Valero Energy Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Valero Energy Corporation (VLO). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Refining [Member] | $60.84B 93.7% | $106.95B 93.8% · +75.8% | $168.15B 95.3% · +57.2% | $136.47B 94.3% · -18.8% | $123.85B 95.4% · -9.2% | $116.16B 94.7% · -6.2% |
| Ethanol [Member] | $3.02B 4.6% | $5.16B 4.5% · +70.9% | $4.75B 2.7% · -8.0% | $4.47B 3.1% · -5.8% | $3.62B 2.8% · -19.1% | $4.02B 3.3% · +11.1% |
| Renewable Diesel [Member] | $1.06B 1.6% | $1.87B 1.6% · +77.6% | $3.48B 2.0% · +85.9% | $3.82B 2.6% · +9.8% | $2.41B 1.9% · -37.0% | $2.51B 2.0% · +4.1% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| U.S. [Member] | $45.17B 69.6% | $82.94B 72.8% · +83.6% | $126.72B 71.8% · +52.8% | $104.21B 72.0% · -17.8% | $93.31B 71.8% · -10.5% | $87.82B 71.6% · -5.9% |
| U.K. and Ireland [Member] | – | $13.31B 11.7% | $17.82B 10.1% · +33.9% | $16.15B 11.2% · -9.4% | $15.24B 11.7% · -5.6% | $15.83B 12.9% · +3.9% |
| Canada [Member] | $4.29B 6.6% | $6.60B 5.8% · +53.6% | $11.74B 6.7% · +78.0% | $10.11B 7.0% · -13.9% | $8.58B 6.6% · -15.1% | $8.14B 6.6% · -5.1% |
| Other Countries [Member] | $6.18B 9.5% | $7.28B 6.4% · +17.8% | $11.70B 6.6% · +60.8% | $7.87B 5.4% · -32.8% | $7.35B 5.7% · -6.5% | $5.73B 4.7% · -22.0% |
| Mexico and Peru [Member] | – | $3.86B 3.4% | $8.40B 4.8% · +117.8% | $6.44B 4.4% · -23.3% | $5.41B 4.2% · -16.0% | $5.17B 4.2% · -4.4% |
| U.K. and Ireland [Member] | $9.27B 14.3% | – | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.