Valero Energy Corporation (VLO) reported $153.33B of revenue for the twelve months ended Sep 30, 2026. That is up 24.6% from the year before. Revenue for fiscal 2025 was $122.69B.

Yes. Valero Energy Corporation earned $12.95B in net income for the twelve months ended Sep 30, 2026, a net margin of 8.4%.

How much cash and debt does VLO have?

Valero Energy Corporation reported $9.84B in cash and cash equivalents and $11.00B of debt on its most recent balance sheet in SEC filings.

How fast is VLO revenue growing?

Valero Energy Corporation's revenue changed -5.5% in fiscal 2025, to $122.69B. Its compound annual growth rate was +13.6% over 5 years.

What is VLO gross margin?

Valero Energy Corporation's gross profit was $18.83B on $153.33B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 12.3%.

What is VLO earnings per share?

Diluted earnings per share were $44.39 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did VLO last report financial results?

The latest statements here come from Valero Energy Corporation's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.

Financials · VLO

Valero Energy Corporation (VLO) financials

For the twelve months ended Sep 30, 2026, Valero Energy Corporation reported $153.33B of revenue and $12.95B of net income.

Revenue, TTM: $153.33B
Revenue growth, YoY: +24.6%
Net income, TTM: $12.95B
Net income growth, YoY: +765.9%
Net margin: 8.4%
EPS, diluted, TTM: $44.39
EPS growth, YoY: +807.8%
Cash: $9.84B
Total debt: $11.00B
P/E: 8.18
P/S: 0.69
Market cap: $105.93B

Annual revenue$122.69B

FY2016FY2025

Annual net income$2.35B

FY2016FY2025

Annual free cash flow$4.63B

FY2016FY2024

VLO revenue and earnings growth

VLO revenueQ3 2026$46.10B

Quarter YoY: +43.3%
QoQ: +3.6%
FY YoY: -5.5%
5Y CAGR: +13.6%

VLO revenue was $46.10B in fiscal Q3 2026 (ended Sep 30, 2026), up 43.3% from a year earlier and up 3.6% from the prior quarter. For the full fiscal 2025 it was $122.69B, down 5.5% from fiscal 2024. Compound annual growth was +13.6% over 5 years. It rose in 4 of the last 9 fiscal years.

VLO net incomeQ3 2026$6.83B

Quarter YoY: +523.6%
QoQ: +83.5%
FY YoY: -15.2%
10Y CAGR: -5.2%

VLO net income was $6.83B in fiscal Q3 2026 (ended Sep 30, 2026), up 523.6% from a year earlier and up 83.5% from the prior quarter. For the full fiscal 2025 it was $2.35B, down 15.2% from fiscal 2024. Compound annual growth was -5.2% over 10 years. It rose in 1 of the last 4 fiscal years.

VLO EPSQ3 2026$23.89

Quarter YoY: +576.8%
QoQ: +89.3%
FY YoY: -11.8%
10Y CAGR: -0.5%

VLO diluted EPS was $23.89 in fiscal Q3 2026 (ended Sep 30, 2026), up 576.8% from a year earlier and up 89.3% from the prior quarter. For the full fiscal 2025 it was $7.57, down 11.8% from fiscal 2024. Compound annual growth was -0.5% over 10 years.

