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Valero Energy VLO Debt-to-equity

Debt-to-equity at other companies

Devon Energy logo
Devon EnergyDVN
0.6×-0.1×
Imperial Oil logo
Imperial OilIMO
0.2×0.0×
Chevron logo
ChevronCVX
0.2×0.0×
Exxon Mobil logo
Exxon MobilXOM
0.2×0.0×
Oneok logo
OneokOKE
1.4×0.0×
Casey's General Stores logo
Casey's General StoresCASY
0.8×-0.2×

Other financials

Income statement

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Revenue$32.4B+7.0%
Gross profit$2.1B+305%
Operating income$1.7B+292%
Net income$1.3B+312%
EPS (diluted)$4.22+322%

Balance sheet

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Cash & equivalents$5.7B+23.7%
Total debt$11.5B+5.9%
Total equity$23.9B+1.6%
Total assets$62.1B+5.0%

Cash flow

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Operating cash flow$1.4B+46.0%

Valuation

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Market cap$71.2B+77.9%
Enterprise value$76.95B+66.7%
P/E16.9×-26.1×
P/S0.6×+0.3×

Profitability

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Gross margin5.6%+3.0pp
Operating margin4.7%+3.7pp
Net margin3.4%+2.6pp

Returns & leverage

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Return on equity17.8%+14.0pp
Current ratio1.6×0.0×

Where this comes from

Calculated from Valero Energy’s reported figures.

Based on the most recent quarter.

The official record: Valero Energy’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Valero Energy's debt-to-equity?
Valero Energy (VLO) reported debt-to-equity of 0.5× in Q1 2026.
How has Valero Energy's debt-to-equity changed year-over-year?
Valero Energy's debt-to-equity increased by 4.2% year-over-year, from 0.5× to 0.5×.
What is the long-term trend for Valero Energy's debt-to-equity?
Over 4 years (2021 to 2025), Valero Energy's debt-to-equity has grown at a -13.0% compound annual growth rate (CAGR), from 3.4× to 1.9×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.