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Barrick Mining vs Vale: revenue, profit, margins and growth compared

Barrick Mining brought in $17B of revenue in fiscal 2025, Vale $38.4B in fiscal 2025. Revenue changed by +31.2% at Barrick Mining and +0.9% at Vale on the year before, so Barrick Mining grew faster. Barrick Mining kept 29.4% of its revenue as net profit, Vale 6.1%.

Side by side, latest fiscal year

BVALE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17B$38.4B
Revenue growth+31.2%+0.9%
Net income$5B$2.4B
Net margin29.4%6.1%
Free cash flow$3.9Bn/a
Free cash flow margin22.8%n/a
Earnings per share (diluted)$2.93n/a
Cash$6.7B$7.4B
Debtn/an/a
Price to earningsn/an/a
Market value$70.6B$58.1B
Dividend yieldn/an/a
Rank by revenue in sector#5 of 71 · Basic materials#1 of 71 · Basic materials

Over the years

Revenue
B FY2018: $7.2BB FY2019: $9.7BB FY2020: $12.6BB FY2021: $12BB FY2022: $11BB FY2023: $11.4BB FY2024: $12.9BB FY2025: $17BVALE FY2018: $36.6BVALE FY2019: $36.5BVALE FY2020: $39.5BVALE FY2021: $54.5BVALE FY2022: $43.8BVALE FY2023: $41.8BVALE FY2024: $38.1BVALE FY2025: $38.4BFY18FY19FY20FY21FY22FY23FY24FY25
B $17BVALE $38.4B
Net income
B FY2018: -$1.5BB FY2019: $4BB FY2020: $2.3BB FY2021: $2BB FY2022: $432MB FY2023: $1.3BB FY2024: $2.1BB FY2025: $5BVALE FY2018: $6.9BVALE FY2019: -$1.7BVALE FY2020: $4.9BVALE FY2021: $22.4BVALE FY2022: $18.8BVALE FY2023: $8BVALE FY2024: $6.2BVALE FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
B $5BVALE $2.4B
Net margin
B FY2018: -21.3%B FY2019: 40.8%B FY2020: 18.5%B FY2021: 16.9%B FY2022: 3.9%B FY2023: 11.2%B FY2024: 16.6%B FY2025: 29.4%VALE FY2018: 18.8%VALE FY2019: -4.6%VALE FY2020: 12.3%VALE FY2021: 41.2%VALE FY2022: 42.9%VALE FY2023: 19.1%VALE FY2024: 16.2%VALE FY2025: 6.1%FY18FY19FY20FY21FY22FY23FY24FY25
B 29.4%VALE 6.1%
Revenue growth
B FY2019: +34.2%B FY2020: +29.6%B FY2021: -4.8%B FY2022: -8.1%B FY2023: +3.5%B FY2024: +13.4%B FY2025: +31.2%VALE FY2019: -0.1%VALE FY2020: +8.2%VALE FY2021: +37.8%VALE FY2022: -19.6%VALE FY2023: -4.7%VALE FY2024: -8.9%VALE FY2025: +0.9%FY19FY20FY21FY22FY23FY24FY25
B +31.2%VALE +0.9%
Free cash flow
B FY2018: $365MB FY2019: $1.1BB FY2020: $3.4BB FY2021: $1.9BB FY2022: $432MB FY2023: $646MB FY2024: $1.3BB FY2025: $3.9BFY18FY19FY20FY21FY22FY23FY24FY25
B $3.9BVALE

Fiscal years as each company reports them; the two may end in different months.

Questions about Barrick Mining and Vale

Which is bigger by revenue, Barrick Mining or Vale?

Vale is bigger by revenue: $38.4B in fiscal 2025, against $17B for Barrick Mining in fiscal 2025.

Which keeps more of its revenue as profit, Barrick Mining or Vale?

Barrick Mining had a net margin of 29.4% in fiscal 2025; Vale had 6.1% in fiscal 2025.

Which grew revenue faster, Barrick Mining or Vale?

In their latest fiscal years revenue changed by +31.2% at Barrick Mining and +0.9% at Vale.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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