Valero Energy Corporation (VLO) — Capital Reinvestment Ratio
Valero Energy Corporation (VLO) has a Capital Reinvestment Ratio of 0.12x as of March 2026, meaning it reinvests 0% of its operating cash flow ($1.39 Billion) in capital expenditures ($160.00 Million). Check VLO tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Valero Energy Corporation Capital Reinvestment Ratio (1989–2025)
This chart tracks Valero Energy Corporation's Capital Reinvestment Ratio across 37 annual periods. For the full cash flow conversion analysis, see VLO operating cash flow.
Annual Capital Reinvestment Ratio for Valero Energy Corporation (1989–2025)
Year-by-year Capital Reinvestment Ratio for Valero Energy Corporation from 1989 to 2025. See Valero Energy Corporation free cash flow efficiency to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.14x | $5.83 Billion | $796.00 Million | ▲ +0.7% |
| 2024 | 0.14x | $6.68 Billion | $907.00 Million | ▲ +37.5% |
| 2023 | 0.10x | $9.23 Billion | $911.00 Million | ▼ -96.1% |
| 2022 | 2.54x | $661.00 Million | $1.68 Billion | ▼ -32.9% |
| 2021 | 3.79x | $439.00 Million | $1.67 Billion | ▲ +115.9% |
| 2020 | 1.76x | $1.02 Billion | $1.79 Billion | ▼ -72.3% |
| 2019 | 6.34x | $315.00 Million | $2.00 Billion | ▲ +1237.4% |
| 2018 | 0.47x | $4.37 Billion | $2.07 Billion | ▲ +88.4% |
| 2017 | 0.25x | $5.48 Billion | $1.38 Billion | ▼ -5.1% |
| 2016 | 0.27x | $4.82 Billion | $1.28 Billion | ▼ -8.1% |
| 2015 | 0.29x | $5.61 Billion | $1.62 Billion | ▼ -43.2% |
| 2014 | 0.51x | $4.24 Billion | $2.15 Billion | ▲ +33.2% |
| 2013 | 0.38x | $5.56 Billion | $2.12 Billion | ▼ -31.5% |
| 2012 | 0.56x | $5.27 Billion | $2.93 Billion | ▼ -4.6% |
| 2011 | 0.58x | $4.04 Billion | $2.35 Billion | ▲ +2.7% |
| 2010 | 0.57x | $3.04 Billion | $1.73 Billion | ▼ -55.5% |
| 2009 | 1.28x | $1.82 Billion | $2.33 Billion | ▲ +36.9% |
| 2008 | 0.93x | $2.99 Billion | $2.79 Billion | ▲ +116.9% |
| 2007 | 0.43x | $5.26 Billion | $2.26 Billion | ▼ -14.9% |
| 2006 | 0.50x | $6.31 Billion | $3.19 Billion | ▲ +37.3% |
| 2005 | 0.37x | $5.80 Billion | $2.13 Billion | ▼ -15.8% |
| 2004 | 0.44x | $2.96 Billion | $1.29 Billion | ▼ -36.6% |
| 2003 | 0.69x | $1.42 Billion | $975.80 Million | ▼ -76.9% |
| 2002 | 2.98x | $272.30 Million | $811.20 Million | ▲ +585.4% |
| 2001 | 0.43x | $905.51 Million | $393.56 Million | ▲ +34.1% |
| 2000 | 0.32x | $601.30 Million | $194.89 Million | ▲ +40.2% |
| 1999 | 0.23x | $435.10 Million | $100.60 Million | ▼ -92.3% |
| 1998 | 3.02x | $165.80 Million | $500.70 Million | ▲ +447.3% |
| 1997 | 0.55x | $221.10 Million | $122.00 Million | ▲ +18.4% |
| 1996 | 0.47x | $275.80 Million | $128.50 Million | ▼ -41.7% |
| 1995 | 0.80x | $155.80 Million | $124.60 Million | ▼ -32.5% |
| 1994 | 1.19x | $68.10 Million | $80.70 Million | ▲ +4.9% |
| 1993 | 1.13x | $141.30 Million | $159.60 Million | ▼ -39.1% |
| 1992 | 1.85x | $152.50 Million | $282.80 Million | ▲ +47.6% |
| 1991 | 1.26x | $182.80 Million | $229.70 Million | ▲ +79.1% |
| 1990 | 0.70x | $196.40 Million | $137.80 Million | ▼ -17.5% |
| 1989 | 0.85x | $43.40 Million | $36.90 Million | — |