Valero Energy Corp.Valero Energy Corp.

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Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol, and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations. The Ethanol segment includes its ethanol operations, associated marketing activities, and logistics assets that support its ethanol operations. The Renewable Diesel covers the operations of Diamond Green Diesel Holdings LLC. The company was founded on January 1, 1980 and is headquartered in San Antonio, TX.

  • VLO Symbol
  • NYSE Exchange
  • 10,261 Employees
5 rated
  • $67.13, $-3.05 (-4.35%) Previous Close
  • 4,991,216 Previous Volume
  • $31.00 / $101.99 52 week low / high
  • -34.18% Percent off 52 week high
  • 2020-05-28 Updated
  • 6.94% Dividend yield (trailing)
  • 1.46% Dividend yield (forward)
  • 406,298,554 Public float
  • 407,699,000 Outstanding shares
  • 67.92 P/E
  • 28.61 B Market Cap
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Financial data

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19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Total Revenue
110B 120B 94B 76B 88B
Cost Of Revenue
100B 110B 89B 72B 80B
Gross Profit
4.7B 5.6B 4.8B 3.7B 7.4B
Research and Development
Selling General and Admin
Operating Expense
100B 110B 90B 73B 81B
Operating Income
3.8B 4.7B 4B 3.7B 5.9B
Other Income Expense Net
-350M -440M -750M -520M 84M
EBIT
3.8B 4.7B 4B 3.7B 5.9B
Interest Income
450M 470M 470M 450M 430M
Pretax Income
3.5B 4.2B 3.2B 3.2B 6B
Income Tax
700M 880M -950M 770M 1.9B
Minority Interest
360M 230M 91M 130M 110M
Net Income
2.4B 3.1B 4.1B 2.3B 4B
Net Income Basic
2.4B 3.1B 4.1B 2.3B 4B
19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Current cash
2.6B 3B 5.9B 4.8B 4.1B
Short term investments
Receivables
8.1B 7B 6.8B 5.7B 4.1B
Inventory
7B 6.5B 6.4B 5.7B 5.9B
Other current assets
470M 820M 160M 320M 280M
Current assets
19B 18B 19B 17B 15B
Long term investments
940M 540M 530M 200M 200M
Property plant equipment
31B 29B 27B 26B 27B
Goodwill
260M 260M
Intangible assets
280M 310M 140M 150M 160M
Other assets
2.8B 2.2B 2B 2.1B 2B
Total assets
55B 51B 51B 47B 44B
Accounts payable
10B 8.6B 8.3B 6.4B 4.9B
Current long term debt
490M 240M 120M 120M 130M
Other current liabilities
1.9B 1.8B 2B 1.8B 1.6B
Total current liabilities
13B 11B 11B 8.3B 7.4B
Long term debt
10B 8.9B 8.8B 7.9B 7.3B
Other liabilities
700M 2.9B 2.7B 1.7B 1.6B
Minority Interest
360M 230M 91M 130M 110M
Total Liabilities
32B 28B 28B 26B 23B
Common stock
410M 420M 430M 450M 470M
Retained earning
32B 31B 29B 26B 25B
Treasury stock
1.4M 580K 1.5M 1.6M 2.3M
Capital surplus
6.8B 7B 7B 7.1B 7.1B
Shareholder equity
22B 22B 22B 20B 21B
Net tangible assets
22B 21B 22B 20B 21B
19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Net Income
2.4B 3.1B 4.1B 2.3B 4B
Depreciation
2.3B 2.1B 2B 1.9B 1.8B
Changes in receivables
-1.1B -200M -1.1B -1.6B
Changes in inventories
-390M -200M -520M 770M -220M
Cash change
-400M -2.9B 1B 700M 430M
Cash flow
5.5B 4.4B 5.5B 4.8B 5.6B
Capital expenditures
-2.8B -3.2B -2B -2B -2.3B
Investments
-160M
Investing activity other
-88M -2M -6M -55M
Total investing cash flows
-3B -3.9B -2.4B -2B -2.5B
Dividends paid
-1.5B -1.4B -1.2B -1.1B -850M
Net borrowings
320M 8M 360M 680M 930M
Other financing cash flows
-98M -130M -93M -250M -20M
Cash flow financing
-3B -3.2B -2.3B -2B -2.6B
Exchange rate effect
68M -140M 210M -100M -150M

Dividends

Dividends represent one part of the company’s profits from the previous period. The company distributes them between its owner-shareholders. Businesses may pay out dividends, but they are not obliged to. The method that is used to calculate the dividend is described in the company's dividend policy or articles of association. The clearer and more transparent the calculation principle, the more investors love the company. Many factors affect whether dividends are paid out. The main ones are the need for financing by major shareholders and tax optimization. So, if the state in the person of a fund or state-supported organization is one of the shareholders, the payment of regular dividends is practically guaranteed. The same is true, but to a lesser extent, in the case of a serious debt burden that is incurred by one of the business owners.

