Valero Energy Corp (VLO) stock
VLONYSEPetroleum RefiningFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 28, 2026Score 21/3023% below fair value
$379.83+4.88 (+1.30%)
Close on Nov 13, 2026Market cap $105.93BP/E 8.5Yield 1.19%
Valero Energy operating margin
Operating margin is operating income as a percentage of revenue.
Valero Energy's operating margin for the twelve months ending Sep 30, 2026 was 11.5%. For fiscal 2025 it was 2.6%, against 2.9% the year before. The highest annual figure on record is 8.9% in fiscal 2022.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 2.6% | −0.3 |
| FY2024 | Dec 31, 2024 | 2.9% | −5.3 |
| FY2023 | Dec 31, 2023 | 8.2% | −0.7 |
| FY2022 | Dec 31, 2022 | 8.9% | +7.0 |
| FY2021 | Dec 31, 2021 | 1.9% | +4.3 |
| FY2020 | Dec 31, 2020 | -2.4% | −6.0 |
| FY2019 | Dec 31, 2019 | 3.5% | −0.4 |
| FY2018 | Dec 31, 2018 | 3.9% | +0.1 |
| FY2017 | Dec 31, 2017 | 3.8% | −0.9 |
| FY2016 | Dec 31, 2016 | 4.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 19.7% | +15.0 |
| Q2 FY2026 | Jun 30, 2026 | 11.7% | +8.3 |
| Q1 FY2026 | Mar 31, 2026 | 5.3% | +8.3 |
| Q4 FY2025 | Dec 31, 2025 | 5.2% | +4.1 |
| Q3 FY2025 | Sep 30, 2025 | 4.7% | +3.1 |
| Q2 FY2025 | Jun 30, 2025 | 3.3% | −0.2 |
| Q1 FY2025 | Mar 31, 2025 | -3.0% | −8.3 |
| Q4 FY2024 | Dec 31, 2024 | 1.1% | −3.3 |
| Q3 FY2024 | Sep 30, 2024 | 1.5% | −7.6 |
| Q2 FY2024 | Jun 30, 2024 | 3.5% | −4.5 |
| Q1 FY2024 | Mar 31, 2024 | 5.3% | −5.8 |
| Q4 FY2023 | Dec 31, 2023 | 4.4% | −5.9 |
| Q3 FY2023 | Sep 30, 2023 | 9.1% | +0.6 |
| Q2 FY2023 | Jun 30, 2023 | 8.0% | −4.0 |
| Q1 FY2023 | Mar 31, 2023 | 11.1% | +7.5 |
| Q4 FY2022 | Dec 31, 2022 | 10.3% | +5.8 |
| Q3 FY2022 | Sep 30, 2022 | 8.5% | +6.2 |
| Q2 FY2022 | Jun 30, 2022 | 12.0% | +10.2 |
| Q1 FY2022 | Mar 31, 2022 | 3.6% | +6.8 |
| Q4 FY2021 | Dec 31, 2021 | 4.4% | +7.3 |
| Q3 FY2021 | Sep 30, 2021 | 2.3% | +6.3 |
| Q2 FY2021 | Jun 30, 2021 | 1.8% | −15.4 |
| Q1 FY2021 | Mar 31, 2021 | -3.2% | +7.1 |
| Q4 FY2020 | Dec 31, 2020 | -2.8% | −9.1 |
| Q3 FY2020 | Sep 30, 2020 | -3.9% | −7.2 |
| Q2 FY2020 | Jun 30, 2020 | 17.2% | +14.1 |
| Q1 FY2020 | Mar 31, 2020 | -10.3% | −11.6 |
| Q4 FY2019 | Dec 31, 2019 | 6.2% | +1.7 |
| Q3 FY2019 | Sep 30, 2019 | 3.2% | −0.7 |
| Q2 FY2019 | Jun 30, 2019 | 3.1% | −0.9 |
| Q1 FY2019 | Mar 31, 2019 | 1.3% | −1.8 |
| Q4 FY2018 | Dec 31, 2018 | 4.5% | +1.3 |
| Q3 FY2018 | Sep 30, 2018 | 4.0% | −1.7 |
| Q2 FY2018 | Jun 30, 2018 | 4.0% | +0.2 |
| Q1 FY2018 | Mar 31, 2018 | 3.0% | +0.6 |
| Q4 FY2017 | Dec 31, 2017 | 3.2% | – |
| Q3 FY2017 | Sep 30, 2017 | 5.7% | – |
| Q2 FY2017 | Jun 30, 2017 | 3.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 2.4% | – |
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