Valero Energy (VLO) Operating Expenses (2009 - 2026)
Valero Energy's Operating Expenses was $266 million in Q2 2026, down 16.9% from $320 million a year earlier and down 30.9% from the prior quarter.
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Analysis
Valero Energy (VLO) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Valero Energy's Operating Expenses was $3.41 billion through Jun 30, 2026, up 215.6% year-over-year; for FY2025, it came in at $3.34 billion, up 16.8% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 7.2% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $2.86 billion in FY2024 (-1.3%), $2.9 billion in FY2023 (+10.0%), $2.63 billion in FY2022 (+2.7%) and $2.57 billion in FY2021 (+8.9%).
- The Q2 2026 figure marks the lowest quarterly Operating Expenses since Q1 2025.
- Compared with a year earlier, Operating Expenses was higher in five of the last eight quarters, with growth averaging 116.1%.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2025 (growth of 807.9%); the worst was Q4 2022 (a decline of 85.4%).
- Per Business Quant data, VLO's Operating Expenses in the three quarters before Q2 2026 was $385 million (Q1 2026), $2.42 billion (Q4 2025) and $346 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Valero Energy | 112.13 Bn | 92.34 Bn | 5.47 Bn | 266.00 Mn |
| 2 | Marathon Petroleum | 109.39 Bn | 99.79 Bn | 9.27 Bn | 45.02 Bn |
| 3 | HF Sinclair | 18.88 Bn | 13.11 Bn | 1.57 Bn | 9.22 Bn |
| 4 | Sunoco | 10.20 Bn | 4.58 Bn | 1.46 Bn | 13.68 Bn |
| 5 | PBF Energy | 8.88 Bn | 6.58 Bn | 1.15 Bn | 10.41 Bn |
| 6 | Ultrapar Holdings | 7.63 Bn | 1.41 Bn | 912.61 Mn | -124.47 Mn |
| 7 | Cvr Energy | 5.10 Bn | 2.89 Bn | 117.00 Mn | 52.00 Mn |
| 8 | Icahn Enterprises | 4.88 Bn | -880.12 Mn | - | 3.36 Bn |
| 9 | Delek US Holdings | 4.13 Bn | 1.86 Bn | 365.10 Mn | 3.78 Bn |
| 10 | Par Pacific Holdings | 3.91 Bn | 3.26 Bn | 852.68 Mn | 2.33 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 266.00 Mn |
| Mar 31, 2026 | 385.00 Mn |
| Dec 31, 2025 | 2.42 Bn |
| Sep 30, 2025 | 346.00 Mn |
| Jun 30, 2025 | 320.00 Mn |
| Mar 31, 2025 | 261.00 Mn |
| Dec 31, 2024 | 266.00 Mn |
| Sep 30, 2024 | 234.00 Mn |
| Jun 30, 2024 | 203.00 Mn |
| Mar 31, 2024 | 258.00 Mn |
| Dec 31, 2023 | 295.00 Mn |
| Sep 30, 2023 | 250.00 Mn |
| Jun 30, 2023 | 209.00 Mn |
| Mar 31, 2023 | 244.00 Mn |
| Dec 31, 2022 | 282.00 Mn |
| Sep 30, 2022 | 214.00 Mn |
| Jun 30, 2022 | 233.00 Mn |
| Mar 31, 2022 | 205.00 Mn |
| Dec 31, 2021 | 1.94 Bn |
| Sep 30, 2021 | 243.00 Mn |
API Access
Valero Energy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VLO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VLO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VLO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();