Financials Petrobras BME

Stocks

XPBR

BRPETRACNOR9

Integrated Oil & Gas

Real-time Estimate Tradegate Other stock markets 12:54:23 10/07/2026 BST			5-day change	1st Jan Change
7.450 ^EUR	-1.17%		+8.99%	+42.20%

11:50am	Petróleo Brasileiro S.A. - Petrobras Concludes Acquisition of Exploration Block in Sao Tome and Principe	CI
07-09	Bolivia says Petrobras may return to oil and gas production, help restructure YPFB	RE

Projected Income Statement: Petrobras

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	452,668	641,256	509,987	527,918	470,950	567,014	541,333	524,808
Change	-	41.66%	-20.47%	3.52%	-10.79%	20.4%	-4.53%	-3.05%
EBITDA ¹	234,576	340,482	261,016	264,987	231,111	293,580	281,012	273,359
Change	-	45.15%	-23.34%	1.52%	-12.78%	27.03%	-4.28%	-2.72%
EBIT ¹	171,528	272,280	194,883	192,922	151,135	211,509	189,156	178,198
Change	-	58.74%	-28.43%	-1.01%	-21.66%	39.95%	-10.57%	-5.79%
Interest Paid ¹	-59,256	-18,040	-11,861	-23,356	-14,911	-14,258	-14,763	-14,062
Earnings before Tax (EBT) ¹	151,575	274,998	176,269	64,344	141,478	194,080	166,604	159,162
Change	-	81.43%	-35.9%	-63.5%	119.88%	37.18%	-14.16%	-4.47%
Net income ¹	106,668	188,328	123,920	43,473	103,668	131,012	113,794	107,439
Change	-	76.56%	-34.2%	-64.92%	138.46%	26.38%	-13.14%	-5.58%
Announcement Date	24/02/22	02/03/23	08/03/24	26/02/25	06/03/26	-	-	-

¹BRL in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	110,004	121,594	134,190	136,994	180,914	170,076	158,579	132,974	111,441	124,828	134,990	117,721	122,258	129,582	120,205	123,144	115,119	125,743	124,650	123,686	154,279	154,664	147,601
Change	-	10.54%	10.36%	2.09%	32.06%	-5.99%	-6.76%	-16.15%	-16.19%	12.01%	8.14%	-12.79%	3.85%	5.99%	-7.24%	2.45%	-6.52%	9.23%	-0.87%	-0.77%	24.73%	0.25%	-4.57%
EBITDA ¹	61,603	60,744	62,945	77,710	98,260	91,421	73,091	72,497	56,690	66,188	67,079	60,044	49,740	63,667	57,050	61,084	55,986	64,026	57,737	59,643	82,505	82,452	76,421
Change	-	-1.39%	3.62%	23.46%	26.44%	-6.96%	-20.05%	-0.81%	-21.8%	16.75%	1.35%	-10.49%	-17.16%	28%	-10.39%	7.07%	-8.35%	14.36%	-9.82%	3.3%	38.33%	-0.06%	-7.31%
EBIT ¹	46,635	44,482	46,717	61,106	81,264	74,278	55,632	57,311	40,608	49,233	48,992	43,396	33,379	47,126	39,749	42,545	28,998	42,719	36,131	38,029	59,875	58,067	50,554
Change	-	-4.62%	5.02%	30.8%	32.99%	-8.6%	-25.1%	3.02%	-29.14%	21.24%	-0.49%	-11.42%	-23.08%	41.18%	-15.65%	7.04%	-31.84%	47.32%	-15.42%	5.25%	57.44%	-3.02%	-12.94%
Charge d'intérêts ¹	-	-	-13,804	-3,969	-4,691	-4,157	-5,223	-4,387	-1,707	-9,760	1,368	-5,310	-13,143	-1,561	-3,722	-4,007	-3,903	-3,776	-4,245	-3,421	-3,794	-3,503	-3,272
Earnings before Tax (EBT) ¹	62,599	40,977	44,485	66,580	85,236	66,639	59,301	54,469	40,907	-	41,074	34,448	-2,853	-	-20,524	53,635	35,082	44,364	15,814	49,136	56,908	54,771	48,712
Change	-	-34.54%	8.56%	49.67%	28.02%	-21.82%	-11.01%	-8.15%	-24.9%	-	-	-16.13%	-108.28%	-	-	361.33%	-34.59%	26.46%	-64.35%	210.72%	15.82%	-3.75%	-11.06%
Net income ¹	42,577	31,142	31,504	43,357	57,397	46,096	43,341	36,463	28,264	26,625	31,169	23,700	-2,605	32,555	-16,054	35,209	25,905	32,281	15,307	32,663	39,332	37,587	32,436
Change	-	-26.86%	1.16%	37.62%	32.38%	-19.69%	-5.98%	-15.87%	-22.49%	-5.8%	17.07%	-23.96%	-110.99%	1,349.71%	-149.31%	319.31%	-26.42%	24.61%	-52.58%	113.39%	20.42%	-4.43%	-13.71%
Announcement Date	04/08/21	28/10/21	24/02/22	05/05/22	28/07/22	03/11/22	02/03/23	11/05/23	03/08/23	09/11/23	08/03/24	14/05/24	09/08/24	07/11/24	26/02/25	12/05/25	08/08/25	06/11/25	06/03/26	12/05/26	-	-	-

