Vale S.A. Income Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	38,779	33,308	42,880	42,846	52,681
Revenue Growth (YoY)	16.43%	-22.32%	0.08%	-18.67%	32.75%
Cost of Revenue	25,216	21,232	24,734	23,492	21,047
Gross Profit	13,564	12,076	18,146	19,353	31,634
Selling, General & Admin	647.42	549.24	568.39	502.78	466.82
Research & Development	-	-	-	645.22	531.97
Other Operating Expenses	1,918	2,141	1,632	1,538	2,858
Operating Expenses	2,566	2,690	2,201	3,152	4,479
Operating Income	10,998	9,386	15,945	16,201	27,156
Interest Expense	-2,787	-2,385	-3,068	-812.62	-1,413
Interest & Investment Income	437.36	287.15	318.82	429.77	219.32
Earnings From Equity Investments	-212.42	-253.84	-1,120	305.68	-1,247
Currency Exchange Gain (Loss)	-	-	-	578.44	4,502
Other Non Operating Income (Expenses)	1,452	-1,291	767.88	2,064	-146.27
EBT Excluding Unusual Items	9,888	5,743	12,844	18,766	29,071
Merger & Restructuring Charges	-	-	-	-	-8.79
Gain (Loss) on Sale of Assets	-4,566	82.46	-271.42	-	-192.22
Asset Writedown	-	-	-	725.04	-104.64
Legal Settlements	-	-	-	-150	-95.3
Other Unusual Items	-476.22	-291.84	-1,124	-107.44	-106.25
Pretax Income	4,846	5,533	11,449	19,238	28,563
Income Tax Expense	2,702	613.27	3,091	2,872	4,544
Earnings From Continuing Operations	2,144	4,920	8,358	16,366	24,019
Earnings From Discontinued Operations	-	-	-	1,857	-2,241
Net Income to Company	2,144	4,920	8,358	18,223	21,778
Minority Interest in Earnings	363.65	187.72	-126.54	-78.12	-20.64
Net Income	2,508	5,108	8,231	18,145	21,758
Net Income to Common	2,508	5,108	8,231	18,145	21,758
Net Income Growth	-50.90%	-37.94%	-54.64%	-16.61%	322.99%
Shares Outstanding (Basic)	4,269	4,275	4,366	4,638	5,012
Shares Outstanding (Diluted)	4,275	4,280	4,370	4,642	5,017
Shares Change (YoY)	-0.12%	-2.06%	-5.87%	-7.46%	-2.20%
EPS (Basic)	0.59	1.19	1.89	3.91	4.34
EPS (Diluted)	0.59	1.19	1.89	3.91	4.34
EPS Growth	-50.85%	-36.71%	-51.81%	-9.85%	332.78%
Free Cash Flow	2,791	2,442	7,514	5,678	19,647
Free Cash Flow Per Share	0.65	0.57	1.72	1.22	3.92
Dividend Per Share	0.994	0.769	1.440	1.076	2.529
Dividend Growth	29.28%	-46.59%	33.77%	-57.45%	96.97%
Gross Margin	34.98%	36.25%	42.32%	45.17%	60.05%
Operating Margin	28.36%	28.18%	37.19%	37.81%	51.55%
Profit Margin	6.47%	15.34%	19.20%	42.35%	41.30%
Free Cash Flow Margin	7.20%	7.33%	17.52%	13.25%	37.29%
EBITDA	13,955	11,846	19,098	19,300	30,095
EBITDA Margin	35.99%	35.57%	44.54%	45.05%	57.13%
D&A For EBITDA	2,957	2,461	3,153	3,100	2,940
EBIT	10,998	9,386	15,945	16,201	27,156
EBIT Margin	28.36%	28.18%	37.19%	37.81%	51.55%
Effective Tax Rate	55.75%	11.08%	27.00%	14.93%	15.91%
Advertising Expenses	-	-	-	21.56	26.02

Source: S&P Global Market Intelligence. Standard template. Financial Sources.