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Vale SA
(NYSE:VALE)
Vale SA (VALE) vs. SPDR S&P 500 ETF (SPY)
Vale SA Business Overview & Revenue Model
Vale SA Key Performance Indicators (KPIs)
Reveals revenue contributions from each business unit, indicating which areas are growing, stable, or declining, and providing insight into the company's strategic focus.
The FlyVale SA Earnings Call Summary
Vale SA Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.93B | 38.06B | 41.78B | 43.84B | 54.50B | 39.55B |
| Gross Profit | 12.84B | 13.79B | 17.70B | 19.81B | 32.77B | 21.98B |
| EBITDA | 13.46B | 11.07B | 15.56B | 23.74B | 34.13B | 12.56B |
| Net Income | 5.44B | 6.17B | 7.98B | 18.79B | 22.45B | 4.88B |
Balance Sheet | ||||||
| Total Assets | 91.06B | 80.25B | 93.87B | 86.89B | 89.44B | 92.01B |
| Cash, Cash Equivalents and Short-Term Investments | 6.08B | 5.01B | 3.66B | 4.80B | 11.90B | 14.26B |
| Total Debt | 18.52B | 17.74B | 16.80B | 15.44B | 17.20B | 21.49B |
| Total Liabilities | 48.86B | 45.69B | 53.04B | 49.54B | 54.14B | 57.19B |
| Stockholders Equity | 40.96B | 33.43B | 39.31B | 35.87B | 34.47B | 35.74B |
Cash Flow | ||||||
| Free Cash Flow | 2.94B | 2.88B | 7.36B | 6.04B | 20.65B | 10.10B |
| Operating Cash Flow | 9.10B | 9.39B | 13.40B | 11.48B | 25.68B | 14.32B |
| Investing Cash Flow | -8.56B | -5.79B | -6.49B | -4.69B | -6.61B | -4.67B |
| Financing Cash Flow | 731.08M | -2.13B | -7.41B | -13.91B | -20.28B | -2.68B |
Vale SA Technical Analysis
Vale SA Risk Analysis
Vale SA Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $122.17B | 11.33 | 18.18% | 5.18% | -0.44% | -4.20% | |
79 Outperform | $54.12B | 10.01 | 13.65% | 6.32% | -8.49% | -41.69% | |
73 Outperform | $138.64B | 15.42 | 19.51% | 3.93% | -7.86% | 14.17% | |
65 Neutral | $940.31M | ― | -1.64% | 1.43% | 7.92% | 91.83% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | $10.30B | ― | -6.83% | ― | 26.44% | -95.87% | |
50 Neutral | $791.67M | ― | -40.17% | ― | 7.27% | 27.35% |
Vale SA Corporate Events
Vale S.A., a leading global mining company, submitted a report as a foreign private issuer to the United States Securities and Exchange Commission in November 2025. The report is part of their regulatory compliance under the Securities Exchange Act of 1934, indicating ongoing adherence to international financial reporting standards.
On November 5, 2025, Vale S.A. announced the completion of its optional acquisition of 89,410,390 participating debentures from its 6th issuance, representing 23.01% of the total outstanding debentures. This marks a significant milestone in Vale’s financial liability management, as it is the first optional acquisition offer since the debentures were issued in 1997, highlighting the company’s strategic approach to managing its financial obligations.
On October 31, 2025, Vale S.A.’s Executive Vice President of Finance, Marcelo Bacci, announced during a conference call that the company is likely to declare extraordinary dividends soon, citing market stability and better-than-expected cash flow as contributing factors. The company is also monitoring potential regulatory changes regarding dividend taxation, specifically Bill No. 1,087/25, which proposes a 10% withholding tax on dividends exceeding R$50,000 per month. Despite these potential changes, Bacci indicated that the immediate impact on Vale would be minimal due to their dividend policy. The announcement aligns with Vale’s historical pattern of dividend distribution and has not caused significant fluctuations in the company’s share price.
On October 31, 2025, Vale S.A. filed a report with the U.S. Securities and Exchange Commission, signed by Thiago Lofiego, the Director of Investor Relations. This filing, under the Securities Exchange Act of 1934, is part of Vale’s regulatory compliance and reflects its ongoing commitment to transparency in its financial operations, which is crucial for maintaining investor confidence and fulfilling international reporting obligations.
