PBR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $21.65
P/E 7.8
EPS $1.52
Revenue $89.19B
ROE 29.2%
52W Range $11–$22

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04
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Stock splits 2
Ex-date Split Type
May 8, 2008 2-for-1 Forward
July 2, 2007 2-for-1 Forward

About Petroleo Brasileiro S.A. Petrobras ADS Company overview from Wikipedia

05 · wikidata

Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras (Portuguese pronunciation: [ˌpɛtɾoˈbɾas, pet-]), is a Brazilian majority state-owned multinational corporation in the petroleum industry, which is headquartered in Rio de Janeiro. The company's name translates to Brazilian Petroleum Corporation.

The company was ranked #71 in the 2023 Fortune Global 500 list. In the 2023 Forbes Global 2000, Petrobras was ranked as the 58th-largest public company in the world.

History

Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan "The Oil is Ours" (Portuguese: "O petróleo é nosso"). It was given a legal monopoly in Brazil. In 1953, Brazil produced only 2,700 barrels of oil per day. In 1961, the company's REDUC refinery began operations near Rio de Janeiro, and in 1963, its Cenpes research center opened in Rio de Janeiro; it remains one of the world's largest centers dedicated to energy research. In 1968, the company established Petrobras Quimica S.A ("Petroquisa"), a subsidiary focused on petrochemicals and the conversion of naphtha into ethene.

Petrobras had begun processing oil shale in 1953, developing the Petrosix technology for extracting oil from oil shale. It began using an industrial-size retort to process shale in the 1990s. In 2006, Petrobras said that their industrial retort could process 260 tonnes/hour of oil shale.

In 1994, Petrobras put the Petrobras 36, the world's largest oil platform, into service. It sank after an explosion in 2001 and was a complete loss. In 1997, the government approved Law N.9.478, which broke Petrobras's monopoly and allowed competition in Brazil's oilfields, and also created the national petroleum agency, Agência Nacional do Petróleo (ANP), responsible for the regulation and supervision of the petroleum industry, and the National Council of Energy Policies, a public agency responsible for developing public energy policy. In 1999, the National Petroleum Agency signed agreements with other companies, ending the company's monopoly.

In 2000, Petrobras set a world record for oil exploration in deep waters, reaching a depth of 1,877 metres (6,158 ft) below sea level. In 2002, Petrobras acquired the Argentine company Perez Companc Energía (PECOM Energía S.A.) from the Perez Companc Family Group and its family foundation for $1.18 billion. This acquisition included assets in Argentina, Brazil, Venezuela, Bolivia, Peru, and Ecuador, 1.1 billion barrels of crude oil reserves, and production of 181 thousand barrels of oil equivalent (1,110,000 GJ) per day.

In 2005, Petrobras announced a joint venture with Nippon Alcohol Hanbai KK to sell Brazilian ethanol to Japan, called Brazil-Japan Ethanol. On 21 April 2006, the company started production on the P-50 oil platform in the Albacora-Leste oil field at Campos Basin, which made Brazil self-sufficient in oil production. During the administration of the Workers' Party in the 2010s, Petrobras spent an estimated $40 billion subsidizing motor fuels, causing it to become the world's most indebted oil company. By November 2015, the company had accumulated $128 billion in debt, 84% of it denominated in foreign currencies.

In 2022, under the administration of Caio Paes de Andrade, Petrobras achieved its highest net profit in history, totaling R$188.3 billion, distributing R$215.7 billion in dividends, making it the second largest dividend payer in the world.

In summer 2023, Petrobras entered into a 5-year agreement with Weatherford International for providing offshore intervention services. As part of the cooperation, Weatherwood would also provide digitalization of production using the Centro well construction optimization platform.

Also in 2023, Petrobras announced the resumption of construction of a new production line at the Abreu e Lima refinery in Ipojuca, Pernambuco. The initial investment in the refinery is estimated at $18.5 billion, and the refinery will refine heavy crude oil from the Pre-Salt region.

Operations

Business areas

The company operates in six business areas, listed in order of revenue:

Refining, transportation and marketing – refining, logistics, transportation, trading operations, oil products and crude oil exports and imports and petrochemical investments in Brazil

Exploration and production – crude oil, natural gas liquids (NGL) and natural gas exploration, development and production in Brazil

Distribution – distribution of oil products, ethanol, biodiesel and natural gas to wholesalers and through the Petrobras Distribuidora S.A. retail network in Brazil

Gas and power – transportation and trading of natural gas and LNG, and generation and trading of electric power, and the fertilizer business

International – exploration and production of oil and gas, refining, transportation and marketing, distribution and gas and power operations outside of Brazil

Biofuels – production of biodiesel and its co-products and ethanol-related activities such as equity investments, production and trading of ethanol, sugar and the excess electricity generated from sugarcane bagasse

Production and reserves

Petrobras controls significant oil and energy assets in 16 countries in Africa, North America, South America, Europe, and Asia.

