Explain this page
Arphra AIPlain-English read on Valero Energy Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
BSolid
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin4.4%
Operating margin3.5%
Net margin1.9%
ROE8.8%
ROA4.0%
ROIC9.6%
Liquidity & leverage
Current ratio1.65×
Quick ratio1.11×
Debt / equity0.44×
Net debt / EBITDA1.04×
Interest coverage8×
Efficiency & per-share
Asset turnover2.12×
Inventory days24
Days sales out.29
FCF / share$16.28
Book value / share$86.10
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $39.47B | $50.3B | — | — | — | — |
| Enterprise value | — | — | — | $46.36B | $57.32B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 0.36 | 0.47 | — | — | — | — |
| EV / FCF | — | — | — | 8.03 | 11.40 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +7.02% | +4.67% | — | — | — | — |
| Free cash flow yield | — | — | — | +14.63% | +10.00% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +2.70% | +9.50% | +8.90% | +3.66% | +4.38% | +5.51% | +5.59% | +5.64% | +5.74% |
| Operating margin | +1.87% | +8.90% | +8.19% | +2.89% | +3.51% | +4.87% | +5.00% | +4.94% | +4.86% |
| EBITDA margin | +3.99% | +10.40% | +10.13% | +5.41% | +5.48% | +7.11% | +7.18% | +7.00% | +6.89% |
| EBIT margin | +1.88% | +9.00% | +8.26% | +3.28% | +2.90% | +4.77% | +4.90% | +4.87% | +4.92% |
| Pre-tax margin | +1.35% | +8.68% | +8.13% | +2.85% | +2.45% | +4.44% | +4.36% | +4.57% | +4.35% |
| Net margin | +0.82% | +6.54% | +6.10% | +2.13% | +1.91% | +3.41% | +3.36% | +3.37% | +3.33% |
| Cost structure | |||||||||
| Cost of revenue / sales | +97.30% | +90.50% | +91.10% | +96.34% | +95.62% | +92.74% | +93.84% | +95.06% | +96.26% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +0.76% | +0.53% | +0.69% | +0.74% | +0.85% | +0.75% | +0.76% | +0.77% | +0.75% |
| Effective tax rate | +16.53% | +22.39% | +22.26% | +18.71% | +25.26% | +22.57% | +22.23% | +21.07% | +22.72% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +4.69% | +45.26% | +30.97% | +10.07% | +8.83% | +16.11% | +15.97% | +16.12% | +15.81% |
| Return on assets (ROA) | +1.61% | +18.90% | +14.01% | +4.61% | +4.05% | +7.33% | +7.45% | +7.44% | +7.21% |
| Return on capital (ROC) | +6.10% | +41.08% | +28.81% | +9.61% | +11.26% | +16.22% | +16.69% | +16.34% | +16.10% |
| Return on invested capital (ROIC) | +2.66% | +30.19% | +21.46% | +7.09% | +6.13% | +11.34% | +11.20% | +11.16% | +11.03% |
| Asset turnover | +196.89% | +289.24% | +229.58% | +215.95% | +211.57% | +215.21% | +221.85% | +220.59% | +216.72% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +0.82% | +6.54% | +6.10% | +2.13% | +1.91% | +3.41% | +3.36% | +3.37% | +3.33% |
| Asset turnover (× revenue / assets) | +196.89% | +289.24% | +229.58% | +215.95% | +211.57% | +215.21% | +221.85% | +220.59% | +216.72% |
| Equity multiplier (× assets / equity) | +292.11% | +239.45% | +221.06% | +218.53% | +217.96% | +219.74% | +214.49% | +216.51% | +219.10% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.97 | 2.89 | 2.30 | 2.16 | 2.12 | 2.15 | 2.22 | 2.21 | 2.17 |
| Fixed-asset turnover | 3.55 | 5.50 | 4.62 | 4.27 | 4.28 | — | — | — | — |
| Inventory turnover | 17.70 | 23.64 | 17.39 | 16.12 | 15.45 | — | — | — | — |
| Receivables turnover | 10.98 | 14.80 | 11.56 | 12.13 | 12.42 | — | — | — | — |
| Payables turnover | 8.88 | 12.54 | 10.49 | 10.35 | 11.57 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 33.23 | 24.66 | 31.58 | 30.09 | 29.38 | — | — | — | — |
| Days inventory outstanding (DIO) | 20.62 | 15.44 | 20.99 | 22.64 | 23.62 | — | — | — | — |
| Days payables outstanding (DPO) | 41.13 | 29.10 | 34.78 | 35.27 | 31.54 | — | — | — | — |
| Cash conversion cycle | 12.73 | 11.00 | 17.79 | 17.46 | 21.46 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 6.30 | 1.09 | 1.04 | 2.41 | 2.48 | 1.55 | 1.65 | 1.59 | 1.67 |
| FCF / Net income | 4.51 | 0.94 | 0.94 | 2.09 | 2.14 | 1.41 | 1.42 | 1.40 | 1.45 |
| FCF margin | +3.68% | +6.18% | +5.75% | +4.45% | +4.10% | +4.80% | +4.76% | +4.74% | +4.81% |
| OCF margin | +5.14% | +7.13% | +6.38% | +5.15% | +4.75% | +5.29% | +5.53% | +5.38% | +5.56% |
