Net Profit Margin
since 2005
Calculation
Valero Energy Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss) attributable to Valero Energy Corporation stockholders1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 6.10% | = | 100 | × | 8,835) | ÷ | 144,766) |
| Dec 31, 2022 | 6.54% | = | 100 | × | 11,528) | ÷ | 176,383) |
| Dec 31, 2021 | 0.82% | = | 100 | × | 930) | ÷ | 113,977) |
| Dec 31, 2020 | -2.19% | = | 100 | × | (1,421) | ÷ | 64,912) |
| Dec 31, 2019 | 2.24% | = | 100 | × | 2,422) | ÷ | 108,324) |
| Dec 31, 2018 | 2.67% | = | 100 | × | 3,122) | ÷ | 117,033) |
| Dec 31, 2017 | 4.33% | = | 100 | × | 4,065) | ÷ | 93,980) |
| Dec 31, 2016 | 3.03% | = | 100 | × | 2,289) | ÷ | 75,659) |
| Dec 31, 2015 | 4.54% | = | 100 | × | 3,990) | ÷ | 87,804) |
| Dec 31, 2014 | 2.77% | = | 100 | × | 3,630) | ÷ | 130,844) |
| Dec 31, 2013 | 1.97% | = | 100 | × | 2,720) | ÷ | 138,074) |
| Dec 31, 2012 | 1.50% | = | 100 | × | 2,083) | ÷ | 139,250) |
| Dec 31, 2011 | 1.66% | = | 100 | × | 2,090) | ÷ | 125,987) |
| Dec 31, 2010 | 0.39% | = | 100 | × | 324) | ÷ | 82,233) |
| Dec 31, 2009 | -2.91% | = | 100 | × | (1,982) | ÷ | 68,144) |
| Dec 31, 2008 | -0.95% | = | 100 | × | (1,131) | ÷ | 119,114) |
| Dec 31, 2007 | 5.49% | = | 100 | × | 5,234) | ÷ | 95,327) |
| Dec 31, 2006 | 5.95% | = | 100 | × | 5,463) | ÷ | 91,833) |
| Dec 31, 2005 | 4.37% | = | 100 | × | 3,590) | ÷ | 82,162) |
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
The financial data reveals significant fluctuations in key performance indicators over the years. Net income attributable to stockholders exhibited strong growth from 2005 through 2007, peaking at 5,463 million USD in 2006 before suffering negative results in 2008 and 2009, with a net loss of 1,131 million USD and 1,982 million USD respectively. The company recovered modestly from 2010 to 2014, reaching a net income high of 3,990 million USD in 2014. Subsequently, net income displayed volatility, notably declining to a loss of 1,421 million USD in 2020, before sharply increasing to 11,528 million USD in 2022, the highest value over the period, and then slightly decreasing to 8,835 million USD in 2023.
Revenues generally show an increasing trend from 2005 through 2013, peaking at 139,250 million USD in 2012. However, revenues dropped substantially in 2015 and 2016, falling to 87,804 million USD and 75,659 million USD respectively. After these declines, revenues again trended upwards, reaching a peak of 176,383 million USD in 2022, which represents the highest recorded revenue during the reported years. The data for 2023 indicates a decrease to 144,766 million USD, though still significantly higher than the mid-2010s levels.
The net profit margin mirrors the patterns observed in net income, showing a general increase from 2005 to 2007, followed by negative margins during 2008 and 2009. Margins improved from 2010 onwards, attaining a peak of 4.54% in 2014. A decline followed, with a negative margin of -2.19% in 2020 during a period of net losses, before margins improved substantially to 6.54% in 2022 and slightly decreased to 6.1% in 2023, indicating enhanced profitability and operational efficiency in recent years.
- Net Income Trend
- The net income trend reflects volatility with notable losses during economic downturns, especially in 2008-2009 and 2020, interspersed with recovery periods. The substantial increase in net income in 2022 signifies a strong rebound period, possibly driven by improved market conditions or operational performance.
- Revenue Pattern
- Revenue increased steadily until 2012, followed by a sharp decline in the mid-2010s, then a robust recovery reaching peak values in 2022. The decline in 2023, while significant, does not offset the overall upward trajectory seen in the latter years compared to earlier lows.
- Profitability Dynamics
- Profitability, as indicated by net profit margin, has fluctuated in line with net income, experiencing negative margins during crisis years but generally trending upwards post-2010. The margins peaked in 2022, suggesting improvements in cost management or pricing power.
