Vale S.A. (VALE) Financial Ratios
26 years of historical data (2000–2025) · Basic Materials · Industrial Materials
EV/EBITDA
↑
5.77
↑+44% vs avg
5yr avg: 4.02
30Y Low2.5·High13.8
P/FCF
↑
22.72
↑+99% vs avg
5yr avg: 11.44
30Y Low3.4·High131.6
P/B Ratio
↓
1.98
+16% vs avg
5yr avg: 1.70
30Y Low0.5·High4.5
ROE
↓
7.2%
↑-78% vs avg
5yr avg: 31.9%
30Y Low-26%·High64%
Debt/EBITDA
↑
1.37
↑+39% vs avg
5yr avg: 0.99
30Y Low0.6·High2.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VALE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Vale S.A. trades at 27.5x earnings, 206% above its 5-year average of 9.0x, sitting at the 86th percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a premium of 23%. On a free-cash-flow basis, the stock trades at 22.7x P/FCF, 99% above the 5-year average of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $69.5B | $55.7B | $37.9B | $69.3B | $78.8B | $70.3B | $86.0B | $67.7B | $68.5B | $63.6B | $39.6B |
| Enterprise Value | $81.5B | $67.7B | $50.7B | $82.5B | $89.5B | $75.8B | $94.0B | $81.5B | $81.7B | $81.7B | $66.2B |
| P/E Ratio → | 27.47 | 22.47 | 6.47 | 8.67 | 4.19 | 3.13 | 16.59 | — | 9.99 | 11.65 | 9.90 |
| P/S Ratio | 1.82 | 1.46 | 1.00 | 1.66 | 1.80 | 1.29 | 2.17 | 1.88 | 1.87 | 1.87 | 1.44 |
| P/B Ratio | 1.98 | 1.62 | 1.10 | 1.70 | 2.11 | 1.99 | 2.47 | 1.74 | 1.53 | 1.38 | 0.97 |
| P/FCF | 22.72 | 18.20 | 13.13 | 9.41 | 13.05 | 3.40 | 8.52 | 7.83 | 7.52 | 7.37 | 27.31 |
| P/OCF | 7.69 | 6.16 | 4.03 | 5.17 | 6.86 | 2.74 | 6.00 | 5.59 | 5.31 | 5.11 | 6.19 |
P/E links to full P/E history page with 30-year chart
VALE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Vale S.A.'s enterprise value stands at 5.8x EBITDA, 44% above its 5-year average of 4.0x. The Basic Materials sector median is 11.0x, placing the stock at a 47% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.77 | 1.33 | 1.97 | 2.04 | 1.39 | 2.38 | 2.26 | 2.23 | 2.41 | 2.41 |
| EV / EBITDA | 5.77 | 4.79 | 3.66 | 4.78 | 4.39 | 2.47 | 5.86 | 11.22 | 5.34 | 5.58 | 6.29 |
| EV / EBIT | 7.36 | 6.11 | 6.32 | 6.60 | 4.35 | 2.44 | 10.05 | 5.63 | 9.55 | 7.71 | 6.60 |
| EV / FCF | — | 22.12 | 17.56 | 11.21 | 14.82 | 3.67 | 9.31 | 9.43 | 8.96 | 9.48 | 45.68 |
VALE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Vale S.A. earns an operating margin of 29.0%, significantly above the Basic Materials sector average of 9.2%. Operating margins have compressed from 34.0% to 29.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 7.2% is modest. ROIC of 17.7% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.4% | 34.4% | 36.2% | 42.3% | 45.2% | 60.1% | 55.6% | 47.2% | 39.6% | 38.1% | 35.8% |
| Operating Margin | 29.0% | 29.0% | 28.3% | 34.0% | 39.3% | 50.8% | 32.4% | 10.6% | 32.7% | 32.2% | 25.7% |
| Net Profit Margin | 6.5% | 6.5% | 16.2% | 19.1% | 42.9% | 41.2% | 12.3% | -4.6% | 18.8% | 16.2% | 14.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.2% | 7.2% | 16.4% | 20.4% | 51.7% | 64.0% | 13.2% | -4.0% | 15.1% | 12.6% | 10.4% |
| ROA | 3.0% | 3.0% | 7.1% | 8.8% | 21.3% | 24.7% | 5.3% | -1.8% | 7.3% | 5.6% | 4.2% |
| ROIC | 17.7% | 17.7% | 16.0% | 20.9% | 29.1% | 49.7% | 20.1% | 5.2% | 14.7% | 12.4% | 8.2% |
| ROCE | 16.0% | 16.0% | 14.7% | 18.7% | 23.4% | 36.5% | 16.5% | 4.9% | 14.5% | 12.6% | 8.5% |
VALE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Vale S.A. carries a Debt/EBITDA ratio of 1.4x, which is manageable (45% below the sector average of 2.5x). Net debt stands at $12.0B ($19.4B total debt minus $7.4B cash). Interest coverage of 7.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.56 | 0.56 | 0.51 | 0.41 | 0.41 | 0.49 | 0.62 | 0.54 | 0.42 | 0.49 | 0.75 |
| Debt / EBITDA | 1.37 | 1.37 | 1.28 | 0.97 | 0.76 | 0.56 | 1.34 | 2.91 | 1.24 | 1.54 | 2.94 |
| Net Debt / Equity | — | 0.35 | 0.37 | 0.32 | 0.29 | 0.16 | 0.23 | 0.35 | 0.29 | 0.39 | 0.65 |
| Net Debt / EBITDA | 0.85 | 0.85 | 0.92 | 0.76 | 0.53 | 0.18 | 0.50 | 1.90 | 0.86 | 1.24 | 2.53 |
| Debt / FCF | — | 3.92 | 4.43 | 1.79 | 1.77 | 0.27 | 0.79 | 1.60 | 1.45 | 2.11 | 18.37 |
