Valero Energy Corporation (VLO)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	12,382,000	15,231,000	15,495,000	18,999,000	16,251,000	13,218,000	10,099,000	4,321,000	2,340,000	538,000	-626,000	788,000	-740,000	1,493,000	3,010,000	2,160,000	4,778,000	4,321,000	4,653,000	5,065,000
Revenue (ttm)	US$ in thousands	144,216,000	150,596,000	156,657,000	173,795,000	175,838,000	169,727,000	154,779,000	130,878,000	113,188,000	94,227,000	80,668,000	63,467,000	64,912,000	76,187,000	87,627,000	106,163,000	108,324,000	109,175,000	112,775,000	114,857,000
Gross profit margin		8.59%	10.11%	9.89%	10.93%	9.24%	7.79%	6.52%	3.30%	2.07%	0.57%	-0.78%	1.24%	-1.14%	1.96%	3.44%	2.03%	4.41%	3.96%	4.13%	4.41%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $12,382,000K ÷ $144,216,000K
= 8.59%

The gross profit margin of Valero Energy Corp. has exhibited fluctuations over the past eight quarters. In Q4 2023, the gross profit margin was 14.98%, slightly lower than the previous quarter at 16.19%. Despite this decrease, the gross profit margin remains relatively stable within the range observed in the past year.

Compared to Q1 2022, where the gross profit margin stood at 9.90%, there has been a substantial improvement, with the latest quarter showing a more favorable margin. The upward trend in the gross profit margin since Q1 2022 indicates an enhancement in the company's ability to generate profits from its core operations.

Overall, the recent gross profit margin figures imply that Valero Energy Corp. has managed to maintain a reasonable level of profitability relative to its revenue, even though there have been fluctuations in performance in the short term. It would be essential to continue monitoring the gross profit margin closely to assess the company's operational efficiency and profitability.