VLO Valero Energy Corporation Common Stock
NYSE · Energy · View on SEC EDGAR ↗ close Oct 6, 2026 10-K/10-Q Jul 30, 2026VLO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| May 2, 2013 | 547-for-500 | Forward |
| Dec. 16, 2005 | 2-for-1 | Forward |
| Oct. 8, 2004 | 2-for-1 | Forward |
About Valero Energy Corporation Common Stock Company overview from Wikipedia
Valero Energy Corporation is an American-based fuels producer mostly involved in manufacturing and marketing transportation fuels and other related products. It is headquartered in San Antonio, Texas, United States. Throughout the United States, Canada, and the United Kingdom, the company owns and operates 14 refineries with a combined throughput capacity of approximately 3.2 million barrels per day, two renewable diesel plants that produce approximately 1.2 billion gallons per year, and 12 ethanol plants with a combined production capacity of 1.6 billion gallons as its subsidiaries.
According to a number of estimates, Valero has become a major producer of corn ethanol and renewable diesel.
History
Valero was established on January 1, 1980, as a spinoff of Coastal States Gas Corporation's Subsidiary, LoVaca Gathering Company. The company took over the natural gas operations of the LoVaca Gathering Company, later renamed the Valero Transmission Company. In the 1970s, the Coastal company faced litigation due to its inability to honor contracts to supply utilities around Texas due to a natural gas shortage. After six years, Coastal agreed to a $1.6 billion settlement, which included the establishment of Valero as a new company.
The name Valero comes from Mission San Antonio de Valero, the original name of the mission in the Alamo. The company acquired Corpus Christi Marine Services Company, a small barge company in Corpus Christi, Texas, in April 1981 when it purchased a stake in Saber Energy Inc. of Houston. In May 1985, Valero Refining and Marketing Company was born from Valero's subsidiary, Saber Energy Inc.
In 1997, Valero merged its natural gas service business with Pacific Gas and Electric Company and spun off its refining assets to form Valero Energy Corporation. At the same time, the remaining divisions, which consisted of natural gas operations, merged with a wholly owned subsidiary of PG&E. In May of that year, Valero Energy acquired three refineries from Basis Petroleum. The following year, the company expanded its operations by purchasing the Paulsboro Refinery in New Jersey from Mobil, making it the second-largest independent refiner in the U.S.
In 2000, Valero purchased the Benicia, California, refinery and interest in 350 Exxon-branded service stations in California, mainly in the San Francisco Bay Area. The company also began retailing gasoline under the Valero brand. In June 2001, Valero acquired two asphalt plants on the West Coast.
In 2001, Valero completed its acquisition of Ultramar Diamond Shamrock. With this acquisition, the company also received ownership of Shamrock Logistics L.P., which was renamed Valero L.P. In 2006, Valero L.P. was spun off and renamed NuStar Energy. Starting in 2002, Valero has expanded its marketing to the East Coast, specifically the Northeast and Florida, using the Valero brand.
By 2003, Valero completed its acquisition of El Paso Corp's refinery, pipeline system and terminal assets in Corpus Christi and South Texas. On April 25, 2005, the company purchased Premcor, Inc., for $8 billion. In June 2005, Valero announced that it was beginning a two-year process of converting Diamond Shamrock stations to the Valero brand. And in 2008, the company bought 72 Albertsons gas stations.
In 2009, it was reported that Valero lost an average $1 million per day since the beginning of the year. In November of that year, the company was forced to lay off 500 employees, and subsequently began to permanently shut down its refinery in Delaware City, Delaware.
In 2009, Valero Energy Corporation entered the ethanol market by acquiring 7 ethanol plants in March, and another 3 ethanol plants, purchased in December, all located in the Midwest of the United States.
In 2011, Valero Energy Corporation entered into a joint venture with a subsidiary of Darling Ingredients Inc. to establish Diamond Green Diesel Holdings (DGD). This venture resulted in the construction of a renewable diesel plant adjacent to Valero's refinery in St. Charles, Louisiana.
On March 11, 2011, Valero announced that it had agreed to a major European purchase from Chevron Corporation, Chevron's Pembroke Refinery in Wales together with marketing and logistical assets throughout the United Kingdom and Ireland, which include 4 pipelines, 11 terminals, an aviation fuel business, about 1,000 retail outlets, inventory and other items.
In 2013, Valero spun off its retail operations into a new publicly traded company, CST Brands. Under long-term supply agreements, Valero continues to supply fuel to more than 7,000 retail locations, many of which use brand names owned by Valero. That same year, the company started renewable diesel production at the DGD joint venture plant next to Valero's St. Charles refinery in Louisiana.
A change to the logo, store canopy and facade was announced in April 2018. Known as "Vanguard", with various hues of blue, white, and yellow, Valero explained that applying the new design to all its stores would take several months to complete.
In 2021, DGD began expansion of the DGD St. Charles plant in 2019 and increased its renewable diesel capacity. In 2022, the second DGD plant, located next to Valero's refinery in Port Arthur, Texas, began its operations.
At the beginning of 2026 it was announced that Valero would idle its Benicia, California refinery, but would continue supplying Northern California with gasoline through imports and existing inventories.
On March 23, 2026 an explosion and fire occurred at the Valero Refinery in Port Arthur, Texas.
Operations
Valero's operations are managed through three main segments: refining, renewable diesel, and ethanol.
Refining
This segment includes the operations of Valero's 15 petroleum refineries. The segment also encompasses the marketing of refined petroleum products and the logistics assets supporting these operations.
Renewable diesel
Valero operates this segment through Diamond Green Diesel (DGD), which has two plants in the Gulf Coast region of the United States. These plants have a combined annual production capacity of about 1.2 billion gallons of renewable diesel and 50 million gallons of renewable naphtha.
Ethanol
Valero's ethanol segment includes 12 plants combined production capacity of around 4.1 million gallons per day or approximately 1.6 billion gallons annually.
Sustainable jet fuel
In January 2023, Valero and Darling Ingredients Inc. announced an investment decision on a Sustainable Aviation Fuel (“SAF”) project at the Diamond Green Diesel Port Arthur plant. Valero announced the project was completed in October, 2024, bringing online a capacity of 235 million gallons a year of sustainable jet fuel, or SAF. The fuel consists of 50% synthetic paraffinic kerosene and can be blended with 50% conventional jet fuel. It is calculated to reduce greenhouse gas emissions by 74% to 84% compared to standard jet fuels.
Southwest Airlines signed a two-year agreement with Valero in October 2024, to begin using the sustainable jet fuel at Chicago's Midway International Airport in a deal noted by Illinois Governor JB Pritzker, who enacted a SAF tax credit in 2023. JetBlue also started using Valero's SAF at John F. Kennedy International Airport in March 2024. It was the first long-term use of sustainable jet fuel in the Northeastern US.
Finances
For the fiscal year 2017, Valero Energy reported earnings of US$4.065 billion, with an annual revenue of US$93.980 billion, an increase of 24.2% over the previous fiscal cycle. Valero Energy's shares traded at over $67 per share, and its market capitalization was valued at over US$39.2 billion in November 2018. Valero is ranked No. 31 on the Fortune 500 rankings of the largest United States corporations by total revenue as of 2018.
For 2023, the company reported earnings of US$9.149 billion, with an annual revenue of US$144.766 billion. Valero Energy's shares traded at $130 per share, and its market capitalization was valued at over US$44 billion. Valero is ranked No. 40 on the Fortune 500 rankings of United States corporations by total revenue as of 2022.
The 2025 10K filing was released on Feb 25, 2026.
Environmental record
The Political Economy Research Institute ranks Valero 28th among U.S. corporations based on their airborne pollutant emissions. This ranking considers both the quantity (3.4 million pounds in 2005) and the toxicity of the emissions.
In 2010, Valero was reportedly the largest financial supporter of California Proposition 23, contributing over $4 million by August of that year. Proposition 23 aimed to delay the implementation of California's Global Warming Solutions Act of 2006 until the state achieved an unemployment rate of 5.5% or lower for a full year. Critics argued that because that had happened only three times over the last 40 years, the proposition would have had the practical effect of repealing the law.
Valero owns two oil refineries in California. The Benicia Refinery is located on the Carquinez Strait, though the facility was idled in 2026. The Wilmington Refinery, located 23 miles (37 km) south from downtown Los Angeles. The company's refineries in Wilmington (CA), Benicia (CA), and Port Arthur (TX) were noted for processing crude oil from the Amazon region of South America, raising environmental concerns regarding the protection of the Amazon rainforest. In 2015, the Wilmington and Benicia refineries processed approximately 13,000 and 7,200 barrels of Amazonian crude oil per day, respectively.
In 2022, non-profit environmental group San Francisco Baykeeper sued Valero and Amports, a shipping operator, alleging that the companies had been dumping petroleum coke (or "petcoke") from Valero's Benicia Refinery into the San Francisco Bay. The lawsuit was settled in October 2024 for $2.38 million, with the companies also agreeing to site cleanup and investment in equipment to reduce spills and dust.
