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Vale SA VALE

US equityMarket cap rank #283Other Industrial Metals & Mining
$13.65
−$0.18 (-1.27%)
Market open · Sep 24, 1:10 pm ET
After hours $13.93 +0.80%
Open$13.77
Prev close$13.82
Day range$13.55 – $13.78
Volume17.81M
Market cap$58.07B
P/E (TTM)27.3
Dividend yield5.83%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$10.50B+19.2% YoY
Operating profit$2.37B+4.5% YoY
Net profit$1.41B-33.8% YoY
Diluted EPS$0.32-36.0% YoY
Free cash flow$1.17B+69.8% YoY
Operating cash flow$2.41B

Revenue, last 8 quarters

$9.6BSep '24$10.1BDec '24$8.1BMar '25$8.8BJun '25$10.4BSep '25$11.1BDec '25$9.3BMar '26$10.5BJun '26

Net profit, last 8 quarters

$2.4BSep '24$-872.0MDec '24$1.4BMar '25$2.1BJun '25$2.7BSep '25$-4.2BDec '25$1.9BMar '26$1.4BJun '26

Diluted EPS by quarter

0.56Sep '24-0.16Dec '240.33Mar '250.50Jun '250.63Sep '25-0.90Dec '250.44Mar '260.32Jun '26

Free cash flow by quarter

$269.0MSep '24$586.0MDec '24$414.0MMar '25$688.0MJun '25$1.2BSep '25$510.0MDec '25$694.0MMar '26$1.2BJun '26

Annual revenue

$39.5BFY20$54.5BFY21$43.8BFY22$41.8BFY23$38.1BFY24$38.4BFY25

Profitability & balance sheet

Gross margin34.8%
Operating margin28.7%
Net margin5.1%
Return on equity5.5%
Return on assets2.3%
Return on invested capital5.8%
Current ratio1.19
Liabilities / assets56.4%
Cash & investments$5.77B
Total debt$21.84B
Net cash (debt)-$16.07B
Free cash flow / sales8.6%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Iron Ore Solutions$7.89B 75.1%
  • Vale Base Metals$2.61B 24.9%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $10.50B $9.26B $38.40B $11.06B $10.42B
Total Operating Revenue $10.50B $9.26B $38.40B $11.06B $10.42B
Cost of Revenue $7.29B $6.17B $24.95B $6.78B $6.63B
Gross Profit $3.20B $3.09B $13.46B $4.28B $3.79B
Operating Expense $837.00M $479.00M $2.11B $784.00M $597.00M
Selling and Admin Expenses $159.00M $142.00M $569.00M $182.00M $142.00M
-General & Admin Expense $159.00M $142.00M $569.00M $182.00M $117.00M
Research & Development $185.00M $131.00M $693.00M $260.00M $151.00M
Depreciation & Amortization & Depletion $17.00M $10.00M $72.00M $25.00M $16.00M
-Depreciation & Amortization $17.00M $10.00M $72.00M $25.00M $16.00M
Other Operating Expenses $476.00M $196.00M $779.00M $317.00M $288.00M
Operating Profit $2.37B $2.61B $11.34B $3.50B $3.19B
Net Non-Operating Interest Income (Expense) -$190.00M -$636.00M -$2.27B -$970.00M -$740.00M
Non-Operating Interest Income $219.00M $18.00M $68.00M $5.00M $148.00M
Non-Operating Interest Expense $340.00M $597.00M $2.04B $1.15B $281.00M
Total Other Finance Costs $69.00M $57.00M $300.00M -$173.00M $607.00M
Other Income (Expense) -$395.00M $475.00M -$4.42B -$4.63B $161.00M
Gain on Sale of Security -$283.00M $670.00M $1.25B -$113.00M $401.00M
Earnings from Equity Interest $100.00M $36.00M -$218.00M -$369.00M $160.00M
Special Income (Charges) -$212.00M -$231.00M -$5.45B -$4.15B -$400.00M
-Less:Impairment of Capital Assets -$16.00M $4.60B $3.84B $370.00M
-Less:Other Special Charges $228.00M $111.00M $847.00M $306.00M $30.00M
Pretax Profit $1.78B $2.45B $4.65B -$2.11B $2.61B
Tax $368.00M $505.00M $2.67B $2.14B -$83.00M
Net Profit $1.41B $1.94B $1.98B -$4.24B $2.70B
Profit from Continuing Operations $1.41B $1.94B $1.98B -$4.24B $2.70B
Minority Interests $39.00M $47.00M -$369.00M -$399.00M $10.00M
Net Income to Parent Company $1.38B $1.89B $2.35B -$3.84B $2.69B
Net Income to Common Stockholders $1.38B $1.89B $2.35B -$3.84B $2.69B
Basic EPS $0.32 $0.44 $0.55 -$0.90 $0.63
Diluted EPS $0.32 $0.44 $0.55 -$0.90 $0.63
Dividend Per Share $0.00 $0.00 $1.17 $0.45 $0.35
Other Taxes $12.00M $68.00M
-Less:Write Off $120.00M
-Selling & Marketing Expense $25.00M

