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Petróleo Brasileiro S.A. - Petrobras

Petróleo Brasileiro S.A. - Petrobras

NYSE•PBR
CEO: Ms. Magda Maria de Regina Chambriard
Sector: Energy
Industry: Oil & Gas Integrated
Listing Date: 2000-08-10
Petróleo Brasileiro S.A. - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries. The Refining, Transportation and Marketing segment engages in the refining, logistics, transport, acquisition, and exports of crude oil; and production of fertilizers, as well as holding interests in petrochemical companies. The Gas and Power segment is involved in the logistic and trading of natural gas and electricity; transportation and trading of LNG; generation of electricity through thermoelectric power plants; renewable energy businesses; low carbon services; and natural gas processing business, as well as production of biodiesel and its co-products. The company also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons. In addition, it engages in research, development, production, transport, distribution, and trading of energy. Petróleo Brasileiro S.A. - Petrobras was incorporated in 1953 and is headquartered in Rio de Janeiro, Brazil.
Contact Information
Avenida Henrique Valadares, 28, 19th floor, Rio De Janeiro, RJ, 20241-030, Brazil
N/A
petrobras.com.br
Market Cap
$83.00B
P/E (TTM)
5.7
26.9
Dividend Yield
16.1%
52W High
$14.98
52W Low
$11.03
52W Range
47%
Rank45Top 43.2%
4.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$23.48B+0.47%
4-Quarter Trend

EPS

$0.94+2.17%
4-Quarter Trend

FCF

$4.97B-27.61%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Net Income Falls Sharply Net income US$7.6 B, down 69.6% from US$24.9 B; driven by massive US$15.1 B net finance expense in 2024.
Sales Revenue Decreases Sales revenues US$91.4 B, down 10.7% from US$102.4 B; Operating Income US$26.9 B, down 29.3% compared to prior year.
Capital Expenditures Increased Total CAPEX US$16.6 B in 2024, up 31.2% from US$12.7 B; focused on profitable oil and gas production projects.
Lifting Cost Rises Brazil Lifting Cost US$6.1 per boe, up 8.3% from US$5.6 per boe; Total production 2.7 M mboed, down 3%.

Risk Factors

Commodity Price Volatility Risk Results highly exposed to crude oil and gas price volatility; management prefers market exposure over derivatives for hedging cash flows.
Real Depreciation Increases Debt Cost Real depreciation negatively impacts debt service; 77.3% of finance debt denominated in foreign currencies as of year-end 2024.
Substantial Liabilities Pose Risk Substantial liabilities remain relevant; potential liquidity constraints in short/medium term could affect financing planned investments.
Health, Safety, Environmental Risks Operations face health, safety, and environmental risks potentially leading to accidents, losses, and legal liabilities across segments.

Outlook

Five-Year CAPEX Forecast CAPEX forecast US$111 B for 2025-2029; E&P segment allocated 69% of total investment, focusing on Pre-salt assets.
Increased Low Carbon Investment Energy transition investments total US$16.3 B, representing 15% of total CAPEX, a 42% increase over the previous plan.
Production Growth Targets Set Plan targets total production of 3.2 million boed by 2029, with Pre-salt expected to represent 81% of total production.
Refining Capacity Expansion Planned RT&M segment plans US$19.6 B investment; distillation capacity expected to increase from 1.813 M bbl/d to 2.105 M bbl/d.

Peer Comparison

Revenue (TTM)

BP p.l.c.BP
$187.67B
-4.0%
Equinor ASAEQNR
$107.07B
+2.2%
Eni S.p.A.E
$93.83B
-5.5%

Gross Margin (Latest Quarter)

The Williams Companies, Inc.WMB
83.9%
+25.0pp
EOG Resources, Inc.EOG
61.8%
-6.3pp
Suncor Energy Inc.SU
60.3%
+16.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BP$577.87B159.11.1%26.7%
PBR$83.00B5.719.9%31.0%
WMB$77.74B32.819.0%50.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
4.1%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 3, 2025|
    Revenue: $91.42B-13.4%
    |
    EPS: $2.34-70.3%
    Beat
  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 12, 2024|
    Revenue: $102.41B-15.2%
    |
    EPS: $0.78-29.9%
    Miss
  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 29, 2023|
    Revenue: $124.47B+48.2%
    |
    EPS: $5.62+84.9%
    Beat
  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 30, 2022|
    Revenue: $83.97B+56.4%
    |
    EPS: $3.05+17472.3%
    Beat
  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 25, 2021|
    Revenue: $53.68B-29.9%
    |
    EPS: $0.03-91.3%
    Beat