In 2024, the Bay Area Air Quality Management District and California Air Resources Board fined Valero $82 million over air pollution violations following a 2019 inspection at Valero's Benicia Refinery, with the fine being the largest in the District's history.
In April 2025, Valero announced it would shut down the Benicia refinery, after recording $1.1 billion in "impairment" costs related to its California operations as the state made efforts to move away from fossil fuels.
EPA Compliance and mitigation
In 2020, the United States Environmental Protection Agency (EPA) announced a settlement with Valero and its subsidiaries regarding alleged Clean Air Act violations related to fuel quality standards and compliance requirements at the company's refineries and an import facilities. The related consent decree requires Valero to implement a company-wide Fuels Management System to help ensure its production complies with regulations. In 2023, an audit by Montrose Environmental Group concluded that Valero has taken substantial actions to address environmental and health concerns in underserved communities, aligning with the U.S. EPA's principles of environmental justice.
Carbon footprint
Valero Energy reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 27,500 Kt (-2,000 /-6.8% y-o-y).
Defense contracts
In the past years, Valero Energy Corp. has secured contracts worth several hundred millions of dollars from the United States Defense Logistics Agency Energy (DLA Energy) through the U.S. Defense Energy Support Center (DESC) to provide fuel for various defense needs.
Divestitures
During 2010, Valero sold its operations on the United States Atlantic coast.
In November 2009, Valero Energy closed its operations at Delaware City. Later, Valero Energy reached an agreement to sell the assets of its Delaware City Refining and Delaware Pipeline to a Petroplus Holdings subsidiary, PBF Energy Partners LP, for approximately $220 million in September 2010.
Shortly after the divestiture of Delaware City, the company sold its refinery at the Port of Paulsboro to PBF Holdings, a wholly owned subsidiary of PBF Energy, as well. The sale concluded Valero's refinery ownership on the East Coast.
Acquisitions
Through acquisitions in 2011, Valero entered the European market while strengthening its position in the United States, by reducing costs in supplying the Atlantic coast.
On August 1, 2011, Valero acquired the Pembroke Refinery from Chevron, as well as the marketing and logistics assets, for $730 million, excluding working capital, which was valued at approximately $1 billion. The Pembroke plant is one of the largest and most complex refineries in Western Europe with a total throughput capacity of 270,000 barrels (43,000 m3) per day and a Nelson complexity index rating of 11.8.
Valero also purchased ownership interest in four major pipelines and eleven fuel terminals, a 14,000-barrel (2,200 m3)-per-day aviation fuel business, and a network of more than 1,000 Texaco-branded wholesale sites. Valero has continued with the Texaco brand in these markets.
Retail
Valero retails gasoline branded as Valero, Shamrock, Diamond Shamrock, Beacon, and Total, the last under license from TotalEnergies. While this arm of the company was the most visible to the public, it was, according to CEO Bill Greehey, "a very small part of [Valero's] operations".
Valero attempted to shift its focus from being a discount gasoline brand to becoming a premium brand. As part of the shift, Valero began to rebrand its Ultramar, Beacon, Total, and Diamond Shamrock stations to the Valero brand. The Beacon and Shamrock brands are used by retailers as a low-cost alternative to the premium Valero brand. The Shamrock brand is based on the former Shamrock Oil and Gas Company, which merged with Diamond Alkali in 1967 to form Diamond Shamrock, thus declaring the trademark from official abandonment. The name Ultramar, while being eliminated in the United States, continued as Valero's brand name in Canada. Valero introduced its updated "Corner Store" retail concept on December 28, 2007, opening the company's first 5,500-square-foot (510 m2) prototype in western San Antonio. The Corner Store retail division, originally part of Diamond Shamrock, was absorbed into Valero's business portfolio in 2001. Not all Valero gas stations included a Corner Store - one Valero gas station in Euless, Texas east of Fort Worth was co-branded with a 7-Eleven convenience store.
Creation of CST Brands
On July 31, 2012, during the 2nd Quarter Earnings Conference Call, Valero announced intentions to separate the retail business from the remainder of the company. CFO Mike Ciskowski stated "We believe the separation of our retail business by way of a tax-efficient distribution to our shareholders will create operational flexibility within the business and unlock value for our shareholders." In 2013, Valero completed the spinoff of the retail operations as CST Brands. Valero no longer owns retail operations using the Diamond Shamrock, Shamrock, Beacon, Ultramar, or Total names, but Valero continues to supply fuel. Valero also supplies fuel in the United Kingdom and Ireland under the Texaco and Valero brand, and in October 2023 started test marketing of the Valero brand at 3 service stations close to its refinery in Wales, United Kingdom. In 2020, the Valero brand was introduced in Mexico and as of 2024 is the branded fuel supplier for 260 gas stations across the country.
Credit cards
Valero issues its own private label credit cards for its stations through its credit card-only subsidiary, DSRM National Bank. The initials stand for "Diamond Shamrock Refining & Marketing", the unit of Diamond Shamrock which created it before being purchased by Valero. The credit card operations are based in Amarillo, Texas, a city where Diamond Shamrock was once previously based.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VLO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 17.45Y avg ≈15.7 | ≈15.7 | 9.2 | Overvalued | |
| P/S | 2.35Y avg ≈0.6 | ≈0.6 | 0.5 | Overvalued | |
| P/B | 11.95Y avg ≈3.5 | ≈3.5 | 4.9 | Fair value | |
| Price / Cash Flow | 48.45Y avg ≈11.2 | ≈11.2 | 15.8 | Overvalued | |
| Price / Tangible Book | 12.15Y avg ≈3.6 | ≈3.6 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VLO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 7.2%5Y avg ≈4.9% | ≈4.9% | 10.9% | Top tier | |
| EBITDA Margin (TTM) | 9.5%5Y avg ≈6.9% | ≈6.9% | 10.6% | In line | |
| Pretax Margin (TTM) | 7.1%5Y avg ≈4.7% | ≈4.7% | 10.9% | Top tier | |
| Net Profit Margin (TTM) | 5.2%5Y avg ≈3.5% | ≈3.5% | 7.6% | In line | |
| ROA (TTM) | 11.6%5Y avg ≈8.8% | ≈8.8% | 3.0% | Top tier | |
| ROE (TTM) | 29.4%5Y avg ≈23.2% | ≈23.2% | 6.3% | Top tier | |
| ROIC | 10.0%5Y avg ≈23.8% | ≈23.8% | 9.7% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VLO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.65Y avg ≈1.5 | ≈1.5 | 1.3 | Strong liquidity | |
| Quick Ratio | 1.05Y avg ≈0.9 | ≈0.9 | 0.7 | Strong liquidity | |
