Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 568,044 - -
Change - -10.81% 43.86% -1.45% -16.34% 38.46% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 855,177 838,145 829,080
Change - -12.73% 27.17% 9.62% -8.18% 17.12% -1.99% -1.08%
P/E Ratio 3.48x 1.7x 3.89x 12.7x 3.84x 3.24x 4.4x 4.85x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.05x 0.95x 0.88x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -0.53x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.01x 1.04x 1.09x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.52x 1.54x 1.59x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.92x 2.94x 3.05x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.04x 4.32x 4.69x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.91x 8.2x 8.68x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 14.5% 12.2% 11.5%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.19 5.68 5.574
Rate of return 30% 61.6% 15% 15.8% 10.4% 12.6% 13.8% 13.5%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.72 9.353 8.498
Distribution rate 104% 105% 58.2% 202% 39.9% 40.8% 60.7% 65.6%
Net sales 1 452,668 641,256 509,987 527,918 470,950 564,188 545,868 521,934
EBITDA 1 234,576 340,482 261,016 264,987 231,111 292,805 284,633 272,081
EBIT 1 171,528 272,280 194,883 192,922 151,135 211,521 193,889 176,942
Net income 1 106,668 188,328 123,920 43,473 103,668 129,119 117,237 107,117
Net Debt 1 265,778 224,510 227,799 304,800 319,931 287,134 270,101 261,037
Reference price 2 28.45 24.50 37.24 36.19 30.82 41.18 41.18 41.18
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 Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.31x3.3x6.39x5.18% 1,733B
12.35x1.69x5.74x3.81% 370B
8.41x0.59x3.88x6.24% 276B
8.11x0.86x3.92x3.6% 241B
7.51x1.07x4.12x4.63% 197B
6.01x1.73x2.77x7.55% 156B
7.45x0.8x1.87x4.3% 91.48B
9.14x0.75x3.86x4.72% 79.05B
Average 9.04x 1.35x 4.07x 5% 392.96B
Weighted average by Cap. 11.36x 2.33x 5.39x 5.04%

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

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