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VALE

Vale S.A.

VALE

Vale S.A. • NYSE
$12.62 ▲ 0.84% (+0.10)
Market Cap $53.85 B
52w High $12.72
52w Low $8.06
Dividend Yield 0.80%
P/E 9.78
Volume 26.79M
Outstanding Shares 4.27B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $10.406B ▲ $374.406M ▼ $2.683B ▲ 25.779% ▲ $0.63 ▲ $3.678B ▲
Q2-2025 $8.804B ▲ $715M ▼ $2.117B ▲ 24.046% ▲ $0.5 ▲ $3.305B ▲
Q1-2025 $8.119B ▼ $869M ▼ $1.394B ▲ 17.17% ▲ $0.33 ▲ $3.032B ▼
Q4-2024 $9.605B ▲ $2.67B ▲ $-756.233M ▼ -7.874% ▼ $-0.18 ▼ $3.446B ▼
Q3-2024 $9.553B $-403M $2.412B 25.249% $0.57 $3.747B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.083B ▲ $91.062B ▲ $48.863B ▼ $40.959B ▲
Q2-2025 $5.696B ▲ $90.383B ▲ $49.874B ▲ $39.264B ▲
Q1-2025 $3.998B ▼ $83.43B ▲ $47.068B ▲ $35.207B ▲
Q4-2024 $5.013B ▲ $80.252B ▼ $45.695B ▼ $33.433B ▼
Q3-2024 $4.649B $88.886B $49.174B $38.295B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.683B ▲ $2.59B ▲ $-1.352B ▲ $-930.649M ▼ $380.705M ▼ $1.197B ▲
Q2-2025 $2.132B ▲ $1.915B ▲ $-2.051B ▼ $1.539B ▲ $1.549B ▲ $732.45M ▲
Q1-2025 $1.396B ▲ $1.682B ▼ $-1.393B ▲ $-1.312B ▼ $-999.695M ▼ $423.914M ▼
Q4-2024 $-901M ▼ $2.912B ▲ $-3.761B ▼ $1.435B ▲ $357M ▲ $586M ▲
Q3-2024 $2.414B $1.563B $-1.422B $-2.378B $-1.887B $196.641M

Revenue by Products

Product Q4-2012
All Other Segments
All Other Segments
 $250.00M ▲
Base Metals
Base Metals
 $1.44Bn ▲
Bulk Material
Bulk Material
 $1.43Bn ▲
Fertilizers
Fertilizers
 $80.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Vale’s income statement shows a classic commodity cycle pattern. Revenue and profits were very strong a few years ago when iron ore prices were higher, then eased back as the cycle cooled. Even with this decline from the peak, the company still generates solid operating profits and healthy margins, just not at the exceptional levels seen earlier. Net income has been quite volatile, swinging from very high earnings to more moderate levels in recent years, reflecting both price swings and one-off items. Overall, the business remains clearly profitable, but results are heavily tied to iron ore and base metal price conditions.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and more disciplined than in the past. Total assets have drifted slightly lower from earlier highs, suggesting some portfolio streamlining and fewer large expansions. Debt has come down meaningfully from several years ago and sits at a more manageable level, which reduces financial risk. Equity has stayed fairly stable, indicating that the company is preserving its capital base despite earnings volatility. Cash balances are lower than the peak years, which tightens flexibility somewhat, but leverage still appears under control and not excessive for a large mining group.

Cash Flow

Cash Flow Cash generation from operations remains strong, even after stepping down from the boom period. The company consistently produces cash well above its investment needs, resulting in positive free cash flow in every year shown. That said, free cash flow is no longer at the exceptional levels seen at the height of the cycle, so there is less surplus to absorb shocks or fund aggressive shareholder returns and growth at the same time. Capital spending has been gradually increasing again, pointing to renewed investment in projects and maintenance, but not in an overly aggressive way. Overall, Vale’s cash flow profile supports ongoing investment, dividends, and debt service, but with less cushion than during peak years.

Competitive Edge

Competitive Edge Vale holds a strong competitive position anchored in very high-quality, low-cost iron ore deposits and a rare, fully integrated logistics network of railways, ports, and ships. This combination helps it deliver reliable volumes at attractive costs, which is difficult for many rivals to match. Its premium ore quality is particularly valuable for steelmakers trying to improve efficiency and reduce emissions, giving Vale a desirable product mix rather than just being another bulk supplier. The company’s scale, asset base in Brazil, and long-term customer relationships create a durable moat, though it remains exposed to global demand for steel and to regulatory, environmental, and country-specific risks.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic pillar for Vale. The company is investing in automation, autonomous trucks, remote operations, and artificial intelligence to improve safety, lower costs, and reduce downtime. Its research centers focus on new processing technologies, including dry or low-water methods and higher-value iron ore products such as briquettes that enable cleaner steelmaking. Vale is also directing capital and partnership efforts toward the energy transition, especially in copper and nickel, battery-related technologies, and early-stage green hydrogen initiatives. This R&D push is aimed at repositioning the company as a key supplier to low-carbon supply chains, not just a traditional iron ore miner.

Summary

Vale today looks like a mature mining leader reshaping itself for a lower-carbon, more technologically sophisticated future. Financially, earnings and cash flow have come off prior peak levels but remain robust enough to fund investment and maintain a sound balance sheet. Operationally, the company benefits from world-class ore bodies and logistics that underpin its cost advantage, while at the same time it faces the usual cyclicality and geopolitical and environmental risks typical of large miners. Strategically, the pivot toward higher-value, greener iron ore products and greater exposure to copper and nickel positions it to benefit from long-term trends in clean energy and electrification, provided it can execute projects safely, on budget, and with strong environmental and social performance.

NEWS

October 28, 2025 · 12:27 PM UTC

Solis Announces Additional Cucho Exploration Concessions

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October 2, 2025 · 3:41 PM UTC

Steelworkers ratify new four-year agreement with Vale

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