VALERO ENERGY CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 157.1 USD | +4.14% |
|
-3.25% | +20.88% |
| May. 31 | US refiners boosting fuel output past 90% of capacity for summer driving season | RE |
| May. 30 | Tudor, Pickering, Holt Adjusts Price Target on Valero Energy to $170 From $175 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 38,458 | 23,069 | 30,708 | 48,907 | 44,259 | 51,384 | - | - |
| Enterprise Value (EV) 1 | 45,547 | 34,433 | 40,456 | 55,680 | 50,359 | 56,182 | 56,260 | 56,256 |
| P/E ratio | 16 x | -16.2 x | 33.1 x | 4.37 x | 5.22 x | 9.74 x | 11.4 x | 11.3 x |
| Yield | 3.84% | 6.93% | 5.22% | 3.09% | 3.14% | 2.72% | 2.81% | 2.89% |
| Capitalization / Revenue | 0.36 x | 0.36 x | 0.27 x | 0.28 x | 0.31 x | 0.38 x | 0.41 x | 0.45 x |
| EV / Revenue | 0.42 x | 0.53 x | 0.35 x | 0.32 x | 0.35 x | 0.41 x | 0.44 x | 0.49 x |
| EV / EBITDA | 7.48 x | 34.2 x | 8.62 x | 3.07 x | 3.46 x | 5.5 x | 6.24 x | 6.72 x |
| EV / FCF | 15.3 x | -23.1 x | 11.9 x | 5.66 x | 6.89 x | 9.06 x | 10.9 x | 11.5 x |
| FCF Yield | 6.55% | -4.32% | 8.41% | 17.7% | 14.5% | 11% | 9.17% | 8.72% |
| Price to Book | 1.78 x | 1.22 x | 1.66 x | 2 x | 1.64 x | 1.85 x | 1.74 x | 1.62 x |
| Nbr of stocks (in thousands) | 410,653 | 407,789 | 408,836 | 385,523 | 340,453 | 326,996 | - | - |
| Reference price 2 | 93.65 | 56.57 | 75.11 | 126.9 | 130.0 | 157.1 | 157.1 | 157.1 |
| Announcement Date | 1/30/20 | 1/28/21 | 1/27/22 | 1/26/23 | 1/25/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 108,324 | 64,912 | 113,977 | 176,383 | 144,766 | 136,433 | 126,812 | 114,800 |
| EBITDA 1 | 6,091 | 1,007 | 4,691 | 18,163 | 14,559 | 10,212 | 9,018 | 8,375 |
| EBIT 1 | 3,836 | -1,344 | 2,333 | 15,690 | 11,858 | 7,429 | 6,292 | 5,794 |
| Operating Margin | 3.54% | -2.07% | 2.05% | 8.9% | 8.19% | 5.44% | 4.96% | 5.05% |
| Earnings before Tax (EBT) 1 | 3,486 | -2,010 | 1,543 | 15,307 | 11,768 | 6,950 | 5,854 | 5,865 |
| Net income 1 | 2,422 | -1,421 | 930 | 11,528 | 8,835 | 5,184 | 4,192 | 4,086 |
| Net margin | 2.24% | -2.19% | 0.82% | 6.54% | 6.1% | 3.8% | 3.31% | 3.56% |
| EPS 2 | 5.840 | -3.500 | 2.270 | 29.04 | 24.92 | 16.13 | 13.82 | 13.85 |
| Free Cash Flow 1 | 2,982 | -1,488 | 3,401 | 9,837 | 7,313 | 6,199 | 5,162 | 4,906 |
| FCF margin | 2.75% | -2.29% | 2.98% | 5.58% | 5.05% | 4.54% | 4.07% | 4.27% |
| FCF Conversion (EBITDA) | 48.96% | - | 72.5% | 54.16% | 50.23% | 60.7% | 57.24% | 58.58% |
| FCF Conversion (Net income) | 123.12% | - | 365.7% | 85.33% | 82.77% | 119.57% | 123.13% | 120.06% |
| Dividend per Share 2 | 3.600 | 3.920 | 3.920 | 3.920 | 4.080 | 4.270 | 4.422 | 4.537 |
| Announcement Date | 1/30/20 | 1/28/21 | 1/27/22 | 1/26/23 | 1/25/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 35,903 | 38,542 | 51,641 | 44,454 | 41,746 | 36,439 | 34,509 | 38,404 | 35,414 | 31,759 | 34,876 | 34,295 | 33,621 | 30,817 | 32,663 |
