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	38,403	38,056	41,784	43,839	54,502
Revenue Growth (YoY)	0.91%	-8.92%	-4.69%	-19.56%	37.82%
Cost of Revenue	24,947	24,265	24,089	24,028	21,729
Gross Profit	13,456	13,791	17,695	19,811	32,773
Selling, General & Admin	641	622	553	515	481
Research & Development	693	790	723	660	549
Other Operating Expenses	6,225	1,591	2,214	1,428	4,050
Total Operating Expenses	7,559	3,003	3,490	2,603	5,080
Operating Income	5,897	10,788	14,205	17,208	27,693
Interest Income	501	422	432	520	337
Interest Expense	-1,647	-1,473	-1,459	-1,179	-1,249
Other Non-Operating Income (Expense)	-98	-3,041	-2,027	3,232	2,760
Total Non-Operating Income (Expense)	-1,244	-4,092	-3,054	2,573	1,848
Pretax Income	4,653	6,696	11,151	19,781	29,541
Provision for Income Taxes	2,670	721	3,046	2,971	4,697
Net Income	2,352	6,166	7,983	18,788	22,445
Minority Interest in Earnings	-369	-191	122	82	108
Net Income to Common	2,352	6,166	7,983	18,788	22,445
Net Income Growth	-61.86%	-22.76%	-57.51%	-16.29%	359.84%
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%	-2.26%
EPS (Basic)	0.55	1.44	1.83	4.05	4.47
EPS (Diluted)	0.55	1.44	1.83	4.05	4.47
EPS Growth	-61.81%	-21.31%	-54.82%	-9.40%	370.53%
Shares Outstanding	4,269	4,269	4,300	4,483	4,840
Free Cash Flow	2,795	2,919	7,245	55,007	113,469
Free Cash Flow Growth	-4.25%	-59.71%	-86.83%	-51.52%	79.37%
Free Cash Flow Per Share	0.65	0.68	1.66	11.85	22.62
Dividends Per Share	5.477	4.757	6.987	5.691	14.094
Dividend Growth	15.13%	-31.92%	22.78%	-59.62%	111.33%
Gross Margin	35.04%	36.24%	42.35%	45.19%	60.13%
Operating Margin	15.36%	28.35%	34.00%	39.25%	50.81%
Profit Margin	5.16%	15.70%	19.40%	38.34%	45.58%
FCF Margin	7.28%	7.67%	17.34%	125.48%	208.19%
EBITDA	9,002	13,845	17,275	20,379	30,727
EBITDA Margin	23.44%	36.38%	41.34%	46.49%	56.38%
EBIT	5,897	10,788	14,205	17,208	27,693
EBIT Margin	15.36%	28.35%	34.00%	39.25%	50.81%
Effective Tax Rate	57.38%	10.77%	27.32%	15.02%	15.90%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q