| Interest Coverage | 5.75Y avg ≈12.8 | ≈12.8 | 5.1 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | VLO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -5.5%5Y avg ≈19.3% | ≈19.3% | · | · | |
| Revenue CAGR 3Y | -11.4%5Y avg ≈7.9% | ≈7.9% | · | · | |
| Revenue CAGR 5Y | 13.6% | · | · | · | |
| EPS YoY | -11.8%5Y avg ≈271.9% | ≈271.9% | · | · | |
| Net Income YoY | -15.2%5Y avg ≈258.1% | ≈258.1% | · | · | |
| EPS CAGR 3Y | -36.1% | · | · | · | |
| Net Income CAGR 3Y | -41.2% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VLO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 2.15Y avg ≈2.3 | ≈2.3 | 1.7 | Top tier | |
| Inventory Turnover | 15.35Y avg ≈18.5 | ≈18.5 | 12.5 | Top tier | |
| Receivables Turnover | 13.05Y avg ≈14.2 | ≈14.2 | 16.9 | Weak | |
| Revenue / Employee | ≈$12.5M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jul 31, 2026 | $1.20 | USD | ≈1.5% |
| May 21, 2026 | $1.20 | USD | ≈1.9% |
| Feb 5, 2026 | $1.20 | USD | ≈2.4% |
| Nov 20, 2025 | $1.13 | USD | ≈2.6% |
| Jul 31, 2025 | $1.13 | USD | ≈3.2% |
| May 20, 2025 | $1.13 | USD | ≈3.3% |
| Jan 30, 2025 | $1.13 | USD | ≈3.2% |
| Nov 20, 2024 | $1.07 | USD | ≈3.0% |
| Aug 1, 2024 | $1.07 | USD | ≈2.7% |
| May 30, 2024 | $1.07 | USD | ≈2.8% |
| Jan 31, 2024 | $1.07 | USD | ≈3.0% |
| Nov 16, 2023 | $1.02 | USD | ≈3.3% |
| Aug 2, 2023 | $1.02 | USD | ≈3.2% |
| May 22, 2023 | $1.02 | USD | ≈3.5% |
| Feb 13, 2023 | $1.02 | USD | ≈2.8% |
| Nov 16, 2022 | $0.98 | USD | ≈2.9% |
| Aug 3, 2022 | $0.98 | USD | ≈3.6% |
| May 11, 2022 | $0.98 | USD | ≈3.3% |
| Feb 2, 2022 | $0.98 | USD | ≈4.5% |
| Nov 17, 2021 | $0.98 | USD | ≈5.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 22, 2026 | $12.54 | $10.22 | 22.7% |
| March 31, 2026 | $4.22 | $3.19 | 32.2% | |
| Dec. 31, 2025 | $3.82 | $3.30 | 15.8% | |
| Sept. 30, 2025 | $3.66 | $3.08 | 18.8% | |
| June 30, 2025 | $2.28 | $1.75 | 30.0% | |
| March 31, 2025 | $0.89 | $0.42 | 109.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $122.69B | $129.88B | $144.77B | $176.38B | $113.98B | $64.91B | $108.32B | $117.03B | $93.98B | $75.66B | |
| Cost of Revenue | $117.25B | $125.08B | $131.83B | $159.59B | $110.85B | $65.65B | $103.55B | $111.44B | $89.47B | $71.31B | |
| SG&A Expense | $1.04B | $961M | $998M | $934M | $865M | $756M | $868M | $925M | $829M | $709M | |
| Operating Expenses | · | · | · | · | · | · | · | · | · | $72.09B | |
| Operating Income | $3.18B | $3.75B | $11.86B | $15.69B | $2.13B | $-1.58B | $3.84B | $4.57B | $3.56B | $3.53B | |
| Interest Expense | $556M | $556M | $592M | $562M | $603M | $563M | $454M | $470M | $468M | $446M | |
| Other Non-op | $380M | $499M | $502M | $179M | $16M | $132M | $104M | $130M | $112M | $94M | |
| Pretax Income | $3.00B | $3.70B | $11.77B | $15.31B | $1.54B | $-2.01B | $3.49B | $4.23B | $3.21B | $3.18B | |
| Income Tax | $759M | $692M | $2.62B | $3.43B | $255M | $-903M | $702M | $879M | $-949M | $765M | |
| Net Income | $2.35B | $2.77B | $8.84B | $11.53B | $930M | $-1.42B | $2.42B | $3.12B | $4.07B | $2.29B | |
| EPS (Basic) | $7.57 | $8.58 | $24.93 | $29.05 | $2.27 | $-3.50 | $5.84 | $7.30 | $9.17 | $4.94 | |
| EPS (Diluted) | $7.57 | $8.58 | $24.92 | $29.04 | $2.27 | $-3.50 | $5.84 | $7.29 | $9.16 | $4.94 | |
| Shares (Basic) | 309,000,000 | 322,000,000 | 353,000,000 | 395,000,000 | 407,000,000 | 407,000,000 | 413,000,000 | 426,000,000 | 442,000,000 | 461,000,000 | |
| Shares (Diluted) | 309,000,000 | 322,000,000 | 353,000,000 | 396,000,000 | 407,000,000 | 407,000,000 | 414,000,000 | 428,000,000 | 444,000,000 | 464,000,000 | |
| EBITDA | $6.34B | $6.53B | $14.56B | $18.16B | $4.54B | $772M | $6.09B | $6.64B | $5.58B | $5.47B |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.69B | $4.66B | $5.42B | $4.86B | $4.12B | $3.31B | $2.58B | $2.98B | $5.85B | $4.82B | |
| Receivables | $9.88B | $9.73B | $11.04B | $10.76B | $9.97B | $4.81B | $8.06B | $7.34B | $6.92B | $5.90B | |
| Inventory | $7.59B | $7.76B | $7.58B | $6.75B | $6.26B | $6.04B | $7.01B | $6.53B | $6.38B | $5.71B | |
| Prepaid Expense | $1.05B | $611M | $689M | $600M | $400M | $384M | $385M | $816M | $156M | $374M | |
| Current Assets | $23.21B | $23.74B | $26.22B | $24.13B | $21.16B | $15.84B | $18.97B | $17.68B | $19.31B | $16.80B | |
| PP&E (Net) | · | · | · | · | · | · | $29.26B | $28.85B | $27.48B | $26.47B | |
| PP&E (Gross) | · | · | · | · | · | · | $44.29B | $42.47B | $40.01B | $37.73B | |
| Accum. Depreciation | · | · | · | · | · | · | $15.03B | $13.62B | $12.53B | $11.26B | |
| Goodwill | $260M | $260M | $260M | $260M | $260M | $260M | $260M | $260M | $0 | · | |
| Intangibles | $123M | $151M | $183M | $202M | $218M | $248M | $283M | $307M | $142M | $148M | |
| Other Non-current Assets | · | $7.09B | $6.63B | $5.87B | $5.88B | $5.54B | $5.63B | $3.63B | $3.37B | $2.90B | |
| Total Assets | $57.99B | $60.14B | $63.06B | $60.98B | $57.89B | $51.77B | $53.86B | $50.16B | $50.16B | $46.17B | |
| Accounts Payable | $10.14B | $12.09B | $12.57B | $12.73B | $12.49B | $6.08B | $10.21B | $8.59B | $8.35B | $6.36B | |
| Accrued Liabilities | $1.40B | $1.13B | $1.24B | $1.22B | $1.25B | $994M | $949M | $630M | $712M | $694M | |
| Current Liabilities | $14.11B | $15.49B | $16.80B | $17.46B | $16.85B | $9.28B | $13.16B | $10.72B | $11.07B | $8.33B | |
| Capital Leases | $665M | $699M | $753M | $776M | $940M | $885M | $959M | · | · | · | |
| Deferred Tax | $5.15B | $5.27B | $5.35B | $5.22B | $5.21B | $5.28B | $5.10B | $4.96B | $4.71B | $7.36B | |
| Other Non-current Liabilities | $2.46B | $2.14B | $2.26B | $2.31B | $3.40B | $3.62B | $3.89B | $2.87B | $2.73B | $1.74B | |
| Long-term Debt | $8.26B | $8.09B | $9.22B | $9.24B | $11.95B | $13.01B | $8.88B | $8.50B | $8.31B | $7.93B | |
| Common Stock | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Retained Earnings | $47.96B | $47.02B | $45.63B | $38.25B | $28.28B | $28.95B | $31.97B | $31.04B | $29.20B | $26.37B | |
| Treasury Stock | $30.75B | $28.18B | $25.32B | $20.20B | $15.68B | $15.72B | $15.65B | $14.93B | $13.31B | $12.03B | |
| AOCI | $-469M | $-1.27B | $-870M | $-1.36B | $-1.01B | $-1.25B | $-1.35B | $-1.51B | $-940M | $-1.41B | |
| Stockholders' Equity | $23.73B | $24.51B | $26.35B | $23.56B | $18.43B | $18.80B | $21.80B | $21.67B | $21.99B | $20.02B | |
| Liabilities + Equity | $57.99B | $60.14B | $63.06B | $60.98B | $57.89B | $51.77B | $53.86B | $50.16B | $50.16B | $46.17B | |
| Shares Outstanding | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3.16B | $2.77B | $2.70B | $2.47B | $2.40B | $2.35B | $2.25B | $2.07B | $1.99B | $1.89B | |
| Stock-based Comp | $117M | $100M | $107M | $103M | $88M | $80M | $89M | $86M | $77M | $68M | |
| Deferred Tax | $-197M | $-87M | $103M | $50M | $-126M | $158M | $234M | $203M | $-2.54B | $230M | |
| Other Non-cash | $400M | $1.13B | $-2.52B | $-1.58B | $2.56B | $-220M | $531M | $-1.11B | $1.90B | $339M | |
| Operating Cash Flow | $5.83B | $6.68B | $9.23B | $12.57B | $5.86B | $948M | $5.53B | $4.37B | $5.48B | $4.82B | |
| CapEx | · | $2.06B | $1.92B | $2.74B | $2.46B | $2.44B | $2.85B | $3.38B | $1.95B | $2.00B | |
