VALE
Vale SA ADR
NYSE: VALE · BASIC MATERIALS · OTHER INDUSTRIAL METALS & MINING
$15.85
-6.27% today
Updated 2026-04-29
Market cap
$74.95B
P/E ratio
31.22
P/S ratio
0.35x
EPS (TTM)
$0.55
Dividend yield
32.00%
52W range
$8 – $18
Volume
29.0M
Vale SA ADR (VALE) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.65B | $32.24B | $37.43B | $27.80B | $45.29B | $58.99B | $47.69B | $46.77B | $38.24B | $25.61B | $27.49B | $33.97B | $36.58B | $35.98B | $39.55B | $54.50B | $43.84B | $41.78B | $38.06B | $38.23B |
| Revenue growth (YoY) | — | +64.1% | +16.1% | -25.7% | +62.9% | +30.2% | -19.1% | -1.9% | -18.2% | -33.0% | +7.3% | +23.6% | +7.7% | -1.6% | +9.9% | +37.8% | -19.6% | -4.7% | -8.9% | +0.5% |
| Cost of revenue | $10.15B | $16.46B | $17.64B | $15.89B | $18.81B | $23.57B | $26.48B | $24.25B | $25.76B | $20.51B | $17.65B | $21.04B | $22.11B | $19.02B | $17.56B | $21.73B | $24.03B | $24.09B | $24.27B | $25.09B |
| Gross profit | $9.50B | $15.78B | $19.79B | $11.91B | $26.48B | $35.42B | $21.21B | $22.52B | $12.47B | $5.10B | $9.84B | $12.93B | $14.47B | $16.97B | $21.98B | $32.77B | $19.81B | $17.70B | $13.79B | $13.14B |
| Gross margin | 48.4% | 48.9% | 52.9% | 42.8% | 58.5% | 60.0% | 44.5% | 48.2% | 32.6% | 19.9% | 35.8% | 38.1% | 39.6% | 47.2% | 55.6% | 60.1% | 45.2% | 42.3% | 36.2% | 34.4% |
| R&D | $481.00M | $733.00M | $1.08B | $1.13B | $878.00M | $1.67B | $1.48B | $801.00M | $734.00M | $477.00M | $319.00M | $340.00M | $373.00M | $409.02M | $415.00M | $549.00M | $660.00M | $720.34M | $790.00M | $688.77M |
| SG&A | $816.00M | $1.25B | $1.75B | $1.13B | $1.70B | $2.33B | $1.58B | $955.00M | $858.00M | $491.00M | $366.00M | $428.00M | $366.00M | $1.59B | $344.00M | $412.00M | $366.00M | $480.00M | $545.00M | $569.00M |
| Operating income | $7.64B | $13.19B | $14.75B | $-7.56B | $21.70B | $30.11B | $9.32B | $15.06B | $7.18B | $-6.13B | $7.05B | $10.93B | $11.96B | $3.83B | $12.82B | $27.69B | $17.21B | $14.21B | $10.79B | $11.08B |
| Operating margin | 38.9% | 40.9% | 39.4% | -27.2% | 47.9% | 51.0% | 19.6% | 32.2% | 18.8% | -23.9% | 25.7% | 32.2% | 32.7% | 10.6% | 32.4% | 50.8% | 39.3% | 34.0% | 28.3% | 29.0% |
| EBITDA | $10.16B | $16.28B | $17.79B | $11.40B | $26.22B | $33.36B | $18.56B | $19.25B | $13.69B | $-14.66B | $10.85B | $14.31B | $12.50B | $17.91B | $12.56B | $34.13B | $23.74B | $15.56B | $11.07B | $14.12B |
| EBITDA margin | 51.7% | 50.5% | 47.5% | 41.0% | 57.9% | 56.6% | 38.9% | 41.2% | 35.8% | -57.3% | 39.5% | 42.1% | 34.2% | 49.8% | 31.8% | 62.6% | 54.2% | 37.2% | 29.1% | 36.9% |
| EBIT | $9.17B | $14.10B | $14.98B | $8.28B | $22.96B | $29.24B | $14.27B | $15.10B | $9.40B | $-18.69B | $7.38B | $10.60B | $9.15B | $14.47B | $9.35B | $31.09B | $20.57B | $12.49B | $8.01B | $11.08B |
| Interest expense | $1.34B | $1.59B | $1.76B | $1.12B | $2.65B | $2.46B | $2.34B | $2.25B | $2.94B | $891.00M | $2.15B | $3.28B | $1.54B | $3.64B | $2.75B | $1.94B | $1.19B | $1.34B | $1.14B | $1.56B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $6.53B | $11.82B | $13.22B | $5.88B | $17.26B | $22.89B | $5.37B | $584.00M | $657.00M | $-12.13B | $3.98B | $5.51B | $6.86B | $-1.66B | $4.88B | $22.45B | $18.79B | $7.98B | $6.17B | $2.47B |
| Net income growth (YoY) | — | +81.1% | +11.8% | -55.6% | +193.9% | +32.6% | -76.5% | -89.1% | +12.5% | -1946.1% | +132.8% | +38.3% | +24.6% | -124.2% | +394.0% | +359.8% | -16.3% | -57.5% | -22.8% | -59.9% |
| Profit margin | 33.2% | 36.7% | 35.3% | 21.1% | 38.1% | 38.8% | 11.3% | 1.2% | 1.7% | -47.4% | 14.5% | 16.2% | 18.8% | -4.6% | 12.3% | 41.2% | 42.9% | 19.1% | 16.2% | 6.5% |