It makes no sense to discuss the abstract amount of dividends for the period in isolation of the company's financial indicators, business development prospects, payment history, and current share price. It is important to analyze and understand the reasons for dividend payments and to be skeptical about an unusually high dividend yield. This may be a one-off exceptional case. You will find information about dividends, historical dividend yield, and recovery of the stock price after Valero Energy Corp. made payouts below.

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Dividend History

The dividend payment history is important to analyze when compiling an investment portfolio from which an investor seeks to receive regular income. If the company can make stable payments, this is an indicator that the company is in a good state of affairs. It may happen that the management and the main business owners refuse to pay dividends and instead opt to distribute profits in order to reduce credit commitments or invest in new projects. But the existence of a stable payout history of increasing dividends is a feather in the company's cap. Some issuers pay dividends 2 times a year or even quarterly, which creates a constant cash flow for shareholders. This additionally bolsters the stock price. The dividend payment statistics and the amount of these payments by Valero Energy Corp. are presented in the table and graph below.

Statistics for 5 years: 2015-2020

Frequency of payments, how many times a year 4
Duration of growth, the number of years 4
Stability of the payments 1.0
Stability of dividend growth 0.8
Dividend growth, simple 111.76 %
Dividend growth, CAGR 16.19 %
Average dividend $0.68
Average dividends per year $2.74
Average dividend yield 0.93 %
Average dividend yield per year 3.63 %
Minimum $0.40 (2015-03-03)
Maximum $0.90 (2019-03-05)
Dividend History, Valero Energy Corp. (VLO)
Declared Date Ex-Dividend Date Record date Pay Date Frequency Payout Amount Yield
2020-04-24 2020-05-13 2020-05-14 2020-06-03 quarterly $0.98 -
2020-01-23 2020-02-11 2020-02-12 2020-03-04 quarterly $0.98 1.52%
2019-10-30 2019-11-19 2019-11-20 2019-12-11 quarterly $0.90 0.95%
2019-07-18 2019-08-05 2019-08-06 2019-09-04 Quarterly $0.90 1.2%
2019-04-30 2019-05-14 2019-05-15 2019-06-04 Quarterly $0.90 1.22%
2019-01-24 2019-02-12 2019-02-13 2019-03-05 Quarterly $0.90 1.11%
2018-10-31 2018-11-19 2018-11-20 2018-12-12 Quarterly $0.80 1.09%
2018-07-20 2018-08-06 2018-08-07 2018-09-05 Quarterly $0.80 0.68%
2018-05-03 2018-05-16 2018-05-17 2018-06-05 Quarterly $0.80 0.65%
2018-01-23 2018-02-12 2018-02-13 2018-03-06 Quarterly $0.80 0.87%
2017-11-01 2017-11-20 2017-11-21 2017-12-12 Quarterly $0.70 0.81%
2017-07-20 2017-08-07 2017-08-09 2017-09-07 Quarterly $0.70 1.02%
2017-05-03 2017-05-15 2017-05-17 2017-06-07 Quarterly $0.70 1.12%
2017-01-26 2017-02-13 2017-02-15 2017-03-07 Quarterly $0.70 1.07%
2016-11-02 2016-11-18 2016-11-22 2016-12-15 Quarterly $0.60 0.89%
2016-07-28 2016-08-09 2016-08-11 2016-09-08 Quarterly $0.60 1.07%
2016-05-12 2016-05-23 2016-05-25 2016-06-21 Quarterly $0.60 1.14%
2016-01-21 2016-02-05 2016-02-09 2016-03-03 Quarterly $0.60 0.94%
2015-10-28 2015-11-19 2015-11-23 2015-12-17 Quarterly $0.50 0.7%
2015-07-13 2015-07-31 2015-08-04 2015-09-02 Quarterly $0.40 0.68%
2015-04-30 2015-05-11 2015-05-13 2015-06-10 Quarterly $0.40 0.69%
2015-01-23 2015-02-09 2015-02-11 2015-03-03 Quarterly $0.40 0.67%
2014-10-23 2014-11-17 2014-11-19 2014-12-17 Quarterly $0.28 0.58%
2014-07-29 2014-08-18 2014-08-20 2014-09-17 Quarterly $0.28 0.57%
2014-05-01 2014-05-19 2014-05-21 2014-06-18 Quarterly $0.25 0.45%
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Stock Price Recovery History

