Valero Energy Corporation (VLO)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 12,382,000 | 16,277,000 | 2,402,000 | -740,000 | 4,778,000 |
| Revenue | US$ in thousands | 144,216,000 | 175,864,000 | 113,250,000 | 64,912,000 | 108,324,000 |
| Gross profit margin | 8.59% | 9.26% | 2.12% | -1.14% | 4.41% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $12,382,000K ÷ $144,216,000K
= 8.59%
The gross profit margin of Valero Energy Corp. has shown a general increasing trend over the past five years, from 10.94% in 2019 to 14.98% in 2023. This indicates that the company has been able to improve its efficiency in generating profit from its core business operations over this period. The significant improvement in gross profit margin from 2021 (9.88%) to 2022 (14.52%) demonstrates a notable positive impact on profitability. Overall, the upward trend in the gross profit margin suggests that Valero Energy Corp. has been effectively managing its production and cost control measures in recent years.
Peer comparison
Dec 31, 2023