However, Brazil represented 92% of Petrobras' worldwide production in 2014 and accounted for 97% of Petrobras' worldwide reserves on 31 December 2014, when the company had 8,112.8 million barrels of oil equivalent (4.9633×1010 GJ) of proved developed reserves and 4,599.7 million barrels of oil equivalent (2.8140×1010 GJ) of proved undeveloped reserves in Brazil. Of these, 62.7% were located in the offshore Campos Basin. The largest growth prospect for the company is the Tupi oil field in the Santos Basin.

In 2015, the company produced 2.284 million barrels of oil equivalent (13,970,000 GJ) per day, of which 89% was petroleum and 11% was natural gas.

International investments

Reserves held outside of Brazil accounted for 8.4% of production in 2014. The majority of these reserves are in South America; the company has assets in Bolivia and Colombia.

The company also owns exploration blocks in the Gulf of Mexico, in a joint-venture with Murphy Oil.

Refineries

Northeast Region

RNEST – Abreu e Lima Refinery – Suape (Pernambuco) – 230,000 bpd

LUBNOR – Lubrificantes e Derivados de Petróleo do Nordeste – Fortaleza (Ceará) – 8,000 bpd

Southeast Region

REGAP – Gabriel Passos Refinery – Betim (Minas Gerais) – 150,000 bpd

REPLAN – Refinery of Paulínia – Paulínia (São Paulo) – 415,000 bpd

REVAP – Henrique Lages Refinery – São José dos Campos (São Paulo) – 252,000 bpd

RPBC – Presidente Bernardes Refinery - Cubatão (São Paulo) – 178,000 bpd

RECAP – Refinery of Capuava – Mauá (São Paulo) – 53,000 bpd

REDUC – Refinery of Duque de Caxias – Duque de Caxias (Rio de Janeiro) – 239,000 bpd

COMPERJ (Renamed GASLUB) – Itaboraí (Rio de Janeiro) – UNDER CONSTRUCTION

South Region

REPAR – Presidente Getúlio Vargas Refinery – Araucária (Paraná) – 207,563 bpd

REFAP – Alberto Pasqualini Refinery – Canoas (Rio Grande do Sul) – 201,280 bpd

Production

In 1961, Petrobras geologist Walter K. Link published Link's memorandum, which implied that the company was better off exploring offshore instead of onshore. In 1963, Petrobras discovered the Recôncavo Baiano and Carmópolis oil fields.

The company's growth was halted by the 1973 oil crisis. The entire country was affected, and the "Brazilian miracle", a period when annual GDP growth exceeded 10%, ended. Petrobras nearly went bankrupt. In 1974, the company discovered an oil field in the Campos Basin. This discovery boosted its finances and helped it restructure nationwide. In 1975, the Brazilian Government temporarily allowed foreign operators into Brazil, and Petrobras signed exploration contracts with foreign companies for oilfields in Brazil.

The company was affected by the 1979 energy crisis, although not nearly as badly as in 1973.

In 1997, Petrobras reached the production milestone of 1 million barrels (160,000 m3) per day. The company also executed agreements with other Latin American governments and began operations outside Brazil.

In 2003, on its 50th anniversary, Petrobras surpassed 2 million barrels of oil equivalent (12,000,000 GJ) of daily production. On 1 May 2006, after the Bolivian gas conflict, Bolivia's president Evo Morales announced the nationalization of all gas and oil fields in the country and ordered the occupation of all fields by the Bolivian Army. On 4 May 2006, Petrobras cancelled a major future investment plan in Bolivia as a result. The Bolivian government demanded an increase in royalty payments from foreign petroleum companies to 82%, but eventually settled for a 50% royalty interest.

In 2007, Petrobras inaugurated the Petrobras 52 Oil Platform. The 52 is the biggest Brazilian oil platform and the third-biggest in the world.

