Vale's third-quarter adjusted EBITDA fell 20% from the same quarter last year to USD 3.5 billion, and 14% from the prior quarter. Reduced iron ore earnings on lower realized prices and higher unit costs were partially offset by improved base metals earnings due to stronger prices.
Vale's lower unit costs relative to producers in India and China, as well as high-cost producers such as Anglo American, allow it to remain profitable even in depressed price environments.
We believe China's real estate- and infrastructure-driven economic growth has likely peaked, and prices for materials such as iron ore will decline.
Metric | VALE | FMG | BHP |
|---|---|---|---|
Price/Earnings (Normalized) | 18.07 | 8.62 | 13.86 |
Price/Book Value | 1.31 | 1.59 | 4.13 |
Price/Sales | 1.19 | 1.88 | 3.46 |
Price/Cash Flow | 5.20 | 4.67 | 8.67 |
Metric | VALE | FMG | BHP |
|---|---|---|---|
Quick Ratio | 0.62 | 1.70 | 1.44 |
Current Ratio | 1.10 | 2.32 | 1.88 |
Interest Coverage | 2.66 | 13.01 | 11.36 |
Metric | VALE | FMG | BHP |
|---|---|---|---|
Return on Assets (Normalized) | 6.71% | 11.10% | 11.44% |
Return on Equity (Normalized) | 15.91% | 17.01% | 27.20% |
Return on Invested Capital (Normalized) | 12.21% | 13.71% | 17.58% |
1-Day Chart | Name | Price | Morningstar Rating for Stocks | Capital Allocation | Economic Moat | Market Cap |
|---|---|---|---|---|---|---|
| BHP Group Ltd BHPLF | LOCK|%^XLJZ? | LOCK|mTK | $203B | |||
| BHP Group Ltd ADR BHP | LOCK|^&@^&Z | LOCK|@b$ | $203B | |||
| Rio Tinto Ltd RTNTF | — | LOCK|^$ | $169B | |||
| Rio Tinto PLC Ordinary Shares RTPPF | LOCK|b?^d&hg | LOCK|N#! | $137B | |||
| Rio Tinto PLC ADR RIO | LOCK|>Qsjnd | LOCK|$ht | $137B | |||
| Grupo Mexico SAB de CV Class B GMBXF | — | LOCK|^KMs | $90B | |||
| Grupo Mexico SAB de CV ADR GPMXY | — | LOCK|RV^?X | $90B | |||
| Glencore PLC ADR GLNCY | LOCK|%d#&K^x | LOCK|@G? | $78B | |||
| Anglo American PLC ADR NGLOY | LOCK|&JP?#j | LOCK|!j | $53B |
United States