VLO free cash flowQ3 2025$1.47B

Quarter YoY: +70.0%
QoQ: +178.3%
FY YoY: -36.7%
5Y CAGR: +11.5%
10Y CAGR: +8.3%

VLO free cash flow was $1.47B in fiscal Q3 2025 (ended Sep 30, 2025), up 70.0% from a year earlier and up 178.3% from the prior quarter. For the full fiscal 2024 it was $4.63B, down 36.7% from fiscal 2023. Compound annual growth was +11.5% over 5 years and +8.3% over 10 years. It rose in 1 of the last 3 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
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	-$740.00M	$4.78B	$5.59B	$4.50B	$4.35B
Selling, general and admin	$1.04B	$961.00M	$998.00M	$934.00M	$865.00M	$756.00M	$868.00M	$925.00M	$829.00M	$709.00M
Operating income	$3.18B	$3.75B	$11.86B	$15.69B	$2.13B	-$1.58B	$3.84B	$4.57B	$3.56B	$3.53B
Interest expense	$556.00M	$556.00M	$592.00M	$562.00M	$603.00M	$563.00M	$454.00M	$470.00M	$468.00M	$446.00M
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	$759.00M	$692.00M	$2.62B	$3.43B	$255.00M	-$903.00M	$702.00M	$879.00M	-$949.00M	$765.00M
Net income	$2.35B	$2.77B	$8.84B	$11.53B	$930.00M	-$1.42B	$2.42B	$3.12B	$4.07B	$2.29B
EPS, basic	$7.57	$8.58	$24.93	$29.05	$2.27	-$3.50	$5.84	$7.30	$9.17	$4.94
EPS, diluted	$7.57	$8.58	$24.92	$29.04	$2.27	-$3.50	$5.84	$7.29	$9.16	$4.94
Diluted shares	309.0M	322.0M	353.0M	396.0M	407.0M	407.0M	414.0M	428.0M	444.0M	464.0M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$4.69B	$4.83B	$5.42B	$4.86B	$4.12B	$3.31B	$2.58B	$2.98B	$5.85B	$4.82B
Receivables	$9.88B	$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
Current assets	$23.21B	$23.74B	$26.22B	$24.13B	$21.16B	$15.84B	$18.97B	$17.68B	$19.31B	$16.80B
Goodwill	$260.00M	$260.00M	$260.00M	$260.00M	$260.00M	$260.00M	$260.00M	$260.00M	$0	-
Total assets	$57.99B	$60.14B	$63.06B	$60.98B	$57.89B	$51.77B	$53.86B	$50.16B	$50.16B	$46.17B
Current liabilities	$14.11B	$15.49B	$16.80B	$17.46B	$16.85B	$9.28B	$13.16B	$10.72B	$11.07B	$8.33B
Short-term debt	$949.00M	$743.00M	$1.41B	$1.11B	$1.26B	$723.00M	$494.00M	$238.00M	$122.00M	$115.00M
Long-term debt	$9.67B	$9.72B	$10.12B	$10.53B	$12.61B	$13.95B	$9.18B	$8.87B	$8.75B	$7.89B
Total debt	$10.62B	$10.46B	$11.52B	$11.63B	$13.87B	$14.68B	$9.67B	$9.11B	$8.87B	$8.00B
Total liabilities	$31.38B	$32.62B	$34.53B	$35.51B	$38.07B	$32.13B	$31.33B	$27.42B	$27.26B	$25.32B
Shareholders' equity	$23.73B	$27.52B	$28.52B	$25.47B	$19.82B	$19.64B	$22.54B	$22.73B	$22.90B	$20.85B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$5.83B	$6.68B	$9.23B	$12.57B	$5.86B	$948.00M	$5.53B	$4.37B	$5.48B	$4.82B
Capital expenditures	-	$2.06B	$1.92B	$2.74B	$2.46B	$2.44B	$2.85B	$3.38B	$1.95B	$2.00B
Free cash flow	-	$4.63B	$7.31B	$9.84B	$3.40B	-$1.49B	$2.69B	$995.00M	$3.53B	$2.82B
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
Share repurchases	$2.60B	$2.88B	$5.14B	$4.58B	$27.00M	$156.00M	$777.00M	$1.71B	$1.37B	$1.34B
Stock-based compensation	$117.00M	$100.00M	$107.00M	$103.00M	$88.00M	$80.00M	$89.00M	$86.00M	$77.00M	$68.00M
Depreciation and amortization	$3.16B	$2.77B	$2.70B	$2.47B	$2.40B	$2.35B	$2.25B	$2.07B	$1.99B	$1.89B

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	-5.5%	-10.3%	-17.9%	54.8%	75.6%	-40.1%	-7.4%	24.5%	24.2%	-
Net income growth, YoY	-15.2%	-68.6%	-23.4%	1139.6%	-	-	-22.4%	-23.2%	77.6%	-42.6%
EPS growth, YoY	-11.8%	-65.6%	-14.2%	1179.3%	-	-	-19.9%	-20.4%	85.4%	-38.2%
Gross margin	4.4%	3.7%	8.9%	9.5%	2.7%	-1.1%	4.4%	4.8%	4.8%	5.7%
Operating margin	2.6%	2.9%	8.2%	8.9%	1.9%	-2.4%	3.5%	3.9%	3.8%	4.7%
Net margin	1.9%	2.1%	6.1%	6.5%	0.8%	-2.2%	2.2%	2.7%	4.3%	3.0%
Free cash flow margin	-	3.6%	5.1%	5.6%	3.0%	-2.3%	2.5%	0.9%	3.8%	3.7%
Return on equity	9.9%	10.1%	31.0%	45.3%	4.7%	-7.2%	10.7%	13.7%	17.8%	11.0%
Return on assets	4.0%	4.6%	14.0%	18.9%	1.6%	-2.7%	4.5%	6.2%	8.1%	5.0%
Current ratio	1.65	1.53	1.56	1.38	1.26	1.71	1.44	1.65	1.74	2.02
Debt to equity	0.45	0.38	0.40	0.46	0.70	0.75	0.43	0.40	0.39	0.38

