Vale S.A. (VALE) Financial Ratios
26 years of historical data (2000–2025) · Basic Materials · Industrial Materials
EV/EBITDA
↑
5.62
↑+40% vs avg
5yr avg: 4.02
30Y Low2.5·High13.8
P/FCF
↑
21.99
↑+92% vs avg
5yr avg: 11.44
30Y Low3.4·High131.6
P/B Ratio
↓
1.91
+12% 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 26.6x earnings, 196% 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 23.6x, the stock trades at a premium of 13%. On a free-cash-flow basis, the stock trades at 22.0x P/FCF, 92% 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 | $67.3B | $55.7B | $37.9B | $69.3B | $78.8B | $70.3B | $86.0B | $67.7B | $68.5B | $63.6B | $39.6B |
| Enterprise Value | $79.3B | $67.7B | $50.7B | $82.5B | $89.5B | $75.8B | $94.0B | $81.5B | $81.7B | $81.7B | $66.2B |
| P/E Ratio → | 26.59 | 22.47 | 6.47 | 8.67 | 4.19 | 3.13 | 16.59 | — | 9.99 | 11.65 | 9.90 |
| P/S Ratio | 1.76 | 1.46 | 1.00 | 1.66 | 1.80 | 1.29 | 2.17 | 1.88 | 1.87 | 1.87 | 1.44 |
| P/B Ratio | 1.91 | 1.62 | 1.10 | 1.70 | 2.11 | 1.99 | 2.47 | 1.74 | 1.53 | 1.38 | 0.97 |
| P/FCF | 21.99 | 18.20 | 13.13 | 9.41 | 13.05 | 3.40 | 8.52 | 7.83 | 7.52 | 7.37 | 27.31 |
| P/OCF | 7.45 | 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 5.6x EBITDA, 40% above its 5-year average of 4.0x. The Basic Materials sector median is 11.0x, placing the stock at a 49% 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 | 5.62 | 4.79 | 3.66 | 4.78 | 4.39 | 2.47 | 5.86 | 11.22 | 5.34 | 5.58 | 6.29 |
| EV / EBIT | 7.15 | 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 10.3%. 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 (44% below the sector average of 2.4x). 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 5.4% 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 3.8% (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 | 5.4% | 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 | 3.8% | 4.5% | 15.4% | 11.5% | 23.9% | 32.0% | 6.0% | — | 10.0% | 8.6% | 10.1% |
| FCF Yield | 4.5% | 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 | 5.4% | 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 | $67B | 26.6 | 5.6 | 22.0 | 34.4% | 29.0% | 7.2% | 17.7% | 1.4 |
 RIO | $200B | 14.2 | 10.0 | 33.4 | 56.4% | 29.2% | 20.2% | 18.6% | 0.7 |
 BHP | $223B | 24.7 | 9.7 | 24.0 | 82.2% | 38.0% | 17.8% | 24.0% | 1.0 |
 CLF | $7B | -4.1 | — | — | -4.6% | -7.5% | -22.4% | -7.5% | — |
 MT | $48B | 15.4 | 8.5 | 102.5 | 9.6% | 5.9% | 5.8% | 4.5% | 2.0 |
 NUE | $56B | 32.4 | 14.6 | — | 11.9% | 8.2% | 8.0% | 7.7% | 1.7 |
 STLD | $36B | 31.3 | 19.6 | 72.2 | 13.0% | 8.1% | 13.3% | 9.2% | 2.1 |
 FCX | $99B | 45.2 | 12.5 | 88.4 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 CMI | $99B | 35.0 | 21.0 | 41.5 | 25.3% | 11.5% | 23.0% | 16.1% | 1.6 |
 GNRC | $16B | 103.8 | 35.9 | 61.1 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
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VALE — 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 26.6x. 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 5.6x. 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 26.6x. 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 5.42% 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.