Refining — Cost of Revenue
Valero Energy Refining — Cost of Revenue increased by 7.4% to $28.98B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 2.9%, from $28.15B to $28.98B. Over 4 years (FY 2021 to FY 2025), Refining — Cost of Revenue shows relatively stable performance with a 1.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue suggests margin compression due to rising feedstock costs, while a decrease indicates favorable input cost environments or improved procurement.
Detailed definition
This metric represents the direct costs attributable to the production of refined petroleum products, primarily consisti...
Peer comparison
Standard metric for all manufacturing and refining companies, often referred to as 'Cost of Goods Sold'.
vlo_segment_refining_cost_of_revenueHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $25.61B | $27.14B | $32.24B | $35.35B | $43.28B | $38.47B | $35.24B | $30.34B | $29.56B | $33.08B | $31.98B | $28.40B | $31.82B | $30.77B | $28.90B | $28.15B | $27.06B | $28.80B | $26.97B | $28.98B |
| QoQ Change | — | +6.0% | +18.8% | +9.6% | +22.4% | -11.1% | -8.4% | -13.9% | -2.6% | +11.9% | -3.3% | -11.2% | +12.1% | -3.3% | -6.1% | -2.6% | -3.9% | +6.4% | -6.4% | +7.4% |
| YoY Change | — | — | — | — | +69.0% | +41.8% | +9.3% | -14.2% | -31.7% | -14.0% | -9.3% | -6.4% | +7.6% | -7.0% | -9.6% | -0.8% | -15.0% | -6.4% | -6.7% | +2.9% |
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Frequently Asked Questions
- What is Valero Energy's refining — cost of revenue?
- Valero Energy (VLO) reported refining — cost of revenue of $28.98B in Q1 2026.
- How has Valero Energy's refining — cost of revenue changed year-over-year?
- Valero Energy's refining — cost of revenue increased by 2.9% year-over-year, from $28.15B to $28.98B.
- What is the long-term trend for Valero Energy's refining — cost of revenue?
- Over 4 years (2021 to 2025), Valero Energy's refining — cost of revenue has grown at a 1.4% compound annual growth rate (CAGR), from $105.02B to $110.98B.
- What does refining — cost of revenue mean?
- The direct costs of raw materials and inputs required to produce refined products.