Vale S.A.
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
4.274.374.263.51
Price/Sales ratio
1.141.131.081.04
Earnings per Share (EPS)
$2.27$2.22$2.28$2.77

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
64.16-1.399.9412.059.95-31.0417.613.134.188.674.104.10
Price/Sales ratio
1.100.661.441.951.861.802.141.281.791.650.921.80
Price/Book Value ratio
0.770.501.011.481.551.682.402.032.191.750.991.68
Price/Cash Flow ratio
3.293.776.015.295.295.586.002.736.855.163.385.58
Price/Free Cash Flow ratio
42.40-4.3624.297.627.518.058.693.4013.039.407.587.51
Price/Earnings Growth ratio
3.520.00-0.070.330.380.23-0.050.00-0.39-0.15-0.170.23
Dividend Yield
N/A8.84%0.63%2.19%4.85%N/A4.21%19.32%8.40%8.08%11.30%4.85%
Profitability Indicator Ratios
Gross Profit Margin
32.62%19.89%35.79%38.06%39.55%43.60%52.42%60.13%45.19%42.34%38.80%43.60%
Operating Profit Margin
18.77%-23.94%25.65%32.17%32.68%35.95%41.77%50.81%39.25%33.99%36.16%32.68%
Pretax Profit Margin
4.06%-69.19%29.04%23.04%18.63%-7.38%12.41%54.20%45.12%29.22%28.46%18.63%
Net Profit Margin
1.71%-47.36%14.48%16.21%18.75%-5.80%12.19%41.18%42.85%19.10%22.65%18.75%
Effective Tax Rate
77.26%28.78%34.83%19.09%-2.52%21.44%8.81%15.89%15.01%24.94%12.35%-2.52%
Return on Assets
0.56%-13.70%4.02%5.55%7.77%-2.37%5.30%25.09%21.62%8.47%10.43%7.77%
Return On Equity
1.20%-36.11%10.19%12.30%15.59%-5.44%13.65%65.11%52.38%20.23%24.41%15.59%
Return on Capital Employed
6.78%-7.86%8.03%12.69%15.11%17.34%21.59%37.3%23.57%17.84%20.09%15.11%
Liquidity Ratios
Current Ratio
1.881.462.001.441.671.231.67N/AN/AN/A0.901.23
Quick Ratio
1.461.131.711.141.190.921.391.180.790.960.580.92
Cash ratio
0.370.340.370.330.630.530.920.770.340.240.300.53
Days of Sales Outstanding
52.9741.4970.3060.7538.8536.7152.4632.0446.5544.3633.1136.71
Days of Inventory outstanding
63.7762.7769.2568.1173.3473.6377.8573.5268.0870.7472.0373.63
Operating Cycle
116.74104.27139.56128.86112.20110.34130.32105.56114.63115.10105.14110.34
Days of Payables Outstanding
61.6959.8775.0670.1057.9870.7564.5458.3767.7679.8877.9657.98
Cash Conversion Cycle
55.0544.3964.4958.7654.2239.5965.7747.1946.8635.2227.1839.59
Debt Ratios
Debt Ratio
0.260.330.310.220.210.210.210.170.160.160.170.21
Debt Equity Ratio
0.560.880.790.500.430.480.550.450.380.380.410.48
Long-term Debt to Capitalization
0.340.440.420.310.270.290.330.290.270.260.280.27
Total Debt to Capitalization
0.360.470.440.330.300.320.350.310.270.270.290.32
Interest Coverage Ratio
5.882.895.305.837.485.457.62N/AN/AN/A8.517.48
Cash Flow to Debt Ratio
0.410.150.210.550.680.620.721.640.820.870.710.68
Company Equity Multiplier
2.122.632.532.212.002.282.572.592.422.382.322.00
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.330.170.230.360.350.320.350.470.260.320.270.32
Free Cash Flow / Operating Cash Flow Ratio
0.07-0.860.240.690.700.690.690.800.520.540.440.69
Cash Flow Coverage Ratio
0.410.150.210.550.680.620.721.640.820.870.710.68
Short Term Coverage Ratio
7.421.502.827.366.035.008.8024.9337.4116.2513.366.03
Dividend Payout Ratio
N/A-12.36%6.27%26.43%48.29%N/A74.30%60.50%35.20%70.13%65.65%48.29%