PBR vs. SHEL: Petrobras vs. Shell Stock Comparison

October 3, 2026

How do Petrobras (PBR) and Shell (SHEL) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Petrobras (PBR) and Shell (SHEL) are both classified in the Integrated Oil & Gas sub-industry within the broader Oil, Gas & Consumable Fuels industry, placing them in the closest GICS peer bucket.

Both Petrobras (PBR) and Shell (SHEL) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Petrobras (PBR) and Shell (SHEL)
Profile Item	PBR	SHEL
Name	Petróleo Brasileiro S.A. - Petrobras	Shell plc American Depositary Shares (Each representing two Ordinary shares)
Country/Region	Brazil	United Kingdom
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Integrated Oil & Gas	Integrated Oil & Gas
Market Capitalization	139.52 billion USD	274.15 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 10, 2000	March 12, 1984
Security Type	ADR	ADR

Price Performance

Cumulative Growth

PBR

SHEL

GSPC

Petrobras (PBR) vs. Shell (SHEL), with S&P 500 (GSPC) for reference: 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 Shell (SHEL). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Petrobras (PBR) and Shell (SHEL). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Total Return (1Y)	81.58%	39.07%
Total Return (3Y, Annualized)	27.59%	19.57%
Total Return (5Y, Annualized)	44.50%	20.60%

Risk Profile

Drawdown History

PBR

SHEL

GSPC

Petrobras (PBR) vs. Shell (SHEL), with S&P 500 (GSPC) for reference: 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 Shell (SHEL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Volatility (1Y, Annualized)	33.09%	22.92%
Beta (5Y)	0.36	0.10
Max Drawdown (5Y)	-35.75%	-25.04%
Avg. Volume (3M)	18.71M	6.40M

Risk-Adjusted Performance

Risk-Return Positioning

PBR and SHEL are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Sharpe Ratio (1Y)	2.33	1.51
Sortino Ratio (1Y)	3.64	2.22

Profitability

ROE (TTM)

Petrobras (PBR) at 30.27% sits in the top ROE quartile, while Shell (SHEL) at 14.34% is closer to the peer norm — stronger capital efficiency for PBR.

PBR

Energy industry group

30.27%

Max: 42.10%
PBR: 30.27%
Q3: 21.17%
Median: 11.24%
Q1: 1.52%
Min: -26.68%

SHEL

Energy industry group

14.34%

Max: 42.10%
Q3: 21.17%
SHEL: 14.34%
Median: 11.24%
Q1: 1.52%
Min: -26.68%

Petrobras (PBR) vs. Shell (SHEL): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Petrobras (PBR) at 24.32% retains a top-quartile share of revenue as profit, ahead of Shell (SHEL) at 8.76%, which keeps about the industry-typical share.

PBR

Energy industry group

24.32%

Max: 54.76%
PBR: 24.32%
Q3: 22.51%
Median: 8.64%
Q1: 0.63%
Min: -31.11%

SHEL

Energy industry group

8.76%

Max: 54.76%
Q3: 22.51%
SHEL: 8.76%
Median: 8.64%
Q1: 0.63%
Min: -31.11%

Petrobras (PBR) vs. Shell (SHEL): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Petrobras (PBR) at 44.68% operates in the top operating margin quartile, ahead of Shell (SHEL) at 16.69%, which runs around its industry’s norm.

PBR

Energy industry group

44.68%

Max: 83.65%
PBR: 44.68%
Q3: 43.89%
Median: 22.70%
Q1: 8.84%
Min: -9.47%

SHEL

Energy industry group

16.69%

Max: 83.65%
Q3: 43.89%
Median: 22.70%
SHEL: 16.69%
Q1: 8.84%
Min: -9.47%

Petrobras (PBR) vs. Shell (SHEL): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
ROE (TTM)	30.27%	14.34%
ROA (TTM)	10.07%	6.40%
Net Margin (TTM)	24.32%	8.76%
Operating Margin (TTM)	44.68%	16.69%
Gross Margin (TTM)	50.60%	26.09%

Growth

Revenue Growth

Both Petrobras (PBR) at -2.43% and Shell (SHEL) at -6.13% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Petrobras (PBR) vs. Shell (SHEL): A comparison of their Revenue Growth across different time periods.

EPS Growth

Petrobras (PBR) at 160.23% clears its industry range for EPS growth, a much stronger earnings trajectory than Shell (SHEL) at 18.58%, which is closer to a typical peer reading.

