# VALERO ENERGY CORP/TX (VLO) FY2025 Annual P&L / Income Statement

- Company: VALERO ENERGY CORP/TX (VLO)
- Period: 2025-01-01 to 2025-12-31
- Filing: FY2025 10-K, filed 2026-02-25, accession number 0001628280-26-011499
- Page: https://plicit.ai/financials/vlo/fy2025-annual-income-statement
- Chart image: https://plicit.ai/charts/vlo-fy2025-annual-income-statement-sankey.png

## Chart details: Revenue by Business Segment by Product and Service

Income statement for 2025-01-01 through 2025-12-31. View: Segments by Product and Service. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Revenues**: 122,687,000,000 US dollars
- **Total cost of sales**: 117,255,000,000 US dollars
- **Gross profit (calculated)**: 5,432,000,000 US dollars
- **Operating expenses (calculated)**: 2,251,000,000 US dollars
- **Operating income**: 3,181,000,000 US dollars
- **Other income (expense), net (calculated)**: negative 176,000,000 US dollars
- **Income before income tax expense**: 3,005,000,000 US dollars
- **Income tax expense**: 759,000,000 US dollars
- **Net income**: 2,246,000,000 US dollars
- **Ethanol - Distillers Grains**: 847,000,000 US dollars
- **Ethanol - Ethanol**: 3,174,000,000 US dollars
- **Refining - Other Product Revenues**: 10,164,000,000 US dollars
- **Refining - Distillates**: 55,077,000,000 US dollars
- **Refining - Gasoline and Blendstocks**: 50,917,000,000 US dollars
- **Renewable Diesel - Neat SAF**: 297,000,000 US dollars
- **Renewable Diesel - Renewable Diesel**: 2,073,000,000 US dollars
- **Renewable Diesel - Renewable Naphtha**: 138,000,000 US dollars
- **Asset impairment loss**: 1,131,000,000 US dollars
- **Other operating expenses**: 15,000,000 US dollars
- **General and administrative expenses (excluding depreciation and amortization expense reflected below)**: 1,042,000,000 US dollars
- **Depreciation and amortization expense**: 63,000,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to VALERO ENERGY CORP/TX: $2.35 B; to noncontrolling interests: −$102.00 M.

## Chart details: Revenue by Geography

- Page: https://plicit.ai/financials/vlo/fy2025-annual-income-statement/revenue-by-geography
- Chart image: https://plicit.ai/charts/vlo-fy2025-annual-revenue-by-geography-sankey.png

Income statement for 2025-01-01 through 2025-12-31. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Revenues**: 122,687,000,000 US dollars
- **Total cost of sales**: 117,255,000,000 US dollars
- **Gross profit (calculated)**: 5,432,000,000 US dollars
- **Operating expenses (calculated)**: 2,251,000,000 US dollars
- **Operating income**: 3,181,000,000 US dollars
- **Other income (expense), net (calculated)**: negative 176,000,000 US dollars
- **Income before income tax expense**: 3,005,000,000 US dollars
- **Income tax expense**: 759,000,000 US dollars
- **Net income**: 2,246,000,000 US dollars
- **UNITED STATES**: 87,819,000,000 US dollars
- **CANADA**: 8,137,000,000 US dollars
- **U.K. and Ireland**: 15,830,000,000 US dollars
- **Mexico and Peru**: 5,168,000,000 US dollars
- **Other Countries**: 5,733,000,000 US dollars
- **Asset impairment loss**: 1,131,000,000 US dollars
- **Other operating expenses**: 15,000,000 US dollars
- **General and administrative expenses (excluding depreciation and amortization expense reflected below)**: 1,042,000,000 US dollars
- **Depreciation and amortization expense**: 63,000,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to VALERO ENERGY CORP/TX: $2.35 B; to noncontrolling interests: −$102.00 M.

