Petrobras S.A. Sponsored ADR (PBR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.4	$1.62	+15.7%	—	$33.6B	—
Q1 26	$0.99	$0.96	-3.0%	—	$23.5B	—
Q4 25	$0.57	$0.44	-22.8%	—	$23.6B	—
Q3 25	$0.71	$0.94	+32.4%	—	$23.5B	—
Q2 25	$0.66	$0.64	-3.0%	—	$115.3B	—
Q1 25	$0.8	$0.65	-18.8%	—	$21.1B	—
Q4 24	$0.19	$0.47	+147.4%	—	$20.8B	—
Q3 24	$0.74	$0.9	+21.6%	—	$23.4B	—
Q2 24	$0.31	$0.44	+41.9%	—	$23.5B	—
Q1 24	$0.8	$0.72	-10.0%	—	$23.8B	—
Q4 23	$1	$1.27	+27.0%	—	$27.1B	—
Q3 23	$0.94	$0.86	-8.5%	—	$149.3B	—
Q2 23	$0.88	$0.92	+4.5%	—	$134.3B	—
Q1 23	$0.92	$1.16	+26.1%	—	$156.5B	—
Q4 22	$1.11	$1.26	+13.5%	—	$176.3B	—
Q3 22	$1.55	$1.36	-12.3%	—	$189.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.04	—	—	$89.2B	—
FY24	—	$1.17	—	—	$91.4B	—
FY23	—	$3.82	—	—	$102.4B	—
FY22	—	$5.62	—	—	$727.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$475.8B	$455.2B	$494.7B	$447.6B	$313.8B	$490.7B	$727.5B	$102.4B	$91.4B	$89.2B
YoY change	-16.3%	-4.33%	+8.67%	-9.51%	-29.9%	+56.4%	+48.2%	-85.9%	-10.7%	-2.43%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	475.8B	455.2B	494.7B	447.6B	313.8B	490.7B	727.5B	102.4B	91.4B	89.2B
Cost of revenue	323.9B	299.2B	305B	267.3B	170.6B	252.3B	347.7B	48.4B	45.4B	46.7B
Gross profit	151.9B	156B	189.7B	180.3B	143.1B	238.5B	379.8B	54B	46B	42.5B
Gross margin	31.9%	34.3%	38.3%	40.3%	45.6%	48.6%	52.2%	52.7%	50.3%	47.6%
Research & development	3.1B	3.3B	3.7B	3.4B	2.1B	3.3B	4.6B	726M	789M	864M
Selling, general & administrative	51.4B	52.5B	47.8B	45.9B	26.4B	39.6B	40.9B	8.3B	9B	8.9B
Operating expenses	56B	78.6B	51B	54.9B	36.4B	46B	50.2B	11.1B	13.4B	10.5B
Operating income	91.7B	56.7B	133.1B	122.3B	117.2B	181.2B	311.3B	39.3B	25.7B	27.8B
Operating margin	19.3%	12.5%	26.9%	27.3%	37.3%	36.9%	42.8%	38.4%	28.1%	31.1%
Non-operating income, net	-78.9B	-9.7B	-47.3B	-15.2B	-85.5B	10.9B	18.1B	-468M	-10.8B	3B
Pretax income	-21.4B	8.8B	63.3B	70.2B	-1.3B	165B	312.8B	35.4B	11.1B	26.8B
Income tax	4B	9.9B	24.9B	24.5B	-6.9B	48.2B	98B	10.4B	3.5B	7.1B
Net income	-25.4B	987.7M	43.3B	60.6B	5.5B	116.8B	214.8B	25B	7.6B	19.7B
Net margin	-5.34%	0.22%	8.76%	13.5%	1.77%	23.8%	29.5%	24.4%	8.32%	22.1%
EBITDA	172.2B	135.2B	212.5B	212.1B	184.6B	270.4B	397.7B	53.2B	38.8B	43.9B
EPS	-0.74	-0.02	1.1	1.56	0.18	3.04	5.62	3.82	1.17	3.04
Diluted EPS	-0.74	-0.02	1.1	1.56	0.18	3.04	5.62	3.82	1.17	3.04

