Valero Energy Corporation (VLO)
NYSE: VLO · Real-Time Price · USD
346.45
-4.78 (-1.36%)
At close: Nov 6, 2026, 4:00 PM EST
347.01
+0.56 (0.16%)
After-hours: Nov 6, 2026, 7:59 PM EST
Valero Energy Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 6,828 | 3,720 | 1,263 | 1,134 | 1,095 | 714 | -595 | 281 | 364 | 880 | 1,245 | 1,202 | 2,622 | 1,944 | 3,067 | 3,113 | 2,817 | 4,693 | 905 | 1,009 |
Depreciation & Amortization | 684 | 704 | 740 | 717 | 736 | 714 | 691 | 698 | 685 | 696 | 695 | 690 | 682 | 669 | 660 | 610 | 632 | 602 | 606 | 550 |
Loss (Gain) From Sale of Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 23 | - | - | - | -62 |
Asset Writedown & Restructuring Costs | - | 33 | 100 | 100 | 100 | 100 | 1,131 | - | - | - | - | - | - | - | - | 61 | - | - | - | 48 |
Loss (Gain) From Sale of Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 62 |
Other Operating Activities | -79 | 531 | -287 | -23 | -247 | -232 | -361 | 841 | 51 | 15 | 16 | 87 | -86 | 283 | 122 | 292 | 241 | -24 | -122 | 318 |
Change in Accounts Receivable | -984 | -330 | -3,707 | 506 | 731 | 345 | -457 | 180 | 2,183 | -1,058 | 257 | 322 | -1,934 | -1,156 | 2,381 | -184 | 2,728 | -1,510 | -2,653 | -1,739 |
Change in Inventory | 55 | -54 | -16 | -167 | 111 | -275 | 693 | -860 | 1,077 | -147 | -356 | 36 | -647 | 568 | -641 | 31 | 353 | -116 | -940 | -21 |
Change in Accounts Payable | -712 | 1,037 | 3,310 | -578 | -825 | -571 | -42 | 651 | -3,102 | 2,151 | -130 | -825 | 2,565 | 360 | -2,269 | -225 | -3,494 | 1,496 | 2,744 | 2,677 |
Change in Income Taxes | 1,092 | -1 | 422 | -256 | 235 | -113 | -3 | -8 | -30 | -356 | 248 | -147 | 23 | -768 | 116 | 190 | -911 | 664 | 288 | 109 |
Change in Other Net Operating Assets | 48 | -60 | -435 | 624 | -55 | 254 | -105 | -713 | 67 | 291 | -129 | -126 | 83 | -388 | -266 | 185 | -321 | 40 | -240 | -497 |
Operating Cash Flow | 6,932 | 5,580 | 1,390 | 2,057 | 1,881 | 936 | 952 | 1,070 | 1,295 | 2,472 | 1,846 | 1,239 | 3,308 | 1,512 | 3,170 | 4,096 | 2,045 | 5,845 | 588 | 2,454 |
Operating Cash Flow Growth (YoY) | 268.53% | 496.15% | 46.01% | 92.24% | 45.25% | -62.14% | -48.43% | -13.64% | -60.85% | 63.49% | -41.77% | -69.75% | 61.76% | -74.13% | 439.12% | 66.91% | 41.13% | 191.09% | - | 2456.25% |
Investing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -270 | -226 | -165 | -220 | -177 | -150 | -249 | -303 | -210 | -194 | -200 | -256 | -220 | -170 | -265 | -417 | -463 | -417 | -384 | -508 |
Sale of Property, Plant & Equipment | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 32 | - | - |
Investment in Securities | - | - | - | -5 | - | - | -1 | -10 | 8 | 32 | 22 | 55 | 86 | -74 | -29 | -95 | - | -1 | - | -1 |
Other Investing Activities | -149 | -135 | -235 | -194 | -202 | -262 | -385 | -231 | -206 | -230 | -459 | -282 | -170 | -285 | -255 | -223 | -147 | -233 | -457 | -238 |
Investing Cash Flow | -419 | -361 | -400 | -419 | -379 | -412 | -635 | -544 | -408 | -392 | -637 | -483 | -304 | -529 | -549 | -735 | -610 | -619 | -841 | -747 |
Financing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | - | 3,050 | - | - | - | 2,499 | - | - | - | 1,370 | - | - | - | 914 | - | - | - | 1,066 | - |
