VALE (Vale S.A.) Stock Financials & Earnings | Market Cap Arena

VALE (Vale S.A.) Stock Financials & Earnings | Market Cap Arena

VALEVale S.A.

Mkt Cap$67B

Basic Materials·Industrial Materials·🇧🇷 Brazil·NYSE

Revenue (TTM)$38.4B

Net Income (TTM)$2.3B

EPS (TTM)$0.55

Free Cash Flow (TTM)$3.1B

Gross Margin34.5%

Op. Margin26.4%

Net Margin6.0%

FCF Margin8.0%

P/S Ratio (TTM)1.7x

P/E Ratio (TTM)29.2x

YoY Rev Growth+2.3%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$8.4B	$3.5B	$2.9B
Q2 23	$9.7B	$3.7B	$2.9B
Q3 23	$10.6B	$4.3B	$3.3B
Q4 23	$13.0B	$6.1B	$5.2B
Q1 24	$8.5B	$3.1B	$2.4B
Q2 24	$9.9B	$3.6B	$3.9B
Q3 24	$9.6B	$3.3B	$3.7B
Q4 24	$9.6B	$3.7B	$991M
Q1 25	$8.1B	$2.7B	$1.8B
Q2 25	$8.8B	$2.7B	$2.0B
Q3 25	$10.4B	$3.8B	$3.4B
Q4 25	$11.1B	$4.1B	$2.9B

Valuation

Quarter	P/S	P/E
Q1 23	1.6x	4.1x
Q2 23	1.7x	6.1x
Q3 23	1.6x	7.2x
Q4 23	1.6x	8.4x
Q1 24	1.6x	8.5x
Q2 24	1.6x	6.9x
Q3 24	1.6x	7.2x
Q4 24	1.8x	10.9x
Q1 25	1.8x	11.5x
Q2 25	1.9x	12.9x
Q3 25	1.8x	12.3x
Q4 25	1.7x	29.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$3.6B	$2.5B
Q2 23	$1.9B	$692M
Q3 23	$2.9B	$1.4B
Q4 23	$4.8B	$2.6B
Q1 24	$3.6B	$2.2B
Q2 24	$1.2B	-$117M
Q3 24	$1.6B	$197M
Q4 24	$2.9B	$586M
Q1 25	$1.7B	$424M
Q2 25	$1.9B	$732M
Q3 25	$2.6B	$1.2B
Q4 25	$2.9B	$723M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$1.1B
Q2 23	$1.2B
Q3 23	$1.5B
Q4 23	$2.1B
Q1 24	$1.4B
Q2 24	$1.3B
Q3 24	$1.4B
Q4 24	$2.3B
Q1 25	$1.3B
Q2 25	$1.2B
Q3 25	$1.4B
Q4 25	$2.2B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-22.0%	+31.8%
Q2 23	-13.3%	-0.9%
Q3 23	+7.0%	+3.4%
Q4 23	+9.7%	-6.5%
Q1 24	+0.3%	+8.2%
Q2 24	+2.6%	-11.1%
Q3 24	-10.1%	-20.0%
Q4 24	-26.2%	+9.8%
Q1 25	-4.0%	+5.1%
Q2 25	-11.3%	+12.5%
Q3 25	+8.9%	+18.9%
Q4 25	+15.2%	-5.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$139M	$107M	$11M	—
Q2 23	$165M	$125M	—	—
Q3 23	$188M	$112M	$26M	—
Q4 23	$230M	$175M	—	—
Q1 24	$156M	$130M	—	—
Q2 24	$189M	$107M	$21M	—
Q3 24	$192M	$485M	—	—
Q4 24	$253M	$162M	$21M	—
Q1 25	$123M	$121M	—	—
Q2 25	$159M	$124M	—	—
Q3 25	$150M	—	—	$142M
Q4 25	$395M	—	—	$183M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$4.7B	$53M	$4.8B
Q2 23	$5.0B	$46M	$5.0B
Q3 23	$4.0B	$60M	$4.0B
Q4 23	$3.6B	$51M	$3.7B
Q1 24	$3.8B	$44M	$3.8B
Q2 24	$6.5B	$61M	$6.5B
Q3 24	$4.6B	$53M	$4.6B
Q4 24	$5.0B	$54M	$5.0B
Q1 25	$4.0B	$43M	$4.0B
Q2 25	$5.5B	$182M	$5.7B
Q3 25	$5.9B	$188M	$6.1B
Q4 25	$7.4B	$195M	$7.6B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	4.46B	-1.1%
Q2 23	4.40B	-1.3%
Q3 23	4.32B	-1.9%
Q4 23	4.32B	+0.1%
Q1 24	4.28B	-0.9%
Q2 24	4.28B	-0.0%
Q3 24	4.27B	-0.1%
Q4 24	4.27B	-0.1%
Q1 25	4.27B	+0.1%
Q2 25	4.27B	+0.0%
Q3 25	4.27B	+0.0%
Q4 25	4.27B	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$500K	77K
FY 15	$346K	74K
FY 16	$376K	73K
FY 17	$462K	74K
FY 18	$520K	70K
FY 19	$506K	71K
FY 20	$532K	74K
FY 21	$754K	72K
FY 22	$680K	65K
FY 23	$625K	67K
FY 24	$589K	65K
FY 25	$592K	65K