Valero Energy (VLO)
Market Price (2/20/2026): $199.24 | Market Cap: $61.6 BilSector: Energy | Industry: Oil & Gas Refining & Marketing
Valero Energy (VLO)
Market Price (2/20/2026): $199.24Market Cap: $61.6 BilSector: EnergyIndustry: Oil & Gas Refining & Marketing
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldDividend Yield is 2.3%, FCF Yield is 6.4% | Trading close to highsDist 52W High is -2.3%, Dist 3Y High is -2.3% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 13x, P/EPrice/Earnings or Price/(Net Income) is 41x |
| Attractive cash flow generationCFO LTM is 4.8 Bil, FCF LTM is 4.0 Bil | Weak multi-year price returns3Y Excs Rtn is -9.8% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -2.2% |
| Low stock price volatilityVol 12M is 38% | Key risksVLO key risks include [1] significant net losses driven by volatile refining margins and [2] escalating compliance costs that have forced asset shutdowns. | |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, Hydrogen Economy, and Circular Economy & Recycling. Themes include Renewable Fuel Production, Show more. |
| Attractive yieldDividend Yield is 2.3%, FCF Yield is 6.4% |
| Attractive cash flow generationCFO LTM is 4.8 Bil, FCF LTM is 4.0 Bil |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, Hydrogen Economy, and Circular Economy & Recycling. Themes include Renewable Fuel Production, Show more. |
| Trading close to highsDist 52W High is -2.3%, Dist 3Y High is -2.3% |
| Weak multi-year price returns3Y Excs Rtn is -9.8% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 13x, P/EPrice/Earnings or Price/(Net Income) is 41x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -2.2% |
| Key risksVLO key risks include [1] significant net losses driven by volatile refining margins and [2] escalating compliance costs that have forced asset shutdowns. |
Qualitative Assessment
AI Analysis | Feedback
1. Valero Energy (VLO) significantly surpassed analyst expectations in its Fourth Quarter 2025 earnings report. The company reported adjusted earnings per share (EPS) of $3.82, considerably higher than the consensus estimate of $3.27. Net income for the quarter reached $1.1 billion, or $3.73 per share, a substantial increase from $281 million, or $0.88 per share, in the fourth quarter of 2024. This strong financial performance acted as a primary catalyst for the stock's upward movement.
2. The company demonstrated robust operational strength and high refining throughput during the fourth quarter of 2025. Valero's management highlighted record throughput and a strong refining operating income of $1.7 billion, achieved with approximately 98% throughput utilization. This operational excellence underscored the company's efficiency and ability to maximize production, contributing positively to investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The 19.0% change in VLO stock from 10/31/2025 to 2/19/2026 was primarily driven by a 19.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 167.47 | 199.24 | 19.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 123,071 | 123,071 | 0.0% |
| Net Income Margin (%) | 1.2% | 1.2% | 0.0% |
| P/E Multiple | 34.6 | 41.2 | 19.0% |
| Shares Outstanding (Mil) | 309 | 309 | 0.0% |
| Cumulative Contribution | 19.0% |
Market Drivers
10/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| VLO | 19.0% | |
| Market (SPY) | 0.4% | 17.7% |
| Sector (XLE) | 25.2% | 70.6% |
Fundamental Drivers
The 46.9% change in VLO stock from 7/31/2025 to 2/19/2026 was primarily driven by a 96.8% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 135.62 | 199.24 | 46.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 123,779 | 123,071 | -0.6% |
| Net Income Margin (%) | 0.6% | 1.2% | 96.8% |
| P/E Multiple | 55.4 | 41.2 | -25.6% |
| Shares Outstanding (Mil) | 312 | 309 | 1.0% |
| Cumulative Contribution | 46.9% |
Market Drivers
7/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| VLO | 46.9% | |
| Market (SPY) | 8.6% | 21.5% |
| Sector (XLE) | 27.6% | 66.8% |
Fundamental Drivers
The 54.2% change in VLO stock from 1/31/2025 to 2/19/2026 was primarily driven by a 269.9% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 129.20 | 199.24 | 54.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 134,539 | 123,071 | -8.5% |
| Net Income Margin (%) | 2.7% | 1.2% | -55.7% |
| P/E Multiple | 11.1 | 41.2 | 269.9% |
| Shares Outstanding (Mil) | 318 | 309 | 2.9% |
| Cumulative Contribution | 54.2% |
Market Drivers
1/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| VLO | 54.2% | |
| Market (SPY) | 14.7% | 50.3% |
| Sector (XLE) | 29.0% | 76.2% |
Fundamental Drivers
The 57.0% change in VLO stock from 1/31/2023 to 2/19/2026 was primarily driven by a 684.0% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 126.92 | 199.24 | 57.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 170,540 | 123,071 | -27.8% |
| Net Income Margin (%) | 5.5% | 1.2% | -78.0% |
| P/E Multiple | 5.3 | 41.2 | 684.0% |
| Shares Outstanding (Mil) | 390 | 309 | 26.2% |
| Cumulative Contribution | 57.0% |
Market Drivers
1/31/2023 to 2/19/2026| Return | Correlation | |
|---|---|---|
| VLO | 57.0% | |
| Market (SPY) | 74.7% | 36.8% |
| Sector (XLE) | 34.7% | 72.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VLO Return | 40% | 75% | 6% | -3% | 37% | 23% | 326% |
| Peers Return | 51% | 100% | 11% | -8% | 14% | 23% | 331% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| VLO Win Rate | 58% | 75% | 58% | 42% | 67% | 100% | |
| Peers Win Rate | 63% | 72% | 50% | 47% | 70% | 90% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VLO Max Drawdown | -1% | 0% | -17% | -6% | -14% | 0% | |
| Peers Max Drawdown | -3% | 0% | -14% | -15% | -18% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MPC, PSX, XOM, CVX, PBF. See VLO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/19/2026 (YTD)
How Low Can It Go
| Event | VLO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -32.5% | -25.4% |
| % Gain to Breakeven | 48.2% | 34.1% |
| Time to Breakeven | 122 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -66.3% | -33.9% |
| % Gain to Breakeven | 197.0% | 51.3% |
| Time to Breakeven | 732 days | 148 days |
| 2018 Correction | ||
| % Loss | -44.6% | -19.8% |
| % Gain to Breakeven | 80.5% | 24.7% |
| Time to Breakeven | 1,227 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -81.9% | -56.8% |
| % Gain to Breakeven | 453.1% | 131.3% |
| Time to Breakeven | 3,247 days | 1,480 days |
Compare to MPC, PSX, XOM, CVX, PBF
In The Past
Valero Energy's stock fell -32.5% during the 2022 Inflation Shock from a high on 6/7/2022. A -32.5% loss requires a 48.2% gain to breakeven.
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About Valero Energy (VLO)
AI Analysis | Feedback
Here are 1-3 brief analogies for Valero Energy (VLO):
Archer-Daniels-Midland (ADM) for crude oil, as Valero is a major processor of raw crude into refined fuels like gasoline and diesel, similar to how ADM processes agricultural commodities into various products.
A 'Ford' or 'General Motors' of transportation fuels, as Valero is a massive manufacturer taking crude oil and turning it into widely used products like gasoline, diesel, and jet fuel, much like auto manufacturers produce vehicles from raw materials.
AI Analysis | Feedback
- Gasoline: A primary refined petroleum product used as fuel for various types of internal combustion engine vehicles.
- Diesel Fuel: A refined petroleum distillate fuel used in diesel engines for transportation, industrial, and power generation purposes.
- Jet Fuel: A specialized type of aviation turbine fuel used to power jet aircraft.
- Asphalt: A sticky, black, and highly viscous liquid or semi-solid form of petroleum primarily used in road construction and roofing.
- Renewable Fuels (Ethanol & Renewable Diesel): Valero produces ethanol and renewable diesel, which are cleaner-burning alternatives to traditional fossil fuels used in transportation.
- Petrochemicals: Basic chemical building blocks derived from petroleum, such as propylene, used in the manufacturing of plastics and other industrial products.
AI Analysis | Feedback
Valero Energy (VLO) primarily sells its refined petroleum products and renewable fuels to other companies rather than directly to individual consumers.
According to Valero's public filings, its customer base is highly diversified, and no single customer accounts for 10% or more of its total revenues. Therefore, Valero does not publicly disclose the specific names of "major customers" with their stock symbols in the way companies with concentrated customer bases might. Instead, Valero serves a broad array of wholesale buyers across several categories:
- Wholesale Distributors and Marketers: These companies purchase gasoline, diesel, jet fuel, and other refined products in bulk from Valero. They then distribute these products through their own networks, which include independently owned and operated retail fueling stations (many of which are Valero-branded), truck stops, commercial fleets, agricultural operations, and various industrial customers. Examples of such distributors range from large regional fuel wholesalers to convenience store chains with their own fuel supply operations.
