Valero Energy Corporation (VLO) Income Statement Analysis

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Complete financial analysis of Valero Energy Corporation (VLO) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Valero Energy Corporation, a leading company in the Oil & Gas Refining & Marketing industry within the Energy sector.

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Valero Energy Corporation (VLO)

Industry: Oil & Gas Refining & Marketing

Sector: Energy

Website: https://www.valero.com

About Valero Energy Corporation

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids. As of December 31, 2021, the company owned 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day; and 12 ethanol plants with a combined ethanol production capacity of approximately 1.6 billion gallons per year. It sells its refined products through wholesale rack and bulk markets; and through approximately 7,000 outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brands. The company also produces and sells ethanol, dry distiller grains, syrup, and inedible corn oil primarily to animal feed customers. In addition, it owns and operates crude oil and refined petroleum products pipelines, terminals, tanks, marine docks, truck rack bays, and other logistics assets; and owns and operates a plant that processes animal fats, used cooking oils, and inedible distillers corn oils into renewable diesel. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997. Valero Energy Corporation was founded in 1980 and is headquartered in San Antonio, Texas.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	144.80B	176.38B	113.98B	64.91B	108.32B	117.03B	93.98B	75.66B	87.80B	130.84B	138.07B	139.25B	125.99B	82.23B	68.14B	119.11B	95.33B	91.83B	82.16B	54.62B	37.97B	26.98B	14.99B	14.67B	7.96B	5.54B	5.76B	4.99B	3.02B	1.84B	1.22B	1.23B	1.01B	1.17B	941.30M	770.60M	628.50M	1.88B	2.66B
Cost of Revenue	131.87B	159.63B	110.90B	65.70B	103.60B	111.49B	89.49B	71.32B	80.74B	124.22B	133.35B	133.53B	121.74B	74.46B	65.27B	111.98B	85.66B	81.27B	74.60B	49.94B	35.24B	25.13B	13.68B	13.76B	7.68B	5.44B	5.43B	4.57B	2.62B	1.61B	1.07B	1.05B	740.60M	885.00M	837.20M	698.20M	652.50M	1.65B	2.34B
Gross Profit	12.93B	16.75B	3.08B	-788.00M	4.73B	5.54B	4.50B	4.34B	7.07B	6.63B	4.72B	5.72B	4.25B	7.78B	2.87B	7.13B	9.67B	10.57B	7.56B	4.68B	2.73B	1.85B	1.30B	914.54M	276.60M	96.90M	329.80M	421.00M	402.20M	228.30M	155.00M	182.20M	271.20M	283.90M	104.10M	72.40M	-24.00M	228.00M	324.00M
