Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

Common-Size Income Statement

Valero Energy Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenues, includes excise taxes on sales by certain of foreign operations 100.00 100.00 100.00 100.00 100.00
Cost of materials and other -85.02 -85.48 -90.12 -90.79 -89.06
Lower of cost or market (LCM) inventory valuation adjustment 0.00 0.00 0.00 0.03 0.00
Operating expenses, excluding depreciation and amortization expense -4.21 -3.62 -5.07 -6.83 -4.49
Depreciation and amortization expense -1.84 -1.38 -2.07 -3.55 -2.03
Cost of sales -91.07% -90.48% -97.25% -101.14% -95.59%
Gross profit (loss) 8.93% 9.52% 2.75% -1.14% 4.41%
Asset impairment loss 0.00 -0.03 0.00 0.00 0.00
Other operating expenses -0.02 -0.04 -0.08 -0.05 -0.02
General and administrative expenses, excluding depreciation and amortization expense -0.69 -0.53 -0.76 -1.16 -0.80
Depreciation and amortization expense -0.03 -0.03 -0.04 -0.07 -0.05
Operating income (loss) 8.19% 8.90% 1.87% -2.43% 3.54%
Other income, net 0.35 0.10 0.01 0.20 0.10
Interest and debt expense, net of capitalized interest -0.41 -0.32 -0.53 -0.87 -0.42
Income (loss) before income tax (expense) benefit 8.13% 8.68% 1.35% -3.10% 3.22%
Income tax (expense) benefit -1.81 -1.94 -0.22 1.39 -0.65
Net income (loss) 6.32% 6.73% 1.13% -1.71% 2.57%
Net income attributable to noncontrolling interests -0.22 -0.20 -0.31 -0.48 -0.33
Net income (loss) attributable to Valero Energy Corporation stockholders 6.10% 6.54% 0.82% -2.19% 2.24%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Valero Energy Corp. operating income (loss) as a percentage of revenues, includes excise taxes on sales by certain of foreign operations increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Income (loss) before income tax (expense) benefit Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Valero Energy Corp. income (loss) before income tax (expense) benefit as a percentage of revenues, includes excise taxes on sales by certain of foreign operations increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net income (loss) attributable to Valero Energy Corporation stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Valero Energy Corp. net income (loss) attributable to Valero Energy Corporation stockholders as a percentage of revenues, includes excise taxes on sales by certain of foreign operations increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.