Valero's third-quarter adjusted earnings reached $6.8 billion from $1.1 billion the year before, again topping expectations, as global supply disruptions continue to underpin very strong refining margins. It returned 52% of adjusted operating cash flow to shareholders as net debt/capital fell to 4%.
Valero enjoys a cost advantage thanks to its proximity to cost-advantaged light crude oil, ability to process discount heavy sour crude, and low operating cost from lower domestic natural gas prices.
Growing EV adoption will destroy gasoline demand and leave Valero's refineries uneconomic, given the high portion of gasoline production.
|
Metric
|
VLO
|
DINO
|
PSX
|
|---|---|---|---|
Price/Earnings (Normalized) | 8.69 | 11.84 | 18.03 |
Price/Book Value | 3.99 | 1.97 | 3.40 |
Price/Sales | 0.74 | 0.67 | 0.71 |
Price/Cash Flow | 10.84 | 8.49 | 12.11 |
|
Metric
|
VLO
|
DINO
|
PSX
|
|---|---|---|---|
Quick Ratio | 1.16 | 1.07 | 0.86 |
Current Ratio | 1.64 | 1.97 | 1.32 |
Interest Coverage | 18.53 | 14.90 | 8.26 |
|
Metric
|
VLO
|
DINO
|
PSX
|
|---|---|---|---|
Return on Assets (Normalized) | — | 10.06% | 7.68% |
Return on Equity (Normalized) | — | 18.47% | 20.95% |
Return on Invested Capital (Normalized) | — | 14.49% | 13.25% |
|
1-Day Chart
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Name
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Price
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Morningstar Rating for Stocks
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United States