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Petróleo Brasileiro S.A. - PetrobrasNYSE:PBR Stock Report

Market Cap US$117.8b
Share Price
n/a
1Y49.0%
7D4.5%
1D-1.2%
Portfolio Value
​
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Petróleo Brasileiro S.A. - Petrobras

NYSE:PBR Stock Report

Market Cap: US$117.8b

Petróleo Brasileiro - Petrobras (PBR) Stock Overview

Explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. More details

PBR fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health4/6
Dividends4/6

Rewards

Trading at 67.7% below our estimate of its fair value

Earnings grew by 123.6% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 3.3% per year for the next 3 years

Unstable dividend track record


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Petróleo Brasileiro S.A. - Petrobras Competitors

Price History & Performance

Summary of share price highs, lows and changes for Petróleo Brasileiro - Petrobras
Historical stock prices
Current Share PriceR$18.77
52 Week HighR$22.24
52 Week LowR$11.43
Beta-0.14
1 Month Change14.10%
3 Month Change-10.06%
1 Year Change48.97%
3 Year Change34.75%
5 Year Change75.91%
Change since IPO162.29%

Recent News & Updates

Seeking Alpha • Jul 01

Petrobras: Buy This Bargain As Dividends Will Soar

Summary Petrobras offers strong assets, rapid production growth, robust cash flows, and an attractive dividend yield at a deeply discounted valuation. Following a 30% share price pullback, PBR trades at less than 4x forward earnings, with a forward earnings yield exceeding 25%. PBR's production is up 20% versus 2024, with plans to add 700,000 barrels/day by 2027, supporting higher future cash flows and dividends. Political risks remain, but current pricing more than compensates; forward dividend yield is likely at least 8%, with potential for double-digit payouts. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Jul 01

Petrobras: Buy This Bargain As Dividends Will Soar

Summary Petrobras offers strong assets, rapid production growth, robust cash flows, and an attractive dividend yield at a deeply discounted valuation. Following a 30% share price pullback, PBR trades at less than 4x forward earnings, with a forward earnings yield exceeding 25%. PBR's production is up 20% versus 2024, with plans to add 700,000 barrels/day by 2027, supporting higher future cash flows and dividends. Political risks remain, but current pricing more than compensates; forward dividend yield is likely at least 8%, with potential for double-digit payouts. Read the full article on Seeking Alpha
Seeking Alpha • Apr 16

Petrobras & Suncor Energy: For International Diversification, Consider Suncor

Summary Both Petrobras and Suncor Energy align well with Ray Dalio’s investing principles, offering geographical diversification and commodity exposure amidst U.S.-China trade tensions. PBR and SU are less sensitive to the U.S.-China trade conflict (than say US or Chinese companies) and could potentially even benefit from U.S.-China tariff conflicts. Both companies have significantly reduced debt, improved their financial strength, and enhanced their capital allocation flexibility in recent years. We prefer SU better for its better ROIC, strong financial strength, and also more discounted valuation compared to their historical averages. Read the full article on Seeking Alpha
Seeking Alpha • Mar 29

Petrobras: High Dividend Value

Summary Despite a decline in production and adjusted EBITDA in FY 2024, Petrobras remained highly profitable. Given its dividend and excessive safety margin in terms of valuation, Petrobras remains a compelling investment, despite the share price moving only sideways in the last year. Petrobras is set to benefit from potential OPEC+ supply restrictions in FY 2025, which could set positive impulses for petroleum pricing. Petrobras is trading at a low P/E ratio of 4.9X (20% earnings yield) and offers higher earnings value compared to U.S. energy giants like Exxon Mobil and Chevron. Risks include government influence, currency volatility, and potential reductions in cash returns, but the company’s deleveraging efforts and low debt levels are positive signs. Read the full article on Seeking Alpha
Seeking Alpha • Mar 01

Petrobras Q4 Earnings: Unpacking The Latest Concerns

Summary Petrobras' 4Q24 results were marked by higher CapEx which negatively impacted dividends and raised concerns about its long-term dividend strategy. A leverage ratio increase and a 25% yearly drop in free cash flow signal financial strain amid rising investments. Political and environmental challenges, plus uncertain catalysts, make Petrobras' future outlook more risky. Despite falling share prices, Petrobras' current valuation is less attractive compared to previous periods, with a decrease in earnings yield. Read the full article on Seeking Alpha
Seeking Alpha • Feb 20

High Rates, High Returns: How Petrobras Thrives Amid Treasury Turmoil

Summary Petróleo Brasileiro S.A. - Petrobras remains fundamentally strong despite a 16% share price drop, offering a 20% forward yield and robust cash flow. PBR benefits from both rising interest rates, which boost oil prices, and falling rates, which weaken the dollar and favor international stocks. Technical indicators suggest a bullish trend, though political risks from Brazilian government influence remain a concern. Overall, PBR is attractively priced post-sell-off, providing value, income, and diversification, making it a strong investment for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Jan 28