In 2007 and 2008, Petrobras made several major oil discoveries including the Tupi oil field (formerly known as the Lula oil field), the Jupiter field, and the Sugar Loaf field, all in the Santos Basin, 300 km off the coast of Rio de Janeiro. The oil fields were discovered by partnerships that include Petrobras, Royal Dutch Shell, and Galp Energia. However, estimates for the reserves of these new fields varied widely.

The P-51 Platform, the first semisubmersible platform built entirely in Brazil, capable of producing up to 180,000 barrels of oil per day, started production in the Campos Basin in January 2009, and in February 2009, China agreed to loan Petrobras US$10 billion in exchange for a supply of 60,000–100,000 barrels of oil per day to a subsidiary of Sinopec and 40,000-60,000 barrels of oil per day to PetroChina. In August 2009, Petrobras acquired ExxonMobil's Esso assets in Chile for US$400 million.

In September 2010, Petrobras completed a US$70 billion share offering, the largest share offering in history, to be used to develop newly discovered oil fields. Giovanni Biscardi and Machado Meyer represented Petrobras. Biscardi brought his Brazilian corporate practice to Greenberg Traurig in January 2020.

In 2012, Petrobras surrendered permits to explore offshore in New Zealand. Petrobras did not provide a reason but the New Zealand Prime Minister John Key said the decision was "not a reflection on the capacity to undertake deep-sea drilling or the prospect of activity of that area". He attributed the decision to a regrouping by the company after some setbacks.

In July 2013, a worker strike action shut down production at several of the company's oil platforms. In September 2013, Petrobras sold eleven onshore exploration and production blocks in Colombia to Perenco for US$380 million.

In September 2013 Organizações Globo reported on national television that the US National Security Agency (NSA) had been spying on Petrobras. The information was based on a top secret NSA file provided to The Guardian journalist Glenn Greenwald by Edward Snowden as part of the Global surveillance disclosures. The file showed that Petrobras was one of several targets for the NSA's Blackpearl program, which extricates data from private networks. Petrobras announced that it was investing R$21 billion over five years to improve its data security.

In 2014, the company sold its assets in Peru to PetroChina for US$2.6 billion. Also in 2014, Petrobras set a new company record for average daily production of 2.863 million barrels of oil equivalent (17,520,000 GJ).

In January 2017, the company concluded the sale of 100 percent of Petrobras Chile Distribuición Ltda (PCD) to the Southern Cross Group. The transaction included the licensing of the Petrobras and Lubrax brands for 8 years. To operate the assets acquired from Petrobras in Chile, Southern Cross created Esmax, a company that acts as a Petrobras licensee in the fuel and lubricant distribution segments. In March 2019, the company concluded the sale of 100 percent of Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras Paraguay Operaciones y Logística SRL (PPOL) and Petrobras Paraguay Gas SRL (PPG) to the Grupo Copetrol, through its subsidiary Paraguay Energy. The agreement provides for the licensing for the exclusive use of the Petrobras brand by Nextar (the successor of Petrobras Paraguay Operaciones y Logística SRL) at that country's service stations, for the initial term of five years. In February 2021, the company concluded the sale of entire stake in Petrobras Uruguay Distribución S.A. (PUDSA), by indirect subsidiary (Petrobras Uruguay Sociedad Anónima de Inversión -PUSAI), in Uruguay, to Mauruguay S.A., an indirect wholly owned subsidiary of Disa Corporación Petrolífera S.A. (DISA).

In January 2020, Petroleo Brasileiro stated that it ended all of its business in Africa after completing the sale of a 50% stake in Petrobras Oil & Gas BV.

Corporate affairs

Ownership

The Brazilian government directly owns 54% of Petrobras' common shares with voting rights, while the Brazilian Development Bank and Brazil's Sovereign Wealth Fund (Fundo Soberano) each control 5%, bringing the State's direct and indirect ownership to 64%. The privately held shares are traded on B3, where they are part of the Ibovespa index. It is also listed in the New York Stock Exchange in the form of American depositary receipts and in the Madrid Stock Exchange.

Business trends

The key trends for Petrobras are (as of the financial year ending 31 December):

Social responsibility

Petrobras is a major supporter of the arts in Brazil.

Operation Car Wash and related protests in Brazil

Operation Car Wash (Portuguese: Operação Lava Jato) was a criminal investigation by the Federal Police of Brazil's Curitiba branch. Originally a money laundering investigation, it expanded to cover allegations of corruption at Petrobras, where executives allegedly accepted bribes in return for awarding contracts to construction firms at inflated prices. The aim of the investigation was to ascertain the extent of a money laundering scheme, estimated by the Regional Superintendent of the Federal Police of Paraná State in 2015 at R$6.4–42.8 billion (US$2–13 billion), largely through the embezzlement of Petrobras funds.

