• VALE S.A average price/book ratio for 2024 was 1.24, a 12.06% decline from 2023.
• VALE S.A average price/book ratio for 2023 was 1.41, a 14.55% decline from 2022.
• VALE S.A average price/book ratio for 2022 was 1.65, a 0.6% decline from 2021.

Price/book ratio can be defined as