V
VLO
VLOUnverified3 segments tracked|8 years of data|Annual (10-K)
Total Revenue
$122.7B5.5%
FY2025
Operating Segments
3Active segments
Blended Margin
3.5%Operating margin
Highest Margin
9.3%Ethanol
Segment Shift
Ethanol has grown from 2.9% to 3.3% of total revenue since FY2018, with 9.3% operating margins.
Segment Revenue Over Time
Revenue Mix
Segment Breakdown — FY2025
| Segment | Revenue | Op. Income | Margin | % of Total | YoY |
|---|---|---|---|---|---|
| Refining | $116.2B | $4.0B | 3.5% | 94.7% | -6.2% |
| Ethanol | $4.0B | $374M | 9.3% | 3.3% | +11.1% |
| Renewable Diesel | $2.5B | $-156M | -6.2% | 2.0% | +4.1% |
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