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.

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Valero Energy Corp., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income (loss)1 ÷ Revenues1
Dec 31, 2023 = 100 × ÷
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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

Operating Income (Loss)
The operating income demonstrates considerable volatility over the years analyzed. Beginning in 2005 at $5,459 million, it peaks in 2006 at $8,010 million before declining sharply in subsequent years, reaching a low of negative $58 million in 2009. A recovery phase follows, with operating income increasing to $6,358 million in 2014. However, a notable sudden decline to a loss of $1,579 million occurs in 2020, likely influenced by extraordinary circumstances, before rebounding strongly to its highest value in the period of $15,690 million in 2022. The figure declines slightly in 2023 but remains elevated at $11,858 million.
Revenues
Revenue trends reveal significant fluctuations across the period. Starting from $82,162 million in 2005 and increasing steadily to a peak of $139,250 million in 2012, revenues drop sharply in 2015 to $87,804 million, followed by a further decrease to $75,659 million in 2016. This downturn is succeeded by a gradual recovery, with revenues rising to $117,033 million in 2018 and peaking at $176,383 million in 2022. A decrease is observed in 2023, bringing revenues down to $144,766 million, though still above earlier period levels.
Operating Profit Margin
The operating profit margin shows notable variability, reflecting operational efficiency and cost control changes. It begins at 6.64% in 2005, improves to a high of 8.72% in 2006, then experiences a steep fall to near zero and slight negative margins during 2008 and 2009. Margins recover moderately in the early 2010s, with a peak of 7.24% in 2014, then fluctuate between approximately 3.5% and 4.7% through 2017 and 2018. A dip to negative margin occurs in 2020 coinciding with the negative operating income, followed by a significant increase to the highest margin of 8.9% in 2022 and a slight decrease to 8.19% in 2023.
Overall Financial Trends and Insights
The data indicates a period characterized by cycles of growth, decline, and recovery. Operating results and profitability margins correlate closely, with periods of revenue decline often associated with lower or negative operating income and reduced margins. The substantial downturns around 2008-2009 and 2020 indicate sensitivity to external economic factors. The strong recovery post-2020 with record high operating income and margins by 2022 suggests improved operational efficiency or favorable market conditions. Despite some declines in the most recent year observed (2023), financial performance remains robust compared to earlier years, signaling resilience and an overall positive trajectory in recent times.