Vale revenue and financials
Secondary listing. The primary listing is Vale · B3 (BRL)
$14.08Change from previous close: −0.49%Absolute change: −$0.07
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%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +0.91%
- 2025 vs 2024
- Net income growth
- −61.86%
- 2025 vs 2024
- Net margin
- 6.1%
- 2024: 16.2%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 48,765 | 50,199 | 65,905 | 58,201 | 25,679 | 14,322 | 12,110 | 12,901 | 12,450 | 6,401 |
| Depreciation and amortization | 2,916 | 2,813 | 2,842 | 2,669 | -2,626 | 2,746 | 3,503 | 3,211 | 3,509 | 3,554 |
| Capital expenditure | -33,390 | -35,098 | -29,446 | -28,184 | -27,301 | — | — | — | -3,831 | -4,951 |
| Investing cash flow | -38,463 | -30,781 | -31,425 | -24,176 | -35,288 | — | — | — | — | — |
| Financing cash flow | 1,239 | -11,468 | -37,002 | -71,005 | -109,226 | — | — | — | — | — |
| Dividends paid | -19,971 | -20,663 | -27,967 | -34,092 | -73,112 | — | — | — | — | — |
| Share repurchases | 0.0 | -409 | -2,714 | -6,036 | -5,546 | — | — | -1,000 | — | — |
| Debt issued | 5,459 | 4,855 | 1,950 | 1,275 | — | — | — | — | — | — |
| Debt repaid | -1,628 | -2,807 | -891 | -2,524 | — | — | — | — | — | — |
| Effect of exchange rates | -1,649 | 5,247 | -4,715 | -3,657 | 3,071 | — | — | — | — | — |
| Net change in cash | 9,892 | 13,197 | -7,237 | -40,698 | -4,677 | — | — | — | — | — |
| Free cash flow | 15,375 | 15,101 | 36,459 | 30,017 | 109,465 | — | — | — | — | — |
| Levered free cash flow | 15,446 | 36,699 | 4,231 | 33,358 | 84,777 | — | — | — | — | — |