Valero Energy Corporation (VLO)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	4,613,000	5,858,000	8,897,000	10,528,000	12,889,000	15,690,000	15,943,000	19,440,000	16,751,000	13,985,000	10,880,000	5,110,000	3,082,000	943,000	-374,000	890,000	-788,000	1,442,000	2,960,000	2,108,000
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
Gross profit margin		3.55%	4.36%	6.35%	7.52%	8.90%	10.38%	10.15%	11.15%	9.50%	8.20%	6.99%	3.88%	2.70%	1.00%	-0.46%	1.40%	-1.21%	1.89%	3.38%	1.99%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $4,613,000K ÷ $129,810,000K
= 3.55%

Valero Energy Corporation's gross profit margin has displayed fluctuating trends over the past few years. It started at a relatively low level of 1.99% as of March 31, 2020, improved to 3.38% by June 30, 2020, but then declined to 1.89% by September 30, 2020. The margin turned negative at -1.21% by the end of December 31, 2020, indicating a loss on sales.

However, the company managed to recover gradually, with the gross profit margin increasing to 1.40% as of March 31, 2021. Nonetheless, it again dipped into the negative territory at -0.46% by June 30, 2021. Valero Energy Corporation then saw a series of improvements in gross profit margin, reaching 9.50% by December 31, 2022.

Over the subsequent quarters, the gross profit margin remained relatively stable, fluctuating between 7.52% as of March 31, 2023, and 3.55% as of December 31, 2024. Despite the fluctuations, the overall increasing trend in the company's gross profit margin from 2020 to 2023 indicates an improvement in its ability to generate profits from its core business operations.