Valero Energy Corporation (VLO) quarterly cash flow statement — complete operating, investing & financing history
Valero Energy Corporation (VLO) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 5.58B | 1.39B | 2.06B | 1.88B | 936M | 952M | 1.07B | 1.29B | 2.47B | 1.85B | 1.24B | 3.31B | 1.51B | 3.17B | 4.1B | 2.04B | 5.84B | 588M | 2.45B | 1.45B |
| Operating CF Margin % | 15.23% | 4.29% | 6.48% | 5.85% | 3.13% | 3.15% | 3.48% | 3.94% | 7.17% | 5.81% | 3.5% | 8.61% | 4.38% | 8.7% | 9.81% | 4.6% | 11.32% | 1.53% | 6.84% | 4.91% |
| Operating CF Growth % | 496.15% | 46.01% | 92.24% | 45.25% | -62.14% | -48.43% | -13.64% | -60.85% | 63.49% | -41.77% | -69.75% | 61.76% | -74.13% | 439.12% | 66.91% | 41.13% | 191.09% | 1230.77% | 2456.25% | 778.18% |
| Net Income | 4.07B | 1.32B | 1.17B | 1.07B | 663M | -652M | 357M | 363M | 877M | 1.24B | 1.2B | 2.66B | 2.12B | 3.15B | 3.23B | 2.91B | 4.77B | 967M | 1.01B | 463M |
| Depreciation & Amortization | 737M | 840M | 817M | 836M | 814M | 691M | 698M | 685M | 696M | 695M | 690M | 682M | 669M | 660M | 633M | 632M | 602M | 606M | 598M | 641M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 103M | 0 | 0 | 0 | 88M | 0 |
| Deferred Taxes | 129M | -397M | 91M | -29M | 65M | -324M | -9M | 22M | -31M | -69M | 71M | -127M | 105M | 54M | 211M | 172M | -99M | -234M | 24M | -14M |
| Other Non-Cash Items | 338M | -72M | -126M | 0 | -500M | 1.13B | 0 | 30M | 49M | 88M | 19M | 0 | -190M | -156M | -80M | -182M | -20M | 50M | 206M | 45M |
| Working Capital Changes | 303M | -303M | 106M | 8M | -106M | 106M | 24M | 195M | 881M | -110M | -740M | 90M | -1.19B | -534M | -3M | -1.49B | 574M | -801M | 529M | 314M |
| Change in Receivables | 3.71B | -3.71B | -457M | 731M | 457M | -457M | 180M | 2.18B | -1.06B | 257M | 322M | -1.93B | -1.16B | 2.38B | -184M | 2.73B | -1.51B | -2.65B | -1.74B | 426M |
| Change in Inventory | 16M | -16M | 693M | 111M | -693M | 693M | -860M | 1.08B | -147M | -356M | 36M | -647M | 568M | -641M | 31M | 353M | -116M | -940M | -21M | -185M |
| Change in Payables | -3.31B | 3.31B | -42M | -825M | 42M | -42M | 651M | -3.1B | 2.15B | -130M | -825M | 2.56B | 360M | -2.27B | -225M | -3.49B | 1.5B | 2.74B | 2.68B | -355M |
| Cash from Investing | -361M | -400M | -419M | -379M | -412M | -635M | -544M | -408M | -392M | -547M | -483M | -304M | -529M | -549M | -735M | -610M | -619M | -841M | -747M | -576M |
| Capital Expenditures | 160M | -160M | -249M | -177M | 249M | -249M | -303M | -210M | -420M | -661M | -540M | -220M | -170M | -265M | -417M | -463M | -417M | -384M | -508M | -463M |
| CapEx % of Revenue | 0.44% | 0.49% | 0.78% | 0.55% | 0.83% | 0.82% | 0.99% | 0.64% | 1.22% | 2.08% | 1.52% | 0.57% | 0.49% | 0.73% | 1% | 1.04% | 0.81% | 1% | 1.41% | 1.57% |
