Balance Sheet Valero Energy Corporation

Equities

VLO

US91913Y1001

Oil & Gas Refining and Marketing

Market Closed - Nyse Other stock markets 21:00:01 10/09/2024 BST			5-day change	1st Jan Change
136.09 ^USD	+1.44%		-3.73%	+4.68%

09-09	Tudor Pickering Holt Adjusts Valero Energy Price Target to $133 From $150	MT
09-03	Wells Fargo Adjusts Price Target on Valero Energy to $172 From $165, Maintains Equalweight Rating	MT

228b83f28e972.rH6GH15xl4E5pEZlXaLWPwEj_4R308SmmUN-JQAB_fA.2RHCLD8Vpu8MzQhRaJTlYEhvhewVq5Gf6io3ZnNTsMfCONZGFhXD63bwfg

Published financial data: VALERO ENERGY CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	103B	60.12B	108B	171B	139B
Total Revenues	103B	60.12B	108B	171B	139B
Cost of Goods Sold, Total	96.2B	58.85B	103B	152B	125B
Gross Profit	6.53B	1.27B	5.49B	19.22B	14.39B
Selling General & Admin Expenses, Total	814M	719M	808M	868M	898M
Depreciation & Amortization - (IS)	2.26B	2.32B	2.36B	2.47B	2.7B
Other Operating Expenses	-428M	-262M	87M	66M	-1.17B
Other Operating Expenses, Total	2.64B	2.78B	3.25B	3.41B	2.43B
Operating Income	3.89B	-1.51B	2.24B	15.82B	11.96B
Interest Expense, Total	-454M	-563M	-603M	-562M	-592M
Interest And Investment Income	-	-	-	-	293M
Net Interest Expenses	-454M	-563M	-603M	-562M	-299M
Currency Exchange Gains (Loss)	75M	-13M	44M	-119M	-
Other Non Operating Income (Expenses)	9M	113M	78M	276M	98M
EBT, Excl. Unusual Items	3.52B	-1.98B	1.75B	15.41B	11.76B
Merger & Related Restructuring Charges	-7M	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	62M	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-30M	-72M	-61M	-
Other Unusual Items	-27M	-5M	-201M	-44M	11M
EBT, Incl. Unusual Items	3.49B	-2.01B	1.54B	15.31B	11.77B
Income Tax Expense	702M	-903M	255M	3.43B	2.62B
Earnings From Continuing Operations	2.78B	-1.11B	1.29B	11.88B	9.15B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	2.78B	-1.11B	1.29B	11.88B	9.15B
Minority Interest	-362M	-314M	-358M	-351M	-314M
Net Income - (IS)	2.42B	-1.42B	930M	11.53B	8.84B
Preferred Dividend and Other Adjustments	7M	5M	6M	43M	27M
Net Income to Common Incl Extra Items	2.42B	-1.43B	924M	11.48B	8.81B
Net Income to Common Excl. Extra Items	2.42B	-1.43B	924M	11.48B	8.81B
Per Share Items
Net EPS - Basic	5.85	-3.5	2.27	29.08	24.95
Basic EPS - Continuing Operations	5.85	-3.5	2.27	29.08	24.95
Basic Weighted Average Shares Outstanding	413M	407M	407M	395M	353M
Net EPS - Diluted	5.85	-3.5	2.27	29.04	24.92
Diluted EPS - Continuing Operations	5.85	-3.5	2.27	29.04	24.92
Diluted Weighted Average Shares Outstanding	414M	407M	407M	396M	353M
Normalized Basic EPS	4.45	-3.8	1.81	23.5	19.93
Normalized Diluted EPS	4.44	-3.8	1.81	23.44	19.93
Dividend Per Share	3.6	3.92	3.92	3.92	4.08
Payout Ratio	61.6	-112.6	172.26	13.55	16.43
Supplemental Items
EBITDA	6.14B	809M	4.59B	18.27B	14.66B
EBITA	4.65B	-764M	2.93B	16.56B	12.78B
EBIT	3.89B	-1.51B	2.24B	15.82B	11.96B
EBITDAR	-	-	5.14B	18.91B	15.49B
Effective Tax Rate - (Ratio)	20.14	44.93	16.53	22.39	22.26
Current Domestic Taxes	182M	-1.02B	69M	2.3B	1.96B
Current Foreign Taxes	286M	-37M	312M	1.08B	555M
Total Current Taxes	468M	-1.06B	381M	3.38B	2.52B
Deferred Domestic Taxes	274M	75M	-19M	244M	13M
Deferred Foreign Taxes	-40M	83M	-107M	-194M	90M
Total Deferred Taxes	234M	158M	-126M	50M	103M
Normalized Net Income	1.84B	-1.55B	738M	9.28B	7.03B
Interest Capitalized	90M	75M	48M	57M	19M
