Valero Energy Corporation (VLO)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	8,835,000	10,746,000	10,941,000	13,690,000	11,528,000	9,424,000	7,070,000	2,539,000	930,000	-438,000	-1,365,000	-274,000	-1,421,000	-2,000	1,071,000	430,000	2,422,000	2,314,000	2,561,000	2,794,000
Total stockholders’ equity	US$ in thousands	26,346,000	25,975,000	25,851,000	24,977,000	23,561,000	21,912,000	20,969,000	18,821,000	18,430,000	17,476,000	17,651,000	17,801,000	18,801,000	19,223,000	19,847,000	18,842,000	21,803,000	21,107,000	21,345,000	21,309,000
ROE		33.53%	41.37%	42.32%	54.81%	48.93%	43.01%	33.72%	13.49%	5.05%	-2.51%	-7.73%	-1.54%	-7.56%	-0.01%	5.40%	2.28%	11.11%	10.96%	12.00%	13.11%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $8,835,000K ÷ $26,346,000K
= 33.53%

Valero Energy Corp.'s return on equity (ROE) has shown fluctuations in recent quarters. In Q4 2023, the ROE stood at 33.43%, representing a decrease from the previous quarter but remaining at a relatively healthy level. The company experienced a notable decrease in ROE in Q1 2023 compared to Q4 2022 when it was at a high of 54.61%. Subsequently, there was a rebound in Q2 and Q3 2023, with ROE values of 42.17% and 41.23%, respectively.

Comparing the ROE figures to the same quarters in the previous year, Valero Energy Corp. has shown consistent improvement. In Q4 2023, the ROE was significantly higher than in Q4 2022, indicating positive performance in generating profits relative to shareholders' equity. The company achieved the highest ROE in the given period in Q1 2023 at 54.61%, showcasing strong profitability during that quarter.

Overall, while Valero Energy Corp.'s ROE has displayed variability in recent quarters, the company has generally maintained a solid return on equity, with a positive trend observed throughout the periods analyzed. It is essential for the company to continue monitoring and managing its financial performance effectively to sustain and enhance its profitability and shareholder value in the future.