Valuation, from the filing
| Public float | $41.80B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $139.79 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 17.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 0.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
17.8× earnings today, against a median of 14.7× across 9 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $41.80B | 17.8× | |
| 2024-06-28 | $50.20B | 18.1× | |
| 2023-06-30 | $41.40B | 4.7× | |
| 2022-06-30 | $41.90B | 3.6× | |
| 2021-06-30 | $31.90B | 34.3× | |
| 2019-06-28 | $35.50B | 14.7× | |
| 2018-06-29 | $47.50B | 15.2× | |
| 2017-06-30 | $29.80B | 7.3× | |
| 2016-06-30 | $23.60B | 10.3× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Petroleum Refining filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Current ratio | 1.65x | 92th | |
| Gross margin | 4.4% | 10th | |
| Operating margin | 2.6% | 29th | |
| Long-term debt / equity | 0.36x | 38th | |
| Effective tax rate | 25.3% | 57th | |
| SBC / revenue | 0.1% | 43th | |
| Net margin | 1.9% | 46th | |
| Revenue YoY growth | -5.5% | 46th |
VALERO ENERGY CORP/TX (VLO) reported revenue of $153.33B and net income of $12.94B for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from VALERO ENERGY CORP/TX’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Petroleum Refining.
Income
| Metric | 2026-09-30 |
|---|---|
| Revenue | $153.33B |
| Cost of revenue | $134.50B |
| Gross profit | $18.83B |
| Operating income | $17.58B |
| Net income | $12.94B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $17.47B |
| Income tax expense | $3.92B |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | $1.14B |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $9.84B |
| Total assets | $67.95B |
| Current assets | $33.56B |
| Total liabilities | Unavailable |
| Current liabilities | $19.47B |
| Total equity incl. NCI | $31.08B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $7.61B |
| Accounts receivable | $14.75B |
| Goodwill | Unavailable |
| Long-term debt | $10.01B |
| Accounts payable | $13.80B |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $15.96B |
| Capital expenditures | Unavailable |
| Investing cash flow | -$1.60B |
| Financing cash flow | -$9.19B |
| Net change in cash | $5.08B |
| Stock-based compensation | Unavailable |
| Common dividends paid | $1.40B |
| Common share repurchases | $7.26B |
| Depreciation & amortization | $53.00M |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | 12.3% |
| Operating margin | 11.5% |
| FCF margin | Unavailable |
| SBC / revenue | Unavailable |
| Current ratio | 1.72x |
| Revenue YoY growth | 24.6% |
| Net margin | 8.4% |
| R&D / revenue | Unavailable |
| CapEx / revenue | Unavailable |
| Long-term debt / equity | 0.32x |
| Effective tax rate | 22.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open VLO in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.