Income StatementBalance SheetCash FlowSegments
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Valero Energy Income Statement

Revenue, expenses, and profitability over time

Valero Energy generated $124.81B in trailing twelve-month revenue, down 0.0% year-over-year. Net income was $4.2B with a 3.37% net margin. Gross margin stands at 5.59% and operating margin at 4.66%. Diluted EPS is $13.71, which grew 3.8% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$124.81BGross Profit (TTM)$7.0BOperating Income (TTM)$5.8BNet Income (TTM)$4.2BEps Diluted (TTM)$13.71
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$73.3B
P/E Ratio17.43
ROE17.76%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Weighted Average Diluted Shares Adjustment—$0.0$0.0$0.0—$0.0
Common stock dividends per share cash paid—$1.1$1.1$1.1—$1.2
Earnings Allocated to Participating Securities—$1.0M$2.0M$3.0M—$4.0M
Dividends Per Share, Cash Paid—$1.1$1.1$1.1—$1.2
Common Stock Dividends Per Share Cash Paid—$1.1$1.1$1.1—$1.2
Basic earnings per share$0.92$-1.90$2.28$3.54$3.68$4.22
Diluted earnings per share$0.92$-1.90$2.28$3.53$3.68$4.22
Common Stock Dividends Per Share (Cash Paid)—$1.1$1.1$1.1—$1.2
Weighted Average Diluted Shares Adjustment—$0.0$0.0$0.0—$0.0
Dividends per common share—$1.1$1.1$1.1—$1.2
Dividends per share, cash paid—$1.13$1.13$1.13—$1.20
Dividends Per Share (Paid)—$1.1$1.1$1.1—$1.2
Common Stock Dividends Per Share (Cash Paid)—$1.1$1.1$1.1—$1.2
Common stock dividends per share cash paid—$1.1$1.1$1.1—$1.2
Common stock dividends per share cash paid—$1.1$1.1$1.1—$1.2
Weighted average number diluted shares outstanding adjustment—$0.0$0.0$0.0—$0.0
Weighted-average shares, basic—314M312M309M—298M
Weighted-average shares, diluted—314M312M309M—298M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share (Paid)—$1.1$1.1$1.1—$1.2
Common stock dividends per share cash paid—$1.1$1.1$1.1—$1.2
Comprehensive Income Including Noncontrolling Interest—-$487.0M$1.2B$915.0M—$1.0B
OCI Attributable to Noncontrolling Interest—-$55.0M-$51.0M-$25.0M—-$6.0M
Reclassifications Net of Tax—-$596.0M$712.0M$1.1B—$1.3B
Common Stock Dividends Per Share (Cash Paid)—$1.1$1.1$1.1—$1.2
Comprehensive Income Attributable to Parent—-$487.0M$1.2B$915.0M—$1.0B
OCI Foreign Currency Before Reclassification and Tax—$162.0M$564.0M-$157.0M—-$194.0M
Change in Income Taxes Payable—-$3.0M-$113.0M$235.0M—$422.0M
Change in Inventories—-$693.0M—-$111.0M—$16.0M
Change in Prepaid Expenses and Other Assets—-$63.0M-$35.0M——$71.0M
Contributions from Noncontrolling Interests—$0.0$97.0M$148.0M—$190.0M
Finance Lease Interest Paid—$29.0M$28.0M$27.0M—$29.0M
Finance Lease Principal Paid—$65.0M$64.0M$67.0M—$61.0M
Effect of Exchange Rate on Cash (Continuing Operations)—$43.0M$230.0M——-$67.0M
Net Change in Cash and Restricted Cash—-$22.0M-$95.0M$229.0M—$1.0B
Operating Lease Payments—$127.0M$134.0M$133.0M—$138.0M
