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Brazilian (BOVESPA) Energy Sector Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies7
  • 7D5.8%
  • 3M23.5%
  • 1Y6.2%
  • YTD28.4%

In the last week, the Energy industry is up 5.8%, with Brava Energia leading the way, up 2.9%. This takes the industry's 12 month performance to a gain of 6.2%. In the next few years earnings are forecast to be pretty stable.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026R$588.8bR$528.8bR$87.5b6.1x6.7x1.1x
Sun, 25 Jan 2026R$521.7bR$528.8bR$87.5b5.5x6x1x
Tue, 23 Dec 2025R$453.7bR$528.8bR$87.5b5.2x5.2x0.9x
Thu, 20 Nov 2025R$482.6bR$528.8bR$87.5b5.3x5.5x0.9x
Sat, 18 Oct 2025R$437.7bR$499.0bR$81.3b5x5.4x0.9x
Mon, 15 Sep 2025R$500.5bR$676.2bR$71.6b5.8x7x0.7x
Wed, 13 Aug 2025R$488.6bR$708.9bR$79.8b5.8x6.1x0.7x
Fri, 11 Jul 2025R$516.2bR$712.7bR$49.7b8.3x10.4x0.7x
Sun, 08 Jun 2025R$477.2bR$712.7bR$49.7b7.7x9.6x0.7x
Tue, 06 May 2025R$472.3bR$701.7bR$38.0b8.2x12.4x0.7x
Thu, 03 Apr 2025R$587.6bR$701.7bR$38.0b9.6x15.5x0.8x
Sat, 01 Mar 2025R$569.5bR$698.0bR$46.2b7.6x12.3x0.8x
Mon, 27 Jan 2025R$583.4bR$709.0bR$94.5b6.7x6.2x0.8x
Wed, 25 Dec 2024R$578.6bR$709.0bR$94.5b6.8x6.1x0.8x
Fri, 22 Nov 2024R$598.6bR$709.0bR$94.5b7.5x6.3x0.8x
Sun, 20 Oct 2024R$594.0bR$699.9bR$89.2b7.1x6.7x0.8x
Tue, 17 Sep 2024R$606.9bR$699.9bR$89.2b7.6x6.8x0.9x
Thu, 15 Aug 2024R$623.4bR$699.2bR$88.4b8.2x7.1x0.9x
Sat, 13 Jul 2024R$621.2bR$685.4bR$119.5b9.7x5.2x0.9x
Mon, 10 Jun 2024R$588.0bR$685.3bR$119.6b9.1x4.9x0.9x
Wed, 08 May 2024R$662.9bR$704.6bR$133.7b10.4x5x0.9x
Fri, 05 Apr 2024R$658.1bR$926.0bR$137.6b8.9x4.8x0.7x
Sun, 03 Mar 2024R$688.9bR$948.4bR$147.6b8.2x4.7x0.7x
Tue, 30 Jan 2024R$697.6bR$953.1bR$146.7b8.2x4.8x0.7x
Thu, 28 Dec 2023R$664.3bR$953.1bR$146.7b8.4x4.5x0.7x
Sat, 25 Nov 2023R$634.9bR$953.2bR$147.0b8.7x4.3x0.7x
Mon, 23 Oct 2023R$664.3bR$1.0tR$164.8b11.8x4x0.7x
Wed, 20 Sep 2023R$625.5bR$1.0tR$164.8b12x3.8x0.6x
Fri, 18 Aug 2023R$578.2bR$1.0tR$163.9b10.1x3.5x0.6x
Sun, 16 Jul 2023R$557.2bR$1.1tR$190.4b8.1x2.9x0.5x
Tue, 13 Jun 2023R$560.7bR$1.1tR$190.4b7.1x2.9x0.5x
Thu, 11 May 2023R$468.4bR$1.1tR$195.9b8.7x2.4x0.4x
Sat, 08 Apr 2023R$453.8bR$1.1tR$195.3b9.6x2.3x0.4x
Mon, 06 Mar 2023R$479.7bR$1.0tR$183.2b9.9x2.6x0.5x
Price to Earnings Ratio

2.6x


Total Market Cap: R$479.7bTotal Earnings: R$183.2bTotal Revenue: R$1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Energy Sector Price to Earnings3Y Average 5.9x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 6.7x which is higher than its 3-year average PE of 5.9x.
  • The 3-year average PS ratio of 0.74x 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 22% per year over the last three years,
  • Revenues have also declined 20% 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 Market2.29%
Energy5.83%
Oil and Gas5.83%
Energy Services2.56%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 5.9x.
    • Analysts are expecting annual earnings growth of 0.9%, which is lower than the prior year's growth of 46.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas industry, expecting annual earnings growth of 0.9% over the next 5 years.
  • 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
RECV3 PetroreconcavoR$12.267.8%
+R$260.8m		-25.0%PE5.8x
AZTE3 Azevedo & Travassos EnergiaR$0.283.7%
+R$3.4m		-81.9%PS30.9x
LUPA3 LupatechR$1.223.4%
+R$1.9m		-1.6%PS0.8x

Latest News

BRAV3
R$18.57
Brava Energia
7D
-0.9%
1Y
-0.7%

BRAV3: Stable Cash Flow Assumptions And Margin Profile Will Support Upside

Analysts have kept their R$22.25 price target on Brava Energia broadly unchanged, reflecting only minor tweaks to discount rate, revenue growth and profit margin assumptions, as well as a slightly adjusted future P/E of 7.33x. Valuation Changes Fair Value: R$22.25 remains unchanged, with no adjustment to the headline valuation figure.
PRIO3
R$52.34
Prio
7D
-4.7%
1Y
37.0%

PRIO3: Index Addition And Refined Assumptions Will Shape Future Repricing Potential

Analysts have lifted their price target for Prio by about R$2, citing updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E multiples. Analyst Commentary Bullish Takeaways Bullish analysts point to the refreshed fair value work as support for a higher price target, arguing that updated revenue and margin assumptions still leave what they see as a valuation gap relative to their internal estimates.
RECV3
R$12.26
Petroreconcavo
7D
7.8%
1Y
-25.0%

RECV3: Softer Revenue Outlook Will Lead To Compressed Earnings Multiple

Analysts have reduced their price target for Petroreconcavo from R$12.30 to R$9.50, citing slightly softer revenue expectations, a marginally lower profit margin outlook, and a recalibrated future P/E multiple around 9.75x as key drivers of the change. Valuation Changes Fair Value: reduced from R$12.30 to R$9.50, reflecting a lower implied equity value per share.
RPMG3
R$2.26
Refinaria de Petróleos de Manguinhos
7D
-0.9%
1Y
-21.8%
LUPA3
R$1.22
Lupatech
7D
3.4%
1Y
-1.6%

Some Shareholders Feeling Restless Over Lupatech S.A.'s (BVMF:LUPA3) P/S Ratio

Dec 30
Some Shareholders Feeling Restless Over Lupatech S.A.'s (BVMF:LUPA3) P/S Ratio
OSXB3
R$1.80
OSX Brasil
7D
-2.2%
1Y
-46.1%
AZTE3
R$0.28
Azevedo & Travassos Energia
7D
3.7%
1Y
-81.9%