## Chart details: Revenue by Business Segment (3 categories)

- Page: https://plicit.ai/financials/vlo/fy2025-annual-income-statement/revenue-by-business-segment-3-categories
- Chart image: https://plicit.ai/charts/vlo-fy2025-annual-revenue-by-business-segment-3-categories-sankey.png

Income statement for 2025-01-01 through 2025-12-31. View: Business segment (3 categories). Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Revenues**: 122,687,000,000 US dollars
- **Total cost of sales**: 117,255,000,000 US dollars
- **Gross profit (calculated)**: 5,432,000,000 US dollars
- **Operating expenses (calculated)**: 2,251,000,000 US dollars
- **Operating income**: 3,181,000,000 US dollars
- **Other income (expense), net (calculated)**: negative 176,000,000 US dollars
- **Income before income tax expense**: 3,005,000,000 US dollars
- **Income tax expense**: 759,000,000 US dollars
- **Net income**: 2,246,000,000 US dollars
- **Refining**: 116,158,000,000 US dollars
- **Renewable Diesel**: 2,508,000,000 US dollars
- **Ethanol**: 4,021,000,000 US dollars
- **Asset impairment loss**: 1,131,000,000 US dollars
- **Other operating expenses**: 15,000,000 US dollars
- **General and administrative expenses (excluding depreciation and amortization expense reflected below)**: 1,042,000,000 US dollars
- **Depreciation and amortization expense**: 63,000,000 US dollars
- **Refining costs (calculated)**: 112,126,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Renewable Diesel costs (calculated)**: 4,753,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Ethanol costs (calculated)**: 4,603,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Reconciling items (calculated)**: negative 1,976,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Of which attributable to VALERO ENERGY CORP/TX: $2.35 B; to noncontrolling interests: −$102.00 M.

## Chart details: Revenue by Business Segment (6 categories)

- Page: https://plicit.ai/financials/vlo/fy2025-annual-income-statement/revenue-by-business-segment-6-categories
- Chart image: https://plicit.ai/charts/vlo-fy2025-annual-revenue-by-business-segment-6-categories-sankey.png

Income statement for 2025-01-01 through 2025-12-31. View: Business segment (6 categories). Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Revenues**: 122,687,000,000 US dollars
- **Total cost of sales**: 117,255,000,000 US dollars
- **Gross profit (calculated)**: 5,432,000,000 US dollars
- **Operating expenses (calculated)**: 2,251,000,000 US dollars
- **Operating income**: 3,181,000,000 US dollars
- **Other income (expense), net (calculated)**: negative 176,000,000 US dollars
- **Income before income tax expense**: 3,005,000,000 US dollars
- **Income tax expense**: 759,000,000 US dollars
- **Net income**: 2,246,000,000 US dollars
- **Refining**: 116,166,000,000 US dollars
- **Renewable Diesel**: 4,597,000,000 US dollars
- **Ethanol**: 4,977,000,000 US dollars
- **Asset impairment loss**: 1,131,000,000 US dollars
- **Other operating expenses**: 15,000,000 US dollars
- **General and administrative expenses (excluding depreciation and amortization expense reflected below)**: 1,042,000,000 US dollars
- **Depreciation and amortization expense**: 63,000,000 US dollars
- **Revenue before reconciliation (calculated)**: 125,740,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation.
- **Refining**: negative 8,000,000 US dollars. Reported reconciliation to consolidated revenue.
- **Renewable Diesel**: negative 2,089,000,000 US dollars. Reported reconciliation to consolidated revenue.
- **Ethanol**: negative 956,000,000 US dollars. Reported reconciliation to consolidated revenue.
- **Refining costs (calculated)**: 112,126,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Renewable Diesel costs (calculated)**: 4,753,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Ethanol costs (calculated)**: 4,603,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.
- **Reconciling items (calculated)**: negative 1,976,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
- Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue.
- Of which attributable to VALERO ENERGY CORP/TX: $2.35 B; to noncontrolling interests: −$102.00 M.