ROU Asset Obtained - Finance Lease—$10.0M$8.0M$4.0M—$0.0
ROU Asset Obtained - Operating Lease—$100.0M$166.0M$91.0M—$118.0M
Common Dividends Per Share Paid—$1.1$1.1$1.1—$1.2
Cash Dividend per Common Share—$1.1$1.1$1.1—$1.2
Comprehensive Income Including Noncontrolling Interest—-$487.0M$1.2B$915.0M—$1.0B
Number of reportable segments—3.00———3.00
Other comprehensive income (loss), after-tax—$165.0M$556.0M-$151.0M—-$308.0M
Other investing activities, net—-$25.0M—-$28.0M—-$48.0M
Income Taxes Paid, Net—$35.0M$248.0M$115.0M—$63.0M
Interest Paid, Net—$84.0M$179.0M$99.0M—$96.0M
OCI Foreign Currency Gain (Loss) Before Reclassification and Tax—$162.0M$564.0M-$157.0M—-$194.0M
Comprehensive income (loss), including noncontrolling interest—-$487.0M$1.2B$915.0M—$1.0B
Share-based compensation expense related to employee stock plans—$37.0M$13.0M$18.0M—$48.0M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—-$432.0M$1.3B$940.0M—$1.0B
Less: comprehensive income attributable to noncontrolling interest—-$55.0M-$51.0M-$25.0M—-$6.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—-$487.0M$1.2B$915.0M—$1.0B
Overhead expenses$1.5B$1.5B$1.5B$1.6B$1.7B$1.6B
Deferred and other income taxes-$9.0M-$324.0M—-$29.0M—-$397.0M
Depreciation, Amortization and Accretion, Net$698.0M$691.0M$814.0M$836.0M$817.0M$840.0M
Finance Lease Principal Payments—$65.0M$64.0M$67.0M—$61.0M
Impairment Of Long Lived Assets Held For Use$0.0$1.1B$0.0$0.0$0.0$0.0
Income Taxes Paid, Net—$35.0M$248.0M$115.0M—$63.0M
Accounts payable—-$42.0M-$571.0M-$825.0M—$3.3B
Increase Decrease In Accrued Income Taxes Payable—-$3.0M-$113.0M$235.0M—$422.0M
Accrued liabilities—-$13.0M$125.0M$152.0M—-$102.0M
Increase (Decrease) in Inventories—-$693.0M—-$111.0M—$16.0M
Increase (Decrease) In Operating Capital, Current$0.0-$157.0M$325.0M-$325.0M$349.0M$303.0M
Increase (decrease) in all other liabilities$74.0M$3.0M———-$82.0M
Increase (Decrease) in Prepaid Expense and Other Assets—-$63.0M-$35.0M——$71.0M
Taxes other than income taxes payable—-$84.0M$129.0M——-$139.0M
Interest Costs Capitalized Adjustment—$5.0M$5.0M$5.0M—$6.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$84.0M$179.0M$99.0M—$96.0M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders—$129.0M$2.0M———
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$784.0M-$382.0M-$849.0M-$1.2B-$1.8B$124.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$544.0M-$635.0M-$412.0M-$379.0M-$419.0M-$400.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.1B$952.0M$936.0M$1.9B$2.1B$1.4B
Net Income Loss Attributable To Noncontrolling Interest—-$57.0M-$51.0M-$29.0M—$59.0M
Number of reportable segments—$3.0———$3.0
Operating Lease Payments—$127.0M$134.0M$133.0M—$138.0M
Other comprehensive income (loss)—$165.0M$556.0M-$151.0M—-$308.0M
Tax expense (benefit)—$1.0M$9.0M-$2.0M—-$19.0M
Other income, net (Note 6)$110.0M$120.0M$86.0M$86.0M$88.0M$132.0M