Vale S.A. reported its financial results for the three-month period ending September 30, 2025. The company achieved a net operating revenue of $10,420 million, an increase from the previous year’s $9,553 million for the same period. Despite this increase in revenue, the company’s operating income decreased to $2,791 million from $3,675 million in the same period last year. The net income attributable to Vale S.A.’s shareholders was $2,685 million, up from $2,412 million in the previous year. The financial review conducted by PricewaterhouseCoopers did not find any material modifications necessary for the interim financial statements to conform with IAS 34 standards.
Vale S.A. released its interim financial statements for the period ending September 30, 2025, showing a notable increase in net operating revenue compared to the previous year. Despite facing challenges such as increased costs and operational stoppages, the company maintained a strong financial position, reflecting its resilience and strategic management in the mining sector.
On October 30, 2025, Vale S.A. announced a revision of its 2025 all-in cost estimates for copper and nickel, citing strong operational performance and higher-than-expected gold by-product prices. The updated estimates reflect a reduction in costs, with copper costs now projected between $1,000 and $1,500 per ton, down from $1,500 to $2,000, and nickel costs between $13,000 and $14,000 per ton, down from $14,000 to $15,500. This adjustment underscores Vale’s improved efficiency and could enhance its competitive position in the global mining industry, potentially benefiting stakeholders by optimizing operational costs.
In the third quarter of 2025, Vale S.A. reported strong operational performance with significant increases in iron ore, copper, and nickel sales. The company achieved its highest quarterly iron ore production since 2018 and the best third-quarter copper results since 2019. Vale’s strategic initiatives, such as the New Carajás program and the start-up of the second furnace at Onça Puma, have bolstered its growth and long-term value creation strategy. The company has also made substantial progress in its ESG commitments, including reducing the emergency levels of its tailing dams and advancing its reparation agreements for Brumadinho and Samarco incidents.
On October 23, 2025, Fitch Ratings upgraded Vale S.A.’s Long-Term Foreign and Local Currency Issuer Default Ratings from ‘BBB’ to ‘BBB+’, reflecting the company’s enhanced operational flexibility, diversification into higher value-added products, and improved environmental risk management. This upgrade underscores Vale’s strengthened credit risk profile and its leading position in the iron ore market, with expectations of robust cash flow and disciplined growth strategies. The upgrade is likely to positively impact Vale’s market positioning and reassure stakeholders of its financial stability and strategic direction.
In the third quarter of 2025, Vale S.A. reported strong operational performance across its key mineral sectors. Iron ore production reached its highest level since 2018, with a total of 94.4 million metric tons, supported by record outputs at the S11D site. Copper production increased by 6% year-over-year, driven by consistent output from Salobo and higher concentrate volumes from Voisey’s Bay and Sudbury. Nickel production remained stable, with significant increases in ore mined at Sudbury and the successful start-up of Onça Puma’s second furnace, which is expected to boost future production. The company’s strategic focus on optimizing its product portfolio has resulted in improved price realization for iron ore fines, despite a decrease in pellet output due to market conditions.
On October 21, 2025, Vale S.A., a leading mining company, submitted a report to the U.S. Securities and Exchange Commission as part of its compliance with the Securities Exchange Act of 1934. This filing, signed by the Director of Investor Relations, Thiago Lofiego, underscores Vale’s commitment to maintaining transparency and regulatory adherence in its operations, which is crucial for its stakeholders and market positioning.
On October 16, 2025, Vale S.A. clarified details regarding its offer for the optional acquisition of participating debentures from its sixth issuance, following a media article published on October 15, 2025. The company confirmed that the terms, including a fixed acquisition price of R$42.00 per debenture, remain unchanged, offering a 15% premium over the previous closing price. This unique voluntary tender offer, available to all debenture holders without quantity restrictions, is set to conclude on October 31, 2025. The announcement underscores Vale’s strategic financial maneuvers and could impact stakeholders by offering an attractive exit option for debenture holders.
On October 14, 2025, Vale S.A. announced that it would pay interest on its 10th issue of incentive debentures on October 15, 2025. The total amount to be paid is R$ 199,838,323.19, distributed across three series of debentures. This payment reflects Vale’s ongoing financial commitments and may impact its cash flow and investor relations positively, reinforcing its position in the capital markets.
