SUN vs VLO: Sunoco LP and Valero Energy compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Valero Energy is the larger company, worth $138.6B, about 9.4 times Sunoco LP.
- Sunoco LP grew revenue faster over the last year (+164.6% vs +48.8%).
- Valero Energy keeps more of each dollar of revenue as operating profit (7.2% vs 4.8%).
- On earnings, Sunoco LP is the cheaper stock (19.9x vs 34.1x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | SUN | VLO |
|---|---|---|
| Market cap | $14.7B | $138.6B |
| Share price | $75.60 | $433.75 |
| Revenue (last fiscal year) | $25.2B | $122.7B |
| Free cash flow (last fiscal year) | $615M | — |
| Revenue growth, last year | +164.6% | +48.8% |
| Revenue growth per year, last 5 fiscal years | +9.4% | +1.9% |
| Operating margin | 4.8% | 7.2% |
| Net margin | 2.9% | 5.2% |
| Return on equity | — | 28.9% |
| P/E (trailing) | 19.9x | 34.1x |
| Price / free cash flow | 23.9x | 27.5x |
| EV / EBITDA | 11.3x | 10.1x |
| FCF growth the price implies | 7.3% | — |
| Dividend yield | 4.9% | 1.0% |
| Debt / equity | — | 1.46x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Sunoco LP
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $17.6B | $369M | 4.3% |
| 2022 | $25.7B | $375M | 2.6% |
| 2023 | $23.1B | $385M | 2.8% |
| 2024 | $22.7B | $205M | 3.5% |
| 2025 | $25.2B | $615M | 3.7% |
Valero Energy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $114.0B | $3.4B | 1.9% |
| 2022 | $176.4B | $9.8B | 8.9% |
| 2023 | $144.8B | $7.3B | 8.2% |
| 2024 | $129.9B | $4.6B | 2.9% |
| 2025 | $122.7B | — | 2.6% |
Where the revenue comes from
Sunoco LP · by segments, 2025
Fuel Distribution$23.9B90%
Terminals$1.4B5%
Pipeline Systems$751M3%
Refinery$474M2%
Valero Energy · by segments, 2025
Refining$116.2B95%
Ethanol$4.0B3%
Renewable Diesel$2.5B2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open SUN in InvestinglyQuestions
Which is bigger, Sunoco LP or Valero Energy?
Valero Energy (VLO), at $138.6B against $14.7B.
Is SUN or VLO cheaper?
By trailing P/E, Sunoco LP (19.9x) is cheaper than Valero Energy (34.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, SUN or VLO?
Sunoco LP: revenue grew +164.6% over the last year, against +48.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.