Vale S.A. (VALE) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 16.74B | 18.37B | 16.46B | 17.59B | 14.69B | 13.5B | 13.8B | 14.83B | 17.49B | 18.64B | 14.67B | 15.55B | 14.51B | 15.53B | 13.92B | 16.02B | 19.46B | 22.36B | 19.99B | 25.4B |
| Cash & Short-Term Investments | 5.28B | 7.6B | 6.08B | 5.7B | 4B | 5.01B | 4.65B | 6.54B | 3.83B | 3.66B | 4.03B | 5.03B | 4.76B | 4.8B | 5.22B | 7.23B | 9.1B | 11.9B | 12.6B | 14.6B |
| Cash Only | 5.08B | 7.4B | 5.89B | 5.51B | 3.96B | 4.96B | 4.6B | 6.48B | 3.79B | 3.61B | 3.97B | 4.98B | 4.71B | 4.74B | 5.18B | 7.18B | 9.06B | 11.72B | 10.86B | 13.65B |
| Short-Term Investments | 193.8M | 194.53M | 188.15M | 182M | 43M | 53.52M | 53M | 61M | 44.15M | 51.47M | 60M | 46M | 53M | 61M | 42M | 48M | 43M | 184M | 1.74B | 951M |
| Accounts Receivable | 3.71B | 3.82B | 3.73B | 3.74B | 3.24B | 3.46B | 3.72B | 2.99B | 3.07B | 5.08B | 4.71B | 4.47B | 4.04B | 5.59B | 3.01B | 2.89B | 3.96B | 4.78B | 1.7B | 5.62B |
| Days Sales Outstanding | 36.58 | 31.4 | 33.02 | 36.05 | 37.12 | 34.36 | 32.3 | 27.79 | 43.82 | 34.58 | 39.73 | 40.03 | 51.39 | 33.33 | 27.33 | 27.92 | 36.37 | 22.67 | 27.31 | 26.87 |
| Inventory | 6.13B | 5.96B | 5.56B | 5.24B | 4.92B | 4.61B | 4.95B | 4.79B | 5.19B | 4.67B | 5.11B | 5.19B | 4.99B | 4.48B | 5.27B | 5.15B | 5.04B | 4.38B | 5.08B | 4.7B |
| Days Inventory Outstanding | 87.71 | 75.9 | 75.12 | 75.98 | 78.67 | 73.96 | 71.34 | 71.51 | 83.54 | 65.14 | 75.15 | 78.02 | 86.14 | 63.06 | 76.09 | 77.94 | 91.66 | 66.87 | 82.27 | 74.72 |
| Other Current Assets | 1.62B | 991.1M | 1.09B | 2.91B | 2.53B | 416.3M | 490M | 505M | 5.44B | 5.87B | 829M | 856M | 726M | 656M | 422M | 743M | 1.37B | 1.3B | 610M | 480M |
| Total Non-Current Assets | 70.81B | 68.52B | 74.6B | 72.8B | 68.74B | 66.67B | 75.09B | 71.79B | 74.01B | 75.23B | 74.32B | 75.97B | 73.04B | 71.37B | 66.69B | 68.34B | 73.68B | 67.08B | 66.89B | 71.31B |
| Property, Plant & Equipment | 45.64B | 43.8B | 45.24B | 44.29B | 41.93B | 40.03B | 46.09B | 44.58B | 47.46B | 48.23B | 47.75B | 48.67B | 46.03B | 44.94B | 42.2B | 43.17B | 46.31B | 41.93B | 41.09B | 43.88B |
| Fixed Asset Turnover | 0.21x | 0.25x | 0.23x | 0.20x | 0.20x | 0.22x | 0.21x | 0.22x | 0.18x | 0.27x | 0.22x | 0.20x | 0.19x | 0.27x | 0.23x | 0.25x | 0.25x | 0.32x | 0.29x | 0.40x |
