Petróleo Brasileiro S.A. - Petrobras (PBR) Analyse boursière

Présentation de l'entreprise

Petróleo Brasileiro S.A. - Petrobras operates as a comprehensive integrated energy entity, exploring, producing, and selling crude oil and natural gas across Brazil and international markets. The company functions through three distinct operational segments: Exploration and Production, Refining, Transportation & Marketing, and Gas & Low Carbon Energies, with its Exploration and Production segment specifically dedicated to exploring and developing reserves. This major player is situated within the Energy sector and the Oil & Gas Integrated industry, positions that define its exposure to global commodity cycles and domestic energy policy. In terms of scale, the company commands a market capitalization of $133.46B and reported annual revenue (TTM) of $497.55B, supporting an workforce of 43199 employees. These valuation and revenue figures indicate that Petrobras maintains a massive footprint in the global energy landscape, reflecting its status as a significant supplier of fuel and power essential to industrial and residential consumption worldwide.

Santé financière

The company's financial performance over the trailing twelve months is characterized by a Revenue of $497.55B, Net Income of $110.13B, and EBITDA of $208.14B. The substantial gap between the total revenue and net income reveals a robust cost structure where operating expenses, including depletion, taxes, and refining costs, consume approximately $387.42B of the top line, yet the remaining profit remains highly substantial. This operational efficiency is further evidenced by a Free Cash Flow of $85.00B, which signifies a strong capacity to generate liquidity independent of non-cash accounting adjustments, thereby providing significant financial flexibility for debt servicing or capital allocation. Profitability is highlighted by a Gross Margin of 47.6%, an Operating Margin of 26.9%, and a Profit Margin of 22.1%, indicating that the company retains more than one-fifth of every dollar earned as net profit after all expenses. Regarding leverage, the balance sheet shows a Cash position of $50.61B against a total Debt of $384.03B, resulting in a Debt to Equity ratio of 91.96%, which suggests a highly leveraged capital structure typical of capital-intensive upstream and midstream operations. Short-term liquidity is indicated by a Current Ratio of 0.71, implying that current assets are slightly lower than current liabilities, which requires careful management of working capital and reliance on operating cash flows to meet obligations. Management effectiveness is quantified by a Return on Equity of 28.2% and a Return on Assets of 8.6%, demonstrating that shareholders are rewarded at a high rate relative to the equity invested, while the company generates solid returns on its total asset base.

Évaluation de la valorisation

The market assigns a Trailing Twelve Months P/E Ratio of 6.64 and a Forward P/E of 6.78, where the minimal difference between these metrics implies that earnings growth expectations for the coming year are projected to be roughly in line with historical performance. The Price to Book ratio stands at 3.34, indicating that the market values the company at more than three times its book value, suggesting a premium pricing over the tangible net assets recorded on the balance sheet. Alternative valuation perspectives include a Price to Sales ratio of 0.27 and an EV/EBITDA of 2.89, which suggest the stock is priced at a fraction of its sales and generates significant cash relative to its enterprise value multiple. Price volatility over the last year is defined by a 52-Week High of $21.40 and a 52-Week Low of $11.03; without a specific current share price provided in the data, the valuation range establishes a trading band of $10.37 per share. The Beta value of -0.07 is unique, indicating that the stock's price movements have historically moved inversely to the broader market or displayed negligible correlation to general market indices, offering a distinct risk profile compared to typical equities.

Growth & Income

The revenue growth rate over the last year stands at 5.0%, while the earnings growth rate is listed as N/A in the available data. In the absence of reported year-over-year earnings growth, the revenue expansion suggests top-line stability driven by volume or pricing, though the lack of explicit earnings growth data prevents a direct comparison of margin expansion or contraction relative to sales. As a dividend payer, the company offers a Dividend Yield of 7.0% with a Payout Ratio of 54.3%. This payout ratio indicates that the company distributes slightly more than half of its earnings to shareholders, a level that generally remains sustainable provided that commodity prices and operational costs remain within predictable ranges. Since the earnings growth metric is not explicitly quantified as a positive percentage, the focus remains on the consistency of revenue generation and the high cash flow generation that supports the substantial dividend yield. Overall, the financial profile presents a high-yield income instrument with moderate revenue growth, characterized by a capital-intensive structure and a beta that deviates from standard market behavior.