Flagship explainer

What drives VALERO ENERGY CORP/TX’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity10%Tax burden78%net income ÷ pretax incomeInterest burden94%pretax ÷ operating incomeOperating margin3%operating income ÷ revenueAsset turnover2.08×revenue ÷ average assetsEquity multiplier2.45×average assets ÷ average equityAs of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$2.3BFY2025
Income before tax$3.0BFY2025
Operating income$3.2BFY2025
$122.7BFY2025
Ending assets$58.0BFY2025
Beginning assets$60.1BFY2024
$23.7BFY2025
$24.5BFY2024
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
Embed this chart

View the full VALERO ENERGY CORP/TX analysis at Buy Like Buffett