Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 594,648 - -
Change - -10.81% 43.86% -1.45% -16.34% 44.95% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 879,366 857,164 843,457
Change - -12.73% 27.17% 9.62% -8.18% 20.43% -2.52% -1.6%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.45x 4.72x 4.89x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.1x 0.99x 0.91x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.39x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.05x 1.1x 1.13x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.55x 1.59x 1.6x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.95x 3.05x 3.07x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.06x 4.58x 4.72x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.12x 8.04x 8.27x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 14% 12.4% 12.1%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 4.773 5.888 6.191
Rate of return 30% 61.6% 15% 15.8% 10.4% 11.1% 13.7% 14.5%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.42 9.077 8.757
Distribution rate 104% 105% 58.2% 202% 39.9% 38.4% 64.9% 70.7%
Net sales 1 452,668 641,256 509,987 527,918 470,950 566,089 539,768 525,880
EBITDA 1 234,576 340,482 261,016 264,987 231,111 298,377 281,170 274,700
EBIT 1 171,528 272,280 194,883 192,922 151,135 216,499 187,308 178,569
Net income 1 106,668 188,328 123,920 43,473 103,668 135,641 113,051 106,813
Net Debt 1 265,778 224,510 227,799 304,800 319,931 284,718 262,515 248,809
Reference price 2 28.45 24.50 37.24 36.19 30.82 42.84 42.84 42.84
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.($)
13.66x3.39x6.46x5.25% 1,706B
12.83x1.79x5.85x3.71% 380B
8.41x0.65x3.97x6.22% 297B
8.51x0.92x3.76x3.52% 248B
8.09x1.04x4.32x4.7% 193B
6.01x1.79x2.87x7.5% 152B
7.3x0.83x2.03x3.92% 95.41B
8.59x0.83x4.11x4.68% 80.79B
Average 9.17x 1.40x 4.17x 4.94% 394.09B
Weighted average by Cap. 11.63x 2.38x 5.44x 5.04%

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