Financials Valero Energy Corporation

Equities

VLO

US91913Y1001

Oil & Gas Refining and Marketing

Market Closed - Nyse Other stock markets 21:00:02 12/05/2026 BST			5-day change	1st Jan Change
247.12 ^USD	-0.41%		-2.50%	+51.80%

05-07	Valero Energy Keeps Quarterly Dividend at $1.20 a Share, Payable on June 23 to Shareholders of Record on May 21	MT
05-07	Valero Energy Corporation Declares A Regular Quarterly Cash Dividend on Common Stock, Payable on June 23, 2026	CI

Projected Income Statement: Valero Energy Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	113,977	176,383	144,766	129,881	122,687	134,280	124,247	114,060
Change	-	54.75%	-17.93%	-10.28%	-5.54%	9.45%	-7.47%	-8.2%
EBITDA ¹	4,535	18,163	14,559	6,529	7,557	13,612	9,886	8,980
Change	-	300.51%	-19.84%	-55.15%	15.75%	80.12%	-27.37%	-9.16%
EBIT ¹	2,333	15,690	11,858	3,755	3,181	11,266	7,789	6,634
Change	-	572.52%	-24.42%	-68.33%	-15.29%	254.18%	-30.87%	-14.83%
Interest Paid ¹	-603	-562	-592	-556	-556	-568	-545.6	-514.1
Earnings before Tax (EBT) ¹	1,543	15,307	11,768	3,698	3,005	11,109	8,356	7,922
Change	-	892.03%	-23.12%	-68.58%	-18.74%	269.68%	-24.78%	-5.2%
Net income ¹	930	11,528	8,835	2,770	2,348	8,300	5,738	5,529
Change	-	1,139.57%	-23.36%	-68.65%	-15.23%	253.51%	-30.88%	-3.64%
Announcement Date	27/01/22	26/01/23	25/01/24	30/01/25	29/01/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	27,748	29,520	35,903	38,542	51,641	44,454	41,746	36,439	34,509	38,404	35,414	31,759	34,490	32,876	30,756	30,258	29,889	32,168	30,372	32,381	37,685	35,093	32,186	28,208	30,736	30,726	29,974	28,644
Change	-	6.39%	21.62%	7.35%	33.99%	-13.92%	-6.09%	-12.71%	-5.3%	11.29%	-7.79%	-10.32%	8.6%	-4.68%	-6.45%	-1.62%	-1.22%	7.62%	-5.58%	6.61%	16.38%	-6.88%	-8.28%	-12.36%	8.96%	-0.03%	-2.45%	-4.44%
EBITDA ¹	1,097	1,334	2,192	1,990	6,821	4,017	4,928	4,703	3,428	3,764	2,243	2,374	1,917	1,192	1,046	922	1,811	2,395	2,429	2,571	4,541	3,944	2,953	2,193	2,847	2,611	2,069	1,991
Change	-	21.6%	64.32%	-9.22%	242.76%	-41.11%	22.68%	-4.57%	-27.11%	9.8%	-40.41%	5.84%	-19.25%	-37.82%	-12.25%	-11.85%	96.42%	32.25%	1.42%	5.85%	76.61%	-13.14%	-25.12%	-25.75%	29.85%	-8.31%	-20.75%	-3.75%
EBIT ¹	509	693	1,597	1,384	6,219	3,792	4,295	4,043	2,759	3,503	1,553	1,679	1,221	507	348	231	997	1,559	1,575	1,731	3,847	3,291	2,488	1,700	2,196	1,968	1,485	1,309
Change	-	36.15%	130.45%	-13.34%	349.35%	-39.03%	13.26%	-5.87%	-31.76%	26.97%	-55.67%	8.11%	-27.28%	-58.48%	-31.36%	-33.62%	331.6%	56.37%	1.03%	9.9%	122.24%	-14.46%	-24.39%	-31.7%	29.23%	-10.4%	-24.55%	-11.81%
Charge d'intérêts ¹	-150	-152	-152	-145	-142	-138	-137	-146	-148	-149	-149	-140	-140	-141	-135	-137	-141	-139	-139	-	-143.5	-143.2	-141.5	-132.4	-132.4	-132.4	-132.4	-117
Earnings before Tax (EBT) ¹	461	573	1,279	1,219	6,110	3,728	4,250	4,026	2,717	3,476	1,549	1,683	1,203	489	323	-917	942	1,456	1,524	1,723	3,727	3,264	2,643	1,541	2,262	2,120	1,632	-
Change	-	24.3%	123.21%	-4.69%	401.23%	-38.99%	14%	-5.27%	-32.51%	27.94%	-55.44%	8.65%	-28.52%	-59.35%	-33.95%	-383.9%	202.73%	54.56%	4.67%	13.06%	116.29%	-12.42%	-19.01%	-41.7%	46.74%	-6.26%	-23.01%	-
