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PETROLEO BRASILEIRO-SPON ADR (PBR) Stock Fundamental Analysis

NYSE:PBR - New York Stock Exchange, Inc. - US71654V4086 - ADR - Currency: USD

11.61  +0.26 (+2.29%)

After market: 11.6199 +0.01 (+0.09%)

Fundamental Rating

5

PBR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 212 industry peers in the Oil, Gas & Consumable Fuels industry. PBR has an excellent profitability rating, but there are concerns on its financial health. PBR has a bad growth rate and is valued cheaply.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

PBR had positive earnings in the past year.
PBR had a positive operating cash flow in the past year.
PBR had positive earnings in 4 of the past 5 years.
Of the past 5 years PBR 4 years had a positive operating cash flow.
PBR Yearly Net Income VS EBIT VS OCF VS FCFPBR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100B 200B

1.2 Ratios

PBR's Return On Assets of 7.86% is fine compared to the rest of the industry. PBR outperforms 74.06% of its industry peers.
PBR's Return On Equity of 21.51% is amongst the best of the industry. PBR outperforms 82.08% of its industry peers.
PBR has a better Return On Invested Capital (13.65%) than 85.85% of its industry peers.
PBR had an Average Return On Invested Capital over the past 3 years of 17.83%. This is significantly below the industry average of 25.74%.
The last Return On Invested Capital (13.65%) for PBR is well below the 3 year average (17.83%), which needs to be investigated, but indicates that PBR had better years and this may not be a problem.
Industry RankSector Rank
ROA 7.86%
ROE 21.51%
ROIC 13.65%
ROA(3y)14.03%
ROA(5y)9.43%
ROE(3y)37.41%
ROE(5y)25.62%
ROIC(3y)17.83%
ROIC(5y)13.33%
PBR Yearly ROA, ROE, ROICPBR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40

1.3 Margins

With a decent Profit Margin value of 16.81%, PBR is doing good in the industry, outperforming 66.98% of the companies in the same industry.
In the last couple of years the Profit Margin of PBR has grown nicely.
The Operating Margin of PBR (34.98%) is better than 73.58% of its industry peers.
PBR's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 46.86%, PBR is in line with its industry, outperforming 50.94% of the companies in the same industry.
In the last couple of years the Gross Margin of PBR has grown nicely.
Industry RankSector Rank
OM 34.98%
PM (TTM) 16.81%
GM 46.86%
OM growth 3Y8.77%
OM growth 5Y9.7%
PM growth 3Y110.41%
PM growth 5Y23.98%
GM growth 3Y8.88%
GM growth 5Y8.21%
PBR Yearly Profit, Operating, Gross MarginsPBR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 30 40

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3

2. Health

2.1 Basic Checks

PBR has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
There is no outstanding debt for PBR. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
PBR Yearly Shares OutstandingPBR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B
PBR Yearly Total Debt VS Total AssetsPBR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200B 400B 600B 800B 1T

2.2 Solvency

PBR has an Altman-Z score of 1.55. This is a bad value and indicates that PBR is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of PBR (1.55) is comparable to the rest of the industry.
The Debt to FCF ratio of PBR is 2.11, which is a good value as it means it would take PBR, 2.11 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of PBR (2.11) is better than 82.08% of its industry peers.
PBR has a Debt/Equity ratio of 0.66. This is a neutral value indicating PBR is somewhat dependend on debt financing.
PBR has a worse Debt to Equity ratio (0.66) than 62.74% of its industry peers.
Even though the debt/equity ratio score it not favorable for PBR, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.11
Altman-Z 1.55
ROIC/WACC0.91
WACC15.07%
PBR Yearly LT Debt VS Equity VS FCFPBR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 100B 200B 300B 400B

2.3 Liquidity

PBR has a Current Ratio of 0.94. This is a bad value and indicates that PBR is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.94, PBR is doing worse than 61.79% of the companies in the same industry.
A Quick Ratio of 0.71 indicates that PBR may have some problems paying its short term obligations.
With a Quick ratio value of 0.71, PBR is not doing good in the industry: 68.40% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.71
PBR Yearly Current Assets VS Current LiabilitesPBR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50B 100B 150B

