Valero Energy Corporation (VLO)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 144,216,000 | 175,864,000 | 113,250,000 | 64,912,000 | 108,324,000 |
| Total current assets | US$ in thousands | 26,221,000 | 24,133,000 | 21,165,000 | 15,844,000 | 18,969,000 |
| Total current liabilities | US$ in thousands | 16,802,000 | 17,461,000 | 16,851,000 | 9,283,000 | 13,160,000 |
| Working capital turnover | 15.31 | 26.36 | 26.25 | 9.89 | 18.65 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $144,216,000K ÷ ($26,221,000K – $16,802,000K)
= 15.31
The working capital turnover of Valero Energy Corp. has fluctuated over the past five years, ranging from a low of 9.89 in 2020 to a high of 26.44 in 2022. In 2023, it stood at 15.37. This metric indicates how efficiently the company is utilizing its working capital to generate revenue. A higher turnover ratio suggests that the company is effectively using its current assets to generate sales, while a lower ratio may indicate inefficiencies or excess working capital tied up in the business. Valero Energy Corp. has shown some variations in its working capital turnover in recent years, and further analysis would be needed to understand the underlying reasons behind these fluctuations.
Peer comparison
Dec 31, 2023