Valero Energy Corporation (VLO)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	129,810,000	134,468,000	140,020,000	140,066,000	144,766,000	151,098,000	157,148,000	174,280,000	176,383,000	170,540,000	155,606,000	131,713,000	113,977,000	94,678,000	80,967,000	63,616,000	64,912,000	76,187,000	87,627,000	106,163,000
Property, plant and equipment	US$ in thousands	—	—	—	—	—	30,253,000	30,570,000	30,780,000	32,092,000	30,508,000	30,754,000	30,876,000	32,131,000	30,440,000	30,461,000	30,379,000	31,593,000	30,729,000	30,653,000	30,526,000
Fixed asset turnover		—	—	—	—	—	4.99	5.14	5.66	5.50	5.59	5.06	4.27	3.55	3.11	2.66	2.09	2.05	2.48	2.86	3.48

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $129,810,000K ÷ $—K
= —

Fixed asset turnover is a financial ratio that measures a company's ability to generate sales from its investment in fixed assets, such as property, plant, and equipment. In the case of Valero Energy Corporation, the trend of fixed asset turnover from March 31, 2020, to December 31, 2023, shows fluctuations over time.

Initially, the fixed asset turnover ratio was 3.48 on March 31, 2020, indicating that Valero was generating $3.48 in sales for every dollar invested in fixed assets. The ratio decreased to 2.05 by December 31, 2020, which suggests a decline in the efficiency of utilizing fixed assets to generate revenue.

After a period of decline, the company's fixed asset turnover started to improve, reaching 5.66 by March 31, 2023. This indicates that Valero was able to generate $5.66 in sales for every dollar invested in fixed assets, showing significant improvement in asset utilization efficiency.

The ratio remained relatively stable but slightly declined to 5.14 by June 30, 2023, and further decreased to 4.99 by September 30, 2023. This may indicate a potential slowdown in sales relative to fixed asset investments during this period.

It is worth noting that the fixed asset turnover data for the latter half of 2024 is not available in the provided dataset. Without this information, it is challenging to assess the most recent trend in Valero's fixed asset turnover and how the company's asset utilization efficiency may have evolved beyond September 30, 2023.

Overall, the analysis of Valero Energy Corporation's fixed asset turnover ratio reveals fluctuations in the company's efficiency in utilizing fixed assets to generate sales over the period covered in the dataset.