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$46.10B	$44.48B	$32.38B	$30.37B	$32.17B	$29.89B	$30.26B	$30.76B	$32.88B	$34.49B	$31.76B	$35.41B
Cost of revenue	$36.69B	$39.01B	$30.33B	$28.47B	$30.40B	$28.64B	$29.75B	$30.13B	$32.12B	$33.05B	$29.78B	$33.54B
Gross profit	$9.41B	$5.47B	$2.05B	$1.90B	$1.77B	$1.25B	$507.00M	$629.00M	$754.00M	$1.44B	$1.98B	$1.87B
Selling, general and admin	$308.00M	$233.00M	$285.00M	$315.00M	$246.00M	$220.00M	$261.00M	$266.00M	$234.00M	$203.00M	$258.00M	$295.00M
Operating income	$9.07B	$5.20B	$1.73B	$1.57B	$1.51B	$997.00M	-$900.00M	$348.00M	$507.00M	$1.22B	$1.68B	$1.55B
Interest expense	$144.00M	$145.00M	$140.00M	$139.00M	$139.00M	$141.00M	$137.00M	$135.00M	$141.00M	$140.00M	$140.00M	$149.00M
Pre-tax income	$9.06B	$5.17B	$1.72B	$1.52B	$1.46B	$942.00M	-$917.00M	$323.00M	$489.00M	$1.20B	$1.68B	$1.55B
Income tax	$2.07B	$1.09B	$401.00M	$355.00M	$390.00M	$279.00M	-$265.00M	-$34.00M	$96.00M	$277.00M	$353.00M	$331.00M
Net income	$6.83B	$3.72B	$1.26B	$1.13B	$1.09B	$714.00M	-$595.00M	$281.00M	$364.00M	$880.00M	$1.25B	$1.20B
EPS, basic	$23.90	$12.62	$4.22	$3.65	$3.54	$2.28	-$1.90	$0.98	$1.14	$2.71	$3.75	$3.73
EPS, diluted	$23.89	$12.62	$4.22	$3.66	$3.53	$2.28	-$1.90	$0.98	$1.14	$2.71	$3.75	$3.74
Diluted shares	285.0M	294.0M	298.0M	-	309.0M	312.0M	314.0M	-	318.0M	324.0M	331.0M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$9.84B	$7.87B	$5.73B	$4.69B	$4.94B	$4.71B	$4.81B	$4.83B	$5.35B	$5.41B	$4.92B	$5.42B
Receivables	$14.75B	$13.93B	$13.41B	$9.88B	$10.33B	$11.07B	$11.24B	$9.73B	$11.07B	$13.14B	$12.15B	$11.04B
Inventory	$7.61B	$7.63B	$7.56B	$7.59B	$7.39B	$7.54B	$7.12B	$7.76B	$7.05B	$8.03B	$7.91B	$7.58B
Current assets	$33.56B	$30.67B	$27.82B	$23.21B	$23.50B	$23.80B	$23.59B	$23.74B	$23.98B	$27.11B	$25.67B	$26.22B
Goodwill	-	-	-	$260.00M	-	-	-	$260.00M	-	-	-	$260.00M
Total assets	$67.95B	$64.66B	$62.14B	$57.99B	$58.62B	$59.43B	$59.18B	$60.14B	$60.38B	$63.62B	$62.57B	$63.06B
Current liabilities	$19.47B	$18.74B	$17.65B	$14.11B	$14.73B	$14.68B	$15.14B	$15.49B	$15.30B	$18.32B	$16.15B	$16.80B
Short-term debt	$989.00M	$927.00M	$1.03B	$949.00M	$894.00M	$382.00M	$542.00M	$743.00M	$1.02B	$995.00M	$853.00M	$1.41B
Long-term debt	$10.01B	$10.42B	$10.46B	$9.67B	$9.69B	$10.27B	$10.31B	$9.72B	$9.79B	$9.75B	$10.04B	$10.12B
Total debt	$11.00B	$11.35B	$11.49B	$10.62B	$10.58B	$10.65B	$10.85B	$10.46B	$10.81B	$10.74B	$10.90B	$11.52B
Total liabilities	$36.87B	$36.40B	$35.21B	$31.38B	$31.87B	$32.49B	$32.86B	$32.62B	$32.38B	$35.37B	$33.75B	$34.53B
Shareholders' equity	$27.97B	$28.27B	$26.93B	$23.73B	$26.75B	$26.95B	$26.32B	$27.52B	$28.00B	$28.25B	$28.82B	$28.52B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$6.93B	$5.58B	$1.39B	$2.06B	$1.88B	$936.00M	$952.00M	$1.07B	$1.29B	$2.47B	$1.85B	$1.24B
Capital expenditures	-	-	-	-	$409.00M	$407.00M	$659.00M	$547.00M	$429.00M	$420.00M	$661.00M	-
Free cash flow	-	-	-	-	$1.47B	$529.00M	$293.00M	$523.00M	$866.00M	$2.05B	$1.19B	-
Investing cash flow	-$419.00M	-$361.00M	-$400.00M	-$419.00M	-$379.00M	-$412.00M	-$635.00M	-$544.00M	-$408.00M	-$392.00M	-$637.00M	-$483.00M
Financing cash flow	-$4.53B	-$3.03B	$124.00M	-$1.75B	-$1.20B	-$849.00M	-$382.00M	-$784.00M	-$1.07B	-$1.55B	-$1.64B	-$1.30B
Dividends paid	$345.00M	$355.00M	$359.00M	$344.00M	$351.00M	$354.00M	$356.00M	$339.00M	$342.00M	$347.00M	$356.00M	$346.00M
Share repurchases	$3.36B	$2.26B	$573.00M	$1.06B	$922.00M	$338.00M	$274.00M	$259.00M	$560.00M	$1.03B	$1.02B	$956.00M
Depreciation and amortization	$15.00M	$14.00M	$840.00M	$817.00M	$12.00M	$28.00M	$691.00M	$698.00M	$10.00M	$12.00M	$695.00M	$690.00M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	43.3%	48.8%	7.0%	-1.2%	-2.2%	-13.3%	-4.7%	-13.2%	-14.4%	-0.1%	-12.8%	-15.2%
Net income growth, YoY	523.6%	421.0%	-	303.6%	200.8%	-18.9%	-	-76.6%	-86.1%	-54.7%	-59.4%	-61.4%
EPS growth, YoY	576.8%	453.5%	-	273.5%	209.6%	-15.9%	-	-73.8%	-84.8%	-49.8%	-54.8%	-53.7%
Gross margin	20.4%	12.3%	6.3%	6.3%	5.5%	4.2%	1.7%	2.0%	2.3%	4.2%	6.2%	5.3%
Operating margin	19.7%	11.7%	5.3%	5.2%	4.7%	3.3%	-3.0%	1.1%	1.5%	3.5%	5.3%	4.4%
Net margin	14.8%	8.4%	3.9%	3.7%	3.4%	2.4%	-2.0%	0.9%	1.1%	2.6%	3.9%	3.4%
Free cash flow margin	-	-	-	-	4.6%	1.8%	1.0%	1.7%	2.6%	5.9%	3.7%	-
Current ratio	1.72	1.64	1.58	1.65	1.60	1.62	1.56	1.53	1.57	1.48	1.59	1.56
Debt to equity	0.39	0.40	0.43	0.45	0.40	0.40	0.41	0.38	0.39	0.38	0.38	0.40

