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PETR

Petróleo Brasileiro - Petrobras BOVESPA:PETR4 Stock Report

Last Price

R$29.54

Market Cap

R$407.9b

7D

-5.5%

1Y

8.8%

Updated

26 Sep, 2022

Data

Company Financials +
PETR4 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health5/6
Dividends4/6

PETR4 Stock Overview

Petróleo Brasileiro S.A. - Petrobras explores for, produces, and sells oil and gas in Brazil and internationally.

Petróleo Brasileiro - Petrobras Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Petróleo Brasileiro - Petrobras
Historical stock prices
Current Share PriceR$29.54
52 Week HighR$37.86
52 Week LowR$25.72
Beta1.37
1 Month Change-12.19%
3 Month Change4.27%
1 Year Change8.84%
3 Year Change7.22%
5 Year Change91.82%
Change since IPO39,386,566.67%

Recent News & Updates

Shareholder Returns

PETR4BR Oil and GasBR Market
7D-5.5%-5.4%-2.2%
1Y8.8%-1.1%-15.7%

Return vs Industry: PETR4 exceeded the BR Oil and Gas industry which returned 1.7% over the past year.

Return vs Market: PETR4 exceeded the BR Market which returned -13.6% over the past year.

Price Volatility

Is PETR4's price volatile compared to industry and market?
PETR4 volatility
PETR4 Average Weekly Movement6.4%
Oil and Gas Industry Average Movement6.2%
Market Average Movement5.7%
10% most volatile stocks in BR Market9.5%
10% least volatile stocks in BR Market2.7%

Stable Share Price: PETR4 is not significantly more volatile than the rest of BR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PETR4's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
195345,532Caio Mario Paes Andradehttps://petrobras.com.br

Petróleo Brasileiro S.A. - Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

Petróleo Brasileiro - Petrobras Fundamentals Summary

How do Petróleo Brasileiro - Petrobras's earnings and revenue compare to its market cap?
PETR4 fundamental statistics
Market CapR$407.95b
Earnings (TTM)R$161.54b
Revenue (TTM)R$568.39b

2.4x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PETR4 income statement (TTM)
RevenueR$568.39b
Cost of RevenueR$279.16b
Gross ProfitR$289.23b
Other ExpensesR$127.69b
EarningsR$161.54b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 03, 2022

Earnings per share (EPS)12.38
Gross Margin50.89%
Net Profit Margin28.42%
Debt/Equity Ratio39.4%

How did PETR4 perform over the long term?

See historical performance and comparison

Dividends

43.5%

Current Dividend Yield

104%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is PETR4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PETR4?

Other financial metrics that can be useful for relative valuation.

PETR4 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1x
Enterprise Value/EBITDA2x
PEG Ratio-0.09x

Price to Earnings Ratio vs Peers

How does PETR4's PE Ratio compare to its peers?

PETR4 PE Ratio vs Peers
The above table shows the PE ratio for PETR4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.6x
RAIZ4 Raízen
15.2x31.8%R$44.3b
CSAN3 Cosan
6.7x1.8%R$33.1b
EQNR Equinor
6.4x-26.3%kr1.1t
GAZP Gazprom
2.2xn/a₽4.7t
PETR4 Petróleo Brasileiro - Petrobras
2.4x-26.4%R$407.9b

Price-To-Earnings vs Peers: PETR4 is good value based on its Price-To-Earnings Ratio (2.4x) compared to the peer average (7.6x).


Price to Earnings Ratio vs Industry

How does PETR4's PE Ratio compare vs other companies in the Global Oil and Gas Industry?

Price-To-Earnings vs Industry: PETR4 is good value based on its Price-To-Earnings Ratio (2.4x) compared to the Global Oil and Gas industry average (7.5x)


Price to Earnings Ratio vs Fair Ratio

What is PETR4's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PETR4 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.4x
Fair PE Ratio6.8x

Price-To-Earnings vs Fair Ratio: PETR4 is good value based on its Price-To-Earnings Ratio (2.4x) compared to the estimated Fair Price-To-Earnings Ratio (6.8x).


Share Price vs Fair Value

What is the Fair Price of PETR4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PETR4 (R$29.54) is trading below our estimate of fair value (R$42.1)

Significantly Below Fair Value: PETR4 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Petróleo Brasileiro - Petrobras forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-26.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PETR4's earnings are forecast to decline over the next 3 years (-26.4% per year).

