Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 529,082 - -
Change - -10.81% 43.86% -1.45% -16.34% 28.96% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 816,036 795,886 782,252
Change - -12.73% 27.17% 9.62% -8.18% 11.76% -2.47% -1.71%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.18x 4.31x 4.45x
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 -1.44x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 0.93x 0.98x 1.01x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.44x 1.47x 1.49x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.78x 2.83x 2.86x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.86x 4.21x 4.39x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.59x 7.78x 8.19x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 15.2% 12.8% 12.2%
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% 13.4% 14.9% 15.7%
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 1 452,668 641,256 509,987 527,918 470,950 567,014 541,333 524,808
EBITDA 1 234,576 340,482 261,016 264,987 231,111 293,580 281,012 273,359
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 43,473 103,668 131,012 113,794 107,439
Net Debt 1 265,778 224,510 227,799 304,800 319,931 286,954 266,804 253,171
Reference price 2 28.45 24.50 37.24 36.19 30.82 38.44 38.44 38.44
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 A 3/2/23 A 3/8/24 A 2/26/25 A 3/6/26 A - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.22x3.29x6.3x5.32% 1,686B
11.42x1.59x5.38x4.1% 344B
7.78x0.82x3.75x3.86% 224B
6.83x0.95x3.76x5.31% 172B
6.87x0.74x1.74x4.74% 82.93B
8.14x0.73x3.57x5.34% 68.9B
Average 9.04x 1.36x 4.08x 4.78% 429.66B
Weighted average by Cap. 11.74x 2.54x 5.56x 5.01%

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