Petróleo Brasileiro S.A. - Petrobras (PBR) Financial Ratios
26 years of historical data (1999–2024) · Energy · Oil & Gas Integrated
EV/EBITDA
↓
3.62
↑+52% vs avg
5yr avg: 2.38
30Y Low1.2·High10.0
P/FCF
↓
3.47
↑+101% vs avg
5yr avg: 1.73
30Y Low0.9·High149.9
P/B Ratio
↓
1.18
↑+65% vs avg
5yr avg: 0.72
30Y Low0.4·High3.7
ROE
↑
10.9%
↑-58% vs avg
5yr avg: 26.0%
30Y Low-9%·High52%
Debt/EBITDA
↓
1.58
+9% vs avg
5yr avg: 1.45
30Y Low0.6·High4.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PBR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Petróleo Brasileiro S.A. - Petrobras trades at 9.3x earnings, 30% below its 5-year average of 13.3x, sitting at the 38th percentile of its historical range. Compared to the Energy sector median P/E of 17.1x, the stock trades at a discount of 46%. On a free-cash-flow basis, the stock trades at 3.5x P/FCF, 101% above the 5-year average of 1.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $81.0B | $41.4B | $52.0B | $34.7B | $35.8B | $73.2B | $104.0B | $84.9B | $67.1B | $65.9B | $28.0B |
| Enterprise Value | $138.0B | $98.5B | $101.9B | $80.5B | $84.1B | $137.1B | $183.7B | $155.3B | $153.9B | $163.1B | $129.2B |
| P/E Ratio → | 9.30 | 5.50 | 2.03 | 0.95 | 1.81 | 56.15 | 39.85 | 38.26 | — | — | — |
| P/S Ratio | 0.89 | 0.45 | 0.49 | 0.28 | 0.43 | 1.36 | 1.36 | 1.00 | 0.86 | 0.81 | 0.29 |
| P/B Ratio | 1.18 | 0.70 | 0.66 | 0.50 | 0.51 | 1.22 | 1.40 | 1.16 | 0.82 | 0.85 | 0.42 |
| P/FCF | 3.47 | 1.78 | 1.67 | 0.87 | 1.14 | 3.18 | 61.05 | 5.87 | 4.98 | 5.48 | 6.58 |
| P/OCF | 2.13 | 1.09 | 1.20 | 0.70 | 0.95 | 2.54 | 4.06 | 3.22 | 2.48 | 2.53 | 1.08 |
P/E links to full P/E history page with 30-year chart
PBR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Petróleo Brasileiro S.A. - Petrobras's enterprise value stands at 3.6x EBITDA, 52% above its 5-year average of 2.4x. The Energy sector median is 8.0x, placing the stock at a 55% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.08 | 0.97 | 0.65 | 1.00 | 2.55 | 2.40 | 1.84 | 1.98 | 2.00 | 1.33 |
| EV / EBITDA | 3.62 | 2.58 | 1.81 | 1.21 | 1.97 | 4.35 | 5.14 | 4.48 | 6.73 | 5.50 | 4.92 |
| EV / EBIT | 5.37 | 6.57 | 2.42 | 1.42 | 2.53 | 24.72 | 9.83 | 9.56 | 20.98 | 70.30 | — |
| EV / FCF | — | 4.22 | 3.28 | 2.01 | 2.67 | 5.96 | 107.88 | 10.75 | 11.42 | 13.56 | 30.34 |
PBR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Petróleo Brasileiro S.A. - Petrobras earns an operating margin of 28.1%, above the Energy sector average of 14.4%. Operating margins have compressed from 42.8% to 28.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 10.9% is modest. ROIC of 15.7% represents solid returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.3% | 50.3% | 52.7% | 52.2% | 48.6% | 45.6% | 40.3% | 38.3% | 34.3% | 31.9% | 30.7% |
| Operating Margin | 28.1% | 28.1% | 45.0% | 42.8% | 36.9% | 37.3% | 27.3% | 26.9% | 12.5% | 19.3% | 15.1% |
