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Vale S.A. (VALE) Financials

VALE
FY2025 annual
Revenue $38.4B YoY not available
Net Income $2.0B YoY not available
EPS (Diluted) Not reported for FY2025
Free Cash Flow Not reported for FY2025
Market Cap $64.8B as of Sep 12, 2026
Price / Sales 1.7x on $38.4B revenue, FY2025
Price / Earnings 32.7x on $2.0B net income, FY2025
Price / Book 0.9x on $74.2B equity, Q3 FY2013

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Mar 27, 2026 Reported Currency USD FYE March

Newest figures come from the 20-F for FY2025, filed Mar 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VALE SEC filings page.

Vale S.A. (VALE) reported $38.4B in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VALE FY2025

Vale’s current profile combines modest profitability with lower balance-sheet leverage and a limited short-term liquidity cushion.

The 5.2% net margin produced only 2.3% return on assets, while return on equity was 5.8%; together, those figures suggest the asset base is generating restrained earnings rather than merely reflecting a weak capital structure.

Long-term debt of $7.7B is a relatively small portion of $52.2B total liabilities, while a 1.2x current ratio points to tighter short-term coverage than the leverage ratio alone would imply. The balance sheet therefore appears less debt-heavy than operationally liquid.

The $3.6B dividend exceeded $2.0B of reported net income, so distributions were not matched by that year’s accounting profit. Operating cash flow and free cash flow were not reported here, preventing a reliable assessment of cash conversion.

Some figures from recent filings were inconsistent and were omitted from this summary.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Vale S.A. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
3/6

Vale S.A. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 2 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Key Financial Metrics

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Earnings & Revenue

Revenue
$14.3B
YoY-3.1%
QoQ+30.4%

Vale S.A. generated $14.3B in revenue in Q3 2013. This represents a decrease of 3.1% from the same quarter a year earlier. Against the prior quarter it is up 30.4%.

EBITDA
-$6.0M
YoY-100.1%
QoQ-100.2%

Vale S.A.'s EBITDA was -$6.0M in Q3 2013, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.1% from the same quarter a year earlier. Against the prior quarter it is down 100.2%.

Net Income
-$2.6B
YoY-156.7%
QoQ-258.6%

Vale S.A. reported -$2.6B in net income in Q3 2013. This represents a decrease of 156.7% from the same quarter a year earlier. Against the prior quarter it is down 258.6%.

EPS (Diluted)

Not reported for Q3 2013.

Cash & Balance Sheet

Free Cash Flow
-$1.3B
YoY-191.0%
QoQ-291.5%

Vale S.A. recorded an outflow of $1.3B in free cash flow in Q3 2013, representing a cash shortfall after capex. This represents a decrease of 191.0% from the same quarter a year earlier. Against the prior quarter it is down 291.5%.

Cash & Debt
$5.8B
YoY+65.2%
QoQ-26.7%

Vale S.A. held $5.8B in cash against $30.3B in long-term debt as of Q3 2013.

Shares Outstanding
3.26B
YoY0.0%
QoQ0.0%

Vale S.A. had 3.26B shares outstanding in Q3 2013. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2013.

Margins & Returns

Operating Margin
-8.4%
YoY-49.2pp
QoQ-32.5pp

Vale S.A.'s operating margin was -8.4% in Q3 2013, reflecting core business profitability. This is down 49.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 32.5 percentage points.

Net Margin
-18.5%
YoY-50.2pp
QoQ-33.7pp

Vale S.A.'s net profit margin was -18.5% in Q3 2013, showing the share of revenue converted to profit. This is down 50.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 33.7 percentage points.

Return on Equity
-3.6%
YoY-9.6pp
QoQ-5.6pp

Vale S.A.'s ROE was -3.6% in Q3 2013, measuring profit generated per dollar of shareholder equity. This is down 9.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.6 percentage points.

Gross Margin

Not reported for Q3 2013.

Capital Allocation

R&D Spending
$460.0M
YoY-13.0%
QoQ+27.8%

Vale S.A. invested $460.0M in research and development in Q3 2013. This represents a decrease of 13.0% from the same quarter a year earlier. Against the prior quarter it is up 27.8%.

Capital Expenditures
$4.6B
YoY-24.2%
QoQ-7.6%

Vale S.A. invested $4.6B in capex in Q3 2013, funding long-term assets and infrastructure. This represents a decrease of 24.2% from the same quarter a year earlier. Against the prior quarter it is down 7.6%.

Share Buybacks

Not reported for Q3 2013.