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $89.28B $87.59B $86.53B $86.53B $91.19B
Total Current Assets $17.66B $16.75B $18.29B $18.29B $16.49B
Cash and Cash Equivalents & Short-Term Investments $5.77B $5.28B $7.57B $7.57B $6.72B
-Cash and Cash Equivalents $5.58B $5.09B $7.37B $7.37B $5.90B
-Short Term Investments $188.00M $194.00M $194.00M $194.00M $815.00M
Receivables $4.34B $3.76B $3.85B $3.85B $3.74B
-Accounts Receivable $2.61B $2.40B $2.30B $2.30B $2.51B
-Loans Receivable $4.00M $45.00M $43.00M $43.00M $76.00M
-Taxes Receivable $1.72B $1.31B $1.51B $1.51B $1.23B
Inventory $6.26B $6.14B $5.94B $5.94B $5.57B
Restricted Cash $0.00 $0.00 $0.00 $0.00 $0.00
Other Current Assets $696.00M $672.00M $529.00M $529.00M $464.00M
Total Non-Current Assets $71.62B $70.84B $68.23B $68.23B $74.70B
Net PPE $46.40B $45.67B $43.63B $43.63B $61.40B
-Gross PPE $87.08B $85.85B $80.80B $80.80B $82.01B
-Accumulated Depreciation -$40.68B -$40.18B -$37.18B -$37.18B -$36.72B
Investments and Advances $5.34B $5.22B $5.09B $5.09B $416.00M
-Available for Sale Securities $75.00M $69.00M $63.00M $63.00M $416.00M
-Long Term Equity Investment $5.26B $5.15B $5.03B $5.03B $5.17B
Financial Assets $463.00M $377.00M $203.00M $203.00M $276.00M
Non Current Accounts Receivables $1.74B $1.95B $1.78B $1.78B $1.77B
Non-Current Note Receivables $246.00M $245.00M $207.00M $207.00M $73.00M
Goodwill and Other Intangible Assets $9.42B $9.36B $8.95B $8.95B $10.94B
-Goodwill $1.38B $1.37B $1.30B $1.30B $3.05B
-Other Intangible Assets $8.04B $8.00B $7.66B $7.66B $7.89B
Non-Current Deferred Assets $6.02B $6.02B $6.32B $6.32B $8.89B
Other Non-Current Assets $1.99B $2.00B $2.06B $2.06B $2.23B
Total Liabilities $50.33B $50.04B $52.18B $52.18B $48.91B
Total Current Liabilities $14.82B $13.51B $15.87B $15.87B $13.32B
Payables $8.24B $7.79B $10.41B $10.41B $7.85B
-Accounts Payable $6.20B $5.49B $5.57B $5.57B $5.65B
-Total Tax Payable $1.35B $1.10B $1.11B $1.11B $1.01B
-Dividends Payable $21.00M $21.00M $2.65B $2.65B $0.00
-Due to Related Parties Current $662.00M $1.18B $1.08B $1.08B $1.19B
Short-Term Debt and Capital Lease Obligation $1.28B $762.00M $682.00M $682.00M $645.00M
-Current Debt $1.11B $602.00M $522.00M $522.00M $470.00M
-Current Capital Lease Obligation $169.00M $160.00M $160.00M $160.00M $175.00M
Current Provisions $1.28B $1.16B $1.01B $1.01B $1.09B
Current Deferred Liabilities $629.00M $616.00M $570.00M $570.00M $484.00M
Other Current Liabilities $2.51B $2.50B $2.07B $2.07B $2.74B
Total Non-Current Liabilities $35.52B $36.53B $36.31B $36.31B $35.59B
Long Term Accounts Payable and Other Payables $627.00M $726.00M $784.00M $784.00M $905.00M
Long Term Debt and Capital Lease Obligation $20.73B $21.43B $21.12B $21.12B $20.57B
-Long Term Debt $20.27B $20.95B $20.61B $20.61B $20.04B
-Long Term Capital Lease Obligation $465.00M $481.00M $508.00M $508.00M $525.00M
Derivative Product Liabilities $178.00M $30.00M $52.00M $52.00M $87.00M
Due to Related Parties Non-Current $1.44B $1.52B $1.53B $1.53B $1.21B
Non-Current Liabilities $6.03B $6.17B $6.19B $6.19B $6.05B
Non-Current Deferred Liabilities $1.84B $1.96B $1.93B $1.93B $66.00M
Employee Benefits $1.19B $1.20B $1.21B $1.21B $1.21B
Other Non-Current Liabilities $3.49B $3.50B $3.48B $3.48B $5.58B
Total Equity $38.95B $37.55B $34.35B $34.35B $42.28B
Stockholders' Equity $38.01B $36.65B $33.51B $33.51B $41.04B
Capital Stock $61.71B $61.61B $61.61B $61.61B $61.61B
-Common Stock $61.71B $61.61B $61.61B $61.61B $61.61B
Retained Earnings $3.27B $1.89B $0.00 $0.00 $4.75B
Less: Treasury Stock $2.73B $2.59B $3.91B $3.91B $3.91B
Gains/Losses Not Affecting Retained Earnings -$24.25B -$24.27B -$24.20B -$24.20B -$21.41B
Minority Interests $935.00M $901.00M $841.00M $841.00M $1.24B