Petrobras (PBR) vs. Shell (SHEL): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Revenue Growth (YoY)	-2.43%	-6.13%
Revenue Growth (3Y CAGR)	-10.51%	-11.21%
EPS Growth (YoY)	160.23%	18.58%
EPS Growth (3Y CAGR)	-18.50%	-19.31%

Financial Strength

Current Ratio (MRQ)

Shell (SHEL) at 1.44 keeps current ratio within its industry’s typical mid-range, while Petrobras (PBR) at 0.85 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for PBR.

PBR

Energy industry group

0.85

Max: 4.12
Q3: 2.27
Median: 1.46
Q1: 0.90
PBR: 0.85
Min: 0.24

SHEL

Energy industry group

1.44

Max: 4.12
Q3: 2.27
Median: 1.46
SHEL: 1.44
Q1: 0.90
Min: 0.24

Petrobras (PBR) vs. Shell (SHEL): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Both Petrobras (PBR) at 0.76 and Shell (SHEL) at 0.40 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

PBR

Energy industry group

0.76

Max: 2.00
Q3: 0.98
PBR: 0.76
Median: 0.57
Q1: 0.29
Min: 0.00

SHEL

Energy industry group

0.40

Max: 2.00
Q3: 0.98
Median: 0.57
SHEL: 0.40
Q1: 0.29
Min: 0.00

Petrobras (PBR) vs. Shell (SHEL): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Current Ratio (MRQ)	0.85	1.44
Debt / Equity (MRQ)	0.76	0.40
Net Debt / EBITDA	1.29	0.72

Dividends

Dividend Yield (TTM)

Shell (SHEL) at 1.58% pays an industry-typical yield; Petrobras (PBR) at 17.48% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

PBR

Energy industry group

17.48%

PBR: 17.48%
Max: 8.64%
Q3: 3.61%
Median: 1.50%
Q1: 0.00%
Min: 0.00%

SHEL

Energy industry group

1.58%

Max: 8.64%
Q3: 3.61%
SHEL: 1.58%
Median: 1.50%
Q1: 0.00%
Min: 0.00%

Petrobras (PBR) vs. Shell (SHEL): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both Petrobras (PBR) at 28.94% and Shell (SHEL) at 32.71% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

PBR

Energy industry group

28.94%

Max: 123.08%
Q3: 52.72%
PBR: 28.94%
Median: 25.15%
Q1: 0.00%
Min: 0.00%

SHEL

Energy industry group

32.71%

Max: 123.08%
Q3: 52.72%
SHEL: 32.71%
Median: 25.15%
Q1: 0.00%
Min: 0.00%

Petrobras (PBR) vs. Shell (SHEL): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
Dividend Yield (TTM)	17.48%	1.58%
Dividend Payout Ratio (TTM)	28.94%	32.71%

Valuation

P/E Ratio (TTM)

Petrobras (PBR) at 5.29 sits in the cheaper P/E ratio quartile, while Shell (SHEL) at 10.64 is closer to its industry’s usual earnings multiple — a discount for PBR, though growth and earnings durability still matter.

PBR

Energy industry group

5.29

Max: 44.70
Q3: 24.18
Median: 14.73
Q1: 8.69
PBR: 5.29
Min: 2.20

SHEL

Energy industry group

10.64

Max: 44.70
Q3: 24.18
Median: 14.73
SHEL: 10.64
Q1: 8.69
Min: 2.20

Petrobras (PBR) vs. Shell (SHEL): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

Both Petrobras (PBR) at 0.25 and Shell (SHEL) at 0.92 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

PBR

Energy industry group

0.25

Max: 6.01
Q3: 3.07
Median: 1.82
Q1: 0.98
PBR: 0.25
Min: 0.00

SHEL

Energy industry group

0.92

Max: 6.01
Q3: 3.07
Median: 1.82
Q1: 0.98
SHEL: 0.92
Min: 0.00

Petrobras (PBR) vs. Shell (SHEL): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Petrobras (PBR) at 1.51 and Shell (SHEL) at 1.48 are valued close to their industries’ norm against book — neither stands out from peers.

PBR

Energy industry group

1.51

Max: 4.51
Q3: 2.58
Median: 1.72
PBR: 1.51
Q1: 1.20
Min: 0.01

SHEL

Energy industry group

1.48

Max: 4.51
Q3: 2.58
Median: 1.72
SHEL: 1.48
Q1: 1.20
Min: 0.01

Petrobras (PBR) vs. Shell (SHEL): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Petrobras (PBR) and Shell (SHEL)
Metric	PBR	SHEL
P/E Ratio (TTM)	5.29	10.64
P/S Ratio (TTM)	0.25	0.92
P/B Ratio (MRQ)	1.51	1.48
Free Cash Flow Yield (TTM)	67.55%	7.83%