Question 1

What is Valero Energy's P/FCF ratio?

Accepted Answer

Valero Energy (VLO) P/FCF ratio is 15.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Valero Energy?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Valero Energy specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

Is Valero Energy's P/FCF ratio high or low?

Accepted Answer

Valero Energy's P/FCF ratio of 15.6× is above its own 5-year average of 10.1× and below the sector median of 22.1×. That places the current reading at the 89th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Valero Energy's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Valero Energy (VLO) P/FCF ratio has ranged from a low of 2.8× in 2023 to a high of 202.3× in 2010. The 5-year average is 10.1× and the 5-year median is 8.1×.

Question 7

What was Valero Energy's P/FCF ratio in 2025?

Accepted Answer

Valero Energy (VLO) P/FCF ratio at the end of 2025 was 9.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Valero Energy's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$49.3B	$5.4B	9.1×	+1.5×	Dec 31, 2025
2024	$38.6B	$5.09B	7.6×	+2.1×	Dec 31, 2024
2023	$43.8B	$8.03B	5.5×	+1.0×	Dec 31, 2023
2022	$48.2B	$10.9B	4.4×	-2.9×	Dec 31, 2022
2021	$30.6B	$4.19B	7.3×	—	Dec 31, 2021
2020	$23B	-$840M	—	—	Dec 31, 2020
2019	$38.3B	$1.91B	20.0×	+6.3×	Dec 31, 2019
2018	$31.6B	$2.3B	13.7×	+4.0×	Dec 31, 2018
2017	$40B	$4.1B	9.7×	+1.0×	Dec 31, 2017
2016	$30.8B	$3.54B	8.7×	+0.2×	Dec 31, 2016
2015	$33.9B	$3.99B	8.5×	-3.8×	Dec 31, 2015
2014	$25.6B	$2.09B	12.3×	+4.4×	Dec 31, 2014
2013	$27B	$3.44B	7.8×	+0.5×	Dec 31, 2013
2012	$17.2B	$2.34B	7.3×	+1.0×	Dec 31, 2012
2011	$10.7B	$1.68B	6.3×	-2.7×	Dec 31, 2011
2010	$12B	$1.32B	9.1×	—	Dec 31, 2010
2009	$8.6B	-$504M	—	—	Dec 31, 2009
2008	$10.2B	$202M	50.3×	+39.0×	Dec 31, 2008
2007	$34B	$3B	11.4×	+2.4×	Dec 31, 2007
2006	$28B	$3.13B	9.0×	+1.0×	Dec 31, 2006
2005	$29.2B	$3.67B	8.0×	+1.6×	Dec 31, 2005
2004	$10.6B	$1.67B	6.4×	-5.7×	Dec 31, 2004
2003	$5.32B	$441M	12.1×	—	Dec 31, 2003
2002	$3.64B	-$539M	—	—	Dec 31, 2002


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Enbridge (ENB)	73.7×
Texas Pacific Land (TPL)	66.3×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
Baker Hughes (BKR)	26.4×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
SLB (SLB)	16.5×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for Valero Energy (VLO) 2003-2026

P/FCF Ratio daily chart for Valero Energy (VLO)

Historical P/FCF Ratio for Valero Energy (VLO) from 2002 to 2025

About P/FCF Ratio at Valero Energy (VLO)

Valero Energy P/FCF Ratio by Year

Valero Energy P/FCF Ratio 2025: 9.1×

Valero Energy P/FCF Ratio 2024: 7.6×

Valero Energy P/FCF Ratio 2023: 5.5×

Valero Energy P/FCF Ratio 2022: 4.4×

Valero Energy P/FCF Ratio 2021: 7.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Valero Energy (VLO) Key Financials