PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) Financials

PBR

FY2025 annual

Revenue $89.2B YoY not available

Net Income $19.7B YoY not available

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $36.0B YoY not available

Market Cap $163.0B as of Oct 10, 2026

Price / Sales 1.8x on $89.2B revenue, FY2025

Price / Earnings 8.3x on $19.7B net income, FY2025

Price / Book 0.9x on $174.2B equity, Q2 FY2012

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Apr 8, 2026 Reported Apr 8, 2026 Currency USD FYE April

Newest figures come from the 20-F for FY2025, filed Apr 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PBR SEC filings page.

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) reported $89.2B in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PBR FY2025 2026-10-03

Petrobras converts reported earnings into cash, but short-term liquidity is tighter than its moderate debt ratio suggests.

The key tension is between cash generation and balance-sheet flexibility: operating cash flow was $36.0B against net income of $19.7B, yet the current ratio was only 0.7. Depreciation of $15.1B helps explain much of that earnings-to-cash gap, while the low current ratio indicates that cash generation does not automatically translate into abundant near-term coverage.

The cash-flow profile is stronger than accounting profit alone suggests, with operating cash flow exceeding net income and depreciation providing a major noncash bridge. That pattern points to a capital-intensive business in which asset consumption is substantial, even though the available figures do not report free cash flow.

The balance sheet combines moderate debt leverage with heavier overall obligations: debt-to-equity was 0.4x, while total liabilities of $146.4B stood against equity of $75.9B. A $8.1B dividend within a $17.4B financing cash outflow also shows that shareholder distributions were a meaningful financing use, though their coverage cannot be judged without reported free cash flow.

Financial Health Signals

Financial health score not available

PETROLEO BRASILEIRO S.A.-PETROBRAS does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

6/8

PETROLEO BRASILEIRO S.A.-PETROBRAS passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.83x

For every $1 of reported earnings, PETROLEO BRASILEIRO S.A.-PETROBRAS generates $1.83 in operating cash flow ($36.0B OCF vs $19.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q2 2012.

Cash & Balance Sheet

Free Cash Flow

-$2.6B

YoY+69.8%

QoQ-517.3%

PETROLEO BRASILEIRO S.A.-PETROBRAS recorded an outflow of $2.6B in free cash flow in Q2 2012, representing a cash shortfall after capex. This represents an increase of 69.8% from the same quarter a year earlier. Against the prior quarter it is down 517.3%.

Cash & Debt

$17.6B

YoY-35.8%

QoQ-18.7%

PETROLEO BRASILEIRO S.A.-PETROBRAS held $17.6B in cash against $67.5B in long-term debt as of Q2 2012.

Shares Outstanding

7.44B

YoY+46.7%

QoQ0.0%

PETROLEO BRASILEIRO S.A.-PETROBRAS had 7.44B shares outstanding in Q2 2012. This represents an increase of 46.7% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2012.

Margins & Returns

None of these metrics is reported for Q2 2012.

Capital Allocation

Capital Expenditures

$12.1B

YoY-13.8%

QoQ+23.3%

PETROLEO BRASILEIRO S.A.-PETROBRAS invested $12.1B in capex in Q2 2012, funding long-term assets and infrastructure. This represents a decrease of 13.8% from the same quarter a year earlier. Against the prior quarter it is up 23.3%.

R&D Spending

Not reported for Q2 2012.

Share Buybacks

Not reported for Q2 2012.

PBR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PBR quarterly income statement

Metric	FY2520-F	FY1010-K	FY0910-K	FY0810-K	FY0710-K
Revenue	$89.2B	$150.9B+30.2%	$115.9B-20.9%	$146.5B+30.3%	$112.4B
Cost of Revenue	N/A	$70.7B+43.5%	$49.3B-32.4%	$72.9B+46.3%	$49.8B
R&D Expenses	N/A	$993.0M+45.8%	$681.0M-27.6%	$941.0M+6.8%	$881.0M
SG&A Expenses	N/A	$9.0B+27.9%	$7.0B-5.5%	$7.4B+18.9%	$6.3B
Operating Income	N/A	$24.2B+10.5%	$21.9B-13.5%	$25.3B+23.7%	$20.5B
EBITDA	N/A	$32.7B+12.4%	$29.1B-6.9%	$31.2B+20.1%	$26.0B
Interest Expense	N/A	$869.0M	N/A	N/A	N/A
Income Tax	$7.1B	$6.4B+21.3%	$5.2B-43.4%	$9.3B+57.3%	$5.9B
Net Income	$19.7B	$19.5B+15.8%	$16.8B-5.1%	$17.7B+32.2%	$13.4B

