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VALE S.A.

VALE Basic Materials Other Industrial Metals & Mining

VALE S.A.’s revenue for fiscal 2025 (year ended December 2025) was $38.4 billion, up 0.91% from fiscal 2024.

Revenue
+1.72%
EPS
−54.0%
Free cash flow
−9.38%
Total debt
−14.6%

Quarter to September 2026, against a year earlier

11.46 0.03 +0.26%
Market cap
$46.6B
P/E
76.4×
Fwd P/E
—
Dividend yield
3.49%
F-score
6/9
Altman Z
1.62
Beneish M
−2.84
Dividend safety
16/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.39
Sold, $m 0.00
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — 2 — 2 2 — — 1 —
Sell — — — — — — 1 — — — — —
Insider Ownership 4.56%

Capital & Financial Ratios $m

Size
Market Cap 46,630.00
Revenue ttm 41,415.00
Net income ttm 3,656.00
Free cash flow ttm 3,444.00
Net debt Q 12,936.00
Valuation
P/E 76.40 (above 35: high)
Forward P/E —
Price / sales 1.18
Forward P/S Powerpack
Price / FCF 14.19
Price / book 1.27
Financial health
Current ratio Q 1.10
Debt / equity Q 0.47 (at or below 0.5: strong)
Interest coverage Q 3.67
Growth
Revenue growth Q +1.72% (above 0%: growing)
Operating income growth Q −42.92% (below 0%: shrinking)
EPS, this year +191.99% (at or above 15%: strong)
EPS, next year A +1.60%
Revenue, next year A —
EPS, past 5 yrs −10.35% (below 0%: weak)
EPS, next 5 yrs A +45.70% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 1.9×; over the ten years it ranged from 1.2× in 2021 to 3.1× in 2016.
P/E against its own 10 years 96.52%
10-year low 10-year high
P/S against its own 10 years 17.42%
10-year low 10-year high
P/B against its own 10 years 30.07%
10-year low 10-year high
EV/Sales against its own 10 years 15.84%
10-year low 10-year high
EV/FCF against its own 10 years 80.85%
10-year low 10-year high

Dividends

Yield
3.49%
Annual rate
0.40
Payout ratio
266.5%
Growth, 2017–26
+3.91%/yr
  1. 0.28 ’17
  2. 0.26 ’19 −8
  3. 1.94 ’21 +645
  4. 1.47 ’22 −25
  5. 1.21 ’23 −18
  6. 0.46 ’24 −62
  7. 0.37 ’25 −19
  8. 0.40 ’26 +7
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,660 5,006 7,566 5,036
Receivables 5,097 3,458 3,802 4,464
Inventory 4,684 4,605 5,937 6,058
Other 1,326 412 986 1,363
18,700 13,481 18,291 16,946
2023 2024 2025 Q'26
Payables 5,272 4,234 5,565 6,814
ST’ Debt 824 1,020 518 1,190
Other 5,523 5,636 7,237 4,657
14,655 13,090 15,870 15,370

Compound Annual Growth %

10y 5y 3y
Sales 5.09% (0.58%) (4.32%)
Cash Flow 6.96% (9.28%) (8.49%)
Earnings 0.00% (13.59%) (49.98%)
Book Value (0.39%) (0.27%) (2.76%)