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2

3. Growth

3.1 Past

The earnings per share for PBR have decreased strongly by -32.43% in the last year.
PBR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.66% yearly.
EPS 1Y (TTM)-32.43%
EPS 3Y3.04%
EPS 5Y16.66%
EPS Q2Q%-56.37%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-9.68%

3.2 Future

Based on estimates for the next years, PBR will show a small growth in Earnings Per Share. The EPS will grow by 2.33% on average per year.
The Revenue is expected to grow by 0.13% on average over the next years.
EPS Next Y17.05%
EPS Next 2Y7.68%
EPS Next 3Y7.47%
EPS Next 5Y2.33%
Revenue Next Year-3.56%
Revenue Next 2Y-1.28%
Revenue Next 3Y1.36%
Revenue Next 5Y0.13%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
PBR Yearly Revenue VS EstimatesPBR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200B 400B 600B
PBR Yearly EPS VS EstimatesPBR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 10 20

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9

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 4.66, the valuation of PBR can be described as very cheap.
PBR's Price/Earnings ratio is rather cheap when compared to the industry. PBR is cheaper than 87.26% of the companies in the same industry.
PBR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.22.
The Price/Forward Earnings ratio is 3.99, which indicates a rather cheap valuation of PBR.
Based on the Price/Forward Earnings ratio, PBR is valued cheaper than 94.34% of the companies in the same industry.
PBR is valuated cheaply when we compare the Price/Forward Earnings ratio to 20.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 4.66
Fwd PE 3.99
PBR Price Earnings VS Forward Price EarningsPBR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, PBR is valued cheaply inside the industry as 88.68% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, PBR is valued cheaply inside the industry as 93.87% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 2.95
EV/EBITDA 2.47
PBR Per share dataPBR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

PBR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of PBR may justify a higher PE ratio.
PEG (NY)0.27
PEG (5Y)0.28
EPS Next 2Y7.68%
EPS Next 3Y7.47%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.58%, PBR is a good candidate for dividend investing.
PBR's Dividend Yield is comparable with the industry average which is at 7.33.
Compared to an average S&P500 Dividend Yield of 2.44, PBR pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.58%

5.2 History

On average, the dividend of PBR grows each year by 110.80%, which is quite nice.
PBR has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)110.8%
Div Incr Years0
Div Non Decr Years0
PBR Yearly Dividends per sharePBR Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

PBR pays out 105.18% of its income as dividend. This is not a sustainable payout ratio.
The dividend of PBR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP105.18%
EPS Next 2Y7.68%
EPS Next 3Y7.47%
PBR Yearly Income VS Free CF VS DividendPBR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50B 100B 150B 200B
PBR Dividend Payout.PBR Dividend Payout, showing the Payout Ratio.PBR Dividend Payout.PayoutRetained Earnings

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PETROLEO BRASILEIRO-SPON ADR

NYSE:PBR (5/2/2025, 8:16:35 PM)

After market: 11.6199 +0.01 (+0.09%)