Source: XBRL data Valero Energy Corporation files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VLO peers

Company	Revenue	Growth	Net income	Net margin	Market cap
VLO	$153.33B	+24.6%	$12.95B	8.4%	$105.93B
MPCMarathon Petroleum Corporation	$174.80B	+31.2%	$14.63B	8.4%	$112.90B
PSXPhillips 66	$168.19B	+27.5%	$12.58B	7.5%	$103.33B
DINOHF Sinclair Corporation	$34.83B	-28.9%	$3.53B	10.1%	$17.51B
PBFPBF Energy Inc.	$38.85B	+31.5%	$2.71B	7.0%	$8.65B
CVICVR Energy Inc.	$9.81B	+34.4%	$346.00M	3.5%	$4.61B
DKDelek US Holdings Inc.	$13.56B	+27.1%	$1.18B	8.7%	$4.15B

VLO FAQ

8 questions

What is VLO revenue?
Valero Energy Corporation (VLO) reported $153.33B of revenue for the twelve months ended Sep 30, 2026. That is up 24.6% from the year before. Revenue for fiscal 2025 was $122.69B.
Is VLO profitable?
Yes. Valero Energy Corporation earned $12.95B in net income for the twelve months ended Sep 30, 2026, a net margin of 8.4%.
How much cash and debt does VLO have?
Valero Energy Corporation reported $9.84B in cash and cash equivalents and $11.00B of debt on its most recent balance sheet in SEC filings.
How fast is VLO revenue growing?
Valero Energy Corporation's revenue changed -5.5% in fiscal 2025, to $122.69B. Its compound annual growth rate was +13.6% over 5 years.
What is VLO gross margin?
Valero Energy Corporation's gross profit was $18.83B on $153.33B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 12.3%.
What is VLO earnings per share?
Diluted earnings per share were $44.39 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did VLO last report financial results?
The latest statements here come from Valero Energy Corporation's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
Where does this VLO financial data come from?
Quantisnow builds these statements from the structured XBRL data Valero Energy Corporation files with the SEC. It is provided for information only and is not investment advice.