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Valero Energy VLO Gross margin

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24.5%+1.2pp
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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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Operating margin4.7%+3.7pp
Net margin3.4%+2.6pp

Returns & leverage

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Return on equity17.8%+14.0pp
Debt / equity0.5×0.0×
Current ratio1.6×0.0×

Where this comes from

Calculated from Valero Energy’s reported figures.

Based on trailing twelve months.

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 gross margin?
Valero Energy (VLO) reported gross margin of 5.6% in Q1 2026.
How has Valero Energy's gross margin changed year-over-year?
Valero Energy's gross margin increased by 115.6% year-over-year, from 2.6% to 5.6%.
What is the long-term trend for Valero Energy's gross margin?
Over 4 years (2021 to 2025), Valero Energy's gross margin has grown at a 27.7% compound annual growth rate (CAGR), from 4.9% to 12.9%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.