Petrobras Stock Is On Sale, Reiterating 'Buy'

Summary Petrobras' strong financials, disciplined capital allocation, and world-class asset base position it as a standout in the global energy market, despite local headwinds. The stock's forward EV/EBITDA valuation of less than 2.2x indicates significant upside potential, especially as leverage continues to decline. Petrobras' low-cost operations, premium-quality crude oil, and strategic debt reduction enhance its attractiveness, making it a bargain in the O&G market. I reiterate a "Buy" rating on Petrobras, expecting it to thrive as market conditions improve and investor interest in Brazilian equities returns. Read the full article on Seeking Alpha
Seeking Alpha • Jan 22

Why Petrobras Could Be The Value Stock Your Portfolio Needs

Summary Diversification into non-U.S. stocks like Petrobras can hedge against USD weakness, offering high yields and discounted valuations compared to U.S. peers. Petrobras' operational resilience, robust production, and strong cash flows make it attractive despite political risks from Brazilian government majority ownership. Strategic investments in high-return pre-salt projects and disciplined financial management have significantly strengthened Petrobras' balance sheet, reducing debt to its lowest level since 2008. With a forward P/E of 6.7 for PBR and 5.7 for PBR.A, and a variable but attractive dividend, Petrobras offers high income potential and value. Read the full article on Seeking Alpha
Seeking Alpha • Jan 03

Petrobras: Expanding Production At Attractive Breakeven Economics

Summary Petrobras is due to increase upstream production at attractive low-cost economics. The 2025 outlook for oil prices shows little scope for pricing-related upside. So volume growth is likely to be the key fundamental driver for the year ahead. Valuations are at an attractive 27% discount vs. peers from a 1-yr fwd EV/EBITDA perspective. The PBR vs. SPX500 monthly charts show a bullish outlook emerging from support levels. A reversal in falling EBITDA expectations would prompt me to add size to buy positions. Read the full article on Seeking Alpha
Seeking Alpha • Dec 22

Petrobras Stock Is Now Too Undervalued (Rating Upgrade)

Summary I'm upgrading Petrobras (PBR) (PBR.A) to "Buy" due to its undervaluation amid strong production levels and disciplined financial control despite macro and idiosyncratic risks. Brazil's tight monetary policy and fiscal concerns, along with lower refining margins, have pressured PBR's stock, but its fundamentals remain strong. Petrobras' increasing production, high utilization rates, and healthy balance sheet support its ability to maintain high dividends and execute its $111 billion investment plan. Despite risks, PBR's FCF yield of over 37% and significant undervaluation compared to peers justify a bullish outlook and the recent upgrade to "Buy". Read the full article on Seeking Alpha
Seeking Alpha • Dec 12

Petrobras: Massive Dividends And No Lula Problems

Summary Petrobras is a highly profitable oil company with attractive growth projects and a very high dividend yield, making it a compelling investment. The company's new 5-year plan includes $111 billion in investments, expected to generate significant free cash flows and maintain high dividend payouts. Political risks from Brazil's President Lula exist but are not dramatic, with no significant negative impact on Petrobras so far. Trading at just 2.4x forward EBITDA, PBR stock is ultra-cheap, offering a double-digit dividend yield, making it a strong addition to a diversified portfolio. Read the full article on Seeking Alpha
Seeking Alpha • Nov 28

Petrobras: A Gift That Keeps On Giving - Rich Yields Remain Attractive

Summary PBR remains a compelling investment due to its discounted valuations and rich forward dividend yields, outperforming many of its oil/ gas peers. While the moderating Brent oil spot prices and perceived risks tied to the state run status may pose headwinds, the rich dividend yields more than makes up for the risks. If anything, PBR has guided $200B in operating cash flow and substantial shareholder returns through 2029, with it further underscoring its viable dividend investment thesis. Despite the Fed normalization, the company is likely to outperform expectations while generating rich operating cash flows, attributed to its low break even point of $45 per barrel (inclusive capex). Read the full article on Seeking Alpha
Seeking Alpha • Oct 31

Petrobras Production Report Q3 2024: Oil Price Does Not Help And Neither Does Recent News

Summary Stable volume and falling Brent oil prices indicate a slight deterioration in Petrobras results. PBR plans increased investments in the fertilizer segment, which historically underperforms, justifying market distrust and discount. Extraordinary dividends are not ruled out, although I do not believe they should be announced. Read the full article on Seeking Alpha
Seeking Alpha • Oct 01

