Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 609,110 - -
Change - -10.81% 43.86% -1.45% -16.34% 48.47% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 893,987 877,441 855,253
Change - -12.73% 27.17% 9.62% -8.18% 22.43% -1.85% -2.53%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.77x 4.84x 5x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.21x 1.01x 0.92x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.56x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.06x 1.12x 1.15x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.56x 1.62x 1.62x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.93x 3.09x 3.07x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.08x 4.57x 4.62x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.56x 8.32x 8.52x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 13.2% 12% 11.7%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 3.565 5.375 5.533
Rate of return 30% 61.6% 15% 15.8% 10.4% 8.04% 12.1% 12.5%
EPS 2 8.18 14.44 9.57 2.84 8.026 11.77 9.164 8.87
Distribution rate 104% 105% 58.2% 202% 39.9% 30.3% 58.6% 62.4%
Net sales 1 452,668 641,256 509,987 527,918 470,950 574,496 542,157 528,128
EBITDA 1 234,576 340,482 261,016 264,987 231,111 305,372 283,645 278,402
EBIT 1 171,528 272,280 194,883 192,922 151,135 218,903 191,876 184,997
Net income 1 106,668 188,328 123,920 43,473 103,668 143,142 114,465 110,139
Net Debt 1 265,778 224,510 227,799 304,800 319,931 284,877 268,332 246,144
Reference price 2 28.45 24.50 37.24 36.19 30.82 44.32 44.32 44.32
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.89x3.55x6.68x5.28% 1,701B
13.38x1.88x5.97x3.47% 404B
8.43x0.63x3.87x6.21% 292B
8.3x0.91x4.02x3.32% 260B
8.5x1.09x4.52x4.47% 203B
6.1x1.82x2.92x7.39% 155B
3.77x1.56x2.93x8.04% 118B
8.12x0.87x2.14x3.66% 102B
8.89x0.84x4.18x4.55% 83.57B
Average 8.82x 1.46x 4.14x 5.15% 368.64B
Weighted average by Cap. 11.56x 2.43x 5.49x 5.07%

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