Vale S.A. (VALE) income statement
NYSE · Basic Materials · Industrial Materials · 65,805 employees · CEO Gustavo Duarte Pimenta
- Price
- $11.39 +1.88%
- Market cap
- $48.5B
- Enterprise value
- $59.6B
- Last report
- Q3 '26 filed 2026-10-30
- Next report
- 2027-02-11 EPS est. $0.44
Vale S.A. (VALE) reported revenue of $10.6B for Q3 '26 (+1.9% year on year), operating income of $2.02B (19.1% of revenue) and net income of $1.25B. Over the last four quarters revenue was $41.4B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13B | $8.46B | $9.92B | $9.55B | $9.6B | $8.12B | $8.8B | $10.4B | $11.1B | $9.26B | $10.5B | $10.6B | |
| Cost of revenue | $6.91B | $5.37B | $6.35B | $6.28B | $5.94B | $5.45B | $6.09B | $6.61B | $6.98B | $6.2B | $7.27B | $8.02B | |
| Gross profit | $6.11B | $3.09B | $3.57B | $3.27B | $3.66B | $2.67B | $2.72B | $3.79B | $4.08B | $3.06B | $3.22B | $2.58B | |
| Research & development | $230M | $156M | $189M | $192M | $253M | $123M | $159M | $150M | $395M | $130M | $185M | $189M | |
| Sales & marketing | -$39M | $0 | $21M | -$33.2M | $21M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| General & administrative | $175M | $130M | $107M | $485M | $162M | $121M | $124M | $0 | $0 | $0 | $0 | $0 | |
| Other operating expenses | $573M | $358M | -$621M | -$1.05B | $2.23B | $625M | $432M | $82.2M | $589M | $114M | $202M | $229M | |
| Operating expenses | $940M | $644M | -$304M | -$403M | $2.67B | $869M | $715M | $374M | $1.17B | $386M | $547M | $565M | |
| Operating income | $5.17B | $2.45B | $3.88B | $3.68B | $991M | $1.8B | $2B | $3.42B | $2.91B | $2.67B | $2.67B | $2.02B | |
| Interest income | $64M | $81M | $74.8M | $86.7M | $152M | $98.2M | $94.8M | $120M | $119M | $110M | $101M | $89M | |
| Interest expense | $346M | $325M | $341M | $352M | $508M | $330M | $379M | $374M | $443M | $406M | $357M | $381M | |
| Other non-operating income (gains on investments, FX ...) | $538M | $59M | $615M | $676M | -$1.76B | -$529M | -$521M | $433M | $4.62B | -$185M | $0 | $0 | |
| Total non-operating income | -$2.02B | -$313M | -$1.14B | -$948M | -$1.89B | $244M | $99M | -$806M | -$5.06B | -$221M | -$912M | -$487M | |
| Income before tax | $3.15B | $2.14B | $2.74B | $2.73B | -$901M | $2.04B | $2.1B | $2.61B | -$2.15B | $2.45B | $1.76B | $1.53B | |
| Income tax | $709M | $448M | -$34M | $336M | -$29M | $647M | -$32M | -$81.5M | $2.16B | $510M | $367M | $261M | |
| Net income | $2.42B | $1.68B | $2.77B | $2.41B | -$756M | $1.39B | $2.12B | $2.68B | -$3.9B | $1.89B | $1.35B | $1.25B | |
| EPS (basic) | $0.56 | $0.39 | $0.65 | $0.57 | -$0.18 | $0.33 | $0.50 | $0.63 | -$0.91 | $0.44 | $0.32 | $0.29 | |
| EPS (diluted) | $0.56 | $0.39 | $0.65 | $0.56 | -$0.18 | $0.33 | $0.50 | $0.63 | -$0.91 | $0.44 | $0.32 | $0.29 | |
| Shares (basic, weighted) | 4.3B | 4.28B | 4.27B | 4.27B | 4.23B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | 4.26B | 4.26B | |
