Valero Energy Corporation (VLO)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 26,346,000 | 23,561,000 | 18,430,000 | 18,801,000 | 21,803,000 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $26,346,000K
= 0.00
The debt-to-equity ratio of Valero Energy Corp. has exhibited fluctuations over the past five years. The ratio decreased from 0.78 in 2020 to 0.44 in 2019, indicating a reduction in the company's reliance on debt relative to equity. However, this downward trend reversed in 2021 when the ratio increased to 0.75, suggesting a higher proportion of debt in the company's capital structure. In 2022, the ratio slightly increased to 0.49 before decreasing again to 0.44 in 2023.
Overall, the debt-to-equity ratio of Valero Energy Corp. has been relatively stable over the five-year period, with the company maintaining a moderate level of debt compared to equity. This indicates a balanced approach to capital structure management, ensuring a mix of debt and equity financing to support operations and growth initiatives. Further analysis of the company's financial health and performance metrics would be necessary to fully assess the implications of these debt-to-equity ratio fluctuations.
Peer comparison
Dec 31, 2023