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 0.33 Actual 0.29

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.57 0.34 Miss by 0.23
Mar 2026 0.47 0.44 Miss by 0.03
Jun 2026 0.41 0.36 Miss by 0.05
Sep 2026 0.33 0.29 Miss by 0.04
Dec 2026 0.51 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.44 0.32 0.29 — —
’25 0.33 0.50 0.63 (0.90) 0.55
’24 0.39 0.65 0.56 (0.16) 1.44
’23 0.41 0.20 0.66 0.56 1.83
’22 0.93 1.32 0.98 0.82 4.05
’21 1.09 1.49 0.76 1.07 4.47
’20 0.05 0.19 0.57 0.14 0.95
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 9,258 10,498 10,599 — —
’25 8,119 8,804 10,420 11,060 38,403
’24 8,459 9,920 9,553 10,124 38,056
’23 8,434 9,673 10,623 13,054 41,784
’22 10,812 11,157 9,929 11,941 43,839
’21 12,553 16,514 12,330 13,105 54,502
’20 6,969 7,518 10,762 14,296 39,545
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,879 2,412 2,519 — —
’25 1,669 1,856 2,577 2,699 8,801
’24 3,576 1,211 1,667 2,912 9,366
’23 3,610 1,900 2,866 4,789 13,165
’22 2,607 3,569 3,397 1,912 11,485
’21 7,022 7,726 9,051 1,880 25,679
’20 1,685 1,362 7,805 6,517 14,322
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 694 1,168 1,072 — —
’25 414 688 1,183 510 2,795
’24 2,181 (117) 269 586 2,919
’23 2,480 692 1,402 2,671 7,245
’22 1,471 2,276 2,167 125 6,039
’21 6,042 6,623 7,852 129 20,646
’20 561 1,362 4,842 5,253 10,095
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 27,488 33,967 36,575 37,570 39,545 54,502 43,839 41,784 38,056 38,403 41,415 +3.8% — — — —
Gross margin, % 35.79 38.06 39.55 43.61 55.58 60.13 45.19 42.35 36.24 35.04 31.94 (0.8) pt
EBT 7,984 7,829 6,816 (2,775) 6,990 29,541 19,781 11,151 6,696 4,653 3,656 (5.8%)
EBT margin, % 29.05 23.05 18.64 (7.39) 17.68 54.20 45.12 26.69 17.60 12.12 8.83 (16.9) pt
Net income 7,984 7,829 6,816 (2,775) 18,894 29,541 19,781 11,151 6,696 4,653 3,656 (5.8%)
Per share, $
Per share, $ Revenue 5.29 6.54 7.06 7.33 7.71 10.87 9.45 9.57 8.90 9.00 9.71 +6.1%
Earnings 0.77 1.06 1.32 (0.33) 0.95 4.47 4.05 1.83 1.44 0.55 0.15 (3.7%)
Cash flow 1.23 2.40 2.49 2.36 2.79 5.12 2.48 3.02 2.19 2.06 2.23 +5.9%
Capex (0.95) (0.74) (0.73) (0.72) (0.82) (1.00) (1.17) (1.36) (1.51) (1.41) (1.42) +4.4%
Free cash flow 0.28 1.66 1.76 1.64 1.97 4.12 1.30 1.66 0.68 0.65 0.81 +9.9%
Book value 7.89 8.61 8.66 7.60 6.79 7.04 8.06 9.39 8.08 8.05 9.05 +0.2%
Shares, m 5,197 5,197 5,178 5,128 5,130 5,012 4,638 4,366 4,275 4,269 4,265 (2.2%)
Valuation, ×
Valuation, × P/E 10.59 12.05 10.07 0.00 17.64 3.18 4.04 8.58 6.16 23.27 76.40 9.6
P/S 1.52 1.95 1.87 1.80 2.17 1.29 1.73 1.64 1.00 1.45 1.18 1.6
P/B 1.02 1.48 1.52 1.74 2.47 1.99 2.03 1.67 1.10 1.62 1.27 1.7
EV/Sales 2.43 2.43 2.12 2.05 2.28 1.39 1.97 1.95 1.27 1.74 1.49 2.0
EV/FCF 46.14 9.57 8.51 9.15 8.55 3.66 14.29 11.25 16.54 23.86 17.95 15.2
Cash, $m
Cash, $m Operating cash flow 6,401 12,450 12,901 12,110 14,322 25,679 11,485 13,165 9,366 8,801 9,509 +3.6%
Capex (4,951) (3,831) (3,784) (3,704) (4,227) (5,033) (5,446) (5,920) (6,447) (6,006) (6,065) +2.2%
Free cash flow 1,450 8,619 9,117 8,406 10,095 20,646 6,039 7,245 2,919 2,795 3,444 +7.6%
Balance, $m
Balance, $m Working capital 11,335 5,840 6,181 3,197 9,809 7,162 1,635 4,045 391 2,421 1,576 (15.8%)
Net debt 25,060 16,139 9,279 9,255 4,182 5,296 10,458 12,940 10,352 11,076 12,936 (8.7%)
Shareholders’ equity 41,024 44,772 44,832 38,993 34,821 35,306 37,358 40,981 34,528 34,350 38,577 (2.0%)
Returns, %
Returns, % ROA 4.25 5.56 7.32 (1.87) 5.31 24.74 21.31 8.82 7.07 2.82 0.76 (1.4) pt
ROIC 6.67 11.22 13.81 1.71 20.55 42.63 22.49 16.47 15.02 8.11 6.58 +1.4 pt
ROE 10.38 12.84 15.31 (4.02) 13.23 64.01 51.71 20.38 16.33 6.83 1.68 (3.6) pt
People
People Employees 73,062 73,596 70,270 71,149 74,316 72,266 64,516 66,807 64,610 65,805 — (1.2%)
Revenue/emp, $m 0.38 0.46 0.52 0.53 0.53 0.75 0.68 0.63 0.59 0.58 — +5.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