| Goodwill | 1.37B | 1.3B | 3.04B | 3.05B | 2.9B | 3.04B | 3.33B | 3.01B | 3.18B | 3.25B | 3.25B | 3.34B | 3.23B | 3.19B | 3.12B | 3.27B | 3.47B | 3.21B | 3.25B | 3.4B |
| Intangible Assets | 7.99B | 7.69B | 7.88B | 7.67B | 7.28B | 7.49B | 8.21B | 7.18B | 8.07B | 8.37B | 7.34B | 7.66B | 7.22B | 7.05B | 6.23B | 6.18B | 6.8B | 5.8B | 5.67B | 7.59B |
| Long-Term Investments | 6.12B | 5.91B | 6.06B | 4.84B | 4.68B | 4.61B | 4.79B | 3.76B | 2.84B | 3.2B | 1.95B | 1.93B | 1.79B | 1.8B | 1.8B | 1.8B | 1.93B | 1.76B | 2.1B | 3.29B |
| Other Non-Current Assets | 3.67B | 3.47B | 3.5B | 3.97B | 3.64B | 11.45B | 2.79B | 3.32B | 2.76B | 2.63B | 4.35B | 4.47B | 3.97B | 3.62B | 3.52B | 3.56B | 3.98B | 2.94B | 3.38B | 3.8B |
| Total Assets | 87.55B | 86.88B | 91.06B | 90.38B | 83.43B | 80.25B | 88.89B | 86.61B | 91.51B | 93.87B | 88.99B | 91.52B | 87.55B | 86.89B | 80.61B | 84.36B | 93.15B | 89.44B | 86.88B | 96.72B |
| Asset Turnover | 0.11x | 0.12x | 0.11x | 0.10x | 0.10x | 0.11x | 0.11x | 0.11x | 0.09x | 0.14x | 0.12x | 0.11x | 0.10x | 0.14x | 0.12x | 0.13x | 0.12x | 0.15x | 0.13x | 0.18x |
| Asset Growth % | 4.94% | 8.26% | 2.45% | 4.35% | -8.82% | -14.51% | -0.12% | -5.36% | 4.52% | 8.03% | 10.39% | 8.49% | -6.01% | -2.85% | -7.22% | -12.78% | 7.09% | -2.79% | 8.63% | 16.64% |
| Total Current Liabilities | 13.5B | 15.94B | 13.31B | 14.47B | 13.23B | 13.11B | 15.17B | 13.74B | 15.65B | 14.61B | 13.64B | 13.56B | 12.98B | 13.89B | 12.99B | 12.12B | 14.67B | 15.2B | 16.07B | 14.34B |
| Accounts Payable | 5.49B | 5.59B | 5.64B | 5.45B | 4.4B | 4.23B | 5.35B | 4.77B | 5.55B | 5.27B | 5.58B | 5.24B | 4.46B | 4.46B | 4.74B | 3.66B | 3.45B | 3.48B | 4.1B | 3.78B |
| Days Payables Outstanding | 80.33 | 73.99 | 77.18 | 73.7 | 71.3 | 74.19 | 74.13 | 73.92 | 91.71 | 72.27 | 78.91 | 74.33 | 81.15 | 59.47 | 61.32 | 54.37 | 67.38 | 53.51 | 66.18 | 57.36 |
| Short-Term Debt | 757.19M | 680.87M | 643.88M | 685M | 608M | 1.02B | 842M | 910M | 1.29B | 824M | 779M | 713M | 355M | 307M | 290M | 773M | 1.1B | 1.03B | 1.48B | 1.18B |
| Deferred Revenue (Current) | 0 | 0 | 0 | 539M | 517M | 467M | 641M | 680M | 745M | 591M | 1.36B | 1.36B | 1.16B | 416M | 1.23B | 1.24B | 1.42B | 1.68B | 1.09B | 1.16B |
| Other Current Liabilities | 5.48B | 7.41B | 5B | 4.74B | 4.56B | 2.87B | 4.21B | 3.98B | 4.77B | 5.14B | 3.05B | 3.04B | 3.08B | 4.39B | 3.18B | 3.23B | 4.48B | 3.64B | 4.17B | 4B |
