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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
ValeVALE -0.21%74 Return-on-Tangible-Asset is 9.72% as of Mar. 2026, which is 27% above its 10-year median of 7.64. GuruFocus rates VALE with a GF Score™ of 74/100 and a GF Value™ of $12.76 (Fairly Valued). The stock has 5 warning signs investors should review. Among 2,670 Metals & Mining companies, Vale ranks better than 80.97% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Vale's annualizedNet Income for the quarter that ended in Mar. 2026 was $7,572 Mil. Vale's average total tangible assets for the quarter that ended in Mar. 2026 was $77,900 Mil. Therefore, Vale's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 9.72%.
The historical rank and industry rank for Vale's Return-on-Tangible-Asset or its related term are showing as below:
VALE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -2.12 Med: 7.64 Max: 28.83
Current: 3.54
During the past 13 years, Vale's highest Return-on-Tangible-Asset was 28.83%. The lowest was -2.12%. And the median was 7.64%.
VALE's Return-on-Tangible-Asset is ranked better than 80.97% of 2670
companies
in the Metals & Mining industry
Industry Median: -17.365
vs VALE: 3.54
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Vale Return-on-Tangible-Asset Related Terms
Vale Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Vale's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Other Industrial Metals & Mining subindustry, Vale's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Vale Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vale's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Vale's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 9.72% mean?
Vale (VALE) has a Return-on-Tangible-Asset of 9.72% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Vale and its competitors. This is 27% above median its historical median of 7.64. According to the industry distribution chart, Vale ranks #508 out of 2670 companies in the Metals & Mining industry, placing it in the top 19%.
Is Vale's Return-on-Tangible-Asset too high?
Vale's current Return-on-Tangible-Asset of 9.72% is 27% above median its 10-year median of 7.64. Based on the distribution chart, Vale ranks #508 out of 2670 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Vale has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vale's Return-on-Tangible-Asset compare to competitors?
According to the Metals & Mining industry distribution chart, Vale ranks #508 out of 2670 companies for Return-on-Tangible-Asset. This places Vale in the top 19% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Vale and its competitors. Vale's current Return-on-Tangible-Asset is 9.72%, which is 27% above median its own 10-year median of 7.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vale stock overvalued right now?
Based on GuruFocus' analysis, Vale (VALE) is currently considered Fairly Valued. The stock's GF Value™ is $12.76, compared to a current price of $14.19 — trading 11.2% above its estimated fair value. The current Return-on-Tangible-Asset is 9.72%, which is 27% above median its 10-year median of 7.64. Vale's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Vale (VALE), the current Return-on-Tangible-Asset is 9.72% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Vale (VALE) Overvalued in 2026?
Based on GuruFocus' analysis, Vale stock appears to be overvalued.
The current stock price of $14.19 is trading 11.2% above its estimated GF Value™ of $12.76.
GuruFocus considers Vale to be Fairly Valued.
Key valuation signals for VALE:
Return-on-Tangible-Asset: 9.72% (27% above median its 10-year median of 7.64)
GF Value™: $12.76 vs. price of $14.19 (11.2% above fair value)
No single metric tells the full story. See the VALE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
74GF Score
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