Valero Energy (VLO) FY2022 results: revenue $176.4 billion, up 54.8% on the year
Valero Energy Corp. (VLO) reported revenue of $176.4 billion for fiscal 2022, the year ended 31 December 2022, up 54.8% on the year before. Net income was $11.5 billion, up 1139.6%, and diluted earnings per share $29.04. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$176.4 billion
+54.8% on the year
FY2016FY2022
Operating margin
8.9%
1.9% a year earlier
FY2016FY2022
Net income
$11.5 billion
+1,139.6% on the year
FY2016FY2022
Diluted EPS
$29.04
+1,179.3% on the year
FY2016FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
12,574
5,859
948
+114.6%
Capital expenditure
2,737
2,458
2,436
+11.4%
Free cash flow
9,837
3,401
-1,488
+189.2%
Free cash flow margin
5.6%
3.0%
-2.3%
Cash from investing
-2,805
-2,159
-2,425
Cash from financing
-8,849
-2,846
2,077
Depreciation and amortisation
45.0
47.0
48.0
-4.3%
Share-based compensation
103
88.0
80.0
+17.0%
Buybacks
4,577
27.0
156
+16,851.9%
Dividends paid
1,562
1,602
1,600
-2.5%
Dividend per share
$3.92
$3.92
$3.92
0.0%
Diluted shares, weighted
396m
407m
407m
-2.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
23,561
18,430
18,801
+27.8%
Non-controlling interest
1,907
1,387
841
+37.5%
Debt
9,241
11,950
13,013
-22.7%
Operating lease liabilities
776
940
885
-17.4%
Finance lease liabilities
2,146
1,766
1,544
+21.5%
Other liabilities
23,351
23,415
16,690
-0.3%
Total liabilities and equity
60,982
57,888
51,774
+5.3%
Goodwill
260
260
260
0.0%
Intangible assets
202
218
248
-7.3%
Securities held for sale or to maturity
n/a
0.0
n/a
Cash and equivalents
4,862
4,122
3,313
+18.0%
Receivables
10,761
9,968
4,807
+8.0%
Inventory
6,752
6,265
6,038
+7.8%
Other assets
38,145
37,055
37,108
+2.9%
Total assets
60,982
57,888
51,774
+5.3%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.