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Undervalued
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 12.86 Fair value 14.66 One-star price 16.72
Morningstar Quantitative Rating as of 28 OCT 2026.
Morningstar Quantitative Rating as of 28 OCT 2026. The slider runs from the five-star price (12.86) to the one-star price (16.72).
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 11.47 |
| Price - 12 month high | 17.94 |
| Price - 12 month low | 11.34 |
| Pricing date | 27 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 37.74 |
| Market capitalization | 48,813.60 |
| 12 Month High price date | 17 APR 2026 |
| 12 Month Low price date | 28 OCT 2026 |
| Volume - avg. trading volume for the last 3 months | 30.79 |
| Price - 1 Day % Change | -3.13% |
| Price - 13 week price percent change | -21.97% |
| Price - 26 week price percent change | -32.17% |
| Price - 5 Day % Change | -9.69% |
| Price - 52 week price percent change | -1.29% |
| Price - YTD price percent change | -12.44% |
| Price % Change Month To Date | -15.60% |
| EPS excluding extraordinary items - most recent fiscal year | 0.550 |
| EPS excluding extraordinary items - trailing 12 month | 0.500 |
| EPS Normalized - most recent fiscal year | 1.908 |
| Revenue/share - most recent fiscal year | 8.984 |
| Revenue/share - trailing 12 month | 9.651 |
| Book value per share - most recent fiscal year | 7.850 |
| Book value per share - most recent quarter | 8.932 |
| Book value (tangible) per share - most recent fiscal year | 5.949 |
| Book value (tangible) per share - most recent quarter | 6.937 |
| Cash per share - most recent fiscal year | 1.727 |
| Cash per share - most recent quarter | 1.310 |
| Cash Flow per share - most recent fiscal year | 2.132 |
| Cash Flow per share - trailing 12 month | 2.239 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.843 |
| EBITD per share - trailing 12 month | 1.688 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.550 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.500 |
| EPS including extraordinary items - most recent fiscal year | 0.550 |
| EPS including extraordinary items - trailing 12 month | 0.500 |
| Free Cash Flow per share - trailing 12 month | 2.239 |
| P/E excluding extraordinary items, most recent fiscal year | 22.94 |
| P/E Normalized, most recent fiscal year | 8.63 |
| Price to sales - most recent fiscal year | 1.19 |
| Price to Tangible Book - most fiscal year | 1.71 |
| Price to Free Cash Flow per Share - most recent fiscal year | 5.12 |
| Price to Cash Flow per share - trailing 12 month | 5.12 |
| Price to Book - most recent fiscal year | 1.28 |
| P/E excluding extraordinary items high, trailing 12 months | 32.40 |
| P/E excluding extraordinary items low, trailing 12 months | 9.24 |
| Net Debt, LFI | 16,243.00 |
| Net Debt, LFY | 14,235.00 |
| Dividend Yield - 5 Year Average | 7.31% |
| Dividend Yield - indicated annual dividend divided by closing price | 7.12% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 7.35% |
| Free Cash Flow - most recent fiscal year | 3,107.00 |
| LT debt/equity - most recent fiscal year | 61.48% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 63.47% |
| LT debt/equity - most recent quarter | 53.23% |
| Total debt/total equity - most recent quarter | 56.51% |
| Free Cash Flow - trailing 12 month | 9,567.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 38,403.00 |
| Revenue - trailing 12 month | 41,236.00 |
| EBITD - most recent fiscal year | 9,879.00 |
| EBITD - trailing 12 month | 7,211.00 |
| Earnings before taxes - most recent fiscal year | 4,653.00 |
| Earnings before taxes - trailing 12 month | 4,734.00 |
| Net Income available to common - most recent fiscal year | 2,352.00 |
| Net Income available to common - trailing 12 months | 2,109.00 |
| Earnings before taxes Normalized - most recent fiscal year | 13,451.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 1.33 |
| Net Profit Margin % - 1st historical fiscal year | 5.16% |
| Net Profit Margin % - trailing 12 month | 4.38% |
| Operating margin - 1st historical fiscal year | 29.54% |
| Operating margin - trailing 12 month | 29.08% |
| Pretax margin - trailing 12 month | 11.48% |
| Pretax margin - 1st historical fiscal year | 12.12% |
| Operating Margin - 5 year average | 38.77% |
| Pretax Margin - 5 year average | 31.14% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 22.14% |
| Free Operating Cash Flow/Revenue, TTM | 23.20% |
| Net Profit Margin - 5 year average | 24.84% |
| Return on average assets - most recent fiscal year | 2.30% |
| Return on average assets - trailing 12 month | 2.03% |
| Return on average equity - most recent fiscal year | 5.44% |
| Return on average equity - trailing 12 month | 4.79% |
| Return on average assets - 5 year average | 12.59% |
| Return on average equity - 5 year average | 30.57% |
| Net Income/employee - most recent fiscal year | 30,134.49 |
| Revenue/employee - most recent fiscal year | 583,587.87 |
| Revenue growth rate, 5 year | -0.58% |
| EPS growth rate, 5 year | -10.35% |
| Growth rate% - dividend, 3 year | -7.33% |
| Revenue/share (5 yr growth) | 3.12% |
| Growth rate% - Revenue, 3 year | -4.32% |
| Growth rate% - EPS, 3 year | -48.60% |
| Book value per share growth rate, 5 year | 2.41% |
| Capital Spending growth rate, 5 year | 7.28% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | -4.69% |
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
Announcements are available for ASX-listed companies only.
Vale is a US-listed, Brazil-based global mining giant and one of the world’s largest iron ore producers. A tier-one operator, it is increasingly diversifying into battery metals—primarily nickel and copper—which now account for more than 20% of group revenue.
Brazilian mining giant Vale (VALE US) is the largest Iron Ore miner in the world, producing 328 million tonnes in 2024, just topping Rio Tinto’s 323Mt haul, while BHP (256Mt) and Fortescue (193Mt) round out the top 4.
We are tweaking the international equities portfolio, selling a mining stock and buying a global payments company.
The portfolio continues to endure a choppy / mixed June and overall it’s been disappointing to date.
The correlation between the $US and resource stocks doesn’t end in Australia iron ore giant Vale (VALE US) has also moved in sync with the $US implying that the trend should remain intact but another 10% correction isn’t too far away.
Vale is the worlds 2nd largest producer of iron ore after RIO Tinto (RIO), we feel its showing the direction for Australian producers moving forward after breaking to fresh 2021 highs in the last few weeks. We hold Vale in our International Equities Portfolio.
MM is bullish towards Vale around $US16
MM is bullish on Vale, believing its discount to ASX-listed peers will gradually reduce
MM are selling VALE US in the International Equities Portfolio, taking profit around $US22.11
MM can see another 10% correction looming on the horizon for Vale (VALE US)
MM is neutral Vale (VALE US)
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years, the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by its iron ore business. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. In 2024, Vale sold a minority 10% stake in its base metals business, likely the first step in separating base metals and iron ore.
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