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	149.3B	27.1B	23.8B	23.5B	23.4B	20.8B	21.1B	115.3B	23.5B	23.6B	23.5B	33.6B
Cost of revenue	70B	12.5B	11.5B	11.7B	11.4B	10.8B	10.7B	60.4B	12.3B	12.8B	12.2B	14.1B
Gross profit	79.3B	14.7B	12.3B	11.7B	12B	10B	10.4B	54.9B	11.2B	10.8B	11.3B	19.5B
Gross margin	53.1%	54.1%	51.6%	50%	51.4%	48%	49.3%	47.6%	47.8%	45.9%	48.2%	58%
Research & development	1.1B	214M	183M	193M	195M	218M	202M	1.1B	233M	236M	249.9M	296M
Selling, general & administrative	11.9B	3.1B	2.1B	3B	2.1B	1.7B	1.9B	12.9B	1.6B	4.4B	3.1B	2B
Operating expenses	15.2B	4.7B	2.2B	3.4B	2.5B	5.3B	2.2B	19.9B	3.1B	518M	3.2B	3.5B
Operating income	59.2B	9.1B	9.1B	6.3B	8.7B	1.5B	7.3B	30B	7.7B	7B	6.8B	14.6B
Operating margin	39.6%	33.6%	38.3%	26.9%	37.4%	7.11%	34.5%	26%	32.9%	29.7%	29%	43.3%
Non-operating income, net	-7.9B	49M	-1.2B	-3.8B	121M	-5.8B	2.7B	10.3B	1.6B	-2.9B	2.7B	452M
Pretax income	45.3B	8.2B	7B	-352M	8.1B	-3.6B	9.1B	35.1B	8.3B	3B	9.3B	14.1B
Income tax	13.2B	2B	2.1B	-27M	2.2B	-788M	3.1B	9.1B	2.2B	80M	3.1B	3.6B
Net income	32.1B	6.3B	4.8B	-325M	5.9B	-2.8B	6B	26.1B	6.1B	2.9B	6.2B	10.4B
Net margin	21.5%	23.2%	20.2%	-1.38%	25.2%	-13.3%	28.4%	22.6%	25.8%	12.3%	26.5%	31.1%
EBITDA	78.8B	13.8B	12.4B	7.6B	12B	6.9B	10.7B	50.5B	11.9B	11.8B	10.7B	18.9B
EPS	0.84	—	0.74	-0.06	0.9	-0.43	0.92	4.06	0.94	—	0.96	1.62
Diluted EPS	0.84	—	0.74	-0.06	0.9	-0.43	0.92	4.06	0.94	—	0.96	1.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	386.3B	392.2B	495.9B	607.6B	428.1B	418.5B	406B	611.7B	—	76.4B	133.1B
Enterprise value	949.6B	888.3B	901.4B	1.1T	797.3B	696.9B	657.4B	658.7B	—	137B	85.8B
Shares outstanding	38.2B	38.1B	38.1B	38.1B	38.1B	38.1B	38.1B	38.3B	6.4B	6.4B	6.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	397.1	11.4	10	77.3	3.58	1.89	24.5	—	3.87	5.14
P/S	0.81	0.86	1	1.36	1.36	0.85	0.56	5.97	—	0.86	0.24
P/B	0.85	0.82	1.16	1.4	1.22	1.03	0.99	7.75	—	1.01	1.42
EV/EBITDA	5.52	6.57	4.24	5.04	4.32	2.58	1.65	12.4	—	3.12	1.83
EV/Sales	2	1.95	1.82	2.39	2.54	1.42	0.9	6.43	—	1.54	0.81
Earnings yield	—	0.25%	8.74%	9.97%	1.29%	27.9%	52.9%	4.09%	—	25.8%	19.4%
