Saturday 17 October 2026 Export VALE’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 19.2%, EPS fell 36.0%, free cash flow grew 69.8% and total debt fell 6.73%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

13.06 0.04 +0.31%

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Market cap: $53.0B
P/E: 26.7×
Fwd P/E: —
Dividend yield: 3.06%
F-score: 6/9
Altman Z: 1.62
Beneish M: −2.84
Dividend safety: 16/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.39

Total sells 0.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	2	—	2	2	—	—	—
Sell	—	—	—	—	—	—	—	1	—	—	—	—

Insider Ownership 4.45%

Capital & Financial Ratios $m

Market Cap 53,020.00

Revenue 41,236.00

Net Income 4,734.00

Free Cash Flow 3,555.00

Net Debt 13,004.00

Current Ratio 1.19

Debt/Equity 0.48

P/E ratio 26.65

Fwd P/E —

P/S ratio 1.35

P/B ratio 1.43

Past 5Y EPS Growth (10.35%)

This Y EPS Growth 210.10%

Next Y EPS Growth 1.78%

Next Y revenue growth —

Next 5Y EPS Growth 46.89%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 88.75%

10-year low 10-year high

P/S against its own 10 years 29.75%

10-year low 10-year high

P/B against its own 10 years 41.95%

10-year low 10-year high

EV/Sales against its own 10 years 26.98%

10-year low 10-year high

EV/FCF against its own 10 years 81.76%

10-year low 10-year high

Dividends

Payout Ratio 0.82

Annual Dividend Rate 0.40

Annual Dividend Yield 3.06%

	total	individual payouts
2026	0.40	0.40
2025	0.37	0.37 0.35 0.23
2024	0.46	0.54 0.37 0.09
2023	1.21	0.35 0.39 0.47
2022	1.47	0.72 0.69 0.06
2021	1.94	0.76 0.44 1.51
2019	0.26	0.26
2017	0.28	0.28 0.13

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	3,660	5,006	7,566	5,765
Receivables	5,097	3,458	3,802	4,331
Inventory	4,684	4,605	5,937	6,264
Other	1,326	412	986	1,272
	18,700	13,481	18,291	17,659

	2023	2024	2025	Q'26
Payables	5,272	4,234	5,565	6,203
ST’ Debt	824	1,020	518	1,093
Other	5,523	5,636	7,237	4,767
	14,655	13,090	15,870	14,818

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%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	9,258	10,498	—	—	—
’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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.44	0.32	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.13	7.47	11.93	10.20	6.49	11.16	11.72	12.22	8.69	8.06	Analyst estimates 2026–2028 Powerpack
	High	9.34	12.30	16.13	15.45	17.46	23.18	21.29	19.31	15.99	13.62
People
People	Employees	73,062	73,596	70,270	71,149	74,316	72,266	64,516	66,807	64,610	65,805
	Revenue/emp, $m	0.38	0.46	0.52	0.53	0.53	0.75	0.68	0.63	0.59	0.58
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
	Gross margin, %	35.79	38.06	39.55	43.61	55.58	60.13	45.19	42.35	36.24	35.04
	EBT	7,984	7,829	6,816	(2,775)	6,990	29,541	19,781	11,151	6,696	4,653
	EBT margin, %	29.05	23.05	18.64	(7.39)	17.68	54.20	45.12	26.69	17.60	12.12
	Net income	7,984	7,829	6,816	(2,775)	18,894	29,541	19,781	11,151	6,696	4,653
	Depreciation	3,487	3,708	3,351	3,726	3,198	3,034	3,171	3,070	3,057	3,105
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
	Earnings	0.77	1.06	1.32	(0.33)	0.95	4.47	4.05	1.83	1.44	0.55
	Cash flow	1.23	2.40	2.49	2.36	2.79	5.12	2.48	3.02	2.19	2.06
	Capex	(0.95)	(0.74)	(0.73)	(0.72)	(0.82)	(1.00)	(1.17)	(1.36)	(1.51)	(1.41)
	Free cash flow	0.28	1.66	1.76	1.64	1.97	4.12	1.30	1.66	0.68	0.65
	Book value	7.89	8.61	8.66	7.60	6.79	7.04	8.06	9.39	8.08	8.05
	Shares, m	5,197	5,197	5,178	5,128	5,130	5,012	4,638	4,366	4,275	4,269
Valuation, ×
Valuation, ×	P/E	10.59	12.05	10.07	0.00	17.64	3.18	4.04	8.58	6.16	23.27
	P/S	1.52	1.95	1.87	1.80	2.17	1.29	1.73	1.64	1.00	1.45
	P/B	1.02	1.48	1.52	1.74	2.47	1.99	2.03	1.67	1.10	1.62
	EV/Sales	2.43	2.43	2.12	2.05	2.28	1.39	1.97	1.95	1.27	1.74
	EV/FCF	46.14	9.57	8.51	9.15	8.55	3.66	14.29	11.25	16.54	23.86
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
	Capex	(4,951)	(3,831)	(3,784)	(3,704)	(4,227)	(5,033)	(5,446)	(5,920)	(6,447)	(6,006)
	Free cash flow	1,450	8,619	9,117	8,406	10,095	20,646	6,039	7,245	2,919	2,795
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
	Total debt	29,322	22,489	15,466	17,431	18,440	17,201	15,255	16,600	15,358	18,642
	Net debt	25,060	16,139	9,279	9,255	4,182	5,296	10,458	12,940	10,352	11,076
	Shareholders’ equity	41,024	44,772	44,832	38,993	34,821	35,306	37,358	40,981	34,528	34,350
Returns, %
Returns, %	ROA	4.25	5.56	7.32	(1.87)	5.31	24.74	21.31	8.82	7.07	2.82
	ROIC	6.67	11.22	13.81	1.71	20.55	42.63	22.49	16.47	15.02	8.11
	ROE	10.38	12.84	15.31	(4.02)	13.23	64.01	51.71	20.38	16.33	6.83