The authorities issued over a thousand warrants against business figures and politicians. It also led to a wave of arrests. Fernando Soares, also known as "Fernando Baiano," a businessman and lobbyist, was allegedly the connection between major Brazilian construction firms and the government formed by the Workers’ Party(PT) and Brazilian Democratic Movement (PMDB). Between 2014 and February 2016, the Federal Public Prosecutor's Office (Portuguese: Ministério Público da União) filed 37 criminal charges against 179 people, mostly politicians and businessmen. Former President Luiz Inácio Lula da Silva and then President Dilma Rousseff were also implicated.

On 8 March 2016, Marcelo Odebrecht, CEO of Odebrecht and grandson of the company's founder, was sentenced to 19 years in prison after being convicted of paying more than $30 million in bribes to Petrobras executives. Eduardo Cunha, president of the Chamber of Deputies from 2015 to 2016, was convicted of taking approximately $40 million in bribes and hiding funds in secret bank accounts and sentenced to 15 years in prison.

Protests broke out calling for the resignation or impeachment of President Dilma Rousseff. The most widespread of these occurred on 13 March 2016 in over 300 municipalities. Police estimates gave about 3.5 million protestors throughout the country. Some of the protests were in areas previously thought of as strongholds of the Workers Party, of which Rousseff was the leader.

The Bill and Melinda Gates Foundation sued Petrobras and its auditors, PriceWaterhouseCoopers as a result of the corruption scandal. In January 2018, Petrobras agreed to pay $2.95 billion to settle a U.S. class action corruption lawsuit. Later in September 2018, Petrobras agreed to pay $853.2 million to settle with Brazilian and U.S. authorities. Petrobras settled with shareholder Vanguard Group in June 2017.

On 1 February 2023 the company said it received R $132 million, as victim-beneficiary of the award-winning collaboration agreement signed between the Federal Prosecutor's Office and Rogério Santos de Araújo, before the Supreme Court.

Environmental record

Petrobras's website notes several initiatives to preserve the environment. These include efforts to support both ocean and forest ecosystems. Most notably, Petrobras has sponsored population studies and conservation efforts for humpback whales in northeast Brazil. The company's efforts helped to rebuild Brazil's humpback whale populations from 2,000 in the mid-nineties to over 9,000 in 2008.

Petrobras subscribes to the United Nations Global Compact, a voluntary agreement regarding human rights, working conditions, corruption, and the environment.

In 2008, the Spanish consultancy firm Management and Excellence named Petrobras the world's most sustainable oil company.

Oil spills

Sponsorships and namesakes

In the Speed Racer live-action movie, one of the cars featured is the "Green Energy", a biodiesel-fueled racing car sponsored by Petrobras.

Petrobras sponsored the Brazilian Série A from 2009 to 2012.

Petrobras was a secondary sponsor for the AT&T Williams F1 Team from 1999 to 2008 (2000 to 2006 was as only fuel supplier due to Williams had a Castrol lubrication partnership and later increased role to lubricant supplier from 2007 to 2008) and signed again with Williams F1 from 2014 onwards. From 2018, Petrobras left Williams and sponsored McLaren, but cancelled their sponsorship at the end of 2019.

Petrobras sponsored the Clube de Regatas do Flamengo in Brazil from 1984 to 2009, Racing Club de Avellaneda from 2002 to 2006, Club Atlético River Plate in Argentina from 2006 to 2012 and Universidad de Chile in Chile from 2019 to 2021.

The sauropod dinosaur Petrobrasaurus is named after the company.

Petrobras sponsored the game Copa Petrobras de Marcas, an unfinished version of Stock Car Extreme by Reiza Studios, the creators of the Automobilista series.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorEnergy industryEnergy employees43,199 countryBR

