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Side-by-side financial comparison of Performance Food Group Co (PFGC) and Valero Energy (VLO). Click either name above to swap in a different company.
Valero Energy is the larger business by last-quarter revenue ($30.4B vs $16.4B, roughly 1.8× Performance Food Group Co). Valero Energy runs the higher net margin — 3.7% vs 0.4%, a 3.4% gap on every dollar of revenue. On growth, Performance Food Group Co posted the faster year-over-year revenue change (5.2% vs -1.2%). Over the past eight quarters, Performance Food Group Co's revenue compounded faster (8.9% CAGR vs -2.2%).
PepsiCo, Inc. is an American multinational food and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo's business encompasses all aspects of the food and beverage market. It oversees the manufacturing, distribution, and marketing of its products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc., PepsiCo has since expanded from its namesake product Pepsi to an immensely diversified range of food and beverage bran...
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.
PFGC vs VLO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.4B | $30.4B |
| Net Profit | $61.7M | $1.1B |
| Gross Margin | 12.0% | 6.3% |
| Operating Margin | 1.2% | 5.2% |
| Net Margin | 0.4% | 3.7% |
| Revenue YoY | 5.2% | -1.2% |
| Net Profit YoY | 45.5% | 303.6% |
| EPS (diluted) | $0.39 | $3.66 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $16.4B | $30.4B | ||
| Q3 25 | $17.1B | $32.2B | ||
| Q2 25 | $16.9B | $29.9B | ||
| Q1 25 | $15.3B | $30.3B | ||
| Q4 24 | $15.6B | $30.8B | ||
| Q3 24 | $15.4B | $32.9B | ||
| Q2 24 | $15.2B | $34.5B | ||
| Q1 24 | $13.9B | $31.8B |
| Q4 25 | $61.7M | $1.1B | ||
| Q3 25 | $93.6M | $1.1B | ||
| Q2 25 | $131.5M | $714.0M | ||
| Q1 25 | $58.3M | $-595.0M | ||
| Q4 24 | $42.4M | $281.0M | ||
| Q3 24 | $108.0M | $364.0M | ||
| Q2 24 | $166.5M | $880.0M | ||
| Q1 24 | $70.4M | $1.2B |
| Q4 25 | 12.0% | 6.3% | ||
| Q3 25 | 11.8% | 5.5% | ||
| Q2 25 | 11.8% | 4.2% | ||
| Q1 25 | 11.9% | 1.7% | ||
| Q4 24 | 11.7% | 2.0% | ||
| Q3 24 | 11.4% | 2.3% | ||
| Q2 24 | 11.5% | 4.2% | ||
| Q1 24 | 11.3% | 6.2% |
| Q4 25 | 1.2% | 5.2% | ||
| Q3 25 | 1.3% | 4.7% | ||
| Q2 25 | 1.6% | 3.3% | ||
| Q1 25 | 1.1% | -3.0% | ||
| Q4 24 | 1.0% | 1.1% | ||
| Q3 24 | 1.4% | 1.5% | ||
| Q2 24 | 1.9% | 3.5% | ||
| Q1 24 | 1.1% | 5.3% |
| Q4 25 | 0.4% | 3.7% | ||
| Q3 25 | 0.5% | 3.4% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | 0.4% | -2.0% | ||
| Q4 24 | 0.3% | 0.9% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | 1.1% | 2.6% | ||
| Q1 24 | 0.5% | 3.9% |
| Q4 25 | $0.39 | $3.66 | ||
| Q3 25 | $0.60 | $3.53 | ||
| Q2 25 | $0.85 | $2.28 | ||
| Q1 25 | $0.37 | $-1.90 | ||
| Q4 24 | $0.27 | $0.98 | ||
| Q3 24 | $0.69 | $1.14 | ||
| Q2 24 | $1.07 | $2.71 | ||
| Q1 24 | $0.45 | $3.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.7B |
| Total DebtLower is stronger | $5.3B | $9.7B |
| Stockholders' EquityBook value | $4.6B | $23.7B |
