Valero Energy Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $122.69B | $134.45B | $144.77B | $176.38B | $113.98B | $64.91B | $108.32B | $117.03B |
| Refining | — | $127.90B | $138.15B | $170.18B | $109.24B | $61.73B | $104.17B | $113.38B |
| Renewable Diesel | — | $2.02B | $2.43B | $2.44B | $1.81B | $1.12B | $874.0M | $0 |
| Ethanol | — | $5.65B | $5.58B | $5.94B | $4.43B | $2.80B | $3.91B | $4.30B |
| Retail | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Corporate and Eliminations | — | $-1.12B | $-1.40B | $-2.18B | $-1.50B | $-734.0M | $-629.0M | $-646.0M |
| Cost of Revenue | $117.26B | $125.08B | $131.83B | $159.59B | $110.85B | $65.65B | $103.55B | $111.44B |
| Gross Profit | $5.43B | $9.37B | $12.93B | $16.80B | $3.13B | $-740.0M | $4.78B | $5.59B |
| Gross Margin | 4.4% | 7.0% | 8.9% | 9.5% | 2.7% | -1.1% | 4.4% | 4.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.04B | $961.0M | $998.0M | $934.0M | $865.0M | $756.0M | $868.0M | $925.0M |
| Operating Income | $3.18B | $3.76B | $11.86B | $15.69B | $2.13B | $-1.58B | $3.84B | $4.57B |
| Operating Margin | 2.6% | 2.8% | 8.2% | 8.9% | 1.9% | -2.4% | 3.5% | 3.9% |
| Interest Expense | $556.0M | $556.0M | $592.0M | $562.0M | $603.0M | $563.0M | $454.0M | $470.0M |
| Pretax Income | $3.01B | $3.70B | $11.77B | $15.31B | $1.54B | $-2.01B | $3.49B | $4.23B |
| Income Tax Expense | $759.0M | $692.0M | $2.62B | $3.43B | $255.0M | $-903.0M | $702.0M | $879.0M |
| Net Income | $2.35B | $2.77B | $8.84B | $11.53B | $930.0M | $-1.42B | $2.42B | $3.12B |
| Net Margin | 1.9% | 2.1% | 6.1% | 6.5% | 0.8% | -2.2% | 2.2% | 2.7% |
| EPS (Basic) | $7.57 | $8.58 | $24.93 | $29.05 | $2.27 | $-3.50 | $5.84 | $7.30 |
| EPS (Diluted) | $7.57 | $8.58 | $24.92 | $29.04 | $2.27 | $-3.50 | $5.84 | $7.29 |
| Shares Outstanding (Basic) | 309.0M | 322.0M | 353.0M | 395.0M | 407.0M | 407.0M | 413.0M | 426.0M |
| Shares Outstanding (Diluted) | 309.0M | 322.0M | 353.0M | 396.0M | 407.0M | 407.0M | 414.0M | 428.0M |
| Dividends Per Share | $4.52 | $4.28 | $4.08 | $3.92 | $3.92 | $3.92 | $3.60 | $3.20 |