Petrobras (PBR) Stock Analysis

July 23, 2026

This is a peer-relative look at Petrobras (PBR): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Energy peers, so every number reads in context rather than in isolation.

Company Profile

Petrobras (PBR) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for Petrobras (PBR)
Profile Item	PBR
Name	Petrobras S.A. Sponsored ADR
Country/Region	Brazil
GICS Sector	Energy
GICS Industry Group	Energy
GICS Industry	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Integrated Oil & Gas
Market Capitalization	119.48 billion USD
Currency	USD
Exchange	NYSE
Listing Date	August 10, 2000
Security Type	ADR

Price Performance

Cumulative Growth

PBR

GSPC

Petrobras (PBR) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Petrobras (PBR) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Petrobras (PBR) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Total Return (1Y)	57.96%	47.02%
Total Return (3Y, Annualized)	23.55%	16.02%
Total Return (5Y, Annualized)	40.99%	20.34%

Risk Profile

Drawdown History

PBR

GSPC

Petrobras (PBR) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Petrobras (PBR) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Volatility (1Y, Annualized)	31.97%	41.47%
Beta (5Y)	0.36	0.59
Max Drawdown (5Y)	-35.75%	-52.50%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. PBR is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Sharpe Ratio (1Y)	1.69	1.21
Sortino Ratio (1Y)	2.55	1.87

Profitability

ROE (TTM)

Petrobras (PBR) posts ROE of 25.60%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

PBR

Energy industry group

25.60%

Group distribution

Max: 37.23%
PBR: 25.60%
Q3: 15.97%
Median: 9.26%
Q1: -1.11%
Min: -20.70%

Largest peers

PBR: 25.60%
TTE: 12.51%
COP: 11.28%
SHEL: 10.70%
ENB: 10.13%
XOM: 9.87%
CVX: 6.64%

Where Petrobras (PBR) stands on ROE within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Petrobras (PBR) keeps 21.60% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

PBR

Energy industry group

21.60%

Group distribution

Max: 46.37%
PBR: 21.60%
Q3: 18.84%
Median: 6.23%
Q1: 0.00%
Min: -27.23%

Largest peers

PBR: 21.60%
COP: 12.33%
ENB: 10.00%
TTE: 8.20%
XOM: 7.77%
SHEL: 7.01%
CVX: 5.93%

Where Petrobras (PBR) stands on net margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Petrobras (PBR) turns 31.95% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

PBR

Energy industry group

31.95%

Group distribution

Max: 68.02%
PBR: 31.95%
Q3: 29.22%
Median: 12.12%
Q1: 0.00%
Min: -41.46%

Largest peers

PBR: 31.95%
COP: 22.05%
TTE: 20.35%
SHEL: 14.87%
ENB: 14.73%
CVX: 7.31%
XOM: 6.36%

Where Petrobras (PBR) stands on operating margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
ROE (TTM)	25.60%	9.26%
ROA (TTM)	8.23%	4.22%
Net Margin (TTM)	21.60%	6.23%
Operating Margin (TTM)	31.95%	12.12%
Gross Margin (TTM)	47.36%	41.77%

Growth

Revenue Growth

Petrobras (PBR) grew revenue -13.51%, in the lower peer quartile. The top line is expanding more slowly than at most peers, which can reflect softer demand, lost share, or weaker pricing.

Petrobras (PBR): Revenue Growth across different time periods, set against Energy industry-group medians.

EPS Growth

Petrobras (PBR) grew earnings per share 132.32%, in the upper peer quartile. Per-share profits are compounding faster than at most industry peers.

Petrobras (PBR): EPS Growth across different time periods, set against Energy industry-group medians.