On September 30, 2025, Vale S.A. reported its equity securities purchases, maintaining a consistent balance of shares and American Depositary Shares (ADS) across its entities. This announcement reflects Vale’s ongoing strategic management of its equity holdings, which is crucial for its market positioning and stakeholder interests.
Vale S.A. announced an Optional Acquisition Offer for its 6th issuance of single series participating debentures, aiming to optimize its capital structure and enhance shareholder value. The offer, which is not contingent on a minimum number of debentures being sold, will allow the company to acquire up to all outstanding debentures at a fixed price of R$42.00 per debenture. This strategic move is expected to increase liquidity for debenture holders and improve financial efficiency, with the acquisition set to be settled by November 5, 2025.
On October 2, 2025, Vale S.A.’s Board of Directors approved a plan to repurchase up to 388,559,056 Participating Debentures, representing 100% of the outstanding debentures, for subsequent cancellation. This strategic move, recommended by the Capital Allocation and Projects Committee, aims to optimize the company’s capital structure and enhance shareholder value by offering a premium based on market conditions.
On November 5, 2025, Vale S.A. plans to execute an optional acquisition of its 6th issuance of participating debentures at a fixed price of R$42.00 per debenture. This move, facilitated by several financial institutions through the B3 trading system, aims to strengthen Vale’s financial positioning by potentially reducing outstanding debt. The acquisition is contingent on certain financial conditions and the receipt of sale intention notices from debenture holders by October 31, 2025.
On October 6, 2025, Vale S.A. announced an offer for the optional acquisition of its sixth issuance of participating debentures. This strategic move aims to optimize Vale’s capital structure by managing financial liabilities and enhancing capital allocation efficiency. The acquisition offer is designed to provide liquidity to debenture holders and will be conducted under specific conditions, including obtaining satisfactory financing. The offer’s financial settlement is set to be completed by October 31, 2025.
On October 2, 2025, Vale S.A. announced the release schedule for its third-quarter 2025 earnings reports. The production and sales report will be available on October 21, 2025, followed by the financial performance report on October 30, 2025. A conference call and webcast are scheduled for October 31, 2025. This announcement is part of Vale’s regular financial disclosure process, providing stakeholders with insights into the company’s operational and financial performance.
On September 30, 2025, Vale S.A. and its subsidiary Vale Base Metals Ltd. announced the successful start-up of the second furnace at the Onça Puma site, increasing the site’s production capacity by 15 ktpy to a total of 40 ktpy. The project was completed on schedule and under budget, demonstrating the company’s commitment to competitive and sustainable operations, which is expected to enhance long-term value for stakeholders.
On September 30, 2025, Vale S.A. announced a payment of R$598,341,134.23 in premiums for participating debentures, covering the period from January to June 2025. This payment reflects a decrease from the previous period, attributed to lower sales volumes and revenues from iron ore and copper concentrate. The premium payments are calculated based on a percentage of net revenues from these sales, with iron ore contributing the majority. The financial settlement is scheduled for October 1, 2025, impacting stakeholders by providing returns on their investments in Vale’s debentures.
On September 22, 2025, Vale S.A. announced it will disburse a semi-annual remuneration on its participating debentures on September 30, 2025. The total payment amounts to R$ 598,341,134.23, which includes premiums from iron ore and copper concentrate sales, as well as a mining right sale. This financial move reflects Vale’s ongoing commitment to its stakeholders and highlights its strong performance in the mining sector.
Vale S.A. recently approved new Internal Regulations for its Executive Committee, aimed at enhancing the governance and operational efficiency of the company. These regulations outline the responsibilities and ethical duties of the committee members, emphasizing transparency, loyalty, and sustainable practices. The changes are expected to improve the company’s management processes and strengthen its alignment with corporate governance standards, potentially impacting its industry positioning positively.
On September 18, 2025, Vale S.A. announced the completion of a joint venture with Global Infrastructure Partners in Aliança Energia. The transaction, which involved Vale receiving approximately $1 billion and retaining a 30% stake, consolidates several renewable energy assets, including solar and hydroelectric plants. This strategic move ensures Vale’s energy supply at competitive costs and supports its commitment to a renewable energy matrix in Brazil.
