Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 596,364 - -
Change - -10.81% 43.86% -1.45% -16.34% 45.36% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 881,451 860,907 847,091
Change - -12.73% 27.17% 9.62% -8.18% 20.72% -2.33% -1.6%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.56x 4.82x 4.98x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.12x 1.01x 0.92x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.61x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.06x 1.11x 1.14x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.57x 1.6x 1.62x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 3x 3.06x 3.09x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.17x 4.55x 4.75x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 7.37x 8.05x 8.32x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 13.6% 12.4% 12%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.146 5.708 6.051
Rate of return 30% 61.6% 15% 15.8% 10.4% 12% 13.3% 14.1%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.07 8.909 8.632
Distribution rate 104% 105% 58.2% 202% 39.9% 42.6% 64.1% 70.1%
Net sales 1 452,668 641,256 509,987 527,918 470,950 562,491 538,580 521,505
EBITDA 1 234,576 340,482 261,016 264,987 231,111 294,240 281,789 273,794
EBIT 1 171,528 272,280 194,883 192,922 151,135 211,509 189,156 178,198
Net income 1 106,668 188,328 123,920 43,473 103,668 132,291 113,841 106,299
Net Debt 1 265,778 224,510 227,799 304,800 319,931 285,087 264,543 250,727
Reference price 2 28.45 24.50 37.24 36.19 30.82 42.95 42.95 42.95
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.($)
13.72x3.4x6.49x5.23% 1,713B
12.84x1.77x5.87x3.7% 382B
8.28x0.62x3.86x6.31% 288B
8.45x0.92x4.13x3.54% 245B
7.95x1.05x4.21x4.85% 188B
5.92x1.76x2.84x7.75% 151B
7.57x0.85x2.01x3.99% 93.97B
9.23x0.78x3.93x4.91% 74.74B
Average 9.24x 1.39x 4.17x 5.04% 392.01B
Weighted average by Cap. 11.68x 2.39x 5.48x 5.06%

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