To receive dividends, you must be a company shareholder as of a certain date as determined by the company's Board of Directors. This date is the closing of the shareholder register book or the “dividend cut-off”. On the day following the cut-off, the stock price falls by about the amount of the declared dividend. This is the "dividend gap". Investors are always interested in the following question: how quickly will the company's shares recover from this drop? The more frequently the company pays dividends, the faster the stock price recovers. Many factors influence how quickly the dividend gap is bridged: the news that is released by the company, its expected reporting figures, the purchase/sale of shares by the company's management and large owners, industry events, etc. Historical data about how quickly the Valero Energy Corp. share price has recovered in the past are presented in the table below:

Stock Price Recovery History, Valero Energy Corp. (VLO)
Ex-Dividend Date Payout Amount Stock Price Days Taken For Stock Price to Recover
2020-05-13 $0.98 $59.05 1
2020-02-11 $0.98 $84.37 2
2019-11-19 $0.90 $101.06 -
2019-08-05 $0.90 $75.78 1
2019-05-14 $0.90 $82.96 1
2019-02-12 $0.90 $82.33 1
2018-11-19 $0.80 $80.69 14
2018-08-06 $0.80 $114.89 1
2018-05-16 $0.80 $114.99 1
2018-02-12 $0.80 $88.84 1
2017-11-20 $0.70 $82.09 1
2017-08-07 $0.70 $68.00 21
2017-05-15 $0.70 $65.55 28
2017-02-13 $0.70 $67.04 1
2016-11-18 $0.60 $63.39 3
2016-08-09 $0.60 $52.49 1
2016-05-23 $0.60 $54.46 1
2016-02-05 $0.60 $57.12 7
2015-11-19 $0.50 $71.14 1
2015-07-31 $0.40 $65.60 6
2015-05-11 $0.40 $58.27 2
2015-02-09 $0.40 $54.45 1
2014-11-17 $0.28 $49.72 1
2014-08-18 $0.28 $53.32 1
2014-05-19 $0.25 $55.27 9
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Historical Annual Dividend Data & Growth

When selecting shares for purchase, investors are interested in how do company managers and major shareholders view the payment of dividends. Were dividends paid in previous years, and, if so, then to what extent? What was the dividend yield, i.e., the ratio of the amount of the dividend and stock price at the time of payment? Is there a tendency to increase the amount of the dividend both in absolute terms and as a % from year to year? For the investor, this is a guarantee of the company's reliability and a demonstration of its stability. If the company has paid dividends over the course of many years, the amounts of payments will increase. This establishes trust with shareholders, and it has a positive effect on the overall image of the company. The table below shows the payment history and dividend yield for Valero Energy Corp.:

Historical Annual Dividend Data & Growth, Valero Energy Corp. (VLO)
Year Last Stock Price Avg stock price Dividend Sum Dividend Yield (at avg price) Dividend Yield (at last price)
2020 $67.13 $66.49 $1.96 2.95% 2.92%
2019 $92.88 $85.08 $3.60 4.23% 3.88%
2018 $74.97 $101.84 $3.20 3.14% 4.27%
2017 $91.91 $70.80 $2.80 3.95% 3.05%
2016 $68.32 $58.70 $2.40 4.09% 3.51%
2015 $70.71 $61.70 $1.70 2.76% 2.40%
2014 $49.50 $51.46 $0.80 1.55% 1.62%

SWOT

A SWOT analysis is a technique that allows you to conduct a comprehensive express overview of a company. Look at the strengths and weaknesses of the business, and evaluate external opportunities and threats. The result of the analysis is clear, and it will help you to make the right decision. Registered users can compile a SWOT analysis for any issuer. But it should be understood that how facts are distributed on graphs can be subjective. For example, a decision to make large capital expenditures may be a weakness for the company today, but they may offer growth opportunities and competitive advantages in the future. Or if the state participates as a shareholder, then this is a guarantee of stability and reliability. However, this factor may limit the development of the company and expose it to geopolitical risks.

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News Valero Energy Corp.

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