| Acquisitions | 0 | 0 | -1M | 0 | 1M | -1M | 0 | 0 | 0 | 90M | 0 | 220M | 170M | 75M | 32M | 0 | -1M | 165M | -1M | 1M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -521M | -240M | -166M | -204M | -662M | -389M | -231M | -206M | -4M | 2M | 2M | -390M | -455M | -330M | -350M | -147M | -232M | -622M | -238M | -114M |
| Cash from Financing | -5.32B | 124M | -1.75B | -1.2B | -849M | -382M | -784M | -1.07B | -1.55B | -1.73B | -1.3B | -2.13B | -1.52B | -2B | -2.58B | -2.63B | -2.41B | -1.23B | -1.11B | -873M |
| Debt Issued (Net) | 0 | 1.48B | -180M | -73M | -224M | 383M | -68M | -60M | -165M | -355M | 6M | 81M | -112M | -237M | -403M | -1.27B | -344M | -790M | -660M | -497M |
| Equity Issued (Net) | -2.29B | -573M | -1.06B | -922M | -366M | -274M | -259M | -560M | -1.03B | -1.02B | -956M | -1.79B | -942M | -1.45B | -1.81B | -877M | -1.75B | -144M | -12M | 0 |
| Dividends Paid | -355M | -359M | -344M | -351M | -354M | -356M | -339M | -342M | -347M | -356M | -346M | -360M | -367M | -379M | -376M | -386M | -399M | -401M | -401M | -400M |
| Share Repurchases | -2.29B | -573M | -1.06B | -922M | -366M | -274M | -259M | -560M | -1.03B | -1.02B | -956M | -1.79B | -942M | -1.45B | -1.81B | -877M | -1.75B | -144M | -12M | 0 |
| Other Financing | -2.68B | -419M | -164M | 147M | 95M | -135M | -118M | -112M | -2M | 0 | 0 | -59M | -101M | 69M | 7M | -91M | 77M | 107M | -34M | 24M |
| Net Change in Cash | -146M | 1.05B | -76M | 229M | -95M | -22M | -525M | -60M | 497M | -507M | -407M | 756M | -446M | 659M | 893M | -1.42B | 2.75B | -1.48B | 624M | -74M |
| Free Cash Flow | 5.74B | 1.23B | 1.81B | 1.7B | 1.19B | 703M | 767M | 1.08B | 2.05B | 1.19B | 699M | 3.09B | 1.34B | 2.9B | 3.68B | 1.58B | 5.43B | 204M | 1.95B | 986M |
| FCF Margin % | 15.66% | 3.8% | 5.7% | 5.3% | 3.96% | 2.32% | 2.49% | 3.3% | 5.95% | 3.73% | 1.97% | 8.04% | 3.89% | 7.97% | 8.81% | 3.56% | 10.51% | 0.53% | 5.42% | 3.34% |
| FCF Growth % | 384.39% | 74.96% | 135.72% | 57.05% | -42.25% | -40.68% | 9.73% | -64.86% | 52.91% | -59.21% | -81% | 95.2% | -75.28% | 1324.02% | 89.05% | 60.45% | 228.37% | 152.17% | 574.63% | 507.44% |
| FCF per Share | 19.52 | 4.13 | 5.97 | 5.51 | 3.80 | 2.24 | 2.43 | 3.41 | 6.33 | 3.58 | 2.07 | 8.85 | 3.75 | 7.87 | 9.66 | 4.06 | 13.44 | 0.50 | 4.77 | 2.42 |
| FCF Conversion (FCF/Net Income) | 1.50x | 1.10x | 1.81x | 1.72x | 1.31x | -1.60x | 3.81x | 3.56x | 2.81x | 1.48x | 1.03x | 1.26x | 0.78x | 1.03x | 1.32x | 0.73x | 1.25x | 0.65x | 2.43x | 3.13x |
| Interest Paid | 0 | 96M | 171M | 99M | 179M | 84M | 182M | 91M | 183M | 100M | 190M | 99M | 191M | 82M | 187M | 92M | 198M | 93M | 0 | 0 |
| Taxes Paid | 0 | 63M | 301M | 115M | 248M | 35M | -835M | 176M | 556M | 103M | 396M | 688M | 1.79B | 616M | 658M | 1.71B | 712M | 204M | 0 | 0 |