Interest on Long-Term Debt	544M	638M	651M	84M	611M
Non-Cash Pension Expense	-42M	-34M	-48M	-12M	-103M
Supplemental Operating Expense Items
General and Administrative Expenses	861M	756M	865M	934M	998M
Net Rental Expense, Total	-	-	549M	645M	827M
Imputed Operating Lease Interest Expense	-	-	185M	229M	319M
Imputed Operating Lease Depreciation	-	-	364M	416M	508M
Stock-Based Comp., Other (Total)	89M	80M	88M	103M	107M
Total Stock-Based Compensation	89M	80M	88M	103M	107M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.58B	3.31B	4.12B	4.86B	5.42B
Total Cash And Short Term Investments	2.58B	3.31B	4.12B	4.86B	5.42B
Accounts Receivable, Total	8.06B	4.81B	9.97B	10.76B	11.04B
Other Receivables	730M	1.3B	410M	1.16B	1.49B
Total Receivables	8.79B	6.11B	10.38B	11.92B	12.52B
Inventory	7.01B	6.04B	6.26B	6.75B	7.58B
Prepaid Expenses	469M	384M	400M	600M	689M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	116M	-	-	-	-
Total Current Assets	18.97B	15.84B	21.16B	24.13B	26.22B
Gross Property Plant And Equipment	45.62B	48.17B	50.36B	51.69B	52.8B
Accumulated Depreciation	-15.03B	-16.58B	-18.22B	-19.6B	-21.46B
Net Property Plant And Equipment	30.59B	31.59B	32.13B	32.09B	31.34B
Long-term Investments	942M	972M	734M	724M	713M
Goodwill	260M	260M	260M	260M	260M
Other Intangibles, Total	283M	248M	218M	202M	183M
Deferred Charges Long-Term	1.78B	1.7B	1.85B	2.14B	2.38B
Other Long-Term Assets, Total	1.04B	1.15B	1.53B	1.43B	1.95B
Total Assets	53.86B	51.77B	57.89B	60.98B	63.06B
Liabilities
Accounts Payable, Total	10.2B	6.08B	12.5B	12.73B	12.57B
Accrued Expenses, Total	1.87B	2.02B	2.32B	2.34B	2.29B
Current Portion of Long-Term Debt	453M	603M	1.11B	861M	1.2B
Current Portion of Leases	372M	405M	469M	559M	569M
Current Income Taxes Payable	208M	112M	378M	841M	137M
Unearned Revenue Current, Total	55M	56M	78M	129M	40M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities	13.16B	9.28B	16.85B	17.46B	16.8B
Long-Term Debt	8.43B	12.41B	10.84B	8.38B	8.02B
Long-Term Leases	1.71B	2.43B	2.71B	2.92B	2.85B
Pension & Other Post Retirement Benefits	834M	878M	601M	448M	476M
Deferred Tax Liability Non Current	5.1B	5.28B	5.21B	5.22B	5.35B
Other Non Current Liabilities	2.09B	1.86B	1.86B	1.09B	1.03B
Total Liabilities	31.33B	32.13B	38.07B	35.51B	34.53B
Common Stock, Total	7M	7M	7M	7M	7M
Additional Paid In Capital	6.82B	6.81B	6.83B	6.86B	6.9B
Retained Earnings	31.97B	28.95B	28.28B	38.25B	45.63B
Treasury Stock	-15.65B	-15.72B	-15.68B	-20.2B	-25.32B
Comprehensive Income and Other	-1.35B	-1.25B	-1.01B	-1.36B	-870M
Total Common Equity	21.8B	18.8B	18.43B	23.56B	26.35B
Minority Interest	733M	841M	1.39B	1.91B	2.18B
Total Equity	22.54B	19.64B	19.82B	25.47B	28.52B
Total Liabilities And Equity	53.86B	51.77B	57.89B	60.98B	63.06B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	409M	409M	409M	371M	332M
ECS Total Common Shares Outstanding	409M	408M	409M	372M	333M
Book Value / Share	53.27	46.04	45.04	63.31	79.05
Tangible Book Value	21.26B	18.29B	17.95B	23.1B	25.9B
Tangible Book Value Per Share	51.94	44.79	43.87	62.07	77.72
Total Debt	10.96B	15.85B	15.12B	12.72B	12.64B
Net Debt	8.38B	12.53B	11B	7.86B	7.21B
Debt Equivalent of Unfunded Proj. Benefit Obligation	530M	558M	160M	-72M	-217M
Debt Equivalent Oper. Leases	-	-	4.39B	5.16B	6.62B
Minority Interest, Total (Incl. Fin. Div)	733M	841M	1.39B	1.91B	2.18B
Equity Method Investments, Total	942M	972M	734M	724M	713M