| EBITDA 1 | 2,183 | 1,990 | 6,821 | 4,017 | 4,928 | 4,703 | 3,428 | 3,764 | 2,243 | 2,362 | 2,720 | 2,718 | 2,114 | 2,071 | 2,622 |
| EBIT 1 | 1,597 | 1,384 | 6,219 | 3,792 | 4,295 | 4,043 | 2,759 | 3,503 | 1,553 | 1,679 | 2,009 | 2,095 | 1,444 | 1,355 | 1,934 |
| Operating Margin | 4.45% | 3.59% | 12.04% | 8.53% | 10.29% | 11.1% | 8% | 9.12% | 4.39% | 5.29% | 5.76% | 6.11% | 4.3% | 4.4% | 5.92% |
| Earnings before Tax (EBT) 1 | 1,279 | 1,219 | 6,110 | 3,728 | 4,250 | 4,026 | 2,717 | 3,476 | 1,549 | 1,683 | 1,891 | 1,993 | 1,296 | 1,142 | 1,877 |
| Net income 1 | 1,009 | 905 | 4,693 | 2,817 | 3,113 | 3,067 | 1,944 | 2,622 | 1,202 | 1,245 | 1,478 | 1,514 | 890.6 | 828 | 1,322 |
| Net margin | 2.81% | 2.35% | 9.09% | 6.34% | 7.46% | 8.42% | 5.63% | 6.83% | 3.39% | 3.92% | 4.24% | 4.41% | 2.65% | 2.69% | 4.05% |
| EPS 2 | 2.460 | 2.210 | 11.57 | 7.190 | 8.150 | 8.290 | 5.400 | 7.490 | 3.550 | 3.750 | 4.544 | 4.744 | 2.842 | 2.643 | 4.303 |
| Dividend per Share 2 | 0.9800 | 0.9800 | 0.9800 | 0.9800 | 0.9800 | 1.020 | 1.020 | 1.020 | 1.020 | 1.070 | 1.070 | 1.070 | 1.070 | 1.116 | 1.120 |
| Announcement Date | 1/27/22 | 4/26/22 | 7/28/22 | 10/25/22 | 1/26/23 | 4/27/23 | 7/27/23 | 10/26/23 | 1/25/24 | 4/25/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 7,089 | 11,364 | 9,748 | 6,773 | 6,100 | 4,798 | 4,876 | 4,872 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.164 x | 11.29 x | 2.078 x | 0.3729 x | 0.419 x | 0.4698 x | 0.5407 x | 0.5818 x |
| Free Cash Flow 1 | 2,982 | -1,488 | 3,401 | 9,837 | 7,313 | 6,199 | 5,162 | 4,906 |
| ROE (net income / shareholders' equity) | 10.9% | -6.23% | 5% | 54.9% | 35.4% | 18.1% | 15.9% | 13.3% |
| ROA (Net income/ Total Assets) | 4.54% | -2.39% | 1.7% | 19.4% | 14.2% | 8.43% | 7.36% | - |
| Assets 1 | 53,353 | 59,333 | 54,835 | 59,435 | 62,019 | 61,534 | 56,971 | - |
| Book Value Per Share 2 | 52.70 | 46.20 | 45.30 | 63.30 | 79.20 | 84.80 | 90.50 | 96.90 |
| Cash Flow per Share 2 | 12.60 | 3.180 | 8.930 | 35.90 | 26.10 | 26.90 | 24.80 | 24.20 |
| Capex 1 | 2,774 | 2,436 | 2,458 | 2,737 | 1,916 | 2,075 | 2,081 | 1,990 |
| Capex / Sales | 2.56% | 3.75% | 2.16% | 1.55% | 1.32% | 1.52% | 1.64% | 1.73% |
| Announcement Date | 1/30/20 | 1/28/21 | 1/27/22 | 1/26/23 | 1/25/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
157.1
USD
Average target price
181.2
USD
Spread / Average Target
+15.33%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +20.88% | 51.38B | |
| +10.67% | 232B | |
| +21.27% | 102B | |
| +4.72% | 102B | |
| +19.04% | 62.23B | |
| +6.74% | 60.25B | |
| +27.58% | 37.82B | |
| +25.07% | 26.8B | |
| -16.48% | 19.74B | |
| +11.67% | 19.82B |
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- Financials Valero Energy Corporation
