Valero Energy Corporation (VLO) - Net Assets
Based on the latest financial reports, Valero Energy Corporation (VLO) has net assets worth $26.93 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($62.14 Billion) and total liabilities ($35.21 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. Check Valero Energy Corporation (VLO) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $26.93 Billion |
| % of Total Assets | 43.34% |
| Annual Growth Rate | 10.54% |
| 5-Year Change | 34.25% |
| 10-Year Change | 27.58% |
| Growth Volatility | 30.05 |
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. See Valero Energy Corporation defensive interval ratio to measure how many days the company can operate on defensive assets alone.
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. For live valuation and market cap data, see Valero Energy Corporation market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $26.61 Billion | -3.33% |
| 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 grown by 16798.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $47.96 Billion | 202.15% |
| Common Stock | $7.00 Million | 0.03% |
| Other Comprehensive Income | $-469.00 Million | -1.98% |
| 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 |
|---|---|
|
TC Energy Corp
TO:TRP
|
$72.66 Billion |
|
Barrick Gold Corp
TO:ABX
|
$72.69 Billion |
|
Vale SA ADR
NYSE:VALE
|
$72.74 Billion |
|
ING Groep NV
AS:INGA
|
$72.74 Billion |
|
Hilton Worldwide Holdings Inc
NYSE:HLT
|
$72.11 Billion |
|
National Australia Bank Limited
F:NAL
|
$71.94 Billion |
|
ING Groep N.V
F:INNA
|
$71.79 Billion |
|
America Movil SAB de CV ADR
NYSE:AMX
|
$71.77 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.
- Dividend payments of 1,405,000,000 reduced retained earnings.
- Share repurchases of 2,598,000,000 reduced equity.
- Other comprehensive income increased equity by 803,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.35 Billion | +9.9% |
| Dividends Paid | $1.41 Billion | -5.92% |
| Share Repurchases | $2.60 Billion | -10.95% |
| Other Comprehensive Income | $803.00 Million | +3.38% |
| Other Changes | $65.00 Million | +0.27% |
| 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: 3.18x
- 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 47.31x to 3.18x 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 | $244.13 | x |
| 1986-12-31 | $2.63 | $244.13 | x |
| 1987-12-31 | $3.43 | $244.13 | x |
| 1988-12-31 | $3.54 | $244.13 | x |
| 1989-12-31 | $4.47 | $244.13 | x |
| 1990-12-31 | $4.45 | $244.13 | x |
| 1991-12-31 | $4.32 | $244.13 | x |
| 1992-12-31 | $4.92 | $244.13 | x |
| 1993-12-31 | $5.00 | $244.13 | x |
| 1994-12-31 | $6.41 | $244.13 | x |
| 1995-12-31 | $5.93 | $244.13 | x |
| 1996-12-31 | $6.16 | $244.13 | x |
| 1997-12-31 | $5.51 | $244.13 | x |
| 1998-12-31 | $4.84 | $244.13 | x |
| 1999-12-31 | $4.78 | $244.13 | x |
| 2000-12-31 | $6.31 | $244.13 | x |
| 2001-12-31 | $16.47 | $244.13 | x |
| 2002-12-31 | $9.89 | $244.13 | x |
| 2003-12-31 | $11.75 | $244.13 | x |
| 2004-12-31 | $14.13 | $244.13 | x |
| 2005-12-31 | $25.60 | $244.13 | x |
| 2006-12-31 | $29.44 | $244.13 | x |
| 2007-12-31 | $31.96 | $244.13 | x |
| 2008-12-31 | $29.81 | $244.13 | x |
| 2009-12-31 | $27.22 | $244.13 | x |
| 2010-12-31 | $26.45 | $244.13 | x |
| 2011-12-31 | $28.86 | $244.13 | x |
| 2012-12-31 | $32.43 | $244.13 | x |
| 2013-12-31 | $35.51 | $244.13 | x |
| 2014-12-31 | $39.01 | $244.13 | x |
| 2015-12-31 | $41.05 | $244.13 | x |
| 2016-12-31 | $43.16 | $244.13 | x |
| 2017-12-31 | $49.53 | $244.13 | x |
| 2018-12-31 | $50.62 | $244.13 | x |
| 2019-12-31 | $52.79 | $244.13 | x |
| 2020-12-31 | $46.19 | $244.13 | x |
| 2021-12-31 | $48.69 | $244.13 | x |
| 2022-12-31 | $64.31 | $244.13 | x |
| 2023-12-31 | $74.63 | $244.13 | x |
| 2024-12-31 | $76.12 | $244.13 | x |
| 2025-12-31 | $76.78 | $244.13 | 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: 2.12x
- • Equity Multiplier: 2.44x
- Recent ROE (9.90%) is below the historical average (10.32%), 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 | 4.69% | 0.82% | 1.97x | 2.92x | $-1.05 Billion |
| 2022 | 45.26% | 6.54% | 2.89x | 2.39x | $8.98 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% | 2.12x | 2.44x | $-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: $2,691,755,600
- Average return on equity (ROE) among peers: 9.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Valero Energy Corporation (VLO) | $26.93 Billion | 7.19% | 1.31x | $72.48 Billion |
| ARKO Petroleum Corp. (APC) | $-42.05 Billion | 0.00% | 0.00x | $245.62 Million |
| Crossamerica Partners LP (CAPL) | $94.67 Million | 19.09% | 3.14x | $830.24 Million |
| Clean Energy Fuels Corp (CLNE) | $465.04 Million | -19.28% | 1.50x | $416.22 Million |
| Cosan SA ADR (CSAN) | $48.17 Billion | 2.44% | 1.79x | $3.96 Billion |
| CVR Energy Inc (CVI) | $888.00 Million | 0.79% | 3.80x | $2.87 Billion |
| HF Sinclair Corp (DINO) | $6.51 Billion | 11.87% | 0.87x | $12.00 Billion |
| Delek US Energy Inc (DK) | $41.90 Million | -1.19% | 4.59x | $2.70 Billion |
| Delek Logistics Partners LP (DKL) | $-110.70 Million | 0.00% | 0.00x | $2.67 Billion |
| Delixy Holdings Limited Ordinary Shares (DLXY) | $1.82 Million | 63.12% | 4.72x | $3.23 Million |
| Icahn Enterprises LP (IEP) | $12.90 Billion | 15.80% | 0.81x | $4.41 Billion |
About 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