Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 569,919 - -
Change - -10.81% 43.86% -1.45% -16.34% 38.92% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 853,511 833,339 819,409
Change - -12.73% 27.17% 9.62% -8.18% 16.89% -2.36% -1.67%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.36x 4.63x 4.78x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.06x 0.95x 0.88x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.53x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.01x 1.06x 1.09x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.52x 1.54x 1.57x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.88x 2.96x 2.99x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.99x 4.41x 4.6x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.93x 7.82x 8.04x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 14.4% 12.8% 12.4%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.146 5.708 6.051
Rate of return 30% 61.6% 15% 15.8% 10.4% 12.5% 13.9% 14.7%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.28 8.908 8.63
Distribution rate 104% 105% 58.2% 202% 39.9% 41.9% 64.1% 70.1%
Net sales 1 452,668 641,256 509,987 527,918 470,950 563,271 539,590 522,648
EBITDA 1 234,576 340,482 261,016 264,987 231,111 296,013 281,710 273,713
EBIT 1 171,528 272,280 194,883 192,922 151,135 213,996 189,007 178,036
Net income 1 106,668 188,328 123,920 43,473 103,668 133,707 113,838 106,284
Net Debt 1 265,778 224,510 227,799 304,800 319,931 283,592 263,420 249,491
Reference price 2 28.45 24.50 37.24 36.19 30.82 41.21 41.21 41.21
Nbr of stocks (in thousands) 13,044,201 13,044,201 13,015,466 12,888,733 12,888,733 12,888,733 - -
Announcement Date 24/02/22 02/03/23 08/03/24 26/02/25 06/03/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.57x3.36x6.42x5.28% 1,695B
12.51x1.75x5.71x3.81% 371B
8.16x0.65x3.97x6.41% 292B
8.26x0.93x4.04x3.63% 239B
7.82x1.01x4.19x4.86% 187B
5.72x1.69x2.7x8.08% 144B
7.08x0.81x1.97x4.04% 92.56B
Average 9.02x 1.46x 4.14x 5.16% 431.55B
Weighted average by Cap. 11.56x 2.41x 5.45x 5.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield