Valero Energy Corporation


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SKU: VLO Category:


This is our first report on energy major, Valero Energy Corporation. The company recently delivered solid financial results as a result of the recovery in its refining segment, which is supported by relatively low product inventories and strong product demand globally. The rationalizations in the refinery capacity contribute to the tightness of the supply. Despite a weak margin environment, the ethanol business generates a positive operating income for Valero. In the upcoming quarters, the renewable diesel project situated in its Port Arthur refinery is going to be operational. For diesel, the product inventories remained low, and less refining capacity is available for replenishing inventories. Navigators and the BlackRock carbon sequestration project are moving as per schedule in the words of the management. Moreover, Valero is continuing to leverage on evaluating low carbon opportunities like carbon sequestration projects, additional renewable naphtha, renewable hydrogen, and sustainable aviation fuel. In the quarter, the company restarted its stock buybacks. We provide the stock of Valero Energy a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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