| Current Ratio | 1.24x | 1.15x | 1.24x | 1.22x | 1.11x | 1.03x | 0.91x | 1.08x | 1.12x | 1.28x | 1.08x | 1.15x | 1.12x | 1.12x | 1.07x | 1.32x | 1.33x | 1.47x | 1.24x | 1.77x |
| Quick Ratio | 0.79x | 0.78x | 0.82x | 0.85x | 0.74x | 0.68x | 0.58x | 0.73x | 0.79x | 0.96x | 0.70x | 0.76x | 0.73x | 0.80x | 0.67x | 0.90x | 0.98x | 1.18x | 0.93x | 1.44x |
| Cash Conversion Cycle | 43.96 | 33.31 | 30.96 | 38.33 | 44.49 | 34.13 | 29.5 | 25.38 | 35.65 | 27.45 | 35.97 | 43.71 | 56.38 | 36.92 | 42.1 | 51.49 | 60.66 | 36.04 | 43.39 | 44.23 |
| Total Non-Current Liabilities | 36.53B | 36.47B | 35.56B | 35.41B | 33.83B | 32.53B | 34B | 34.48B | 36.93B | 38.44B | 35.86B | 37.67B | 35.69B | 35.65B | 32.95B | 35.26B | 39.99B | 38.94B | 36.72B | 40.02B |
| Long-Term Debt | 17.59B | 18.2B | 17.35B | 18.91B | 17.16B | 16.01B | 14.98B | 15.31B | 14.58B | 14.52B | 14.18B | 14.23B | 13.96B | 13.6B | 13.04B | 13.48B | 17.21B | 14.57B | 16.37B | 17.56B |
| Capital Lease Obligations | 480.66M | 509.88M | 524.45M | 524M | 605M | 567.05M | 608M | 1.18B | 1.23B | 1.25B | 1.28B | 1.32B | 1.33B | 1.35B | 1.38B | 1.42B | 0 | 1.43B | 0 | 0 |
| Deferred Tax Liabilities | 81.58M | 107.3M | 65.72M | 127M | 175M | 445M | 966M | 806M | 847.06M | 866.68M | 1.34B | 1.41B | 1.38B | 1.41B | 1.61B | 1.76B | 1.83B | 1.88B | 1.93B | 1.99B |
| Other Non-Current Liabilities | 18.38B | 17.65B | 17.62B | 13.75B | 13.89B | 13.7B | 14.96B | 14.63B | 17.34B | 18.51B | 16.54B | 18.03B | 16.36B | 16.73B | 15.35B | 17.27B | 19.37B | 19.62B | 16.76B | 18.52B |
| Total Liabilities | 50.03B | 52.41B | 48.86B | 49.87B | 47.07B | 45.69B | 49.17B | 48.23B | 52.58B | 53.04B | 49.5B | 51.23B | 48.67B | 49.54B | 45.94B | 47.38B | 54.66B | 54.14B | 52.79B | 54.36B |
| Total Debt | 18.83B | 19.39B | 18.52B | 20.3B | 18.55B | 17.74B | 16.59B | 17.58B | 17.3B | 16.8B | 16.44B | 16.46B | 15.83B | 15.44B | 14.86B | 15.83B | 18.31B | 17.2B | 17.84B | 18.74B |
| Net Debt | 13.75B | 11.99B | 12.62B | 14.79B | 14.59B | 12.78B | 11.99B | 11.1B | 13.51B | 13.19B | 12.47B | 11.48B | 11.13B | 10.7B | 9.68B | 8.64B | 9.25B | 5.48B | 6.99B | 5.09B |
| Debt / Equity | 0.50x | 0.56x | 0.44x | 0.50x | 0.51x | 0.51x | 0.42x | 0.46x | 0.44x | 0.41x | 0.42x | 0.41x | 0.41x | 0.41x | 0.43x | 0.43x | 0.48x | 0.49x | 0.52x | 0.44x |
