Valero Energy annual return on equity
2009
2010
2011
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2021
2022
2023
2024
2025
Valero Energy Return on Equity (ROE) Growth & History (VLO)
Valero Energy's return on equity was 9.74% for fiscal 2025.
View full Valero Energy company overviewValero Energy annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 9.74% | −1.16 pp |
| 2024 | 2024-12-31 | 10.89% | −24.51 pp |
| 2023 | 2023-12-31 | 35.41% | −19.50 pp |
| 2022 | 2022-12-31 | 54.91% | +49.91 pp |
| 2021 | 2021-12-31 | 5.00% | +12.00 pp |
| 2020 | 2020-12-31 | −7.00% | −18.14 pp |
| 2019 | 2019-12-31 | 11.14% | −3.16 pp |
| 2018 | 2018-12-31 | 14.30% | −5.05 pp |
| 2017 | 2017-12-31 | 19.35% | +8.06 pp |
| 2016 | 2016-12-31 | 11.29% | −8.08 pp |
| 2015 | 2015-12-31 | 19.37% | +1.28 pp |
| 2014 | 2014-12-31 | 18.09% | +3.58 pp |
| 2013 | 2013-12-31 | 14.51% | +2.42 pp |
| 2012 | 2012-12-31 | 12.09% | −1.20 pp |
| 2011 | 2011-12-31 | 13.29% | +11.11 pp |
| 2010 | 2010-12-31 | 2.18% | +15.24 pp |
| 2009 | 2009-12-31 | −13.06% | — |
Valero Energy quarterly return on equity
Q2.09
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Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 15.22% | +12.22 pp |
| Q1 2026 | 2026-03-31 | 5.31% | +7.79 pp |
| Q4 2025 | 2025-12-31 | 4.78% | +3.65 pp |
| Q3 2025 | 2025-09-30 | 4.58% | +3.14 pp |
| Q2 2025 | 2025-06-30 | 3.00% | −0.42 pp |
| Q1 2025 | 2025-03-31 | −2.48% | −7.23 pp |
| Q4 2024 | 2024-12-31 | 1.13% | −3.47 pp |
| Q3 2024 | 2024-09-30 | 1.44% | −8.68 pp |
| Q2 2024 | 2024-06-30 | 3.42% | −4.23 pp |
| Q1 2024 | 2024-03-31 | 4.75% | −7.89 pp |
| Q4 2023 | 2023-12-31 | 4.59% | −9.10 pp |
| Q3 2023 | 2023-09-30 | 10.12% | −3.02 pp |
| Q2 2023 | 2023-06-30 | 7.65% | −15.94 pp |
| Q1 2023 | 2023-03-31 | 12.64% | +7.78 pp |
| Q4 2022 | 2022-12-31 | 13.69% | +8.07 pp |
| Q3 2022 | 2022-09-30 | 13.14% | +10.50 pp |
| Q2 2022 | 2022-06-30 | 23.59% | +22.67 pp |
| Q1 2022 | 2022-03-31 | 4.86% | +8.71 pp |
| Q4 2021 | 2021-12-31 | 5.62% | +7.51 pp |
| Q3 2021 | 2021-09-30 | 2.64% | +5.01 pp |
| Q2 2021 | 2021-06-30 | 0.91% | −5.56 pp |
| Q1 2021 | 2021-03-31 | −3.85% | +5.26 pp |
| Q4 2020 | 2020-12-31 | −1.89% | −6.83 pp |
| Q3 2020 | 2020-09-30 | −2.38% | −5.24 pp |
| Q2 2020 | 2020-06-30 | 6.48% | +3.61 pp |
| Q1 2020 | 2020-03-31 | −9.11% | −9.76 pp |
| Q4 2019 | 2019-12-31 | 4.94% | +0.57 pp |
| Q3 2019 | 2019-09-30 | 2.87% | −1.05 pp |
| Q2 2019 | 2019-06-30 | 2.87% | −1.00 pp |
| Q1 2019 | 2019-03-31 | 0.66% | −1.48 pp |
| Q4 2018 | 2018-12-31 | 4.37% | −6.82 pp |
| Q3 2018 | 2018-09-30 | 3.92% | −0.25 pp |
| Q2 2018 | 2018-06-30 | 3.87% | +1.11 pp |
| Q1 2018 | 2018-03-31 | 2.14% | +0.61 pp |
| Q4 2017 | 2017-12-31 | 11.19% | +9.38 pp |
| Q3 2017 | 2017-09-30 | 4.17% | +1.18 pp |
| Q2 2017 | 2017-06-30 | 2.76% | −1.19 pp |
| Q1 2017 | 2017-03-31 | 1.53% | −0.87 pp |
| Q4 2016 | 2016-12-31 | 1.82% | +0.39 pp |
| Q3 2016 | 2016-09-30 | 3.00% | −3.44 pp |
| Q2 2016 | 2016-06-30 | 3.95% | −2.45 pp |
| Q1 2016 | 2016-03-31 | 2.40% | −2.25 pp |
| Q4 2015 | 2015-12-31 | 1.42% | −4.18 pp |
| Q3 2015 | 2015-09-30 | 6.44% | +1.24 pp |
| Q2 2015 | 2015-06-30 | 6.40% | +3.47 pp |
| Q1 2015 | 2015-03-31 | 4.65% | +0.45 pp |
| Q4 2014 | 2014-12-31 | 5.60% | −1.22 pp |
| Q3 2014 | 2014-09-30 | 5.20% | +3.47 pp |
| Q2 2014 | 2014-06-30 | 2.93% | +0.36 pp |
| Q1 2014 | 2014-03-31 | 4.21% | +0.61 pp |
| Q4 2013 | 2013-12-31 | 6.83% | +1.12 pp |
| Q3 2013 | 2013-09-30 | 1.72% | −2.25 pp |
| Q2 2013 | 2013-06-30 | 2.57% | −2.54 pp |
| Q1 2013 | 2013-03-31 | 3.60% | +6.26 pp |
| Q4 2012 | 2012-12-31 | 5.71% | +5.44 pp |
| Q3 2012 | 2012-09-30 | 3.98% | −3.40 pp |
| Q2 2012 | 2012-06-30 | 5.11% | +0.34 pp |
| Q1 2012 | 2012-03-31 | −2.67% | −3.32 pp |
| Q4 2011 | 2011-12-31 | 0.27% | +3.15 pp |
| Q3 2011 | 2011-09-30 | 7.37% | +5.45 pp |
| Q2 2011 | 2011-06-30 | 4.77% | +0.84 pp |
| Q1 2011 | 2011-03-31 | 0.65% | +1.42 pp |
| Q4 2010 | 2010-12-31 | −2.88% | +6.32 pp |
| Q3 2010 | 2010-09-30 | 1.92% | +5.81 pp |
| Q2 2010 | 2010-06-30 | 3.92% | +5.51 pp |
| Q1 2010 | 2010-03-31 | −0.77% | — |
| Q4 2009 | 2009-12-31 | −9.20% | — |
| Q3 2009 | 2009-09-30 | −3.90% | — |
| Q2 2009 | 2009-06-30 | −1.59% | — |
Valero Energy return on equity trends
Over the last five fiscal years, Valero Energy's return on equity increased from −7.00% to 9.74%, a change of +16.73 percentage points. The latest reported quarter, Q2 2026, shows 15.22%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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