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-2.5B	-1.3B	-5.2B	-	-4.4B
Inventories - Raw Materials, Total	274M	287M	295M	313M	344M
Inventories - Finished Goods, Total	6.74B	5.75B	5.97B	6.44B	7.24B
Land - (BS)	476M	485M	494M	499M	505M
Buildings, Total	1.02B	1.04B	1.06B	1.1B	1.14B
Machinery, Total	1.2B	-	-	-	-
Full Time Employees	10.22K	9.8K	9.79K	9.72K	9.89K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	36M	47M	28M	30M	28M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.42B	-1.42B	930M	11.53B	8.84B
Depreciation & Amortization - CF	1.5B	1.57B	1.66B	1.7B	1.88B
Amortization of Goodwill and Intangible Assets - (CF)	759M	748M	695M	745M	821M
Depreciation & Amortization, Total	2.26B	2.32B	2.36B	2.45B	2.7B
(Gain) Loss From Sale Of Asset	-	-	-	23M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-62M	-	-
Asset Writedown & Restructuring Costs	-	30M	48M	61M	-
Stock-Based Compensation (CF)	-	-	-	-	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	596M	453M	425M	387M	406M
Change In Accounts Receivable	-1.47B	2.77B	-4.38B	-1.62B	-387M
Change In Inventories	-385M	1.01B	-253M	-672M	-684M
Change In Accounts Payable	1.53B	-4.07B	6.3B	521M	-169M
Change In Income Taxes	153M	-243M	224M	231M	-776M
Change in Other Net Operating Assets	424M	96M	271M	-336M	-697M
Cash from Operations	5.53B	948M	5.86B	12.57B	9.23B
Capital Expenditure	-2.07B	-1.79B	-1.66B	-1.68B	-911M
Sale of Property, Plant, and Equipment	-	-	-	32M	-
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-164M	-54M	261M	-1M	38M
Other Investing Activities, Total	-768M	-583M	-755M	-1.16B	-992M
Cash from Investing	-3B	-2.42B	-2.16B	-2.8B	-1.86B
Long-Term Debt Issued, Total	2.13B	4.57B	1.83B	3.15B	2.42B
Total Debt Issued	2.13B	4.57B	1.83B	3.15B	2.42B
Long-Term Debt Repaid, Total	-1.81B	-495M	-3.04B	-5.96B	-2.68B
Total Debt Repaid	-1.81B	-495M	-3.04B	-5.96B	-2.68B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-1.1B	-156M	-27M	-4.58B	-5.14B
Common Dividends Paid	-1.49B	-1.6B	-1.6B	-1.56B	-1.45B
Common & Preferred Stock Dividends Paid	-1.49B	-1.6B	-1.6B	-1.56B	-1.45B
Other Financing Activities, Total	-720M	-242M	-10M	100M	-91M
Cash from Financing	-3B	2.08B	-2.85B	-8.85B	-6.94B
Foreign Exchange Rate Adjustments	68M	130M	-45M	-180M	139M
Net Change in Cash	-399M	730M	809M	740M	562M
Supplemental Items
Cash Interest Paid	452M	526M	598M	570M	562M
Cash Income Tax Paid (Refund)	-116M	203M	-842M	3.29B	3.49B
Levered Free Cash Flow	2.58B	-889M	4.28B	8.95B	6.47B
Unlevered Free Cash Flow	2.86B	-537M	4.66B	9.3B	6.84B
Change In Net Working Capital	-156M	205M	-2.48B	1.46B	2.53B
Net Debt Issued / Repaid	320M	4.08B	-1.21B	-2.81B	-262M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.67	-1.79	2.55	16.63	12.05
Return on Total Capital	7.44	-2.74	3.97	27.04	18.84
Return On Equity %	12.3	-5.25	6.53	52.46	33.89
Return on Common Equity	11.11	-7.02	4.96	54.7	35.3
Margin Analysis
Gross Profit Margin %	6.36	2.11	5.06	11.23	10.35
SG&A Margin	0.79	1.2	0.75	0.51	0.65
EBITDA Margin %	5.98	1.35	4.24	10.67	10.55
EBITA Margin %	4.53	-1.27	2.7	9.67	9.19
EBIT Margin %	3.79	-2.52	2.06	9.24	8.6
Income From Continuing Operations Margin %	2.71	-1.84	1.19	6.94	6.58
Net Income Margin %	2.36	-2.36	0.86	6.73	6.36
Net Avail. For Common Margin %	2.35	-2.37	0.85	6.71	6.34
Normalized Net Income Margin	1.79	-2.58	0.68	5.42	5.06
Levered Free Cash Flow Margin	2.51	-1.48	3.96	5.23	4.65