Petrobras: Double-Upgrade To Buy On New Exploration And Stable Management

Summary Petrobras' new strategic plan to reportedly focus more on the core exploration & production business, with fixed allocations to low carbon M&A cut out. PBR should be able to repeat its highly successful offshore playbook in the Atlantic Margin and potentially Namibia, with geology in both comparable to the pre-salt, in our view. Political risks remain, yet with new management looking the most stable since the 2022 election and their commitment to the new plan, we see most recent concerns derisked. With valuation having become more favorable relative to the wider sector, we double-raise shares to overweight and increase our price target by 15% to $20/sh (~36% upside). Read the full article on Seeking Alpha
Seeking Alpha • Sep 20

Petrobras: Very High Safety Margin

Summary Petrobras is a highly profitable Brazilian energy firm with a significant EBITDA size. The firm is also growing its production and has attractive capital return potential. Petrobras generates a high amount of free cash flow and offers dividend investors a healthy ~13% yield. Trading at a forward P/E ratio of 4.4X, Petrobras is undervalued, even when considering government control and currency devaluation risks. Petrobras is suitable for risk-tolerant income investors seeking high distributions and growth, but not for those needing predictable, safe retirement income. Read the full article on Seeking Alpha
Seeking Alpha • Aug 31

Petrobras: Focus On The Rich Yields & Discounted Valuations - Volatility Is Inevitable

Summary PBR remains a compelling Buy due to its rich forward dividend yields, outperforming its oil/ gas peers and the US Treasury Yields. If anything, the state-run status, the country's volatile political scene, and the numerous leadership changes have contributed to the stock's discounted prices/ valuations. As a result, investors should not shy away from PBR's volatility, since it is part and parcel of its investment thesis. While H2'24 may bring forth lower FCF generation, attributed to the lower Brent spot prices and higher capex, we remain convinced about its rich dividend payouts. This is significantly aided by the Fed's projected pivot and the higher for longer crude oil spot prices, despite the OPEC+ relaxation. Read the full article on Seeking Alpha
Seeking Alpha • Aug 22

Petrobras: Too Many CEO Transitions (Technical Analysis)

Summary Like many Petrobras bulls, I used to love it for the high yield and ~4x P/E. However, recent developments have shown me it is cheap for good reasons. The 4x P/E is not as attractive as on the surface, considering the frequency of its leadership shake-up and earning volatility. On the technical front, recent trading patterns show no definitive direction for its stock prices either. Read the full article on Seeking Alpha
Seeking Alpha • Jul 31

Petrobras Production Report Q2 2024: Be Careful, As Profits May Fall Sharply

Summary Production and sales report is released without major highlights. Possible investment in Namibia brings risks and bad memories of the past. Profit may be strongly impacted by non-recurring events. Read the full article on Seeking Alpha
Seeking Alpha • Jul 05

Why Petrobras Stock Deserves A Downgrade

Summary I believe Petrobras stock should be downgraded due to recent management news and other factors, despite some uncertainty already being priced in. Recent financial data shows declining profitability, margins, and top-line revenue for Petrobras. The weakening of the Brazilian real further exacerbates these issues and impacts local revenues, which account for 70% of the company's total turnover. Petrobras currently trades at 4.5 times next year's earnings, which is about 60% below the energy sector median figure. I downgrade Petrobras to "Hold" due to a high likelihood of missing EPS and revenue expectations in Q2. Read the full article on Seeking Alpha
Seeking Alpha • Jun 20

Petrobras: Focus On The 4X P/E Ratio, Not The 13% Yield (Rating Upgrade)

Summary Petrobras is a capital return play with solid growth potential. OPEC+ price support measures could boost longer-term petroleum prices, making Petrobras stock an attractive investment. Petrobras generated $6.5B in free cash flow in Q1 and continues to pay shareholders a healthy regular dividend. Shares are an absolute bargain with a P/E ratio of 4X, in the context of OPEC+'s supply curbs. Read the full article on Seeking Alpha
Seeking Alpha • May 28

Petrobras: It's Hard To Be Bullish Now

Summary For many months, Petrobras stock traded at a significant discount due to the substantial risk posed by its location in an opaque economic zone, despite its high-quality assets. Recent events (such as the firing of now-former CEO Jean Paul Prates about 2 weeks ago) have increased these risks further, in my opinion. I understand the bulls' argument that Petrobras stock looks cheap, as my comps valuation calculations show - the upside potential could be more than 50% if we disregard political risks. However, I see no reason to neglect these risks today. The discount to Petrobras' valuation is likely to remain the same or even widen. In light of these points, I think it's prudent to wait for lower prices for Petrobras stock or avoid it altogether, given the significantly increased risks. My rating is "Hold". Read the full article on Seeking Alpha
Seeking Alpha • May 15

