Valero Energy (VLO) FY2021 results: revenue $114.0 billion, up 75.6% on the year
Valero Energy Corp. (VLO) reported revenue of $114.0 billion for fiscal 2021, the year ended 31 December 2021, up 75.6% on the year before. Net income was $930 million, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$114.0 billion
+75.6% on the year
FY2016FY2021
Operating margin
1.9%
-2.4% a year earlier
FY2016FY2021
Net income
$930 million
FY2016FY2021
Diluted EPS
$2.27
FY2016FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
5,859
948
5,531
+518.0%
Capital expenditure
2,458
2,436
2,846
+0.9%
Free cash flow
3,401
-1,488
2,685
Free cash flow margin
3.0%
-2.3%
2.5%
Cash from investing
-2,159
-2,425
-3,001
Cash from financing
-2,846
2,077
-2,997
Depreciation and amortisation
47.0
48.0
53.0
-2.1%
Share-based compensation
88.0
80.0
89.0
+10.0%
Buybacks
27.0
156
777
-82.7%
Dividends paid
1,602
1,600
1,492
+0.1%
Dividend per share
$3.92
$3.92
$3.60
0.0%
Diluted shares, weighted
407m
407m
414m
0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
18,430
18,801
21,803
-2.0%
Non-controlling interest
1,387
841
733
+64.9%
Debt
11,950
13,013
8,881
-8.2%
Operating lease liabilities
940
885
959
+6.2%
Finance lease liabilities
1,766
1,544
750
+14.4%
Other liabilities
23,415
16,690
20,738
+40.3%
Total liabilities and equity
57,888
51,774
53,864
+11.8%
Fixed assets
n/a
n/a
29,264
Goodwill
260
260
260
0.0%
Intangible assets
218
248
283
-12.1%
Securities held for sale or to maturity
0.0
n/a
n/a
Cash and equivalents
4,122
3,313
2,583
+24.4%
Receivables
9,968
4,807
8,058
+107.4%
Inventory
6,265
6,038
7,013
+3.8%
Other assets
37,055
37,108
6,403
-0.1%
Total assets
57,888
51,774
53,864
+11.8%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.