Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 Valero’s balance sheet shows a net strengthening in capitalization. Total assets rose from $57,888m in 2021 to a peak of $63,056m in 2023 (+8.9%), then eased to $60,143m in 2024 (−4.6% from the peak). Total liabilities moved steadily lower from $39,458m in 2021 to $35,631m in 2024 (≈−9.7%), suggesting debt repayment or lower operating payables. The combined effect was a marked improvement in the equity base and overall solvency through 2023, with a modest pullback in 2024 as assets declined slightly faster than liabilities. Stockholders’ equity climbed from $18,430m in 2021 to $26,346m in 2023 (+43%), then dipped to $24,512m in 2024 (−6.9% vs. 2023) but remained well above the 2021 level (+33%). Leverage (liabilities/assets) fell from about 68% in 2021 to ~58% in 2023 and was ~59% in 2024, while the equity-to-assets ratio improved from ~32% to ~41% at the 2023 high. For a downstream energy/refining company like Valero, these moves are consistent with post‑pandemic margin recovery and retained earnings boosting equity, and the 2024 asset decline could reflect lower inventory, depreciation, or selective asset sales; note the 2025 row contains zeros and appears to be missing actual data. Overall the balance sheet looks stronger versus 2021, with lower liabilities and a larger equity cushion, albeit with some 2024 normalization.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.