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Brazilian (BOVESPA) Energy Sector Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies7
  • 7D1.7%
  • 3M60.9%
  • 1Y55.5%
  • YTD59.1%

The Energy industry is up 1.7% in the last week, with Brava Energia up 6.4%. This means that the industry has gained 55% over the past year. In the next few years, earnings are forecast to decline by 1.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026R$738.6bR$536.6bR$112.8b6.9x6.5x1.4x
Tue, 10 Mar 2026R$643.1bR$534.9bR$120.1b5.6x5.4x1.2x
Thu, 05 Feb 2026R$555.5bR$528.8bR$87.5b5.7x6.3x1.1x
Sat, 03 Jan 2026R$455.3bR$528.8bR$87.5b5.2x5.2x0.9x
Mon, 01 Dec 2025R$461.5bR$528.8bR$87.5b5.2x5.3x0.9x
Wed, 29 Oct 2025R$442.0bR$495.0bR$80.7b4.9x5.5x0.9x
Fri, 26 Sep 2025R$517.2bR$677.1bR$71.7b5.8x7.2x0.8x
Sun, 24 Aug 2025R$485.1bR$710.4bR$79.7b5.7x6.1x0.7x
Tue, 22 Jul 2025R$495.8bR$712.7bR$49.7b7.5x10x0.7x
Thu, 19 Jun 2025R$529.0bR$712.7bR$49.7b8.2x10.6x0.7x
Sat, 17 May 2025R$507.0bR$712.1bR$50.0b8.3x10.1x0.7x
Mon, 14 Apr 2025R$497.8bR$701.7bR$38.0b8.4x13.1x0.7x
Wed, 12 Mar 2025R$531.6bR$698.0bR$46.2b7x11.5x0.8x
Fri, 07 Feb 2025R$579.9bR$709.0bR$94.5b6.8x6.1x0.8x
Sun, 05 Jan 2025R$580.3bR$709.0bR$94.5b6.8x6.1x0.8x
Tue, 03 Dec 2024R$615.4bR$709.0bR$94.5b7.4x6.5x0.9x
Thu, 31 Oct 2024R$576.6bR$699.9bR$89.2b7.1x6.5x0.8x
Sat, 28 Sep 2024R$588.6bR$699.9bR$89.2b7.3x6.6x0.8x
Mon, 26 Aug 2024R$604.5bR$699.9bR$89.2b8x6.8x0.9x
Wed, 24 Jul 2024R$611.4bR$685.4bR$119.5b9.6x5.1x0.9x
Fri, 21 Jun 2024R$575.6bR$685.4bR$119.5b8.9x4.8x0.8x
Sun, 19 May 2024R$602.3bR$685.1bR$118.9b10.1x5.1x0.9x
Tue, 16 Apr 2024R$671.6bR$926.0bR$137.6b8.4x4.9x0.7x
Thu, 14 Mar 2024R$639.9bR$927.2bR$136.0b9.1x4.7x0.7x
Sat, 10 Feb 2024R$709.1bR$952.8bR$146.7b7.8x4.8x0.7x
Mon, 08 Jan 2024R$680.6bR$953.1bR$146.7b8.5x4.6x0.7x
Wed, 06 Dec 2023R$619.3bR$953.2bR$147.0b7.9x4.2x0.6x
Fri, 03 Nov 2023R$627.0bR$1.0tR$165.7b11x3.8x0.6x
Sun, 01 Oct 2023R$619.4bR$1.0tR$164.8b11.9x3.8x0.6x
Tue, 29 Aug 2023R$591.0bR$1.0tR$163.9b10.8x3.6x0.6x
Thu, 27 Jul 2023R$591.2bR$1.1tR$190.4b9x3.1x0.5x
Sat, 24 Jun 2023R$584.0bR$1.1tR$190.4b7.8x3.1x0.5x
Mon, 22 May 2023R$498.0bR$1.1tR$190.4b7.3x2.6x0.5x
Wed, 19 Apr 2023R$506.0bR$1.1tR$195.4b8.7x2.6x0.5x
Price to Earnings Ratio

2.6x


Total Market Cap: R$506.0bTotal Earnings: R$195.4bTotal Revenue: R$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Energy Sector Price to Earnings3Y Average 6.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian Energy industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 6.1x.
  • The 3-year average PS ratio of 0.77x is lower than the industry's current PS ratio of 1.4x.
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 Market4.38%
Energy1.74%
Oil and Gas1.74%
Energy Services-6.90%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry, which is trading close to its 3-year average PE ratio of 6.1x.
    • Analysts are expecting annual earnings decline of 1.9%, which is lower than the prior year's growth of 45.9% per year.
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 1.9% 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 46% 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
BRAV3 Brava EnergiaR$21.776.4%
+R$603.9m		26.1%PE7.2x
RECV3 PetroreconcavoR$14.304.4%
+R$175.8m		5.8%PE6.6x
RPMG3 Refinaria de Petróleos de ManguinhosR$2.264.6%
+R$6.8m		-17.8%PS0.02x

Latest News

OSXB3
R$1.45
OSX Brasil
7D
-10.5%
1Y
-51.2%
BRAV3
R$21.77
Brava Energia
7D
6.4%
1Y
26.1%

BRAV3: Lower Discount Rate And Higher P/E Will Support Future Upside

Analysts have maintained their R$30.00 price target for Brava Energia. The updated view reflects revised assumptions that include higher projected revenue growth, a lower discount rate and a higher future P/E multiple, partly offset by a lower profit margin outlook.
PRIO3
R$67.65
Prio
7D
-0.2%
1Y
97.1%

PRIO3: Future Returns Will Depend On Resilience To Sectorwide Multiple Compression

Analysts have maintained their R$51.00 fair value for Prio while adjusting assumptions, including a lower discount rate, revised revenue growth and profit margin expectations, and a different forward P/E. These changes result in a recalibrated valuation framework, but the overall price target view remains steady.
AZTE3
R$0.41
Azevedo & Travassos Energia
7D
-19.6%
1Y
-54.9%
RPMG3
R$2.26
Refinaria de Petróleos de Manguinhos
7D
4.6%
1Y
-17.8%
RECV3
R$14.30
Petroreconcavo
7D
4.4%
1Y
5.8%

RECV3: Reset Assumptions Suggest Future Returns Will Track Fair Value

Analysts have cut their Petroreconcavo price target from about R$14.23 to roughly R$13.30 as they reset assumptions around revenue growth, profit margins and future P/E, while keeping the discount rate broadly in line with previous estimates. Valuation Changes Fair Value: R$14.23 to R$13.30, a modest reduction in the central valuation estimate.
LUPA3
R$0.81
Lupatech
7D
-6.9%
1Y
-35.7%