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International Paper vs Vale: revenue, profit, margins and growth compared

International Paper brought in $23.6B of revenue in fiscal 2025, Vale $38.4B in fiscal 2025. Revenue changed by +49.3% at International Paper and +0.9% at Vale on the year before, so International Paper grew faster. International Paper kept -14.9% of its revenue as net profit, Vale 6.1%.

Side by side, latest fiscal year

IPVALE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$23.6B$38.4B
Revenue growth+49.3%+0.9%
Net income-$3.5B$2.4B
Net margin-14.9%6.1%
Free cash flow-$159Mn/a
Free cash flow margin-0.7%n/a
Earnings per share (diluted)-$6.95n/a
Cash$1.1B$7.4B
Debt$9.8Bn/a
Price to earningsn/an/a
Market value$18B$58B
Dividend yield5.44%n/a
Rank by revenue in sector#5 of 99 · Basic materials#2 of 99 · Basic materials

Over the years

Revenue
IP FY2018: $23.3BIP FY2019: $18.3BIP FY2020: $17.6BIP FY2021: $19.4BIP FY2022: $21.2BIP FY2023: $16BIP FY2024: $15.8BIP FY2025: $23.6BVALE FY2018: $36.6BVALE FY2019: $36.5BVALE FY2020: $39.5BVALE FY2021: $54.5BVALE FY2022: $43.8BVALE FY2023: $41.8BVALE FY2024: $38.1BVALE FY2025: $38.4BFY18FY19FY20FY21FY22FY23FY24FY25
IP $23.6BVALE $38.4B
Net income
IP FY2018: $2BIP FY2019: $1.2BIP FY2020: $482MIP FY2021: $1.8BIP FY2022: $1.5BIP FY2023: $288MIP FY2024: $557MIP FY2025: -$3.5BVALE FY2018: $6.9BVALE FY2019: -$1.7BVALE FY2020: $4.9BVALE FY2021: $22.4BVALE FY2022: $18.8BVALE FY2023: $8BVALE FY2024: $6.2BVALE FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
IP -$3.5BVALE $2.4B
Net margin
IP FY2018: 8.6%IP FY2019: 6.7%IP FY2020: 2.7%IP FY2021: 9.0%IP FY2022: 7.1%IP FY2023: 1.8%IP FY2024: 3.5%IP FY2025: -14.9%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
IP -14.9%VALE 6.1%
Revenue growth
IP FY2019: -21.4%IP FY2020: -4.1%IP FY2021: +10.2%IP FY2022: +9.3%IP FY2023: -24.2%IP FY2024: -1.2%IP FY2025: +49.3%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
IP +49.3%VALE +0.9%
Free cash flow
IP FY2018: $1.7BIP FY2019: $2.5BIP FY2020: $2.4BIP FY2021: $1.6BIP FY2022: $1.2BIP FY2023: $692MIP FY2024: $757MIP FY2025: -$159MFY18FY19FY20FY21FY22FY23FY24FY25
IP -$159MVALE

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

Questions about International Paper and Vale

Which is bigger by revenue, International Paper or Vale?

Vale is bigger by revenue: $38.4B in fiscal 2025, against $23.6B for International Paper in fiscal 2025.

Which keeps more of its revenue as profit, International Paper or Vale?

International Paper had a net margin of -14.9% in fiscal 2025; Vale had 6.1% in fiscal 2025.

Which grew revenue faster, International Paper or Vale?

In their latest fiscal years revenue changed by +49.3% at International Paper 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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