Valero Energy Corp
Close on Nov 2, 2026Market cap $109.83BP/E 15.8Yield 1.18%
Valero Energy Refining margin per barrel of throughput by Year
Refining margin per barrel of throughput ($/bbl) ($)
Valero Energy Refining margin per barrel of throughput: $12.29 in FY2025, up 15.7% from a year earlier.
Where the FY2025 figure comes from
“|| Refining margin per barrel of throughput | $ | 13.61 | $ | 8.44 | $ | 12.29 | $ | 10.62”
Source: Valero Energy Form 8-K, filed 2026-01-29 ↗
Refining segment unit economics per barrel of throughput and total dollar reconciliation ($M)
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Refining margin per barrel of throughput ($/bbl) ($) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 12.29 | +15.7% | Valero Energy Form 8-K, filed 2026-01-29 ↗ |
| FY2024 | Dec 31, 2024 | 10.62 | -39.5% | Valero Energy Form 8-K, filed 2026-01-29 ↗ |
| FY2023 | Dec 31, 2023 | 17.55 | -19.6% | Valero Energy Form 8-K, filed 2025-01-30 ↗ |
| FY2022 | Dec 31, 2022 | 21.82 | +141.4% | Valero Energy Form 8-K, filed 2024-01-25 ↗ |
| FY2021 | Dec 31, 2021 | 9.04 | +69.9% | Valero Energy Form 8-K, filed 2023-01-26 ↗ |
| FY2020 | Dec 31, 2020 | 5.32 | -44.9% | Valero Energy Form 8-K, filed 2022-01-27 ↗ |
| FY2019 | Dec 31, 2019 | 9.65 | -6.5% | Valero Energy Form 8-K, filed 2021-01-28 ↗ |
| FY2018 | Dec 31, 2018 | 10.32 | +13.2% | Valero Energy Form 8-K, filed 2020-01-30 ↗ |
| FY2017 | Dec 31, 2017 | 9.12 | +11.2% | Valero Energy Form 8-K, filed 2019-01-31 ↗ |
| FY2016 | Dec 31, 2016 | 8.20 | – | Valero Energy Form 8-K, filed 2018-02-01 ↗ |
Breakdown
What makes up refining margin per barrel of throughput
- Operating expenses (excl. D&A) per barrel of throughput ($/bbl)4.93 · FY2025
- Depreciation and amortization per barrel of throughput ($/bbl)2.53 · FY2025
- Adjusted refining operating income per barrel of throughput ($/bbl)4.83 · FY2025
- Refining margin — Total ($M, Non-GAAP)13,403 · FY2025
- Refining operating expenses (excl. D&A) — Total ($M)5,426 · FY2025
- Refining depreciation and amortization — Total ($M)2,754 · FY2025
- Refining operating income (loss) — GAAP ($M)4,040 · FY2025
- Adjusted refining operating income (loss) — Non-GAAP ($M)5,273 · FY2025
Cite this data
StockData. (2026). Valero Energy Refining margin per barrel of throughput ($), annual FY2016–FY2025 [Data set]. Compiled from Valero Energy SEC filings and investor materials. https://stockdatahq.com/stocks/vlo/kpis/er-refining-margin-per-bbl
See every metric in the Valero Energy KPI table. Data updated Oct 27, 2026.