VALE S.A. vs peers in Other Industrial Metals & Mining (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BHP BHP Group Limited Sponsored ADR $199.7B 9.9× 15.8× +72.89% (above 0%: growing) +184.82% (above 0%: growing) +0.75% (above 0%: growing) 40.30% 0.00% Compare
RIO Rio Tinto PLC $104.3B 5.2× 10.2× −17.27% (below 0%: shrinking) −57.42% (below 0%: shrinking) +12.37% (above 0%: growing) 31.58% 0.00% Compare
VALE VALE S.A. $46.6B 76.4× — +1.72% (above 0%: growing) −53.97% (below 0%: shrinking) −9.38% (below 0%: shrinking) 25.09% 15.03%
MP MP Materials Corp. $6.0B — (loss-making) — (loss-making) +89.03% (above 0%: growing) n/m −638.46% (below 0%: shrinking) 49.57% (29.52%) Compare
MTRN Materion Corporation $3.7B 35.8× 33.7× +27.54% (above 0%: growing) +49.48% (above 0%: growing) +1,007.75% (above 0%: growing) 18.28% 8.89% Compare
SKE Skeena Resources Limited $3.7B — (loss-making) — — n/m −112.35% (below 0%: shrinking) 0.00% 0.00% Compare
USAR USA Rare Earth Inc. $2.8B — (loss-making) — (loss-making) — n/m −1,034.95% (below 0%: shrinking) (27.19%) (795.64%) Compare
ALM Almonty Industries Inc. $2.3B 40.7× — +497.16% (above 0%: growing) n/m +133.36% (above 0%: growing) 62.18% 37.51% Compare
SSMR Sunshine Silver Mining & Refining Company $1.8B — — — n/m — 43.63% 0.00% Compare
Median of peers $3.7B 22.8× 15.8× +72.89% +49.48% +0.75% 35.94% 0.00%

All 56 Other Industrial Metals & Mining stocks →

VALE S.A. (VALE) Latest News

31 Oct

Impact 3 · · MarketBeat transcript

30 Oct

Impact 3 · · The Motley Fool transcript

29 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 ·

26 Oct

Impact 3 · · The Motley Fool

21 Oct

Impact 4 · · Zacks
Impact 4 · · Zacks

16 Oct

Impact 3 · · Bloomberg

13 Oct

Impact 3 · · Zacks

8 Oct

Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

5 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Zacks

1 Oct

Impact 4 · · MT Newswires

29 Sep

Impact 3 · · Zacks

25 Sep

Impact 4 · · Business Wire

24 Sep

Impact 3 · · Zacks

23 Sep

Impact 3 · · Zacks

14 Sep

Impact 3 ·

9 Sep

Impact 3 ·
Impact 3 · · mining-technology.com

24 Aug

Impact 3 ·

13 Aug

Impact 3 · · mining-technology.com

3 Aug

Impact 4 ·

1 Aug

Impact 3 · · MarketBeat

31 Jul

Impact 3 ·

23 Jul

Impact 3 ·

16 Jul

Impact 3 ·

27 Jun

Impact 3 ·

4 Jun

Impact 3 · · Insider Monkey

VALE metrics, ten years each

stockrow.com/VALE · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com