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Valero Energy

DB:V1L
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
V1L
DB
$18B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Valero Energy Corporation manufactures and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The last earnings update was 33 days ago. More info.


Add to Portfolio Compare Print
  • Valero Energy has significant price volatility in the past 3 months.
V1L Share Price and Events
7 Day Returns
33%
DB:V1L
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-44.2%
DB:V1L
21.9%
DE Oil and Gas
-17.7%
DE Market
V1L Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Valero Energy (V1L) 33% -28.3% -49.5% -44.2% -32.2% -26.3%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • V1L underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • V1L underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
V1L
Industry
5yr Volatility vs Market

V1L Value

 Is Valero Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Valero Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Valero Energy.

DB:V1L Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:V1L
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (59.57%))
1.126
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.126 * 5.44%)
5.74%

Discounted Cash Flow Calculation for DB:V1L using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Valero Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:V1L DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.74%)
2020 3,017.44 Analyst x6 2,853.74
2021 3,156.43 Analyst x5 2,823.24
2022 2,561.00 Analyst x1 2,166.39
2023 2,391.22 Est @ -6.63% 1,913.03
2024 2,277.45 Est @ -4.76% 1,723.16
2025 2,198.94 Est @ -3.45% 1,573.50
2026 2,143.30 Est @ -2.53% 1,450.48
2027 2,102.83 Est @ -1.89% 1,345.89
2028 2,072.58 Est @ -1.44% 1,254.56
2029 2,049.28 Est @ -1.12% 1,173.16
Present value of next 10 years cash flows $18,277.00
DB:V1L DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $2,049.28 × (1 + -0.39%) ÷ (5.74% – -0.39%)
$33,319.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $33,319.54 ÷ (1 + 5.74%)10
$19,074.52
DB:V1L Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $18,277.00 + $19,074.52
$37,351.52
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $37,351.52 / 408.55
$91.43
DB:V1L Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:V1L represents 0.88769x of NYSE:VLO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88769x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 91.43 x 0.88769
€81.16
Value per share (EUR) From above. €81.16
Current discount Discount to share price of €41.89
= -1 x (€41.89 - €81.16) / €81.16
48.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Valero Energy is available for.
Intrinsic value
48%
Share price is €41.89 vs Future cash flow value of €81.16
Current Discount Checks
For Valero Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Valero Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Valero Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Valero Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Valero Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:V1L PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $5.85
NYSE:VLO Share Price ** NYSE (2020-03-30) in USD $47.19
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Valero Energy.

DB:V1L PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VLO Share Price ÷ EPS (both in USD)

= 47.19 ÷ 5.85

8.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Valero Energy is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Valero Energy is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Valero Energy's expected growth come at a high price?
Raw Data
DB:V1L PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
0.1%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:V1L PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.07x ÷ 0.1%

134.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Valero Energy is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Valero Energy's assets?
Raw Data
DB:V1L PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $53.27
NYSE:VLO Share Price * NYSE (2020-03-30) in USD $47.19
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:V1L PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VLO Share Price ÷ Book Value per Share (both in USD)

= 47.19 ÷ 53.27

0.89x

* Primary Listing of Valero Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Valero Energy is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Valero Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Valero Energy has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

V1L Future Performance

 How is Valero Energy expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Valero Energy expected to grow at an attractive rate?
  • Valero Energy's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Valero Energy's earnings growth is positive but not above the Germany market average.
  • Valero Energy's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:V1L Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:V1L Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 0.1%
DB:V1L Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts -2.1%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:V1L Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:V1L Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 80,195 4,592 2,010 1
2023-12-31 78,436 4,812 2,427 1
2022-12-31 102,841 5,684 3,107 3
2021-12-31 101,519 5,059 2,929 7
2020-12-31 89,519 4,460 2,633 8
2020-03-30
DB:V1L Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 102,729 5,531 2,415
2019-09-30 103,682 5,501 2,308
2019-06-30 107,343 4,568 2,554
2019-03-31 109,365 5,110 2,785
2018-12-31 111,407 4,371 3,113
2018-09-30 108,953 4,353 4,524
2018-06-30 101,557 4,894 4,510
2018-03-31 92,882 4,632 4,215
2017-12-31 88,407 5,482 4,051
2017-09-30 82,967 4,820 2,058
2017-06-30 79,103 4,646 1,830
2017-03-31 76,347 5,168 2,096

