Stock Analysis on Net
Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 30, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

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Valero Energy Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents
Receivables, net
Inventories
Prepaid expenses and other
Current assets
Property, plant, and equipment, at cost
Accumulated depreciation
Property, plant, and equipment, net
Deferred charges and other assets, net
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets fluctuated during the periods analyzed. It showed a decline from 5.33% in March 2019 to a low of 3.17% in March 2020, followed by a significant increase reaching as high as 9.23% in September 2023. Overall, there is a noticeable upward trend in cash holdings in more recent quarters, suggesting an increase in liquidity reserves.
Receivables, Net
Net receivables as a percentage of total assets demonstrated volatility, with a marked decline from 15.91% in March 2019 to a trough of 8.46% in June 2020. Subsequently, this ratio rose sharply to peak at 22.44% in June 2022 before slightly moderating. This pattern may indicate fluctuations in credit sales or collection periods over time.
Inventories
Inventory levels relative to total assets were generally stable, fluctuating between approximately 7.7% and 13.02%. The lowest point was recorded in March 2020 at 7.7%, with a steady recovery to around 12-13% by late 2023 and early 2024. The stability suggests consistent inventory management despite broader fluctuations in other working capital components.
Prepaid Expenses and Other
This category remained a small portion of total assets throughout the periods, mostly ranging between 0.67% and 1.27%. A slight upward trend appears from early 2022, increasing modestly into 2024, indicating a marginal increase in prepaid cost assets.
Current Assets
Current assets as a percentage of total assets showed a significant drop from 35.47% in March 2019 to 24.01% in March 2020. Thereafter, a gradual recovery took place, climbing back to the range of 38-42% by the end of 2023 and into 2024. This overall pattern suggests an initial contraction in liquidity assets followed by expansion.
Property, Plant, and Equipment (PPE), at Cost
The share of PPE at cost in total assets increased sharply from 81.37% in March 2019 to a peak of 95.9% in March 2020, then declined steadily to around 81-87% by mid-2024. The initial rise could indicate substantial capital investments or asset revaluations, while the subsequent decline may reflect disposals, depreciation, or shifts in asset composition.
Accumulated Depreciation
Accumulated depreciation increased in absolute terms relative to total assets, starting at -26.84% in March 2019 and reaching -37.67% by September 2024. This steady increase reflects ongoing depreciation expense accumulation, reducing the net book value of assets over time.
PPE, Net
Net PPE as a percentage of total assets showed a decrease from 54.53% in March 2019 to a range around 47-51% in recent periods. The decline is in line with rising accumulated depreciation and the normalization of PPE cost, illustrating the aging of capital assets and lessening net asset intensity.
Deferred Charges and Other Assets, Net
This category remained relatively stable, fluctuating around 9.6% to 11.1% of total assets throughout the analyzed time frame. Minor variability suggests consistency in deferred or intangible asset holdings relative to total assets.
Noncurrent Assets
Noncurrent assets as a proportion of total assets initially rose sharply from 64.53% in March 2019 to 75.99% in March 2020, then trended downward to approximately 57-60% in subsequent years. This movement corresponds with earlier observations in PPE and accumulated depreciation, implying asset base shifts and rebalancing between current and long-term asset classes.
Total Assets
By definition, total assets comprise 100% at all times, serving as the baseline to evaluate shifts in asset composition.