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Brazilian (BOVESPA) Energy Sector Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies7
  • 7D-1.1%
  • 3M1.3%
  • 1Y-17.4%
  • YTD-1.1%

Over the last 7 days, the Energy industry has dropped 1.1%, driven by a pullback from Petroreconcavo of 7.2%. Overall the industry is down 17% in 12 months. As for the next few years, earnings are expected to grow by 2.8% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026R$447.1bR$528.8bR$87.5b4.9x5.1x0.8x
Tue, 09 Dec 2025R$456.8bR$528.8bR$87.5b5.2x5.2x0.9x
Thu, 06 Nov 2025R$444.5bR$494.8bR$80.7b5.1x5.5x0.9x
Sat, 04 Oct 2025R$458.2bR$493.0bR$80.4b5.4x5.7x0.9x
Mon, 01 Sep 2025R$496.7bR$682.1bR$72.5b5.8x6.9x0.7x
Wed, 30 Jul 2025R$518.6bR$712.7bR$49.7b8.1x10.4x0.7x
Fri, 27 Jun 2025R$504.0bR$712.7bR$49.7b8x10.1x0.7x
Sun, 25 May 2025R$497.6bR$712.7bR$49.7b7.9x10x0.7x
Tue, 22 Apr 2025R$488.3bR$701.7bR$38.0b8.7x12.8x0.7x
Thu, 20 Mar 2025R$570.6bR$700.3bR$39.7b8x14.4x0.8x
Sat, 15 Feb 2025R$569.6bR$709.0bR$94.5b6.7x6x0.8x
Mon, 13 Jan 2025R$590.0bR$705.9bR$93.9b6.7x6.3x0.8x
Wed, 11 Dec 2024R$624.4bR$709.0bR$94.5b7.6x6.6x0.9x
Fri, 08 Nov 2024R$569.9bR$699.5bR$88.4b7.4x6.4x0.8x
Sun, 06 Oct 2024R$613.0bR$699.9bR$89.2b7.4x6.9x0.9x
Tue, 03 Sep 2024R$637.4bR$699.9bR$89.2b7.8x7.1x0.9x
Thu, 01 Aug 2024R$614.6bR$687.3bR$118.8b8.6x5.2x0.9x
Sat, 29 Jun 2024R$612.0bR$685.4bR$119.5b8.9x5.1x0.9x
Mon, 27 May 2024R$106.8bR$194.4bR$8.9b10x12.1x0.5x
Wed, 24 Apr 2024R$701.5bR$926.0bR$137.6b8.3x5.1x0.8x
Fri, 22 Mar 2024R$627.8bR$927.2bR$136.0b9.1x4.6x0.7x
Sun, 18 Feb 2024R$733.6bR$950.9bR$147.3b8.3x5x0.8x
Tue, 16 Jan 2024R$680.2bR$953.1bR$146.7b8.6x4.6x0.7x
Thu, 14 Dec 2023R$607.1bR$953.1bR$146.7b8.3x4.1x0.6x
Sat, 11 Nov 2023R$627.5bR$378.3tR$93.6t10.1x0.007x0.002x
Mon, 09 Oct 2023R$598.1bR$1.0tR$164.8b11x3.6x0.6x
Wed, 06 Sep 2023R$612.2bR$1.0tR$164.8b11.3x3.7x0.6x
Fri, 04 Aug 2023R$581.8bR$1.1tR$190.6b8.8x3.1x0.5x
Sun, 02 Jul 2023R$559.0bR$1.1tR$190.4b7.5x2.9x0.5x
Tue, 30 May 2023R$500.8bR$1.1tR$190.4b7x2.6x0.5x
Thu, 27 Apr 2023R$488.8bR$1.1tR$195.4b8.3x2.5x0.4x
Sat, 25 Mar 2023R$422.4bR$1.1tR$195.3b8.5x2.2x0.4x
Mon, 20 Feb 2023R$498.1bR$1.0tR$183.9b10.1x2.7x0.5x
Wed, 18 Jan 2023R$495.5bR$1.0tR$184.6b12.9x2.7x0.5x
Price to Earnings Ratio

2.7x


Total Market Cap: R$495.5bTotal Earnings: R$184.6bTotal Revenue: R$1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Energy Sector Price to Earnings3Y Average 5.8x202420252026
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 5.1x which is lower than its 3-year average PE of 5.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.72x.
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 Market1.29%
Energy-1.10%
Oil and Gas-1.10%
Energy Services-3.23%
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 5.8x.
    • Analysts are expecting annual earnings growth of 2.8%, 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 2.8% over the next 5 years.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 2.8% per year 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$42.682.2%
+R$723.7m		0.1%PE3.3x
AZTE3 Azevedo & Travassos EnergiaR$0.432.4%
+R$3.4m		n/an/a

Latest News

BRAV3
R$16.66
Brava Energia
7D
-0.06%
1Y
-33.1%

BRAV3: New CFO Appointment Will Support Higher Profitability Expectations

Analysts now place Brava Energia's fair value at $30.00, reduced from $34.26, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News The Board of Directors confirmed the election of Mr. Luiz Carvalho as Chief Financial Officer of Brava Energia S.A. at a meeting held on November 14, 2025 (Key Developments).
PRIO3
R$42.68
Prio
7D
2.2%
1Y
0.1%

PRIO3: Higher Margin Focus And Index Inclusion Will Support Future Repricing

Narrative Update Analysts trimmed their price target on Prio from about $55.84 to $54.11, reflecting updated assumptions that pair moderate revenue expectations with higher profit margins and a slightly lower future P/E multiple. Analyst Commentary Analysts updating their models on financials and insurers have been revisiting assumptions on revenue durability, margin resilience, and appropriate P/E levels.
RECV3
R$10.22
Petroreconcavo
7D
-7.2%
1Y
-37.5%

RECV3 Will Offer Stronger Profit Margins Despite Softer Revenue Outlook

Analysts have trimmed their price target for Petroreconcavo from R$14.50 to R$12.30, reflecting more cautious revenue growth assumptions, even as they acknowledge slightly better profit margin expectations and a lower implied future P E multiple. Valuation Changes Fair Value: reduced from R$14.50 to R$12.30, a noticeable downward revision in the target valuation.
RPMG3
R$2.08
Refinaria de Petróleos de Manguinhos
7D
-0.5%
1Y
-23.5%
LUPA3
R$0.90
Lupatech
7D
-3.2%
1Y
-28.6%

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$1.90
OSX Brasil
7D
-9.1%
1Y
-49.2%
AZTE3
R$0.43
Azevedo & Travassos Energia
7D
2.4%
1Y
n/a