VALE3 · B3 · Mining
Vale
We own 38 shares · in the portfolio for 5 days
- Since we bought
- −4.8%
- Ibovespa, same period
- −4.4%
At the close of 30 Oct 2026. Includes dividends declared since purchase.
Why we own it
Most of Vale’s revenue is in dollars, so it tends to hold up when Brazilian assets fall. It rose 5% on the day of the post-election sell-off.
It is also the largest weight in the Ibovespa, which keeps the portfolio from drifting too far from the index.
What could go wrong
- Iron ore prices fall with Chinese demand.
- New dam-related liabilities or regulatory penalties.
What would make us sell
Written before we bought. A falling price is not on this list.
- A material regulatory or reparations event.
- Evidence that it no longer protects the portfolio when Brazil sells off.
Twelve months against the Ibovespa
| Date | Vale | Ibovespa |
|---|---|---|
| 31 Oct 2025 | 0.0% | 0.0% |
| 5 Nov 2025 | +0.7% | +2.5% |
| 10 Nov 2025 | −0.1% | +3.8% |
| 13 Nov 2025 | +0.6% | +5.1% |
| 18 Nov 2025 | −0.4% | +4.7% |
| 24 Nov 2025 | −0.3% | +3.8% |
| 27 Nov 2025 | +1.6% | +5.9% |
| 2 Dec 2025 | +4.9% | +7.7% |
| 5 Dec 2025 | +7.6% | +5.2% |
| 10 Dec 2025 | +8.9% | +6.4% |
| 15 Dec 2025 | +10.9% | +8.7% |
| 18 Dec 2025 | +13.0% | +5.6% |
| 23 Dec 2025 | +17.1% | +7.3% |
| 30 Dec 2025 | +15.6% | +7.7% |
| 6 Jan 2026 | +21.9% | +9.4% |
| 9 Jan 2026 | +20.0% | +9.2% |
| 14 Jan 2026 | +26.8% | +10.4% |
| 19 Jan 2026 | +26.2% | +10.2% |
| 22 Jan 2026 | +33.3% | +17.4% |
| 27 Jan 2026 | +36.4% | +21.7% |
| 30 Jan 2026 | +35.4% | +21.3% |
| 4 Feb 2026 | +43.6% | +21.5% |
| 9 Feb 2026 | +40.2% | +24.5% |
| 12 Feb 2026 | +43.3% | +25.6% |
| 19 Feb 2026 | +35.1% | +26.1% |
| 24 Feb 2026 | +40.9% | +28.1% |
| 27 Feb 2026 | +42.1% | +26.2% |
| 4 Mar 2026 | +35.1% | +24.0% |
| 9 Mar 2026 | +27.3% | +21.0% |
| 12 Mar 2026 | +27.3% | +19.9% |
| 17 Mar 2026 | +26.8% | +20.6% |
| 20 Mar 2026 | +21.3% | +17.8% |
| 25 Mar 2026 | +27.8% | +24.0% |
| 30 Mar 2026 | +27.7% | +22.1% |
| 2 Apr 2026 | +34.2% | +25.8% |
| 8 Apr 2026 | +37.5% | +28.5% |
| 13 Apr 2026 | +40.3% | +32.4% |
| 16 Apr 2026 | +40.4% | +31.6% |
| 22 Apr 2026 | +40.1% | +29.0% |
| 27 Apr 2026 | +37.3% | +26.8% |
| 30 Apr 2026 | +30.4% | +25.3% |
| 6 May 2026 | +30.5% | +25.5% |
| 11 May 2026 | +34.0% | +21.6% |
| 14 May 2026 | +33.1% | +19.3% |
| 19 May 2026 | +30.1% | +16.5% |
| 22 May 2026 | +33.5% | +17.8% |
| 27 May 2026 | +34.0% | +17.5% |
| 1 Jun 2026 | +31.2% | +15.2% |
| 5 Jun 2026 | +26.4% | +13.0% |
| 10 Jun 2026 | +24.8% | +12.8% |
| 15 Jun 2026 | +30.4% | +14.0% |
| 18 Jun 2026 | +28.4% | +12.5% |
| 23 Jun 2026 | +27.5% | +14.5% |
| 26 Jun 2026 | +25.5% | +15.9% |
| 1 Jul 2026 | +25.2% | +14.8% |
| 6 Jul 2026 | +24.9% | +15.3% |