Growth Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Revenue Growth (YoY)	-13.51%	0.51%
Revenue Growth (3Y CAGR)	-9.45%	0.65%
EPS Growth (YoY)	132.32%	-12.75%
EPS Growth (3Y CAGR)	-17.55%	-12.42%

Financial Strength

Current Ratio (MRQ)

Petrobras (PBR) has current ratio of 0.74, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

PBR

Energy industry group

0.74

Group distribution

Max: 3.33
Q3: 2.11
Median: 1.30
Q1: 0.83
PBR: 0.74
Min: 0.08

Largest peers

COP: 1.29
SHEL: 1.28
CVX: 1.09
TTE: 1.08
XOM: 1.04
ENB: 0.81
PBR: 0.74

Where Petrobras (PBR) stands on current ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Petrobras (PBR) has debt-to-equity ratio of 0.83, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

PBR

Energy industry group

0.83

Group distribution

Max: 2.02
Q3: 1.01
PBR: 0.83
Median: 0.61
Q1: 0.31
Min: 0.00

Largest peers

ENB: 1.60
PBR: 0.83
TTE: 0.51
SHEL: 0.43
COP: 0.36
CVX: 0.24
XOM: 0.18

Where Petrobras (PBR) stands on debt-to-equity ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Current Ratio (MRQ)	0.74	1.30
Debt / Equity (MRQ)	0.83	0.61
Net Debt / EBITDA	1.59	1.39

Dividends

Dividend Yield (TTM)

Petrobras (PBR) has dividend yield of 16.44%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

PBR

Energy industry group

16.44%

Group distribution

PBR: 16.44%
Max: 8.32%
Q3: 3.37%
Median: 1.41%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR: 16.44%
ENB: 6.82%
TTE: 5.09%
CVX: 3.64%
COP: 2.80%
XOM: 2.72%
SHEL: 1.72%

Where Petrobras (PBR) stands on dividend yield within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Petrobras (PBR) has payout ratio of 41.58%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

PBR

Energy industry group

41.58%

Group distribution

Max: 139.86%
Q3: 62.17%
PBR: 41.58%
Median: 31.82%
Q1: 0.00%
Min: 0.00%

Largest peers

ENB: 128.73%
CVX: 120.38%
XOM: 68.01%
TTE: 58.84%
COP: 54.92%
SHEL: 45.05%
PBR: 41.58%

Where Petrobras (PBR) stands on payout ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
Dividend Yield (TTM)	16.44%	1.41%
Dividend Payout Ratio (TTM)	41.58%	31.82%

Valuation

P/E Ratio (TTM)

Petrobras (PBR) trades at P/E ratio of 5.79, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

PBR

Energy industry group

5.79

Group distribution

Max: 56.89
Q3: 30.88
Median: 17.62
Q1: 11.21
PBR: 5.79
Min: 1.65

Largest peers

CVX: 33.00
ENB: 26.79
XOM: 24.99
COP: 19.62
SHEL: 13.58
TTE: 11.98
PBR: 5.79

Where Petrobras (PBR) stands on P/E ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Petrobras (PBR) trades at 0.24 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

PBR

Energy industry group

0.24

Group distribution

Max: 5.86
Q3: 3.19
Median: 1.90
Q1: 1.00
PBR: 0.24
Min: 0.00

Largest peers

COP: 2.41
CVX: 2.05
XOM: 1.93
ENB: 1.75
TTE: 1.01
SHEL: 0.90
PBR: 0.24

Where Petrobras (PBR) stands on P/S ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Petrobras (PBR) trades at 1.37 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

PBR

Energy industry group

1.37

Group distribution

Max: 5.02
Q3: 2.85
Median: 1.76
PBR: 1.37
Q1: 1.21
Min: 0.01

Largest peers

ENB: 2.93
XOM: 2.47
COP: 2.22
CVX: 2.06
TTE: 1.45
SHEL: 1.42
PBR: 1.37

Where Petrobras (PBR) stands on P/B ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Petrobras (PBR) metric values compared with Energy industry-group medians
Metric	Current stock: PBR	Industry group median
P/E Ratio (TTM)	5.79	17.62
P/S Ratio (TTM)	0.24	1.90
P/B Ratio (MRQ)	1.37	1.76
Free Cash Flow Yield (TTM)	69.41%	3.34%