| Total Assets | $18.2B | $58.0B |
| Debt / EquityLower = less leverage | 1.13× | 0.41× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $4.9B |
| Q4 25 | $5.3B | $9.7B | ||
| Q3 25 | $5.6B | $9.7B | ||
| Q2 25 | $5.4B | $10.3B | ||
| Q1 25 | $5.4B | $10.3B | ||
| Q4 24 | $5.7B | $9.7B | ||
| Q3 24 | $3.9B | $9.8B | ||
| Q2 24 | $3.2B | $9.7B | ||
| Q1 24 | $3.2B | $10.0B |
| Q4 25 | $4.6B | $23.7B | ||
| Q3 25 | $4.6B | $23.8B | ||
| Q2 25 | $4.5B | $24.1B | ||
| Q1 25 | $4.3B | $23.5B | ||
| Q4 24 | $4.3B | $24.5B | ||
| Q3 24 | $4.2B | $25.3B | ||
| Q2 24 | $4.1B | $25.4B | ||
| Q1 24 | $4.0B | $26.1B |
| Q4 25 | $18.2B | $58.0B | ||
| Q3 25 | $18.4B | $58.6B | ||
| Q2 25 | $17.9B | $59.4B | ||
| Q1 25 | $17.1B | $59.2B | ||
| Q4 24 | $17.1B | $60.1B | ||
| Q3 24 | $14.4B | $60.4B | ||
| Q2 24 | $13.4B | $63.6B | ||
| Q1 24 | $12.9B | $62.6B |
| Q4 25 | 1.13× | 0.41× | ||
| Q3 25 | 1.23× | 0.41× | ||
| Q2 25 | 1.20× | 0.43× | ||
| Q1 25 | 1.25× | 0.44× | ||
| Q4 24 | 1.34× | 0.40× | ||
| Q3 24 | 0.93× | 0.39× | ||
| Q2 24 | 0.78× | 0.38× | ||
| Q1 24 | 0.81× | 0.39× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $601.2M | $2.1B |
| Free Cash FlowOCF − Capex | $487.8M | — |
| FCF MarginFCF / Revenue | 3.0% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 9.74× | 1.81× |
| TTM Free Cash FlowTrailing 4 quarters | $792.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $601.2M | $2.1B | ||
| Q3 25 | $-145.2M | $1.9B | ||
| Q2 25 | $383.0M | $936.0M | ||
| Q1 25 | $448.1M | $952.0M | ||
| Q4 24 | $325.5M | $1.1B | ||
| Q3 24 | $53.5M | $1.3B | ||
| Q2 24 | $206.3M | $2.5B | ||
| Q1 24 | $402.7M | $1.8B |
| Q4 25 | $487.8M | — | ||
| Q3 25 | $-224.1M | $1.5B | ||
| Q2 25 | $209.7M | $529.0M | ||
| Q1 25 | $319.3M | $293.0M | ||
| Q4 24 | $218.1M | $523.0M | ||
| Q3 24 | $-43.0M | $866.0M | ||
| Q2 24 | $55.1M | $2.1B | ||
| Q1 24 | $305.4M | $1.2B |
| Q4 25 | 3.0% | — | ||
| Q3 25 | -1.3% | 4.6% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 2.1% | 1.0% | ||
| Q4 24 | 1.4% | 1.7% | ||
| Q3 24 | -0.3% | 2.6% | ||
| Q2 24 | 0.4% | 5.9% | ||
| Q1 24 | 2.2% | 3.7% |
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 1.0% | 1.4% | ||
| Q1 25 | 0.8% | 2.2% | ||
| Q4 24 | 0.7% | 1.8% | ||
| Q3 24 | 0.6% | 1.3% | ||
| Q2 24 | 1.0% | 1.2% | ||
| Q1 24 | 0.7% | 2.1% |
| Q4 25 | 9.74× | 1.81× | ||
| Q3 25 | -1.55× | 1.72× | ||
| Q2 25 | 2.91× | 1.31× | ||
| Q1 25 | 7.69× | — | ||
| Q4 24 | 7.68× | 3.81× | ||
| Q3 24 | 0.50× | 3.56× | ||
| Q2 24 | 1.24× | 2.81× | ||
| Q1 24 | 5.72× | 1.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PFGC
| Foodservice | $8.8B | 54% |
| Convenience | $6.3B | 38% |
| Specialty | $1.3B | 8% |
VLO
| Distillates | $14.3B | 47% |
| Gasoline And Blendstocks | $12.5B | 41% |
| Manufactured Product Other | $1.8B | 6% |
| Ethanol Product | $784.0M | 3% |
| Renewable Diesel Product | $589.0M | 2% |
| Distillers Grains | $194.0M | 1% |
| Neat SAF | $118.0M | 0% |
| Renewable Naphtha Product | $24.0M | 0% |