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$89.19B
2016-12-31 → 2025-12-31
EPS$1.52
2021-12-31 → 2025-12-31
Free Cash Flow·
2017-12-31 → 2018-12-31
Net margin22.0%
2017-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend PBR 5Y avg Peer Median Verdict
P/E 7.85Y avg ≈9.9 ≈9.9 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Annualized Payout≈$2.12Paid quarterly
Ex-dateAmountCurrencyYield
Aug 25, 2026$0.53USD≈4.5%
Jun 3, 2026$0.14USD≈4.6%
Apr 24, 2026$0.12USD≈1.8%
Aug 25, 2025$0.25USD≈15.0%
Jun 4, 2025$0.32USD≈17.7%
Apr 22, 2025$0.26USD≈27.3%
Dec 27, 2024$0.46USD≈22.8%
Dec 13, 2024$0.53USD≈17.7%
Aug 23, 2024$0.39USD≈16.8%
Jun 13, 2024$0.38USD≈18.2%
May 3, 2024$0.67USD≈17.6%
Apr 26, 2024$0.44USD≈19.8%
Nov 22, 2023$0.55USD≈19.2%
Aug 22, 2023$0.47USD≈27.3%
Jun 13, 2023$0.76USD≈43.8%
Apr 28, 2023$1.16USD≈61.3%
Nov 22, 2022$1.30USD≈64.7%
Aug 12, 2022$2.59USD≈51.9%
May 24, 2022$1.47USD≈31.5%
Apr 14, 2022$1.22USD≈22.4%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 13.1%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 $4.33 $3.65 18.5%
March 31, 2026 $1.85 $2.15 -14.1%
Dec. 31, 2025 $1.97 $1.62 21.9%
Sept. 30, 2025 $2.23 $1.86 19.8%
June 30, 2025 $1.81 $1.64 10.5%
March 31, 2025 $1.97 $1.62 21.9%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 16
Metric Trend 202520242023202220212020201920182017201620102009
Revenue $89.19B$91.42B$102.41B$124.47B$83.97B$53.68B$76.59B$84.64B$77.88B$81.41B$150.85B$115.89B
Cost of Revenue $46.74B$45.44B$48.44B$59.49B$43.16B$29.20B$45.73B$52.18B$51.20B$55.42B$70.69B$49.25B
Gross Profit $42.46B$45.97B$53.97B$64.99B$40.80B$24.49B$30.86B$32.45B$26.69B$25.99B··
R&D Expense $864M$789M$726M$792M$563M$355M$-576M$641M$572M$523M$993M$681M
SG&A Expense $1.94B$1.84B$1.59B$1.33B$1.18B$1.09B$-2.12B$2.24B$2.66B$3.32B$8.98B$7.02B
Operating Expenses ··········$95.89B$70.00B
Operating Income $26.11B$26.88B$38.03B$57.11B$37.58B$10.06B$20.61B$16.79B$10.55B$4.31B$24.16B$21.87B
Interest Expense $4.31B$5.96B$3.92B$3.50B$5.15B$6.00B$-7.09B$5.67B$7.01B$6.96B··
Interest Income $1.49B$1.95B$2.17B$1.83B$821M$551M$1.33B$2.38B$928M$1.05B··
Other Non-op ··········$-1.64B$-1.29B
Pretax Income $26.80B$11.14B$35.40B$53.52B$28.23B$-226M$12.00B$10.83B$1.51B$-3.67B$25.83B$22.06B
Income Tax $7.08B$3.54B$10.40B$16.77B$8.24B$-1.17B$4.20B$4.26B$1.70B$-684M$6.36B$5.24B
Net Income $19.63B$7.53B$24.88B$36.62B$19.88B$1.14B$10.15B$7.17B$-91M$-4.84B$19.48B$16.82B
EPS (Basic) $1.52$0.58$1.91$2.81$1.52$0.09$0.78$0.55····
EPS (Diluted) $1.52$0.58$1.91$2.81$1.52·······
EBITDA $26.11B$26.88B$38.03B$57.11B$37.58B$10.06B$20.61B$29.46B$24.53B·$32.66B$29.06B
Balance Sheet 25
Metric Trend 202520242023202220212020201920182017201620102009
Cash & Equivalents $222M$136M$103M$216M$299M$552M$572M$863M$1.57B$591M$17.63B$16.17B
Short-term Investments ··········$15.61B$72M
Receivables $4.63B$3.57B$6.13B$5.01B$6.37B$4.73B$3.76B$5.75B$4.97B$4.77B$10.57B$8.12B
Inventory $8.21B$6.71B$7.68B$8.78B$7.25B$5.68B$8.19B$8.99B$8.49B$8.47B$11.89B$11.13B
Other Current Assets ··········$1.63B$1.44B
Current Assets $25.45B$21.84B$32.45B$31.25B$30.15B$27.39B$27.81B$37.06B$47.13B$44.77B$63.86B$42.64B
PP&E (Net) $168.04B$136.28B$153.42B$130.17B$125.33B$124.20B$159.26B$157.38B$176.65B$175.47B$218.57B$136.17B
PP&E (Gross) ··········$280.84B$188.94B
Accum. Depreciation ··········$-62.27B$-52.32B
Goodwill ··········$192M$139M