11.61

+0.26 (+2.29%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-26 2025-02-26/amc
Earnings (Next)05-12 2025-05-12
Inst Owners35.68%
Inst Owner Change0.14%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap74.82B
Analysts83.53
Price Target17 (46.43%)
Short Float %1.35%
Short Ratio1.23
Dividend
Industry RankSector Rank
Dividend Yield 4.58%
Yearly Dividend2.65
Dividend Growth(5Y)110.8%
DP105.18%
Div Incr Years0
Div Non Decr Years0
Ex-Date04-22 2025-04-22 (0.25942)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-15.64%
Min EPS beat(2)-45.32%
Max EPS beat(2)14.05%
EPS beat(4)2
Avg EPS beat(4)-6.04%
Min EPS beat(4)-45.32%
Max EPS beat(4)25.81%
EPS beat(8)4
Avg EPS beat(8)-0.34%
EPS beat(12)6
Avg EPS beat(12)0.3%
EPS beat(16)8
Avg EPS beat(16)64.54%
Revenue beat(2)1
Avg Revenue beat(2)-3.74%
Min Revenue beat(2)-8.16%
Max Revenue beat(2)0.67%
Revenue beat(4)1
Avg Revenue beat(4)-4.91%
Min Revenue beat(4)-9.49%
Max Revenue beat(4)0.67%
Revenue beat(8)1
Avg Revenue beat(8)-4.28%
Revenue beat(12)3
Avg Revenue beat(12)-2.72%
Revenue beat(16)4
Avg Revenue beat(16)-2.56%
PT rev (1m)-1.19%
PT rev (3m)1.82%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-22.91%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.59%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.74%
Valuation
Industry RankSector Rank
PE 4.66
Fwd PE 3.99
P/S 0.83
P/FCF 2.95
P/OCF 1.96
P/B 1.07
P/tB 1.11
EV/EBITDA 2.47
EPS(TTM)2.49
EY21.45%
EPS(NY)2.91
Fwd EY25.07%
FCF(TTM)3.93
FCFY33.88%
OCF(TTM)5.92
OCFY50.96%
SpS13.93
BVpS10.88
TBVpS10.5
PEG (NY)0.27
PEG (5Y)0.28
Profitability
Industry RankSector Rank
ROA 7.86%
ROE 21.51%
ROCE 19.61%
ROIC 13.65%
ROICexc 14.94%
ROICexgc 15.2%
OM 34.98%
PM (TTM) 16.81%
GM 46.86%
FCFM 28.24%
ROA(3y)14.03%
ROA(5y)9.43%
ROE(3y)37.41%
ROE(5y)25.62%
ROIC(3y)17.83%
ROIC(5y)13.33%
ROICexc(3y)19.28%
ROICexc(5y)14.36%
ROICexgc(3y)19.68%
ROICexgc(5y)14.91%
ROCE(3y)25.61%
ROCE(5y)19.14%
ROICexcg growth 3Y29.17%
ROICexcg growth 5Y17.97%
ROICexc growth 3Y32.91%
ROICexc growth 5Y17.9%
OM growth 3Y8.77%
OM growth 5Y9.7%
PM growth 3Y110.41%
PM growth 5Y23.98%
GM growth 3Y8.88%
GM growth 5Y8.21%
F-Score6
Asset Turnover0.47
Health
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.11
Debt/EBITDA 1.06
Cap/Depr 106.23%
Cap/Sales 14.24%
Interest Coverage 17.63
Cash Conversion 87.8%
Profit Quality 168.01%
Current Ratio 0.94
Quick Ratio 0.71
Altman-Z 1.55
F-Score6
WACC15.07%
ROIC/WACC0.91
Cap/Depr(3y)72.68%
Cap/Depr(5y)65.52%
Cap/Sales(3y)9.02%
Cap/Sales(5y)9.87%
Profit Quality(3y)130.79%
Profit Quality(5y)444.63%
High Growth Momentum
Growth
EPS 1Y (TTM)-32.43%
EPS 3Y3.04%
EPS 5Y16.66%
EPS Q2Q%-56.37%
EPS Next Y17.05%
EPS Next 2Y7.68%
EPS Next 3Y7.47%
EPS Next 5Y2.33%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-9.68%
Revenue Next Year-3.56%
Revenue Next 2Y-1.28%
Revenue Next 3Y1.36%
Revenue Next 5Y0.13%
EBIT growth 1Y-18.36%
EBIT growth 3Y34.29%
EBIT growth 5Y21.26%
EBIT Next Year19.51%
EBIT Next 3Y8.68%
EBIT Next 5Y5.93%
FCF growth 1Y-28.45%
FCF growth 3Y9.57%
FCF growth 5Y24.34%
OCF growth 1Y-10.53%
OCF growth 3Y13.35%
OCF growth 5Y17.61%