Valero Energy (VLO) stock
Energy · Oil & Gas Refining & Marketing
Valero Energy (VLO) is an Oil & Gas Refining & Marketing company in the Energy sector, headquartered in San Antonio, Texas. As of October 23, 2026, VLO closed at $419.28, a market capitalization of $120.72 billion, the 102nd largest company in the S&P 500. Over the last twelve months it generated $146.58 billion in revenue (+52% year over year) and $10.12 billion in free cash flow. The stock trades at 9.5x trailing earnings and 8.1x forward earnings.
- 1-year total return: +147.3% (dividends reinvested)
- 5-year return: +43.3% a year
- 52-week range: $159.90 – $461.52
- Gross margin 19.5%, operating margin 19.7%
- Dividend yield: 1.14%, 3 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 5th largest of 21 Energy stocks in the S&P 500
VLO price chart
1Y price change: +142.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| VLO | +11.6% | +161.4% | +147.3% | +51.6% | +43.3% | +27.1% | +13.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1982.
VLO key statistics
- Market cap
- $120.7B
- #102 in S&P 500
- P/E (TTM)
- 9.5x
- Forward P/E
- 8.1x
- EPS (TTM)
- $43.97
- Revenue (TTM)
- $146.6B
- +52%
- Free cash flow
- $10.1B
- Gross margin
- 19.5%
- Operating margin
- 19.7%
- Return on equity
- —
- Dividend yield
- 1.14%
- 52-week range
- $159.90 – $461.52
- Beta
- 0.59
- Price / sales
- 0.8x
- EV / EBITDA
- 6.1x
- Debt / equity
- 0.40x
- Employees
- 9,785
VLO report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth51.9%A
- Gross margin19.5%D
- Operating margin19.7%C
- FCF margin6.9%D
- Return on equity——
- Net debt / EBITDA0.2xB
- Forward P/E8.1xA
- PEG ratio1.8xC
- Shareholder yield3.3%B
- Share count change / yr-5.4%A
Valero Energy financials
Revenue went from $75.7B in fiscal 2016 to $122.7B in fiscal 2025, growing 5.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.7B | $94.0B | $117.0B | $108.3B | $64.9B | $114.0B | $176.4B | $144.8B | $129.9B | $122.7B |
| Gross profit | $4.3B | $4.5B | $5.6B | $4.8B | -$740.0M | $3.1B | $16.8B | $12.9B | $4.8B | $5.4B |
| Operating income | $3.5B | $3.6B | $4.6B | $3.8B | -$1.6B | $2.1B | $15.7B | $11.9B | $3.8B | $3.2B |
| Net income | $2.3B | $4.1B | $3.1B | $2.4B | -$1.4B | $930.0M | $11.5B | $8.8B | $2.8B | $2.3B |
| EPS (diluted) | $4.94 | $9.16 | $7.29 | $5.84 | $-3.50 | $2.27 | $29.04 | $24.92 | $8.58 | $7.57 |
| Free cash flow | $3.5B | $4.1B | $995.0M | $2.7B | -$1.5B | $3.4B | $9.8B | $7.3B | $4.6B | — |
| Buybacks | $1.3B | $1.4B | $1.7B | $777.0M | $156.0M | $27.0M | $4.6B | $5.1B | $2.9B | $2.6B |
| Dividends paid | $1.1B | $1.2B | $1.4B | $1.5B | $1.6B | $1.6B | $1.6B | $1.5B | $1.4B | $1.4B |
| Diluted shares | 464.0M | 444.0M | 428.0M | 414.0M | 407.0M | 407.0M | 396.0M | 353.0M | 322.0M | 309.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into VLO?
A reverse DCF asks what growth the current price requires. With an enterprise value of $124.2B and $10.1B of trailing free cash flow, Valero Energy needs to grow free cash flow about -1.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 11.5% a year over the last five years.
P/E ratio history
Current 55.4x vs. median 12.4x (10th–90th percentile 4.9x–48.4x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
VLO dividend
- Dividend yield
- 1.14%
- Annual dividend
- $4.80
- Years of increases
- 3
- 5-yr dividend growth
- 2.9%
- per year
- Payout ratio
- 19%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
VLO analyst price targets
19 analysts' average 12-month target is $423.53 (+1% vs. $419.28). Targets range from $238.00 to $530.00. 45% rate it a buy.
VLO earnings
Next report: January 28, 2027. Valero Energy has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 22, 2026 | $21.23 | $23.90 | +12.6% |
| Jul 30, 2026 | $10.13 | $12.54 | +23.8% |
| Apr 30, 2026 | $3.16 | $4.22 | +33.5% |
| Jan 29, 2026 | $3.27 | $3.82 | +16.9% |
| Oct 23, 2025 | $3.05 | $3.66 | +19.9% |
| Jul 24, 2025 | $1.77 | $2.28 | +29.1% |
| Apr 24, 2025 | $0.41 | $0.89 | +117.3% |
| Jan 30, 2025 | $0.06 | $0.64 | +970.8% |
Stocks like VLO
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MPC Marathon Petroleum | -0.45% | +137% | $128.4B | 15.8x | Compare |
 PSX Phillips 66 | -0.51% | +115% | $113.5B | 16.2x | Compare |
 XOM ExxonMobil | +2.79% | +63% | $753.3B | 23.6x | Compare |
 CVX Chevron | +2.88% | +55% | $457.5B | 22.4x | Compare |
 COP ConocoPhillips | +3.55% | +73% | $181.2B | 20.0x | Compare |
 WMB Williams Companies | +1.51% | +25% | $87.7B | 28.6x | Compare |
 EOG EOG Resources | +3.21% | +56% | $85.5B | 12.7x | Compare |
 SLB SLB | +7.08% | +51% | $78.3B | 25.6x | Compare |
VLO news
- Valero (VLO) Stock Price Cools After Q3 Earnings Cash Surge · Oct 23, 2026
- How Earnings Beat Will Impact Valero Energy (VLO) Stock · Oct 23, 2026
- Valero Energy Corporation (VLO): Benefiting From Tight Fuel Markets · Oct 23, 2026
- 3 Buy-Rated Stocks Breaking Quarterly Records: VLO, RTX, IBKR · Oct 23, 2026
- Valero’s Refining Margins Nearly Tripled. These 3 Dividend Stocks Could Benefit · Oct 23, 2026
VLO stock FAQ
What is VLO's market cap?
Valero Energy's market capitalization is $120.72 billion as of October 23, 2026, ranking 102nd in the S&P 500.
What is VLO's P/E ratio?
VLO trades at a trailing price-to-earnings ratio of 9.5x and a forward P/E of 8.1x. Its median P/E over the period we track is 12.4x.
Does VLO pay a dividend?
Yes. Valero Energy pays $4.80 per share a year, a 1.14% yield. It has raised its dividend 3 years in a row. Dividends grew 2.9% a year over the last five years.
How much has VLO stock returned?
Including reinvested dividends, VLO returned +147.3% over one year, +43.3% a year over five years, +27.1% a year over ten years through October 23, 2026.
Is VLO stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Valero Energy must grow free cash flow about -1% a year for the next decade. Its free cash flow grew 11% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the VLO price target?
19 analysts cover VLO with an average 12-month price target of $423.53, +1% from the current price. 45% of them rate it a buy.
When does VLO report earnings?
Valero Energy is expected to report earnings on January 28, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does Valero Energy have?
Valero Energy has about 9,785 full-time employees, or $15.0 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology