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PBRPetróleo Brasileiro S.A. - Petrobras
$18.53$119.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
PBR logo

Petróleo Brasileiro S.A. - Petrobras

PBR
NYSE · Integrated Oil & Gas
$18.53
At close - Nov 6, 4:00 PM EST - USD
Market Cap$119.41B
P/E4.7x
52W High$26.39
Volume17.03M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Pre-Salt Margin Surge Masks Persistent Liquidity Strain

Petrobras is executing a high-margin Pre-salt strategy, with gross margins expanding to 58.0% in 2026Q2 and net income reaching $10.4B, driven by low lifting costs and operating leverage.

GrowthMixed
ProfitabilityStrong
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

PBR price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-55% Peers

P/E is 55% below peer median

03

Market leadership

RS 61 · Avg

Average momentum (RS Rating: 61)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 10
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue rebounded sharply to $33.6B in 2026Q2 (up 59.8% YoY) with gross margin at 58.0% and net margin at 31.0%, though prior quarters showed volatility including a -13.4% net margin in 2024Q4.

Analyst Consensus+20.5% target
Buy(22 analysts)
11 Buy8 Hold3 Sell

The Bull Case

Upside Catalysts

Attractive valuation metrics

PBR's trailing and forward P/E ratios are low, indicating potential undervaluation relative to earnings.

Bullish analyst coverage

Multiple investment research platforms have published bullish theses on Petrobras, highlighting its investment potential.

Strong earnings potential

The forward P/E ratio suggests expectations of robust future earnings growth for Petrobras.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
PBR+64.41%
S&P 500 (^GSPC)+7.63%
1-Year Return
PBR+64.46%
S&P 500 (^GSPC)+9.69%
3-Year Return
PBR+53.33%
S&P 500 (^GSPC)+66.95%
5-Year Return
PBR+245.57%
S&P 500 (^GSPC)+55.35%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
4.7x
Forward P/EExpansion
3.8x
EV/EBITDA100th %ile
3.7x
FCF YieldCash Flow
15.6%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
4.7x
3.9x
80th· High
EV/EBITDA
3.7x
2.8x
100th· High
Price/FCF
6.4x
3.3x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$59.28+219.9%
Base (Fair)$100.35+441.6%
Bull$142.99+671.7%
$59.28 Bear$100.35 Base$142.99 Bull
Current Market Price: $18.53
Trades at a 81.5% discount to Base DCF ($100.35)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$88.1B-3.6% YoY
Net income FY25
$19.71B+161.9% YoY
Free cash flow FY25
$16.72B-28.4% YoY
Operating margin FY25
31.4%+3.3 pts YoY
ROIC (FY25)16.2%
Avg ROIC 5Y22.9%
ROE (TTM)30.5%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$1.62+15.7%
vs $1.40
$33.6B+6.8%
vs $31.5B
Q2 2026
May 11, 2026
$0.96-5.9%
vs $1.02
$23.5B-11.3%
vs $26.5B
Q2 2026
Mar 5, 2026
$0.72+26.3%
vs $0.57
$23.6B+2.2%
vs $23.1B
Q4 2025
Nov 6, 2025
$0.82+3.8%
vs $0.79
$23.5B-0.4%
vs $23.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Zacks Investment Research·1d ago
Petrobras Strengthens Oil Spill Response With New Vessel Charter

PBR strengthens offshore safety with a four-year oil spill response vessel charter, supporting emergency preparedness and its broader fleet expansion plans.

Zacks Investment Research·2d ago
Petrobras to Report Q3 Earnings: What's in the Cards for the Stock?

PBR gears up for Q3 earnings with record oil production, robust refined-product sales and exports, while rising costs and oil price volatility pose risks.

Zacks Investment Research·2d ago
Are You Looking for a High-Growth Dividend Stock?

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Petrobras (PBR) have what it takes?

Zacks Investment Research·3d ago
Petrobras (PBR) Stock Dips While Market Gains: Key Facts

The latest trading day saw Petrobras (PBR) settling at $19.61, representing a -6.97% change from its previous close.

Filtered for Petróleo Brasileiro S.A. - PetrobrasMore Headlines
04

Compare before deciding

Benchmark PBR against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Petróleo Brasileiro S.A. - Petrobras (PBR)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PBR logoPBRPetróleo Brasileiro S.A. - PetrobrasCurrent
$18.53$119.41B4.67-3.62%24.52%30.54%6.91%
XOM logoXOMExxon Mobil Corporation
$165.87$687.53B16.90-4.52%10.46%15.24%2.41%
CVX logoCVXChevron Corporation
$212.61$423.43B15.47-4.64%11.95%13.89%3.23%
SHEL logoSHELShell plc
$99.09$276.27B8.56-6.13%10.18%17.89%2.87%
BP logoBPBP p.l.c.
$44.53$116.6B12.930.08%3.79%11.75%4.28%
TTE logoTTETotalEnergies SE
$87.82$195.58B8.75-6.78%10.46%17.56%4.35%

Compare PBR vs Peers

Petróleo Brasileiro S.A. - Petrobras (PBR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs XOM

Most directly comparable listed peer for PBR.

Scale Benchmark

vs CVX

Larger-name benchmark to compare PBR against a more recognizable public peer.

Peer Set

Compare Top 5

vs XOM, CVX, SHEL, BP

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PBR Frequently Asked Questions

Petróleo Brasileiro S.A. - Petrobras (PBR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Petróleo Brasileiro S.A. - Petrobras's revenue?

Petróleo Brasileiro S.A. - Petrobras (PBR) reported $104.22B in revenue over the trailing twelve months. Revenue was $88.10B in fiscal year 2025. That is 439% more than the $16.36B of fiscal year 1999.

How fast is Petróleo Brasileiro S.A. - Petrobras growing?

Petróleo Brasileiro S.A. - Petrobras (PBR) grew revenue by 20.8% over the trailing twelve months, compared with the twelve months before.

Is PBR profitable?

Yes. Petróleo Brasileiro S.A. - Petrobras (PBR) earned $25.55B in net income over the trailing twelve months (a 24.5% net margin).

Dividend & Returns
Does PBR pay dividends?

Yes. Petróleo Brasileiro S.A. - Petrobras (PBR) pays a dividend that yields 6.91% at the current price, a high yield.

What is PBR's return on equity?

Petróleo Brasileiro S.A. - Petrobras (PBR) had a return on equity (ROE) of 30.5% over the trailing twelve months. That is well above the market's typical 10-15%.

What is Petróleo Brasileiro S.A. - Petrobras's free cash flow?

Petróleo Brasileiro S.A. - Petrobras (PBR) generated $18.68B in free cash flow over the trailing twelve months.

What if you invested $1,000 in PBR back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →