Buyback yield (TTM)
3.97%
Shareholder yield (TTM)
5.88%
5Y share count change
-24.1%
Buyback spend (TTM)
$2.92B
Cumulative buybacks
$37.34B
Key takeaways
- Valero Energy (VLO) repurchased about $2.92B of stock over the trailing twelve months.
- Diluted share count is down 24.1% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- Cash buyback spend has compounded at +75.5% per year over the latest 5-year window.
- TTM repurchases used about 65% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Valero Energy (VLO)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Valero Energy (VLO)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Valero Energy (VLO)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Valero Energy (VLO)
Latest: $2.60B
Overview
As of the 2025 fiscal year, Valero Energy (VLO) reported buyback spend of $2.60B – declined 9.6% year-over-year.
Valero Energy buyback spend compound annual growth for the 2020–2025 (5 years) window is +75.5%, with mixed annual results across the window.
Valero Energy buyback spend plunged from $5.79B in 2007 to $2.60B in 2025, a 55.1% drawdown.
2007 marks the peak buyback spend at $5.79B, with the historical low of $1.20M recorded in 1990.
Valero Energy Buyback Spend 2025: $2.60B
Valero Energy buyback spend in 2025 was $2.60B, declined 9.6% below 2024.
Valero Energy Buyback Spend 2024: $2.88B
2024's buyback spend for Valero Energy came in at $2.88B, plunged 44.0% below 2023.
Valero Energy Buyback Spend 2023: $5.14B
Valero Energy posted buyback spend of $5.14B in 2023, grew 12.2% from 2022.
Valero Energy Buyback Spend 2022: $4.58B
In 2022, Valero Energy reported buyback spend of $4.58B, surged 16851.9% from 2021.
Valero Energy Buyback Spend 2021: $27.00M
Valero Energy buyback spend in 2021 was $27.00M.
See more financial history for Valero Energy (VLO).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $2.60B | $0.00 | $2.60B | 5.27% | 0.31B | -4.0% | |
| 2024 | $2.88B | $100.00M | $2.77B | 7.45% | 0.32B | -8.8% | |
| 2023 | $5.14B | $0.00 | $5.14B | 11.72% | 0.35B | -10.9% | |
| 2022 | $4.58B | $103.00M | $4.47B | 9.49% | 0.40B | -2.7% | |
| 2021 | $27.00M | $88.00M | −$61.00M | 0.09% | 0.41B | 0.0% | |
| 2020 | $156.00M | $0.00 | $156.00M | 0.68% | 0.41B | -1.5% | |
| 2019 | $1.73B | $89.00M | $1.64B | 4.51% | 0.41B | -3.5% | |
| 2018 | $1.71B | $86.00M | $1.62B | 5.41% | 0.43B | -3.6% | |
| 2017 | $1.37B | $77.00M | $1.29B | 3.43% | 0.44B | -4.3% | |
| 2016 | $1.34B | $0.00 | $1.34B | 4.34% | 0.46B | -7.2% | |
| 2015 | $2.84B | $59.00M | $2.78B | 8.38% | 0.50B | -5.7% | |
| 2014 | $1.30B | $60.00M | $1.24B | 5.06% | 0.53B | -3.3% | |
| 2013 | $928.00M | $64.00M | $864.00M | 3.44% | 0.55B | -1.4% | |
| 2012 | $281.00M | $58.00M | $223.00M | 1.64% | 0.56B | -2.3% | |
| 2011 | $349.00M | $58.00M | $291.00M | 3.27% | 0.57B | +0.2% | |
| 2010 | $13.00M | $54.00M | −$41.00M | 0.11% | 0.57B | +5.0% | |
| 2009 | $4.00M | $66.00M | −$62.00M | 0.05% | 0.54B | +3.2% | |
| 2008 | $955.00M | $59.00M | $896.00M | 9.40% | 0.52B | -9.5% | |
| 2007 | $5.79B | $100.00M | $5.69B | 17.01% | 0.58B | -8.4% | |
| 2006 | $2.02B | $108.00M | $1.91B | 7.22% | 0.63B | +7.5% | |
| 2005 | $571.00M | $0.00 | $571.00M | 1.96% | 0.59B | +6.5% | |
| 2004 | $318.00M | $0.00 | $318.00M | 2.99% | 0.55B | +13.1% | |
| 2003 | $73.20M | $0.00 | $73.20M | 1.37% | 0.49B | +12.0% | |
| 2002 | $45.50M | $0.00 | $45.50M | 1.25% | 0.44B | +70.7% | |
| 2001 | $156.68M | $0.00 | $156.68M | 4.28% | 0.26B | +5.4% | |
| 2000 | $64.29M | $0.00 | $64.29M | — | 0.24B | +6.6% | |
| 1999 | $13.50M | $0.00 | $13.50M | — | 0.23B | +1.2% | |
| 1998 | $34.50M | $0.00 | $34.50M | — | 0.22B | +6.6% | |
| 1997 | $10.60M | $0.00 | $10.60M | — | 0.21B | +19.2% | |
| 1996 | $5.80M | $0.00 | $5.80M | — | 0.18B | — | |
| 1995 | $5.80M | $0.00 | $5.80M | — | — | — | |
| 1994 | $1.20M | $0.00 | $1.20M | — | — | — | |
| 1993 | $1.20M | $0.00 | $1.20M | — | — | — | |
| 1992 | $1.20M | $0.00 | $1.20M | — | — | — | |
| 1991 | $46.20M | $0.00 | $46.20M | — | — | — | |
| 1990 | $1.20M | $0.00 | $1.20M | — | — | — | |
| 1989 | $5.80M | $0.00 | $5.80M | — | — | — |
- 2025$2.60B
- 2024$2.88B
- 2023$5.14B
- 2022$4.58B
- 2021$27.00M
- 2020$156.00M
- 2019$1.73B
- 2018$1.71B
- 2017$1.37B
- 2016$1.34B
- 2015$2.84B
- 2014$1.30B
- 2013$928.00M
- 2012$281.00M
- 2011$349.00M
- 2010$13.00M
- 2009$4.00M
- 2008$955.00M
- 2007$5.79B
- 2006$2.02B
- 2005$571.00M
- 2004$318.00M
- 2003$73.20M
- 2002$45.50M
- 2001$156.68M
- 2000$64.29M
- 1999$13.50M
- 1998$34.50M
- 1997$10.60M
- 1996$5.80M
- 1995$5.80M
- 1994$1.20M
- 1993$1.20M
- 1992$1.20M
- 1991$46.20M
- 1990$1.20M
- 1989$5.80M
Buybacks vs stock-based compensation for Valero Energy (VLO)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Buybacks vs dividends (share of cash returned) for Valero Energy (VLO)
How Valero Energy splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Valero Energy, ranked by their latest buyback spend.
| $20.27B | |
| $11.86B | |
| $5.02B | |
| $3.49B | |
| $2.56B | |
| $2.41B | |
| $0.00 | |
| $0.00 |
- $20.27B
- $11.86B
- $5.02B
- $3.49B
- $2.56B
- $2.41B
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $4.52B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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