VALERO ENERGY CORP/TX vs Exxon Mobil Corporation, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both balance sheets are near-pristine, Valero at 0.04 turns of debt and ExxonMobil at 0.06, so the pair reduces to scope: Valero is a pure refiner, Exxon the integrated giant at seven times the market value, $573B against $77B. Valero earns the higher return on equity, 15.6% against 9.7%, and per asset dollar leads too, 6.8% against 5.5%, the focused refiner out-returning the colossus in a soft integrated year. Exxon pays the bigger dividend, 2.9% against 1.7%, and offers diversification Valero cannot. The multiples split, 19 times Valero against 23 Exxon. Valero is the cheaper, higher-returning specialist; Exxon the diversified anchor whose premium rests on reserves and scale it alone commands.
Comparison updated 2026-07-11.
| Metric | VLO | XOM |
|---|---|---|
| Price | $259.41 | $136.40 |
| Market cap | $77.3B | $573.2B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +9.4% | +1.4% |
| P/E | 18.9 | 23.0 |
| P/B | 2.87 | 2.20 |
| P/S | 0.62 | 1.71 |
| EV/EBITDA | 8.9 | 21.4 |
| Revenue growth | -2.4% | -4.2% |
| Operating margin | 5.3% | — |
| Net margin | 3.4% | 7.6% |
| Return on equity | 15.6% | 9.7% |
| Return on assets | 6.8% | 5.5% |
| Return on invested capital | 15.9% | — |
| FCF yield | 7.0% | 3.3% |
| Dividend yield | 1.7% | 2.9% |
| Debt / equity | 0.04 | 0.06 |
| Current ratio | 1.58 | 1.04 |
| Altman Z (solvency) | 9.40 | 3.87 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.