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Valero Energy's earnings are expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
  • Valero Energy's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:V1L Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Valero Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:V1L Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 5.65 5.65 5.65 1.00
2023-12-31 6.75 6.75 6.75 1.00
2022-12-31 8.45 8.45 8.45 1.00
2021-12-31 6.94 8.80 5.00 5.00
2020-12-31 5.99 9.65 2.15 5.00
2020-03-30
DB:V1L Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 5.85
2019-09-30 5.54
2019-06-30 6.10
2019-03-31 6.60
2018-12-31 7.31
2018-09-30 10.52
2018-06-30 10.39
2018-03-31 9.63
2017-12-31 9.17
2017-09-30 4.62
2017-06-30 4.07
2017-03-31 4.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Valero Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Valero Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Valero Energy has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

V1L Past Performance

  How has Valero Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Valero Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Valero Energy's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Valero Energy's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Valero Energy's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Valero Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Valero Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:V1L Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 102,729.00 2,415.00 819.00
2019-09-30 103,682.00 2,308.00 818.00
2019-06-30 107,343.00 2,554.00 815.00
2019-03-31 109,365.00 2,785.00 870.00
2018-12-31 111,407.00 3,113.00 965.00
2018-09-30 108,953.00 4,524.00 855.00
2018-06-30 101,557.00 4,510.00 883.00
2018-03-31 92,882.00 4,215.00 843.00
2017-12-31 88,407.00 4,051.00 793.00
2017-09-30 82,967.00 2,058.00 826.00
2017-06-30 79,103.00 1,830.00 787.00
2017-03-31 76,347.00 2,096.00 741.00
2016-12-31 70,166.00 2,282.00 671.00
2016-09-30 67,958.00 2,216.00 713.00
2016-06-30 70,748.00 2,980.00 700.00
2016-03-31 76,239.00 3,518.00 719.00
2015-12-31 81,824.00 3,987.00 710.00
2015-09-30 92,409.00 4,844.00 718.00
2015-06-30 105,776.00 4,527.00 719.00
2015-03-31 117,085.00 3,827.00 711.00
2014-12-31 124,943.00 3,692.00 724.00
2014-09-30 137,414.00 3,826.00 689.00
2014-06-30 139,143.00 3,078.00 679.00
2014-03-31 138,263.00 2,887.00 712.00
2013-12-31 138,074.00 2,712.00 728.00
2013-09-30 138,340.00 2,434.00 738.00
2013-06-30 136,929.00 2,796.00 742.00
2013-03-31 137,557.00 3,166.00 710.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Valero Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Valero Energy used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Valero Energy's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Valero Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Valero Energy has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

V1L Health

 How is Valero Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Valero Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Valero Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Valero Energy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Valero Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Valero Energy Company Filings, last reported 2 months ago.

DB:V1L Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 22,536.00 8,881.00 2,583.00
2019-09-30 21,588.00 8,787.00 2,137.00
2019-06-30 21,837.00 8,709.00 2,033.00
2019-03-31 21,779.00 9,510.00 2,777.00
2018-12-31 22,731.00 8,503.00 2,982.00
2018-09-30 22,960.00 9,076.00 3,551.00
2018-06-30 22,804.00 9,059.00 4,451.00
2018-03-31 22,925.00 8,957.00 4,658.00
2017-12-31 22,900.00 8,310.00 5,850.00
2017-09-30 21,224.00 8,485.00 5,176.00
2017-06-30 20,765.00 8,487.00 5,207.00
2017-03-31 20,651.00 8,489.00 4,463.00
2016-12-31 20,854.00 8,001.00 4,816.00
2016-09-30 21,130.00 8,952.00 5,949.00
2016-06-30 21,404.00 7,510.00 4,925.00
2016-03-31 21,495.00 7,335.00 3,778.00
2015-12-31 21,354.00 7,335.00 4,114.00
2015-09-30 21,868.00 7,381.00 5,301.00
2015-06-30 22,006.00 7,349.00 5,764.00
2015-03-31 21,342.00 7,424.00 4,870.00
2014-12-31 21,244.00 6,386.00 3,689.00
2014-09-30 21,062.00 6,383.00 4,191.00
2014-06-30 20,720.00 6,385.00 3,480.00
2014-03-31 20,408.00 6,564.00 3,647.00
2013-12-31 19,946.00 6,564.00 4,292.00
2013-09-30 18,387.00 6,564.00 1,908.00
2013-06-30 18,025.00 6,564.00 2,398.00
2013-03-31 18,418.00 6,869.00 1,857.00
  • Valero Energy's level of debt (39.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.1% vs 39.4% today).
  • Debt is well covered by operating cash flow (62.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.6x coverage).
X
Financial health checks
We assess Valero Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Valero Energy has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

