Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Valero Energy Corporation (VLO) Halal?

PASS

Valero Energy Corporation · NYSE: VLO · Energy

The short answer

Yes — Valero Energy (VLO) passes this Shariah stock screen. The San Antonio, Texas company manufactures and markets petroleum-based and low-carbon liquid transportation fuels: 15 refineries with about 3.2 million barrels per day of throughput, a joint-venture stake in Diamond Green Diesel (about 1.2 billion gallons per year of renewable diesel), and 12 fuel-ethanol plants (about 1.7 billion gallons per year) — all industrial fuel activity, with no haram business segments disclosed in its FY2025 10-K. The financial ratios pass comfortably: total debt and finance lease obligations of $11,349M at June 30, 2026 are about 9.65% of its ~$117.6B market cap (October 2026), below the ~33% ceiling, and interest income is $0 for FY2025 (Zoya) — 0% of revenue, below the 5% ceiling. Zoya and Musaffa both rate VLO halal/Shariah-compliant (both updated September 2026); no ShariaPortfolio coverage was found. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Valero Energy Corporation (NYSE: VLO), a Fortune 500 company headquartered in San Antonio, Texas, is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, sold primarily in the U.S., Canada, the U.K., Ireland and Latin America. Its FY2025 Form 10-K (filed February 25, 2026) describes three reportable segments: Refining — 15 petroleum refineries in the U.S., Canada and the U.K. with combined throughput capacity of about 3.2 million barrels per day; Renewable Diesel — a joint-venture stake in Diamond Green Diesel Holdings LLC (DGD, with Darling Ingredients Inc.), producing low-carbon fuels at two Gulf Coast plants with combined capacity of about 1.2 billion gallons per year; and Ethanol — 12 ethanol plants in the U.S. Mid-Continent with combined capacity of about 1.7 billion gallons per year. FY2025 total revenue of $122,687M = Refining $116,158M + Renewable Diesel $2,508M + Ethanol $4,021M from external customers. On the ethanol question (factual): the 10-K states the Ethanol segment's ethanol is sold to the Refining segment for blending into gasoline and generates RINs as a qualifying renewable fuel — it is fuel ethanol, not beverage alcohol. Business-screen implication (factual): all activity is refining, renewable fuels and fuel ethanol; the filings disclose no alcohol, gambling, conventional finance, pork, weapons or tobacco revenue — no haram segments. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Valero's Q2 2026 results (announced July 30, 2026; 10-Q for the quarter ended June 30, 2026) report total debt and finance lease obligations of $11,349M as of June 30, 2026 — total debt $9,101M plus total finance lease obligations $2,248M. Against a market capitalisation of about $117.6B (VLO close of $408.46 on October 1, 2026, per stockanalysis.com), debt ÷ market cap is about 9.65% — below the ~33% ceiling. Using interest-bearing debt alone ($9,101M) the ratio is about 7.74%. Cash and cash equivalents of $7,874M at June 30, 2026 are about 6.70% of market cap, also below 33%. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

Valero's Form 10-K for the year ended December 31, 2025 (filed February 25, 2026) reports FY2025 total revenues of $122,687M. The 10-K does not disclose a separate interest-income line; Zoya's FY2025 analysis of VLO reports interest income of $0 against $122,687M revenue — 0% of revenue, below the 5% non-compliant income ceiling. The 10-K's MD&A notes that the $119M year-on-year decline in 'Other income, net' (2025: $380M) was primarily driven by lower interest income on cash — so any interest income on cash is a small component; even treating the entire $380M 'Other income, net' line as interest income would be only about 0.31% of revenue. The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does Valero Energy do?

Valero Energy Corporation, a Fortune 500 company headquartered in San Antonio, Texas, is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, sold primarily in the U.S., Canada, the U.K., Ireland and Latin America. Its FY2025 10-K describes three segments: Refining — 15 petroleum refineries in the U.S., Canada and the U.K. with combined throughput capacity of about 3.2 million barrels per day; Renewable Diesel — a joint-venture stake in Diamond Green Diesel Holdings LLC (DGD), producing low-carbon fuels at two Gulf Coast plants with combined capacity of about 1.2 billion gallons per year; and Ethanol — 12 ethanol plants in the U.S. Mid-Continent with combined capacity of about 1.7 billion gallons per year. FY2025 total revenue was $122,687M — Refining $116,158M, Renewable Diesel $2,508M and Ethanol $4,021M from external customers. The 10-K states the Ethanol segment’s ethanol is fuel ethanol: it is sold to the Refining segment for blending into gasoline and generates RINs as a qualifying renewable fuel — it is not beverage alcohol. No alcohol, gambling, conventional finance, pork, weapons or tobacco revenue is disclosed — no haram segments.

Why does VLO pass this Shariah stock screen?

VLO passes this Shariah stock screen at all three gates. Gate 1 (business activities): refining, renewable diesel and fuel-ethanol manufacturing and marketing are permissible industrial activity — the FY2025 10-K discloses no alcohol, gambling, conventional finance, pork, weapons or tobacco revenue (the ethanol is fuel ethanol blended into gasoline, not beverage alcohol). Gate 2 (debt): total debt and finance lease obligations of $11,349M at June 30, 2026 ÷ a ~$117.6B market cap (October 2026) is about 9.65%, below the ~33% ceiling; cash and cash equivalents of $7,874M are about 6.70% of market cap. Gate 3 (interest income): Zoya’s FY2025 analysis reports interest income of $0 against $122,687M revenue — 0%, below the 5% ceiling; even treating the entire ‘Other income, net’ line of $380M as interest would be only 0.31%. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is VLO’s interest-bearing debt ratio?

Valero’s Q2 2026 results (announced July 30, 2026; 10-Q for the quarter ended June 30, 2026) report total debt and finance lease obligations of $11,349M as of June 30, 2026 — total debt $9,101M plus total finance lease obligations $2,248M. Against a market capitalisation of about $117.6B (stockanalysis.com, VLO close of $408.46 on October 1, 2026), debt ÷ market cap is about 9.65% — below the ~33% ceiling. Using debt alone ($9,101M) the ratio is about 7.74%. Cash and cash equivalents of $7,874M at June 30, 2026 are about 6.70% of market cap, also below 33%. The debt gate passes.

What is VLO’s non-compliant income ratio?

Valero’s Form 10-K for the year ended December 31, 2025 (filed February 25, 2026) reports FY2025 total revenues of $122,687M. The 10-K does not disclose a separate interest-income line; Zoya’s FY2025 analysis of VLO reports interest income of $0 against $122,687M revenue — 0% of revenue, below the 5% non-compliant income ceiling. The 10-K’s MD&A notes the $119M decline in ‘Other income, net’ (2025: $380M) was primarily driven by lower interest income on cash — so any interest income on cash is a small component; even treating the entire $380M ‘Other income, net’ line as interest income would be only about 0.31% of revenue. The income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover VLO?

Yes for two of the three. Zoya covers VLO (zoya.finance/stocks/vlo; updated September 2026) and rates it Shariah-compliant under AAOIFI-based guidelines, citing FY2025 revenue of $122,687M and interest income of $0. Musaffa covers VLO (musaffa.com/stock/VLO/; updated September 2026) and classifies it as HALAL under its AAOIFI screening methodology. ShariaPortfolio: no VLO page or rating was found via public search — no coverage found, reported honestly as found, not invented. This page applies the screen directly from Valero’s own SEC filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).