VALE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VALE quarterly income statement
MetricQ3'1310-KQ2'1310-QQ1'1310-QQ4'1210-QQ3'1210-QQ2'1210-QQ1'1210-QQ4'1110-Q
Revenue$14.3B-3.1%$11.0B-34.5%$12.2B-20.8%$11.3B-16.3%$14.8B-3.0%$16.7B+15.5%$15.3B+54.5%$13.5B+97.8%
R&D Expenses$460.0M-13.0%$360.0M-18.2%$359.0M-1.1%$299.0M-12.6%$529.0M+75.7%$440.0M+103.7%$363.0M+92.1%$342.0M+98.8%
SG&A Expenses$577.0M-30.2%$519.0M-20.6%$615.0M+41.7%$529.0M+26.3%$827.0M+27.8%$654.0M+56.5%$434.0M+26.5%$419.0M+43.0%
Operating Income-$1.2B-119.9%$2.6B-68.4%$3.9B-49.4%$3.9B-51.7%$6.0B-16.0%$8.4B+6.9%$7.7B+67.3%$8.0B+286.5%
EBITDA-$6.0M-100.1%$3.7B-60.5%$5.0B-42.6%$4.9B-45.0%$7.2B-12.7%$9.4B+10.1%$8.7B+62.3%$8.9B+218.2%
Interest ExpenseN/AN/AN/AN/AN/A$822.0M+10.9%$514.0M+272.5%-$337.0M-38.7%
Income Tax-$706.0M-161.6%$380.0M+8.3%-$1.1B-144.0%$553.0M-59.8%$1.1B+0.9%$351.0M-83.6%$2.4B+264.1%$1.4B+676.2%
Net Income-$2.6B-156.7%$1.7B-66.2%$2.7B-58.7%$3.8B-43.9%$4.7B-21.0%$4.9B-18.3%$6.5B+74.1%$6.8B+325.6%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

VALE Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VALE quarterly balance sheet
MetricQ3'1310-KQ2'1310-QQ1'1310-QQ4'1210-QQ3'1210-QQ2'1210-QQ1'1210-QQ4'1110-Q
Total Assets$131.5B+2.1%$136.5B+5.8%$129.6B-9.5%$134.4B+0.2%$128.7B-0.3%$129.0B+3.0%$143.2B+29.3%$134.2B+28.6%
Current Assets$22.9B+5.3%$25.3B-5.5%$20.8B-34.4%$22.7B-18.5%$21.7B-31.6%$26.8B-15.0%$31.7B+26.5%$27.9B+22.2%
Cash & Equivalents$5.8B+65.2%$8.0B+5.1%$4.1B-69.1%$5.0B-55.7%$3.5B-53.4%$7.6B-22.2%$13.2B+112.1%$11.3B+1.3%
Short-Term Investments$246.0M$685.0M$0$0-100.0%$0-100.0%$0$0$540.0M+4400.0%
Inventory$5.1B-3.8%$5.1B+1.7%$5.3B+0.2%$5.5B+15.0%$5.3B+22.2%$5.1B+18.6%$5.3B+38.5%$4.8B+41.3%
Accounts Receivable$6.7B-18.9%$6.5B-22.7%$6.9B-13.3%$7.3B+1.5%$8.2B+5.7%$8.4B+12.3%$7.9B+37.9%$7.2B+90.1%
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$2.9B-2.6%$3.0B-1.1%$2.9B-12.5%$3.1B-8.6%$3.0B-8.8%$3.0B-7.5%$3.4B+11.7%$3.4B+43.9%
Total Liabilities$57.2B+12.2%$54.3B+4.9%$49.3B-15.4%$52.0B-9.1%$51.0B-15.3%$51.8B-7.5%$58.2B+15.0%$57.2B+24.0%
Current Liabilities$12.6B+14.0%$10.3B-13.6%$9.2B-40.9%$10.9B-13.9%$11.0B-38.3%$12.0B-20.3%$15.6B+27.8%$12.7B+25.4%
Non-Current Liabilities$42.5B+13.2%$42.0B+14.9%$38.0B-2.8%$38.8B-5.3%$37.6B-3.1%$36.6B-2.4%$39.1B+14.4%$41.0B+26.0%
Long-Term Debt$30.3B+31.4%$28.4B+24.0%$24.9B+11.1%$24.4B+10.6%$23.0B+6.7%$22.9B+10.5%$22.4B+17.3%$22.0B+13.4%
Total Equity$74.2B-4.5%$82.2B+6.4%$80.3B-5.6%$82.4B+7.1%$77.7B+12.8%$77.2B+11.4%$85.0B+41.2%$77.0B+32.3%

Not reported in any period shown, so not listed: Retained Earnings.

