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Brazilian (BOVESPA) Energy Sector Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies6
  • 7D3.8%
  • 3M-19.0%
  • 1Y21.3%
  • YTD28.8%

Over the last 7 days, the Energy industry has risen 3.8%, driven by gains from Prio of 4.7%. Meanwhile, Azevedo & Travassos Energia actually underperformed within the industry, shrinking 34% in the last week. This means that the industry has gained 21% over the past year. Earnings are forecast to be flat in the coming years.

Sector Valuation and Performance

Has the Brazilian Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Jul 2026R$601.5bR$539.3bR$109.3b11.4x5.5x1.1x
Wed, 10 Jun 2026R$630.6bR$539.3bR$109.2b12.6x5.8x1.2x
Fri, 08 May 2026R$707.4bR$538.7bR$113.0b5.9x6.3x1.3x
Sun, 05 Apr 2026R$726.4bR$536.6bR$112.8b6.5x6.4x1.4x
Tue, 03 Mar 2026R$587.7bR$528.8bR$87.5b6.2x6.7x1.1x
Thu, 29 Jan 2026R$537.0bR$528.8bR$87.5b5.8x6.1x1x
Sat, 27 Dec 2025R$447.0bR$528.8bR$87.5b5.2x5.1x0.8x
Mon, 24 Nov 2025R$476.1bR$528.8bR$87.5b5.3x5.4x0.9x
Wed, 22 Oct 2025R$432.2bR$497.6bR$81.1b4.8x5.3x0.9x
Fri, 19 Sep 2025R$507.4bR$673.2bR$71.1b5.9x7.1x0.8x
Sun, 17 Aug 2025R$480.8bR$710.4bR$79.7b5.7x6x0.7x
Tue, 15 Jul 2025R$514.2bR$712.7bR$49.7b7.9x10.3x0.7x
Thu, 12 Jun 2025R$500.5bR$712.7bR$49.7b8.1x10.1x0.7x
Sat, 10 May 2025R$491.5bR$706.0bR$39.1b7.6x12.6x0.7x
Mon, 07 Apr 2025R$541.8bR$701.7bR$38.0b8.7x14.2x0.8x
Wed, 05 Mar 2025R$563.1bR$698.0bR$46.2b7.6x12.2x0.8x
Fri, 31 Jan 2025R$583.7bR$709.0bR$94.5b7.1x6.2x0.8x
Sun, 29 Dec 2024R$564.4bR$709.0bR$94.5b6.8x6x0.8x
Tue, 26 Nov 2024R$625.1bR$709.0bR$94.5b7.7x6.6x0.9x
Thu, 24 Oct 2024R$582.0bR$699.9bR$89.2b6.9x6.5x0.8x
Sat, 21 Sep 2024R$590.5bR$699.9bR$89.2b7.4x6.6x0.8x
Mon, 19 Aug 2024R$630.8bR$699.9bR$89.2b8.3x7.1x0.9x
Wed, 17 Jul 2024R$625.2bR$685.4bR$119.5b9.7x5.2x0.9x
Fri, 14 Jun 2024R$568.6bR$685.3bR$119.6b8.9x4.8x0.8x
Sun, 12 May 2024R$670.2bR$706.4bR$133.4b10.2x5x0.9x
Tue, 09 Apr 2024R$666.2bR$926.0bR$137.6b8.7x4.8x0.7x
Thu, 07 Mar 2024R$682.9bR$948.4bR$147.6b8.1x4.6x0.7x
Sat, 03 Feb 2024R$700.9bR$953.1bR$146.7b7.8x4.8x0.7x
Mon, 01 Jan 2024R$662.0bR$953.1bR$146.7b8.4x4.5x0.7x
Wed, 29 Nov 2023R$627.5bR$953.2bR$147.0b8.5x4.3x0.7x
Fri, 27 Oct 2023R$638.8bR$1.0tR$164.8b12.1x3.9x0.6x
Sun, 24 Sep 2023R$618.0bR$1.0tR$164.8b11.7x3.7x0.6x
Tue, 22 Aug 2023R$580.8bR$1.0tR$163.9b10.1x3.5x0.6x
Thu, 20 Jul 2023R$560.2bR$1.1tR$190.4b8.5x2.9x0.5x
Price to Earnings Ratio

2.9x


Total Market Cap: R$560.2bTotal Earnings: R$190.4bTotal Revenue: R$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Energy Sector Price to Earnings3Y Average 6.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Brazilian Energy industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 5.5x which is lower than its 3-year average PE of 6.3x.
  • The 3-year average PS ratio of 0.83x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 17% per year over the last three years,
  • Revenues have also declined 21% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Brazilian Energy sector?

BR Market2.17%
Energy3.77%
Oil and Gas3.77%
Energy Services0%0
Industry PE
  • Investors are most optimistic about the Oil and Gas industry even though it's trading below its 3-year average PE ratio of 6.3x.
    • Analysts are expecting annual earnings decline of 0.06%, which is lower than the prior year's growth of 23.1% per year.
  • Investors are most pessimistic about the Oil and Gas industry, which is trading below its 3-year average of 6.3x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Oil and Gas industry since they expect its earnings to decline by only 0.06% per year over the next 5 years, which isn't as bad as the other industries.
  • This is a reversal from its past annual earnings growth rate of 23% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PRIO3 PrioR$55.454.7%
+R$2.0b		29.8%PE17.3x
BRAV3 Brava EnergiaR$18.945.8%
+R$478.5m		6.5%PE37.9x
RECV3 PetroreconcavoR$10.226.0%
+R$169.9m		-29.4%PE5.6x
LUPA3 LupatechR$0.706.1%
+R$1.9m		-41.2%PS0.9x

Latest News

AZTE3
R$1.13
Azevedo & Travassos Energia
7D
-33.5%
1Y
-83.6%
PRIO3
R$55.45
Prio
7D
4.7%
1Y
29.8%
Narrative Update • Jul 07

PRIO3: Future Returns Will Hinge On Delivering Against Elevated Sector Assumptions

Analysts have lifted Prio's fair value estimate from R$51.00 to about R$54.59, reflecting updated assumptions around discount rate, revenue growth, margins and future P/E that align with the more constructive tone seen in recent sector price target revisions. Analyst Commentary While the higher fair value estimate signals a somewhat more constructive stance on Prio, not every part of the market is universally positive.
BRAV3
R$18.94
Brava Energia
7D
5.8%
1Y
6.5%
Narrative Update • Jun 24

BRAV3: Ecopetrol Control Bid And Mixed Ratings Will Unlock Future Upside Potential

The analyst price target for Brava Energia has been revised from R$32.05 to R$27.00, as analysts incorporate updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E into their models, following recent mixed rating actions from major banks. Analyst Commentary Recent research on Brava Energia shows mixed opinions, with some firms turning more cautious while others highlight potential upside based on valuation and execution.
LUPA3
R$0.70
Lupatech
7D
6.1%
1Y
-41.2%
RECV3
R$10.22
Petroreconcavo
7D
6.0%
1Y
-29.4%
Narrative Update • Jun 16

RECV3: Earnings Quality And Lower P/E Will Support Future Upside

Analysts have adjusted their price target for Petroreconcavo from R$17.00 to R$16.50, reflecting updated views on revenue growth assumptions, slightly lower profit margin expectations, and a modestly reduced future P/E multiple. What's in the News Analysts revised Petroreconcavo's price target to R$16.50 from R$17.00, reflecting updated assumptions on revenue, margins, and future P/E multiple.
RPMG3
R$1.15
Refinaria de Petróleos de Manguinhos
7D
-4.2%
1Y
-60.3%