Vale revenue and financials

VALE · NYSE · USD

Secondary listing. The primary listing is Vale · B3 (BRL)

$14.06+2.18%+$0.30

Close · October 5, 2026

In the fiscal year ended December 2025, Vale reported revenue of $38.4B (+0.91% year over year). Net income was $2.35B, a net margin of 6.1%.

Annual revenue · 2025: $38.4B

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	38,403	38,056	41,784	43,839	54,502	39,545	36,549	36,575	33,967	27,488
Cost of revenue	24,947	24,265	24,089	24,028	21,729	17,564	19,312	22,109	21,039	17,650
Gross profit	13,456	13,791	17,695	19,811	32,773	21,981	17,237	14,466	12,928	9,838
Selling, general and administrative	569	566	506	474	—	—	—	—	—	—
Research and development	693	790	723	660	549	415	413	373	340	319
Operating income	5,897	10,788	14,205	17,208	27,693	12,823	3,893	11,955	10,930	7,052
EBIT	6,694	8,033	12,520	20,726	—	—	—	—	—	—
EBITDA	9,799	11,090	15,590	23,897	—	—	—	—	—	—
Interest expense	1,647	1,473	1,459	1,179	1,249	1,158	3,684	2,314	3,273	2,677
Pre-tax income	4,653	6,696	11,151	19,781	—	—	—	—	—	—
Income tax	2,670	721	3,046	2,971	4,697	735	-595	-172	1,495	2,781
Net income	2,352	6,166	7,983	18,788	22,445	4,881	-1,683	6,860	5,507	3,982
Net income to common shareholders	2,352	6,166	7,983	18,788	—	—	—	—	—	—
Basic EPS	0.55	1.44	1.83	4.05	—	—	—	—	—	—
Diluted EPS	0.55	1.44	1.83	4.05	—	—	—	—	—	—
Average shares (basic)	4,269	4,275	4,362	4,638	—	—	—	—	—	—
Average shares (diluted)	4,275	4,280	4,362	4,642	—	—	—	—	—	—