| Net Profit Margin | 8.2% | 8.2% | 24.3% | 29.4% | 23.7% | 2.1% | 13.3% | 8.5% | -0.1% | -5.9% | -8.7% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.9% | 10.9% | 34.5% | 52.5% | 30.7% | 1.7% | 13.8% | 9.3% | -0.1% | -6.7% | -9.2% |
| ROA | 3.8% | 3.8% | 12.7% | 20.3% | 10.9% | 0.5% | 4.5% | 3.0% | -0.0% | -2.0% | -3.2% |
| ROIC | 15.7% | 15.7% | 29.1% | 34.2% | 19.2% | 10.8% | 10.5% | 11.0% | 4.2% | 6.9% | 5.5% |
| ROCE | 15.4% | 15.4% | 28.0% | 34.8% | 19.7% | 11.0% | 10.5% | 10.8% | 4.3% | 7.4% | 6.3% |
PBR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Petróleo Brasileiro S.A. - Petrobras carries a Debt/EBITDA ratio of 1.6x, which is manageable (33% below the sector average of 2.4x). Net debt stands at $57.0B ($60.3B total debt minus $3.3B cash). Interest coverage of 8.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 0.79 | 0.77 | 0.84 | 1.26 | 1.17 | 1.15 | 1.34 | 1.53 | 1.91 |
| Debt / EBITDA | 1.58 | 1.58 | 1.11 | 0.81 | 1.38 | 2.40 | 2.44 | 2.43 | 4.78 | 3.99 | 4.80 |
| Net Debt / Equity | — | 0.96 | 0.63 | 0.66 | 0.69 | 1.07 | 1.07 | 0.96 | 1.06 | 1.25 | 1.53 |
| Net Debt / EBITDA | 1.49 | 1.49 | 0.88 | 0.69 | 1.13 | 2.03 | 2.23 | 2.03 | 3.79 | 3.28 | 3.85 |
| Debt / FCF | — | 2.44 | 1.60 | 1.14 | 1.53 | 2.77 | 46.83 | 4.88 | 6.44 | 8.08 | 23.76 |
| Interest Coverage | 8.08 | 8.08 | 15.57 | 18.63 | 9.45 | 4.76 | 3.86 | 5.23 | 1.80 | 2.61 | 2.88 |
PBR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.69x is below 1.0, meaning current liabilities exceed current assets — though the company's $3.3B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 1.00x to 0.69x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.69 | 0.69 | 0.96 | 1.00 | 1.25 | 1.04 | 0.97 | 1.48 | 1.89 | 1.80 | 1.51 |
| Quick Ratio | 0.48 | 0.48 | 0.73 | 0.72 | 0.95 | 0.83 | 0.68 | 1.12 | 1.55 | 1.46 | 1.25 |
| Cash Ratio | 0.24 | 0.24 | 0.46 | 0.34 | 0.46 | 0.47 | 0.29 | 0.60 | 0.98 | 0.88 | 0.90 |
| Asset Turnover | — | 0.50 | 0.49 | 0.66 | 0.48 | 0.28 | 0.33 | 0.38 | 0.31 | 0.33 | 0.42 |
| Inventory Turnover | 6.77 | 6.77 | 6.50 | 6.78 | 5.95 | 5.14 | 5.58 | 5.81 | 6.03 | 6.54 | 9.07 |
| Days Sales Outstanding | — | 22.09 | 25.29 | 18.52 | 33.53 | 49.81 | 34.82 | 33.56 | 34.72 | 32.60 | 31.14 |
PBR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Petróleo Brasileiro S.A. - Petrobras returns 26.6% to shareholders annually — split between a 26.1% dividend yield and 0.5% buyback yield. The payout ratio exceeds 100% at 243.5%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 10.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 26.1% | 44.2% | 38.8% | 100.0% | 36.5% | 1.9% | 1.8% | 0.7% | — | — | — |
| Payout Ratio | 243.5% | 243.5% | 78.6% | 102.9% | 65.8% | 119.8% | 18.5% | 8.7% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.7% | 18.2% | 49.3% | 105.5% | 55.4% | 1.8% | 2.5% | 2.6% | — | — | — |
