Petrobras reached a record net profit of R$ 188.3 (US$36.3) billion in 2022, according to the report released Wednesday night (Mar. 1). The amount is 77% higher compared to 2021 and will also have a payment of R$ 35.8 billion in dividends to investors.
According to the state-owned company, the record performance was “mainly due to higher oil prices (Brent), better financial results and gains from co-participation agreements in the Onerous Transfer of Rights fields” (see full report).
The company’s debt ended the year 16% lower than the previous year, a level considered “healthy” for companies of the size and performance segment of the oil company.
“Evidence is that the debt commitment with interest payments is equivalent today to only 14 days of operating cash generation of 2022,” it says in a statement.
Also, according to Petrobras, the investments made throughout 2022 totaled US$9.8 billion (R$ 50.7 billion), an increase of 12% compared to 2021.
The company also paid the Union R$ 279 billion in taxes and government participation.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$167.17B
Market cap
Analyst target $24.09
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $24.09 · +31% vs 200-day
Valuation & profitability
Market cap$167.17B
Revenue (TTM)$548.49B
P / E ratio6.6
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $25.96
Beta (volatility)-0.23
200-day average$18.40
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield14.4%
Payout ratio28.3%
Fwd. annual$1.43
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…