| Investing Cash Flow | $-1.84B | $-1.98B | $-1.86B | $-2.81B | $-2.16B | $-2.42B | $-3.00B | $-3.93B | $-2.38B | $-2.01B | |
| Debt Issued | · | · | · | · | · | · | · | · | $380M | $2.15B | |
| Net Debt Issued | · | · | · | · | · | · | · | · | $380M | $2.15B | |
| Stock Repurchased | $2.60B | $2.88B | $5.14B | $4.58B | $27M | $156M | $777M | $1.71B | $1.37B | $1.34B | |
| Net Stock Activity | $-2.60B | $-2.88B | $-5.14B | $-4.58B | $-27M | $-156M | $-777M | $-1.71B | $-1.37B | $-1.34B | |
| Dividends Paid | $1.41B | $1.38B | $1.45B | $1.56B | $1.60B | $1.60B | $1.49B | $1.37B | $1.24B | $1.11B | |
| Financing Cash Flow | $-4.18B | $-5.05B | $-6.94B | $-8.85B | $-2.85B | $2.08B | $-3.00B | $-3.17B | $-2.27B | $-2.01B | |
| Net Change in Cash | $36M | $-595M | $562M | $740M | $809M | $730M | $-399M | $-2.87B | $1.03B | $702M | |
| Taxes Paid | $699M | $843M | $3.49B | $3.29B | $-842M | $203M | $-116M | $1.36B | $410M | $444M | |
| Free Cash Flow | · | $4.63B | $7.31B | $9.84B | $3.40B | $-1.49B | $2.69B | $995M | $4.13B | $3.54B | |
| Levered FCF | · | $4.17B | $6.85B | $9.40B | $2.90B | $-1.80B | $2.32B | $623M | $3.52B | $3.20B |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 2.6% | 2.9% | 8.2% | 8.9% | 1.9% | -2.4% | 3.5% | 3.9% | · | · | |
| Net Margin | 1.9% | 2.1% | 6.1% | 6.5% | 0.82% | -2.2% | 2.2% | 2.7% | · | · | |
| Pretax Margin | 2.5% | 2.9% | 8.1% | 8.7% | 1.4% | -3.1% | 3.2% | 3.6% | · | · | |
| EBITDA Margin | 5.2% | 5.0% | 10.1% | 10.3% | 4.0% | 1.2% | 5.6% | 5.7% | · | · | |
| ROA | 4.0% | 4.5% | 14.2% | 19.4% | 1.7% | -2.7% | 4.7% | 6.2% | 8.4% | 5.1% | |
| ROE | 9.7% | 10.9% | 35.4% | 54.9% | 5.0% | -7.0% | 11.1% | 14.3% | 19.4% | 11.3% | |
| ROIC | 10.0% | 12.4% | 35.0% | 51.7% | 9.7% | -4.6% | 14.1% | 16.7% | 21.2% | 13.6% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.5 | 1.6 | 1.4 | 1.3 | 1.7 | 1.4 | 1.6 | 1.7 | 2.0 | |
| Quick Ratio | 1.0 | 0.9 | 1.0 | 0.9 | 0.8 | 0.9 | 0.9 | 1.0 | 1.2 | 1.3 | |
| Interest Coverage | 5.7 | 6.8 | 20.0 | 27.9 | 3.5 | -2.8 | 8.4 | 9.7 | 7.7 | 8.0 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.1 | 2.1 | 2.3 | 3.0 | 2.1 | 1.2 | 2.1 | 2.3 | · | · | |
| Inventory Turnover | 15.3 | 16.3 | 18.4 | 24.5 | 18.0 | 10.1 | 15.3 | 17.3 | 14.8 | · | |
| Receivables Turnover | 13.0 | 12.5 | 13.3 | 17.0 | 15.4 | 10.1 | 13.3 | 16.4 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $35.25 | $36.42 | $39.15 | $35.01 | $27.38 | $27.94 | $32.40 | $32.19 | $32.68 | $29.75 | |
| Revenue / Share | $397.05 | $403.36 | $410.10 | $445.41 | $280.04 | $159.49 | $261.65 | $273.44 | · | · | |
| Cash Flow / Share | $18.85 | $20.75 | $26.14 | $31.75 | $14.40 | $2.33 | $13.36 | $10.21 | $12.35 | $10.39 | |
| Cash / Share | $6.97 | $6.92 | $8.06 | $7.22 | $6.12 | $4.92 | $3.84 | $4.43 | $8.69 | $7.16 | |
| Dividend Paid / Share | $4.52 | $4.28 | $4.08 | $3.92 | $3.92 | $3.92 | $3.60 | $3.20 | $2.80 | $2.40 | |
| EPS (TTM) | $7.57 | $8.58 | $24.92 | $29.04 | $2.27 | $-3.50 | $5.84 | $7.29 | $9.16 | $4.94 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -5.5% | -10.3% | -17.9% | 54.8% | 75.6% | · | · | · | · | · | |
| Revenue CAGR 3Y | -11.4% | 4.5% | 30.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 13.6% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -11.8% | -65.6% | -14.2% | 1179.3% | · | · | · | · | · | · | |
| EPS CAGR 3Y | -36.1% | 55.8% | · | · | · | · | · | · | · | · | |
| Net Income YoY | -15.2% | -68.7% | -23.4% | 1139.6% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -41.2% | 43.9% | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | -2.6% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $122.69B | $129.88B | $144.77B | $176.38B | $113.98B | $64.91B | $108.32B | $117.03B | $93.98B | $75.66B | |
| Net Income TTM | $2.35B | $2.77B | $8.84B | $11.53B | $930M | $-1.42B | $2.42B | $3.12B | $4.07B | $2.29B | |
| Market Cap | $109.56B | $82.50B | $87.49B | $85.38B | $50.55B | $38.07B | $63.03B | $50.45B | $61.86B | $45.98B | |
| P/E | 21.5 | 14.3 | 5.2 | 4.4 | 33.1 | -16.2 | 16.0 | 10.3 | 10.0 | 13.8 | |
| P/S | 0.9 | 0.6 | 0.6 | 0.5 | 0.4 | 0.6 | 0.6 | 0.4 | 0.7 | 0.6 | |
| P/B | 4.6 | 3.4 | 3.3 | 3.6 | 2.7 | 2.0 | 2.9 | 2.3 | 2.8 | 2.3 | |
| P / Tangible Book | 4.7 | 3.4 | 3.4 | 3.7 | 2.8 | 2.1 | · | · | · | · | |
| P / Cash Flow | 18.8 | 12.3 | 9.5 | 6.8 | 8.6 | 40.2 | 11.4 | 11.5 | 11.3 | 9.5 | |
| P / FCF | · | 17.8 | 12.0 | 8.7 | 14.9 | -25.6 | 23.5 | 50.7 | 15.0 | 13.0 | |
| Dividend Yield | 1.3% | 1.7% | 1.7% | 1.8% | 3.2% | 4.2% | 2.4% | 2.7% | 2.0% | 2.4% | |
| Earnings Yield | 4.7% | 7.0% | 19.2% | 22.9% | 3.0% | -6.2% | 6.2% | 9.7% | 10.0% | 7.2% | |
| Payout Ratio | 59.8% | 50.0% | 16.4% | 13.6% | 172.3% | -112.6% | 61.6% | 43.9% | 30.6% | 48.5% | |
| Annual Payout | $1.41B | $1.38B | $1.45B | $1.56B | $1.60B | $1.60B | $1.49B | $1.37B | $1.24B | $1.11B |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.48B | $32.38B | $30.37B | $32.17B | $29.89B | $30.26B | $30.76B | $32.88B | $34.49B | $31.76B | $35.41B | $38.40B | $34.51B | $36.44B | $41.75B | $44.45B | |
| Cost of Revenue | $39.01B | $30.33B | $28.47B | $30.40B | $28.64B | $29.75B | $30.13B | $32.12B | $33.05B | $29.78B | $33.54B | $34.63B | $31.53B | $32.13B | $37.07B | $40.43B | |
| SG&A Expense | $233M | $285M | $315M | $246M | $220M | $261M | $266M | $234M | $203M | $258M | $295M | $250M | $209M | $244M | $282M | $214M | |
| Operating Income | $5.20B | $1.73B | $1.57B | $1.51B | $997M | $-900M | $348M | $507M | $1.22B | $1.68B | $1.55B | $3.50B | $2.76B | $4.04B | $4.29B | $3.79B | |
| Interest Expense | $145M | $140M | $139M | $139M | $141M | $137M | $135M | $141M | $140M | $140M | $149M | $149M | $148M | $146M | $137M | $138M | |
| Other Non-op | $116M | $132M | $88M | $86M | $86M | $120M | $110M | $123M | $122M | $144M | $145M | $122M | $106M | $129M | $92M | $74M | |
| Pretax Income | $5.17B | $1.72B | $1.52B | $1.46B | $942M | $-917M | $323M | $489M | $1.20B | $1.68B | $1.55B | $3.48B | $2.72B | $4.03B | $4.25B | $3.73B | |
| Income Tax | $1.09B | $401M | $355M | $390M | $279M | $-265M | $-34M | $96M | $277M | $353M | $331M | $813M | $595M | $880M | $1.02B | $816M | |
| Net Income | $3.72B | $1.26B | $1.13B | $1.09B | $714M | $-595M | $281M | $364M | $880M | $1.25B | $1.20B | $2.62B | $1.94B | $3.07B | $3.11B | $2.82B | |
| EPS (Basic) | $12.62 | $4.22 | $3.65 | $3.54 | $2.28 | $-1.90 | $0.98 | $1.14 | $2.71 | $3.75 | $3.73 | $7.49 | $5.41 | $8.30 | $8.06 | $7.20 | |
| EPS (Diluted) | $12.62 | $4.22 | $3.66 | $3.53 | $2.28 | $-1.90 | $0.98 | $1.14 | $2.71 | $3.75 | $3.74 | $7.49 | $5.40 | $8.29 | $8.07 | $7.19 | |
| Shares (Basic) | 294,000,000 | 298,000,000 | · | 309,000,000 | 312,000,000 | 314,000,000 | · | 318,000,000 | 324,000,000 | 331,000,000 | · | 349,000,000 | 358,000,000 | 369,000,000 | · | 390,000,000 | |
| Shares (Diluted) | 294,000,000 | 298,000,000 | · | 309,000,000 | 312,000,000 | 314,000,000 | · | 318,000,000 | 324,000,000 | 331,000,000 | · | 349,000,000 | 358,000,000 | 369,000,000 | · | 390,000,000 | |
