VLO · Business segments
Valero (VLO) revenue by segment
Where Valero’s revenue comes from, as reported in its SEC filings.
Latest quarter: September 30, 2026
Total revenue on the income statement: $46.1B.
Revenue by Segment
| Line | Revenue | Share | Operating income | Margin |
|---|---|---|---|---|
| Refining | $44.37B | 96.2% | $8.78B | 19.8% |
| Ethanol | $1.06B | 2.3% | $272M | 25.5% |
| Renewable Diesel | $664M | 1.4% | $353M | 53.2% |
Latest year: December 31, 2025
Total revenue on the income statement: $122.69B.
Revenue by Geography
| Line | Revenue | Share |
|---|---|---|
| United States | $87.82B | 71.6% |
| United Kingdom and Ireland | $15.83B | 12.9% |
| Canada | $8.14B | 6.6% |
| Other Countries | $5.73B | 4.7% |
| Mexico and Peru | $5.17B | 4.2% |
Revenue by Segment
| Line | Revenue | Share | Operating income | Margin |
|---|---|---|---|---|
| Refining | $116.16B | 94.7% | $4.04B | 3.5% |
| Ethanol | $4.02B | 3.3% | $374M | 9.3% |
| Renewable Diesel | $2.51B | 2.0% | −$156M | -6.2% |
Reading notes
Share is each line’s part of that breakdown. Margin is the company’s reported segment operating income divided by that segment’s revenue. Companies define segment profit differently and may re-cut segments over time, so a company’s lines can differ between years. Breakdowns that do not add up to within 5% of reported revenue are left out.