Valero Energy Corporation (VLO)
Energy · Oil & Gas Refining & Marketing · Data as of 2026-10-22
Bottom line
VLO is trading at a premium to its history, in the middle of its recent price range, and recent volume suggests money flowing in. The picture is mixed, so it may be worth watching rather than acting on. Past patterns are not a guarantee of future results.
Valuation — Expensive against its own asset value (Red)
VLO is in a cyclical industry, where earnings swing with the economy, so we compare its price-to-book of 3.9× with its own typical level (1.7×). Note: its P/E (9.6×) is far below its mid-cycle norm (14×) — for cyclical companies that often means earnings are at a peak, not that the stock is cheap. Its current multiple sits around the 53rd percentile of its own last five years — around the middle of its own range.
Quality check: debt-to-equity of 1.1× runs well above the 0.4× median of the peers we track — leverage cuts both ways across a cycle.
Price zones — In the middle of its recent range (Yellow)
At $426.28, the stock sits between its recent support and resistance levels. Over the past year VLO has traded between $156.26 and $461.52; its historical support zone sits near $390.88 and resistance near $461.52. It is above both its 50- and 200-day averages, which has historically signalled an uptrend.
52-week range $156.26–$461.52 · 50-day average $390.88 · 200-day average $279.22
Money flow — Money is flowing in (Green)
Recent trading in VLO shows more volume on rising days than falling days, a pattern often described as accumulation. Volume on up days has been about 1.3× volume on down days over the last 30 sessions.
Dividends & company facts
VLO paid $4.73 a share in dividends over the past year — 1.1% of today's price — and raised it 4 times in the last five years. It returned more through buybacks: $2.6 billion in fiscal 2025, about 2.1% of its market value.
- Dividend yield (12 months)
- 1.11%
- Paid over 12 months
- $4.73 a share
- Payout ratio
- 10.9%
- Buybacks
- 2.12% (fiscal 2025)
- Shares, past year
- -7.8%
- Revenue, 12 months
- $146.9B
- Profit, 12 months
- $12.9B
- Employees
- 9,785
- CEO
- R. Lane Riggs
- Headquarters
- San Antonio, TX
- Listed since
- 1982 · NYSE
About the company
Valero Energy Corporation functions as a global producer and marketer of transportation fuels and petrochemicals, with operations spanning the United States, Canada, the United Kingdom, Ireland, and other international territories. The company organizes its business across three primary divisions: Refining, Renewable Diesel, and Ethanol. Its Refining segment generates a wide array of products, including various types of gasoline (conventional, premium, reformulated, and California Air Resources Board-compliant), diverse diesel fuels (low-sulfur, ultra-low-sulfur, and CARB diesel), jet fuels,…
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一句话结论
VLO 相对自身历史处于溢价水平，处于近期价格区间的中部，近期成交量显示资金正在流入。整体情况好坏参半，也许更适合先观察，而不是急于行动。过去的形态并不能保证未来的结果。
估值 — 相对自身资产价值偏高
VLO 所在的行业具有周期性，盈利会随经济起伏，因此我们把它 3.9× 的市净率与其自身惯常的水平（1.7×）作比较。需要注意：它的市盈率（9.6×）远低于其中周期的常态水平（14×）——对周期性公司来说，这往往意味着盈利正处在高点，而不是股票便宜。它当前的估值倍数大约位于自身过去五年分布的第 53 百分位——处于自身区间的中部。
质量核对：1.1×的债务股本比明显高于我们追踪的同行 0.4×的中位数——在周期中，杠杆是双刃剑。
价格区间 — 处于近期区间的中部
目前价格为 $426.28，位于其近期的支撑位与阻力位之间。过去一年 VLO 的价格在 $156.26 到 $461.52 之间波动；其历史支撑区在 $390.88 附近，阻力区在 $461.52 附近。它同时位于 50 日和 200 日均线上方，这在历史上通常对应上升趋势。
资金流向 — 资金正在流入
VLO 近期上涨日的成交量高于下跌日，这种形态常被称为吸筹。过去 30 个交易日，上涨日的成交量约为下跌日的 1.3×。
股息与公司概况
VLO 过去一年每股派息 4.73 美元，相当于当前股价的 1.1%，过去五年上调过 4 次。它通过回购返还了更多：2025 财年回购 26.0亿美元，约占市值的 2.1%。
UnderTheLight 用直白的语言解释股票——估值、价格区间与资金流向。它只描述数据，不构成任何投资建议。
UnderTheLight explains stocks in plain English — valuation, price zones and money flow as traffic lights, recomputed nightly. It describes data; it is not investment advice and never recommends a trade.