Petrobras: Ignore The Noise, Rely On Fundamentals

Summary Petrobras' Q1 earnings missed estimates, causing a selloff, but I believe it is just noise as the company's profitability remains unparalleled, allowing to deleverage and keep shareholders happy. PBR is increasing CAPEX to build long-term value for shareholders and has improved its financial position. The company dominates Brazil's oil and gas sector and is poised for robust oil production in the coming years. The valuation is attractive with significant upside potential. Investors face substantial political risks, underscored by the information that the CEO was fired by Brazil's president, but the upside potential outweighs all the risks. Read the full article on Seeking Alpha
Seeking Alpha • May 05

The Petrobras Absurdity: Yield Exceeds P/E

Summary Petrobras stock currently has a 7% dividend yield and a low P/E ratio of 4x. Thus, PBR stock offers an attractive package combining value, current income, and international exposure. I disagree with the consensus estimates of its EPS growth, which are too pessimistic given the catalysts I am seeing. With its single-digit P/E ratio and the market’s pessimistic sentiment, any EPS growth has the potential to trigger an outsized price rally. Read the full article on Seeking Alpha
Seeking Alpha • Apr 15

Petrobras: Repeating Past Mistakes, I Don't Recommend Buying Shares

Summary Petrobras is the largest company in Latin America and is still reaping good results due to its old divestment strategy and focus on core business. However, the strategy changed completely. The new management's plans for increased investments and the abandonment of the international price parity policy raise skepticism about the company's long-term results. Despite attractive valuation and strong fundamentals, the uncertain actions of the new management and potential political interference pose risks to the investment thesis. Read the full article on Seeking Alpha
Seeking Alpha • Apr 02

Petrobras: The Sell-Off Provides Opportunity

Summary In recent weeks, Petrobras's momentum has weakened, and at the moment, it's trading 14% off-high after a wave of analyst downgrades followed dividend frustration. PBR delivered strong financial performance last year with the second-highest EBITDA ($52.4 billion), operational cash flow ($43.2 billion), and net profit ($24.9 billion) in history. The market is expecting a further correction in the company's financials, but this may be already reflected in its forwarding valuation multiples. Despite risks, I think Petrobras is still undervalued and presents a buying opportunity with double-digit percentage upside potential. Read the full article on Seeking Alpha

Shareholder Returns

PBRUS Oil and GasUS Market
7D4.5%4.9%-2.0%
1Y49.0%32.4%15.1%

Return vs Industry: PBR exceeded the US Oil and Gas industry which returned 32.4% over the past year.

Return vs Market: PBR exceeded the US Market which returned 15.1% over the past year.

Price Volatility

Is PBR's price volatile compared to industry and market?
PBR volatility
PBR Average Weekly Movement4.4%
Oil and Gas Industry Average Movement5.9%
Market Average Movement7.1%
10% most volatile stocks in US Market16.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: PBR has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: PBR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
195343,199Magda de Regina Chambriardpetrobras.com.br

Petróleo Brasileiro S.A. - Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.

Petróleo Brasileiro S.A. - Petrobras Fundamentals Summary

How do Petróleo Brasileiro - Petrobras's earnings and revenue compare to its market cap?
PBR fundamental statistics
Market capUS$117.76b
Earnings (TTM)US$21.24b
Revenue (TTM)US$98.36b
5.1x
P/E Ratio
1.1x
P/S Ratio

Is PBR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PBR income statement (TTM)
RevenueR$498.09b
Cost of RevenueR$262.20b
Gross ProfitR$235.89b
Other ExpensesR$128.31b
EarningsR$107.58b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Aug 06, 2026

Earnings per share (EPS)8.35
Gross Margin47.36%
Net Profit Margin21.60%
Debt/Equity Ratio32.2%

How did PBR perform over the long term?

See historical performance and comparison

Dividends

7.4%
Current Dividend Yield
36%
Payout Ratio

Does PBR pay a reliable dividends?

See PBR dividend history and benchmarks
When do you need to buy PBR by to receive an upcoming dividend?
Petróleo Brasileiro - Petrobras dividend dates
Ex Dividend DateJun 03 2026
Dividend Pay DateAug 27 2026
Days until Ex dividend52 days
Days until Dividend pay date33 days

Does PBR pay a reliable dividends?

See PBR dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/24 21:49
End of Day Share Price 2026/07/24 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Petróleo Brasileiro S.A. - Petrobras is covered by 35 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yim ChengBarclays
Daniel CobucciBB Banco de Investimento S.A.
Randy OllenbergerBMO Capital Markets Equity Research