Vale S.A. (VALE) — Financial statements
Income statement, balance sheet, and cash flow for Vale S.A. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 38,232↑0.5% | 38,056↓8.9% | 41,784↓4.7% | 43,839↓19.6% | 54,502 | |
| Cost of Revenue | 25,093↑3.4% | 24,265↑0.7% | 24,089↑0.3% | 24,028↑10.6% | 21,729 | |
| Gross Profit | 13,139↓4.7% | 13,791↓22.1% | 17,695↓10.7% | 19,811↓39.6% | 32,773 | |
| Operating Expenses | ||||||
| R&D Expenses | 689↓12.8% | 790↑9.7% | 720↑9.1% | 660↑20.2% | 549 | |
| General & Administrative Expenses | 0.00↓100.0% | 545↑13.5% | 480↑31.1% | 366↓11.2% | 412 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 21↓19.2% | 26↓75.9% | 108↑300.0% | 27 | |
| SG&A Expenses | 567↑0.1% | 566↑11.9% | 506↑6.8% | 474↑8.0% | 439 | |
| Other Expenses | 802↓51.3% | 1,647↓27.2% | 2,264↑54.1% | 1,469↓64.1% | 4,092 | |
| Operating Expenses | 2,058↓31.5% | 3,003↓14.0% | 3,490↑34.1% | 2,603↓48.8% | 5,080 | |
| Total Costs & Expenses | 27,151↓0.4% | 27,268↓1.1% | 27,579↑3.6% | 26,631↓0.7% | 26,809 | |
| Operating Results | ||||||
| Operating Income | 11,081↑2.7% | 10,788↓24.1% | 14,205↓17.5% | 17,208↓37.9% | 27,693 | |
| Depreciation & Amortization | 3,036↓0.7% | 3,057↓0.4% | 3,070↓3.2% | 3,173↑4.6% | 3,034 | |
| EBITDA | 14,118↑27.5% | 11,071↓28.8% | 15,560↓34.5% | 23,745↓30.4% | 34,128 | |
| EBIT | 11,081↑38.3% | 8,014↓35.8% | 12,490↓39.3% | 20,572↓33.8% | 31,094 | |
| Interest & Other Income | ||||||
| Net Interest Income | -1,126↓14.7% | -981↑35.2% | -1,515↓101.4% | -752↑56.2% | -1,715 | |
| Interest Income | 431↑178.2% | 155↑188.1% | -176↓140.0% | 440↑94.3% | 226 | |
| Interest Expense | 1,557↑37.0% | 1,136↓15.2% | 1,339↑12.3% | 1,192↓38.6% | 1,942 | |
| Non-Operating Income | 0.00↓100.0% | 2,774↑61.7% | 1,715↑151.0% | -3,364↑1.1% | -3,401 | |
| Other Income / Expenses | -6,303↓54.0% | -4,092↓34.0% | -3,054↓218.7% | 2,573↑39.2% | 1,848 | |
| Income Before Tax | 4,778↓28.6% | 6,696↓40.0% | 11,151↓43.6% | 19,781↓33.0% | 29,541 | |
| Income Tax Expense | 2,664↑269.5% | 721↓76.3% | 3,046↑2.5% | 2,971↓36.7% | 4,697 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 2,114↓64.6% | 5,975↓26.3% | 8,105↓51.8% | 16,810↓32.3% | 24,844 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00↑100.0% | -2,376 | |
| Net Income | 2,473↓59.9% | 6,166↓22.8% | 7,983↓57.5% | 18,788↓16.3% | 22,445 | |
| Bottom-Line Net Income | 2,473↓59.9% | 6,166↓22.9% | 7,996↓57.4% | 18,788↓16.3% | 22,445 | |
| EPS (Basic) | 0.58↓57.7% | 1.37↓25.1% | 1.83↓54.8% | 4.05↓9.6% | 4.48 | |
| EPS (Diluted) | 0.58↓57.7% | 1.37↓25.1% | 1.83↓54.8% | 4.05↓9.6% | 4.48 | |
| Weighted Average Shares | 4,269↑0.9% | 4,231↓3.1% | 4,366↓5.9% | 4,638↓7.5% | 5,012 | |
| Weighted Average Diluted Shares | 4,275↑0.1% | 4,269↓2.3% | 4,370↓5.9% | 4,642↓7.4% | 5,012 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.