Total Debt Issued | 100 | 100 | 3,050 | 1,575 | 950 | 2,550 | 2,499 | 1,664 | 2,350 | 1,753 | 1,370 | 84 | 532 | 890 | 914 | 557 | 752 | 778 | 1,066 | 1,699 |
Long-Term Debt Repaid | - | - | -2,175 | - | - | - | -2,116 | - | - | - | -1,725 | - | - | - | -1,151 | - | - | - | -1,856 | - |
Total Debt Repaid | -688 | -269 | -2,175 | -1,755 | -1,023 | -2,774 | -2,116 | -1,732 | -2,410 | -1,918 | -1,725 | -78 | -451 | -1,002 | -1,151 | -960 | -2,025 | -1,122 | -1,856 | -2,359 |
Net Debt Issued (Repaid) | -588 | -169 | 875 | -180 | -73 | -224 | 383 | -68 | -60 | -165 | -355 | 6 | 81 | -112 | -237 | -403 | -1,273 | -344 | -790 | -660 |
Repurchase of Common Stock | -3,362 | -2,288 | -573 | -1,064 | -922 | -366 | -274 | -308 | -560 | -1,033 | -1,023 | -956 | -1,787 | -942 | -1,451 | -1,808 | -877 | -1,748 | -144 | -12 |
Common Dividends Paid | -345 | -355 | -359 | -344 | -351 | -354 | -356 | -339 | -342 | -347 | -356 | -346 | -360 | -367 | -379 | -376 | -386 | -399 | -401 | -401 |
Other Financing Activities | -230 | -221 | 181 | -164 | 147 | 95 | -135 | -69 | -112 | -2 | 90 | - | -59 | -101 | 69 | 7 | -91 | 77 | 107 | -34 |
Financing Cash Flow | -4,525 | -3,033 | 124 | -1,752 | -1,199 | -849 | -382 | -784 | -1,074 | -1,547 | -1,644 | -1,296 | -2,125 | -1,522 | -1,998 | -2,580 | -2,627 | -2,414 | -1,228 | -1,107 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -21 | -44 | -67 | 38 | -74 | 230 | 43 | -267 | 127 | -36 | -72 | 133 | -123 | 93 | 36 | 112 | -231 | -58 | -3 | 24 |
Net Cash Flow | 1,967 | 2,142 | 1,047 | -76 | 229 | -95 | -22 | -525 | -60 | 497 | -507 | -407 | 756 | -446 | 659 | 893 | -1,423 | 2,754 | -1,484 | 624 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 6,662 | 5,354 | 1,225 | 1,837 | 1,704 | 786 | 703 | 767 | 1,085 | 2,278 | 1,646 | 983 | 3,088 | 1,342 | 2,905 | 3,679 | 1,582 | 5,428 | 204 | 1,946 |
Free Cash Flow Growth (YoY) | 290.96% | 581.17% | 74.25% | 139.50% | 57.05% | -65.50% | -57.29% | -21.97% | -64.86% | 69.75% | -43.34% | -73.28% | 95.20% | -75.28% | 1324.02% | 89.05% | 60.45% | 228.37% | - | - |
Free Cash Flow Margin | 14.99% | 12.50% | 4.00% | 6.42% | 5.62% | 2.79% | 2.44% | 2.62% | 3.46% | 6.90% | 5.42% | 2.89% | 8.36% | 4.06% | 8.30% | 9.10% | 3.66% | 10.77% | 0.55% | 5.66% |
Free Cash Flow Per Share | 23.38 | 18.21 | 4.11 | 6.06 | 5.51 | 2.52 | 2.24 | 2.43 | 3.41 | 7.03 | 4.97 | 2.91 | 8.85 | 3.75 | 7.87 | 9.66 | 4.06 | 13.44 | 0.50 | 4.77 |
Levered Free Cash Flow | 5,750 | 4,156 | 1,962 | 711.75 | 1,587 | 525.75 | 894.88 | 445.88 | 752.25 | 2,108 | 1,772 | 159.25 | 2,952 | 989.13 | 2,369 | 2,216 | 1,029 | 5,109 | 592.38 | 1,406 |
Unlevered Free Cash Flow | 5,840 | 4,246 | 2,049 | 798.63 | 1,674 | 613.88 | 980.5 | 530.25 | 840.38 | 2,195 | 1,859 | 252.38 | 3,045 | 1,082 | 2,460 | 2,301 | 1,116 | 5,198 | 683 | 1,501 |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 114 | 168 | 96 | 171 | 99 | 179 | 84 | 182 | 91 | 183 | 100 | 190 | 99 | 191 | 82 | 187 | 92 | 198 | 93 | 598 |
Cash Income Tax Paid | 1,050 | 767 | 63 | 301 | 115 | 248 | 35 | 8 | 176 | 556 | 103 | 396 | 688 | 1,794 | 616 | 658 | 1,714 | 712 | 204 | - |
Change in Working Capital | -501 | 592 | -426 | 129 | 197 | -360 | 86 | -750 | 195 | 881 | -110 | -740 | 90 | -1,384 | -679 | -3 | -1,645 | 574 | -801 | 529 |