Vale S.A. (VALE) stock analysis

VALENYSEMetal MiningFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Score 3/30

$11.58+0.00 (0.00%)

Close on Nov 11, 2026Market cap $49.43BP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Weak3 of 30 checks passed

Vale passes 3 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation: 0/6
Growth: 0/6
Past performance: 2/6
Financial health: 1/6
Dividend: 0/6

What stands out

Return on equity above the industry
Vale's return on equity of 6.1% is above the Materials median of -14.3%.
Net margin above the industry
Vale's net margin of 6.1% is above the Materials median of -6.1%.
Short-term assets cover short-term debts
Current assets are 1.19 times current liabilities.

What to watch

Return on equity under 15%
Return on equity was 6.1% over the last twelve months and averaged 32.5% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 8.9%, below the 10% that usually covers the cost of capital.
Earnings shrank over 5 years
Net income shrank 13.6% a year on average over the last five fiscal years.
Revenue growing under 10% a year
Revenue grew -4.3% a year over the last three fiscal years, short of the 10% we look for.

Valuation0/6

P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.

Growth0/6

Revenue growing under 10% a year
Revenue grew -4.3% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth not accelerating
Net income grew -61.9% over the last twelve months, against a 5-year average of -13.6% a year.
Growing slower than the industry
Revenue grew 0.9% over the last twelve months; the Materials median is 11.1%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin slipping
Gross margin was 35.0% over the last twelve months, against 36.2% a year earlier.

Past performance2/6

Return on equity under 15%
Return on equity was 6.1% over the last twelve months and averaged 32.5% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 8.9%, below the 10% that usually covers the cost of capital.
Return on equity above the industry
Vale's return on equity of 6.1% is above the Materials median of -14.3%.
Earnings shrank over 5 years
Net income shrank 13.6% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 6.1% over the last twelve months, against a 5-year average of 25.1%.
Net margin above the industry
Vale's net margin of 6.1% is above the Materials median of -6.1%.

Financial health1/6

Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest not well covered
Operating income covers interest expense 4.5 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 1.19 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.

Dividend0/6

No dividend
Vale has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Vale. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day: $483.25M
Value traded per 1% price move: $260.23M

Downside

Medium risk

Typical loss in a bad month: 16.4%
Volatility (annualized): 34%
Sharpe ratio, 1 year: -0.30
Beta to the S&P 500 (5Y): 0.72

Typical bad-month loss, week by week

Margins

Share of revenue, fiscal years 2010 to 2025

Gross margin

35.0%−20.5 pts over 5 years

Operating margin

15.4%−17.1 pts over 5 years

Net margin

6.1%−6.2 pts over 5 years

Growth rates

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+0.9%	-4.3%	-0.6%	+5.1%
Gross profit	-2.4%	-12.1%	-9.3%	+11.3%
Operating income	-45.3%	-30.0%	-14.4%	–
Net income	-61.9%	-50.0%	-13.6%	–

Returns and balance sheet

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	–	12.9%	7.0%
Return on assets	–	5.3%	2.8%
Current ratio	2.01	1.67	1.15
Debt to equity	0.75	0.37	–
Net debt to EBITDA	2.37×	-0.01×	–
Interest coverage	2.6×	11.1×	4.5×
Inventory turnover	–	4.2×	4.7×
Capex to revenue	18.0%	–	–
Diluted shares	5M	5M	4M

DuPont analysis

Return on equity split into margin, efficiency and leverage

Net margin6.1%

Asset turnover0.46×

Equity multiplier2.49×

Return on equity, FY20257.0%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	6.1%	0.46×	2.49×	7.0%
FY2024	16.2%	0.44×	2.39×	16.9%
FY2023	19.1%	0.46×	2.40×	21.2%
FY2022	42.9%	0.50×	2.51×	53.4%
FY2021	41.2%	0.60×	2.58×	63.9%
FY2020	12.3%	0.43×	2.42×	12.9%
FY2019	-4.6%	0.41×	2.14×	-4.0%
FY2018	18.8%	0.39×	2.14×	15.7%
FY2017	16.2%	0.34×	2.40×	13.4%