Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,87,853 3,45,928 4,97,645 4,90,407 4,10,255 7,90,351 - -
Change - -10.81% 43.86% -1.45% -16.34% 92.65% - -
Enterprise Value (EV) 1 6,53,631 5,70,438 7,25,444 7,95,207 7,30,186 10,74,915 10,45,461 10,31,159
Change - -12.73% 27.17% 9.62% -8.18% 47.21% -2.74% -1.37%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 4.28x 5.24x 6.17x
PBR 0.96x 0.88x 1.27x 1.27x 1x 1.43x 1.27x 1.16x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.3x -0.4x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 1.3x 1.37x 1.46x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.77x 1.82x 1.91x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 3.33x 3.41x 3.6x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 4.38x 4.69x 5.27x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 8.86x 8.37x 9.4x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 11.3% 11.9% 10.6%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 4.577 6.604 5.521
Rate of return 30% 61.6% 15% 15.8% 10.4% 7.98% 11.5% 9.63%
EPS 2 8.18 14.44 9.57 2.84 8.026 13.41 10.95 9.292
Distribution rate 104% 105% 58.2% 202% 39.9% 34.1% 60.3% 59.4%
Net sales 1 4,52,668 6,41,256 5,09,987 5,27,918 4,70,950 6,05,743 5,75,355 5,39,675
EBITDA 1 2,34,576 3,40,482 2,61,016 2,64,987 2,31,111 3,22,833 3,06,764 2,86,551
EBIT 1 1,71,528 2,72,280 1,94,883 1,92,922 1,51,135 2,45,468 2,22,776 1,95,731
Net income 1 1,06,668 1,88,328 1,23,920 43,473 1,03,668 1,56,825 1,31,012 1,14,573
Net Debt 1 2,65,778 2,24,510 2,27,799 3,04,800 3,19,931 2,84,564 2,55,110 2,40,807
Reference price 2 28.45 24.50 37.24 36.19 30.82 57.36 57.36 57.36
Nbr of stocks (in thousands) 1,30,44,201 1,30,44,201 1,30,15,466 1,28,88,733 1,28,88,733 1,28,88,733 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.07x3.37x6.5x5.44% 1,63000Cr
12.89x1.86x5.96x3.25% 43TCr
8.22x0.95x4.22x3.01% 30TCr
7.47x1.03x4.23x4.52% 20TCr
4.28x1.77x3.33x7.98% 16TCr
7.87x0.86x2.04x3.48% 11TCr
8.58x0.87x4.29x4.64% 8.42TCr
9.15x1.68x5.53x7.38% 4.82TCr
Average 8.94x 1.55x 4.51x 4.96% 36.9TCr
Weighted average by Cap. 11.33x 2.48x 5.63x 4.89%

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