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Is the word valeu the same in Brazilian and European Portuguese?

No

The difference lies in usage. In Brazilian Portuguese, "valeu" is a highly versatile, informal interjection. It is commonly used as a slang term to mean "thanks," "goodbye," "got it," or "all good/cool." In Continental Portuguese, "valeu" is almost exclusively used as the third-person singular preterite (past tense) of the verb valer (to be worth). While a Portuguese person will understand a Brazilian saying "valeu" to mean "thanks," they would not use the word this way themselves; to them, it would sound strictly like a grammatical conjugation of a verb.

Brazilian Portuguese Usage (Informal)

  1. Valeu pela ajuda! (Thanks for the help!)
  2. Valeu, até amanhã! (Bye, see you tomorrow!)
  3. Valeu pelo convite, mas não posso ir. (Thanks for the invitation, but I can't go.)
  4. Valeu, mano, você é fera! (Thanks, man, you're awesome!)
  5. Valeu, já entendi o que você disse. (Got it, I understand what you said.)

Continental Portuguese Usage (Natural Equivalents)

  1. Obrigado pela ajuda! (Thanks for the help!)
  2. Tchau, até amanhã! (Bye, see you tomorrow!)
  3. Obrigado pelo convite, mas não posso ir. (Thanks for the invitation, but I can't go.)
  4. Obrigado, pá, és um craque! (Thanks, man, you're a pro!)
  5. Ok, já percebi o que disseste. (Ok, I understand what you said.)