Valero Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	115,939	123,974	139,001	171,189	108,332
Revenue Growth (YoY)	-6.48%	-10.81%	-18.80%	58.02%	80.21%
Cost of Revenue	100,642	110,540	117,691	151,965	102,845
Gross Profit	15,297	13,434	21,310	19,224	5,487
Selling, General & Admin	963	871	898	926	816
Other Operating Expenses	6,735	5,944	5,753	66	87
Operating Expenses	10,556	9,589	9,352	3,465	3,260
Operating Income	4,741	3,845	11,958	15,759	2,227
Interest Expense	-556	-556	-592	-562	-603
Interest & Investment Income	-	-	-	-	188
Currency Exchange Gain (Loss)	-	-	-	-119	44
Other Non Operating Income (Expenses)	301	409	402	290	-134
EBT Excluding Unusual Items	4,486	3,698	11,768	15,368	1,722
Merger & Restructuring Charges	-1,481	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	62
Asset Writedown	-	-	-	-61	-48
Other Unusual Items	-	-	-	-	-193
Pretax Income	3,005	3,698	11,768	15,307	1,543
Income Tax Expense	759	692	2,619	3,428	255
Earnings From Continuing Operations	2,246	3,006	9,149	11,879	1,288
Minority Interest in Earnings	102	-236	-314	-351	-358
Net Income	2,348	2,770	8,835	11,528	930
Preferred Dividends & Other Adjustments	7	8	27	43	6
Net Income to Common	2,341	2,762	8,808	11,485	924
Net Income Growth	-15.24%	-68.65%	-23.36%	1139.57%	-
Shares Outstanding (Basic)	309	322	353	395	407
Shares Outstanding (Diluted)	309	322	353	396	407
Shares Change (YoY)	-4.04%	-8.78%	-10.86%	-2.70%	-
EPS (Basic)	7.58	8.58	24.95	29.08	2.27
EPS (Diluted)	7.57	8.58	24.92	29.04	2.27
EPS Growth	-11.75%	-65.58%	-14.19%	1179.29%	-
Free Cash Flow	5,030	5,776	8,318	10,893	4,194
Free Cash Flow Per Share	16.28	17.94	23.56	27.51	10.30
Dividend Per Share	4.520	4.280	4.080	3.920	3.920
Dividend Growth	5.61%	4.90%	4.08%	-	-
Gross Margin	13.19%	10.84%	15.33%	11.23%	5.07%
Operating Margin	4.09%	3.10%	8.60%	9.21%	2.06%
Profit Margin	2.02%	2.23%	6.34%	6.71%	0.85%
Free Cash Flow Margin	4.34%	4.66%	5.98%	6.36%	3.87%
EBITDA	7,599	6,619	14,659	18,209	4,584
EBITDA Margin	6.55%	5.34%	10.55%	10.64%	4.23%
D&A For EBITDA	2,858	2,774	2,701	2,450	2,357
EBIT	4,741	3,845	11,958	15,759	2,227
EBIT Margin	4.09%	3.10%	8.60%	9.21%	2.06%
Effective Tax Rate	25.26%	18.71%	22.25%	22.39%	16.53%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.