $7.59B $7.59B $7.39B
Other Current Assets $1.24B $1.13B $1.05B $1.05B $1.01B
Total Non-Current Assets $33.99B $34.32B $34.78B $34.78B $35.11B
Net PPE $26.85B $27.11B $28.69B $28.69B $27.74B
-Gross PPE $50.09B $50.01B $51.16B $51.16B $49.66B
-Accumulated Depreciation -$23.25B -$22.90B -$22.47B -$22.47B -$21.92B
Other Non-Current Assets $7.15B $7.20B $976.00M $976.00M $7.37B
Total Liabilities $36.40B $35.21B $31.38B $31.38B $31.87B
Total Current Liabilities $18.74B $17.65B $14.11B $14.11B $14.73B
Payables $16.48B $15.31B $11.76B $11.76B $12.40B
-Accounts Payable $14.42B $13.40B $10.14B $10.14B $10.69B
-Total Tax Payable $2.05B $1.91B $1.62B $1.62B $1.70B
Current Accrued Expenses $1.34B $1.31B $843.00M $843.00M $1.44B
Short-Term Debt and Capital Lease Obligation $927.00M $1.03B $1.37B $1.37B $894.00M
-Current Debt $927.00M $1.03B $949.00M $949.00M $894.00M
Total Non-Current Liabilities $17.65B $17.56B $17.27B $17.27B $17.14B
Long Term Debt and Capital Lease Obligation $10.42B $10.47B $10.34B $10.34B $9.69B
-Long Term Debt $10.42B $10.47B $9.67B $9.67B $9.69B
Non-Current Deferred Liabilities $4.89B $4.73B $5.15B $5.15B $5.02B
Other Non-Current Liabilities $2.35B $2.37B $441.00M $441.00M $2.43B
Total Equity $28.27B $26.93B $26.61B $26.61B $26.75B
Stockholders' Equity $25.00B $23.87B $23.73B $23.73B $23.75B
Capital Stock $7.00M $7.00M $7.00M $7.00M $7.00M
-Common Stock $7.00M $7.00M $7.00M $7.00M $7.00M
Additional Paid-In Capital $7.01B $7.00B $6.98B $6.98B $6.97B
Retained Earnings $52.23B $48.86B $47.96B $47.96B $47.17B
Less: Treasury Stock $33.58B $31.29B $30.75B $30.75B $29.69B
Gains/Losses Not Affecting Retained Earnings -$673.00M -$712.00M -$469.00M -$469.00M -$708.00M
Minority Interests $3.27B $3.06B $2.88B $2.88B $2.99B
-Taxes Receivable $236.00M $236.00M
-Other Receivables $434.00M $434.00M
Investments and Advances $684.00M $684.00M
-Long Term Equity Investment $684.00M $684.00M
Non Current Accounts Receivables $347.00M $347.00M
Goodwill and Other Intangible Assets $383.00M $383.00M
-Goodwill $260.00M $260.00M
-Other Intangible Assets $123.00M $123.00M
Defined Pension Benefit $948.00M $948.00M
Non-Current Deferred Assets $2.75B $2.75B
-Current Capital Lease Obligation $419.00M $419.00M
Current Provisions $32.00M $32.00M
Current Deferred Liabilities $60.00M $60.00M
Non-Current Accrued Expenses $304.00M $304.00M
-Long Term Capital Lease Obligation $665.00M $665.00M
Non-Current Liabilities $625.00M $625.00M
Employee Benefits $423.00M $423.00M

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $5.58B $1.39B $5.83B $2.06B $1.88B
Net cash flow from continuing operations $5.58B $1.39B $5.83B $2.06B $1.88B
Net Income from Continuing Operations $4.07B $1.32B $2.25B $1.17B $1.07B
Depreciation & Depletion & Amortization $737.00M $840.00M $3.16B $817.00M $836.00M
Deferred Tax $129.00M -$397.00M -$197.00M $91.00M -$29.00M
Other Non-Cash Items $49.00M $51.00M -$13.00M
Change in Working Capital $592.00M -$426.00M -$499.00M -$7.00M -$218.00M
-Change in Receivables -$330.00M -$3.71B $1.13B $506.00M $731.00M
-Change in Inventory -$54.00M -$16.00M $362.00M -$167.00M $111.00M
-Change in Prepaid Assets -$114.00M -$71.00M $99.00M $48.00M -$47.00M
-Change in Payables and Accrued Expense $1.20B $3.49B -$1.78B -$736.00M -$470.00M
-Change in Other Current Liabilities -$98.00M -$82.00M -$136.00M
-Change In Other Working Capital -$16.00M -$41.00M -$171.00M $478.00M -$599.00M
Net cash flow from investing -$361.00M -$400.00M -$1.85B -$419.00M -$379.00M
Net Cash Flow from Continuing Investing Activities -$361.00M -$400.00M -$1.85B -$419.00M -$379.00M
Capital Expenditure -$226.00M -$165.00M -$796.00M -$220.00M -$177.00M
Net Business Purchase and Sale $0.00 $0.00 -$3.00M -$2.00M $0.00
Net Other Investing Changes -$135.00M -$235.00M -$1.05B -$194.00M -$208.00M
Financing Cash Flow -$3.03B $124.00M -$4.18B -$1.75B -$1.20B
Net Cash Flow from Continuing Financing Activities -$3.03B $124.00M -$4.18B -$1.75B -$1.20B
Net Issuance Payments Of Debt -$169.00M $875.00M -$94.00M -$180.00M -$73.00M
Net Common Stock Issuance -$2.26B -$573.00M -$2.60B -$1.06B -$922.00M
Cash Dividends Paid -$355.00M -$359.00M -$1.41B -$344.00M -$351.00M
Net Other Financing Charges -$246.00M $181.00M -$85.00M -$164.00M $147.00M
Ending Cash Balance $8.05B $5.91B $4.87B $4.87B $4.94B
Net Change in Cash $2.19B $1.11B -$201.00M -$114.00M $303.00M
Beginning Cash Balance $5.91B $4.87B $4.83B $4.94B $4.71B
Effect of Exchange Rate Changes -$44.00M -$67.00M $237.00M $38.00M -$74.00M
Free Cash Flow $5.35B $1.23B $5.03B $1.84B $1.70B
Net Investment Purchase and Sale $3.00M -$3.00M $2.00M
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