Valero EnergyMEX:VLO 53 ROC (Joel Greenblatt) % is 22.47% as of Mar. 2026, which is 85% above its 10-year median of 12.14. GuruFocus rates MEX:VLO with a GF Score™ of 53/100 and a GF Value™ of MXN2,514.20 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,000 Oil & Gas companies, Valero Energy ranks better than 73.7% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Valero Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 22.47%.
The historical rank and industry rank for Valero Energy's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:VLO'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -4.24 Med: 12.14 Max: 46.91
Current: 18.78
During the past 13 years, Valero Energy's highest ROC (Joel Greenblatt) % was 46.91%. The lowest was -4.24%. And the median was 12.14%.
MEX:VLO's ROC (Joel Greenblatt) % is ranked better than 73.7% of 1000
companies
in the Oil & Gas industry
Industry Median: 8.415
vs MEX:VLO: 18.78
Valero Energy's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Valero Energy (MEX:VLO) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Valero Energy ROC (Joel Greenblatt) % Related Terms
Valero Energy ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Valero Energy's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:VLO vs MPC, PSX, SUN: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Refining & Marketing subindustry, Valero Energy's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Valero Energy ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Valero Energy's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Valero Energy's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 22.47% mean?
Valero Energy (MEX:VLO) has a ROC (Joel Greenblatt) % of 22.47% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Valero Energy and its competitors. This is 85% above median its historical median of 12.14. According to the industry distribution chart, Valero Energy ranks #263 out of 1000 companies in the Oil & Gas industry, placing it in the top 26.3%.
Is Valero Energy's ROC (Joel Greenblatt) % too high?
Valero Energy's current ROC (Joel Greenblatt) % of 22.47% is 85% above median its 10-year median of 12.14. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.42. Valero Energy's value of 22.47% is 167% above this industry median. Based on the distribution chart, Valero Energy ranks #263 out of 1000 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Valero Energy has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Valero Energy's ROC (Joel Greenblatt) % compare to MPC and PSX?
According to the Oil & Gas industry distribution chart, Valero Energy ranks #263 out of 1000 companies for ROC (Joel Greenblatt) %. This puts Valero Energy in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 8.42. Valero Energy's value of 22.47% is 167% above this benchmark. While the company's 10-year median is 12.14 vs. the industry median of 8.42, Valero Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.42, based on 1,000 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Valero Energy's current ROC (Joel Greenblatt) % of 22.47% is 167% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Valero Energy and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Valero Energy's current ROC (Joel Greenblatt) % is 22.47%, which is 85% above median its own 10-year median of 12.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Valero Energy stock overvalued right now?
Based on GuruFocus' analysis, Valero Energy (MEX:VLO) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN2,514.20, compared to a current price of MXN4,676.85 — trading 86% above its estimated fair value. The current ROC (Joel Greenblatt) % is 22.47%, which is 85% above median its 10-year median of 12.14 and 167% above the Oil & Gas industry median of 8.42. Valero Energy's overall GF Score™ is 53/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Valero Energy (MEX:VLO), the current ROC (Joel Greenblatt) % is 22.47% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Valero Energy (MEX:VLO) Overvalued in 2026?
Based on GuruFocus' analysis, Valero Energy stock appears to be overvalued.
The current stock price of MXN4,676.85 is trading 86% above its estimated GF Value™ of MXN2,514.20.
GuruFocus considers Valero Energy to be Significantly Overvalued.
Key valuation signals for MEX:VLO:
ROC (Joel Greenblatt) %: 22.47% (85% above median its 10-year median of 12.14)
GF Value™: MXN2,514.20 vs. price of MXN4,676.85 (86% above fair value)
Industry Position: 167% above the Oil & Gas median (#263 of 1000)
No single metric tells the full story. See the MEX:VLO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Valero Energy is one of the largest independent refiners in the United States. It operates 15 refineries, with a total throughput capacity of 3.2 million barrels a day in the US, Canada, and the United Kingdom. Valero also owns 12 ethanol plants with capacity of 1.6 billion gallons a year and holds a 50% stake in Diamond Green Diesel, which can produce 1.2 billion gallons per year of renewable diesel.
53GF Score
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