Gross Profit Ratio	8.93%	9.50%	2.70%	-1.21%	4.36%	4.74%	4.78%	5.74%	8.05%	5.06%	3.42%	4.11%	3.37%	9.45%	4.22%	5.99%	10.14%	11.50%	9.20%	8.57%	7.18%	6.86%	8.70%	6.23%	3.47%	1.75%	5.73%	8.44%	13.32%	12.43%	12.68%	14.76%	26.80%	24.29%	11.06%	9.40%	-3.82%	12.13%	12.17%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	998.00M	934.00M	865.00M	756.00M	868.00M	925.00M	835.00M	715.00M	710.00M	724.00M	758.00M	698.00M	571.00M	531.00M	572.00M	559.00M	598.00M	598.00M	458.00M	378.80M	299.40M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	702.00M	768.00M	719.00M	803.00M	771.00M	704.70M	693.60M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	998.00M	934.00M	865.00M	756.00M	868.00M	925.00M	835.00M	715.00M	710.00M	724.00M	758.00M	698.00M	571.00M	531.00M	1.27B	1.33B	1.39B	1.40B	1.23B	1.08B	993.00M	929.40M	165.22M	130.51M	68.50M	69.50M	53.60M	81.70M	78.10M	0.00	0.00	0.00	115.30M	113.90M	0.00	0.00	0.00	127.80M	127.80M
Other Expenses	33.00M	66.00M	87.00M	35.00M	21.00M	130.00M	76.00M	56.00M	46.00M	47.00M	59.00M	9.00M	43.00M	5.37B	2.04B	3.23B	2.31B	2.38B	1.70B	1.06B	962.40M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	1.03B	1.00B	952.00M	791.00M	889.00M	970.00M	896.00M	715.00M	710.00M	724.00M	758.00M	698.00M	571.00M	5.90B	2.70B	6.57B	2.75B	2.56B	2.10B	1.70B	1.50B	1.38B	302.96M	303.56M	207.50M	148.20M	118.80M	220.10M	213.40M	102.40M	79.50M	48.20M	151.90M	149.50M	34.40M	33.70M	33.30M	285.90M	193.80M
Cost & Expenses	132.91B	160.63B	111.85B	66.49B	104.49B	112.46B	90.38B	72.03B	81.45B	124.94B	134.11B	134.23B	122.31B	80.36B	67.97B	118.55B	88.41B	83.82B	76.70B	51.64B	36.75B	26.51B	13.99B	14.06B	7.89B	5.59B	5.55B	4.79B	2.83B	1.71B	1.15B	1.10B	892.50M	1.03B	871.60M	731.90M	685.80M	1.94B	2.53B
Interest Income	293.00M	223.00M	171.00M	52.00M	454.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	592.00M	562.00M	603.00M	563.00M	454.00M	470.00M	468.00M	446.00M	433.00M	397.00M	365.00M	313.00M	401.00M	484.00M	408.00M	347.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	2.70B	2.47B	2.41B	2.35B	2.26B	2.07B	1.99B	1.89B	1.84B	1.69B	1.72B	1.57B	1.53B	1.41B	1.53B	1.48B	1.38B	1.16B	875.00M	618.40M	510.50M	449.30M	252.35M	173.06M	139.00M	78.70M	65.20M	138.40M	135.30M	102.40M	79.50M	48.20M	36.60M	35.60M	34.40M	33.70M	33.30M	158.10M	66.00M
EBITDA	14.66B	18.34B	4.55B	904.00M	6.14B	6.67B	5.59B	5.52B	8.20B	7.59B	5.71B	6.63B	5.26B	3.39B	1.63B	2.15B	8.29B	8.88B	6.14B	3.59B	1.73B	920.20M	1.25B	784.04M	208.10M	27.40M	276.20M	144.90M	180.90M	228.30M	155.00M	182.20M	155.90M	170.00M	104.10M	72.40M	-24.00M	100.20M	196.20M
EBITDA Ratio	10.12%	9.03%	1.88%	-2.23%	3.64%	4.02%	3.91%	4.87%	7.29%	4.55%	2.91%	3.61%	2.96%	3.99%	2.49%	4.78%	8.53%	9.60%	7.64%	6.67%	4.37%	3.38%	8.40%	5.34%	2.53%	0.48%	4.68%	6.64%	10.48%	12.76%	10.24%	12.51%	11.49%	12.04%	9.57%	6.92%	-23.75%	5.82%	5.14%
Operating Income	11.86B	15.69B	2.13B	-1.58B	3.84B	4.57B	3.60B	3.57B	6.36B	5.90B	3.96B	4.01B	3.68B	1.88B	-58.00M	563.00M	6.92B	8.01B	5.46B	2.98B	1.22B	470.90M	1.00B	610.98M	69.10M	-51.30M	211.00M	200.90M	188.80M	125.90M	75.50M	134.00M	119.30M	134.40M	69.70M	38.70M	-57.30M	-57.90M	130.20M
Operating Income Ratio	8.19%	8.90%	1.87%	-2.43%	3.54%	3.91%	3.83%	4.72%	7.24%	4.51%	2.87%	2.88%	2.92%	2.28%	-0.09%	0.47%	7.26%	8.72%	6.64%	5.45%	3.22%	1.75%	6.68%	4.16%	0.87%	-0.93%	3.67%	4.03%	6.25%	6.85%	6.18%	10.85%	11.79%	11.50%	7.40%	5.02%	-9.12%	-3.08%	4.89%