Metric	Q2'1210-Q	Q1'1210-Q	Q4'1110-K	Q3'1110-Q	Q2'1110-Q	Q1'1110-Q	Q4'1010-K	Q3'1010-K
Revenue	N/A	N/A	$41.1B+18.8%	N/A	N/A	N/A	$34.6B+51.2%	N/A
Cost of Revenue	N/A	N/A	$19.0B+24.7%	N/A	N/A	N/A	$15.3B+52.3%	N/A
R&D Expenses	N/A	N/A	$296.0M+36.4%	N/A	N/A	N/A	$217.0M+48.6%	N/A
SG&A Expenses	N/A	N/A	$2.3B+13.2%	N/A	N/A	N/A	$2.1B+42.5%	N/A
Operating Income	N/A	N/A	$7.4B+17.3%	N/A	N/A	N/A	$6.3B+48.0%	N/A
EBITDA	N/A	N/A	$9.7B+15.9%	N/A	N/A	N/A	$8.3B+49.4%	N/A
Interest Expense	N/A	N/A	$894.0M	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	$2.0B+31.3%	N/A	N/A	N/A	$1.6B+20.3%	N/A
Net Income	N/A	N/A	$6.6B+52.2%	N/A	N/A	N/A	$4.4B+58.8%	N/A

Not reported in any period shown, so not listed: Gross Profit, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

PBR Balance Sheet

PBR quarterly balance sheet

Metric	FY2520-F	FY1010-K	FY0910-K	FY0810-K	FY0710-K
Total Assets	$222.3B	$308.7B+54.1%	$200.3B+59.3%	$125.7B	N/A
Current Assets	$25.4B	$63.9B+49.8%	$42.6B+59.4%	$26.8B	N/A
Cash & Equivalents	$6.5B	$17.6B+9.1%	$16.2B+148.8%	$6.5B-7.0%	$7.0B
Short-Term Investments	N/A	$15.6B+21583.3%	$72.0M-41.9%	$124.0M	$0
Inventory	$8.2B	$11.9B+6.8%	$11.1B+39.3%	$8.0B	N/A
Accounts Receivable	$4.6B	$10.6B+30.3%	$8.1B+22.7%	$6.6B	N/A
Long-Term Investments	N/A	$3.1B+16.5%	$2.7B+53.0%	$1.7B	$0
Goodwill	$2.5B	$192.0M+38.1%	$139.0M+17.8%	$118.0M	N/A
Total Liabilities	$146.4B	$127.2B+19.8%	$106.2B+68.3%	$63.1B	N/A
Current Liabilities	$36.1B	$33.6B+8.4%	$31.0B+25.1%	$24.8B	N/A
Non-Current Liabilities	$110.4B	$91.7B+24.2%	$73.9B+92.6%	$38.4B	N/A
Long-Term Debt	$33.3B	$60.5B+23.3%	$49.0B+137.6%	$20.6B	N/A
Total Equity	$75.9B	$181.5B+93.0%	$94.1B+50.3%	$62.6B-7.3%	$67.5B