Earnings vs Market: PETR4's earnings are forecast to decline over the next 3 years (-26.4% per year).

High Growth Earnings: PETR4's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PETR4's revenue is expected to decline over the next 3 years (-15.2% per year).

High Growth Revenue: PETR4's revenue is forecast to decline over the next 3 years (-15.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PETR4's Return on Equity is forecast to be high in 3 years time (20%)


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Past Performance

How has Petróleo Brasileiro - Petrobras performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


55.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PETR4 has high quality earnings.

Growing Profit Margin: PETR4's current net profit margins (28.4%) are lower than last year (28.8%).


Past Earnings Growth Analysis

Earnings Trend: PETR4 has become profitable over the past 5 years, growing earnings by 55.5% per year.

Accelerating Growth: PETR4's earnings growth over the past year (57.8%) exceeds its 5-year average (55.5% per year).

Earnings vs Industry: PETR4 earnings growth over the past year (57.8%) underperformed the Oil and Gas industry 57.8%.


Return on Equity

High ROE: PETR4's Return on Equity (39.3%) is considered high.


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Financial Health

How is Petróleo Brasileiro - Petrobras's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PETR4's short term assets (R$224.8B) exceed its short term liabilities (R$171.2B).

Long Term Liabilities: PETR4's short term assets (R$224.8B) do not cover its long term liabilities (R$420.7B).


Debt to Equity History and Analysis

Debt Level: PETR4's net debt to equity ratio (15.1%) is considered satisfactory.

Reducing Debt: PETR4's debt to equity ratio has reduced from 143.8% to 39.4% over the past 5 years.

Debt Coverage: PETR4's debt is well covered by operating cash flow (142.1%).

Interest Coverage: PETR4's interest payments on its debt are well covered by EBIT (26.8x coverage).


Balance Sheet


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Dividend

What is Petróleo Brasileiro - Petrobras's current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


43.48%

Current Dividend Yield

Dividend Yield vs Market

Petróleo Brasileiro - Petrobras Dividend Yield vs Market
How does Petróleo Brasileiro - Petrobras dividend yield compare to the market?
SegmentDividend Yield
Company (Petróleo Brasileiro - Petrobras)43.5%
Market Bottom 25% (BR)1.5%
Market Top 25% (BR)6.8%
Industry Average (Oil and Gas)38.7%
Analyst forecast in 3 Years (Petróleo Brasileiro - Petrobras)42.6%

Notable Dividend: PETR4's dividend (43.48%) is higher than the bottom 25% of dividend payers in the BR market (1.5%).

High Dividend: PETR4's dividend (43.48%) is in the top 25% of dividend payers in the BR market (6.77%)


Stability and Growth of Payments

Stable Dividend: PETR4's dividend payments have been volatile in the past 10 years.

Growing Dividend: PETR4's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (103.7%), PETR4's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (86.7%), PETR4's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Caio Mario Paes Andrade (61 yo)

0.25yr

Tenure

Mr. Caio Mario Paes de Andrade is Non-Independent Director, President and Chief Executive Officer of Petróleo Brasileiro S.A. - Petrobras from June 27, 2022 and serves as its Member of Executive Board sinc...


