Current Ratio
since 2005
Calculation
Valero Energy Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1.56 | = | 26,221) | ÷ | 16,802) |
| Dec 31, 2022 | 1.38 | = | 24,133) | ÷ | 17,461) |
| Dec 31, 2021 | 1.26 | = | 21,165) | ÷ | 16,851) |
| Dec 31, 2020 | 1.71 | = | 15,844) | ÷ | 9,283) |
| Dec 31, 2019 | 1.44 | = | 18,969) | ÷ | 13,160) |
| Dec 31, 2018 | 1.65 | = | 17,675) | ÷ | 10,724) |
| Dec 31, 2017 | 1.74 | = | 19,312) | ÷ | 11,071) |
| Dec 31, 2016 | 2.02 | = | 16,800) | ÷ | 8,328) |
| Dec 31, 2015 | 2.03 | = | 14,972) | ÷ | 7,360) |
| Dec 31, 2014 | 1.66 | = | 16,614) | ÷ | 9,980) |
| Dec 31, 2013 | 1.47 | = | 19,277) | ÷ | 13,123) |
| Dec 31, 2012 | 1.38 | = | 16,460) | ÷ | 11,929) |
| Dec 31, 2011 | 1.26 | = | 15,972) | ÷ | 12,708) |
| Dec 31, 2010 | 1.54 | = | 13,518) | ÷ | 8,784) |
| Dec 31, 2009 | 1.40 | = | 10,923) | ÷ | 7,798) |
| Dec 31, 2008 | 1.52 | = | 9,450) | ÷ | 6,209) |
| Dec 31, 2007 | 1.24 | = | 14,792) | ÷ | 11,914) |
| Dec 31, 2006 | 1.22 | = | 10,760) | ÷ | 8,822) |
| Dec 31, 2005 | 1.13 | = | 8,276) | ÷ | 7,305) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
- Current Assets Trend
- Current assets exhibited overall growth during the period analyzed, increasing from 8,276 million US dollars at the end of 2005 to 26,221 million US dollars by the end of 2023. Notably, there were fluctuations in certain years, such as a decline from 14,792 million in 2007 to 9,450 million in 2008, potentially reflecting economic or operational challenges during that timeframe. Post-2008, current assets steadily increased with minor variances, reaching peak values above 24,000 million in the most recent years.
- Current Liabilities Trend
- Current liabilities also showed an upward trend but with more pronounced volatility compared to current assets. Starting at 7,305 million US dollars in 2005, liabilities peaked at 17,461 million in 2022 before slightly declining to 16,802 million in 2023. The data indicates periods of rapid increase, such as between 2016 and 2022, with interim decreases in years such as 2008 and 2015. These fluctuations suggest shifting short-term obligations that may reflect changing operational or market conditions.
- Current Ratio Analysis
- The current ratio, which measures short-term liquidity by comparing current assets to current liabilities, fluctuated between 1.13 and 2.03 over the period. The ratio generally remained above 1.0, indicating that current assets consistently exceeded current liabilities, supporting short-term financial stability. It reached its highest values around 2014 and 2015, surpassing 2.0, which indicates a particularly strong liquidity position during those years. However, after this peak, the ratio declined somewhat, stabilizing approximately between 1.26 and 1.56 in recent years. This suggests a moderate but healthy liquidity buffer without excessive buildup of current assets over current liabilities.
- Overall Observations
- The company demonstrated generally improving liquidity over the long term, with current assets growing faster than current liabilities on average. However, the more volatile pattern in current liabilities signals periods of changing financial pressures or strategic shifts in managing short-term debt. The current ratio's variation indicates adaptive liquidity management, maintaining an acceptable balance to support operational needs. The post-2008 consistent asset growth combined with controlled increases in liabilities suggests enhanced financial resilience and effective working capital management in recent years.
Comparison to Competitors
Valero Energy Corp., current ratio, long-term trends, comparison to competitors
| Valero Energy Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1.56 | 1.27 | 1.43 | 1.48 | 0.92 |
| Dec 31, 2022 | 1.38 | 1.47 | 1.46 | 1.41 | 1.15 |
| Dec 31, 2021 | 1.26 | 1.26 | 1.34 | 1.04 | 1.23 |
| Dec 31, 2020 | 1.71 | 1.18 | 2.25 | 0.80 | 1.07 |
| Dec 31, 2019 | 1.44 | 1.07 | 2.40 | 0.78 | 1.25 |
| Dec 31, 2018 | 1.65 | 1.25 | 1.79 | 0.84 | 1.34 |
| Dec 31, 2017 | 1.74 | 1.03 | 1.76 | 0.82 | 1.12 |
| Dec 31, 2016 | 2.02 | 0.93 | 1.25 | 0.87 | 1.32 |
| Dec 31, 2015 | 2.03 | 1.34 | 0.95 | 0.79 | 1.37 |
| Dec 31, 2014 | 1.66 | 1.32 | 1.31 | 0.82 | 1.68 |
| Dec 31, 2013 | 1.47 | 1.52 | 1.26 | 0.83 | 1.34 |
| Dec 31, 2012 | 1.38 | 1.63 | 1.38 | 1.01 | 1.30 |
| Dec 31, 2011 | 1.26 | 1.58 | 1.08 | 0.94 | 1.45 |
| Dec 31, 2010 | 1.54 | 1.68 | 1.26 | 0.94 | 1.67 |
| Dec 31, 2009 | 1.40 | 1.42 | 0.89 | 1.06 | 1.33 |
| Dec 31, 2008 | 1.52 | 1.14 | 0.96 | 1.47 | 1.17 |
| Dec 31, 2007 | 1.24 | 1.17 | 0.92 | 1.47 | 1.37 |
| Dec 31, 2006 | 1.22 | 1.28 | 0.95 | 1.55 | 1.27 |
| Dec 31, 2005 | 1.13 | 1.37 | 0.92 | 1.58 | 1.54 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Valero Energy Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Valero Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 1.56 | 1.37 |
| Dec 31, 2022 | 1.38 | 1.42 |
| Dec 31, 2021 | 1.26 | 1.15 |
| Dec 31, 2020 | 1.71 | 1.00 |
| Dec 31, 2019 | 1.44 | 1.01 |
| Dec 31, 2018 | 1.65 | 1.06 |
| Dec 31, 2017 | 1.74 | 0.98 |
| Dec 31, 2016 | 2.02 | 0.95 |
| Dec 31, 2015 | 2.03 | 1.00 |
| Dec 31, 2014 | 1.66 | 1.07 |
| Dec 31, 2013 | 1.47 | 1.09 |
| Dec 31, 2012 | 1.38 | 1.25 |
| Dec 31, 2011 | 1.26 | 1.14 |
| Dec 31, 2010 | 1.54 | 1.23 |
| Dec 31, 2009 | 1.40 | 1.13 |
| Dec 31, 2008 | 1.52 | 1.25 |
| Dec 31, 2007 | 1.24 | 1.27 |
| Dec 31, 2006 | 1.22 | 1.32 |
| Dec 31, 2005 | 1.13 | 1.38 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Valero Energy Corp., current ratio, long-term trends, comparison to industry (energy)
| Valero Energy Corp. | Energy | |
|---|---|---|
| Dec 31, 2023 | 1.56 | 1.37 |
| Dec 31, 2022 | 1.38 | 1.40 |
| Dec 31, 2021 | 1.26 | 1.15 |
| Dec 31, 2020 | 1.71 | 1.02 |
| Dec 31, 2019 | 1.44 | 1.03 |
| Dec 31, 2018 | 1.65 | 1.07 |
| Dec 31, 2017 | 1.74 | 1.01 |
| Dec 31, 2016 | 2.02 | 1.04 |
| Dec 31, 2015 | 2.03 | 1.11 |
| Dec 31, 2014 | 1.66 | 1.14 |
| Dec 31, 2013 | 1.47 | 1.17 |
| Dec 31, 2012 | 1.38 | 1.31 |
| Dec 31, 2011 | 1.26 | 1.20 |
| Dec 31, 2010 | 1.54 | 1.26 |
| Dec 31, 2009 | 1.40 | 1.17 |
| Dec 31, 2008 | 1.52 | 1.28 |
| Dec 31, 2007 | 1.24 | 1.28 |
| Dec 31, 2006 | 1.22 | 1.33 |
| Dec 31, 2005 | 1.13 | 1.39 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).