| Interest Coverage | 7.12 | 7.12 | 7.05 | 9.33 | 17.26 | 16.01 | 3.39 | 3.97 | 5.55 | 3.23 | 4.66 |
VALE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.15x means Vale S.A. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.78x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.28x to 1.15x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.15 | 1.15 | 1.03 | 1.28 | 1.12 | 1.47 | 1.67 | 1.23 | 1.68 | 1.45 | 2.01 |
| Quick Ratio | 0.78 | 0.78 | 0.68 | 0.96 | 0.80 | 1.18 | 1.39 | 0.92 | 1.19 | 1.15 | 1.71 |
| Cash Ratio | 0.48 | 0.48 | 0.38 | 0.25 | 0.35 | 0.78 | 0.98 | 0.59 | 0.64 | 0.48 | 0.38 |
| Asset Turnover | — | 0.44 | 0.47 | 0.45 | 0.50 | 0.61 | 0.43 | 0.39 | 0.41 | 0.34 | 0.28 |
| Inventory Turnover | 4.21 | 4.21 | 5.26 | 5.16 | 5.36 | 4.96 | 4.33 | 4.45 | 4.98 | 5.36 | 5.27 |
| Days Sales Outstanding | — | 36.45 | 33.17 | 44.37 | 46.55 | 32.04 | 52.58 | 38.24 | 38.86 | 60.76 | 70.31 |
VALE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Vale S.A. returns 5.2% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 144.6%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.2% | 6.4% | 10.1% | 8.1% | 8.4% | 19.2% | 3.9% | — | 4.8% | 2.3% | 0.6% |
| Payout Ratio | 144.6% | 144.6% | 62.2% | 70.1% | 35.1% | 60.1% | 68.6% | — | 48.3% | 26.4% | 6.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 4.5% | 15.4% | 11.5% | 23.9% | 32.0% | 6.0% | — | 10.0% | 8.6% | 10.1% |
| FCF Yield | 4.4% | 5.5% | 7.6% | 10.6% | 7.7% | 29.4% | 11.7% | 12.8% | 13.3% | 13.6% | 3.7% |
| Buyback Yield | 0.0% | 0.0% | 1.0% | 3.9% | 7.7% | 7.9% | 0.0% | 0.0% | 1.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.2% | 6.4% | 11.1% | 12.0% | 16.0% | 27.1% | 3.9% | 0.0% | 6.3% | 2.3% | 0.6% |
| Shares Outstanding | — | $4.3B | $4.3B | $4.4B | $4.6B | $5.0B | $5.1B | $5.1B | $5.2B | $5.2B | $5.2B |
Peer Comparison
Compare VALE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VALEYou | $70B | 27.5 | 5.8 | 22.7 | 34.4% | 29.0% | 7.2% | 17.7% | 1.4 |
 RIO | $201B | 14.2 | 10.0 | 33.6 | 56.4% | 29.2% | 20.2% | 18.6% | 0.7 |
 BHP | $201B | 22.3 | 8.8 | 21.7 | 82.2% | 38.0% | 17.8% | 24.0% | 1.0 |
 CLF | $6B | -3.5 | — | — | -4.6% | -7.5% | -22.4% | -7.5% | — |
 MT | $44B | 14.2 | 7.9 | 94.0 | 9.6% | 5.9% | 5.8% | 4.5% | 2.0 |
 NUE | $53B | 30.9 | 13.9 | — | 11.9% | 8.2% | 8.0% | 7.7% | 1.7 |
 STLD | $34B | 29.7 | 18.7 | 68.6 | 13.0% | 8.1% | 13.3% | 9.2% | 2.1 |
 FCX | $83B | 38.0 | 10.7 | 74.3 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 CAT | $421B | 48.0 | 33.7 | 41.0 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 CMI | $93B | 32.9 | 19.4 | 39.1 | 25.3% | 11.9% | 23.0% | 16.7% | 1.6 |
 GNRC | $15B | 98.0 | 34.0 | 57.7 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Full VALE Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See VALE's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs VALE Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare VALE vs RIO
Side-by-side business, growth, and profitability comparison vs Rio Tinto Group.
Start ComparisonVALE — Frequently Asked Questions
Quick answers to the most common questions about buying VALE stock.
What is Vale S.A.'s P/E ratio?
Vale S.A.'s current P/E ratio is 27.5x. The historical average is 20.1x. This places it at the 86th percentile of its historical range.
What is Vale S.A.'s EV/EBITDA?
Vale S.A.'s current EV/EBITDA is 5.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
What is Vale S.A.'s ROE?
Vale S.A.'s return on equity (ROE) is 7.2%. The historical average is 21.6%.
Is VALE stock overvalued?
Based on historical data, Vale S.A. is trading at a P/E of 27.5x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Vale S.A.'s dividend yield?
Vale S.A.'s current dividend yield is 5.25% with a payout ratio of 144.6%.
What are Vale S.A.'s profit margins?
Vale S.A. has 34.4% gross margin and 29.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Vale S.A. have?
Vale S.A.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.