FCF yield	18.2%	20.2%	17%	1.64%	31.4%	43.9%	57.8%	5.08%	—	21.6%	13.7%
PEG	—	—	—	—	—	—	—	—	—	—	-0.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	31.9%	34.3%	38.3%	40.3%	45.6%	48.6%	52.2%	52.7%	50.3%	47.6%	58%
Operating margin	19.3%	12.5%	26.9%	27.3%	37.3%	36.9%	42.8%	38.4%	28.1%	31.1%	44.7%
Net margin	-5.34%	0.22%	8.76%	13.5%	1.77%	23.8%	29.5%	24.4%	8.32%	22.1%	24.3%
ROE	-5.61%	0.21%	10.1%	14%	1.58%	28.6%	52.6%	31.6%	12.8%	26%	30.3%
ROA	-1.76%	0.07%	3.34%	4.51%	0.5%	11.5%	19.6%	11.5%	4.19%	8.87%	10.1%
ROIC	9.02%	0%	9.7%	8.88%	16.3%	18.7%	32.4%	22%	15.6%	15%	17.4%
Return on tangible assets	-1.81%	0.07%	3.43%	5.43%	0.59%	11.9%	20.3%	11.8%	4.29%	9.08%	10.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.8	1.89	1.48	0.97	1.04	1.25	1	0.96	0.69	0.71	0.85
Quick ratio	1.46	1.55	1.12	0.68	0.83	0.95	0.72	0.73	0.48	0.48	0.58
Debt / equity	1.53	1.34	1.15	1.17	1.26	0.84	0.77	0.79	1.02	0.92	0.76
Debt / assets	0.48	0.43	0.38	0.38	0.4	0.34	0.29	0.29	0.33	0.31	0.29
Net debt / EBITDA	3.27	3.67	1.91	2.17	2	1.03	0.63	0.88	1.36	1.38	1.13
Interest coverage	0.39	1.26	3	2.8	0.96	6.67	17.2	10.8	3.9	7.54	12.1
Effective tax rate	0%	100%	39.3%	35%	0%	29.2%	31.3%	29.4%	31.7%	26.4%	26.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.5	11.9	13	11.7	8.23	12.9	19.1	2.67	14.2	13.8	85.1
EPS (basic)	-0.74	-0.02	1.1	1.56	0.18	3.04	5.62	3.82	1.17	3.04	3.04
EPS (diluted)	-0.74	-0.02	1.1	1.56	0.18	3.04	5.62	3.82	1.17	3.04	3.96
Book value per share	11.9	12.5	11.2	11.4	9.18	10.7	10.7	2.06	9.21	11.8	14.4
FCF per share	1.84	2.08	2.22	0.26	3.53	4.82	6.15	0.81	3.62	2.56	3.12
Cash per share	3.36	3.74	2.3	1.27	1.9	1.7	1.65	0.41	1.17	1.43	8.34
Capex per share	2.15	2.08	1.83	3.66	0.9	0.97	1.47	0.32	2.27	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	17.3%	17.4%	14.1%	31.2%	10.9%	7.53%	7.7%	11.8%	16%	—	—
Capex / operating cash flow	290.8%	147.8%	84.3%	121%	26%	20.6%	16.7%	25.5%	54.4%	—	—
Payout ratio	0%	0%	8.43%	18.1%	144.2%	65.4%	102.6%	78.7%	241%	41.1%	28.9%
Dividend yield	0%	0%	0.74%	1.81%	1.87%	18.3%	54.3%	3.22%	—	10.6%	10.3%