- Airlines: Valero is a significant supplier of jet fuel to major commercial airlines for their domestic and international flight operations. While specific airlines are not named, this represents a substantial portion of their sales in the jet fuel market.
- Industrial and Commercial End-Users: This category includes large industrial facilities, utility companies, marine shipping companies, railroads, and public transportation authorities. These entities directly purchase various fuels, such as diesel, fuel oil, and bunker fuel, for their operational requirements in significant volumes.
- Other Energy Companies and Traders: Valero also sells intermediate products (like petrochemical feedstocks) and finished petroleum products to other refiners, chemical companies, and commodity trading houses that further process, blend, or distribute these products globally.
AI Analysis | Feedback
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AI Analysis | Feedback
```htmlLane Riggs, Chief Executive Officer and President, Chairman of the Board
Lane Riggs became Chief Executive Officer and President of Valero Energy Corporation in July 2023, and was elected Chairman of the Board effective December 31, 2024. He has been with the company since 1989, starting as a Process Engineer at the McKee Refinery. Throughout his tenure, he has held numerous leadership positions, including General Manager-Process Engineering, Director-Supply and Optimization, Vice President-Refinery Planning and Economics, Senior Vice President-Crude, Feedstock Supply and Trading, Senior Vice President-Refining Operations, and Executive Vice President-Refining Operations and Engineering.
Jason Fraser, Executive Vice President and Chief Financial Officer
Jason Fraser currently serves as Executive Vice President and Chief Financial Officer, a role he assumed effective July 15, 2020. He is slated to retire from this position on December 31, 2025, with Homer Bhullar succeeding him. Fraser joined Valero in 1999 and has extensive leadership experience within the company. His previous roles include General Counsel, Senior Vice President overseeing public policy, strategic planning, governmental affairs, investor relations, and external communications. He also served as President of European Commercial Operations and Vice President of Specialty Products Marketing. Prior to attending the University of Texas at Austin for his Bachelor of Business Administration, and Harvard Law School for his Juris Doctor, Fraser served in the U.S. Army from 1986 to 1990.
Gary Simmons, Executive Vice President and Chief Operating Officer
Gary Simmons was named Executive Vice President and Chief Operating Officer on July 20, 2023. In this capacity, he oversees the company's refining operations, crude supply and products trading, wholesale marketing, transportation, and international commercial operations groups. Simmons joined Valero in 1987, beginning his career as a Process Engineer at the Ardmore refinery. He has held various leadership positions, including Executive Director-Regional Development, Vice President and General Manager of the Ardmore and St. Charles refineries, Vice President-Planning and Economics, Senior Vice President-Supply, International Operations and Systems Optimization, and Executive Vice President and Chief Commercial Officer.
Rich Walsh, Executive Vice President & General Counsel
Rich Walsh serves as Executive Vice President & General Counsel. He was promoted to General Counsel effective July 15, 2020. Walsh has served in many different leadership roles within Valero's legal department and previously held the position of Vice President and Deputy General Counsel. He is responsible for Valero's litigation, regulatory, and employment law departments, as well as the company's ad valorem tax and environmental, health, and safety groups. Walsh earned his Bachelor of Arts and Juris Doctor degrees from the University of Oklahoma.
Eric Fisher, Senior Vice President Product Supply, Trading and Wholesale
Eric Fisher is the Senior Vice President Product Supply, Trading and Wholesale. He began his career with Valero in 1997 in the Corporate Law Department. His roles have included Vice President of Investor Relations, Vice President-Investor and Corporate Communications, President-Europe, and Senior Vice President-Wholesale Marketing and International Commercial Operations. Before joining Valero, Fisher worked for the law firm of Fulbright & Jaworski and as an operations accountant for Exxon Corp. He holds an undergraduate degree in economics from Texas A&M University and a Juris Doctor from the University of Texas School of Law.
AI Analysis | Feedback
The key risks to Valero Energy (VLO) are primarily driven by the inherent volatility of the refining industry, evolving environmental regulations, and global geopolitical dynamics.
- Refining Margin Volatility and Market Risks: Valero's profitability is highly susceptible to fluctuations in refining margins, often referred to as "crack spreads," which represent the difference between crude oil costs and the prices of refined products. These margins are influenced by crude oil price volatility, supply and demand imbalances for petroleum products, and global overcapacity in the refining sector. The company has experienced significant financial performance volatility, including net losses, directly attributable to these market pressures.
