Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 582,333 - -
Change - -10.81% 43.86% -1.45% -16.34% 41.94% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 866,382 844,161 830,461
Change - -12.73% 27.17% 9.62% -8.18% 18.65% -2.56% -1.62%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.38x 4.63x 4.8x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.08x 0.97x 0.89x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.36x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.03x 1.07x 1.11x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.53x 1.56x 1.58x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.92x 2.98x 3.03x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.02x 4.43x 4.65x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.02x 7.92x 8.15x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 14.2% 12.6% 12.3%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 4.773 5.888 6.191
Rate of return 30% 61.6% 15% 15.8% 10.4% 11.4% 14% 14.7%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.42 9.077 8.757
Distribution rate 104% 105% 58.2% 202% 39.9% 38.4% 64.9% 70.7%
Net sales 1 452,668 641,256 509,987 527,918 470,950 565,871 542,292 524,282
EBITDA 1 234,576 340,482 261,016 264,987 231,111 297,160 282,861 274,045
EBIT 1 171,528 272,280 194,883 192,922 151,135 215,550 190,406 178,589
Net income 1 106,668 188,328 123,920 43,473 103,668 134,588 114,741 106,695
Net Debt 1 265,778 224,510 227,799 304,800 319,931 284,048 261,828 248,127
Reference price 2 28.45 24.50 37.24 36.19 30.82 42.00 42.00 42.00
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.($)
3.38x1.53x2.92x11.37% 113B
13.56x3.36x6.41x5.29% 1,693B
12.8x1.79x5.84x3.72% 379B
8.23x0.63x3.85x6.35% 287B
8.47x0.95x4.12x3.53% 246B
8.02x1.03x4.29x4.74% 192B
5.85x1.73x2.77x7.71% 147B
7.39x0.84x2.05x3.87% 96.55B
9.56x0.8x4.03x4.74% 78.77B
Average 8.58x 1.41x 4.03x 5.7% 359.27B
Weighted average by Cap. 11.29x 2.34x 5.34x 5.3%

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