Other Non-current Assets ··········$1.58B$1.39B
Total Assets $222.34B$181.65B$217.07B$187.19B$174.35B$190.01B$229.74B$222.07B$251.37B$246.98B$308.68B$200.27B
Accounts Payable $7.44B$6.08B$4.81B$5.46B$5.48B$6.86B$5.60B$6.33B$5.77B$5.76B·$9.88B
Short-term Debt ··········$8.96B$8.43B
Current Liabilities $36.05B$31.46B$33.86B$31.38B$24.18B$26.23B$28.82B$25.05B$24.95B$24.90B$33.55B$30.96B
Capital Leases ··········$117M$203M
Deferred Tax ··········$12.70B$9.84B
Other Non-current Liabilities ··········$748M$553M
Total Liabilities $146.45B$122.30B$138.09B$117.36B$104.54B$130.13B$155.53B$148.89B$169.86B$169.43B··
Total Debt ··········$69.43B$48.15B
Common Stock ··········$63.91B$21.09B
Paid-in Capital ··········$-86M$707M
Retained Earnings ··$2.00B$1.68B····$87M···
Stockholders' Equity $75.56B$59.11B$78.58B$69.49B$69.41B$59.35B$73.32B$71.54B$79.80B$76.78B$181.49B$94.06B
Liabilities + Equity ··········$308.68B$200.27B
Cash Flow 13
Metric Trend 202520242023202220212020201920182017201620102009
D&A ·······$12.03B$13.31B$13.96B$8.51B$7.19B
Deferred Tax ··········$2.96B$860M
Other Non-cash ·······$7.15B$13.90B·$-2.45B$49M
Operating Cash Flow $36.05B$37.98B$43.21B$49.72B$37.79B$28.89B$25.60B$26.35B$27.11B$26.11B$28.50B$24.92B
CapEx ·······$12.02B$13.64B$14.09B$45.08B$35.13B
Investing Cash Flow $-15.64B$-13.37B$-7.96B$-432M$2.16B$-4.51B$-1.68B$-4.50B$-12.00B$-11.30B$-63.02B$-35.12B
Debt Issued ··········$20.19B$27.34B
Net Debt Issued ··········$10.29B$23.61B
Financing Cash Flow $-17.41B$-33.09B$-30.70B$-51.45B$-40.79B$-19.26B$-32.07B$-29.85B$-13.67B$-19.11B$35.39B$16.93B
Net Change in Cash ··········$861M$6.74B
Taxes Paid ··········$2.82B$4.93B
Free Cash Flow ·······$14.33B$13.47B·$-16.58B$-10.21B
Levered FCF ·······$6.30B$12.85B···
Profitability 8
Metric Trend 202520242023202220212020201920182017201620102009
Gross Margin 47.6%50.3%52.7%52.2%48.6%45.6%40.3%35.6%32.3%···
Operating Margin 29.3%29.4%37.1%45.9%44.8%18.8%26.9%18.2%12.6%·16.0%18.9%
Net Margin 22.0%8.2%24.3%29.4%23.7%2.1%13.2%7.5%-0.10%·12.9%14.5%
Pretax Margin 30.0%12.2%34.6%43.0%33.6%-0.42%15.7%12.7%2.2%·17.1%19.0%
EBITDA Margin 29.3%29.4%37.1%45.9%44.8%18.8%26.9%30.8%27.6%·21.6%25.1%
ROA 9.7%3.8%12.3%20.3%10.9%0.54%4.5%3.0%-0.04%·7.6%10.3%
ROE 29.2%10.9%33.6%52.7%30.9%1.7%14.0%9.5%-0.12%·14.1%21.5%
ROIC 25.4%31.0%34.2%56.4%38.3%-71.1%18.3%33.8%1.2%·7.3%11.7%
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017201620102009
Current Ratio 0.70.71.01.01.21.01.01.51.9·1.91.4
Quick Ratio 0.10.10.20.20.30.20.20.30.3·1.30.8
Debt / Equity ··········0.40.5
LT Debt / Equity ··········0.30.5
Interest Coverage 6.14.59.716.3-7.31.72.93.01.5···
Efficiency 3
Metric Trend 202520242023202220212020201920182017201620102009
Asset Turnover 0.40.50.50.70.50.30.30.40.4·0.60.7
Inventory Turnover 6.36.35.97.46.74.25.37.07.1·6.15.1
Receivables Turnover 21.818.818.421.915.112.616.118.018.2·16.115.7
Per Share 1
Metric Trend 202520242023202220212020201920182017201620102009
EPS (TTM) $1.52$0.58$1.91$2.81$1.52·······
Valuation (TTM) 4
Metric Trend 202520242023202220212020201920182017201620102009
Revenue TTM $89.19B$91.42B$102.41B$124.47B$83.97B$53.68B$76.59B$84.64B$77.88B·$150.85B$115.89B
Net Income TTM $19.63B$7.53B$24.88B$36.62B$19.88B$1.14B$10.15B$7.17B$-91M·$19.48B$16.82B
P/E 7.822.28.43.87.2·······
Earnings Yield 12.8%4.5%12.0%26.4%13.8%·······

