Valero EnergyVLOEarnings & Financial Report
Valero Energy Corporation is an American-based fuels producer mostly involved in manufacturing and marketing transportation fuels and other related products. It is headquartered in San Antonio, Texas, United States. Throughout the United States, Canada, and the United Kingdom, the company owns and operates 15 refineries with a combined throughput capacity of approximately 3.2 million barrels per day, two renewable diesel plants that produce approximately 1.
Revenue
$30.4B
Gross Profit
$1.9B
Operating Profit
$1.6B
Net Profit
$1.1B
Gross Margin
6.3%
Operating Margin
5.2%
Net Margin
3.7%
YoY Growth
-1.2%
EPS
$3.66
Valero Energy Q4 FY2025 Financial Summary
Valero Energy reported revenue of $30.4B (down 1.2% YoY) for Q4 FY2025, with a net profit of $1.1B (up 303.6% YoY) (3.7% margin). Cost of goods sold was $28.5B, operating expenses totaled $329.0M.
Key Financial Metrics
| Total Revenue | $30.4B |
|---|---|
| Net Profit | $1.1B |
| Gross Margin | 6.3% |
| Operating Margin | 5.2% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Valero Energy Q4 FY2025 revenue of $30.4B breaks down across 8 segments, led by Distillates at $14.3B (47.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Distillates | $14.3B | 47.2% |
| Gasoline And Blendstocks | $12.5B | 41.3% |
| Manufactured Product Other | $1.8B | 5.9% |
| Ethanol Product | $784.0M | 2.6% |
| Renewable Diesel Product | $589.0M | 1.9% |
| Distillers Grains | $194.0M | 0.6% |
| Neat SAF | $118.0M | 0.4% |
| Renewable Naphtha Product | $24.0M | 0.1% |
Valero Energy Revenue by Segment — Quarterly Trend
Valero Energy revenue by segment across the last 4 reported quarters, showing how each business line (such as Distillates and Gasoline And Blendstocks) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Distillates | — | $14.3B | $14.6B | $12.8B |
| Gasoline And Blendstocks | — | $12.5B | $13.3B | $12.7B |
| Manufactured Product Other | — | $1.8B | $2.5B | $2.8B |
| Ethanol Product | — | $784.0M | $823.0M | $780.0M |
| Renewable Diesel Product | — | $589.0M | $623.0M | $470.0M |
Valero Energy Annual Revenue by Year
Valero Energy annual revenue history includes year-by-year totals (for example, 2025 revenue was $122.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $122.7B |
| 2024 | $129.9B |
| 2023 | $144.8B |
| 2022 | $176.4B |
Valero Energy Quarterly Revenue & Net Profit History
Valero Energy results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $32.4B | +7.0% | $1.3B | 4.1% |
| Q4 FY2025 | $30.4B | -1.2% | $1.1B | 3.7% |
| Q3 FY2025 | $32.2B | -2.2% | $1.1B | 3.4% |
| Q2 FY2025 | $29.9B | -13.3% | $714.0M | 2.4% |
| Q1 FY2025 | $30.3B | -4.7% | $-595.0M | -2.0% |
| Q4 FY2024 | $30.8B | -13.2% | $281.0M | 0.9% |
| Q3 FY2024 | $32.9B | -14.4% | $364.0M | 1.1% |
| Q2 FY2024 | $34.5B | -0.1% | $880.0M | 2.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.49B | $32.88B | $30.76B | $30.26B | $29.89B | $32.17B | $30.37B | $32.38B |
| YoY Growth | -0.1% | -14.4% | -13.2% | -4.7% | -13.3% | -2.2% | -1.2% | 7.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $63.62B | $60.38B | $60.14B | $59.18B | $59.43B | $58.62B | $57.99B | N/A |
| Liabilities | $38.17B | $35.13B | $35.63B | $35.69B | $35.35B | $34.86B | $34.26B | N/A |
| Equity | $25.44B | $25.25B | $24.51B | $23.49B | $24.08B | $23.75B | $23.73B | $26.93B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $2.47B | $1.29B | $1.07B | $952.0M | $936.0M | $1.88B | $2.06B | $1.39B |