Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 570,482 - -
Change - -10.81% 43.86% -1.45% -16.34% 39.06% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 855,359 838,813 816,625
Change - -12.73% 27.17% 9.62% -8.18% 17.14% -1.93% -2.65%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.52x 4.52x 4.67x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.13x 0.95x 0.86x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.46x
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 1.49x 1.55x 1.54x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.81x 2.96x 2.93x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.92x 4.45x 4.53x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.24x 7.96x 8.14x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 13.8% 12.6% 12.3%
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% 8.6% 13% 13.3%
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 1 452,668 641,256 509,987 527,918 470,950 573,133 541,980 528,761
EBITDA 1 234,576 340,482 261,016 264,987 231,111 304,850 283,386 278,364
EBIT 1 171,528 272,280 194,883 192,922 151,135 218,364 188,594 180,427
Net income 1 106,668 188,328 123,920 43,473 103,668 141,106 114,423 109,992
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 41.45 41.45 41.45
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.($)
13.85x3.56x6.62x5.24% 1,714B
12.88x1.78x5.82x3.63% 386B
8x0.6x3.74x6.53% 282B
7.94x0.87x3.87x3.47% 249B
8.1x1.04x4.33x4.69% 194B
5.94x1.77x2.83x7.59% 151B
3.52x1.49x2.81x8.6% 110B
7.82x0.83x2.05x3.84% 97.33B
8.82x0.82x4.07x4.68% 80.26B
Average 8.54x 1.42x 4.01x 5.36% 362.5B
Weighted average by Cap. 11.42x 2.44x 5.43x 5.16%

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