Vale is the world's largest iron ore miner and a key supplier to the global steel industry. It is leveraged to Chinese raw materials demand, which we expect to slow as the country's infrastructure-led investment boom wanes and as recycled steel becomes a growing source of supply.
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
|
BHP
|
FMG
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.16 | 14.68 | 9.19 |
Price/Book Value | 1.51 | 4.37 | 1.69 |
Price/Sales | 1.39 | 3.67 | 2.01 |
Price/Cash Flow | 6.01 | 9.19 | 4.98 |
|
Metric
|
VALE
|
BHP
|
FMG
|
|---|---|---|---|
Quick Ratio | 0.68 | 1.44 | 1.70 |
Current Ratio | 1.19 | 1.88 | 2.32 |
Interest Coverage | 3.12 | 11.36 | 13.01 |
|
Metric
|
VALE
|
BHP
|
FMG
|
|---|---|---|---|
Return on Assets (Normalized) | 6.01% | 11.44% | 11.10% |
Return on Equity (Normalized) | 14.19% | 27.20% | 17.01% |
Return on Invested Capital (Normalized) | 11.52% | 17.58% | 13.71% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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United States