Company Valuation: Petrobras

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 387,853 345,928 497,645 490,407 410,255 516,814 - -
Change - -10.81% 43.86% -1.45% -16.34% 25.97% - -
Enterprise Value (EV) 1 653,631 570,438 725,444 795,207 730,186 803,949 786,894 777,804
Change - -12.73% 27.17% 9.62% -8.18% 10.1% -2.12% -1.16%
P/E 3.48x 1.7x 3.89x 12.7x 3.84x 2.96x 4.07x 4.4x
PBR 0.96x 0.88x 1.27x 1.27x 1x 0.96x 0.87x 0.8x
PEG - 0x -0.1x -0.2x 0x 0x -0.1x -0.57x
Capitalization / Revenue 0.86x 0.54x 0.98x 0.93x 0.87x 0.92x 0.95x 0.99x
EV / Revenue 1.44x 0.89x 1.42x 1.51x 1.55x 1.43x 1.44x 1.49x
EV / EBITDA 2.79x 1.68x 2.78x 3x 3.16x 2.74x 2.77x 2.85x
EV / EBIT 3.81x 2.1x 3.72x 4.12x 4.83x 3.79x 4.07x 4.37x
EV / FCF 3.87x 2.77x 4.54x 5.84x 8.37x 6.5x 7.69x 8.14x
FCF Yield 25.9% 36.1% 22% 17.1% 12% 15.4% 13% 12.3%
Dividend per Share 2 8.534 15.09 5.569 5.734 3.199 5.127 5.692 5.706
Rate of return 30% 61.6% 15% 15.8% 10.4% 13.6% 15.1% 15.1%
EPS 2 8.18 14.44 9.57 2.84 8.026 12.79 9.296 8.582
Distribution rate 104% 105% 58.2% 202% 39.9% 40.1% 61.2% 66.5%
Net sales 1 452,668 641,256 509,987 527,918 470,950 562,505 545,090 522,651
EBITDA 1 234,576 340,482 261,016 264,987 231,111 293,371 284,240 272,852
EBIT 1 171,528 272,280 194,883 192,922 151,135 212,341 193,288 177,846
Net income 1 106,668 188,328 123,920 43,473 103,668 129,549 116,897 107,619
Net Debt 1 265,778 224,510 227,799 304,800 319,931 287,134 270,080 260,990
Reference price 2 28.45 24.50 37.24 36.19 30.82 37.80 37.80 37.80
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.($)
13.12x3.25x6.26x5.33% 1,682B
10.88x1.52x5.16x4.3% 328B
6.93x0.51x3.23x7.58% 230B
7.44x0.79x3.6x4% 217B
6.7x0.94x3.69x5.31% 173B
4.92x1.43x2.31x9.21% 127B
6.44x0.7x1.66x4.99% 78.86B
8.12x0.71x3.54x5.31% 69.27B
Average 8.07x 1.23x 3.68x 5.75% 363.04B
Weighted average by Cap. 10.91x 2.31x 5.18x 5.45%

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