| Debt / EBITDA | 5.41x | 5.02x | 4.50x | 7.29x | 7.41x | 10.53x | 3.75x | 4.53x | 5.47x | 2.81x | 4.07x | 4.51x | 4.48x | 3.58x | 4.13x | 3.10x | 2.51x | 3.72x | 2.61x | 1.69x |
| Net Debt / EBITDA | 3.95x | 3.10x | 3.07x | 5.31x | 5.83x | 7.59x | 2.71x | 2.86x | 4.27x | 2.20x | 3.09x | 3.14x | 3.15x | 2.48x | 2.69x | 1.69x | 1.27x | 1.19x | 1.02x | 0.46x |
| Interest Coverage | 6.57x | 6.58x | 7.99x | 6.66x | 7.05x | 5.42x | 8.52x | 9.56x | 7.35x | 13.36x | 10.11x | 8.39x | 9.28x | - | 27.60x | 16.42x | 15.80x | 32.19x | 25.71x | 41.60x |
| Total Equity | 37.52B | 34.48B | 42.2B | 40.51B | 36.36B | 34.56B | 39.71B | 38.39B | 38.92B | 40.83B | 39.49B | 40.29B | 38.88B | 37.36B | 34.67B | 36.98B | 38.49B | 35.31B | 34.09B | 42.36B |
| Equity Growth % | 3.18% | -0.23% | 6.26% | 5.53% | -6.58% | -15.36% | 0.57% | -4.73% | 0.11% | 9.29% | 13.89% | 8.95% | 1.02% | 5.81% | 1.71% | -12.69% | 8.64% | 1.39% | 2.65% | 28.94% |
| Book Value per Share | 8.78 | 8.08 | 9.87 | 9.48 | 8.51 | 8.09 | 9.29 | 8.97 | 9.09 | 9.45 | 9.14 | 9.16 | 8.72 | 8.29 | 7.61 | 7.91 | 8.00 | 6.95 | 6.70 | 8.30 |
| Total Shareholders' Equity | 36.62B | 33.63B | 40.96B | 39.26B | 35.21B | 33.43B | 38.3B | 36.97B | 37.4B | 39.31B | 37.99B | 38.81B | 37.35B | 35.87B | 33.2B | 35.5B | 37.63B | 34.47B | 33.32B | 41.66B |
| Common Stock | 14.8B | 14.11B | 14.51B | 61.61B | 61.61B | 12.5B | 61.61B | 61.61B | 15.44B | 15.91B | 15.38B | 61.61B | 61.61B | 61.61B | 61.61B | 61.61B | 61.61B | 13.86B | 61.61B | 61.61B |
| Retained Earnings | 3.06B | 1.1B | 8.53B | 3.51B | 1.39B | 18.58B | 5.25B | 4.45B | 10.89B | 13.01B | 12.26B | 2.73B | 1.84B | 0 | 12.06B | 10.61B | 4.46B | 15.72B | 6.25B | 12.41B |
| Treasury Stock | -2.52B | -3.61B | -3.71B | -3.91B | -3.91B | -3.2B | -3.63B | -3.89B | -3.78B | -3.5B | -3.46B | -2.91B | -1.55B | -4.98B | -4.01B | -7.11B | -4.55B | -5.24B | -4.88B | -4.44B |
| Accumulated OCI | 21.27B | 22.04B | 21.63B | -21.95B | -23.89B | 5.56B | -24.66B | -25.2B | 14.88B | 14.05B | 13.79B | -22.62B | -24.55B | -20.77B | -36.46B | -29.61B | -23.89B | 10.16B | -29.66B | -27.92B |
| Minority Interest | 899.86M | 844.38M | 1.24B | 1.25B | 1.16B | 1.12B | 1.42B | 1.41B | 1.52B | 1.52B | 1.5B | 1.48B | 1.53B | 1.49B | 1.47B | 1.48B | 854M | 834M | 767M | 698M |