Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

This company has been moved to the archive! The financial data has not been updated since October 30, 2024.

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Valero Energy Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Inventory turnover 18.23 16.32 16.36 17.39 18.02 20.28 20.76 23.64 23.61 20.24 17.64 17.69 15.05 13.32 10.66 10.87 13.94 15.61 28.30 14.76
Payables turnover 11.16 8.99 10.39 10.49 10.15 13.04 14.75 12.54 12.04 8.69 8.31 8.87 9.54 8.00 6.88 10.79 14.26 18.19 17.61 10.15
Working capital turnover 15.50 15.92 14.71 15.37 16.82 17.97 21.87 26.44 31.24 28.60 37.33 26.42 21.15 15.70 12.04 9.89 10.44 16.04 38.84 18.65
Average No. Days
Average inventory processing period 20 22 22 21 20 18 18 15 15 18 21 21 24 27 34 34 26 23 13 25
Less: Average payables payment period 33 41 35 35 36 28 25 29 30 42 44 41 38 46 53 34 26 20 21 36

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Valero Energy Corp. inventory turnover ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Valero Energy Corp. payables turnover ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Valero Energy Corp. working capital turnover ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Valero Energy Corp. number of days of payables outstanding increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.

Inventory Turnover

Valero Energy Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales 32,122 33,051 29,776 33,540 34,634 31,528 32,132 37,071 40,431 45,162 36,923 33,993 28,602 27,039 21,214 16,834 16,207 8,424 24,187 25,876 26,130 27,810 23,730
Inventories 7,048 8,028 7,912 7,583 7,513 6,961 7,455 6,752 6,628 7,147 7,174 6,265 6,227 6,103 5,881 6,038 5,357 5,420 3,675 7,013 6,376 6,281 6,554
Short-term Activity Ratio
Inventory turnover1 18.23 16.32 16.36 17.39 18.02 20.28 20.76 23.64 23.61 20.24 17.64 17.69 15.05 13.32 10.66 10.87 13.94 15.61 28.30 14.76
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp. 19.95 18.80 19.58 22.86 21.48 23.28 25.16 28.58 25.22 26.71 27.10 24.68 21.96 18.60 17.05 16.64
ConocoPhillips 36.92 39.01 38.24 40.16 45.23 53.99 60.05 64.39 61.22 52.97 45.80 37.94 34.71 25.71 20.45 18.75
Exxon Mobil Corp. 14.24 13.90 14.11 13.32 14.16 15.02 16.69 16.32 16.05 14.93 13.84 14.73 12.30 11.14 9.86 9.47
Occidental Petroleum Corp. 11.93 9.64 12.67 13.97 14.84 15.60 15.37 17.79 18.75 21.57 20.63 14.06 12.52 10.63 7.59 9.38

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Inventory turnover = (Cost of salesQ3 2024 + Cost of salesQ2 2024 + Cost of salesQ1 2024 + Cost of salesQ4 2023) ÷ Inventories
= (32,122 + 33,051 + 29,776 + 33,540) ÷ 7,048 = 18.23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Valero Energy Corp. inventory turnover ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Payables Turnover

Valero Energy Corp., payables turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales 32,122 33,051 29,776 33,540 34,634 31,528 32,132 37,071 40,431 45,162 36,923 33,993 28,602 27,039 21,214 16,834 16,207 8,424 24,187 25,876 26,130 27,810 23,730
Accounts payable 11,516 14,565 12,458 12,567 13,342 10,825 10,498 12,728 13,003 16,643 15,236 12,495 9,820 10,168 9,113 6,082 5,237 4,652 5,906 10,205 9,504 10,135 10,005
Short-term Activity Ratio
Payables turnover1 11.16 8.99 10.39 10.49 10.15 13.04 14.75 12.54 12.04 8.69 8.31 8.87 9.54 8.00 6.88 10.79 14.26 18.19 17.61 10.15
Benchmarks
Payables Turnover, Competitors2
Chevron Corp. 9.68 9.38 9.16 9.64 9.35 11.48 12.94 12.44 10.46 8.28 8.78 9.46 8.79 7.88 7.45 8.63
ConocoPhillips 10.70 11.14 10.82 11.04 11.72 14.52 14.88 12.84 12.02 11.18 11.03 9.16 8.83 8.15 5.94 7.04
Occidental Petroleum Corp. 6.90 6.33 7.06 7.75 7.50 8.87 10.11 9.09 9.78 6.49 6.22 6.66 5.98 5.51 4.83 5.96