| EBITDA | $5.20B | $2.57B | · | $1.51B | $997M | $-209M | · | $507M | $1.22B | $2.37B | · | $3.50B | $2.76B | $4.70B | · | $3.79B |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.87B | $5.73B | $4.69B | $4.76B | $4.54B | $4.63B | $4.66B | $5.18B | $5.25B | $4.92B | · | $5.83B | $5.08B | $5.52B | · | $3.97B | |
| Receivables | $13.93B | $13.41B | $9.21B | $10.33B | $11.07B | $11.24B | $9.73B | $11.07B | $13.14B | $12.15B | · | $12.57B | $10.89B | $9.69B | · | $11.58B | |
| Inventory | $7.62B | $7.56B | $7.59B | $7.39B | $7.54B | $7.12B | $7.76B | $7.05B | $8.03B | $7.91B | · | $7.51B | $6.96B | $7.46B | · | $6.63B | |
| Prepaid Expense | $1.24B | $1.13B | $1.05B | $1.01B | $656M | $599M | $611M | $671M | $696M | $695M | · | $667M | $771M | $671M | · | $518M | |
| Current Assets | $30.67B | $27.82B | $23.21B | $23.50B | $23.80B | $23.59B | $23.74B | $23.98B | $27.11B | $25.67B | · | $26.58B | $23.70B | $23.34B | · | $22.70B | |
| PP&E (Net) | · | · | · | $1.25B | $1.41B | · | · | · | · | · | · | · | · | · | · | · | |
| Goodwill | · | · | $260M | · | · | · | $260M | · | · | · | · | · | · | · | · | · | |
| Intangibles | · | · | $123M | · | · | · | $151M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | · | · | · | $7.37B | $7.39B | $7.04B | · | $6.72B | $6.73B | $6.83B | · | $6.34B | $6.40B | $6.06B | · | $6.12B | |
| Total Assets | $64.66B | $62.14B | $57.99B | $58.62B | $59.43B | $59.18B | $60.14B | $60.38B | $63.62B | $62.57B | · | $63.17B | $60.67B | $60.18B | · | $59.33B | |
| Accounts Payable | $14.42B | $13.40B | $10.14B | $10.69B | $11.50B | $11.98B | $12.09B | $11.52B | $14.56B | $12.46B | · | $13.34B | $10.82B | $10.50B | · | $13.00B | |
| Accrued Liabilities | $1.34B | $1.31B | $1.40B | $1.44B | $1.29B | $1.15B | $1.13B | $1.19B | $1.06B | $1.10B | · | $1.22B | $1.12B | $1.17B | · | $1.26B | |
| Current Liabilities | $18.74B | $17.65B | $14.11B | $14.73B | $14.68B | $15.14B | $15.49B | $15.30B | $18.32B | $16.15B | · | $17.59B | $14.95B | $15.37B | · | $17.24B | |
| Capital Leases | · | · | $665M | · | · | · | $699M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $4.89B | $4.72B | $5.15B | $5.02B | $5.05B | $4.95B | $5.27B | $5.26B | $5.22B | $5.26B | · | $5.23B | $5.38B | $5.28B | · | $4.94B | |
| Other Non-current Liabilities | $2.35B | $2.37B | $2.46B | $2.43B | $2.50B | $2.46B | $2.14B | $2.03B | $2.08B | $2.30B | · | $2.19B | $2.21B | $2.29B | · | $2.87B | |
| Long-term Debt | · | · | $8.26B | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | · | $7M | $7M | $7M | · | $7M | |
| Retained Earnings | $52.23B | $48.86B | $47.96B | $47.17B | $46.42B | $46.06B | $47.02B | $47.07B | $47.05B | $46.52B | · | $44.77B | $42.51B | $40.94B | · | $35.51B | |
| Treasury Stock | $33.58B | $31.29B | $30.75B | $29.69B | $28.76B | $28.42B | $28.18B | $27.94B | $27.37B | $26.33B | · | $24.38B | $22.59B | $21.64B | · | $18.47B | |
| AOCI | $-673M | $-712M | $-469M | $-708M | $-553M | $-1.11B | $-1.27B | $-830M | $-1.17B | $-1.05B | · | $-1.32B | $-971M | $-1.21B | · | $-2.00B | |
| Stockholders' Equity | $25.00B | $23.87B | $23.73B | $23.75B | $24.08B | $23.49B | $24.51B | $25.25B | $25.44B | $26.06B | · | $25.98B | $25.85B | $24.98B | · | $21.91B | |
| Liabilities + Equity | $64.66B | $62.14B | $57.99B | $58.62B | $59.43B | $59.18B | $60.14B | $60.38B | $63.62B | $62.57B | · | $63.17B | $60.67B | $60.18B | · | $59.33B | |
| Shares Outstanding | · | · | 673,000,000 | · | · | · | 673,000,000 | · | · | · | 673,000,000 | · | · | · | 673,000,000 | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $737M | $840M | $817M | $836M | $814M | $691M | $698M | $685M | $696M | $695M | $690M | $682M | $669M | $660M | $633M | $632M | |
| Other Non-cash | · | $-713M | · | · | · | $856M | · | · | · | $-94M | · | · | · | $-557M | · | · | |
| Operating Cash Flow | $5.58B | $1.39B | $2.06B | $1.88B | $936M | $952M | $1.07B | $1.29B | $2.47B | $1.85B | $1.24B | $3.31B | $1.51B | $3.17B | $4.10B | $2.04B | |
| CapEx | · | · | · | $409M | $407M | $659M | · | $429M | $420M | $661M | · | · | · | · | · | · | |
| Investing Cash Flow | $-361M | $-400M | $-419M | $-379M | $-412M | $-635M | $-544M | $-408M | $-392M | $-637M | $-483M | $-304M | $-529M | $-549M | $-735M | $-610M | |
| Stock Repurchased | $2.26B | $573M | $1.06B | $922M | $338M | $274M | $259M | $560M | $1.03B | $1.02B | $956M | $1.79B | $942M | $1.45B | $1.81B | $877M | |
| Net Stock Activity | · | $-573M | · | · | · | $-274M | · | · | · | $-1.02B | · | · | · | $-1.45B | · | · | |
| Dividends Paid | $355M | $359M | $344M | $351M | $354M | $356M | $339M | $342M | $347M | $356M | $346M | $360M | $367M | $379M | $376M | $386M | |
| Financing Cash Flow | $-3.03B | $124M | $-1.75B | $-1.20B | $-849M | $-382M | $-784M | $-1.07B | $-1.55B | $-1.64B | $-1.30B | $-2.12B | $-1.52B | $-2.00B | $-2.58B | $-2.63B | |
| Net Change in Cash | $2.14B | $1.05B | $-76M | $229M | $-95M | $-22M | $-525M | $-60M | $497M | $-507M | $-407M | $756M | $-446M | $659M | $893M | $-1.42B | |
| Taxes Paid | $767M | $63M | $301M | $115M | $248M | $35M | $8M | $176M | $556M | $103M | $396M | $688M | $1.79B | $616M | $658M | $1.71B | |
| Free Cash Flow | · | · | · | · | · | $293M | · | · | · | · | · | · | · | · | · | · | |
| Levered FCF | · | · | · | · | · | $196M | · | · | · | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 11.7% | 5.3% | · | 4.7% | 3.3% | -3.0% | · | 1.5% | 3.5% | 5.3% | · | 9.1% | 8.0% | 11.1% | · | 8.5% | |
| Net Margin | 8.4% | 3.9% | · | 3.4% | 2.4% | -2.0% | · | 1.1% | 2.5% | 3.9% | · | 6.8% | 5.6% | 8.4% | · | 6.3% | |
| Pretax Margin | 11.6% | 5.3% | · | 4.5% | 3.1% | -3.0% | · | 1.5% | 3.5% | 5.3% | · | 9.0% | 7.9% | 11.1% | · | 8.4% | |
| EBITDA Margin | 11.7% | 7.9% | · | 4.7% | 3.3% | -0.69% | · | 1.5% | 3.5% | 7.5% | · | 9.1% | 8.0% | 12.9% | · | 8.5% | |
| ROA | 6.0% | 2.1% | · | 1.8% | 1.2% | -0.98% | · | 0.59% | 1.4% | 2.0% | · | 4.3% | 3.1% | 5.1% | · | 4.9% | |
| ROE | 15.2% | 5.3% | · | 4.5% | 2.9% | -2.4% | · | 1.4% | 3.4% | 4.9% | · | 10.9% | 8.3% | 14.0% | · | 14.3% | |
| ROIC | 16.4% | 5.6% | · | 4.7% | 2.9% | -2.7% | · | 1.6% | 3.7% | 5.1% | · | 10.3% | 8.3% | 12.7% | · | 13.5% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.6 | · | 1.6 | 1.6 | 1.6 | · | 1.6 | 1.5 | 1.6 | · | 1.5 | 1.6 | 1.5 | · | 1.3 | |
| Quick Ratio | 1.2 | 1.1 | · | 1.0 | 1.1 | 1.0 | · | 1.1 | 1.0 | 1.1 | · | 1.0 | 1.1 | 1.0 | · | 0.9 | |
| Interest Coverage | 35.8 | 12.4 | · | 10.9 | 7.1 | -6.6 | · | 3.6 | 8.7 | 12.0 | · | 23.5 | 18.6 | 27.7 | · | 27.5 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.8 | |
| Inventory Turnover | 5.1 | 4.1 | · | 4.2 | 3.7 | 4.0 | · | 4.4 | 4.4 | 3.9 | · | 4.9 | 4.5 | 4.4 | · | 6.3 | |
| Receivables Turnover | 3.6 | 2.6 | · | 3.0 | 2.5 | 2.6 | · | 2.8 | 2.9 | 2.9 | · | 3.2 | 2.7 | 3.2 | · | 4.4 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $151.28 | $108.66 | · | $104.10 | $95.80 | $96.36 | · | $103.38 | $106.45 | $95.95 | · | $110.04 | $96.39 | $98.75 | · | $113.98 | |
| Cash Flow / Share | · | $4.66 | · | · | · | $3.03 | · | · | · | $5.58 | · | · | · | $8.59 | · | · | |
| Dividend Paid / Share | $1.20 | $1.20 | $1.13 | $1.13 | $1.13 | $1.13 | $1.07 | $1.07 | $1.07 | $1.07 | $1.02 | $1.02 | $1.02 | $1.02 | $0.98 | $0.98 | |