Total Other Income/Expenses	-90.00M	-383.00M	-587.00M	-431.00M	-350.00M	-340.00M	-356.00M	-352.00M	-387.00M	-350.00M	19.00M	-304.00M	-358.00M	-378.00M	-391.00M	-227.00M	-192.00M	176.00M	19.00M	-269.10M	-235.40M	-321.20M	-106.49M	-82.76M	-48.90M	-31.80M	-35.40M	23.80M	-35.00M	-83.10M	-7.30M	-2.60M	27.10M	11.20M	-10.40M	-4.30M	80.60M	-123.90M	-63.80M
Income Before Tax	11.77B	15.31B	1.54B	-2.01B	3.49B	4.23B	3.21B	3.18B	5.97B	5.55B	3.98B	3.71B	3.32B	1.50B	-449.00M	336.00M	6.73B	8.19B	5.29B	2.71B	986.60M	149.70M	894.85M	528.22M	20.20M	-83.10M	175.60M	113.70M	95.10M	42.80M	68.20M	131.40M	146.40M	145.60M	59.30M	34.40M	23.30M	-181.80M	66.40M
Income Before Tax Ratio	8.13%	8.68%	1.35%	-3.10%	3.22%	3.62%	3.41%	4.21%	6.80%	4.24%	2.88%	2.66%	2.64%	1.82%	-0.66%	0.28%	7.06%	8.92%	6.43%	4.96%	2.60%	0.55%	5.97%	3.60%	0.25%	-1.50%	3.05%	2.28%	3.15%	2.33%	5.58%	10.64%	14.47%	12.46%	6.30%	4.46%	3.71%	-9.67%	2.49%
Income Tax Expense	2.62B	3.43B	255.00M	-903.00M	702.00M	879.00M	-949.00M	765.00M	1.87B	1.78B	1.25B	1.63B	1.23B	575.00M	-97.00M	1.47B	2.16B	2.73B	1.70B	906.30M	365.10M	58.20M	331.30M	189.10M	5.90M	-35.80M	63.80M	41.00M	35.30M	15.90M	31.80M	47.50M	47.70M	50.90M	17.80M	3.80M	-8.60M	-81.90M	31.70M
Net Income	8.84B	11.53B	1.29B	-1.11B	2.42B	3.12B	4.07B	2.29B	3.99B	3.63B	2.72B	2.08B	2.09B	324.00M	-1.98B	-1.13B	5.23B	5.46B	3.59B	1.80B	621.50M	91.50M	563.55M	339.12M	14.30M	-47.30M	96.10M	72.70M	59.80M	26.90M	36.40M	83.90M	98.70M	94.70M	41.50M	30.60M	17.60M	-99.90M	34.70M
Net Income Ratio	6.10%	6.54%	1.13%	-1.71%	2.24%	2.67%	4.33%	3.03%	4.54%	2.77%	1.97%	1.50%	1.66%	0.39%	-2.91%	-0.95%	5.49%	5.95%	4.37%	3.30%	1.64%	0.34%	3.76%	2.31%	0.18%	-0.85%	1.67%	1.46%	1.98%	1.46%	2.98%	6.80%	9.75%	8.10%	4.41%	3.97%	2.80%	-5.31%	1.30%
EPS	24.95	29.08	3.16	-2.72	5.85	7.33	9.17	4.94	8.00	6.88	4.99	3.77	3.69	0.57	-3.66	-2.16	9.27	8.94	6.51	3.51	1.34	0.21	2.32	1.45	0.06	-0.21	0.44	0.35	0.28	0.05	0.21	0.49	0.57	0.58	0.25	0.14	0.06	-1.00	0.27
EPS Diluted	24.95	29.00	3.16	-2.72	5.85	7.29	9.16	4.94	7.99	6.85	4.97	3.75	3.68	0.57	-3.66	-2.16	8.88	8.64	6.10	3.27	1.27	0.21	2.21	1.40	0.06	-0.21	0.44	0.35	0.28	0.05	0.21	0.49	0.57	0.58	0.24	0.14	0.06	-1.00	0.27
Weighted Avg Shares Out	353.00M	395.00M	407.00M	407.00M	413.00M	426.00M	442.00M	461.00M	497.00M	526.00M	542.00M	550.00M	563.00M	563.00M	541.00M	524.00M	565.00M	611.00M	549.00M	510.00M	459.00M	422.40M	242.80M	234.13M	224.34M	224.31M	206.78M	239.71M	386.18M	386.67M	171.22M	169.90M	162.63M	151.69M	115.10M	104.44M	103.33M	100.37M	93.58M
Weighted Avg Shares Out (Dil)	353.00M	396.00M	407.00M	407.00M	413.00M	428.00M	444.00M	464.00M	500.00M	530.00M	548.00M	556.00M	569.00M	568.00M	541.00M	524.00M	579.00M	632.00M	588.00M	552.00M	488.00M	435.71M	255.20M	242.10M	227.03M	224.31M	210.34M	239.71M	386.18M	386.67M	171.22M	169.90M	162.63M	151.69M	118.74M	104.44M	103.33M	100.37M	93.58M

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