Petroleo Brasileiro S.A. Petrobras Financials

PBR

FY2025 annual

Revenue $89.2B YoY not available

Net Income $19.7B YoY not available

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

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

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 2026-08-15

Petrobras turns reported profit into substantial operating cash, but short-term liquidity leans on ongoing cash generation rather than cash on hand.

In FY2025, operating cash flow was $36.0B versus net income of $19.7B. Depreciation of $15.1B explains most of that gap, so cash generation looks real rather than accrual-driven, but it also signals an asset-heavy base whose earnings are reduced by past investment before any new spending is considered.

The balance sheet is liability-led: the current ratio was 0.7x, and cash was only $6.5B. That means near-term obligations depend more on ongoing cash turnover and liability management than on a large liquidity buffer sitting idle.

Even with that tighter liquidity posture, operations funded the capital cycle: operating cash flow of $36.0B exceeded investing outflows of $15.6B. ROE of 26.0% versus ROA of 8.9% also shows shareholder returns are being lifted by leverage and liabilities, not by an asset-light operating model.

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

Revenue

$89.2B

Petroleo Brasileiro S.A. Petrobras generated $89.2B in revenue in fiscal year 2025.

Net Income

$19.7B

Petroleo Brasileiro S.A. Petrobras reported $19.7B in net income in fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$6.5B

Petroleo Brasileiro S.A. Petrobras held $6.5B in cash against $33.3B in long-term debt as of fiscal year 2025.

Shares Outstanding

7.44B

Petroleo Brasileiro S.A. Petrobras had 7.44B shares outstanding in fiscal year 2025.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

22.1%

Petroleo Brasileiro S.A. Petrobras's net profit margin was 22.1% in fiscal year 2025, showing the share of revenue converted to profit.

Return on Equity

26.0%

Petroleo Brasileiro S.A. Petrobras's ROE was 26.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

PBR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PBR quarterly income statement

Metric	FY25	FY10	FY09	FY08	FY07
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
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	Q2'12	Q1'12	Q4'11	Q3'11	Q2'11	Q1'11	Q4'10	Q3'10
Revenue	N/A	N/A	$41.1B	N/A	N/A	N/A	$34.6B	N/A
Cost of Revenue	N/A	N/A	$19.0B	N/A	N/A	N/A	$15.3B	N/A
R&D Expenses	N/A	N/A	$296.0M	N/A	N/A	N/A	$217.0M	N/A
SG&A Expenses	N/A	N/A	$2.3B	N/A	N/A	N/A	$2.1B	N/A
Operating Income	N/A	N/A	$7.4B	N/A	N/A	N/A	$6.3B	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	N/A	N/A	N/A	$1.6B	N/A
Net Income	N/A	N/A	$6.6B	N/A	N/A	N/A	$4.4B	N/A

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

PBR Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PBR quarterly balance sheet

Metric	FY25	FY10	FY09	FY08	FY07
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
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
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
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	Q2'12	Q1'12	Q4'11	Q3'11	Q2'11	Q1'11	Q4'10	Q3'10
Total Assets	$309.0B-11.9%	$350.7B+6.1%	$330.6B+7.1%	$308.7B+3.5%	$298.1B+41.6%	$210.6B+3.1%	$204.2B+2.0%	$200.3B
Current Assets	$64.8B-15.5%	$76.7B+4.2%	$73.6B+15.2%	$63.9B-3.2%	$66.0B+63.8%	$40.3B-4.2%	$42.0B-1.4%	$42.6B
Cash & Equivalents	$17.6B-18.7%	$21.7B-16.6%	$26.0B+47.4%	$17.6B-35.8%	$27.5B+111.6%	$13.0B-11.2%	$14.6B-9.6%	$16.2B
Inventory	$14.7B-10.7%	$16.4B+12.3%	$14.6B+23.1%	$11.9B-5.2%	$12.5B+15.5%	$10.9B-3.5%	$11.2B+1.0%	$11.1B
Accounts Receivable	$11.2B-8.2%	$12.2B+10.6%	$11.0B+4.3%	$10.6B-6.3%	$11.3B+22.3%	$9.2B0.0%	$9.2B+13.7%	$8.1B
Goodwill	$182.0M-8.1%	$198.0M+2.1%	$194.0M+1.0%	$192.0M+36.2%	$141.0M+3.7%	$136.0M-0.7%	$137.0M-1.4%	$139.0M
Total Liabilities	$134.8B-8.2%	$146.9B+5.0%	$139.9B+10.0%	$127.2B+4.8%	$121.3B+7.3%	$113.0B+3.8%	$108.9B+2.5%	$106.2B
Current Liabilities	$35.8B-5.9%	$38.1B+3.9%	$36.6B+9.2%	$33.6B-10.5%	$37.5B+8.1%	$34.7B+4.3%	$33.2B+7.3%	$31.0B
Long-Term Debt	$67.5B-4.3%	$70.5B+3.6%	$68.1B+12.6%	$60.5B+11.7%	$54.1B+7.2%	$50.5B+4.6%	$48.3B-1.6%	$49.0B
Total Equity	$174.2B-14.5%	$203.8B+6.9%	$190.6B+5.0%	$181.5B+2.6%	$176.8B+81.3%	$97.5B+2.3%	$95.3B+1.4%	$94.1B

