Valero Energy Corporation
Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for… Read more
Valero Energy Corporation (VLO) - Net Assets
Latest net assets as of December 2025: $23.73 Billion USD
Based on the latest financial reports, Valero Energy Corporation (VLO) has net assets worth $23.73 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($47.50 Billion) and total liabilities ($23.78 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $23.73 Billion |
| % of Total Assets | 49.94% |
| Annual Growth Rate | 10.23% |
| 5-Year Change | 19.72% |
| 10-Year Change | 13.77% |
| Growth Volatility | 30.23 |
Valero Energy Corporation - Net Assets Trend (1985–2025)
This chart illustrates how Valero Energy Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Valero Energy Corporation (1985–2025)
The table below shows the annual net assets of Valero Energy Corporation from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $23.73 Billion | -13.79% |
| 2024-12-31 | $27.52 Billion | -3.52% |
| 2023-12-31 | $28.52 Billion | +12.00% |
| 2022-12-31 | $25.47 Billion | +28.52% |
| 2021-12-31 | $19.82 Billion | +0.89% |
| 2020-12-31 | $19.64 Billion | -12.84% |
| 2019-12-31 | $22.54 Billion | -0.86% |
| 2018-12-31 | $22.73 Billion | -0.74% |
| 2017-12-31 | $22.90 Billion | +9.81% |
| 2016-12-31 | $20.85 Billion | -2.34% |
| 2015-12-31 | $21.35 Billion | +0.52% |
| 2014-12-31 | $21.24 Billion | +6.51% |
| 2013-12-31 | $19.95 Billion | +10.23% |
| 2012-12-31 | $18.09 Billion | +10.03% |
| 2011-12-31 | $16.45 Billion | +9.45% |
| 2010-12-31 | $15.03 Billion | +2.04% |
| 2009-12-31 | $14.72 Billion | -5.73% |
| 2008-12-31 | $15.62 Billion | -15.60% |
| 2007-12-31 | $18.51 Billion | -0.53% |
| 2006-12-31 | $18.61 Billion | +23.62% |
| 2005-12-31 | $15.05 Billion | +93.00% |
| 2004-12-31 | $7.80 Billion | +35.97% |
| 2003-12-31 | $5.74 Billion | +29.63% |
| 2002-12-31 | $4.42 Billion | +2.46% |
| 2001-12-31 | $4.32 Billion | +154.08% |
| 2000-12-31 | $1.70 Billion | +56.67% |
| 1999-12-31 | $1.08 Billion | -0.05% |
| 1998-12-31 | $1.09 Billion | -6.34% |
| 1997-12-31 | $1.16 Billion | +6.65% |
| 1996-12-31 | $1.09 Billion | +4.39% |
| 1995-12-31 | $1.04 Billion | +1.52% |
| 1994-12-31 | $1.03 Billion | +19.75% |
| 1993-12-31 | $856.10 Million | +2.43% |
| 1992-12-31 | $835.80 Million | +18.96% |
| 1991-12-31 | $702.60 Million | +4.04% |
| 1990-12-31 | $675.30 Million | +27.20% |
| 1989-12-31 | $530.90 Million | +4.53% |
| 1988-12-31 | $507.90 Million | +3.15% |
| 1987-12-31 | $492.40 Million | +30.51% |
| 1986-12-31 | $377.30 Million | -21.87% |
| 1985-12-31 | $482.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Valero Energy Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $23.73 Billion | 100.00% |
| Total Equity | $23.73 Billion | 100.00% |
Valero Energy Corporation Competitors by Market Cap
The table below lists competitors of Valero Energy Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Air Products and Chemicals Inc
NYSE:APD
|
$62.29 Billion |
|
DoorDash, Inc. Class A Common Stock
NASDAQ:DASH
|
$62.34 Billion |
|
Sempra
LSE:0L5A
|
$62.47 Billion |
|
Tokio Marine Holdings Inc
PINK:TKOMY
|
$62.70 Billion |
|
ENEL Societa per Azioni
PINK:ENLAY
|
$61.90 Billion |
|
Motorola Solutions Inc
NYSE:MSI
|
$61.87 Billion |
|
EssilorLuxottica S. A.
PA:EL
|
$61.46 Billion |
|
Energy Transfer LP
NYSE:ET
|
$61.45 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Valero Energy Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 24,512,000,000 to 23,725,000,000, a change of -787,000,000 (-3.2%).
- Net income of 2,348,000,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 1,272,000,000.