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $2.41B $1.88B $8.80B $2.70B $2.58B
Net cash flow from continuing operations $2.41B $1.88B $8.80B $2.70B $2.58B
Net Income from Continuing Operations $1.78B $2.45B $4.65B -$2.11B $2.61B
Gain/Loss from Continuing Operations $183.00M -$706.00M -$1.03B $482.00M -$338.00M
Depreciation & Depletion & Amortization $911.00M $845.00M $3.11B $860.00M $761.00M
Other Non-Cash Items $145.00M $573.00M $1.53B -$2.44B $3.32B
Change in Working Capital $127.00M -$863.00M -$312.00M $179.00M -$231.00M
-Change in Receivables -$259.00M -$119.00M $120.00M $170.00M -$207.00M
-Change in Inventory -$255.00M -$214.00M -$1.08B -$349.00M -$344.00M
-Change in Payables and Accrued Expense $726.00M -$262.00M $875.00M $48.00M $105.00M
-Change In Other Working Capital -$85.00M -$268.00M -$231.00M $310.00M $215.00M
Net cash flow from investing -$1.83B -$1.27B -$6.86B -$2.25B -$1.24B
Net Cash Flow from Continuing Investing Activities -$1.83B -$1.27B -$6.86B -$2.25B -$1.24B
Net Investment Purchase and Sale $59.00M $58.00M $337.00M $143.00M $61.00M
Net Other Investing Changes -$678.00M -$169.00M -$2.40B -$268.00M -$971.00M
Financing Cash Flow -$109.00M -$3.01B $270.00M $972.00M -$977.00M
Net Cash Flow from Continuing Financing Activities -$109.00M -$3.01B $270.00M $972.00M -$977.00M
Net Issuance Payments Of Debt $31.00M -$189.00M $3.83B $1.07B $508.00M
Net Common Stock Issuance -$140.00M -$74.00M $0.00 $0.00 $0.00
Cash Dividends Paid $0.00 -$2.75B -$3.56B -$97.00M -$1.49B
Ending Cash Balance $5.58B $5.09B $7.37B $7.37B $5.90B
Net Change in Cash $475.00M -$2.40B $2.21B $1.42B $360.00M
Beginning Cash Balance $5.09B $7.37B $4.95B $5.90B $5.51B
Effect of Exchange Rate Changes $17.00M $110.00M $212.00M -$62.00M $28.00M
Free Cash Flow $1.17B $694.00M $2.80B $510.00M $1.18B
Net PPE Purchase and Sale -$1.19B -$6.01B -$2.19B -$1.39B
Deferred Tax $68.00M $14.00M
Net Business Purchase and Sale $891.00M -$115.00M $1.01B
Capital Expenditure -$1.39B
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