Metric	Q2'1210-Q	Q1'1210-Q	Q4'1110-K	Q3'1110-Q	Q2'1110-Q	Q1'1110-Q	Q4'1010-K	Q3'1010-K
Total Assets	$309.0B+3.6%	$350.7B+66.5%	$330.6B+61.9%	$308.7B+54.1%	$298.1B	$210.6B	$204.2B	$200.3B+59.3%
Current Assets	$64.8B-1.8%	$76.7B+90.5%	$73.6B+75.1%	$63.9B+49.8%	$66.0B	$40.3B	$42.0B	$42.6B+59.4%
Cash & Equivalents	$17.6B-35.8%	$21.7B+67.2%	$26.0B+77.9%	$17.6B+9.1%	$27.5B+65.4%	$13.0B+166.4%	$14.6B+124.9%	$16.2B+148.8%
Short-Term Investments	$11.5B+69.9%	$16.0B+3782.3%	$12.3B+8493.0%	$15.6B+21583.3%	$6.8B	$412.0M	$143.0M	$72.0M-41.9%
Inventory	$14.7B+17.1%	$16.4B+51.4%	$14.6B+30.2%	$11.9B+6.8%	$12.5B	$10.9B	$11.2B	$11.1B+39.3%
Accounts Receivable	$11.2B-0.7%	$12.2B+32.2%	$11.0B+19.5%	$10.6B+30.3%	$11.3B	$9.2B	$9.2B	$8.1B+22.7%
Long-Term Investments	$2.9B+1.1%	$3.3B+29.2%	$3.1B+18.4%	$3.1B+16.5%	$2.9B	$2.6B	$2.6B	$2.7B+53.0%
Goodwill	$182.0M+29.1%	$198.0M+45.6%	$194.0M+41.6%	$192.0M+38.1%	$141.0M	$136.0M	$137.0M	$139.0M+17.8%
Total Liabilities	$134.8B+11.1%	$146.9B+29.9%	$139.9B+28.5%	$127.2B+19.8%	$121.3B	$113.0B	$108.9B	$106.2B+68.3%
Current Liabilities	$35.8B-4.4%	$38.1B+9.9%	$36.6B+10.3%	$33.6B+8.4%	$37.5B	$34.7B	$33.2B	$31.0B+25.1%
Non-Current Liabilities	$97.7B+16.5%	$106.7B+38.6%	$101.4B+36.7%	$91.7B+24.2%	$83.8B	$77.0B	$74.2B	$73.9B+92.6%
Long-Term Debt	$67.5B+24.7%	$70.5B+39.7%	$68.1B+41.1%	$60.5B+23.3%	$54.1B	$50.5B	$48.3B	$49.0B+137.6%
Total Equity	$174.2B-1.5%	$203.8B+109.0%	$190.6B+99.9%	$181.5B+93.0%	$176.8B+91.6%	$97.5B	$95.3B+17.8%	$94.1B+50.3%

Not reported in any period shown, so not listed: Retained Earnings.

PBR Cash Flow Statement

PBR quarterly cash flow statement

Metric	FY2520-F	FY1010-K	FY0910-K	FY0810-K	FY0710-K
Operating Cash Flow	$36.0B	$28.5B+14.3%	$24.9B-11.7%	$28.2B+24.5%	$22.7B
Depreciation & Amortization	$15.1B	$8.5B+18.4%	$7.2B+21.3%	$5.9B+6.9%	$5.5B
Capital Expenditures	N/A	$45.1B+28.3%	$35.1B+17.6%	$29.9B+42.4%	$21.0B
Free Cash Flow	N/A	-$16.6B-62.4%	-$10.2B-517.5%	-$1.7B-198.1%	$1.7B
Investing Cash Flow	-$15.6B	-$63.0B-79.4%	-$35.1B-19.2%	-$29.5B-22.6%	-$24.0B
Financing Cash Flow	-$17.4B	$35.4B+109.0%	$16.9B+509.6%	$2.8B+146.4%	-$6.0B
Dividends Paid	$8.1B	N/A	N/A	N/A	N/A

Metric	Q2'1210-Q	Q1'1210-Q	Q4'1110-K	Q3'1110-Q	Q2'1110-Q	Q1'1110-Q	Q4'1010-K	Q3'1010-K
Operating Cash Flow	$9.5B+75.6%	$9.4B+20.6%	$9.0B+64.8%	$9.9B+42.6%	$5.4B-34.5%	$7.8B+100.8%	$5.5B-7.3%	$6.9B
Depreciation & Amortization	$2.6B+24.6%	$2.5B+17.7%	$2.3B+11.4%	$2.3B+0.7%	$2.1B+3.2%	$2.1B+33.6%	$2.0B+53.8%	$2.3B
Capital Expenditures	$12.1B-13.8%	$9.8B+1.9%	$9.9B+1.4%	$11.7B+8.3%	$14.0B+39.0%	$9.6B+20.9%	$9.8B+54.5%	$10.8B
Free Cash Flow	-$2.6B+69.8%	-$421.0M+77.1%	-$903.0M+79.0%	-$1.8B+52.9%	-$8.6B-367.2%	-$1.8B+54.9%	-$4.3B-907.0%	-$3.9B
Investing Cash Flow	-$8.9B+57.1%	-$11.9B-2.4%	-$7.0B+28.5%	-$20.8B-117.1%	-$20.8B-94.7%	-$11.6B-39.1%	-$9.8B-50.7%	-$9.6B
Financing Cash Flow	-$2.2B-107.8%	-$2.0B-184.8%	$5.9B+87.5%	$1.4B-37.9%	$28.5B+138.2%	$2.3B+396.8%	$3.1B+42.7%	$2.3B

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.

