Valero Energy balance sheet

At the end of fiscal 2025, Valero Energy had total assets of $57.99bn and shareholders' equity of $23.73bn. It held $4.69bn in cash against $10.62bn of debt: net debt of $5.93bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Valero Energy: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	4.8	5.9	3.0	2.6	3.3	4.1	4.9	5.4	4.7	4.7	9.8
Receivables	5.9	6.9	7.3	8.1	4.8	10.0	10.8	11.0	9.7	9.2	14.7
Inventory	5.7	6.4	6.5	7.0	6.0	6.3	6.8	7.6	7.8	7.6	7.6
Total current assets	16.8	19.3	17.7	19.0	15.8	21.2	24.1	26.2	23.7	23.2	33.6
Goodwill	—	0.0	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	—
Total assets	46.2	50.2	50.2	53.9	51.8	57.9	61.0	63.1	60.1	58.0	68.0
Accounts payable	6.4	8.3	8.6	10.2	6.1	12.5	12.7	12.6	12.1	10.1	13.8
Deferred revenue (current)	—	—	0.0	0.1	0.1	0.1	0.1	0.0	0.1	0.1	—
Total current liabilities	8.3	11.1	10.7	13.2	9.3	16.9	17.5	16.8	15.5	14.1	19.5
Short-term debt	0.1	0.1	0.2	0.5	0.7	1.3	1.1	1.4	0.7	0.9	1.0
Long-term debt	7.9	8.3	8.5	8.9	13.0	12.0	9.2	9.2	8.1	8.3	10.0
Total debt	8.0	8.9	9.1	9.7	14.7	13.9	11.6	11.5	10.5	10.6	11.0
Shareholders' equity	20.0	22.0	21.7	21.8	18.8	18.4	23.6	26.3	24.5	23.7	28.0
Net debt (negative = net cash)	3.2	3.0	6.1	7.1	11.4	9.7	6.8	6.1	5.8	5.9	1.2

US$ billions unless shown otherwise. Fiscal quarters.

Valero Energy: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Receivables	9.7	11.2	11.1	10.3	9.2	13.4	13.9	14.7
Inventory	7.8	7.1	7.5	7.4	7.6	7.6	7.6	7.6
Total current assets	23.7	23.6	23.8	23.5	23.2	27.8	30.7	33.6
Goodwill	0.3	—	—	—	0.3	—	—	—
Total assets	60.1	59.2	59.4	58.6	58.0	62.1	64.7	68.0
Accounts payable	12.1	12.0	11.5	10.7	10.1	13.4	14.4	13.8
Deferred revenue (current)	0.1	—	—	—	0.1	—	—	—
Total current liabilities	15.5	15.1	14.7	14.7	14.1	17.7	18.7	19.5
Short-term debt	0.7	0.5	0.4	0.9	0.9	1.0	0.9	1.0
Long-term debt	8.1	10.3	10.3	9.7	8.3	10.5	10.4	10.0
Total debt	8.8	10.9	10.6	10.6	9.2	11.5	11.3	11.0
Shareholders' equity	24.5	23.5	24.1	23.8	23.7	23.9	25.0	28.0

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: MPC vs VLO PSX vs VLO VLO vs WKC

More: Oil & Gas Refining & Marketing stocks compared, Energy sector, rankings of US companies

Figures from Valero Energy's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Valero Energy.