Comparison to Competitors
Valero Energy Corp., net profit margin, long-term trends, comparison to competitors
| Valero Energy Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 6.10% | 10.85% | 19.52% | 10.76% | 16.62% |
| Dec 31, 2022 | 6.54% | 15.05% | 23.80% | 13.98% | 36.32% |
| Dec 31, 2021 | 0.82% | 10.04% | 17.63% | 8.33% | 8.95% |
| Dec 31, 2020 | -2.19% | -5.87% | -14.38% | -12.57% | -83.28% |
| Dec 31, 2019 | 2.24% | 2.09% | 22.07% | 5.61% | -3.27% |
| Dec 31, 2018 | 2.67% | 9.33% | 17.18% | 7.46% | 23.18% |
| Dec 31, 2017 | 4.33% | 6.83% | -2.94% | 8.31% | 10.48% |
| Dec 31, 2016 | 3.03% | -0.45% | -15.26% | 3.59% | -5.69% |
| Dec 31, 2015 | 4.54% | 3.53% | -14.98% | 6.22% | -62.73% |
| Dec 31, 2014 | 2.77% | 9.60% | 13.08% | 8.25% | 3.19% |
| Dec 31, 2013 | 1.97% | 9.73% | 16.83% | 7.74% | 24.14% |
| Dec 31, 2012 | 1.50% | 11.35% | 14.54% | 9.90% | 19.02% |
| Dec 31, 2011 | 1.66% | 11.01% | 5.08% | 8.79% | 28.28% |
| Dec 31, 2010 | 0.39% | 9.60% | 6.00% | 8.23% | 23.79% |
| Dec 31, 2009 | -2.91% | 6.26% | 3.25% | 6.39% | 18.92% |
| Dec 31, 2008 | -0.95% | 9.03% | -7.06% | 9.84% | 28.31% |
| Dec 31, 2007 | 5.49% | 8.73% | 6.34% | 10.40% | 28.75% |
| Dec 31, 2006 | 5.95% | 8.36% | 8.47% | 10.81% | 23.68% |
| Dec 31, 2005 | 4.37% | 7.28% | 7.54% | 10.07% | 34.73% |
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., net profit margin, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Valero Energy Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 6.10% | 11.86% |
| Dec 31, 2022 | 6.54% | 16.44% |
| Dec 31, 2021 | 0.82% | 9.73% |
| Dec 31, 2020 | -2.19% | -14.70% |
| Dec 31, 2019 | 2.24% | 5.30% |
| Dec 31, 2018 | 2.67% | 9.35% |
| Dec 31, 2017 | 4.33% | 7.10% |
| Dec 31, 2016 | 3.03% | 0.87% |
| Dec 31, 2015 | 4.54% | 1.97% |
| Dec 31, 2014 | 2.77% | 8.89% |
| Dec 31, 2013 | 1.97% | 9.59% |
| Dec 31, 2012 | 1.50% | 10.98% |
| Dec 31, 2011 | 1.66% | 8.89% |
| Dec 31, 2010 | 0.39% | 8.42% |
| Dec 31, 2009 | -2.91% | 5.92% |
| Dec 31, 2008 | -0.95% | 5.96% |
| Dec 31, 2007 | 5.49% | 9.45% |
| Dec 31, 2006 | 5.95% | 9.90% |
| Dec 31, 2005 | 4.37% | 9.24% |
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), 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., net profit margin, long-term trends, comparison to industry (energy)
| Valero Energy Corp. | Energy | |
|---|---|---|
| Dec 31, 2023 | 6.10% | 11.90% |
| Dec 31, 2022 | 6.54% | 16.28% |
| Dec 31, 2021 | 0.82% | 9.67% |
| Dec 31, 2020 | -2.19% | -16.81% |
| Dec 31, 2019 | 2.24% | 2.84% |
| Dec 31, 2018 | 2.67% | 9.17% |
| Dec 31, 2017 | 4.33% | 6.28% |
| Dec 31, 2016 | 3.03% | 0.38% |
| Dec 31, 2015 | 4.54% | 2.26% |
| Dec 31, 2014 | 2.77% | 9.05% |
| Dec 31, 2013 | 1.97% | 9.91% |
| Dec 31, 2012 | 1.50% | 11.09% |
| Dec 31, 2011 | 1.66% | 9.04% |
| Dec 31, 2010 | 0.39% | 8.66% |
| Dec 31, 2009 | -2.91% | 6.20% |
| Dec 31, 2008 | -0.95% | 6.34% |
| Dec 31, 2007 | 5.49% | 9.80% |
| Dec 31, 2006 | 5.95% | 10.13% |
| Dec 31, 2005 | 4.37% | 9.36% |
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).