Expand Energy Corporation (EXE)
Expand Energy is one of the largest US natural-gas producers, operating across major shale basins.
EXE vs VLO: how the two businesses compare
Expand Energy (EXE) and Valero Energy (VLO) do not both have comparable annual revenue in the SEC XBRL snapshot, so this comparison rests on business descriptions, classifications, and filings. The SEC classifies them differently (Crude Petroleum & Natural Gas; Petroleum Refining); what connects them is shared exposure to the Economic trends research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Energy
- Different
- Separate classifications
- December 31
- Same calendar
- Feb 25, 2026
EXE vs VLO: quick comparison
| Company fact | EXE | VLO |
|---|---|---|
| Company | Expand Energy Corporation | Valero Energy Corporation |
| Exchange | NASDAQ | NYSE |
| SEC industry | Crude Petroleum & Natural Gas | Petroleum Refining |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-18 | 10-K · 2026-02-25 |
Where EXE and VLO overlap, and where they don't
Overlap
- Shared research theme: Economic trends.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: EXE files as Crude Petroleum & Natural Gas; VLO as Petroleum Refining.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Valero Energy Corporation (VLO)
Valero Energy refines crude oil into fuels and produces renewable diesel and ethanol.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves EXE
We have not yet published a company-specific driver list for EXE. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-18.
What moves VLO
- Refining crack spreads and utilization rates across its refinery network
- Renewable diesel and ethanol segment growth
- Export demand for gasoline and diesel from its refineries
- Regulatory compliance costs, including RINs tied to renewable-fuel obligations
The investment question
You now know how EXE and VLO are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, including “Refining crack spreads and utilization rates across its refinery network” at VLO, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 7 matched transaction rows for EXE and 7 matched transaction rows for VLO. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
EXE primary filings
VLO primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving EXE or VLO
EXE vs VLO FAQs
Are EXE and VLO direct competitors?
Not necessarily. Expand Energy files as Crude Petroleum & Natural Gas and Valero Energy as Petroleum Refining. The pair is compared because both map to the Economic trends research theme, not because the filings show head-to-head competition.
Which is better, EXE or VLO?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this EXE vs VLO comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Expand Energy Corporation and Valero Energy Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
EXE vs VLO compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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