Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 520,067 - -
Change - -10.81% 43.86% -1.45% -16.34% 26.77% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 804,836 784,285 770,266
Change - -12.73% 27.17% 9.62% -8.18% 10.22% -2.55% -1.79%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 3.15x 4.26x 4.4x
PBR 0.96x 0.88x 1.27x 1.27x 1x 0.99x 0.89x 0.82x
PEG - 0x -0.1x -0.2x 0x 0.1x -0.2x -1.42x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 0.92x 0.96x 0.99x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.42x 1.45x 1.47x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.74x 2.79x 2.82x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.8x 4.12x 4.31x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.5x 7.67x 8.06x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 15.4% 13% 12.4%
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% 13.6% 15% 15.9%
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 1 452,668 641,256 509,987 527,918 470,950 566,630 541,731 524,516
EBITDA 1 234,576 340,482 261,016 264,987 231,111 293,309 281,595 273,604
EBIT 1 171,528 272,280 194,883 192,922 151,135 211,706 190,170 178,866
Net income 1 106,668 188,328 123,920 43,473 103,668 131,166 114,566 107,920
Net Debt 1 265,778 224,510 227,799 304,800 319,931 284,769 264,218 250,199
Reference price 2 28.45 24.50 37.24 36.19 30.82 37.96 37.96 37.96
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.($)
13.19x3.28x6.29x5.33% 1,682B
11.11x1.55x5.24x4.21% 335B
7.49x0.79x3.63x4.02% 216B
6.75x0.94x3.72x5.38% 170B
6.59x0.71x1.68x4.94% 79.63B
8.09x0.74x3.58x5.37% 68.68B
Average 8.87x 1.33x 4.02x 4.88% 425.04B
Weighted average by Cap. 11.66x 2.54x 5.54x 5.07%

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