Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | Valero Energy Corp. EBITDA increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Enterprise Value to EBITDA Ratio, Current
Selected Financial Data (US$ in millions) | |
Enterprise value (EV) | 52,192) |
Earnings before interest, tax, depreciation and amortization (EBITDA) | 15,061) |
Valuation Ratio | |
EV/EBITDA | 3.47 |
Benchmarks | |
EV/EBITDA, Competitors1 | |
Chevron Corp. | 6.37 |
ConocoPhillips | 5.65 |
Exxon Mobil Corp. | 7.40 |
Marathon Petroleum Corp. | 3.94 |
Occidental Petroleum Corp. | 5.14 |
EV/EBITDA, Sector | |
Oil, Gas & Consumable Fuels | 6.12 |
EV/EBITDA, Industry | |
Energy | 6.23 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Enterprise value (EV)1 | 54,752) | 57,832) | 46,270) | 43,178) | 37,180) | |
Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 15,061) | 18,342) | 4,551) | 904) | 6,195) | |
Valuation Ratio | ||||||
EV/EBITDA3 | 3.64 | 3.15 | 10.17 | 47.76 | 6.00 | |
Benchmarks | ||||||
EV/EBITDA, Competitors4 | ||||||
Chevron Corp. | 6.34 | 4.74 | 7.18 | 18.57 | 6.39 | |
ConocoPhillips | 5.64 | 3.82 | 6.34 | 23.12 | 4.13 | |
Exxon Mobil Corp. | 5.81 | 4.54 | 7.07 | 16.97 | 6.91 | |
Marathon Petroleum Corp. | 4.50 | 3.11 | 8.48 | — | 7.23 | |
Occidental Petroleum Corp. | 5.41 | 3.70 | 5.30 | — | 10.32 | |
EV/EBITDA, Sector | ||||||
Oil, Gas & Consumable Fuels | 5.60 | 4.20 | 6.99 | 40.24 | 6.54 | |
EV/EBITDA, Industry | ||||||
Energy | 5.78 | 4.41 | 7.21 | 71.70 | 7.51 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 54,752 ÷ 15,061 = 3.64
4 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
EV/EBITDA | Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. | Valero Energy Corp. EV/EBITDA ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |