Valero Energy (VLO) Operating Margin (2009 - 2026)
Valero Energy (VLO) recorded Operating Margin of 11.68% in Q2 2026, up 8.35 percentage points from 3.34% a year earlier and up 6.34 percentage points from the prior quarter.
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Analysis
Valero Energy (VLO) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Valero Energy's Operating Margin came in at 7.18% as of Jun 30, 2026, up 6.41 percentage points year-over-year; for FY2025, it was 2.59%, down 0.30 percentage points from FY2024.
- Annual Operating Margin has declined for three straight years, though with a five-year change of +5.03 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 2.89% in FY2024 (-5.30 pp), 8.19% in FY2023 (-0.70 pp), 8.90% in FY2022 (+7.03 pp) and 1.87% in FY2021 (+4.30 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin since Q2 2022.
- On a year-over-year basis, Operating Margin has increased for four consecutive quarters, with an average year-over-year change of +0.57 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 10.21 percentage points in Q2 2022, against a drop of 8.26 percentage points in Q1 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 5.35% (Q1 2026), 5.19% (Q4 2025) and 4.69% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marathon Petroleum | 137.97 Bn | 121.73 Bn | 9.27 Bn | 13.99% |
| 2 | Valero Energy | 134.23 Bn | 111.17 Bn | 5.47 Bn | 11.68% |
| 3 | HF Sinclair | 23.03 Bn | 17.20 Bn | 1.57 Bn | 11.24% |
| 4 | PBF Energy | 10.79 Bn | 8.35 Bn | 1.15 Bn | 10.89% |
| 5 | Sunoco | 10.43 Bn | 4.80 Bn | 1.46 Bn | 4.09% |
| 6 | Ultrapar Holdings | 8.35 Bn | 1.76 Bn | 912.61 Mn | 7.25% |
| 7 | Cvr Energy | 6.36 Bn | 3.93 Bn | 117.00 Mn | 2.85% |
| 8 | Delek US Holdings | 4.96 Bn | 2.45 Bn | 365.10 Mn | 7.40% |
| 9 | Icahn Enterprises | 4.49 Bn | -1.27 Bn | - | - |
| 10 | Par Pacific Holdings | 4.36 Bn | 3.68 Bn | 852.68 Mn | 21.37% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.68% |
| Mar 31, 2026 | 5.35% |
| Dec 31, 2025 | 5.19% |
| Sep 30, 2025 | 4.69% |
| Jun 30, 2025 | 3.34% |
| Mar 31, 2025 | -2.97% |
| Dec 31, 2024 | 1.13% |
| Sep 30, 2024 | 1.54% |
| Jun 30, 2024 | 3.54% |
| Mar 31, 2024 | 5.29% |
| Dec 31, 2023 | 4.39% |
| Sep 30, 2023 | 9.12% |
| Jun 30, 2023 | 8.00% |
| Mar 31, 2023 | 11.10% |
| Dec 31, 2022 | 10.29% |
| Sep 30, 2022 | 8.53% |
| Jun 30, 2022 | 12.04% |
| Mar 31, 2022 | 3.59% |
| Dec 31, 2021 | 4.44% |
| Sep 30, 2021 | 2.35% |
API Access
Valero Energy Operating Margin 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-margin&ticker=VLO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=VLO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();