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PBF Energy vs Valero Energy: revenue, profit, margins and growth compared

PBF Energy brought in $29.3B of revenue in fiscal 2025, Valero Energy $122.7B in fiscal 2025. Revenue changed by -11.4% at PBF Energy and -5.5% at Valero Energy on the year before, so Valero Energy grew faster. PBF Energy kept -0.5% of its revenue as net profit, Valero Energy 1.9%.

Side by side, latest fiscal year

PBFVLO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$29.3B$122.7B
Revenue growth-11.4%-5.5%
Net income-$158.5M$2.3B
Net margin-0.5%1.9%
Free cash flow-$783.2Mn/a
Free cash flow margin-2.7%n/a
Earnings per share (diluted)-$1.39$7.57
Cash$527.9M$4.7B
Debt$2.1B$8.3B
Price to earningsn/a51.1
Market value$8.7B$111.5B
Dividend yieldn/a1.17%
Rank by revenue in sector#11 of 129 · Energy#5 of 129 · Energy

Over the years

Revenue
PBF FY2018: $27.2BPBF FY2019: $24.5BPBF FY2020: $15.1BPBF FY2021: $27.3BPBF FY2022: $46.8BPBF FY2023: $38.3BPBF FY2024: $33.1BPBF FY2025: $29.3BVLO FY2018: $117BVLO FY2019: $108.3BVLO FY2020: $64.9BVLO FY2021: $114BVLO FY2022: $176.4BVLO FY2023: $144.8BVLO FY2024: $129.9BVLO FY2025: $122.7BFY18FY19FY20FY21FY22FY23FY24FY25
PBF $29.3BVLO $122.7B
Net income
PBF FY2018: $128.3MPBF FY2019: $319.4MPBF FY2020: -$1.4BPBF FY2021: $231MPBF FY2022: $2.9BPBF FY2023: $2.1BPBF FY2024: -$533.8MPBF FY2025: -$158.5MVLO FY2018: $3.1BVLO FY2019: $2.4BVLO FY2020: -$1.4BVLO FY2021: $930MVLO FY2022: $11.5BVLO FY2023: $8.8BVLO FY2024: $2.8BVLO FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
PBF -$158.5MVLO $2.3B
Net margin
PBF FY2018: 0.5%PBF FY2019: 1.3%PBF FY2020: -9.2%PBF FY2021: 0.8%PBF FY2022: 6.1%PBF FY2023: 5.6%PBF FY2024: -1.6%PBF FY2025: -0.5%VLO FY2018: 2.7%VLO FY2019: 2.2%VLO FY2020: -2.2%VLO FY2021: 0.8%VLO FY2022: 6.5%VLO FY2023: 6.1%VLO FY2024: 2.1%VLO FY2025: 1.9%FY18FY19FY20FY21FY22FY23FY24FY25
PBF -0.5%VLO 1.9%
Revenue growth
PBF FY2019: -9.9%PBF FY2020: -38.3%PBF FY2021: +80.3%PBF FY2022: +71.8%PBF FY2023: -18.2%PBF FY2024: -13.6%PBF FY2025: -11.4%VLO FY2019: -7.4%VLO FY2020: -40.1%VLO FY2021: +75.6%VLO FY2022: +54.8%VLO FY2023: -17.9%VLO FY2024: -10.3%VLO FY2025: -5.5%FY19FY20FY21FY22FY23FY24FY25
PBF -11.4%VLO -5.5%
Free cash flow
PBF FY2018: $520.5MPBF FY2019: $528.6MPBF FY2020: -$827.8MPBF FY2021: $228.2MPBF FY2022: $4.1BPBF FY2023: $678.9MPBF FY2024: -$347.5MPBF FY2025: -$783.2MVLO FY2018: $995MVLO FY2019: $2.7BVLO FY2020: -$1.5BVLO FY2021: $3.4BVLO FY2022: $9.8BVLO FY2023: $7.3BVLO FY2024: $4.6BFY18FY19FY20FY21FY22FY23FY24FY25
PBF -$783.2MVLO $4.6B

Fiscal years as each company reports them; the two may end in different months.

Questions about PBF Energy and Valero Energy

Which is bigger by revenue, PBF Energy or Valero Energy?

Valero Energy is bigger by revenue: $122.7B in fiscal 2025, against $29.3B for PBF Energy in fiscal 2025.

Which keeps more of its revenue as profit, PBF Energy or Valero Energy?

PBF Energy had a net margin of -0.5% in fiscal 2025; Valero Energy had 1.9% in fiscal 2025.

Which grew revenue faster, PBF Energy or Valero Energy?

In their latest fiscal years revenue changed by -11.4% at PBF Energy and -5.5% at Valero Energy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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