Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 563,691 - -
Change - -10.81% 43.86% -1.45% -16.34% 37.4% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 848,777 828,233 814,417
Change - -12.73% 27.17% 9.62% -8.18% 16.24% -2.42% -1.67%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.39x 4.59x 4.74x
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 -1.53x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1x 1.05x 1.08x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.51x 1.54x 1.56x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.89x 2.94x 2.97x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.01x 4.38x 4.57x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.1x 8x 8.26x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 14.1% 12.5% 12.1%
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% 12.6% 14% 14.8%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.07 8.909 8.632
Distribution rate 104% 105% 58.2% 202% 39.9% 42.6% 64.1% 70.1%
Net sales 1 452,668 641,256 509,987 527,918 470,950 562,496 538,887 523,733
EBITDA 1 234,576 340,482 261,016 264,987 231,111 293,490 281,239 274,482
EBIT 1 171,528 272,280 194,883 192,922 151,135 211,509 189,156 178,198
Net income 1 106,668 188,328 123,920 43,473 103,668 131,012 113,794 107,439
Net Debt 1 265,778 224,510 227,799 304,800 319,931 285,087 264,543 250,727
Reference price 2 28.45 24.50 37.24 36.19 30.82 40.90 40.90 40.90
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.($)
13.66x3.36x6.47x5.22% 1,719B
12.07x1.7x5.63x3.88% 364B
7.8x0.58x3.65x6.7% 264B
8.09x0.89x4.03x3.66% 237B
7.1x1x3.93x5.17% 177B
5.56x1.65x2.65x8.16% 143B
7.58x0.82x1.91x4.42% 88.82B
8.55x0.74x3.68x5.19% 70.91B
Average 8.80x 1.34x 3.99x 5.3% 382.89B
Weighted average by Cap. 11.48x 2.38x 5.42x 5.18%

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