Valero Energy is an independent refinery operator from Texas. The company processes crude oil into gasoline, diesel and jet fuel and produces ethanol and renewable diesel. Its refineries are in the US, Canada and the UK. As of Oct 13, 2026
Valero, based in San Antonio, Texas, makes and markets petroleum-based and low-carbon liquid fuels as well as petrochemical products. The products are sold mainly in the United States, Canada, the United Kingdom, Ireland and Latin America. Its segments are called Refining, Renewable Diesel and Ethanol, and the petroleum refineries are in the United States, Canada and the United Kingdom. Renewable diesel is produced by the joint venture DGD with Darling Ingredients on the Gulf Coast, and ethanol comes from its own plants in the Mid-Continent region. Most of the volumes loaded at the terminals go through unbranded channels, and branded stations carry names such as Valero and Ultramar.
Automatically summarized from SEC annual report (10-K, filed Feb 25, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
In the buy zone
The price is in the pullback area after the last rise – the area our Elliott rule watches as the buy zone.
As of: Close of the 4-hour candle Oct 27, 2026, 18:30 · Buy zone in the trade plan · An observation, not investment advice
Rule (4-hour candles) Zone valid since Oct 20, 2026 · last changed on Oct 27, 2026 Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Watcher Full history: every change of the buy zone with its date.
Weekly candles (1W) No entry in the zone history yet (recording since Oct 12, 2026). Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Timeframe 1 week · As of Oct 23, 2026 · display only, the rule works on 4-hour candles
Elliott count: Zigzag (A-B-C), Corrective pattern (upward), C in progress (3 of 3 guidelines) · B = 39% of A; C = 159% of A
Alternative (not drawn): Impulse (W3 extended), Impulse pattern (upward), Wave 4 complete (3 of 5 guidelines)
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed weekly candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 day · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Double zigzag (W-X-Y), Corrective pattern (upward), Y complete (1 of 3 guidelines) · X = 29% of W; Y = 52% of W
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart.
Comparison: The rule treats the last rise as the possible start of an upward impulse (without checking its history and structure). The Elliott count reads it as the end of an upward correction (Y).
Note: Structure ambiguous: leg Y can also be read as three- or five-part.
Note: Structure open: leg X cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed daily candles; the chart is recalculated every day. Not investment advice. On this timeframe the chart only shows the rule setup (swing detection 3 × ATR) – the rule itself works on 4-hour candles. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 4 hours · As of Oct 27, 2026
Elliott count: Combination (W-X-Y), Corrective pattern (upward), Y complete (1 of 3 guidelines) · X = 29% of W; Y = 52% of W
Comparison: The rule treats the last rise as the possible start of an upward impulse (without checking its history and structure). The Elliott count reads it as the end of an upward correction (Y).
Note: Structure ambiguous: leg W, Y can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed 4-hour candles; the chart is recalculated every hour. Not investment advice. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 1 hour · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Nested combination, Corrective pattern (upward), Y complete (1 of 3 guidelines) · X = 27% of W; Y = 41% of W
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart.
Note: Nested: leg W is itself a combination, its X is 79.9% (at most 88.7%).
Note: Nested: leg Y is itself a combination, its X is 76.2% (at most 88.7%).
Note: Structure ambiguous: leg W can also be read as three- or five-part.
Note: Structure open: leg X cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Note: Count questionable: C in progress at 333% (C of A, limit 261.8%).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed hourly candles (recalculated every hour). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 week · As of Oct 23, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 3 guidelines, strong) · Alternative: behind (3 of 5, medium) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the weekly close stays above the end of B, this applies: sharp countermove upward in three waves (Zigzag A-B-C), C in progress – count points to rising prices.
Invalid if the weekly close is below the end of B
If that breaks, the second reading no longer applies either: Upward move in five waves (Impulse, W3 extended), wave 4 complete – then there is no valid count for now; the next candles will produce a new one.
Invalid if the weekly close is below the end of wave 4
Watcher Fibonacci target zones and levels for this count – as a help for your own review – from Watcher.
Timeframe 1 day · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (1 of 3 guidelines, weak) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart. No visible sub-waves in: X.