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Payables turnover = (Cost of salesQ3 2024 + Cost of salesQ2 2024 + Cost of salesQ1 2024 + Cost of salesQ4 2023) ÷ Accounts payable
= (32,122 + 33,051 + 29,776 + 33,540) ÷ 11,516 = 11.16

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Valero Energy Corp. payables turnover ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Working Capital Turnover

Valero Energy Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 23,976 27,115 25,674 26,221 26,577 23,695 23,335 24,133 22,696 27,409 23,313 21,165 18,790 19,372 17,591 15,844 15,422 12,762 11,465 18,969 17,033 17,811 18,480
Less: Current liabilities 15,298 18,318 16,149 16,802 17,592 14,948 15,365 17,461 17,237 21,969 19,785 16,851 14,313 14,214 12,307 9,283 8,122 7,300 8,732 13,160 12,130 12,548 12,913
Working capital 8,678 8,797 9,525 9,419 8,985 8,747 7,970 6,672 5,459 5,440 3,528 4,314 4,477 5,158 5,284 6,561 7,300 5,462 2,733 5,809 4,903 5,263 5,567
 
Revenues, includes excise taxes on sales by certain of foreign operations 32,876 34,490 31,759 35,414 38,404 34,509 36,439 41,746 44,454 51,641 38,542 35,903 29,520 27,748 20,806 16,604 15,809 10,397 22,102 27,879 27,249 28,933 24,263
Short-term Activity Ratio
Working capital turnover1 15.50 15.92 14.71 15.37 16.82 17.97 21.87 26.44 31.24 28.60 37.33 26.42 21.15 15.70 12.04 9.89 10.44 16.04 38.84 18.65
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp. 78.58 36.88 25.72 22.20 23.91 16.54 15.89 14.61 15.53 17.08 13.09 22.40 19.37 24.04 32.46 24.25
ConocoPhillips 17.16 16.55 15.51 12.98 8.76 16.88 16.56 13.30 11.63 9.84 9.02 11.37 3.72 3.24 3.02 2.80
Exxon Mobil Corp. 13.95 13.37 12.07 10.70 11.56 12.16 12.91 13.95 15.33 26.98 59.06 110.19
Occidental Petroleum Corp. 2,087.46 69.01 50.58 32.45 44.63 49.75 21.36 13.76 28.72 5.99 11.43 29.88

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Working capital turnover = (Revenues, includes excise taxes on sales by certain of foreign operationsQ3 2024 + Revenues, includes excise taxes on sales by certain of foreign operationsQ2 2024 + Revenues, includes excise taxes on sales by certain of foreign operationsQ1 2024 + Revenues, includes excise taxes on sales by certain of foreign operationsQ4 2023) ÷ Working capital
= (32,876 + 34,490 + 31,759 + 35,414) ÷ 8,678 = 15.50

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Valero Energy Corp. working capital turnover ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Average Inventory Processing Period

Valero Energy Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Inventory turnover 18.23 16.32 16.36 17.39 18.02 20.28 20.76 23.64 23.61 20.24 17.64 17.69 15.05 13.32 10.66 10.87 13.94 15.61 28.30 14.76
Short-term Activity Ratio (no. days)
Average inventory processing period1 20 22 22 21 20 18 18 15 15 18 21 21 24 27 34 34 26 23 13 25
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chevron Corp. 18 19 19 16 17 16 15 13 14 14 13 15 17 20 21 22
ConocoPhillips 10 9 10 9 8 7 6 6 6 7 8 10 11 14 18 19
Exxon Mobil Corp. 26 26 26 27 26 24 22 22 23 24 26 25 30 33 37 39
Occidental Petroleum Corp. 31 38 29 26 25 23 24 21 19 17 18 26 29 34 48 39

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 18.23 = 20

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Payables Payment Period

Valero Energy Corp., average payables payment period calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 11.16 8.99 10.39 10.49 10.15 13.04 14.75 12.54 12.04 8.69 8.31 8.87 9.54 8.00 6.88 10.79 14.26 18.19 17.61 10.15
Short-term Activity Ratio (no. days)
Average payables payment period1 33 41 35 35 36 28 25 29 30 42 44 41 38 46 53 34 26 20 21 36
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chevron Corp. 38 39 40 38 39 32 28 29 35 44 42 39 42 46 49 42
ConocoPhillips 34 33 34 33 31 25 25 28 30 33 33 40 41 45 61 52
Occidental Petroleum Corp. 53 58 52 47 49 41 36 40 37 56 59 55 61 66 76 61

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 11.16 = 33

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Valero Energy Corp. number of days of payables outstanding increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.