Valero Energy (VLO) income statement
NYSE · Energy · Oil & Gas Refining & Marketing · 9,785 employees · CEO R. Lane Riggs
- Price
- $399.66 +3.92%
- Market cap
- $111B
- Enterprise value
- $113B
- Last report
- Q3 '26 filed 2026-10-28
- Next report
- 2027-02-04 EPS est. $19.40
Valero Energy (VLO) reported revenue of $46.1B for Q3 '26 (+43.3% year on year), operating income of $9.07B (19.7% of revenue) and net income of $6.83B. Over the last four quarters revenue was $147B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.4B | $31.8B | $34.5B | $32.9B | $30.8B | $30.3B | $29.9B | $32.2B | $31.7B | $32.4B | $36.6B | $46.1B | |
| Cost of revenue | $33.6B | $29.8B | $33.1B | $32.1B | $30.1B | $29.8B | $28.7B | $30.4B | $28.5B | $29.5B | $29.5B | $36.7B | |
| Gross profit | $1.86B | $1.97B | $1.43B | $744M | $618M | $496M | $1.22B | $1.77B | $3.26B | $2.88B | $7.15B | $9.41B | |
| General & administrative | $295M | $258M | $203M | $234M | $266M | $261M | $220M | $246M | $315M | $285M | $233M | $308M | |
| Other operating expenses | $15M | $34M | $3M | $3M | $4M | $1.14B | $4M | $16M | $1.37B | $864M | $1.72B | $26M | |
| Operating expenses | $310M | $292M | $206M | $237M | $270M | $1.4B | $224M | $262M | $1.69B | $1.15B | $1.95B | $334M | |
| Operating income | $1.55B | $1.68B | $1.22B | $507M | $348M | -$900M | $997M | $1.51B | $1.58B | $1.73B | $5.2B | $9.07B | |
| Interest income | $96M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Interest expense | $149M | $140M | $140M | $141M | $135M | $137M | $141M | $139M | $139M | $140M | $140M | $144M | |
| Other non-operating income (gains on investments, FX ...) | -$22M | -$144M | -$122M | -$123M | -$110M | -$120M | -$86M | -$86M | -$88M | $132M | -$132M | -$127M | |
| Total non-operating income | -$4M | $4M | -$18M | -$18M | -$25M | -$17M | -$55M | -$53M | -$51M | -$8M | -$29M | -$17M | |
| Income before tax | $1.55B | $1.68B | $1.2B | $489M | $323M | -$917M | $942M | $1.46B | $1.52B | $1.72B | $5.17B | $9.06B | |
| Income tax | $331M | $353M | $277M | $96M | -$34M | -$265M | $279M | $390M | $355M | $401M | $1.09B | $2.07B | |
| Net income | $1.2B | $1.25B | $880M | $364M | $281M | -$595M | $714M | $1.1B | $1.13B | $1.26B | $3.72B | $6.83B | |
| EPS (basic) | $3.56 | $3.75 | $2.71 | $1.14 | $0.89 | -$1.90 | $2.28 | $3.54 | $3.74 | $4.22 | $12.62 | $23.90 | |
| EPS (diluted) | $3.55 | $3.75 | $2.71 | $1.14 | $0.89 | -$1.90 | $2.28 | $3.53 | $3.74 | $4.22 | $12.62 | $23.89 | |
| Shares (basic, weighted) | 337M | 331M | 324M | 318M | 315M | 314M | 312M | 309M | 303M | 298M | 294M | 285M | |
| Shares (diluted, weighted) | 338M | 331M | 324M | 318M | 316M | 314M | 312M | 309M | 303M | 298M | 294M | 285M | |
| Depreciation & amortization | $690M | $695M | $696M | $685M | $698M | $691M | $814M | $836M | $817M | $840M | $737M | $684M | |
| EBITDA | $2.27B | $2.52B | $2.04B | $1.32B | $1.16B | -$89M | $1.9B | $2.43B | $2.48B | $2.44B | $6.07B | $9.88B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.7B | $94B | $117B | $108B | $64.9B | $114B | $176B | $145B | $130B | $123B | |
| Cost of revenue | $71.3B | $89.5B | $111B | $104B | $65.7B | $111B | $160B | $132B | $125B | $117B | |
| Gross profit | $4.34B | $4.5B | $5.54B | $4.73B | -$788M | $3.08B | $16.8B | $12.9B | $4.76B | $5.37B | |
| General & administrative | $715M | $835M | $925M | $868M | $756M | $865M | $934M | $998M | $961M | $1.04B | |
| Other operating expenses | $0 | $76M | $130M | $21M | $35M | $87M | $127M | $33M | $44M | $15M | |
| Operating expenses | $715M | $896M | $970M | $889M | $791M | $952M | $1.06B | $1.03B | $1.01B | $1.06B | |
| Operating income | $3.57B | $3.6B | $4.57B | $3.84B | -$1.58B | $2.13B | $15.7B | $11.9B | $3.76B | $4.31B | |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $293M | $0 | $0 | |
| Interest expense | $446M | $468M | $470M | $454M | $563M | $603M | $562M | $592M | $556M | $556M | |
| Other non-operating income (gains on investments, FX ...) | -$87M | -$40M | -$28M | -$47M | -$132M | -$16M | -$179M | -$100M | -$499M | $751M | |
| Total non-operating income | -$352M | -$356M | -$340M | -$350M | -$431M | -$587M | -$383M | -$90M | -$57M | -$1.31B | |
| Income before tax | $3.18B | $3.21B | $4.23B | $3.49B | -$2.01B | $1.54B | $15.3B | $11.8B | $3.7B | $3.01B | |
| Income tax | $765M | -$949M | $879M | $702M | -$903M | $255M | $3.43B | $2.62B | $692M | $759M | |
| Net income | $2.29B | $4.07B | $3.12B | $2.42B | -$1.43B | $930M | $11.5B | $8.84B | $2.77B | $2.35B | |
| EPS (basic) | $4.94 | $9.17 | $7.33 | $5.85 | -$3.50 | $2.27 | $29.08 | $24.95 | $8.58 | $7.57 | |
| EPS (diluted) | $4.94 | $9.16 | $7.29 | $5.85 | -$3.50 | $2.27 | $29.00 | $24.95 | $8.58 | $7.57 | |
| Shares (basic, weighted) | 461M | 442M | 426M | 413M | 407M | 407M | 395M | 353M | 322M | 309M | |
| Shares (diluted, weighted) | 464M | 444M | 428M | 413M | 407M | 407M | 396M | 353M | 322M | 309M | |
| Depreciation & amortization | $1.89B | $1.99B | $2.07B | $2.26B | $2.35B | $2.41B | $2.47B | $2.7B | $2.77B | $3.16B | |
| EBITDA | $5.52B | $5.59B | $6.67B | $6.14B | $904M | $4.55B | $18.3B | $14.7B | $7.03B | $6.72B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01