| 9 Jul 2026 | +17.5% | +15.5% |
| 14 Jul 2026 | +18.9% | +18.1% |
| 17 Jul 2026 | +17.1% | +16.2% |
| 22 Jul 2026 | +20.6% | +18.7% |
| 27 Jul 2026 | +21.6% | +17.2% |
| 30 Jul 2026 | +22.2% | +18.5% |
| 4 Aug 2026 | +22.6% | +19.0% |
| 7 Aug 2026 | +20.4% | +15.4% |
| 12 Aug 2026 | +20.4% | +12.0% |
| 17 Aug 2026 | +17.5% | +11.5% |
| 20 Aug 2026 | +21.8% | +12.3% |
| 25 Aug 2026 | +29.5% | +16.7% |
| 28 Aug 2026 | +29.3% | +17.5% |
| 2 Sep 2026 | +32.9% | +23.8% |
| 8 Sep 2026 | +30.0% | +25.3% |
| 11 Sep 2026 | +28.6% | +25.2% |
| 16 Sep 2026 | +20.1% | +24.1% |
| 21 Sep 2026 | +19.3% | +24.8% |
| 24 Sep 2026 | +16.2% | +23.0% |
| 29 Sep 2026 | +14.5% | +22.9% |
| 2 Oct 2026 | +18.6% | +28.5% |
| 7 Oct 2026 | +13.1% | +36.6% |
| 13 Oct 2026 | +10.5% | +38.3% |
| 16 Oct 2026 | +8.9% | +37.4% |
| 21 Oct 2026 | +5.3% | +38.1% |
| 26 Oct 2026 | +5.9% | +18.1% |
| 29 Oct 2026 | −1.2% | +13.1% |
| 30 Oct 2026 | +2.0% | +12.3% |
Valuation
- Price to earningsPrice ÷ last 12 months’ earnings per share
- 25.7×
- Price to bookPrice ÷ equity per share
- 1.4×
- EV to EBITDA
- 6.4×
- Dividend yieldLast 12 months
- 9.0%
- Market value
- R$ 266.6 bn
Profitability
- Return on equity
- 5.3%
- Return on assets
- 1.9%
- Gross margin
- 34.9%
- EBITDA margin
- 23.8%
- Net margin
- 4.0%
Growth
- Revenue, latest quarter vs a year ago
- +4.0%
- Earnings, latest quarter vs a year ago
- −64.2%
- Revenue, last full year
- +3.7%
- Earnings, last full year
- −56.3%
Balance sheet
- Cash
- R$ 29.8 bn
- Total debt
- R$ 98.0 bn
- Net debt to EBITDA
- 1.3×
- Debt to equity
- 0.5
- Current ratio
- 1.19
Risk, last 12 months
- Total returnIncluding dividends
- +2.0%
- VolatilityAnnualised, daily returns
- 28%
- Largest fall from a peak
- −31.7%
- Beta to the Ibovespa1.0 moves with the index
- 0.38
- Below its 12-month high
- −31.2%
Dividends
- Paid per share, last 12 months
- R$ 5.6125
Five years of results
| Year | Revenue | Net income | Earnings per share | Equity | Return on equity |
|---|---|---|---|---|---|
| 2025 | R$ 213.6 bn | R$ 11.8 bn | R$ 3.24 | R$ 188.9 bn | 6.3% |
| 2024 | R$ 206.0 bn | R$ 30.4 bn | R$ 7.39 | R$ 213.7 bn | 14.2% |
| 2023 | R$ 208.1 bn | R$ 40.6 bn | R$ 9.15 | R$ 198.3 bn | 20.4% |
| 2022 | R$ 226.5 bn | R$ 96.3 bn | R$ 20.67 | R$ 194.9 bn | 49.4% |
| 2021 | R$ 293.5 bn | R$ 121.3 bn | R$ 24.18 | R$ 197.1 bn | 61.6% |
Annual consolidated statements as reported to the CVM, via brapi.
Company profile
- Sector
- Materiais Básicos
- Industry
- Mineração de Minerais Metálicos
- Employees
- 64,610
- Website
- www.vale.com
Data as of the close of 30 Oct 2026. Market data from brapi.dev; financial statements as filed with the CVM. Ratios are provider estimates and may differ from company reports.