| EPS (TTM) | $24.03 | $13.69 | · | $4.89 | $2.50 | $2.93 | · | $11.34 | $17.69 | $20.38 | · | $29.25 | $28.95 | $35.12 | · | $23.45 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $139.40B | $124.81B | · | $123.07B | $123.78B | $128.38B | · | $134.54B | $140.07B | $140.09B | · | $151.10B | $157.15B | $174.28B | · | $170.54B | |
| Net Income TTM | $7.21B | $4.21B | · | $1.50B | $764M | $930M | · | $3.69B | $5.95B | $7.01B | · | $10.75B | $10.94B | $13.69B | · | $9.42B | |
| P/E | 10.8 | 18.0 | · | 34.8 | 53.8 | 45.1 | · | 11.9 | 8.9 | 8.4 | · | 4.8 | 4.1 | 4.0 | · | 4.6 | |
| Earnings Yield | 9.2% | 5.5% | · | 2.9% | 1.9% | 2.2% | · | 8.4% | 11.3% | 11.9% | · | 20.6% | 24.7% | 25.2% | · | 21.9% | |
| Payout Ratio | · | 28.4% | · | · | · | -59.8% | · | · | · | 28.6% | · | · | · | 12.4% | · | · | |
| Annual Payout | $1.41B | $1.41B | · | $1.40B | $1.39B | $1.38B | · | $1.39B | $1.41B | $1.43B | · | $1.48B | $1.51B | $1.54B | · | $1.59B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $122.69B | $129.88B | $144.77B | $176.38B | $113.98B |
| Operating Margin % | 2.6% | 2.9% | 8.2% | 8.9% | 1.9% |
| Net Income | $2.35B | $2.77B | $8.84B | $11.53B | $930M |
| Diluted EPS | $7.57 | $8.58 | $24.92 | $29.04 | $2.27 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.5 | 1.6 | 1.4 | 1.3 |
| Quick Ratio | 1.0 | 0.9 | 1.0 | 0.9 | 0.8 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $4.63B | $7.31B | $9.84B | $3.40B |
Institutional owners (13F) 2,115 filers · $69.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 219 (-176 vs prior Q) | 100 (+5 vs prior Q) | 720 (+67 vs prior Q) | 729 (+113 vs prior Q) | +2.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $6,548,301,372 | 25,143,225 | 9.45% | Shares |
| VANGUARD GROUP INC | $6,128,715,224 | 37,647,983 | 8.84% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,050,780,113 | 19,393,258 | 7.29% | Shares |
| STATE STREET CORP | $4,923,100,445 | 18,903,012 | 7.10% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,866,239,093 | 14,845,028 | 5.58% | Shares |
| FMR LLC | $2,214,883,038 | 8,504,389 | 3.20% | Shares |
| MORGAN STANLEY | $2,093,763,916 | 8,039,331 | 3.02% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,903,346,778 | 7,269,612 | 2.75% | Shares |
| NORGES BANK | $1,667,581,954 | 6,402,941 | 2.41% | Shares |
| FRANKLIN RESOURCES INC | $1,648,288,385 | 6,328,819 | 2.38% | Shares |
| AMERIPRISE FINANCIAL INC | $1,360,593,974 | 5,223,386 | 1.96% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,195,943,441 | 4,592,012 | 1.73% | Shares |
| BARCLAYS PLC | $880,366,894 | 3,380,306 | 1.27% | Shares |
| NORTHERN TRUST CORP | $851,389,819 | 3,269,044 | 1.23% | Shares |
| Invesco Ltd. | $741,141,135 | 2,845,727 | 1.07% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $715,859,187 | 2,748,653 | 1.03% | Shares |
| Bank of New York Mellon Corp | $690,968,371 | 2,653,080 | 1.00% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $684,831,734 | 2,628,915 | 0.99% | Shares |
| GOLDMAN SACHS GROUP INC | $676,267,689 | 2,596,635 | 0.98% | Shares |
| Nuveen, LLC | $651,092,789 | 2,499,973 | 0.94% | Shares |
| JPMORGAN CHASE & CO | $585,901,654 | 2,199,990 | 0.85% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $570,908,440 | 2,192,092 | 0.82% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $526,195,610 | 2,020,410 | 0.76% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $503,745,606 | 1,908,575 | 0.73% | Shares |
| Amundi | $472,666,778 | 1,814,886 | 0.68% | Shares |
| Allspring Global Investments Holdings, LLC | $453,890,322 | 1,684,569 | 0.65% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $435,395,258 | 1,671,768 | 0.63% | Shares |
| UBS Group AG | $429,859,346 | 1,650,512 | 0.62% | Shares |
| Legal & General Group Plc | $417,276,185 | 1,602,197 | 0.60% | Shares |
| WELLS FARGO & COMPANY/MN | $401,978,813 | 1,543,461 | 0.58% | Shares |
| Allianz Asset Management GmbH | $384,172,440 | 1,475,090 | 0.55% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $379,934,670 | 1,537,699 | 0.55% | Shares |
| ROYAL BANK OF CANADA | $352,201,000 | 1,352,331 | 0.51% | Shares |
| Life Cycle Investment Partners Ltd | $341,699,103 | 1,312,007 | 0.49% | Shares |
| TWO SIGMA INVESTMENTS, LP | $334,270,833 | 1,283,485 | 0.48% | Shares |
| RAYMOND JAMES FINANCIAL INC | $278,898,676 | 1,070,875 | 0.40% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $263,487,148 | 1,011,700 | 0.38% | Call option |
| AGF MANAGEMENT LTD | $240,903,614 | 924,987 | 0.35% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $237,965,070 | 913,704 | 0.34% | Shares |
| DEUTSCHE BANK AG\ | $220,156,704 | 845,326 | 0.32% | Shares |
| Swiss National Bank | $219,629,052 | 843,300 | 0.32% | Shares |
| MILLENNIUM MANAGEMENT LLC | $209,519,553 | 804,483 | 0.30% | Shares |
| JANE STREET GROUP, LLC | $208,820,792 | 801,800 | 0.30% | Call option |
| VOYA INVESTMENT MANAGEMENT LLC | $207,092,252 | 795,163 | 0.30% | Shares |
| AustralianSuper Pty Ltd | $203,781,018 | 782,449 | 0.29% | Shares |
| HSBC HOLDINGS PLC | $194,173,540 | 743,997 | 0.28% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $190,196,254 | 730,284 | 0.27% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $189,904,253 | 729,167 | 0.27% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $180,999,289 | 694,975 | 0.26% | Shares |
| Robeco Institutional Asset Management B.V. | $178,927,747 | 687,021 | 0.26% | Shares |
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Valero Energy Corporation, Valero Terminaling and Distribution Company, Valero Forest Contribution LLC ×12 filings | Jan. 10, 2019 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 14, 2003 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | March 25, 2003 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Jan. 10, 2002 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 44 insiders · 15 officers · 26 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Lane R. Riggs | CEO & President | Feb. 25, 2026 A | 389,126 | 0 | 0 | $0 |
| Harminder S. Bhullar | SVP & CFO | Feb. 25, 2026 A | 28,599 | 0 | 0 | $0 |
| Jason W. Fraser | EVP & CFO | Nov. 21, 2025 S | 134,196 | 0 | 1 | $-1,728,541 |
| Donna M. Titzman | EVP and CFO | Feb. 26, 2020 A | 192,755 | 0 | 0 | $0 |
| KING GREGORY C | President | Oct. 29, 2007 F | 388,874 | 0 | 0 | $0 |
| Gary K. Simmons | EVP & COO | Sept. 16, 2026 G | 230,367 | 0 | 0 | $0 |
| Richard Joe Walsh | EVP & GC | Aug. 21, 2026 G | 97,091 | 0 | 0 | $0 |
| Eric A Fisher | SVP | June 29, 2026 S | 19,742 | 0 | 6 | $-7,662,872 |
| Cheryl L. Thomas | SVP & CTO | Feb. 23, 2023 A | 70,759 | 0 | 0 | $0 |
| Jay D. Browning | EVP and GC | Oct. 31, 2018 A | 222,465 | 0 | 0 | $0 |
| Michael R. Crownover | EVP | Nov. 24, 2015 M | 134,747 | 0 | 0 | $0 |
| EDWARDS S EUGENE | EVP | Jan. 21, 2014 M | 157,401 | 0 | 0 | $0 |
| Kimberly S. Bowers | EVP | April 15, 2013 F | 171,240 | 0 | 0 | $0 |
| Jean Bernier | EVP | March 15, 2012 M | 52,225 | 0 | 0 | $0 |
| BOOKE KEITH D | EVP and CAO | Oct. 29, 2005 F | 141,172 | 0 | 0 | $0 |