VALE Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VALE quarterly cash flow statement
MetricQ3'1310-KQ2'1310-QQ1'1310-QQ4'1210-QQ3'1210-QQ2'1210-QQ1'1210-QQ4'1110-Q
Operating Cash Flow$3.3B-56.2%$5.7B+34.6%$4.4B-38.0%$3.3B-45.8%$7.5B+4.6%$4.2B-38.8%$7.1B+92.2%$6.0B+327.3%
Depreciation & Amortization$1.2B+2.0%$1.1B+4.7%$1.1B+10.7%$1.1B+10.2%$1.2B+8.9%$1.0B+46.3%$979.0M+30.9%$957.0M+28.8%
Capital Expenditures$4.6B-24.2%$5.0B+34.3%$3.2B-7.2%$3.0B+5.3%$6.1B+28.0%$3.7B-3.7%$3.5B+55.6%$2.8B+54.8%
Free Cash Flow-$1.3B-191.0%$685.0M+37.0%$1.2B-67.9%$294.0M-90.8%$1.4B-41.0%$500.0M-83.5%$3.6B+149.0%$3.2B+877.4%
Investing Cash FlowN/AN/A-$3.0B+5.6%-$3.2B-321.4%-$6.5B-0.6%-$3.9B+20.4%-$3.2B+58.0%-$766.0M-144.0%
Financing Cash FlowN/AN/A-$2.1B+5.4%$1.3B+177.7%-$5.1B-70.4%-$5.3B-597.6%-$2.3B-137.5%-$1.7B-315.4%
Share BuybacksN/AN/AN/AN/A$1.0B-11.6%$2.0B+486.8%N/AN/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.

VALE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VALE quarterly financial ratios
MetricQ3'1310-KQ2'1310-QQ1'1310-QQ4'1210-QQ3'1210-QQ2'1210-QQ1'1210-QQ4'1110-Q
Operating Margin-8.4%-49.2pp24.1%-25.9pp32.3%-18.2pp34.0%-24.9pp40.8%-6.3pp50.0%-4.0pp50.5%+3.9pp58.8%+28.7pp
Net Margin-18.5%-50.2pp15.2%-14.3pp21.9%-20.1pp33.8%-16.6pp31.7%-7.3pp29.5%-12.2pp42.0%+4.7pp50.4%+27.0pp
Return on Equity-3.6%-9.6pp2.0%-4.4pp3.3%-4.3pp4.6%-4.2pp6.0%-2.6pp6.4%-2.3pp7.6%+1.4pp8.9%+6.1pp
Return on Assets-2.0%-5.6pp1.2%-2.6pp2.1%-2.5pp2.9%-2.2pp3.6%-1.0pp3.8%-1.0pp4.5%+1.2pp5.1%+3.6pp
Current Ratio1.82-0.1x2.45+0.2x2.25+0.2x2.09-0.1x1.97+0.2x2.24+0.1x2.030.0x2.20-0.1x
Debt-to-Equity0.41+0.1x0.350.0x0.310.0x0.300.0x0.300.0x0.300.0x0.26-0.1x0.290.0x
Asset Turnover0.110.0x0.080.0x0.090.0x0.080.0x0.110.0x0.130.0x0.110.0x0.100.0x
FCF Margin-9.2%-18.9pp6.3%+3.3pp9.5%-13.9pp2.6%-21.0pp9.8%-6.3pp3.0%-17.9pp23.4%+8.9pp23.6%+29.6pp

Not reported in any period shown, so not listed: Gross Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Vale S.A. VALE FY2025 $38.4B $2.0B 5.2% $64.8B
Rio Tinto plc RIO FY2025 $57.6B $10.2B 17.8% $161.6B 28/100
BHP Group Limited BHP FY2025 $51.3B $11.1B 21.7% $222.0B 39/100
MP Materials Corp. MP FY2025 $224.4M -$85.9M -38.3% $9.1B 33/100
TMC the metals company Inc. TMC FY2025 N/A -$319.8M N/A $1.8B

Frequently Asked Questions

What is Vale S.A.'s annual revenue?

Vale S.A. (VALE) reported $38.4B in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Vale S.A. profitable?

Yes, Vale S.A. (VALE) reported a net income of $2.0B in fiscal year 2025, with a net profit margin of 5.2%.

How much debt does Vale S.A. have?

As of fiscal year 2025, Vale S.A. (VALE) had $5.0B in cash and equivalents against $7.7B in long-term debt.

Vale S.A. (VALE) had a net profit margin of 5.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Vale S.A. (VALE) has a return on equity of 5.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Vale S.A. (VALE) had $86.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Vale S.A. (VALE) spent $240.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Vale S.A. (VALE) had 4.27B shares outstanding as of fiscal year 2025.

Vale S.A. (VALE) had a current ratio of 1.15 as of fiscal year 2025, which is considered adequate.

Vale S.A. (VALE) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Vale S.A. (VALE) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Vale S.A. (VALE) trades at 32.7x earnings, its market capitalization divided by net income of $2.0B net income, FY2025. The market capitalization is $64.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Vale S.A. (VALE) trades at 1.7x sales, its market capitalization divided by revenue of $38.4B revenue, FY2025. The market capitalization is $64.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Vale S.A. (VALE) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

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