Net income ¹	162	463	1,009	905	4,693	2,817	3,113	3,067	1,944	2,622	1,202	1,245	880	364	281	-595	714	1,095	1,134	1,263	2,810	2,486	1,921	1,197	1,489	1,397	1,038	-
Change	-	185.8%	117.93%	-10.31%	418.56%	-39.97%	10.51%	-1.48%	-36.62%	34.88%	-54.16%	3.58%	-29.32%	-58.64%	-22.8%	-311.74%	220%	53.36%	3.56%	11.38%	122.47%	-11.51%	-22.72%	-37.72%	24.44%	-6.17%	-25.66%	-
Announcement Date	29/07/21	21/10/21	27/01/22	26/04/22	28/07/22	25/10/22	26/01/23	27/04/23	27/07/23	26/10/23	25/01/24	25/04/24	25/07/24	24/10/24	30/01/25	24/04/25	24/07/25	23/10/25	29/01/26	30/04/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Valero Energy Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	9,748	6,773	6,100	5,806	5,931	5,549	5,481	5,179
Change	-	-30.52%	-9.94%	-4.82%	2.15%	-6.44%	-1.23%	-5.51%
Announcement Date	27/01/22	26/01/23	25/01/24	30/01/25	29/01/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Valero Energy Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	2,458	2,737	1,916	2,057	1,888	1,790	1,730	1,666
Change	-	11.35%	-30%	7.36%	-8.22%	-5.19%	-3.34%	-3.73%
Free Cash Flow (FCF) ¹	3,401	9,837	7,313	4,626	3,938	8,554	6,485	5,792
Change	-	189.24%	-25.66%	-36.74%	-14.87%	117.22%	-24.19%	-10.69%
Announcement Date	27/01/22	26/01/23	25/01/24	30/01/25	29/01/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Valero Energy Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	3.98%	10.3%	10.06%	5.03%	6.16%	10.14%	7.96%	7.87%
EBIT Margin (%)	2.05%	8.9%	8.19%	2.89%	2.59%	8.39%	6.27%	5.82%
EBT Margin (%)	1.35%	8.68%	8.13%	2.85%	2.45%	8.27%	6.73%	6.95%
Net margin (%)	0.82%	6.54%	6.1%	2.13%	1.91%	6.18%	4.62%	4.85%
FCF margin (%)	2.98%	5.58%	5.05%	3.56%	3.21%	6.37%	5.22%	5.08%
FCF / Net Income (%)	365.7%	85.33%	82.77%	167%	167.72%	103.06%	113.03%	104.75%
Profitability
ROA	1.7%	19.4%	14.25%	4.45%	-	13.32%	9.22%	-
ROE	5%	54.91%	35.41%	10.89%	9.74%	29.96%	21.57%	18.27%
Financial Health
Leverage (Debt/EBITDA)	2.15x	0.37x	0.42x	0.89x	0.78x	0.41x	0.55x	0.58x
Debt / Free cash flow	2.87x	0.69x	0.83x	1.26x	1.51x	0.65x	0.85x	0.89x
Capital Intensity
CAPEX / Current Assets (%)	2.16%	1.55%	1.32%	1.58%	1.54%	1.33%	1.39%	1.46%
CAPEX / EBITDA (%)	54.2%	15.07%	13.16%	31.51%	24.98%	13.15%	17.5%	18.55%
CAPEX / FCF (%)	72.27%	27.82%	26.2%	44.47%	47.94%	20.93%	26.68%	28.76%
Items per share
Cash flow per share ¹	8.929	35.86	26.14	18.29	19.48	35.53	29.26	30.7
Change	-	301.61%	-27.09%	-30.06%	6.51%	82.45%	-17.66%	4.94%
Dividend per Share ¹	3.92	3.92	4.08	4.28	4.52	4.794	5.048	5.238
Change	-	0%	4.08%	4.9%	5.61%	6.07%	5.29%	3.77%
Book Value Per Share ¹	45.28	63.31	79.24	77.82	-	84.48	88.31	94.49
Change	-	39.82%	25.15%	-1.79%	-	-	4.54%	7%
EPS ¹	2.27	29.04	24.92	8.58	7.57	29.03	21.54	22.22
Change	-	1,179.3%	-14.19%	-65.57%	-11.77%	283.54%	-25.81%	3.13%
Nbr of stocks (in thousands)	408,836	385,523	340,453	316,585	305,010	296,933	296,933	296,933
Announcement Date	27/01/22	26/01/23	25/01/24	30/01/25	29/01/26	-	-	-