| Robert L Reymond | Director | Sept. 18, 2026 M | 1,375 | 0 | 0 | $0 |
| Matthew J Audette | Director | Sept. 17, 2026 A | · | 0 | 0 | $0 |
| Marie A Ffolkes | Director | May 7, 2026 A | 2,814 | 0 | 0 | $0 |
| Fred M Diaz | Director | May 7, 2026 A | 4,652 | 0 | 0 | $0 |
| Kimberly S, Greene | Director | May 7, 2026 A | 15,469 | 0 | 0 | $0 |
| Eric D. Mullins | Director | May 7, 2026 A | 11,671 | 0 | 0 | $0 |
| Deborah P Majoras | Director | May 7, 2026 A | 30,091 | 0 | 0 | $0 |
| Rayford Wilkins JR | Director | May 7, 2026 A | 43,079 | 0 | 0 | $0 |
| Paulett Eberhart | Director | May 7, 2026 A | 15,664 | 0 | 0 | $0 |
| Randall J Weisenburger | Director | May 7, 2026 A | 112,835 | 0 | 0 | $0 |
| VALERO ENERGY CORP/TX | Director | May 6, 2025 A | · | 0 | 0 | $0 |
| Robert Profusek | Director | May 15, 2024 A | 44,322 | 0 | 0 | $0 |
| Donald L Nickles | Director | May 9, 2024 M | 32,826 | 0 | 0 | $0 |
| Philip J. Pfeiffer | Director | April 28, 2023 M | 28,738 | 0 | 0 | $0 |
| Stephen M Waters | Director | April 28, 2022 A | 14,584 | 0 | 0 | $0 |
| Susan Kaufman Purcell | Director | June 21, 2017 S | 9,866 | 0 | 0 | $0 |
| CHOATE JERRY D | Director | April 30, 2015 A | 98,044 | 0 | 0 | $0 |
| William R Klesse | Director | Nov. 14, 2014 S | 901,761 | 0 | 0 | $0 |
| Ruben M Escobedo | Director | May 2, 2013 A | 32,363 | 0 | 0 | $0 |
| Bob Marbut | Director | May 2, 2013 A | 14,392 | 0 | 0 | $0 |
| Ronald K Calgaard | Director | Feb. 15, 2013 S | 20,854 | 0 | 0 | $0 |
| Irl F Engelhardt | Director | April 29, 2010 A | 34,384 | 0 | 0 | $0 |
| W E Bradford | Director | April 30, 2009 A | 63,561 | 0 | 0 | $0 |
| William E Greehey | Director | Dec. 7, 2006 G | 1,022,733 | 0 | 0 | $0 |
| Robert G Dettmer | Director | Oct. 24, 2003 D | 9,541 | 0 | 0 | $0 |
| Joseph W Gorder | · | Nov. 7, 2024 G | 498,028 | 0 | 0 | $0 |
| Michael S Ciskowski | · | Jan. 23, 2018 M | 71,190 | 0 | 0 | $0 |
| Richard J Marcogliese | · | Oct. 25, 2010 F | 141,836 | 0 | 0 | $0 |
| Glenn E Biggs | · | April 28, 2006 M | 22,178 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 160 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IEO · iShares Trust | 12.13% | 238,071 SH | Sept. 11, 2026 | Daily |
| PXE · Invesco Exchange-Traded Fund Trust | 5.80% | 20,661 SH | Oct. 5, 2026 | Daily |
| RSPG · Invesco Exchange-Traded Fund Trust | 5.02% | 75,599 SH | Oct. 5, 2026 | Daily |
| IYE · iShares Trust | 4.62% | 226,942 SH | Sept. 11, 2026 | Daily |
| PXI · Invesco Exchange-Traded Fund Trust | 3.89% | 5,454 SH | Oct. 5, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | 3.79% | 156,496 SH | Oct. 5, 2026 | Daily |
| FENY · FIDELITY COVINGTON TRUST | 3.77% | 241,868 NS | July 31, 2026 | N-PORT |
| VDE · VANGUARD WORLD FUND | 3.50% | 1,479,023 SH | Aug. 19, 2026 | Daily |
| ERX · Direxion Shares ETF Trust | 3.36% | 25,096 NS | July 31, 2026 | N-PORT |
| IXC · iShares Trust | 2.94% | 225,936 SH | Sept. 11, 2026 | Daily |
| AMOM · Exchange Listed Funds Trust | 2.88% | 2,196 NS | July 31, 2026 | N-PORT |
| IGE · iShares Trust | 2.79% | 58,002 SH | Sept. 11, 2026 | Daily |
| FXN · First Trust Exchange-Traded AlphaDE… | 2.75% | 33,292 NS | July 31, 2026 | N-PORT |
| SMRI · EA Series Trust | 2.33% | 47,921 NS | July 31, 2026 | N-PORT |
| LYLD · Cambria ETF Trust | 2.29% | 530 NS | July 31, 2026 | N-PORT |
| RPV · Invesco Exchange-Traded Fund Trust | 2.22% | 90,601 SH | Oct. 5, 2026 | Daily |
| HGRO · ETF Opportunities Trust | 2.08% | 8,390 NS | July 31, 2026 | N-PORT |
| GUSH · Direxion Shares ETF Trust | 1.95% | 15,441 NS | July 31, 2026 | N-PORT |
| TEXN · iShares Trust | 1.89% | 923 SH | Sept. 11, 2026 | Daily |
| PWV · Invesco Exchange-Traded Fund Trust | 1.81% | 81,491 SH | Oct. 5, 2026 | Daily |
| SPVM · Invesco Exchange-Traded Fund Trust | 1.80% | 5,841 SH | Oct. 5, 2026 | Daily |
| LSEQ · Harbor ETF Trust | 1.80% | 879 NS | July 31, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 1.68% | 1,002,903 NS | July 31, 2026 | N-PORT |
| IMCV · iShares Trust | 1.60% | 48,200 SH | Sept. 11, 2026 | Daily |
| DVY · iShares Trust | 1.36% | 833,306 SH | Sept. 11, 2026 | Daily |
| VOE · VANGUARD INDEX FUNDS | 1.33% | 1,907,406 SH | Aug. 19, 2026 | Daily |
| SYLD · Cambria ETF Trust | 1.23% | 38,992 NS | July 31, 2026 | N-PORT |
| VAMO · Cambria ETF Trust | 1.12% | 3,874 NS | July 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 1.11% | 88,390 NS | July 31, 2026 | N-PORT |
| SPHQ · Invesco Exchange-Traded Fund Trust | 1.10% | 509,016 SH | Oct. 5, 2026 | Daily |
| MTUM · iShares Trust | 1.10% | 692,614 SH | Sept. 11, 2026 | Daily |
| PDP · Invesco Exchange-Traded Fund Trust | 1.00% | 36,815 SH | Oct. 5, 2026 | Daily |
| EQIN · Columbia ETF Trust I | 0.98% | 9,485 NS | July 31, 2026 | N-PORT |
| WLDR · Two Roads Shared Trust | 0.96% | 2,799 NS | July 31, 2026 | N-PORT |
| SPMO · Invesco Exchange-Traded Fund Trust … | 0.91% | 526,587 SH | Oct. 5, 2026 | Daily |
| AMZA · ETFis Series Trust I | 0.90% | 13,574 NS | July 31, 2026 | N-PORT |
| DFLV · Dimensional ETF Trust | 0.86% | 185,336 NS | July 31, 2026 | N-PORT |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.83% | 36,927 NS | July 31, 2026 | N-PORT |
| VLUE · iShares Trust | 0.81% | 200,943 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.80% | 34,714 SH | Sept. 11, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.75% | 6,434,765 SH | Aug. 19, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.74% | 179,290 SH | Oct. 5, 2026 | Daily |
| QLC · FlexShares Trust | 0.73% | 23,744 NS | July 31, 2026 | N-PORT |
| QDEF · FlexShares Trust | 0.72% | 12,546 NS | July 31, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.71% | 2,530 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.69% | 166,537 SH | Oct. 5, 2026 | Daily |
| XOEF · iShares Trust | 0.64% | 372 SH | Sept. 11, 2026 | Daily |
| REVS · Columbia ETF Trust I | 0.60% | 6,413 NS | July 31, 2026 | N-PORT |
| UPSD · ETF Series Solutions | 0.60% | 2,243 NS | July 31, 2026 | N-PORT |
| VLLU · Harbor ETF Trust | 0.59% | 88 NS | July 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.57% | 15,502 SH | Aug. 19, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.55% | 13,087 SH | Oct. 5, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.49% | 242,359 NS | July 31, 2026 | N-PORT |
| EIPX · First Trust Exchange-Traded Fund IV | 0.48% | 8,688 NS | July 31, 2026 | N-PORT |
| HAPI · Harbor ETF Trust | 0.48% | 7,503 NS | July 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.48% | 6,978 NS | July 31, 2026 | N-PORT |
| DIVB · iShares Trust | 0.47% | 24,781 SH | Sept. 11, 2026 | Daily |
| DYNF · BlackRock ETF Trust | 0.44% | 475,397 SH | Sept. 11, 2026 | Daily |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.43% | 21,641 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.41% | 2,232 NS | July 31, 2026 | N-PORT |
| LRGF · iShares Trust | 0.41% | 39,302 SH | Sept. 11, 2026 | Daily |
| GLOF · iShares Trust | 0.41% | 2,140 SH | Sept. 11, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.40% | 491,000 | Oct. 5, 2026 | Daily |
