# Vale S.A. (VALE)

> VALE · NYSE · Materials, metals and mining · Brazil · IFRS · Fiscal year ends December
>
> Latest report: FY2025, the fiscal year ended 31 December 2025, released 27 March 2026. Snapshot FY2025_1f99bc88.

Page: https://annalist.io/company/vale/

Identifiers: LEI 254900SMTWBX7RU2SR20, CIK 0000917851

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, fiscal year | $38.4bn | 38403000000 | USD | +0.9% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Operating profit, fiscal year | $5.9bn | 5897000000 | USD | −45.3% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Net income, fiscal year | $2.4bn | 2352000000 | USD | −61.9% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Operating margin, fiscal year | 15.4% | 15.3556 | % | −13.0pp year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Return on equity, fiscal year | 7.0% | 7.0298 | % | −9.9pp year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |

- Operating margin: Operating income / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the fiscal year ended 31 December 2025 was US$38.4 billion, 0.9% higher than in the previous fiscal year. [New in FY2025] Sources: 20-F 2025-12.
- Net income attributable to the company for fiscal 2025 was US$2.4 billion, 61.9% lower than in the previous fiscal year. [Strengthened in FY2025] Sources: 20-F 2025-12.
- The operating margin for fiscal 2025 was 15.4%, 13.0 percentage points lower than a year earlier. [Strengthened in FY2025] Sources: 20-F 2025-12.
- Return on equity for fiscal 2025 was 7.0%, against 16.9% a year earlier. [Strengthened in FY2025] Sources: 20-F 2025-12, 20-F 2024-12.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-12-31 | Revenue | $38.4bn | 38403000000 | USD | 20-F 2025-12 |
| FY2025 | 2025-12-31 | Operating profit | $5.9bn | 5897000000 | USD | 20-F 2025-12 |
| FY2025 | 2025-12-31 | Profit attributable to owners of the parent | $2.4bn | 2352000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Revenue | $38.1bn | 38056000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Operating profit | $10.8bn | 10788000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Profit attributable to owners of the parent | $6.2bn | 6166000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Revenue | $41.8bn | 41784000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Operating profit | $14.2bn | 14205000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Profit attributable to owners of the parent | $8.0bn | 7983000000 | USD | 20-F 2025-12 |
| FY2022 | 2022-12-31 | Revenue | $43.8bn | 43839000000 | USD | 20-F 2024-12 |
| FY2022 | 2022-12-31 | Operating profit | $17.2bn | 17208000000 | USD | 20-F 2024-12 |
| FY2022 | 2022-12-31 | Profit attributable to owners of the parent | $18.8bn | 18788000000 | USD | 20-F 2024-12 |
| FY2021 | 2021-12-31 | Revenue | $54.5bn | 54502000000 | USD | 20-F 2023-12 |
| FY2021 | 2021-12-31 | Operating profit | $27.7bn | 27693000000 | USD | 20-F 2023-12 |
| FY2021 | 2021-12-31 | Profit attributable to owners of the parent | $22.4bn | 22445000000 | USD | 20-F 2023-12 |

## Source Documents

- 20-F 2025-12: 20-F for the year to 31 December 2025, 27 Mar 2026 (https://www.sec.gov/Archives/edgar/data/917851/000129281426001844/valeform20f_2025.htm)
- 20-F 2024-12: 20-F for the year to 31 December 2024, 28 Mar 2025 (https://www.sec.gov/Archives/edgar/data/917851/000129281425001137/valeform20f_2024.htm)
- 20-F 2023-12: 20-F for the year to 31 December 2023, 19 Apr 2024 (https://www.sec.gov/Archives/edgar/data/917851/000129281424001463/valeform20f_2023.htm)

## Reliability

- 186 checks compare these figures with other official figures; 0 failed.
- 0 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/vale/snapshots.json

## Cite

Annalist, Vale S.A., snapshot vale/FY2025_1f99bc88; <item>, <period>; source <document>. Link the page https://annalist.io/company/vale/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/vale/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/vale/?fig=pl_annual/FY2025/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/vale/snapshots/FY2025_1f99bc88/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/vale/latest.json)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/vale/snapshots/FY2025_1f99bc88/pl_annual.csv)
- [Balance sheet, year end (CSV)](https://annalist.io/api/v1/companies/vale/snapshots/FY2025_1f99bc88/balance_sheet.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/vale/snapshots/FY2025_1f99bc88/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/vale/snapshots/FY2025_1f99bc88/ratios/annual.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/vale/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/vale/feed.xml)
- [Excel workbook](https://annalist.io/company/vale/vale.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/vale/)
- [Lenders, customers, suppliers and owners (brief in Markdown)](https://annalist.io/atlas/vale/brief.md)
- [Lenders, customers, suppliers and owners (JSON)](https://annalist.io/api/v1/atlas/vale.json)

## Peers

- [Anglo American plc](https://annalist.io/company/anglo-american/brief.md)
- [Antofagasta plc](https://annalist.io/company/antofagasta/brief.md)
- [BHP Group Limited](https://annalist.io/company/bhp/brief.md)
- [Side by side](https://annalist.io/compare/?c=vale,anglo-american,antofagasta,bhp)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.