Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 538,264 - -
Change - -10.81% 43.86% -1.45% -16.34% 31.2% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 825,397 808,365 799,300
Change - -12.73% 27.17% 9.62% -8.18% 13.04% -2.06% -1.12%
P/E Ratio 3.48x 1.7x 3.89x 12.7x 3.84x 3.07x 4.18x 4.6x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1x 0.9x 0.83x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -0.5x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 0.95x 0.99x 1.03x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.46x 1.48x 1.53x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.82x 2.84x 2.94x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.9x 4.17x 4.52x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.67x 7.9x 8.36x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 15% 12.7% 12%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.19 5.68 5.574
Rate of return 30% 61.6% 15% 15.8% 10.4% 13.3% 14.5% 14.3%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.72 9.353 8.498
Distribution rate 104% 105% 58.2% 202% 39.9% 40.8% 60.7% 65.6%
Net sales 1 452,668 641,256 509,987 527,918 470,950 564,188 545,868 521,934
EBITDA 1 234,576 340,482 261,016 264,987 231,111 292,805 284,633 272,081
EBIT 1 171,528 272,280 194,883 192,922 151,135 211,521 193,889 176,942
Net income 1 106,668 188,328 123,920 43,473 103,668 129,119 117,237 107,117
Net Debt 1 265,778 224,510 227,799 304,800 319,931 287,134 270,101 261,037
Reference price 2 28.45 24.50 37.24 36.19 30.82 39.06 39.06 39.06
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 24/2/22 2/3/23 8/3/24 26/2/25 6/3/26 - - -
1BRL in Million2BRL
Estimates

P/E Ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.16x3.27x6.32x5.24% 1,713B
11.9x1.63x5.54x3.95% 357B
8.12x0.57x3.78x6.46% 269B
7.76x0.83x3.78x3.76% 231B
7.2x1.03x3.97x4.83% 188B
5.85x1.66x2.67x7.76% 152B
6.94x0.75x1.75x4.61% 85.19B
8.71x0.72x3.71x4.95% 75.49B
Average 8.70x 1.31x 3.94x 5.2% 383.86B
Weighted average by Cap. 11.16x 2.31x 5.30x 5.16%

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

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