V1L Dividends

 What is Valero Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.31%
Current annual income from Valero Energy dividends. Estimated to be 8.71% next year.
If you bought €2,000 of Valero Energy shares you are expected to receive €166 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Valero Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Valero Energy's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:V1L Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:V1L Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 4.41 1.00
2023-12-31 4.29 1.00
2022-12-31 4.39 6.00
2021-12-31 4.09 12.00
2020-12-31 3.96 13.00
2020-03-30
DB:V1L Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-23 3.920 6.404
2019-10-30 3.600 3.765
2019-07-18 3.600 4.347
2019-04-30 3.600 4.470
2019-01-24 3.600 4.227
2018-10-31 3.200 4.061
2018-07-20 3.200 2.899
2018-05-03 3.200 2.801
2018-01-24 3.200 3.330
2017-11-01 2.800 3.192
2017-07-20 2.800 3.916
2017-05-03 2.800 4.283
2017-01-26 2.800 4.225
2016-11-02 2.400 3.680
2016-07-28 2.400 4.364
2016-05-13 2.400 4.589
2016-01-21 2.400 3.927
2015-11-04 2.000 2.849
2015-10-28 2.000 2.975
2015-07-13 1.600 2.540
2015-04-30 1.600 2.668
2015-01-23 1.600 2.745
2014-10-23 1.100 2.251
2014-07-29 1.100 2.234
2014-05-01 1.000 1.880
2014-01-22 1.000 1.916
2013-11-08 0.900 1.923
2013-07-25 0.900 2.470
2013-05-01 0.800 2.151
2013-01-23 0.800 1.848
2012-07-31 0.700 2.241
2012-05-07 0.600 2.595
2012-05-01 0.600 2.514
2011-10-27 0.600 2.530
2011-07-28 0.200 0.945
2011-04-28 0.200 0.774
2011-01-25 0.200 0.716
2010-11-03 0.200 0.930
2010-07-29 0.200 1.158
2010-04-29 0.200 1.103
2010-01-27 0.200 1.041
2009-10-15 0.600 3.409
2009-07-30 0.600 3.188
2009-04-30 0.600 3.237

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Valero Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Valero Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Valero Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Valero Energy has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

V1L Management

 What is the CEO of Valero Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Gorder
COMPENSATION $28,175,952
AGE 62
TENURE AS CEO 5.8 years
CEO Bio

Mr. Joseph W. Gorder, also known as Joe, has been the Chief Executive Officer of Valero Energy Corporation since May 01, 2014 and served as its President from November 2012 to January 23, 2020. Mr. Gorder has been the Chief Executive Officer of Valero Energy Partners Gp Llc, the general partner of Valero Energy Partners LP since September 2013. He served as the Chief Operating Officer of Valero Energy Corporation since November 2012. He served as an Executive Vice President of Marketing & Supply of Valero Energy Corporation since December 2005 and served as its Chief Commercial Officer since January 2011 until November 2012. He served as the President of Valero Europe at Valero Energy Corporation. He was Executive Vice President of Valero Energy Corporation from January 2011 to November 2012. Mr. Gorder served as Senior Vice President of Corporate Development at Valero Energy Corporation from August 19, 2003 to January 03, 2006. He oversaw retail and specialty products marketing, wholesale marketing, crude and feedstock supply and trading, products trading, planning and economics and transportation. He has 26 years of service with Valero, including with uds and serves as president and chief operating officer of valero, responsible for refining operations and commercial operations in marketing, supply and transportation. He led Valero’s European operations from its London office. He also serves on the board of directors of Anadarko Petroleum Corporation. Prior to that, he held several positions with valero and uds with responsibilities for corporate development and marketing. He served as Vice President of Corporate Development of Valero LP. Mr. Gorder served as Vice President of Business Development of Ultramar Diamond Shamrock and as Director of Commercial/Industrial Sales, Assistant Treasurer and Director of Information Systems of Diamond Shamrock. He has been the Chairman of Valero Energy Corporation since December 31, 2014 and has been its Director since February 27, 2014. He has been Director of Valero Energy Partners Gp Llc since September 2013. Mr. Gorder holds a bachelor's degree in business administration from the University of Missouri-St. Louis and a Master's degree in Business Administration from Our Lady of the Lake University.

