Valero Energy (VLO) FY2024 results: revenue $129.9 billion, down 10.3% on the year
Valero Energy Corp. (VLO) reported revenue of $129.9 billion for fiscal 2024, the year ended 31 December 2024, down 10.3% on the year before. Net income was $2.8 billion, down 68.6%, and diluted earnings per share $8.58. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.
Revenue
$129.9 billion
-10.3% on the year
FY2017FY2024
Operating margin
2.9%
8.2% a year earlier
FY2017FY2024
Net income
$2.8 billion
-68.6% on the year
FY2017FY2024
Diluted EPS
$8.58
-65.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
6,683
9,229
12,574
-27.6%
Capital expenditure
2,057
1,916
2,737
+7.4%
Free cash flow
4,626
7,313
9,837
-36.7%
Free cash flow margin
3.6%
5.1%
5.6%
Cash from investing
-1,981
-1,865
-2,805
Cash from financing
-5,049
-6,941
-8,849
Depreciation and amortisation
45.0
43.0
45.0
+4.7%
Share-based compensation
100
107
103
-6.5%
Buybacks
2,875
5,136
4,577
-44.0%
Dividends paid
1,384
1,452
1,562
-4.7%
Dividend per share
$4.28
$4.08
$3.92
+4.9%
Diluted shares, weighted
322m
353m
396m
-8.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
24,512
26,346
23,561
-7.0%
Non-controlling interest
3,009
2,178
1,907
+38.2%
Debt
8,085
9,218
9,241
-12.3%
Operating lease liabilities
699
753
776
-7.2%
Finance lease liabilities
2,134
2,097
2,146
+1.8%
Other liabilities
21,704
22,464
23,351
-3.4%
Total liabilities and equity
60,143
63,056
60,982
-4.6%
Goodwill
260
260
260
0.0%
Intangible assets
151
183
202
-17.5%
Cash and equivalents
4,657
5,424
4,862
-14.1%
Receivables
9,731
11,038
10,761
-11.8%
Inventory
7,761
7,583
6,752
+2.3%
Other assets
37,583
38,568
38,145
-2.6%
Total assets
60,143
63,056
60,982
-4.6%
10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.