Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 521,728 - -
Change - -10.81% 43.86% -1.45% -16.34% 27.17% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 808,862 791,808 782,718
Change - -12.73% 27.17% 9.62% -8.18% 10.77% -2.11% -1.15%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 2.98x 4.09x 4.43x
PBR 0.96x 0.88x 1.27x 1.27x 1x 0.97x 0.88x 0.81x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.1x -0.58x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 0.93x 0.96x 1x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.44x 1.45x 1.5x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.76x 2.79x 2.87x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.81x 4.1x 4.4x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.54x 7.74x 8.19x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 15.3% 12.9% 12.2%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.127 5.692 5.706
Rate of return 30% 61.6% 15% 15.8% 10.4% 13.5% 15% 15%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.79 9.296 8.582
Distribution rate 104% 105% 58.2% 202% 39.9% 40.1% 61.2% 66.5%
Net sales 1 452,668 641,256 509,987 527,918 470,950 562,505 545,090 522,651
EBITDA 1 234,576 340,482 261,016 264,987 231,111 293,371 284,240 272,852
EBIT 1 171,528 272,280 194,883 192,922 151,135 212,341 193,288 177,846
Net income 1 106,668 188,328 123,920 43,473 103,668 129,549 116,897 107,619
Net Debt 1 265,778 224,510 227,799 304,800 319,931 287,134 270,080 260,990
Reference price 2 28.45 24.50 37.24 36.19 30.82 38.06 38.06 38.06
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.($)
13.13x3.25x6.27x5.32% 1,684B
11.23x1.56x5.31x4.17% 338B
7.17x0.51x3.24x7.32% 236B
7.32x0.78x3.55x4.06% 213B
6.72x0.94x3.72x5.3% 173B
5.06x1.38x2.22x8.97% 131B
6.34x0.69x1.62x5.06% 77.62B
7.96x0.7x3.47x5.42% 67.79B
Average 8.12x 1.23x 3.68x 5.7% 365.13B
Weighted average by Cap. 10.96x 2.31x 5.19x 5.42%

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