Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 593,068 - -
Change - -10.81% 43.86% -1.45% -16.34% 44.56% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 877,945 861,399 839,211
Change - -12.73% 27.17% 9.62% -8.18% 20.24% -1.88% -2.58%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.66x 4.7x 4.86x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.18x 0.99x 0.9x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.52x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.03x 1.1x 1.12x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.53x 1.59x 1.59x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.88x 3.04x 3.02x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.01x 4.49x 4.54x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.43x 8.17x 8.36x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 13.5% 12.2% 12%
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% 8.27% 12.5% 12.8%
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 1 452,668 641,256 509,987 527,918 470,950 573,858 541,555 527,506
EBITDA 1 234,576 340,482 261,016 264,987 231,111 305,046 283,342 278,071
EBIT 1 171,528 272,280 194,883 192,922 151,135 218,903 191,876 184,997
Net income 1 106,668 188,328 123,920 43,473 103,668 142,973 114,335 110,005
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 43.11 43.11 43.11
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.($)
14.02x3.58x6.74x5.23% 1,716B
13.38x1.88x5.97x3.47% 404B
8.38x0.64x3.94x6.24% 296B
8.24x0.9x3.99x3.35% 258B
8.42x1.08x4.48x4.52% 201B
6.06x1.81x2.9x7.44% 154B
3.66x1.53x2.88x8.27% 115B
8x0.86x2.11x3.71% 101B
8.85x0.82x4.08x4.67% 81.3B
Average 8.78x 1.45x 4.12x 5.21% 369.58B
Weighted average by Cap. 11.62x 2.45x 5.53x 5.07%

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