Stock Analysis on Net
Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

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DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin

Microsoft Excel LibreOffice Calc

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

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Two-Component Disaggregation of ROE

Valero Energy Corp., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Dec 31, 2021 = ×
Dec 31, 2020 = ×
Dec 31, 2019 = ×
Dec 31, 2018 = ×
Dec 31, 2017 = ×

Based on: 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).

Three-Component Disaggregation of ROE

Valero Energy Corp., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 31, 2021 = × ×
Dec 31, 2020 = × ×
Dec 31, 2019 = × ×
Dec 31, 2018 = × ×
Dec 31, 2017 = × ×

Based on: 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).

Five-Component Disaggregation of ROE

Valero Energy Corp., decomposition of ROE

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 31, 2021 = × × × ×
Dec 31, 2020 = × × × ×
Dec 31, 2019 = × × × ×
Dec 31, 2018 = × × × ×
Dec 31, 2017 = × × × ×

Based on: 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).

Two-Component Disaggregation of ROA

Valero Energy Corp., decomposition of ROA

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Dec 31, 2021 = ×
Dec 31, 2020 = ×
Dec 31, 2019 = ×
Dec 31, 2018 = ×
Dec 31, 2017 = ×

Based on: 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).

Four-Component Disaggregation of ROA

Valero Energy Corp., decomposition of ROA

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 31, 2021 = × × ×
Dec 31, 2020 = × × ×
Dec 31, 2019 = × × ×
Dec 31, 2018 = × × ×
Dec 31, 2017 = × × ×

Based on: 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).

Disaggregation of Net Profit Margin

Valero Energy Corp., decomposition of net profit margin ratio

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 31, 2021 = × ×
Dec 31, 2020 = × ×
Dec 31, 2019 = × ×
Dec 31, 2018 = × ×
Dec 31, 2017 = × ×

Based on: 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).