| FCF Yield | 28.8% | 56.3% | 59.8% | 115.6% | 87.9% | 31.4% | 1.6% | 17.0% | 20.1% | 18.2% | 15.2% |
| Buyback Yield | 0.5% | 0.9% | 1.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 26.6% | 45.1% | 40.2% | 100.0% | 36.5% | 1.9% | 1.8% | 0.7% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $3.2B | $3.3B | $3.3B | $3.3B | $6.5B | $6.5B | $6.5B | $6.5B | $6.5B | $6.5B |
Peer Comparison
Compare PBR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PBRYou | $81B | 9.3 | 3.6 | 3.5 | 50.3% | 28.1% | 10.9% | 15.7% | 1.6 |
 XOM | $656B | 23.1 | 11.5 | 27.8 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
 CVX | $384B | 29.1 | 11.4 | 23.2 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
 SHEL | $254B | 14.9 | 7.9 | 11.6 | 16.7% | 7.3% | 10.1% | 6.3% | 2.5 |
 BP | $121B | 2279.4 | 5.0 | 10.7 | 17.7% | 8.2% | 0.1% | 9.8% | 2.5 |
 TTE | $208B | 16.2 | 7.2 | 19.3 | 28.4% | 10.9% | 11.0% | 9.9% | 1.8 |
 E | $83B | 32.1 | 7.9 | 15.9 | 5.5% | 7.3% | 4.6% | 5.2% | 3.0 |
 EC | $29B | 12.9 | 5.3 | 6.7 | 31.4% | 22.3% | 7.7% | 8.8% | 2.8 |
 COP | $150B | 19.4 | 7.2 | 9.0 | 24.6% | 19.6% | 12.4% | 10.4% | 1.0 |
 OXY | $59B | 36.9 | 7.1 | 14.3 | 33.8% | 17.2% | 6.7% | 4.7% | 2.1 |
 EOG | $75B | 15.5 | 6.3 | 19.2 | 68.1% | 35.1% | 16.8% | 19.1% | 0.7 |
| Energy Median | — | 17.1 | 8.0 | 13.8 | 33.2% | 14.4% | 8.5% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Full PBR Stock Analysis
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Start ComparisonPBR — Frequently Asked Questions
Quick answers to the most common questions about buying PBR stock.
What is Petróleo Brasileiro S.A. - Petrobras's P/E ratio?
Petróleo Brasileiro S.A. - Petrobras's current P/E ratio is 9.3x. The historical average is 18.4x. This places it at the 38th percentile of its historical range.
What is Petróleo Brasileiro S.A. - Petrobras's EV/EBITDA?
Petróleo Brasileiro S.A. - Petrobras's current EV/EBITDA is 3.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.9x.
What is Petróleo Brasileiro S.A. - Petrobras's ROE?
Petróleo Brasileiro S.A. - Petrobras's return on equity (ROE) is 10.9%. The historical average is 18.6%.
Is PBR stock overvalued?
Based on historical data, Petróleo Brasileiro S.A. - Petrobras is trading at a P/E of 9.3x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Petróleo Brasileiro S.A. - Petrobras's dividend yield?
Petróleo Brasileiro S.A. - Petrobras's current dividend yield is 26.13% with a payout ratio of 243.5%.
What are Petróleo Brasileiro S.A. - Petrobras's profit margins?
Petróleo Brasileiro S.A. - Petrobras has 50.3% gross margin and 28.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Petróleo Brasileiro S.A. - Petrobras have?
Petróleo Brasileiro S.A. - Petrobras's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.