Stock research

Valero Energy Corporation (VLO) Stock Research

Valero Energy refines crude oil into fuels and produces renewable diesel and ethanol.

Valero Energy Corporation reported net income of $2.3B for the fiscal year ended December 31, 2025. Source: Form 10-K filed February 25, 2026

Reviewed · SEC data as of

Ticker
VLO
Exchange
NYSE
Sector
Energy
Founded
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About Valero Energy

Exchange
NYSE: VLO
Sector
Energy
SEC industry
Petroleum Refining (SIC 2911)
Fiscal year end
December 31

VLO key financials

Reported figures from Valero Energy Corporation's filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.

MetricValuePeriodSource
Net income$2.3B2025-01-01 – 2025-12-31SEC filing
Operating cash flow$5.8B2025-01-01 – 2025-12-31SEC filing
Diluted EPS$7.572025-01-01 – 2025-12-31SEC filing
Shares outstanding305MAs of 2025-10-17SEC filing

Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.

Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.

What investors should watch in VLO

For Valero Energy Corporation, the most important recurring operating and market variables are:

  • ◆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

Key questions for the VLO thesis

Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.

Crack spread cyclicality

Refining margins are driven by the spread between crude oil and refined-product prices, which can swing sharply with the economic cycle and refinery outages industry-wide. This is the single biggest driver of quarter-to-quarter earnings.

Renewable fuels investment

Track renewable diesel capacity growth and how RIN (Renewable Identification Number) compliance costs affect the economics of that expansion versus traditional refining.

Export exposure

Valero relies on international demand for a meaningful share of its refined-product exports, making it sensitive to shifts in global fuel demand and competing refinery capacity abroad.

Capital allocation

Compare buyback and dividend commitments against refinery maintenance capital and growth investment needs, since refining is a capital-intensive, cyclical business.

Does VLO's reported profit turn into cash?

Operating cash flow was $5.8B, 2.48 times net income of $2.3B, for the fiscal year ended December 31, 2025.

Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.

Form 10-K filed February 25, 2026

Members-only research

What members are reading this month

The thesis, the numbers behind it, and what would break it. Full access is $39 a month.

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Congressional trading in VLO

PoliticianTrade dateTypeOwnerAmountSource
Gilbert Cisneros2026-01-09SaleSelf$1,001 - $15,000Filing #20033983
Gilbert Cisneros2025-08-06SaleSelf$1,001 - $15,000Filing #20031022
Robert Bresnahan2025-05-15PurchaseSelf$1,001 - $15,000Filing #20030482
John Boozman2025-05-13SaleJoint$1,001 - $15,000Filing #7f1f888e-f759-4c18-8fbe-baf8f3488374
Robert Bresnahan2025-04-08SaleSelf$1,001 - $15,000Filing #20030238
Jefferson Shreve2025-04-07SaleSelf$15,001 - $50,000Filing #20030231
Jefferson Shreve2025-03-13PurchaseSelf$15,001 - $50,000Filing #20029038

All verified VLO congressional disclosures

Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.

VLO — frequently asked questions

What does Valero Energy Corporation do?

Valero Energy refines crude oil into fuels and produces renewable diesel and ethanol.

What were VLO's latest reported annual revenue and net income?

Valero Energy Corporation reported net income of $2.3B for the fiscal year ended December 31, 2025. The figures come from Valero Energy Corporation's SEC XBRL filings.

When does Valero Energy Corporation's fiscal year end?

The SEC lists Valero Energy Corporation's fiscal year end as December 31.

Do members of Congress trade VLO?

The current verified House and Senate snapshot contains 7 transaction rows for VLO, each linked to the original filing.

Is VLO a good investment?

This page does not rate VLO as a buy or sell. It sets out what Valero Energy Corporation reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.

This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.

What do the VLO numbers leave unanswered?

Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.

$39/mo or $249/yr · cancel future renewals anytime · sources included