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

PBR Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PBR quarterly cash flow statement

Metric	FY25	FY10	FY09	FY08	FY07
Operating Cash Flow	$36.0B	$28.5B+14.3%	$24.9B-11.7%	$28.2B+24.5%	$22.7B
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	Q2'12	Q1'12	Q4'11	Q3'11	Q2'11	Q1'11	Q4'10	Q3'10
Operating Cash Flow	$9.5B+1.1%	$9.4B+3.9%	$9.0B-8.5%	$9.9B+82.9%	$5.4B-30.6%	$7.8B+41.9%	$5.5B-20.9%	$6.9B
Capital Expenditures	$12.1B+23.3%	$9.8B-1.3%	$9.9B-15.1%	$11.7B-16.6%	$14.0B+45.8%	$9.6B-1.8%	$9.8B-9.3%	$10.8B
Free Cash Flow	-$2.6B-517.3%	-$421.0M+53.4%	-$903.0M+50.4%	-$1.8B+78.9%	-$8.6B-369.2%	-$1.8B+57.4%	-$4.3B-11.4%	-$3.9B
Investing Cash Flow	-$8.9B+25.0%	-$11.9B-68.8%	-$7.0B+66.2%	-$20.8B-0.4%	-$20.8B-78.9%	-$11.6B-17.9%	-$9.8B-2.5%	-$9.6B
Financing Cash Flow	-$2.2B-13.2%	-$2.0B-133.6%	$5.9B+308.9%	$1.4B-95.0%	$28.5B+1125.8%	$2.3B-25.7%	$3.1B+35.4%	$2.3B

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

PBR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

PBR quarterly financial ratios

Metric	FY25	FY10	FY09	FY08	FY07
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
FCF Margin	N/A	-11.0%-2.2pp	-8.8%-7.7pp	-1.1%-2.6pp	1.5%

Metric	Q2'12	Q1'12	Q4'11	Q3'11	Q2'11	Q1'11	Q4'10	Q3'10
Operating Margin	N/A	N/A	18.0%	N/A	N/A	N/A	18.2%	N/A
Net Margin	N/A	N/A	16.2%	N/A	N/A	N/A	12.6%	N/A
Return on Equity	N/A	N/A	3.5%	N/A	N/A	N/A	4.6%	N/A
Return on Assets	N/A	N/A	2.0%	N/A	N/A	N/A	2.1%	N/A
Current Ratio	1.81-0.2x	2.010.0x	2.01+0.1x	1.90+0.1x	1.76+0.6x	1.16-0.1x	1.27-0.1x	1.38
Debt-to-Equity	0.390.0x	0.350.0x	0.360.0x	0.330.0x	0.31-0.2x	0.520.0x	0.510.0x	0.52
FCF Margin	N/A	N/A	-2.2%	N/A	N/A	N/A	-12.4%	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.

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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 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.