Operating Income for Valero Energy (VLO)
According to Valero Energy's latest reported financial statements, the company's current operating income (TTM) is $3.18B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$3.18B
YoY change
+14.8%
5Y CAGR
N/A
Peak year (2022)
$15.69B
Cumulative operating income
$106.04B
Operating Income history chart for Valero Energy (VLO) from 1985 to 2025
Operating Income history table for Valero Energy (VLO) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $4.31B | +14.8% | ||
| 2024 | $3.75B | -68.3% | ||
| 2023 | $11.86B | -24.4% | ||
| 2022 | $15.69B | +636.6% | ||
| 2021 | $2.13B | -234.9% | ||
| 2020 | -$1.58B | -141.2% | ||
| 2019 | $3.84B | -16.1% | ||
| 2018 | $4.57B | +27.0% | ||
| 2017 | $3.60B | +0.8% | ||
| 2016 | $3.57B | -43.8% | ||
| 2015 | $6.36B | +7.7% | ||
| 2014 | $5.90B | +48.9% | ||
| 2013 | $3.96B | -1.2% | ||
| 2012 | $4.01B | +9.0% | ||
| 2011 | $3.68B | +96.2% | ||
| 2010 | $1.88B | -3334.5% | ||
| 2009 | -$58.00M | -110.3% | ||
| 2008 | $563.00M | -91.9% | ||
| 2007 | $6.92B | -13.6% | ||
| 2006 | $8.01B | +46.7% | ||
| 2005 | $5.46B | +83.2% | ||
| 2004 | $2.98B | +143.8% | ||
| 2003 | $1.22B | +159.5% | ||
| 2002 | $470.90M | -53.0% | ||
| 2001 | $1.00B | +63.9% | ||
| 2000 | $610.98M | +784.2% | ||
| 1999 | $69.10M | -234.7% | ||
| 1998 | -$51.30M | -124.3% | ||
| 1997 | $211.00M | +5.0% | ||
| 1996 | $200.90M | +6.4% | ||
| 1995 | $188.80M | +50.0% | ||
| 1994 | $125.90M | +66.8% | ||
| 1993 | $75.50M | -43.7% | ||
| 1992 | $134.00M | +12.3% | ||
| 1991 | $119.30M | -11.2% | ||
| 1990 | $134.40M | +92.8% | ||
| 1989 | $69.70M | +80.1% | ||
| 1988 | $38.70M | -167.5% | ||
| 1987 | -$57.30M | -1.0% | ||
| 1986 | -$57.90M | -144.5% | ||
| 1985 | $130.20M | — |
Operating Income values are taken from Valero Energy's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
Valero Energy (VLO) most recent annual operating income stands at $4.31B (2025) – grew 14.8% year-over-year.
Looking at the 2015–2025 (10 years) stretch, Valero Energy operating income compounded at -3.8% per year, with a net decline across the window.
Between 2022 and 2025, Valero Energy operating income plunged 72.5%, falling from $15.69B to $4.31B.
$15.69B stands as the all-time-high annual operating income, posted in 2022, against a low of -$1.58B during 2020.
Valero Energy (VLO) sits 9th of 8 Energy peers we track on this metric, against a peer median of $9.44B.
Valero Energy Operating Income by Year
Valero Energy Operating Income 2025: $4.31B
Valero Energy operating income in 2025 was $4.31B, grew 14.8% from 2024.
Valero Energy Operating Income 2024: $3.75B
Valero Energy operating income in 2024 was $3.75B, plunged 68.3% below 2023.
Valero Energy Operating Income 2023: $11.86B
Valero Energy operating income in 2023 was $11.86B, declined 24.4% below 2022.
Valero Energy Operating Income 2022: $15.69B
Valero Energy operating income in 2022 was $15.69B, surged 636.6% from 2021. This figure represents the highest annual value in the available history.
Valero Energy Operating Income 2021: $2.13B
Valero Energy operating income in 2021 was $2.13B.
See more financial history for Valero Energy (VLO).
Sector peers — Operating Income
Companies in the same sector as Valero Energy, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Exxon Mobil Corporation (XOM) | $33.94B | Energy |
| Chevron Corporation (CVX) | $16.67B | Energy |
| ConocoPhillips (COP) | $11.49B | Energy |
| Enbridge Inc. (ENB) | $10.96B | Energy |
| EOG Resources, Inc. (EOG) | $7.93B | Energy |
| SLB N.V. (SLB) | $5.46B | Energy |
| Kinder Morgan, Inc. (KMI) | $4.81B | Energy |
| The Williams Companies, Inc. (WMB) | $4.40B | Energy |
Frequently asked questions
What is Valero Energy's operating income?
- Latest reported operating income for Valero Energy (VLO) is $3.18B (period ending December 31, 2025).
How has Valero Energy operating income changed year-over-year?
- Valero Energy (VLO) operating income changed +14.8% year-over-year on the latest annual filing.
What is the long-term growth rate of Valero Energy operating income?
- Valero Energy (VLO) operating income compound annual growth rate is -3.8% over the most recent 10 years available.
When did Valero Energy operating income hit its highest annual value?
- Valero Energy operating income reached its highest annual value of $15.69B in 2022.
What was Valero Energy operating income in 2024?
- Valero Energy (VLO) operating income in 2024 was $3.75B.
What was Valero Energy operating income in 2025?
- Valero Energy (VLO) operating income in 2025 was $4.31B.
Metrics overview
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