On September 17, 2025, Vale S.A., a leading company in the mining industry, filed a report with the U.S. Securities and Exchange Commission. This filing, which is a routine submission under the Securities Exchange Act of 1934, was signed by Thiago Lofiego, the Director of Investor Relations, signifying compliance with regulatory requirements.
On September 11, 2025, Vale S.A. announced that it has received an operating license for the Serra Sul +20 Mtpy Project, a significant milestone for the company. This project, which involves expanding the annual capacity of the S11D mine-plant by 20 million tons, is expected to enhance Vale’s production capacity and support sustainable growth in Brazil. With an estimated investment of $2.8 billion, the project has achieved 57% financial progress and 77% physical progress, positioning Vale to strengthen its market presence and operational flexibility.
On August 31, 2025, Vale S.A. reported its equity securities holdings, showing no changes in the number of shares or American Depositary Shares (ADS) held by the company and its affiliates. This stability in holdings suggests a steady approach to its equity management strategy, potentially indicating confidence in its current market position and operations.
On September 10, 2025, Vale S.A. announced updates to its 2025 capital investment guidance, reflecting efforts to optimize its project portfolio. The company adjusted its total capital expenditures to $5.4-$5.7 billion, down from the previous estimate of $5.9 billion, with specific reductions in growth and maintenance investments. Vale also introduced sales estimates for its new ‘Mid-Grade Carajás’ and ‘PFC’ iron ore products, aiming for greater portfolio flexibility and value maximization. The discontinuation of previous sales estimates for the Iron Ore Solutions portfolio indicates a strategic shift to enhance adaptability in varying market conditions.
On September 4, 2025, Vale S.A. submitted a report to the United States Securities and Exchange Commission, signed by Thiago Lofiego, the Director of Investor Relations. This filing is part of Vale’s compliance with the Securities Exchange Act of 1934, reflecting its ongoing commitment to regulatory requirements and transparency in its operations.
On August 28, 2025, Vale S.A. announced a new shareholder remuneration policy aimed at ensuring predictable compensation for shareholders while maintaining the company’s financial stability. The policy specifies that the minimum annual remuneration will be 30% of the adjusted EBITDA minus sustaining investments, distributed in two semiannual installments. This move is expected to enhance investor confidence by providing clear guidelines for shareholder returns, potentially impacting Vale’s market positioning positively.
In August 2025, Vale S.A. presented an institutional update highlighting its strategic focus on energy transition metals and iron ore solutions. The company reported a net operating revenue of $38.1 billion for 2024, with significant investments in sustainability, including sourcing 100% of its electricity in Brazil from renewable sources. Vale’s commitment to governance is reflected in its independent Board of Directors and diversified shareholder base. The company’s operational performance in 2024 included the production of 328 million tons of iron ore and 37 million tons of pellets, underscoring its leadership in the global mining sector.
On July 31, 2025, Vale S.A.’s Board of Directors approved new internal regulations to govern its operations and interactions with other governance bodies. These regulations emphasize the protection of assets, maximizing shareholder returns, and adhering to ethical principles. The changes aim to enhance the company’s strategic alignment with diversity, inclusion, and environmental respect. This move is expected to strengthen Vale’s governance framework and improve its industry positioning by ensuring transparency and accountability in its operations.
On August 28, 2025, Vale S.A., a major player in the mining industry, submitted a report to the United States Securities and Exchange Commission as part of its compliance with the Securities Exchange Act of 1934. The report was signed by Thiago Lofiego, the Director of Investor Relations, indicating Vale’s ongoing commitment to regulatory obligations and transparency in its operations.
On August 18, 2025, Vale S.A. announced a significant milestone in its dam safety management by reducing the emergency level of the Forquilha III dam from level 3 to level 2, as approved by the Brazilian National Mining Agency. This achievement aligns with Vale’s commitment to have no dams at emergency level 3 in 2025 and highlights the company’s ongoing efforts to enhance safety and environmental protection. The reduction was facilitated by new data and improved instrumentation, and the dam is part of Vale’s broader Upstream Dam Decharacterization Program, which has seen 17 out of 30 structures decharacterized since 2019. This development underscores Vale’s investment in governance and technology to ensure the safety and monitoring of its dam structures.