All other operating activities$119.5M$20.0M———$51.0M
Earnings allocated to participating share awards—$1.0M$2.0M$3.0M—$4.0M
Participating Securities Distributed And Undistributed Earnings Loss Diluted—$1.0M$2.0M$3.0M—$4.0M
Payment for (Proceeds from) Other Investing Activity-$13.0M-$25.0M—-$28.0M—-$48.0M
Payments for Repurchase of Common Stock$259.0M$274.0M$338.0M$922.0M$1.1B$573.0M
Payments of Ordinary Dividends, Common Stock$339.0M$356.0M$354.0M$351.0M$344.0M$359.0M
Payments To Acquire Interest In Joint Venture—$1.0M———$0.0
Proceeds from Noncontrolling Interests—$0.0$97.0M$148.0M$83.0M$190.0M
Financing — other$0.0-$6.0M$0.0-$1.0M-$9.0M-$9.0M
Right Of Use Asset Obtained In Exchange For Finance Lease Liability—$10.0M$8.0M$4.0M—$0.0
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$100.0M$166.0M$91.0M—$118.0M
Property, plant, and equipment additions—$659.0M———$448.0M
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture—$1.0M$0.0$0.0—$0.0
Taxes other than income taxes$1.5B$1.5B———$1.7B
Treasury stock, value, acquired—$272.0M$341.0M$931.0M—$564.0M
Add: dilutive effect of potential common shares (in shares)—$0.0$0.0$0.0—$0.0
Comprehensive Income (Loss), Total—-$487.0M$1.2B$915.0M—$1.0B
Foreign Currency Translation Adjustments, Net—$162.0M$564.0M-$157.0M—-$194.0M
Other Comprehensive Income (Loss), Before Tax—$166.0M$565.0M-$153.0M—-$327.0M
OCI Cash Flow Hedge After Reclassification Before Tax—$3.0M-$3.0M$8.0M—-$129.0M
Cash Dividends, Common Stock$339.0M$356.0M$354.0M$351.0M$344.0M$359.0M
Comprehensive Income Attributable to Noncontrolling Interests—-$55.0M-$51.0M-$25.0M—-$6.0M
Comprehensive Income, Including Noncontrolling Interest—-$487.0M$1.2B$915.0M—$1.0B
Other Comprehensive Income (Loss)—-$432.0M$1.3B$940.0M—$1.0B
Other Comprehensive Income Tax—$1.0M$9.0M-$2.0M—-$19.0M
Comprehensive Income Including Noncontrolling Interest—-$487.0M$1.2B$915.0M—$1.0B
Total Comprehensive Income—-$487.0M$1.2B$915.0M—$1.0B
Comprehensive Income, Noncontrolling Interest—-$55.0M-$51.0M-$25.0M—-$6.0M
OCI Foreign Currency Gain (Loss), Pre-tax—$162.0M$564.0M-$157.0M—-$194.0M
OCI Pension Unamortized Gain (Loss), Pre-tax—-$1.0M-$4.0M$4.0M—$4.0M
Other Comprehensive Income (Loss), Tax—$1.0M$9.0M-$2.0M—-$19.0M
Comprehensive Income—-$487.0M$1.2B$915.0M—$1.0B
Stock Repurchased During Period, Value—$274.0M$338.0M$922.0M—$573.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Earnings Allocated to Participating Share Awards—$1.0M$2.0M$3.0M—$4.0M
Net income applicable to common shareholders—-$596.0M$712.0M$1.1B—$1.3B
Net Income Allocated to Common (Diluted)—-$596.0M$712.0M$1.1B—$1.3B
Comprehensive income (loss), including noncontrolling interest—-$487.0M$1.2B$915.0M—$1.0B
Common Stock Dividends$339.0M$356.0M$354.0M$351.0M$344.0M$359.0M
Cash Dividends, Common Stock—$356.0M$354.0M$351.0M—$359.0M
Net earnings to common—-$596.0M$712.0M$1.1B—$1.3B