Yield

10.3%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.53

ex-dividend Aug 25, 2026

Payout ratio

29%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 25, 2026	$0.53
Jun 3, 2026	$0.143
Apr 24, 2026	$0.124

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$149.3B	$27.1B	$23.8B	$23.5B	$23.4B	$20.8B	$21.1B	$115.3B	$23.5B	$23.6B	$23.5B	$33.6B
YoY change	-21.2%	-84.6%	-84.8%	-82.5%	-84.4%	-23.2%	-11.3%	+391.4%	+0.48%	+13.4%	+11.4%	-70.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	128.5B	142.6B	87.6B	48.3B	72.3B	65B	62.9B	15.5B	7.5B	9.2B
Receivables	27.9B	29.1B	33.6B	22B	27.7B	37.2B	29.3B	6.1B	3.6B	4.6B
Inventory	49.5B	49.6B	52.5B	47.9B	33.2B	42.4B	51.3B	7.7B	6.7B	8.2B
Total current assets	261.7B	275.5B	216.6B	162.5B	160.1B	176.2B	182.6B	32.4B	21.8B	25.4B
Property, plant & equipment	1.3T	1.3T	1.2T	1.2T	370B	370.7B	365.8B	78.6B	68.9B	90.1B
Goodwill & intangibles	38.2B	27.4B	32.8B	227.6B	174.7B	35.4B	34.9B	6.1B	4.5B	5B
Total assets	1.4T	1.5T	1.3T	1.3T	1.1T	1T	1.1T	217.1B	181.6B	222.3B
Accounts payable	33.7B	33.7B	37B	32.7B	40.1B	32B	31.9B	4.8B	6.1B	7.4B
Short-term debt	57.1B	41.1B	21.6B	59.6B	57.8B	53B	53.4B	11.5B	11.1B	12.2B
Total current liabilities	145.5B	145.8B	146.4B	168.4B	153.3B	141.3B	183.4B	33.9B	31.5B	36.1B
Long-term debt	634.7B	597.6B	471.5B	449.5B	383.7B	290.3B	261.1B	51.1B	49.2B	57.6B
Total liabilities	990.3B	992.8B	870.2B	909B	760.6B	611B	685.9B	138.1B	122.3B	146.4B
Shareholders' equity	453.2B	476.3B	427.7B	433.7B	349.9B	408B	408.2B	79B	59.4B	75.9B
Total debt	691.8B	638.7B	493B	509.2B	441.5B	343.3B	314.4B	62.6B	60.3B	69.8B
Net debt	567.9B	507B	411.8B	466.1B	373B	282.1B	267.7B	49.9B	57B	63.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	78.4B	15.5B	16.4B	12.2B	14.3B	7.5B	7.7B	52.1B	11.7B	9.2B	9B	10.4B
Receivables	29.8B	6.1B	5B	4.4B	4.4B	3.6B	3.1B	18.6B	4.1B	4.6B	4.2B	6.3B
Inventory	46.1B	7.7B	8.2B	7.3B	7.4B	6.7B	7.5B	45.1B	8.7B	8.2B	9.2B	9.7B
Total current assets	171.9B	32.4B	33.2B	28.7B	30.7B	21.8B	21.7B	136.5B	28.1B	25.4B	26.7B	29.9B
Property, plant & equipment	426.5B	78.6B	77.2B	69.8B	73.1B	68.9B	79.3B	469.3B	90.6B	90.1B	96.8B	100.1B
Goodwill & intangibles	34.1B	6.1B	5.9B	5.4B	5.1B	4.5B	4.6B	26.7B	5B	5B	5.3B	5.5B
Total assets	1.2T	217.1B	213.6B	190.4B	197.8B	181.6B	199.9B	1.2T	227.9B	222.3B	236.6B	247.1B
Accounts payable	27.3B	4.8B	5.2B	4.8B	5.3B	6.1B	5.4B	34.5B	6.8B	7.4B	7.4B	6.6B
Short-term debt	64.4B	11.5B	12.4B	12.1B	11.7B	11.1B	11.6B	64.4B	12.1B	12.2B	12.6B	11.7B
