Zacks Investment Research·1d ago
3 Refining Stocks That Have Doubled in 2026: What's Next?VLO, PBF and MPC could see further upside as global refinery outages, tight fuel inventories and cheaper heavy crude support favorable refining margins.
Valero's revenue surged from $29.9B in 2025Q2 to $46.1B in 2026Q3 and gross margin expanded from 1.6% to 20.4% over the same span, suggesting a sharp refining-spread recovery rather than a durable structural expansion.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rose 43.3% year-over-year to $46.1B in 2026Q3 while operating margin climbed to 19.7% from 5.3% in 2026Q1, indicating earnings are highly sensitive to refining spreads.
Valero Energy Corporation has posted record refining throughput, indicating strong operational performance and capacity utilization.
The company has increased its dividend, signaling confidence in its financial health and commitment to returning capital to shareholders.
Fully executed share repurchase programs demonstrate management's belief in undervaluation and commitment to enhancing shareholder value.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 22, 2026 | $23.90+12.9% vs $21.17 | $46.1B+7.9% vs $42.7B |
Q3 2026 Jul 30, 2026 | $12.54+24.0% vs $10.11 | $44.5B+12.7% vs $39.5B |
Q2 2026 Apr 30, 2026 | $4.22+33.5% vs $3.16 | $32.4B+3.2% vs $31.4B |
Q1 2026 Jan 29, 2026 | $3.82+16.8% vs $3.27 | $30.4B+6.5% vs $28.5B |
VLO, PBF and MPC could see further upside as global refinery outages, tight fuel inventories and cheaper heavy crude support favorable refining margins.
BLCO, VLO, and HAS it to the Zacks Rank #1 (Strong Buy) growth stocks list on November 5, 2026.
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VLO's $320.5 million Houston refinery acquisition adds 165,000 barrels per day of planned capacity, expanding its Gulf Coast footprint.
Benchmark VLO against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Valero Energy Corporation (VLO)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $346.45 | $102.87B | 45.77 | -5.54% | 1.91% | 8.68% | 1.31% | |
| $372.74 | $108.82B | 28.09 | -4.44% | 8.35% | 56.77% | 1% | |
| $245.72 | $98.52B | 22.77 | -7.64% | 7.41% | 39.26% | 1.92% | |
| $67.27 | $7.96B | -48.40 | -11.42% | 6.98% | 42.13% | 1.64% | |
| $63.95 | $3.92B | -168.29 | -9.53% | 1.86% | 45.98% | 1.6% | |
| $68.06 | $3.41B | 9.51 | -6.39% | 9.81% | 53.95% | — |
Valero Energy Corporation (VLO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Valero Energy Corporation (VLO) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 30, 2026·SEC
Oct 22, 2026·SEC
Jul 30, 2026·SEC
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Valero Energy Corporation (VLO) stock FAQ — growth, dividends, profitability & financials explained
Valero Energy Corporation (VLO) reported $146.86B in revenue over the trailing twelve months. Revenue was $122.69B in fiscal year 2025. That is 2358% more than the $4.99B of fiscal year 1996.
Valero Energy Corporation (VLO) revenue fell by 5.5% in fiscal year 2025, compared with the prior fiscal year.
Yes. Valero Energy Corporation (VLO) earned $12.95B in net income over the trailing twelve months (a 8.8% net margin).
Yes. Valero Energy Corporation (VLO) pays a dividend that yields 1.31% at the current price, a moderate yield.
Valero Energy Corporation (VLO) had a return on equity (ROE) of 8.7% in fiscal year 2025. That is below the market's typical 10-15%.
Valero Energy Corporation (VLO) generated $15.44B in free cash flow over the trailing twelve months.