¹BRL in Million

Estimates

Forecast Balance Sheet: Petrobras

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	265,778	224,510	227,799	304,800	319,931	286,954	266,804	253,171
Change	-	-15.53%	1.46%	33.8%	4.96%	-10.31%	-7.02%	-5.11%
Announcement Date	24/02/22	02/03/23	08/03/24	26/02/25	06/03/26	-	-	-

¹BRL in Million

Estimates

Cash Flow Forecast: Petrobras

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	34,134	49,656	62,297	85,442	103,071	91,645	93,960	94,933
Change	-	45.47%	25.46%	37.15%	20.63%	-11.09%	2.53%	1.03%
Free Cash Flow (FCF) ¹	168,992	205,754	159,925	136,180	87,257	123,736	102,263	95,563
Change	-	21.75%	-22.27%	-14.85%	-35.92%	41.81%	-17.35%	-6.55%
Announcement Date	24/02/22	02/03/23	08/03/24	26/02/25	06/03/26	-	-	-

¹BRL in Million

Estimates

Forecast Financial Ratios: Petrobras

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	51.82%	53.1%	51.18%	50.19%	49.07%	51.78%	51.91%	52.09%
EBIT Margin (%)	37.89%	42.46%	38.21%	36.54%	32.09%	37.3%	34.94%	33.95%
EBT Margin (%)	33.48%	42.88%	34.56%	12.19%	30.04%	34.23%	30.78%	30.33%
Net margin (%)	23.56%	29.37%	24.3%	8.23%	22.01%	23.11%	21.02%	20.47%
FCF margin (%)	37.33%	32.09%	31.36%	25.8%	18.53%	21.82%	18.89%	18.21%
FCF / Net Income (%)	158.43%	109.25%	129.05%	313.25%	84.17%	94.45%	89.87%	88.95%
Profitability
ROA	10.88%	19.32%	12.29%	9.72%	8.97%	10.44%	8.91%	8.73%
ROE	30.66%	50.23%	33.54%	28.14%	29.04%	28.01%	20.69%	17.96%
Financial Health
Leverage (Debt/EBITDA)	1.13x	0.66x	0.87x	1.15x	1.38x	0.98x	0.95x	0.93x
Debt / Free cash flow	1.57x	1.09x	1.42x	2.24x	3.67x	2.32x	2.61x	2.65x
Capital Intensity
CAPEX / Current Assets (%)	7.54%	7.74%	12.22%	16.18%	21.89%	16.16%	17.36%	18.09%
CAPEX / EBITDA (%)	14.55%	14.58%	23.87%	32.24%	44.6%	31.22%	33.44%	34.73%
CAPEX / FCF (%)	20.2%	24.13%	38.95%	62.74%	118.12%	74.07%	91.88%	99.34%
Items per share
Cash flow per share ¹	15.57	19.58	16.56	15.82	14.77	16.08	15.5	16.25
Change	-	25.74%	-15.41%	-4.5%	-6.65%	8.87%	-3.59%	4.84%
Dividend per Share ¹	8.534	15.09	5.569	5.734	3.199	5.146	5.708	6.051
Change	-	76.82%	-63.09%	2.96%	-44.21%	60.84%	10.93%	5.99%
Book Value Per Share ¹	29.69	27.8	29.4	28.4	30.96	38.35	42.68	46.55
Change	-	-6.39%	5.77%	-3.41%	9.01%	23.9%	11.29%	9.06%
EPS ¹	8.18	14.44	9.57	2.84	8.026	12.07	8.909	8.632
Change	-	76.53%	-33.73%	-70.32%	182.59%	50.39%	-26.19%	-3.1%
Nbr of stocks (in thousands)	13,044,201	13,044,201	13,015,466	12,888,733	12,888,733	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	-	-	-