Valero Energy Corporation (VLO)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	63,056,000	63,175,000	60,667,000	60,177,000	60,982,000	59,329,000	64,345,000	60,402,000	57,888,000	54,691,000	55,456,000	53,614,000	51,774,000	51,732,000	49,099,000	47,747,000	53,864,000	51,229,000	52,022,000	52,095,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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 seen relatively consistent levels over the past eight quarters, ranging from 0.18 to 0.22. This ratio indicates the proportion of the company's assets financed through debt. A lower ratio implies lower financial risk, as a smaller portion of assets is funded by debt.

Valero Energy Corp.'s debt-to-assets ratio has remained relatively stable around 0.18 to 0.22. This suggests that the company has maintained a conservative level of debt relative to its total assets. However, the slight increase in the ratio from 0.18 in Q4 2023 to 0.22 in Q1 2022 may indicate a slightly higher reliance on debt financing during that period.

Overall, the company's debt-to-assets ratio reflects a balanced approach to leveraging its assets with debt, although monitoring any significant changes in this ratio over time can provide insights into the company's financial health and risk management strategies.