CEO Compensation
  • Joe's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Joe's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Valero Energy management team in years:

2.2
Average Tenure
54.5
Average Age
  • The tenure for the Valero Energy management team is about average.
Management Team

Joe Gorder

TITLE
Chairman & CEO
COMPENSATION
$28M
AGE
62
TENURE
5.8 yrs

Donna Titzman

TITLE
Executive VP & CFO
COMPENSATION
$8M
AGE
56
TENURE
1.8 yrs

R. Riggs

TITLE
President & COO
COMPENSATION
$11M
AGE
53
TENURE
2.2 yrs

Jason Fraser

TITLE
Executive VP & General Counsel
COMPENSATION
$6M
AGE
50
TENURE
1.2 yrs

Gary Simmons

TITLE
Executive VP & Chief Commercial Officer
COMPENSATION
$6M
AGE
54
TENURE
5.8 yrs

Mark Schmeltekopf

TITLE
Chief Accounting Officer & Senior VP
AGE
55

Cheryl Thomas

TITLE
Chief Information Officer & Senior VP of Information Services

Julia Reinhart

TITLE
Senior Vice President of Human Resources & Administration

John Locke

TITLE
Vice President of Investor Relations & Communications

Steve Gilbert

TITLE
Disclosure & Compliance Officer and Secretary
Board of Directors Tenure

Average tenure and age of the Valero Energy board of directors in years:

8.6
Average Tenure
66.5
Average Age
  • The tenure for the Valero Energy board of directors is about average.
Board of Directors

Joe Gorder

TITLE
Chairman & CEO
COMPENSATION
$28M
AGE
62
TENURE
5.3 yrs

Ray Wilkins

TITLE
Independent Director
COMPENSATION
$325K
AGE
68
TENURE
9.2 yrs

Randy Weisenburger

TITLE
Independent Director
COMPENSATION
$325K
AGE
61
TENURE
9.2 yrs

Debbie Majoras

TITLE
Independent Director
COMPENSATION
$325K
AGE
55
TENURE
7.7 yrs

Bob Profusek

TITLE
Lead Independent Director
COMPENSATION
$335K
AGE
69
TENURE
10.2 yrs

Donald Nickles

TITLE
Independent Director
COMPENSATION
$305K
AGE
70
TENURE
15.2 yrs

Steve Waters

TITLE
Independent Director
COMPENSATION
$305K
AGE
72
TENURE
11.5 yrs

Phil Pfeiffer

TITLE
Independent Director
COMPENSATION
$305K
AGE
71
TENURE
8 yrs

H. Eberhart

TITLE
Independent Director
COMPENSATION
$305K
AGE
65
TENURE
3.7 yrs

Kim Greene

TITLE
Independent Director
COMPENSATION
$305K
AGE
53
TENURE
3.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Valero Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Mar 20 Buy Randall Weisenburger Individual 12. Mar 20 12. Mar 20 45,000 €42.75 €1,923,753
13. Mar 20 Buy Philip Pfeiffer Individual 13. Mar 20 13. Mar 20 1,310 €39.56 €51,828
X
Management checks
We assess Valero Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Valero Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

V1L News

Simply Wall St News

V1L Company Info

Description

Valero Energy Corporation manufactures and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and Renewable Diesel. The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products. As of December 31, 2019, the company owned 15 petroleum refineries with a combined throughput capacity of approximately 3.15 million barrels per day. It markets its refined products through wholesale rack and bulk markets; and through approximately 7,000 outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brand names. The company also produces and sells ethanol, distiller grains, and corn oil primarily to refiners and gasoline blenders, as well as to animal feed customers. It owns and operates 14 ethanol plants with a combined ethanol production capacity of approximately 1.73 billion gallons per year. In addition, the company owns, operates, develops, and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. Further, it owns and operates a plant that processes animal fats, used cooking oils, and other vegetable oils into renewable diesel. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997. Valero Energy Corporation was founded in 1980 and is headquartered in San Antonio, Texas.

Details
Name: Valero Energy Corporation
V1L
Exchange: DB
Founded: 1980
$16,678,579,470
408,545,828
Website: http://www.valero.com
Address: Valero Energy Corporation
One Valero Way,
San Antonio,
Texas, 78249,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VLO Common Stock New York Stock Exchange US USD 02. Jan 1980
DB V1L Common Stock Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0LK6 Common Stock London Stock Exchange GB USD 02. Jan 1980
BRSE V1L Common Stock Berne Stock Exchange CH CHF 02. Jan 1980
BMV VLO * Common Stock Bolsa Mexicana de Valores MX MXN 02. Jan 1980
ETLX V1L Common Stock Eurotlx IT EUR 02. Jan 1980
BOVESPA VLOE34 BDR EA REPR 1/2 COM SHS USD0.01 Bolsa de Valores de Sao Paulo BR BRL 01. Aug 2016
Number of employees
Current staff
Staff numbers
10,222
Valero Energy employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:03
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.