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $89.19B $91.42B $102.41B $124.47B $83.97B
Gross Margin % 47.6% 50.3% 52.7% 52.2% 48.6%
Operating Margin % 29.3% 29.4% 37.1% 45.9% 44.8%
Net Income $19.63B $7.53B $24.88B $36.62B $19.88B
Diluted EPS $1.52 $0.58 $1.91 $2.81 $1.52

Institutional owners (13F) 648 filers · $13.4B total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 648
Value held $13.4B
New positions 102
Exited positions 66
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
102 (-48 vs prior Q) 66 (+9 vs prior Q) 205 (+2 vs prior Q) 194 (+39 vs prior Q) +72.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
GQG Partners LLC $3,122,083,433 193,198,230 23.28% Shares
BAILLIE GIFFORD & CO $785,672,601 48,618,354 5.86% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $649,479,288 40,190,550 4.84% Shares
Capital International Investors $615,181,983 38,068,192 4.59% Shares
Capital World Investors $475,419,314 29,419,512 3.54% Shares
Invesco Ltd. $444,107,537 27,481,902 3.31% Shares
LAZARD ASSET MANAGEMENT LLC $413,933,335 25,614,686 3.09% Shares
ARGA Investment Management, LP $279,752,305 17,311,405 2.09% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $248,728,256 15,391,600 1.85% Put option
BlackRock, Inc. $237,540,585 14,699,294 1.77% Shares
Itau Unibanco Holding S.A. $215,011,731 13,306,603 1.60% Shares
MORGAN STANLEY $204,602,175 12,661,024 1.53% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $174,498,767 10,798,191 1.30% Shares
JPMORGAN CHASE & CO $159,033,232 9,768,624 1.19% Shares
Mondrian Investment Partners LTD $145,071,847 8,977,218 1.08% Shares
JANE STREET GROUP, LLC $142,839,856 8,839,100 1.06% Shares
RENAISSANCE TECHNOLOGIES LLC $141,897,728 8,780,800 1.06% Shares
BANK OF AMERICA CORP /DE/ $138,981,414 8,600,335 1.04% Shares
Fisher Asset Management, LLC $135,651,289 8,394,263 1.01% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $130,566,336 8,079,600 0.97% Call option
Robeco Institutional Asset Management B.V. $125,715,250 7,779,409 0.94% Shares
UBS Group AG $124,974,750 7,733,586 0.93% Shares
GOLDMAN SACHS GROUP INC $123,201,490 7,623,854 0.92% Shares
FMR LLC $119,868,309 7,417,593 0.89% Shares
Bridgewater Associates, LP $105,436,776 6,524,553 0.79% Shares
Artemis Investment Management LLP $102,981,313 6,372,606 0.77% Shares
ALLIANCEBERNSTEIN L.P. $97,061,051 4,677,641 0.72% Shares
Perpetual Ltd $96,089,234 5,946,116 0.72% Shares
Schonfeld Strategic Advisors LLC $93,202,800 5,767,500 0.69% Put option
UBS Group AG $90,801,424 5,618,900 0.68% Put option
STATE STREET CORP $89,506,360 5,445,650 0.67% Shares
CITADEL ADVISORS LLC $87,823,136 5,434,600 0.65% Put option
Carrhae Capital LLP $87,456,449 5,411,909 0.65% Shares
D. E. Shaw & Co., Inc. $86,523,872 5,354,200 0.65% Call option
EARNEST PARTNERS LLC $84,454,843 5,226,166 0.63% Shares
SEI INVESTMENTS CO $82,403,476 5,099,224 0.61% Shares
JANE STREET GROUP, LLC $80,966,448 5,010,300 0.60% Call option
Russell Investments Group, Ltd. $80,863,311 4,983,446 0.60% Shares
AMERICAN CENTURY COMPANIES INC $74,467,316 4,608,126 0.56% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $74,414,000 4,604,845 0.55% Shares
Schonfeld Strategic Advisors LLC $70,250,103 4,347,160 0.52% Shares
DEUTSCHE BANK AG\ $69,553,820 4,304,073 0.52% Shares
UBS Group AG $68,309,451 4,227,070 0.51% Call option
VOLORIDGE INVESTMENT MANAGEMENT, LLC $67,884,976 4,200,803 0.51% Shares
JANE STREET GROUP, LLC $63,358,512 3,920,700 0.47% Put option
CITADEL ADVISORS LLC $62,393,760 3,861,000 0.47% Call option
RWC ASSET ADVISORS (US) LLC $60,543,327 3,746,493 0.45% Shares
MARSHALL WACE, LLP $59,593,702 3,687,729 0.44% Shares
Capital International, Inc./CA/ $52,228,635 3,231,970 0.39% Shares
DIMENSIONAL FUND ADVISORS LP $49,950,105 3,089,671 0.37% Shares