Leadership Team

Experienced Management: PETR4's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: PETR4's board of directors are not considered experienced ( 0.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of PETR4?
Owner TypeNumber of SharesOwnership Percentage
VC/PE Firms1,035,458,7547.9%
General Public3,523,440,84327.0%
State or Government3,740,470,81128.7%
Institutions4,744,830,85336.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 61.74% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
28.68%
Brazil
3,740,470,811R$110.5b0%no data
7.94%
BNDES Participações S.A. - BNDESPAR
1,035,458,754R$30.6b0%47.61%
4.45%
GQG Partners LLC
580,579,637R$17.2b1.89%5.4%
4.24%
BlackRock, Inc.
553,215,787R$16.3b0.46%0.08%
2.8%
The Vanguard Group, Inc.
364,918,801R$10.8b0.68%0.05%
2.29%
Capital Research and Management Company
299,259,141R$8.8b-22.27%0.12%
1.14%
Baillie Gifford & Co.
148,168,277R$4.4b0%0.47%
1.1%
Arrowstreet Capital, Limited Partnership
143,618,948R$4.2b2.18%1.28%
1.02%
BTG Pactual, Asset Management Arm
132,888,916R$3.9b0%28.89%
0.96%
Norges Bank Investment Management
125,500,680R$3.7b0%0.11%
0.92%
Dimensional Fund Advisors LP
120,252,808R$3.6b0.65%0.18%
0.91%
FMR LLC
118,743,639R$3.5b-0.14%0.06%
0.61%
Caixa Economica Federal, Asset Management Arm
79,757,542R$2.4b-0.01%17.24%
0.54%
Itau Unibanco S.A., Asset Management Arm
71,013,303R$2.1b-5.4%6.26%
0.49%
Lazard Asset Management LLC
63,315,182R$1.9b3.98%0.39%
0.48%
Opportunity Asset Administração de Recursos de Terceiros Ltda
62,115,452R$1.8b0%16.7%
0.43%
UBS Asset Management
56,396,795R$1.7b-0.07%0.07%
0.41%
BB Gestão De Recursos - Distribuidora de Títulos e Valores Mobiliários S.A.
53,889,147R$1.6b-0.28%8.39%
0.38%
Merrill Lynch & Co. Inc., Banking Investments
49,798,792R$1.5b23.99%0.15%
0.35%
Fisher Asset Management, LLC
45,244,596R$1.3b-32.86%0.21%
0.33%
Bradesco Asset Management S.A. Distribuidora de Títulos e Valores Mobiliários
43,629,675R$1.3b0%9.54%
0.33%
Franklin Resources, Inc.
43,226,924R$1.3b-21.76%0.11%
0.32%
Kapitalo Investimentos Ltda.
42,093,620R$1.2b0%21.73%
0.31%
Geode Capital Management, LLC
40,056,023R$1.2b2.78%0.03%
0.3%
Fundação dos Economiários Federais
39,694,919R$1.2b0%12.17%

Company Information

Petróleo Brasileiro S.A. - Petrobras's employee growth, exchange listings and data sources


Key Information

  • Name: Petróleo Brasileiro S.A. - Petrobras
  • Ticker: PETR4
  • Exchange: BOVESPA
  • Founded: 1953
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Implied Market Cap: R$407.948b
  • Shares outstanding: 13.04b
  • Website: https://petrobras.com.br

Number of Employees


Location

  • Petróleo Brasileiro S.A. - Petrobras
  • Avenida RepUblica do Chile, 65
  • Centro
  • Rio De Janeiro
  • Rio de Janeiro
  • 20031-912
  • Brazil


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PETR4BOVESPA (Bolsa de Valores de Sao Paulo)YesPreferred SharesBRBRLAug 1991
XPBRABME (Bolsas y Mercados Espanoles)YesPreferred SharesESEURAug 1991
PJXBDB (Deutsche Boerse AG)YesPreferred SharesDEEURAug 1991
PETR3BOVESPA (Bolsa de Valores de Sao Paulo)Common SharesBRBRLNov 1992
XPBRBME (Bolsas y Mercados Espanoles)Common SharesESEURNov 1992
PJXCDB (Deutsche Boerse AG)Common SharesDEEURNov 1992
PBR.ANYSE (New York Stock Exchange)SPONS ADR-EACH REPR 2 PREF SHS NPVUSUSDSep 1997
PJXDB (Deutsche Boerse AG)SPONS ADR-EACH REPR 2 PREF SHS NPVDEEURSep 1997
PBRA NBMV (Bolsa Mexicana de Valores)SPONS ADR-EACH REPR 2 PREF SHS NPVMXMXNSep 1997
PBRNYSE (New York Stock Exchange)SPONSORED ADRUSUSDAug 2000
PJXADB (Deutsche Boerse AG)SPONSORED ADRDEEURAug 2000
PBR NBMV (Bolsa Mexicana de Valores)SPONSORED ADRMXMXNAug 2000
0KHPLSE (London Stock Exchange)SPONSORED ADRGBUSDAug 2000
PBRBASE (Buenos Aires Stock Exchange)CEDEAR EACH REPR 1 ADS NPVARARSOct 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/26 00:00
End of Day Share Price2022/09/26 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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 here.