Stock Analysis on Net
Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

Common-Size Income Statement
Quarterly Data

Valero Energy Corp., common-size consolidated income statement (quarterly data)

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3 months ended: 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
Revenues, includes excise taxes on sales by certain of foreign operations 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of materials and other -87.16 -88.29 -84.33 -85.28 -82.34 -83.39 -85.63 -83.16 -90.68 -88.71 -90.19 -90.99 -91.28 -90.95 -93.62 -87.32 -90.27 -86.37 -89.31 -90.15 -90.58
Lower of cost or market (LCM) inventory valuation adjustment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.98 21.62 -11.50 0.00 0.00 0.00 0.00
Operating expenses, excluding depreciation and amortization expense -4.44 -4.50 -4.11 -4.17 -4.05 -3.92 -3.93 -3.15 -3.58 -4.34 -4.57 -4.38 -7.96 -7.03 -7.07 -9.88 -5.09 -4.44 -4.55 -4.06 -5.01
Depreciation and amortization expense -2.15 -1.92 -1.75 -1.91 -1.78 -1.49 -1.40 -1.14 -1.54 -1.63 -2.13 -2.08 -2.72 -3.41 -3.81 -5.44 -2.57 -2.00 -2.04 -1.91 -2.21
Cost of sales -93.76% -94.71% -90.18% -91.36% -88.18% -88.80% -90.95% -87.45% -95.80% -94.68% -96.89% -97.44% -101.96% -101.39% -102.52% -81.02% -109.43% -92.82% -95.89% -96.12% -97.80%
Gross profit (loss) 6.24% 5.29% 9.82% 8.64% 11.82% 11.20% 9.05% 12.55% 4.20% 5.32% 3.11% 2.56% -1.96% -1.39% -2.52% 18.98% -9.43% 7.18% 4.11% 3.88% 2.20%
Asset impairment loss 0.00 0.00 0.00 0.00 0.00 -0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other operating expenses -0.11 -0.04 -0.02 -0.01 -0.03 -0.06 -0.01 -0.03 -0.05 -0.05 -0.06 -0.04 -0.18 -0.03 -0.16 -0.03 -0.01 -0.03 -0.04 -0.01 -0.01
General and administrative expenses, excluding depreciation and amortization expense -0.81 -0.83 -0.65 -0.61 -0.67 -0.68 -0.48 -0.45 -0.53 -0.80 -0.66 -0.63 -1.00 -1.35 -1.18 -1.63 -0.80 -0.87 -0.80 -0.69 -0.86
Depreciation and amortization expense -0.04 -0.03 -0.03 -0.03 -0.03 -0.03 -0.02 -0.02 -0.03 -0.03 -0.04 -0.04 -0.06 -0.07 -0.08 -0.12 -0.06 -0.05 -0.04 -0.05 -0.06
Operating income (loss) 5.29% 4.39% 9.12% 8.00% 11.10% 10.29% 8.53% 12.04% 3.59% 4.44% 2.35% 1.83% -3.20% -2.83% -3.93% 17.21% -10.30% 6.24% 3.23% 3.14% 1.27%
Other income (expense), net 0.45 0.41 0.32 0.31 0.35 0.22 0.17 0.06 -0.05 -0.45 0.11 0.37 0.22 0.15 0.30 0.26 0.14 0.13 0.12 0.04 0.09
Interest and debt expense, net of capitalized interest -0.44 -0.42 -0.39 -0.43 -0.40 -0.33 -0.31 -0.27 -0.38 -0.42 -0.51 -0.54 -0.72 -0.92 -0.90 -1.37 -0.57 -0.43 -0.41 -0.39 -0.46
Income (loss) before income tax (expense) benefit 5.30% 4.37% 9.05% 7.87% 11.05% 10.18% 8.39% 11.83% 3.16% 3.56% 1.94% 1.66% -3.70% -3.60% -4.53% 16.10% -10.72% 5.94% 2.95% 2.79% 0.90%
Income tax (expense) benefit -1.11 -0.93 -2.12 -1.72 -2.41 -2.44 -1.84 -2.60 -0.65 -0.47 -0.22 -0.61 0.71 1.74 2.13 -3.26 2.79 -1.17 -0.61 -0.55 -0.21
Net income (loss) 4.19% 3.44% 6.93% 6.15% 8.63% 7.74% 6.55% 9.23% 2.51% 3.09% 1.72% 1.05% -2.99% -1.86% -2.40% 12.84% -7.94% 4.77% 2.35% 2.24% 0.69%
Net income attributable to noncontrolling interests -0.27 -0.05 -0.11 -0.52 -0.22 -0.29 -0.21 -0.15 -0.16 -0.28 -0.15 -0.47 -0.39 -0.30 -0.54 -0.79 -0.44 -0.97 -0.11 -0.12 -0.11
Net income (loss) attributable to Valero Energy Corporation stockholders 3.92% 3.39% 6.83% 5.63% 8.42% 7.46% 6.34% 9.09% 2.35% 2.81% 1.57% 0.58% -3.38% -2.16% -2.94% 12.05% -8.37% 3.80% 2.23% 2.12% 0.58%

Based on: 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).

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 decreased from Q3 2023 to Q4 2023 but then slightly increased from Q4 2023 to Q1 2024.
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 decreased from Q3 2023 to Q4 2023 but then slightly increased from Q4 2023 to Q1 2024.
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 decreased from Q3 2023 to Q4 2023 but then slightly increased from Q4 2023 to Q1 2024.