Valero Energy Corporation (VLO)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 63,056,000 | 60,982,000 | 57,888,000 | 51,774,000 | 53,864,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $63,056,000K
= 0.00
The debt-to-assets ratio of Valero Energy Corp. has shown a decreasing trend over the past five years, indicating an improvement in the company's financial leverage and risk profile. The ratio decreased from 0.28 in 2020 to 0.18 in 2019, remained stable in 2019, and then increased slightly to 0.19 in 2022 before declining again to 0.18 in 2023. This suggests that Valero Energy Corp. has been effectively managing its debt levels in relation to its total assets during the period under review. A lower debt-to-assets ratio implies that the company relies less on debt financing and has a stronger asset base to support its operations and investments. Overall, the decreasing trend in the debt-to-assets ratio reflects a positive financial performance and a prudent approach to managing the company's capital structure.
Peer comparison
Dec 31, 2023