| CapEx / Revenue | +1.46% | +0.95% | +0.63% | +0.70% | +0.65% | +0.66% | +0.65% | +0.66% | +0.65% |
| CapEx / D&A | 0.69 | 0.68 | 0.34 | 0.33 | 0.25 | — | — | — | — |
| Stock-based comp / Revenue | +0.08% | +0.06% | 0.00% | +0.08% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.27 | 29.00 | 24.95 | 8.58 | 7.57 | 27.98 | 20.97 | 17.97 | 33.25 |
| EPS · basic | 2.27 | 29.08 | 24.95 | 8.58 | 7.57 | 28.04 | 20.98 | 17.92 | 33.47 |
| Book value / share | 48.69 | 64.31 | 80.80 | 85.47 | 86.10 | 93.74 | 87.30 | 77.80 | 103.30 |
| Tangible BV / share | 47.52 | 63.15 | 79.55 | 84.19 | 84.86 | 93.74 | 87.30 | 77.80 | 103.30 |
| Sales / share | 280.04 | 445.41 | 410.10 | 403.36 | 397.05 | 443.32 | 415.42 | 371.59 | 490.49 |
| Operating CF / share | 14.40 | 31.75 | 26.14 | 20.75 | 18.85 | 23.45 | 22.98 | 19.99 | 27.28 |
| Free cash flow / share | 10.30 | 27.51 | 23.56 | 17.94 | 16.28 | 21.29 | 19.79 | 17.60 | 23.61 |
| Dividends / share | 3.94 | 3.94 | 4.11 | 4.30 | 4.55 | 4.86 | 4.34 | 4.01 | 5.32 |
| Payout ratio | +172.26% | +13.55% | +16.43% | +49.96% | +59.84% | +32.15% | +31.11% | +31.94% | +32.61% |
| Retention ratio | -72.26% | +86.45% | +83.57% | +50.04% | +40.16% | +67.85% | +68.89% | +68.06% | +67.39% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +54.75% | -17.93% | -10.28% | -5.54% | +11.70% | -5.84% | -10.90% | +30.96% | +3.54% |
| Gross profit · YoY | — | +443.51% | -23.06% | -63.07% | +12.79% | +40.56% | -4.34% | -10.17% | +33.26% | +13.76% |
| Profit | ||||||||||
| Operating income · YoY | — | +636.62% | -24.42% | -68.33% | +14.83% | +54.87% | -3.36% | -11.98% | +28.87% | +16.69% |
| EBITDA · YoY | — | +303.03% | -20.08% | -52.06% | -4.40% | +45.08% | -4.99% | -13.12% | +29.00% | +10.86% |
| Net income · YoY | — | +1139.57% | -23.36% | -68.65% | -15.23% | +98.85% | -7.25% | -10.42% | +29.21% | +23.44% |
| Operating | ||||||||||
| EBIT · YoY | — | +639.47% | -24.65% | -64.43% | -16.29% | +83.49% | -3.28% | -11.32% | +32.08% | +16.74% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +1177.53% | -13.97% | -65.61% | -11.77% | +269.67% | -25.08% | -14.28% | +85.03% | +39.87% |
| EPS · basic · YoY | — | +1181.06% | -14.20% | -65.61% | -11.77% | +270.39% | -25.19% | -14.57% | +86.79% | +39.99% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $15.13B | $12.72B | $12.64B | $11.54B | $11.7B | $12.19B | $11.54B | $10.7B | $13.75B |
| Net debt | $11B | $7.86B | $7.21B | $6.88B | $7.02B | $7.03B | $6.85B | $6.4B | $8.22B |
| Net debt / EBITDA | 2.42 | 0.43 | 0.49 | 0.98 | 1.04 | 0.72 | 0.74 | 0.80 | 0.79 |
| Debt / equity | 0.76 | 0.50 | 0.44 | 0.42 | 0.44 | 0.42 | 0.43 | 0.44 | 0.43 |
| Debt / assets | +26.13% | +20.86% | +20.04% | +19.19% | +20.18% | +19.15% | +19.85% | +20.53% | +19.79% |
| Equity / assets | +34.23% | +41.76% | +45.24% | +45.76% | +45.88% | +45.51% | +46.62% | +46.19% | +45.64% |
| Coverage | |||||||||
| EBITDA / interest expense | 7.55 | 32.64 | 24.76 | 12.64 | 12.08 | 16.81 | 16.74 | 16.72 | 15.77 |
| Operating income / interest | 3.53 | 27.92 | 20.03 | 6.75 | 7.76 | 11.52 | 11.67 | 11.80 | 11.12 |
| Interest expense | $603M | $562M | $592M | $556M | $556M | $579.76M | $553.19M | $481.29M | $658.34M |
| Liquidity | |||||||||
| Current ratio | 1.26 | 1.38 | 1.56 | 1.53 | 1.65 | — | — | — | — |
| Quick ratio | 0.86 | 0.96 | 1.07 | 0.99 | 1.03 | — | — | — | — |
| Cash ratio | 0.24 | 0.28 | 0.32 | 0.30 | 0.33 | — | — | — | — |
| Working capital | $4.31B | $6.67B | $9.42B | $8.24B | $9.1B | — | — | — | — |
| Working capital / revenue | +3.78% | +3.78% | +6.51% | +6.35% | +7.42% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 0.47x | 0.36x |
| Earnings yield | 4.7% | 7.0% |
| FCF yield | 10.0% | 14.6% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 9.9% | 11.3% |
| ROA | 4.0% | 4.6% |
| ROIC | 7.1% | 6.7% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 1.04 | 0.98 |
| Interest coverage | — | — |
| Current ratio | 1.65x | 1.53x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).