As long as the daily close stays below the end of Y, this applies: complex countermove upward (Double zigzag W-X-Y), Y complete – count points to falling prices.
Invalid if the daily close is above the end of Y (+14.9% from the top of the zone)
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (1 of 3 guidelines, weak) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the 4-hour close stays below the end of Y, this applies: complex countermove upward (Combination W-X-Y), Y complete – count points to falling prices.
Invalid if the 4-hour close is above the end of Y (+14.9% from the top of the zone)
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Timeframe 1 hour · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (1 of 3 guidelines, weak) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart. No visible sub-waves in: X.
As long as the hourly close stays below the end of Y, this applies: complex countermove upward (Nested combination), Y complete – count points to falling prices.
Invalid if the hourly close is above the end of Y
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
The price pulled back into the buy zone (0 to −4.0% from its top) and last closed in the zone. Rule trigger: after the touch a swing high forms, and a daily close is above it. If the price closes below the start of wave 1 (−9.2%), the setup is void. All percentages: distance from the top of the buy zone.
In the TradingView chart: Draw the buy zone in the chart with the Fibonacci tool (instructions next to the wave chart) or as two horizontal lines (tool “Horizontal Line”). If the price closes below the start of wave 1 (−9.2%), the setup is void – without an entry of the rule.
Exit with a gain
Buy zone – Rule trigger: candle close above the swing high
Exit at a loss
Watcher Target 1, Target 2 and stop for this zone – with distance in percent and reward/risk – are available from Watcher. Plans and pricing Percentages from the top of the buy zone (61.8%) – not a forecast.
Rule-based, long only, 4-hour candles. Not a forecast and not investment advice. Lesson: the buy zone in 4 minutes
Valero Energy · Sector Energy · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 25, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
2.6% Fiscal year 2025
No rank: too few peers or not computed yet.
Operating income divided by revenue: what the core business earns before interest and taxes.
1.9% Fiscal year 2025
No rank: too few peers or not computed yet.
Profit after all costs, interest and taxes divided by revenue.
9.9% Fiscal year 2025
No rank: too few peers or not computed yet.
Net income divided by equity at fiscal year end.
4.0% Fiscal year 2025 (total assets at year end)
No rank: too few peers or not computed yet.
Net income divided by total assets at fiscal year end.
40.9% Fiscal year 2025
No rank: too few peers or not computed yet.
Equity as a share of total assets. Usually low for banks.
−11.4% per year
No rank: too few peers or not computed yet.
Average growth per year over 3 fiscal years.
+13.6% per year
No rank: too few peers or not computed yet.
Average growth per year over 5 fiscal years.
−36.1% per year
No rank: too few peers or not computed yet.
Growth of earnings per share per year, adjusted for stock splits.
−0.5% per year
No rank: too few peers or not computed yet.
Growth of earnings per share per year, adjusted for stock splits.
60% Fiscal year 2025
Dividend per share divided by earnings per share.
+2.9% per year
No rank: too few peers or not computed yet.
Growth of the dividend per share per year.
6 of 9 Fiscal year 2025
No rank: too few peers or not computed yet.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.35 at fiscal year end
No rank: too few peers or not computed yet.
Long-term financial debt divided by equity.
1.65 at fiscal year end
No rank: too few peers or not computed yet.
Current assets divided by current liabilities.
−24.1% in 5 years
No rank: too few peers or not computed yet.
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 122.7B USD · Net income 2.3B USD · Net margin 1.9%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 2.6 USD operating income and 1.9 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 122.7B USD | 100.0% |
| Operating income | 3.2B USD | 2.6% |
| Cost of revenue and operating expenses | 119.5B USD | 97.4% |
| Net income | 2.3B USD | 1.9% |
| Taxes, interest & other | 833.0M USD | 0.7% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from −2.4% to 2.6%.
Operating marginNet marginReturn on equity rose in 5 years from −7.6% to 9.9%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from 36.3% to 40.9%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio fell in 5 years from 1.71 to 1.65.
Current ratioFree cash flow rose within one year from 3.5B USD to 4.1B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count fell in 5 years by 24.1% (mostly through share repurchases).