| Shares (diluted, weighted) | 4.32B | 4.28B | 4.28B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | 4.27B | |
| Depreciation & amortization | $818M | $714M | $793M | $748M | $802M | $704M | $780M | $693M | $953M | $812M | $786M | $908M | |
| EBITDA | $5.45B | $3.1B | $4.05B | $3.75B | $3.55B | $3.03B | $3.31B | $3.68B | -$753M | $3.67B | $3.46B | $2.93B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.5B | $34B | $36.6B | $36B | $39.5B | $54.5B | $43.8B | $41.8B | $38.1B | $38.2B | |
| Cost of revenue | $17.7B | $21B | $22.1B | $19B | $17.6B | $21.7B | $24B | $24.1B | $24.3B | $25.1B | |
| Gross profit | $9.84B | $12.9B | $14.5B | $17B | $22B | $32.8B | $19.8B | $17.7B | $13.8B | $13.1B | |
| Research & development | $319M | $340M | $373M | $409M | $415M | $549M | $660M | $720M | $790M | $689M | |
| Sales & marketing | $8M | $103M | $95M | $6.47M | $98M | $27M | $108M | $26M | $21M | $0 | |
| General & administrative | $366M | $428M | $366M | $1.59B | $344M | $412M | $366M | $480M | $545M | $0 | |
| Other operating expenses | -$66M | -$149M | -$187M | $11.1B | $8.3B | $4.09B | $1.47B | $2.26B | $1.65B | $802M | |
| Operating expenses | $1.65B | $1.7B | $1.61B | $13.1B | $9.16B | $5.08B | $2.6B | $3.49B | $3B | $2.06B | |
| Operating income | $7.05B | $10.9B | $12B | $3.83B | $12.8B | $27.7B | $17.2B | $14.2B | $10.8B | $11.1B | |
| Interest income | $96.4M | $481M | $423M | $249M | $125M | $226M | $440M | -$176M | $155M | $431M | |
| Interest expense | $2.15B | $3.28B | $1.54B | $3.64B | $2.75B | $1.94B | $1.19B | $1.34B | $1.14B | $1.56B | |
| Other non-operating income (gains on investments, FX ...) | -$1.65B | $333M | $3.4B | -$10.6B | $3.48B | -$3.4B | -$3.36B | $1.72B | $2.77B | $4.75B | |
| Total non-operating income | -$399M | -$3.1B | -$5.14B | -$3.97B | -$5.83B | $1.85B | $2.57B | -$3.05B | -$4.09B | -$6.3B | |
| Income before tax | $7.98B | $7.83B | $6.82B | -$143M | $6.99B | $29.5B | $19.8B | $11.2B | $6.7B | $4.78B | |
| Income tax | $2.78B | $1.5B | -$172M | -$624M | $735M | $4.7B | $2.97B | $3.05B | $721M | $2.66B | |
| Net income | $3.98B | $5.51B | $6.86B | -$1.66B | $4.88B | $22.4B | $18.8B | $7.98B | $6.17B | $2.47B | |
| EPS (basic) | $0.77 | $1.05 | $1.32 | -$0.43 | $1.01 | $4.48 | $4.05 | $1.83 | $1.37 | $0.58 | |
| EPS (diluted) | $0.77 | $1.05 | $1.32 | -$0.43 | $1.01 | $4.48 | $4.05 | $1.83 | $1.37 | $0.58 | |
| Shares (basic, weighted) | 5.2B | 5.2B | 5.18B | 5.13B | 5.13B | 5.01B | 4.64B | 4.37B | 4.23B | 4.27B | |
| Shares (diluted, weighted) | 5.2B | 5.2B | 5.2B | 5.13B | 5.13B | 5.01B | 4.64B | 4.37B | 4.27B | 4.27B | |
| Depreciation & amortization | $3.49B | $3.71B | $3.35B | $3.49B | $3.22B | $3.03B | $3.17B | $3.07B | $2.79B | $3.04B | |
| EBITDA | $13.5B | $14.3B | $11.9B | $18B | $12.6B | $34.1B | $23.7B | $15.6B | $10.8B | $9.37B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates: Financial Modeling Prep.
Data as of 2026-11-02