Show all 648 institutional owners →

Activists & 5%+ owners 2 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
BNDES Participacoes S.A., Banco Nacional de Desenvolvimento Economico e Social - BNDES ×3 filings July 20, 2026 15.90% Amendment · SEC
BNDES Participações S.A. — BNDESPAR, Banco Nacional de Desenvolvimento Econômico e Social - BNDES ×2 filings March 19, 2020 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 6 insiders · 2 officers · 0 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Fernando Sabbi Melgarejo Chief Financial Officer June 12, 2026 D · 0 0 $0
Renata Faria Rodrigues Baruzzi Lopes Chief Engineering Officer June 3, 2026 D · 0 0 $0
William Franca Da Silva · May 15, 2026 D · 0 0 $0
Clarice Coppetti · May 14, 2026 D · 0 0 $0
Claudio Romeo Schlosser · April 2, 2026 D · 0 0 $0
Angelica Garcia Cobas Laureano · April 2, 2026 P 3,659 1 1 $9,317

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 17 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
ILF · iShares Trust 5.94% 11,116,011 SH Sept. 11, 2026 Daily
ABLD · Abacus FCF ETF Trust 3.88% 185,543 NS July 31, 2026 N-PORT
IDVZ · Elevation Series Trust 3.49% 354,105 NS July 31, 2026 N-PORT
TIIV · ETF Series Solutions 1.31% 22,230 NS July 31, 2026 N-PORT
EPIN · Harbor ETF Trust 1.24% 4,922 NS July 31, 2026 N-PORT
JEMA · J.P. Morgan Exchange-Traded Fund Tr… 1.16% 975,476 NS July 31, 2026 N-PORT
EPEM · Harbor ETF Trust 1.09% 4,523 NS July 31, 2026 N-PORT
IXC · iShares Trust 1.02% 1,416,224 SH Sept. 11, 2026 Daily
DEXC · Dimensional ETF Trust 0.40% 63,835 NS July 31, 2026 N-PORT
DFEV · Dimensional ETF Trust 0.34% 351,894 NS July 31, 2026 N-PORT
TIER · T. Rowe Price Exchange-Traded Funds… 0.28% 5,079 NS July 31, 2026 N-PORT
DEHP · Dimensional ETF Trust 0.22% 47,452 NS July 31, 2026 N-PORT
DFEM · Dimensional ETF Trust 0.11% 490,593 NS July 31, 2026 N-PORT
DFAE · Dimensional ETF Trust 0.02% 103,050 NS July 31, 2026 N-PORT
VEU · VANGUARD INTERNATIONAL EQUITY INDEX… 0.02% 950,874 SH Aug. 19, 2026 Daily
DFAX · Dimensional ETF Trust 0.02% 107,187 NS July 31, 2026 N-PORT
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.01% 370,877 SH Aug. 19, 2026 Daily

PBR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 18 analysts BUY
Median target $23.00 +6.2%
4 22.2% Strong Buy
12 66.7% Buy
2 11.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

14 analysts · 2026-10-02

Mean target $22.95 +6.0%

Now Current price $21.65
Low$17.40 Mean$22.95 High$31.00

Latest News Recent headlines mentioning this company

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Source: SEC 20-F filed Apr 9, 2026