- Regulatory and Environmental Pressures: The energy industry faces increasingly stringent and complex environmental laws and regulations concerning emissions, waste management, and fuel composition. Compliance with these regulations can lead to substantial increases in operational costs, require significant capital investments, and may result in penalties or the closure of refining assets, as exemplified by Valero's decision to shut down its Benicia refinery in California due to prohibitive costs and regulatory pressures. The broader shift towards alternative energy and decarbonization efforts also poses long-term challenges to the demand for traditional petroleum products.
- Geopolitical Tensions and Supply Chain Disruptions: Global geopolitical conflicts and tensions introduce significant risks by disrupting supply chains and impacting commodity prices for crude oil and refined products. Events such as the Russia-Ukraine conflict, turmoil in the Middle East, and sanctions affecting oil-producing nations like Venezuela can lead to interruptions in feedstock supply, increased transportation costs, higher-cost alternative crude procurement, and reduced utilization rates for specialized refining infrastructure, all of which can negatively affect Valero's profitability.
AI Analysis | Feedback
The accelerating global transition to electric vehicles (EVs) represents a clear emerging threat to Valero Energy. As EV adoption rapidly increases, driven by technological advancements, decreasing battery costs, government incentives, and environmental regulations, the long-term demand for gasoline and diesel, Valero's primary refined products, is directly threatened. This shift parallels historical disruptions where new technologies fundamentally altered consumer behavior and product reliance, such as streaming services displacing physical media or smartphones disrupting traditional mobile phones.
AI Analysis | Feedback
Valero Energy (VLO) operates in three main segments: refining, renewable diesel, and ethanol, which produce a variety of transportation fuels and other related products. Here are the addressable market sizes for Valero's main products and services:Refining Segment:
- For the U.S. petroleum refining market, the size was USD 793.3 billion in 2024 and is projected to reach USD 1,168.3 billion by 2032.
- The global oil refining market was valued at USD 1.79 trillion in 2024 and is poised to grow to USD 2.68 trillion by 2032.
Renewable Diesel Segment:
- The U.S. renewable diesel market was valued at USD 11.55 billion in 2024 and is expected to reach USD 22.28 billion by 2034.
- Globally, the renewable diesel market was valued at USD 23 billion in 2024 and is estimated to grow at a CAGR of 8.1% from 2025 to 2034.
Ethanol Segment:
- The U.S. ethanol market is estimated to be valued at USD 32.76 billion in 2025 and is expected to reach USD 60.66 billion by 2032.
- The global ethanol market size was USD 109.11 billion in 2024 and is expected to reach USD 182.88 billion by 2034.
Key Refined Products:
- Gasoline: The U.S. gasoline and petroleum wholesaling market was valued at USD 664.1 billion in 2024 and USD 664.7 billion in 2025. Separately, the global gasoline market reached USD 129.5 billion in 2024 and is projected to reach USD 145.7 billion by 2033, with North America being the largest market.
- Diesel Fuel (excluding renewable diesel): The global diesel fuel market size was estimated at USD 241.41 billion in 2024 and is projected to reach USD 306.02 billion by 2030. The U.S. diesel fuel market size is estimated to reach USD 60 billion by 2031.
- Jet Fuel: The global jet fuel market size was valued at USD 297.87 billion in 2024 and is projected to reach USD 492.23 billion by 2035. Another report estimates the global aviation fuel market size at USD 373.92 billion in 2025. The U.S. jet fuel demand was approximately 22 million barrels per day in 2024, with North America being the largest jet fuel market globally.
For other products such as asphalt, petrochemicals, and lubricants, specific addressable market sizes for Valero's operational regions were not readily available in the search results. Therefore, for these products, the market size is null.
AI Analysis | Feedback
Valero Energy (VLO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives, primarily centered on its expanding renewable fuels business and optimizing its refining operations. Here are 3-5 expected drivers of future revenue growth for Valero Energy:- Growth and Diversification in Renewable Fuels Production: Valero is significantly expanding its capacity for renewable diesel and transitioning into sustainable aviation fuel (SAF). The Diamond Green Diesel (DGD) joint venture has seen substantial growth, with total production capacity for renewable diesel projected to reach approximately 1.2 billion gallons per year, including the new 470 million gallons per year plant at Port Arthur, Texas, which was expected to be operational in the first half of 2023. Furthermore, Valero completed a large-scale SAF project at its DGD Port Arthur plant in the fourth quarter of 2024, enabling it to upgrade up to 50% of its current renewable diesel production capacity to SAF. This expansion into SAF is expected to be a significant growth area, bolstered by increasing demand and regulatory support. The low-carbon fuel market is projected to expand by 25% annually through 2030, presenting a substantial opportunity for Valero.