PBR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PBR quarterly financial ratios

Metric	FY2520-F	FY1010-K	FY0910-K	FY0810-K	FY0710-K
Operating Margin	N/A	16.0%-2.9pp	18.9%+1.6pp	17.3%-0.9pp	18.2%
Net Margin	22.1%	12.9%-1.6pp	14.5%+2.4pp	12.1%+0.2pp	11.9%
Return on Equity	26.0%	10.7%-7.2pp	17.9%-10.4pp	28.3%+8.5pp	19.9%
Return on Assets	8.9%	6.3%-2.1pp	8.4%-5.7pp	14.1%	N/A
Current Ratio	0.71	1.90+0.5x	1.38+0.3x	1.08	N/A
Debt-to-Equity	0.44	0.33-0.2x	0.52+0.2x	0.33	N/A
Asset Turnover	0.40	0.49-0.1x	0.58-0.6x	1.17	N/A
FCF Margin	N/A	-11.0%-2.2pp	-8.8%-7.7pp	-1.1%-2.6pp	1.5%

Metric	Q2'1210-Q	Q1'1210-Q	Q4'1110-K	Q3'1110-Q	Q2'1110-Q	Q1'1110-Q	Q4'1010-K	Q3'1010-K
Operating Margin	N/A	N/A	18.0%-0.2pp	N/A	N/A	N/A	18.2%-0.4pp	N/A
Net Margin	N/A	N/A	16.2%+3.6pp	N/A	N/A	N/A	12.6%+0.6pp	N/A
Return on Equity	N/A	N/A	3.5%-1.1pp	N/A	N/A	N/A	4.6%+1.2pp	N/A
Return on Assets	N/A	N/A	2.0%-0.1pp	N/A	N/A	N/A	2.1%	N/A
Current Ratio	1.810.0x	2.01+0.9x	2.01+0.7x	1.90+0.5x	1.76	1.16	1.27	1.38+0.3x
Debt-to-Equity	0.39+0.1x	0.35-0.2x	0.36-0.1x	0.33-0.2x	0.31	0.52	0.51	0.52+0.2x
Asset Turnover	N/A	N/A	0.120.0x	N/A	N/A	N/A	0.17	N/A
FCF Margin	N/A	N/A	-2.2%+10.3pp	N/A	N/A	N/A	-12.4%-10.6pp	N/A

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
PETROLEO BRASILEIRO S.A.-PETROBRAS PBR	FY2025	$89.2B	$19.7B	22.1%	$163.0B	—
BP p.l.c. BP	FY2025	$192.5B	$1.3B	0.7%	$119.1B	26/100
Equinor ASA EQNR	FY2025	$106.5B	$5.1B	4.8%	$101.9B	40/100
TotalEnergies SE TTE	FY2025	$201.2B	$13.4B	6.6%	$190.1B	22/100

Where PETROLEO BRASILEIRO S.A.-PETROBRAS Ranks

Frequently Asked Questions

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's annual revenue?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) reported $89.2B in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is PETROLEO BRASILEIRO S.A.-PETROBRAS profitable?

Yes, PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) reported a net income of $19.7B in fiscal year 2025, with a net profit margin of 22.1%.

How much debt does PETROLEO BRASILEIRO S.A.-PETROBRAS have?

As of fiscal year 2025, PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had $6.5B in cash and equivalents against $33.3B in long-term debt.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's net profit margin?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had a net profit margin of 22.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's return on equity (ROE)?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) has a return on equity of 26.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's operating cash flow?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) generated $36.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are PETROLEO BRASILEIRO S.A.-PETROBRAS's total assets?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had $222.3B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does PETROLEO BRASILEIRO S.A.-PETROBRAS have outstanding?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had 7.44B shares outstanding as of fiscal year 2025.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's current ratio?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's debt-to-equity ratio?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's return on assets (ROA)?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) had a return on assets of 8.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's P/E ratio?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) trades at 8.3x earnings, its market capitalization divided by net income of $19.7B net income, FY2025. The market capitalization is $163.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's price-to-sales ratio?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) trades at 1.8x sales, its market capitalization divided by revenue of $89.2B revenue, FY2025. The market capitalization is $163.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PETROLEO BRASILEIRO S.A.-PETROBRAS's Piotroski F-Score?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are PETROLEO BRASILEIRO S.A.-PETROBRAS's earnings high quality?

PETROLEO BRASILEIRO S.A.-PETROBRAS (PBR) has an earnings quality ratio of 1.83x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.