- Other factors decreased equity by 4,407,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.35 Billion | +9.9% |
| Other Comprehensive Income | $1.27 Billion | +5.36% |
| Other Changes | $-4.41 Billion | -18.58% |
| Total Change | $- | -3.21% |
Book Value vs Market Value Analysis
This analysis compares Valero Energy Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.03x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 45.07x to 3.03x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $5.16 | $232.57 | x |
| 1986-12-31 | $2.63 | $232.57 | x |
| 1987-12-31 | $3.43 | $232.57 | x |
| 1988-12-31 | $3.54 | $232.57 | x |
| 1989-12-31 | $4.47 | $232.57 | x |
| 1990-12-31 | $4.45 | $232.57 | x |
| 1991-12-31 | $4.32 | $232.57 | x |
| 1992-12-31 | $4.92 | $232.57 | x |
| 1993-12-31 | $5.00 | $232.57 | x |
| 1994-12-31 | $6.41 | $232.57 | x |
| 1995-12-31 | $5.93 | $232.57 | x |
| 1996-12-31 | $6.16 | $232.57 | x |
| 1997-12-31 | $5.51 | $232.57 | x |
| 1998-12-31 | $4.84 | $232.57 | x |
| 1999-12-31 | $4.78 | $232.57 | x |
| 2000-12-31 | $6.31 | $232.57 | x |
| 2001-12-31 | $16.47 | $232.57 | x |
| 2002-12-31 | $9.89 | $232.57 | x |
| 2003-12-31 | $11.75 | $232.57 | x |
| 2004-12-31 | $14.13 | $232.57 | x |
| 2005-12-31 | $25.60 | $232.57 | x |
| 2006-12-31 | $29.44 | $232.57 | x |
| 2007-12-31 | $31.96 | $232.57 | x |
| 2008-12-31 | $29.81 | $232.57 | x |
| 2009-12-31 | $27.22 | $232.57 | x |
| 2010-12-31 | $26.45 | $232.57 | x |
| 2011-12-31 | $28.86 | $232.57 | x |
| 2012-12-31 | $32.43 | $232.57 | x |
| 2013-12-31 | $35.51 | $232.57 | x |
| 2014-12-31 | $39.01 | $232.57 | x |
| 2015-12-31 | $41.05 | $232.57 | x |
| 2016-12-31 | $43.16 | $232.57 | x |
| 2017-12-31 | $49.53 | $232.57 | x |
| 2018-12-31 | $50.62 | $232.57 | x |
| 2019-12-31 | $52.79 | $232.57 | x |
| 2020-12-31 | $46.19 | $232.57 | x |
| 2021-12-31 | $45.28 | $232.57 | x |
| 2022-12-31 | $59.50 | $232.57 | x |
| 2023-12-31 | $74.63 | $232.57 | x |
| 2024-12-31 | $76.12 | $232.57 | x |
| 2025-12-31 | $76.78 | $232.57 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Valero Energy Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.90%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.91%
- • Asset Turnover: 2.58x
- • Equity Multiplier: 2.00x
- Recent ROE (9.90%) is below the historical average (10.42%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 7.19% | 1.30% | 1.33x | 4.13x | $-13.59 Million |
| 1986 | -26.48% | -5.31% | 1.11x | 4.50x | $-137.63 Million |
| 1987 | 3.57% | 2.80% | 0.65x | 1.96x | $-31.64 Million |
| 1988 | 6.02% | 3.97% | 0.83x | 1.82x | $-20.19 Million |
| 1989 | 7.82% | 4.41% | 0.93x | 1.92x | $-11.59 Million |
| 1990 | 14.02% | 8.10% | 0.93x | 1.86x | $27.17 Million |
| 1991 | 14.05% | 9.75% | 0.68x | 2.11x | $28.44 Million |
| 1992 | 10.04% | 6.80% | 0.70x | 2.10x | $320.00K |
| 1993 | 4.25% | 2.98% | 0.69x | 2.06x | $-49.21 Million |
| 1994 | 2.62% | 1.46% | 0.65x | 2.76x | $-75.62 Million |
| 1995 | 5.75% | 1.98% | 1.05x | 2.76x | $-44.28 Million |