- Enhanced Refining Operations through Optimization and Higher-Value Product Yields: Valero is investing in projects aimed at improving the efficiency and product mix of its traditional refining business. For example, an FCC Unit optimization project at the St. Charles refinery, slated for 2026, is designed to increase the yield of high-value products like gasoline and diesel while reducing lower-margin residues. These operational enhancements are anticipated to boost refining margins and overall profitability.
- Expanding Ethanol Production: Valero's ethanol segment continues to be a contributor to revenue. The company achieved a record for ethanol production in the fourth quarter of 2024, driven by the expansion of its plant in Charles City, Iowa, and ongoing process optimization across its facilities. The ethanol segment has consistently reported profitable operations.
- Favorable Market Dynamics for Low-Carbon Fuels: The increasing global emphasis on decarbonization, reflected in low-carbon mandates in North America and Europe, is expected to continue driving strong demand and premium pricing for renewable diesel. The consumption of renewable fuel is projected to increase, with the EIA forecasting a 9.32% rise in 2026 compared to 2024. Additionally, the Inflation Reduction Act (IRA) provides crucial tailwinds for Valero's renewable fuel ambitions, including tax credits for SAF.
AI Analysis | Feedback
Share Repurchases
- Valero completed share repurchases totaling over $4.56 billion as of September 30, 2025.
- In the third quarter of 2025, Valero purchased approximately 5.7 million shares of common stock for $931 million.
- As of September 2025, Valero has two repurchase programs in place with an authorization to buy up to $2.811 billion in common shares, representing approximately 5.29% of its common shares.
Outbound Investments
- Valero is a joint venture member in Diamond Green Diesel Holdings LLC (DGD), a producer of low-carbon fuels, including renewable diesel and sustainable aviation fuel.
- The company has invested more than $3 billion in its renewable fuels businesses since 2009, with $1.4 billion allocated to renewable diesel and $1.7 billion to ethanol.
- Valero is collaborating with BlackRock and Navigator to develop an industrial-scale carbon capture and storage system in the U.S. Midwest, aiming to reduce the carbon intensity of ethanol produced at eight of Valero's ethanol plants.
Capital Expenditures
- Valero's capital investments for 2025 are estimated at $2 billion, with $1.6 billion designated for sustaining the business and the remaining balance for growth initiatives.
- Capital expenditures have focused on projects like the St. Charles FCC Unit optimization, a $230 million project expected to begin operations in the second half of 2026 to enhance high-value product yields.
- From fiscal years ending December 2020 to 2024, Valero's capital expenditures averaged $1.39 billion, peaking at $1.788 billion in 2020 and reaching a five-year low of $907 million in 2024.
Latest Trefis Analyses
Trade Ideas
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|---|---|---|---|---|---|---|---|
| 12262025 | TPL | Texas Pacific Land | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 50.3% | 50.3% | -2.1% |
| 11212025 | WHD | Cactus | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 38.7% | 38.7% | 0.0% |
| 10172025 | OVV | Ovintiv | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 31.4% | 31.4% | 0.0% |
| 10102025 | COP | ConocoPhillips | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 28.3% | 28.3% | -2.3% |
| 10102025 | HAL | Halliburton | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 55.6% | 55.6% | -0.7% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 170.09 |
| Mkt Cap | 62.2 |
| Rev LTM | 132,608 |
