Petróleo Brasileiro S.A. - Petrobras (PBR) quarterly cash flow statement — complete operating, investing & financing history
Petróleo Brasileiro S.A. - Petrobras (PBR) cash flow statement — 27-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 11.89B | 7.78B | 9.75B | 9.86B | 7.53B | 8.5B | 8.2B | 11.31B | 9.09B | 9.39B | 11.67B | 11.55B | 9.64B | 10.35B | 12.85B | 12.06B | 14.5B | 10.31B | 9.2B | 10.53B |
| Operating CF Margin % | 35.38% | 33.05% | 41.31% | 41.98% | 35.8% | 40.33% | 39.41% | 48.39% | 38.72% | 39.49% | 43.05% | 45.22% | 40.56% | 37.71% | 42.58% | 37.22% | 41.77% | 37.91% | 38.27% | 45.27% |
| Operating CF Growth % | 57.86% | -8.48% | 18.88% | -12.83% | -17.12% | -9.46% | -29.69% | -2.14% | -5.76% | -9.29% | -9.18% | -4.23% | -33.49% | 0.38% | 39.71% | 14.59% | 33.94% | 42.3% | 30.03% | 22.65% |
| Net Income | 10.44B | 6.21B | 3.38B | 6.05B | 4.76B | 6B | -2.76B | 5.89B | -325M | 4.8B | 6.28B | 5.48B | 5.86B | 7.37B | 8.28B | 8.79B | 11.04B | 8.65B | 5.68B | 5.95B |
| Depreciation & Amortization | 4.27B | 3.96B | 4.35B | 605M | 3.7B | 3.25B | 2.78B | 122M | 3.14B | 3.36B | 3.63B | 52M | 3.25B | 2.92B | 3.32B | 3.27B | 3.46B | 3.17B | 2.91B | 3.11B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 3.63B | 720.66M | 304.24M | 2.23B | 1.65B | 3.11B | -788M | 2.21B | -27M | 2.15B | 1.97B | 2.26B | 2.58B | 3.6B | 14.53B | 3.89B | 5.3B | 4.57B | 57M | 105M |
| Other Non-Cash Items | -2.32B | -1.25B | 1.66B | 2.81B | -741M | -2.81B | 10.25B | 3.6B | 7.13B | 147M | 1.05B | 5.4B | -1.26B | -3.46B | -1.64B | -1.32B | -2.53B | -2.36B | -567M | 750M |
| Working Capital Changes | -4.13B | -1.87B | 62.83M | -1.84B | -1.84B | -1.05B | -1.28B | -511M | -824M | -1.07B | -1.26B | -1.65B | -779M | -80M | -11.64B | -2.56B | -2.78B | -3.72B | 1.12B | 611M |
| Change in Receivables | -1.96B | -239.14M | -1.98M | -596M | -50M | 172M | 200M | 163M | 855M | 604M | -499M | -588M | 763M | 412M | -374M | 672M | -584M | 641M | -588M | -752M |
| Change in Inventory | -422.95M | -779.64M | 262.42M | -307M | -494M | -359M | 59M | 1M | 272M | -627M | 432M | 52M | 91M | 989M | 1.38B | -561M | -117M | -1.92B | -170M | -585M |
| Change in Payables | -774.64M | -285.94M | 1.16B | -58M | 457M | -539M | 352M | 387M | -179M | 407M | 63M | -726M | 187M | -478M | -18M | -200M | -3M | -138M | 223M | 510M |
| Cash from Investing | -5.89B | -3.72B | -6.53B | -4.76B | -2.56B | -1.77B | -3.27B | -4.74B | -2.03B | -3.32B | -3.23B | -2.83B | -795M | -1.1B | -2.35B | -720M | 3.62B | -988M | 557M | 3.95B |
| Capital Expenditures | -4.57B | -4.52B | -6.91B | -4.89B | -4.08B | -3.96B | -4.43B | -4.44B | -2.93B | -2.84B | -3.59B | -3.19B | -2.91B | -2.42B | -3.56B | -1.95B | -1.7B | -2.38B | -1.69B | -1.5B |
