PBR

Petróleo Brasileiro S.A. - Petrobras

Energy · $134.5B market cap

Share price

$21.65

close of Oct 3, 2026

Fair value

$11.69

Sticker Price

Payback Price

$4.68

buy price

Overpriced

PBR is Overpriced: at $21.65 it trades 85% above its fair value of $11.69. Its buy price (Payback Price) is $4.68, 78% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

Owner Earnings. Earnings grow slowly (under 7% a year), but cash flow is steady, so we value it on its cash flow instead of its earnings.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth5.6% a year✗

Equity per share growth-3.3% a year✗

Sales growth-0.9% a year✗

Free cash flow growth12.1% a year✓

Return on invested capital12.5%✓

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Superinvestors

1 of the investors we track holds PBR. In Q2 2026, 1 sold out. Who we track

Dodge & Cox Funds

Dodge & Cox Funds · as of Q2 2026

$485K

30,000 shares

Moves in Q2 2026

Sold out: Howard Marks

Insider activity

Since Jun 12, 2026: no open-market purchases and 1 other filing (stock awards, tax withholding and similar). Why purchases matter

Other filings

Melgarejo Fernando Sabbi

Chief Financial Officer · 2026-06-12

D-Return

$17K

About Petróleo Brasileiro S.A. - Petrobras

Brazilian energy giant Petróleo Brasileiro S.A. (Petrobras) is deeply involved in the global oil and gas industry, conducting exploration, production, and sales activities both within Brazil and internationally. The company's diverse operations are organized into four primary business segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Businesses…

Oil & Gas Integrated