| Op Inc LTM | 3,910 |
| FCF LTM | 4,118 |
| FCF 3Y Avg | 7,643 |
| CFO LTM | 6,115 |
| CFO 3Y Avg | 9,354 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -7.3% |
| Rev Chg 3Y Avg | -7.4% |
| Rev Chg Q | -2.5% |
| QoQ Delta Rev Chg LTM | -0.6% |
| Op Mgn LTM | 3.0% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 4.7% |
| CFO/Rev 3Y Avg | 6.6% |
| FCF/Rev LTM | 3.2% |
| FCF/Rev 3Y Avg | 5.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 62.2 |
| P/S | 0.5 |
| P/EBIT | 15.4 |
| P/E | 24.8 |
| P/CFO | 11.9 |
| Total Yield | 6.1% |
| Dividend Yield | 2.9% |
| FCF Yield 3Y Avg | 7.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.6% |
| 3M Rtn | 17.5% |
| 6M Rtn | 33.1% |
| 12M Rtn | 34.8% |
| 3Y Rtn | 59.3% |
| 1M Excs Rtn | 11.6% |
| 3M Excs Rtn | 10.6% |
| 6M Excs Rtn | 28.5% |
| 12M Excs Rtn | 22.4% |
| 3Y Excs Rtn | -16.8% |
Comparison Analyses
Price Behavior
| Market Price | $199.24 | |
| Market Cap ($ Bil) | 61.6 | |
| First Trading Date | 01/04/1982 | |
| Distance from 52W High | -2.3% | |
| 50 Days | 200 Days | |
| DMA Price | $180.45 | $156.73 |
| DMA Trend | up | up |
| Distance from DMA | 10.4% | 27.1% |
| 3M | 1YR | |
| Volatility | 34.9% | 38.0% |
| Downside Capture | -93.67 | 29.04 |
| Upside Capture | 21.36 | 66.56 |
| Correlation (SPY) | 21.2% | 51.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.12 | 0.22 | 0.41 | 0.49 | 1.02 | 0.81 |
| Up Beta | 2.98 | 2.92 | 1.82 | 1.72 | 1.12 | 0.95 |
| Down Beta | 0.18 | 0.43 | 1.09 | 0.87 | 1.55 | 1.13 |
| Up Capture | 14% | -38% | -3% | 37% | 54% | 25% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 17 | 29 | 67 | 133 | 389 |
| Down Capture | -295% | -59% | -57% | -70% | 48% | 79% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 24 | 32 | 58 | 118 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLO | |
|---|---|---|---|---|
| VLO | 48.7% | 38.0% | 1.12 | - |
| Sector ETF (XLE) | 24.0% | 25.2% | 0.81 | 75.9% |
| Equity (SPY) | 13.0% | 19.4% | 0.51 | 51.7% |
| Gold (GLD) | 71.2% | 25.5% | 2.08 | 12.9% |
| Commodities (DBC) | 7.3% | 16.9% | 0.25 | 52.0% |
| Real Estate (VNQ) | 6.4% | 16.7% | 0.20 | 38.6% |
| Bitcoin (BTCUSD) | -30.2% | 44.9% | -0.66 | 17.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLO | |
|---|---|---|---|---|
| VLO | 29.7% | 36.8% | 0.80 | - |
| Sector ETF (XLE) | 24.6% | 26.4% | 0.84 | 78.2% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 35.1% |
| Gold (GLD) | 22.0% | 17.1% | 1.05 | 11.4% |
| Commodities (DBC) | 11.0% | 19.0% | 0.47 | 51.5% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 23.6% |
| Bitcoin (BTCUSD) | 6.9% | 57.1% | 0.34 | 12.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLO | |
|---|---|---|---|---|
| VLO | 18.4% | 40.1% | 0.55 | - |
| Sector ETF (XLE) | 11.8% | 29.6% | 0.43 | 76.9% |
| Equity (SPY) | 15.8% | 17.9% | 0.76 | 49.4% |
| Gold (GLD) | 15.0% | 15.6% | 0.80 | 1.1% |
| Commodities (DBC) | 8.7% | 17.6% | 0.41 | 43.8% |
| Real Estate (VNQ) | 6.8% | 20.7% | 0.29 | 39.7% |
| Bitcoin (BTCUSD) | 67.7% | 66.7% | 1.07 | 11.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/29/2026 | -0.8% | ||
| 10/23/2025 | 7.0% | 5.4% | 6.2% |
| 7/24/2025 | -4.9% | -5.5% | -4.1% |
| 4/16/2025 | -0.4% | 6.5% | 25.9% |
| 1/30/2025 | -2.1% | 1.6% | -5.5% |
| 10/24/2024 | -1.2% | -3.1% | 7.0% |
| 7/25/2024 | 5.5% | 8.7% | -3.0% |
| 4/25/2024 | 0.1% | -6.8% | -2.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 13 |
| # Negative | 13 | 13 | 11 |
| Median Positive | 2.3% | 5.4% | 10.6% |
| Median Negative | -1.7% | -3.3% | -4.1% |
| Max Positive | 7.0% | 15.6% | 33.1% |
| Max Negative | -5.6% | -12.0% | -22.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fraser, Jason W | EVP & CFO | Direct | Sell | 11242025 | 174.02 | 9,933 | 1,728,540 | 23,352,775 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.