Valero Energy Corporation
EnergyNYSE:VLO · New York Stock Exchange
+$4.47 today
Vol 1.22M · Avg 3.47M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$126.2B of revenue converted into $4.2B of net income for the selected period. Gross margin is 7.2% and net margin is 3.3%, showing how much revenue survives after costs and taxes. EPS is $13.77, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $122.7B -5.5% | $129.9B -10.3% | $144.8B -17.9% | $176.4B +54.8% | $114.0B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $117.3B -6.2% | $125.1B -5.1% | $131.9B -17.4% | $159.6B +43.9% | $110.9B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $5.4B +12.8% | $4.8B -63.1% | $12.9B -23.1% | $16.8B +443.5% | $3.1B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 4.4% +0.7pp | 3.7% -5.2pp | 8.9% -0.6pp | 9.5% +6.8pp | 2.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $1.0B +8.4% | $961.0M -3.7% | $998.0M +6.9% | $934.0M +8.0% | $865.0M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $1.1B +5.2% | $1.0B -2.5% | $1.0B -2.8% | $1.1B +11.4% | $952.0M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $3.2B +13.8% | $2.8B +2.7% | $2.7B +9.2% | $2.5B +2.8% | $2.4B | $374.2M | $1.2B | $631.8M |
| EBITDA | $6.7B -4.4% | $7.0B -52.1% | $14.7B -20.1% | $18.3B +303.0% | $4.6B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 5.5% +0.1pp | 5.4% -4.7pp | 10.1% -0.3pp | 10.4% +6.4pp | 4.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $4.3B +14.8% | $3.8B -68.3% | $11.9B -24.4% | $15.7B +636.6% | $2.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 3.5% +0.6pp | 2.9% -5.3pp | 8.2% -0.7pp | 8.9% +7.0pp | 1.9% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 -100.0% | $293.0M | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $556.0M +0.0% | $556.0M -6.1% | $592.0M +5.3% | $562.0M -6.8% | $603.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$1.3B -2193.0% | -$57.0M +36.7% | -$90.0M +76.5% | -$383.0M +34.8% | -$587.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $3.0B -18.7% | $3.7B -68.6% | $11.8B -23.1% | $15.3B +892.0% | $1.5B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 2.4% -0.4pp | 2.8% -5.3pp | 8.1% -0.5pp | 8.7% +7.3pp | 1.4% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $759.0M +9.7% | $692.0M -73.6% | $2.6B -23.6% | $3.4B +1244.3% | $255.0M | $1.3B | -$1.6B | $745.2M |
| Net Income | $2.3B -15.2% | $2.8B -68.6% | $8.8B -23.4% | $11.5B +1139.6% | $930.0M | $4.9B | $4.8B | $4.7B |
| Net Margin | 1.9% -0.2pp | 2.1% -4.0pp | 6.1% -0.4pp | 6.5% +5.7pp | 0.8% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $8 -11.8% | $9 -65.6% | $25 -14.2% | $29 +1181.1% | $2 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $8 -11.8% | $9 -65.6% | $25 -14.0% | $29 +1177.5% | $2 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $309.0M -4.0% | $322.0M -8.8% | $353.0M -10.6% | $395.0M -2.9% | $407.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $309.0M -4.0% | $322.0M -8.8% | $353.0M -10.9% | $396.0M -2.7% | $407.0M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
SLB N.V.
NYSE:SLB
$84.39B
Eni S.p.A.
NYSE:E
$78.62B
Marathon Petroleum Corporation
NYSE:MPC
$77.24B
EOG Resources, Inc.
NYSE:EOG
$73.30B
TC Energy Corporation
NYSE:TRP
$72.44B
Suncor Energy Inc.
NYSE:SU
$72.41B
Phillips 66
NYSE:PSX
$72.21B
Kinder Morgan, Inc.
NYSE:KMI
$71.02B
Energy Transfer LP
NYSE:ET
$65.33B
MPLX Lp
NYSE:MPLX
$57.23B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does VLO generate?
Valero Energy Corporation (VLO) reported $122.69B of revenue in fiscal 2025.
Is VLO profitable?
Valero Energy Corporation (VLO) reported $2.35B of net income, with a net margin of 1.9%.
Explore More
Continue the stock analysis
Jump to another research area for this company.