Net Income Available to Common Stockholders (Diluted)—-$596.0M$712.0M$1.1B—$1.3B
Dividends allocated to participating securities—$1.0M$2.0M$3.0M—$4.0M
Net income attributable to noncontrolling interests—-$57.0M-$51.0M-$29.0M—$59.0M
Net Income Available to Common Shareholders—-$596.0M$712.0M$1.1B—$1.3B
Net income$281.0M-$595.0M$714.0M$1.1B$1.1B$1.3B
Preferred stock dividends—$356.0M$354.0M$351.0M—$359.0M
Net income attributable to common stock—-$596.0M$712.0M$1.1B—$1.3B
Common Stock Dividends$339.0M$356.0M$354.0M$351.0M$344.0M$359.0M
Distributions to Noncontrolling Interest Holders—$129.0M$2.0M———

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Income Taxes—$35.0M$248.0M$115.0M—$63.0M
Income Taxes Paid, Net—$35.0M$248.0M$115.0M—$63.0M
Income tax expense$0.0-$265.0M$279.0M$390.0M$355.0M$401.0M
Deferred Income Tax Expense-$9.0M-$324.0M—-$29.0M—-$397.0M
Income Taxes Paid, Net—$35.0M$248.0M$115.0M—$63.0M
Deferred and Other Income Taxes-$9.0M-$324.0M—-$29.0M—-$397.0M
Income and Other Taxes—$35.0M$248.0M$115.0M—$63.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest—$84.0M$179.0M$99.0M—$96.0M
Finance Lease Interest Payment—$29.0M$28.0M$27.0M—$29.0M
Other Charges$110.0M$120.0M$86.0M$86.0M$88.0M$132.0M
Interest Costs Incurred—$142.0M$146.0M$144.0M—$146.0M
Interest expense$135.0M$137.0M$141.0M$139.0M$139.0M$140.0M
Change in Accounts Payable—-$42.0M-$571.0M-$825.0M—$3.3B
Change in Receivables—$457.0M—-$731.0M—$3.7B
Other income (expense), net$110.0M$120.0M$86.0M$86.0M$88.0M$132.0M
Interest costs capitalized adjustment—$5.0M$5.0M$5.0M—$6.0M
Interest costs incurred—$142.0M$146.0M$144.0M—$146.0M
Interest Costs Incurred—$142.0M$146.0M$144.0M—$146.0M
Sale of Subsidiary Stock——$97.0M$148.0M—$190.0M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-based compensation expense—$1.0M$0.0$0.0—$0.0
Compensation and benefits—$37.0M$13.0M$18.0M—$48.0M
Other Costs and Expenses$4.0M$4.0M$4.0M$5.0M$2.0M$24.0M
General and administrative$266.0M$261.0M$220.0M$246.0M$315.0M$285.0M
Impairment charges$0.0$1.1B$0.0$0.0$0.0$0.0
Other operating charges$4.0M$4.0M$4.0M$5.0M$2.0M$24.0M
Purchased power and fuel$22.0B$26.0B$26.3B$28.0B$19.3B$26.2B
Depreciation and amortization$687.0M$680.0M$786.0M$824.0M$805.0M$828.0M
Other operating expenses$4.0M$4.0M$4.0M$5.0M$2.0M$24.0M
Share-Based Compensation Expense—$1.0M$0.0$0.0—$0.0
Excise and Sales Taxes$1.5B$1.5B$1.7B$1.8B$1.8B$1.7B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$629.0M$507.0M$1.2B$1.8B$1.9B$2.1B
Operating income$348.0M-$900.0M$997.0M$1.5B$1.6B$1.7B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$323.0M-$917.0M$942.0M$1.5B$1.5B$1.7B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Excise Taxes on Products$1.5B$1.5B$1.7B$1.8B$1.8B$1.7B
Total revenue$30.8B$30.3B$29.9B$32.2B$30.4B$32.4B
Excise and sales taxes$1.5B$1.5B$1.7B$1.8B$1.8B$1.7B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$30.1B$29.8B$28.6B$30.4B$28.5B$30.3B