Diluted share countFor energy companies the gross margin is not meaningful and is therefore omitted.
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
The dividend per share rose in 5 years from 3.92 USD to 4.52 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.The payout ratio fell in 4 years from 172.7% to 59.7%.
Payout ratio (earnings)Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 22 symbols in the Energy sector on our list (current members of the S&P 500 and other lists).
+13.6% per year, last 5 years
Sector Energy: median +14.8% (21 symbols)
What does this mean? Revenue: over 5 years it grew by 13.6% per year on average, but more slowly than the median company in the sector (+14.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
1.9% last fiscal year
Sector Energy: median 11.0% (21 symbols)
What does this mean? Of every 100 USD in revenue, 1.91 USD remained as profit – less than the median company in the sector (11.0%). Five years ago the margin was −2.2%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.42 latest balance sheet
Sector Energy: median 0.35 (13 symbols)
What does this mean? For every 1 USD of equity there is 0.42 USD of financial debt – more than the median company in the sector (0.35). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
60% Dividend / earnings per share
Sector Energy: median 55% (16 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.60 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 55%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
9 of 10 fiscal years with a profit
What does this mean? In 9 of the last 10 fiscal years the bottom line showed a profit. One year ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 122.7B | 2.3B | 1.9% | 7.57 | 4.52 | 60% |
| 2024 | Dec 31, 2024 | 129.9B | 2.8B | 2.1% | 8.58 | 4.28 | 50% |
| 2023 | Dec 31, 2023 | 144.8B | 8.8B | 6.1% | 24.92 | 4.08 | 16% |
| 2022 | Dec 31, 2022 | 176.4B | 11.5B | 6.5% | 29.04 | 3.92 | 13% |
| 2021 | Dec 31, 2021 | 114.0B | 930.0M | 0.8% | 2.27 | 3.92 | 173% |
| 2020 | Dec 31, 2020 | 64.9B | −1.4B | −2.2% | −3.50 | 3.92 | – |
| 2019 | Dec 31, 2019 | 108.3B | 2.4B | 2.2% | 5.84 | 3.60 | 62% |
| 2018 | Dec 31, 2018 | 117.0B | 3.1B | 2.7% | 7.29 | 3.20 | 44% |
| 2017 | Dec 31, 2017 | 94.0B | 4.1B | 4.3% | 9.16 | 2.80 | 31% |
| 2016 | Dec 31, 2016 | 75.7B | 2.3B | 3.0% | 4.94 | 2.40 | 49% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 44.5B | 3.7B | 8.4% | 12.62 | 1.20 | 10% |
| Q1/26 | Mar 31, 2026 | 32.4B | 1.3B | 3.9% | 4.22 | 1.20 | 28% |
| Q4/25* | Dec 31, 2025 | 30.4B | 1.1B | 3.7% | – | 1.13 | – |
| Q3/25 | Sep 30, 2025 | 32.2B | 1.1B | 3.4% | 3.53 | 1.13 | 32% |
| Q2/25 | Jun 30, 2025 | 29.9B | 714.0M | 2.4% | 2.28 | 1.13 | 50% |
| Q1/25 | Mar 31, 2025 | 30.3B | −595.0M | −2.0% | −1.90 | 1.13 | – |
| Q4/24* | Dec 31, 2024 | 30.8B | 281.0M | 0.9% | – | 1.07 | – |
| Q3/24 | Sep 30, 2024 | 32.9B | 364.0M | 1.1% | 1.14 | 1.07 | 94% |
| Q2/24 | Jun 30, 2024 | 34.5B | 880.0M | 2.6% | 2.71 | 1.07 | 39% |
| Q1/24 | Mar 31, 2024 | 31.8B | 1.2B | 3.9% | 3.75 | 1.07 | 29% |
| Q4/23* | Dec 31, 2023 | 35.4B | 1.2B | 3.4% | – | 1.02 | – |
| Q3/23 | Sep 30, 2023 | 38.4B | 2.6B | 6.8% | 7.49 | 1.02 | 14% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $00 people | $0 |
| 6 months | $00 people | $5.7M1 person | −$5.7M |
| 12 months | $00 people | $9.4M2 people | −$9.4M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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