| 1996 | 6.69% | 1.46% | 1.58x | 2.90x | $-35.95 Million |
| 1997 | 8.29% | 1.67% | 2.31x | 2.15x | $-19.78 Million |
| 1998 | -4.36% | -0.85% | 2.03x | 2.51x | $-155.83 Million |
| 1999 | 1.32% | 0.18% | 2.67x | 2.75x | $-94.18 Million |
| 2000 | 22.21% | 2.31% | 3.41x | 2.82x | $186.41 Million |
| 2001 | 13.41% | 3.76% | 1.04x | 3.42x | $143.30 Million |
| 2002 | 2.12% | 0.34% | 1.86x | 3.36x | $-339.33 Million |
| 2003 | 10.84% | 1.64% | 2.42x | 2.73x | $47.98 Million |
| 2004 | 23.12% | 3.30% | 2.82x | 2.49x | $1.02 Billion |
| 2005 | 23.85% | 4.37% | 2.51x | 2.17x | $2.08 Billion |
| 2006 | 29.36% | 5.95% | 2.43x | 2.03x | $3.60 Billion |
| 2007 | 28.28% | 5.49% | 2.23x | 2.31x | $3.38 Billion |
| 2008 | -7.24% | -0.95% | 3.46x | 2.20x | $-2.69 Billion |
| 2009 | -13.46% | -2.91% | 1.91x | 2.42x | $-3.45 Billion |
| 2010 | 2.16% | 0.39% | 2.19x | 2.50x | $-1.18 Billion |
| 2011 | 12.73% | 1.66% | 2.94x | 2.61x | $447.70 Million |
| 2012 | 11.55% | 1.50% | 3.13x | 2.47x | $279.80 Million |
| 2013 | 13.98% | 1.97% | 2.92x | 2.43x | $774.00 Million |
| 2014 | 17.56% | 2.77% | 2.87x | 2.20x | $1.56 Billion |
| 2015 | 19.44% | 4.54% | 1.98x | 2.16x | $1.94 Billion |
| 2016 | 11.43% | 3.03% | 1.64x | 2.31x | $286.60 Million |
| 2017 | 18.48% | 4.33% | 1.87x | 2.28x | $1.87 Billion |
| 2018 | 14.41% | 2.67% | 2.33x | 2.31x | $955.30 Million |
| 2019 | 11.11% | 2.24% | 2.01x | 2.47x | $241.70 Million |
| 2020 | -7.58% | -2.20% | 1.25x | 2.75x | $-3.31 Billion |
| 2021 | 5.05% | 0.82% | 1.97x | 3.14x | $-913.00 Million |
| 2022 | 48.93% | 6.54% | 2.89x | 2.59x | $9.17 Billion |
| 2023 | 33.53% | 6.10% | 2.30x | 2.39x | $6.20 Billion |
| 2024 | 11.30% | 2.13% | 2.16x | 2.45x | $318.80 Million |
| 2025 | 9.90% | 1.91% | 2.58x | 2.00x | $-24.50 Million |
Industry Comparison
This section compares Valero Energy Corporation's net assets metrics with peer companies in the Oil & Gas Refining & Marketing industry.
Industry Context
- Industry: Oil & Gas Refining & Marketing
- Average net assets among peers: $1,009,540,578
- Average return on equity (ROE) among peers: -3.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Valero Energy Corporation (VLO) | $23.73 Billion | 7.19% | 1.00x | $62.18 Billion |
| Adams Resources & Energy Inc (AE) | $81.76 Million | -6.81% | 1.58x | $82.94 Million |
| Blue Dolphin Energy Co (BDCO) | $27.97 Million | 56.35% | 1.16x | $3.39 Million |
| Blue Earth Resources Inc (BERI) | $681.30K | -5.13% | 0.08x | $508.37 |
| Crossamerica Partners LP (CAPL) | $94.67 Million | 19.09% | 3.14x | $389.08 Million |
| China HK Power Smart Energy Group Limited (CHNTF) | $94.09 Million | -177.69% | 13.22x | $21.56 Million |
| Clean Energy Fuels Corp (CLNE) | $230.93 Million | -3.85% | 0.08x | $368.99 Million |
| CVR Energy Inc (CVI) | $791.00 Million | 58.53% | 4.21x | $827.40 Million |
| DCC plc (DCCPF) | $2.43 Billion | 10.79% | 1.91x | $6.39 Billion |
| HF Sinclair Corp (DINO) | $5.81 Billion | 12.74% | 0.44x | $9.64 Billion |
| Delek US Energy Inc (DK) | $531.00 Million | 0.13% | 1.30x | $2.40 Billion |