Total current liabilities	180.4B	33.9B	30.8B	32B	32.8B	31.5B	30.3B	180B	34.3B	36.1B	35.9B	35B
Long-term debt	292.1B	51.1B	49.5B	47.6B	47.4B	49.2B	52.9B	308.7B	58.6B	57.6B	58B	59.1B
Total liabilities	744.6B	138.1B	131.6B	122.8B	125.3B	122.3B	130.6B	776.5B	148B	146.4B	151.8B	154B
Shareholders' equity	452.3B	79B	82B	67.6B	72.5B	59.4B	69.2B	403.6B	79.9B	75.9B	84.7B	93.1B
Total debt	356.5B	62.6B	61.8B	59.6B	59.1B	60.3B	64.5B	373.1B	70.7B	69.8B	70.6B	70.8B
Net debt	285.7B	49.9B	50.3B	51.7B	50.4B	57B	59.8B	334.7B	61.7B	63.3B	64.1B	64.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-25.4B	987.7M	43.3B	60.6B	5.5B	116.8B	214.8B	25B	7.6B	19.7B
Depreciation & amortization	81.6B	76.9B	69.6B	86.7B	66.9B	68.4B	77.3B	13.3B	12.5B	15.1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-17.7B	-27.1B	-27.8B	-38.5B	-7.7B	-48.6B	-39.3B	-3.3B	-685M	-3.3B
Operating cash flow	28.3B	53.6B	82.6B	115.4B	132.2B	179.3B	334.3B	47.5B	26.9B	36B
Capital expenditure	-82.3B	-79.2B	-69.6B	-139.7B	-34.3B	-37B	-56B	-12.1B	-14.6B	—
Investing cash flow	-66.5B	-78.3B	-20.3B	-77.7B	-27.8B	8B	-4.7B	-8B	-13.5B	970M
Dividends paid	0	0	-3.7B	-11B	-8B	-76.4B	-220.3B	-19.7B	-18.3B	-8.1B
Share repurchases	—	—	—	—	—	0	0	-735M	-380M	0
Financing cash flow	-69B	-35B	-140.2B	-158.2B	-94.1B	-225.4B	-289.9B	-28.7B	-31.2B	-15.6B
Net change in cash	-107.2B	-59.7B	-78B	-120.5B	10.3B	-38B	39.7B	10.7B	-17.8B	21.4B
Free cash flow	70.3B	79.3B	84.4B	10B	134.5B	183.9B	234.6B	31.1B	23.3B	16.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	32.1B	6.3B	4.8B	-325M	5.9B	-2.8B	6B	23.6B	6.1B	2.9B	6.2B	10.4B
Depreciation & amortization	20.3B	3.6B	3.4B	3.1B	3B	3B	3.2B	19.1B	4.1B	4.1B	4.1B	4.3B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-12.8B	-1.3B	-555M	532M	-23M	-615M	-1.3B	-6.2B	-1.5B	738M	-2.6B	-4.3B
Operating cash flow	54.2B	11.9B	10.2B	3.7B	11.5B	1.5B	11.4B	38.5B	9.9B	10.2B	8.3B	12.3B
Capital expenditure	-18.6B	-3.6B	-2.8B	-2.9B	-4.4B	-4.4B	-4B	—	—	—	—	—
Investing cash flow	-15.1B	-3.6B	-1.9B	-2.7B	-4.8B	-3.3B	-3.1B	-307.5M	42M	65M	530.1M	76M
Dividends paid	-28.3B	-4.4B	-3.5B	-7.1B	-2.3B	-5.5B	-2.9B	-8.6B	-2B	-1.5B	-2.2B	-1.5B
Share repurchases	-1.2B	-3.2B	-232M	-148M	0	0	0	0	0	0	—	—
Financing cash flow	-37.9B	-10.1B	-6.6B	-10B	-5.4B	-9.3B	-4.9B	-11.5B	-2.7B	-5.6B	-4.1B	-6.2B
Net change in cash	1.2B	-1.8B	1.8B	-9B	1.3B	-11B	3.3B	26.7B	7.2B	4.6B	4.7B	6.1B
Free cash flow	48.9B	8.1B	6.5B	6.2B	6.9B	3.8B	4.5B	17.7B	5B	3.6B	3.8B	7.7B

Date	Ratio
May 8, 2008	2:1
Jul 2, 2007	2:1

Petrobras S.A. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history