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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	$210.7B	10.4×	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	$113.2B	5.7×	12.0×	−17.27% (below 0%: shrinking)	−57.42% (below 0%: shrinking)	+12.37% (above 0%: growing)	31.58%	0.00%	Compare
VALE VALE S.A.	$53.0B	26.7×	—	+19.24% (above 0%: growing)	−36.00% (below 0%: shrinking)	+69.77% (above 0%: growing)	30.52%	20.53%
MP MP Materials Corp.	$7.4B	— (loss-making)	1,057×	+119.66% (above 0%: growing)	n/m	−638.46% (below 0%: shrinking)	42.66%	(25.41%)	Compare
MTRN Materion Corporation	$5.3B	56.3×	37.8×	+42.22% (above 0%: growing)	+53.72% (above 0%: growing)	+61.80% (above 0%: growing)	17.00%	8.42%	Compare
USAR USA Rare Earth Inc.	$4.2B	— (loss-making)	— (loss-making)	—	n/m	−1,034.95% (below 0%: shrinking)	(27.19%)	(795.64%)	Compare
SKE Skeena Resources Limited	$4.0B	— (loss-making)	—	—	n/m	−112.35% (below 0%: shrinking)	0.00%	0.00%	Compare
ALM Almonty Industries Inc.	$2.9B	50.2×	—	+497.16% (above 0%: growing)	n/m	+133.36% (above 0%: growing)	62.18%	37.51%	Compare
NEXA Nexa Resources S.A.	$1.7B	6.0×	4.4×	+28.16% (above 0%: growing)	+5,100.00% (above 0%: growing)	+28.53% (above 0%: growing)	28.32%	19.31%	Compare
Median of peers	$4.7B	10.4×	15.8×	+57.56%	+119.27%	+6.56%	29.95%	0.00%

All 46 Other Industrial Metals & Mining stocks →

VALE S.A. (VALE) key facts

Strength: VALE S.A.’s revenue for fiscal 2025 (year ended December 2025) was $38.4 billion, up 0.91% from fiscal 2024.
VALE S.A. (VALE) is an Other Industrial Metals & Mining company in the Basic Materials sector, traded in the US as an ADR.
As of October 16, 2026, VALE traded at $13.06, a market capitalization of $53.0 billion.
VALE S.A. pays an annual dividend of $0.40 per share, a yield of 3.06%, with a payout ratio of 81.6%.
Return on equity was 6.83% and debt-to-equity 0.48.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.62 (distress zone) for fiscal 2025.