| CapEx % of Revenue | 13.59% | 19.19% | 29.26% | 20.82% | 19.41% | 18.8% | 21.28% | 19.01% | 12.5% | 11.94% | 13.26% | 12.46% | 12.25% | 8.83% | 11.8% | 6.01% | 4.89% | 8.74% | 7.01% | 6.47% |
| Acquisitions | -31.86M | 113.96M | 0 | -2M | -2M | 0 | -9M | -7M | -5M | -1M | -2M | -5M | -9M | -8M | -7M | -1M | -10M | -9M | -9M | -4M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -1.29B | 312.96M | 381.84M | 124M | 1.52B | 2.19B | 2.75M | 82M | 907M | -485M | 368M | -144M | -339.18M | 6.07B | 1.22B | 735M | 6.97B | 1.87B | 2.25B | 5.46B |
| Cash from Financing | -6.18B | -4.02B | -5.51B | -3.22B | -2.73B | -5.43B | -9.65B | -5.89B | -10.37B | -7.17B | -7.87B | -7.05B | -8.81B | -6.97B | -7.05B | -23.16B | -18.1B | -3.15B | -9.89B | -12.98B |
| Debt Issued (Net) | -4.62B | -9.5B | -4.2B | -521M | -777M | -2.07B | -3.83B | -2.84B | -2.71B | -2.92B | -2.59B | -1.39B | -2.19B | -2.09B | -2.61B | -1.44B | -5.17B | -2.66B | -2.24B | -8.33B |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 4.86M | 0 | -148M | -464M | 0 | -197M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -1.55B | -2.21B | -1.63B | -2.03B | -1.71B | -2.88B | -6.03B | -2.29B | -7.12B | -3.46B | -4.44B | -4.84B | -6.21B | -4.19B | -4.03B | -21.24B | -12.43B | 0 | -7.25B | -3.98B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 4.86M | 0 | -148M | -232M | 0 | -197M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -10.37M | 7.69B | 318.06M | -667M | -246M | -484M | 201.6M | -766M | -389M | -326M | -842M | -620M | -409M | -693M | -405M | -472M | -503M | -488M | -402M | -676M |
| Net Change in Cash | 1.3B | 499.81M | -1.31B | 1.97B | 2.3B | 1.42B | -5.42B | 810M | -3.66B | -1.18B | 617M | 1.76B | 61M | 2.29B | 3.62B | -11.92B | -938M | 6.75B | -445M | 1.1B |
| Free Cash Flow | 7.26B | 3.26B | 3.19B | 4.97B | 3.45B | 4.54B | 3.77B | 6.86B | 6.15B | 6.55B | 8.07B | 8.37B | 6.73B | 7.92B | 9.29B | 10.12B | 12.8B | 7.93B | 7.51B | 9.02B |
| FCF Margin % | 21.6% | 13.86% | 13.53% | 21.17% | 16.39% | 21.53% | 18.14% | 29.38% | 26.22% | 27.55% | 29.79% | 32.75% | 28.31% | 28.88% | 30.78% | 31.21% | 36.88% | 29.17% | 31.26% | 38.8% |
| FCF Growth % | 110.56% | -28.08% | -15.4% | -27.61% | -43.98% | -30.73% | -53.25% | -17.98% | -8.57% | -17.36% | -13.05% | -17.28% | -47.42% | -0.1% | 23.65% | 12.12% | 37.06% | 41.79% | 32.14% | 20.81% |
| FCF per Share | 1.13 | 0.51 | 0.50 | 0.77 | 0.53 | 0.70 | 0.59 | 1.06 | 0.95 | 1.01 | 1.25 | 1.28 | 1.03 | 1.21 | 1.42 | 1.55 | 1.96 | 1.22 | 1.15 | 1.38 |
| FCF Conversion (FCF/Net Income) | 1.14x | 1.25x | 3.38x | 1.64x | 1.59x | 1.42x | -2.95x | 1.93x | -26.42x | 1.96x | 1.86x | 2.12x | 1.60x | 1.37x | 1.56x | 1.38x | 1.32x | 1.20x | 1.63x | 1.77x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |