Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 784,299 - -
Change - -10.81% 43.86% -1.45% -16.34% 91.17% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 1,068,863 1,039,409 1,025,106
Change - -12.73% 27.17% 9.62% -8.18% 46.38% -2.76% -1.38%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 4.34x 5.29x 6.12x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.41x 1.26x 1.15x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.3x -0.5x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.3x 1.37x 1.43x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.77x 1.81x 1.87x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 3.32x 3.42x 3.53x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.41x 4.81x 5.2x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 8.81x 8.32x 9.34x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 11.3% 12% 10.7%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 4.224 6.578 5.521
Rate of return 30% 61.6% 15% 15.8% 10.4% 7.43% 11.6% 9.71%
EPS 2 8.18 14.44 9.57 2.84 8.026 13.1 10.75 9.292
Distribution rate 104% 105% 58.2% 202% 39.9% 32.2% 61.2% 59.4%
Net sales 1 452,668 641,256 509,987 527,918 470,950 604,465 572,900 548,180
EBITDA 1 234,576 340,482 261,016 264,987 231,111 322,075 303,742 290,478
EBIT 1 171,528 272,280 194,883 192,922 151,135 242,304 216,246 196,986
Net income 1 106,668 188,328 123,920 43,473 103,668 156,280 128,878 117,645
Net Debt 1 265,778 224,510 227,799 304,800 319,931 284,564 255,110 240,807
Reference price 2 28.45 24.50 37.24 36.19 30.82 56.85 56.85 56.85
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 2/24/22 3/2/23 3/8/24 2/26/25 3/6/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.33x3.44x6.62x5.33% 1,661B
12.98x1.86x6.01x3.28% 427B
8.13x0.95x4.18x3.04% 293B
7.41x1.02x4.21x4.55% 199B
4.47x1.78x3.34x7.89% 157B
7.79x0.86x2.02x3.52% 106B
8.54x0.87x4.29x4.66% 83.75B
Average 8.95x 1.54x 4.38x 4.61% 418.06B
Weighted average by Cap. 11.54x 2.54x 5.71x 4.8%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Petrobras

Historical PBR trend

Valuation ratios - PBR - Petrobras

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Petrobras

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Petrobras


Year-on-year evolution of the Yield

Valuation ratios - Yield - Petrobras