Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 573,188 - -
Change - -10.81% 43.86% -1.45% -16.34% 39.72% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 859,280 841,762 820,689
Change - -12.73% 27.17% 9.62% -8.18% 17.68% -2.04% -2.5%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.46x 4.54x 4.7x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.07x 0.96x 0.88x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.38x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1x 1.06x 1.08x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.5x 1.55x 1.55x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.83x 2.97x 2.95x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.91x 4.46x 4.55x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.27x 7.99x 8.18x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 13.8% 12.5% 12.2%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 3.57 5.878 6.151
Rate of return 30% 61.6% 15% 15.8% 10.4% 8.57% 14.1% 14.8%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.03 9.174 8.861
Distribution rate 104% 105% 58.2% 202% 39.9% 29.7% 64.1% 69.4%
Net sales 1 452,668 641,256 509,987 527,918 470,950 574,162 541,931 528,634
EBITDA 1 234,576 340,482 261,016 264,987 231,111 304,099 283,366 278,309
EBIT 1 171,528 272,280 194,883 192,922 151,135 219,589 188,533 180,320
Net income 1 106,668 188,328 123,920 43,473 103,668 139,923 114,484 109,932
Net Debt 1 265,778 224,510 227,799 304,800 319,931 286,091 268,573 247,501
Reference price 2 28.45 24.50 37.24 36.19 30.82 41.66 41.66 41.66
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.($)
13.86x3.56x6.63x5.24% 1,715B
12.77x1.77x5.77x3.66% 382B
8.06x0.62x3.81x6.49% 286B
7.89x0.87x3.85x3.49% 248B
8.11x1.04x4.34x4.69% 194B
5.8x1.72x2.75x7.76% 147B
3.51x1.51x2.85x8.45% 114B
7.36x0.83x2.02x3.89% 96.14B
8.72x0.81x4.03x4.74% 79.37B
Average 8.45x 1.41x 4.01x 5.38% 362.39B
Weighted average by Cap. 11.38x 2.44x 5.43x 5.17%

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