| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 97 | 2.5x | 17.3x | Top tier | |
Growth | 64 | 136.8% | 7.1% | Around median | |
Quality | 81 | 31.4% | 4.5% | Top tier | |
Safety | 76 | 0.7x | 2.6x | Top tier | |
Capital Return | 45 | 5.79% | 0.06% | Around median | |
Momentum | 99 | 71.4% | -1.6% | Top tier | |
Sentiment | 83 | 5 | 3 | Top tier |
The floor: what the company is worth if growth stopped today
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Petróleo Brasileiro S.A. - Petrobras, listed under the ticker PBR-A on NYSE, operates in oil and gas production, oil refining, and fuel marketing and exports, with operations focused on Brazil. The company connects production from offshore fields, including Buzios, Mero, and Tupi, with refinery operations and sales of products such as diesel, gasoline, and jet fuel; its revenue is therefore affected by production volumes, oil prices, product mix, and refining and logistics efficiency.
In quarter 2 of fiscal year 2026 (ended 2026-06-30), Petrobras oil production reached 2.7 million barrels per day, up 15% from the same quarter of the previous fiscal year and exceeding the quarterly target of 2.5 million barrels per day. Refinery utilization reached 101%, refined product output rose 6% from the previous quarter, and imports fell 40% from the previous quarter. This operating mix is particularly significant for the company because it combines an increase in oil available for sale with a reduced need to purchase refined products from abroad.
Revenue totaled 204.4 billion dollars and net income 52.0 billion dollars over the last 12 months through 2026-06-30, with operating cash flow of 40.2 billion dollars and free cash flow of 19.3 billion dollars, according to EL7 data. Fiscal year 2025 (ended 2025-12-31) recorded revenue of 89.1 billion dollars, net income of 19.7 billion dollars, and a gross margin of 43.7%. These figures reveal a difference between the strength of accounting profitability and cash generation, as operating cash flow equaled 77% of net income over the last 12 months through 2026-06-30.
Last 12 months to 2026-06-30
When: 2026-11-10
Average oil production at 2.7 million barrels per day in the expected earnings announcement
Refinery utilization at 101% in the expected earnings announcement
The no-growth value is 74 dollars, an estimate of current after-tax operating profit continuing unchanged forever, using a discount rate of 8.7%. The discounted cash flow model estimate is 17 dollars, within a range of 12 dollars to 25 dollars and at a discount rate of 8.7%, measuring the value of expected cash generation while following analysts' earnings estimates. The two methods do not converge; the no-growth value holds operating profit constant, while the cash flow model values the path of future cash flows, so the name of the first method does not mean it must produce a lower value. Analyst targets naturally tend toward optimism and cash flow models toward conservatism, while the analyst consensus on Petrobras is Buy. EL7's valuation pillar adds an industry comparison with a score of 96 out of 100 and a ranking of 3 out of 47 using data for the period ended 2026-06-30, without resolving the divergence between the two methods.
Figures in the text are as of 2026-10-19; the live price is shown at the top of the page.
Oil production reached 2.7 million barrels per day in quarter 2 of fiscal year 2026 (ended 2026-06-30), up 15% from the same quarter of the previous fiscal year. Management linked this improvement on the 2026-08-07 call to the ramp-up of platforms such as P-78 and P-79 and efficiency improvements at existing assets. Almirante Tamandare reached 270,000 barrels per day versus an original capacity of 225,000 barrels per day, illustrating the contribution of debottlenecking to volume growth.
Net income totaled 52.0 billion dollars over the last 12 months through 2026-06-30, compared with operating cash flow of 40.2 billion dollars according to EL7 data, a conversion ratio of 77%. Free cash flow totaled 19.3 billion dollars according to EL7 data for the same period, a figure distinct from accounting profit. Management explained on the 2026-08-07 call that advancing projects and reducing debt were priorities, and that extraordinary distributions were unlikely given those priorities.
Automated analysis for informational purposes only — not investment advice.
Refinery utilization reached 101% in quarter 2 of fiscal year 2026 (ended 2026-06-30), with refined product output increasing 6% from the previous quarter. This helped reduce imports by 40% from the previous quarter, particularly diesel, while maintaining the share of higher-value products in the production mix. Management stated on the 2026-08-07 call that work at REGAP and REPLAN had been postponed to the beginning of fiscal year 2027 (ending 2027-12-31) to align it with expansions, following reliability assessments and inspections.
Management stated on the 2026-08-07 call that Mataripe was undergoing due diligence and that negotiations had not progressed, without announcing a purchase transaction. Regarding Braskem, it confirmed that options were being studied following the new shareholders' agreement, which strengthened Petrobras's influence over decisions, without announcing a commitment to inject capital. Both matters therefore remain potential capital allocation decisions and do not represent an announced acquisition or financing.
The no-growth value is 74 dollars because it assumes current after-tax operating profit continues forever, while the discounted cash flow estimate is 17 dollars within a range of 12 dollars to 25 dollars. Both methods use a discount rate of 8.7%, but the second follows analysts' earnings estimates and values expected cash generation. The difference therefore reflects the result's sensitivity to the definition of cash flow and its future trajectory, while the analyst consensus on Petrobras remains Buy.