| PALC · Pacer Funds Trust | 0.40% | 2,671 NS | July 31, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.39% | 2,290 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.38% | 492,674 SH | Sept. 11, 2026 | Daily |
| RECS · Columbia ETF Trust I | 0.38% | 71,151 NS | July 31, 2026 | N-PORT |
| EVUS · iShares Trust | 0.38% | 3,720 SH | Sept. 11, 2026 | Daily |
| IWX · iShares Trust | 0.37% | 37,531 SH | Sept. 11, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 29,456 NS | July 31, 2026 | N-PORT |
| FDMO · FIDELITY COVINGTON TRUST | 0.37% | 10,577 NS | July 31, 2026 | N-PORT |
| IUSV · iShares Trust | 0.36% | 259,816 SH | Sept. 11, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.35% | 9,215 NS | July 31, 2026 | N-PORT |
| SUSL · iShares Trust | 0.34% | 10,482 SH | Sept. 11, 2026 | Daily |
| ILCV · iShares Trust | 0.33% | 11,532 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.32% | 45,383 SH | Sept. 11, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.32% | 1,181,213 SH | Aug. 19, 2026 | Daily |
| DFVX · Dimensional ETF Trust | 0.31% | 5,238 NS | July 31, 2026 | N-PORT |
| SUSA · iShares Trust | 0.30% | 31,696 SH | Sept. 11, 2026 | Daily |
| VTV · VANGUARD INDEX FUNDS | 0.29% | 2,826,068 SH | Aug. 19, 2026 | Daily |
| IQSU · New York Life Investments ETF Trust | 0.28% | 2,957 NS | July 31, 2026 | N-PORT |
| SIZE · iShares Trust | 0.27% | 2,995 SH | Sept. 11, 2026 | Daily |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.27% | 68,378 SH | Aug. 19, 2026 | Daily |
| IWD · iShares Trust | 0.27% | 578,379 SH | Sept. 11, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.26% | 8,377 SH | Aug. 19, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 0.25% | 1,642 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.25% | 4,854 SH | Oct. 5, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.24% | 8,433,000 | Oct. 5, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.24% | 18,115 SH | Aug. 19, 2026 | Daily |
| EUSA · iShares, Inc. | 0.23% | 11,272 SH | Sept. 11, 2026 | Daily |
| EGLE · Global X Funds | 0.21% | 15 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.21% | 500,622 SH | Oct. 5, 2026 | Daily |
| TOPC · iShares Trust | 0.21% | 181 SH | Sept. 11, 2026 | Daily |
| IWL · iShares Trust | 0.20% | 11,464 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.20% | 3,477 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.20% | 3,409 SH | Sept. 11, 2026 | Daily |
| ESG · FlexShares Trust | 0.19% | 810 NS | July 31, 2026 | N-PORT |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.19% | 157,129 SH | Aug. 19, 2026 | Daily |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.19% | 7,732 SH | Oct. 5, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.18% | 47,655 SH | Oct. 5, 2026 | Daily |
| PBP · Invesco Exchange-Traded Fund Trust | 0.18% | 1,713 SH | Oct. 5, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.18% | 4,848,000 | Oct. 5, 2026 | Daily |
| IVV · iShares Trust | 0.17% | 3,742,410 SH | Sept. 11, 2026 | Daily |
| ILCB · iShares Trust | 0.17% | 5,737 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.17% | 12,305 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.17% | 17,751 NS | July 31, 2026 | N-PORT |
| IYY · iShares Trust | 0.16% | 12,710 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.16% | 205,004 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.16% | 64,162 NS | July 31, 2026 | N-PORT |
| TOV · EA Series Trust | 0.16% | 1,333 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.16% | 386,595 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.16% | 81,283 SH | Sept. 11, 2026 | Daily |
| PHDG · Invesco Actively Managed Exchange-T… | 0.15% | 227 SH | Oct. 5, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.15% | 223,502 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.15% | 27 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.15% | 37 NS | July 31, 2026 | N-PORT |
| BKLC · BNY Mellon ETF Trust | 0.14% | 25,319 NS | July 31, 2026 | N-PORT |
| CATH · Global X Funds | 0.14% | 6,023 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.14% | 14,925 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.14% | 230 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.14% | 15,016 NS | July 31, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 40,844 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.14% | 5,009 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.14% | 289 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.14% | 16 NS | July 31, 2026 | N-PORT |
| XTR · Global X Funds | 0.14% | 21 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.14% | 90,928 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.14% | 831 SH | Sept. 11, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.13% | 1,120 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.13% | 7,132 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 0.13% | 26,872 SH | Sept. 11, 2026 | Daily |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.13% | 5,864,000 | Oct. 5, 2026 | Daily |
| VOO · VANGUARD INDEX FUNDS | 0.12% | 7,710,423 SH | Aug. 19, 2026 | Daily |
| VV · VANGUARD INDEX FUNDS | 0.12% | 346,786 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.12% | 8,216 NS | July 31, 2026 | N-PORT |
| PEVC · Pacer Funds Trust | 0.12% | 9 NS | July 31, 2026 | N-PORT |
| HCMT · Direxion Shares ETF Trust | 0.11% | 2,064 NS | July 31, 2026 | N-PORT |
| ACWI · iShares Trust | 0.11% | 94,949 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.11% | 9,427,812 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.11% | 48,811 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.11% | 24,903 SH | Aug. 19, 2026 | Daily |
| SPXL · Direxion Shares ETF Trust | 0.11% | 23,211 NS | July 31, 2026 | N-PORT |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.10% | 3,010,000 | Oct. 5, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.07% | 248,656 SH | Aug. 19, 2026 | Daily |
| LGDX · Tidal Trust III | 0.07% | 303 NS | July 31, 2026 | N-PORT |
| IWY · iShares Trust | 0.05% | 19,528 SH | Sept. 11, 2026 | Daily |
| IWF · iShares Trust | 0.04% | 133,526 SH | Sept. 11, 2026 | Daily |
| ROUS · Lattice Strategies Trust | 0.04% | 836 NS | July 31, 2026 | N-PORT |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.03% | 56,435 SH | Aug. 19, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.02% | 1,979 SH | Oct. 5, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
VLO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
19 analysts · 2026-10-01Mean target $360.32 -14.1%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VLO | $109.56B | 21.5 | -5.5% | 1.9% | 9.7% | · |
| MPC | · | 12.3 | -4.4% | 3.0% | 23.1% | · |
| PSX | · | 12.0 | -7.5% | 3.3% | 15.6% | · |
| DINO | $10.29B | 15.0 | -6.0% | 2.1% | 6.3% | · |
| PBF | · | -19.5 | -11.4% | -0.54% | -2.9% | · |
| CVI | $2.56B | 94.2 | -5.9% | 0.38% | 3.8% | · |
| CLMT | $1.72B | -50.9 | -1.2% | -0.82% | 3.9% | 5.9% |
| DK | $2.29B | -78.1 | -9.5% | -0.21% | -5.4% | · |
| PARR | · | 4.9 | -6.4% | 5.0% | 27.8% | · |
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