Vale S.A. (VALE)
NYSE: VALE · Real-Time Price · USD
11.50
-0.47 (-3.93%)
Nov 10, 2026, 11:01 AM EST - Market open
Vale S.A. Cash Flow Statement
Financials in millions BRL. Fiscal year is January - December.
Millions BRL. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | 2,188 | 13,814 | 31,592 | 39,940 | 95,924 | 121,228 |
Depreciation & Amortization | 18,219 | 17,063 | 16,238 | 15,300 | 16,386 | 16,379 |
Other Amortization | 224 | 243 | 287 | - | - | - |
Loss (Gain) From Sale of Assets | - | - | - | - | - | 1,171 |
Asset Writedown & Restructuring Costs | 22,738 | 25,147 | -510 | 1,317 | -3,833 | 1,181 |
Loss (Gain) on Equity Investments | 2,341 | 1,170 | 1,570 | 5,434 | -1,616 | 6,947 |
Other Operating Activities | 5,481 | -6,746 | -405 | 8,022 | -40,950 | -9,323 |
Change in Accounts Receivable | -3,018 | 907 | 8,185 | 1,591 | -1,812 | 4,604 |
Change in Inventory | -3,559 | -6,068 | -2,462 | -1,116 | 211 | -2,572 |
Change in Accounts Payable | 5,740 | 4,593 | -2,015 | 3,098 | 2,283 | 1,286 |
Change in Other Net Operating Assets | -502 | -1,358 | -2,281 | -7,681 | -8,605 | -2,403 |
Operating Cash Flow | 49,852 | 48,765 | 50,199 | 65,905 | 58,201 | 136,766 |
Operating Cash Flow Growth | -2.49% | -2.86% | -23.83% | 13.24% | -57.45% | 81.85% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -31,794 | -33,390 | -35,098 | -29,446 | -28,184 | -27,301 |
Investment in Securities | 1,384 | 6,539 | 13,433 | -84 | 4,323 | 6,219 |
Other Investing Activities | -1,416 | -11,612 | -9,116 | -1,895 | -315 | -14,206 |
Investing Cash Flow | -31,826 | -38,463 | -30,781 | -31,425 | -24,176 | -35,288 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Long-Term Debt Issued | - | 30,480 | 26,701 | 9,585 | 6,764 | 5,165 |
Long-Term Debt Repaid | - | -9,270 | -15,452 | -4,374 | -12,918 | -11,911 |
Lease Payments | -1,023 | -971 | -1,108 | -1,159 | -1,154 | -1,152 |
Net Debt Issued (Repaid) | 364 | 21,210 | 11,249 | 5,211 | -6,154 | -6,746 |
Repurchase of Common Stock | -1,091 | - | -2,054 | -13,593 | -30,640 | -29,121 |
Common Dividends Paid | -23,605 | -19,971 | -20,663 | -27,967 | -34,092 | -73,112 |
Other Financing Activities | - | - | - | -653 | -119 | -247 |
Financing Cash Flow | -24,332 | 1,239 | -11,468 | -37,002 | -71,005 | -109,226 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -661 | -1,649 | 5,247 | -4,715 | -3,657 | 3,071 |
Miscellaneous Cash Flow Adjustments | 658 | - | - | - | -61 | - |
Net Cash Flow | -6,309 | 9,892 | 13,197 | -7,237 | -40,698 | -4,677 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 18,058 | 15,375 | 15,101 | 36,459 | 30,017 | 109,465 |
Free Cash Flow Growth | 12.29% | 1.81% | -58.58% | 21.46% | -72.58% | 104.65% |
Free Cash Flow Margin | 8.37% | 7.20% | 7.33% | 17.52% | 13.25% | 37.29% |
Free Cash Flow Per Share | 4.23 | 3.60 | 3.53 | 8.34 | 6.47 | 21.82 |
Levered Free Cash Flow | 8,636 | 15,446 | 36,699 | 4,231 | 33,358 | 84,777 |
Unlevered Free Cash Flow | 18,348 | 25,039 | 45,920 | 13,534 | 36,043 | 89,698 |
Free Cash Flow After Leases | 17,035 | 14,404 | 13,993 | 35,300 | 28,863 | 108,313 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 5,465 | 5,590 | 4,710 | 3,695 | 5,902 | 6,137 |
Cash Income Tax Paid | 6,245 | 11,113 | 9,976 | 9,374 | 24,068 | 23,607 |
Change in Working Capital | -1,339 | -1,926 | 1,427 | -4,108 | -7,923 | 915 |