Petroleo Brasileiro Petrobras SA ADR (PBR) financial statements
Petroleo Brasileiro Petrobras SA ADR reported revenue of $91.4B in fiscal 2024, down 0.7% a year over 9 years.
Net income was $7.5B and the operating margin 29.4%, against -1.2% in 2015.
Free cash flow was $23.3B, and the company returned $11.7B in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Petroleo Brasileiro Petrobras SA ADR's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $97.3B | $72.4B | $77.9B | $84.6B | $76.6B | $53.7B | $84.0B | $124.5B | $102.4B | $91.4B |
| Cost of revenue | $67.5B | $48.3B | $51.2B | $52.2B | $45.7B | $29.2B | $43.2B | $59.5B | $48.4B | $45.4B |
| Gross profit | $29.8B | $24.1B | $26.7B | $32.5B | $30.9B | $24.5B | $40.8B | $65.0B | $54.0B | $46.0B |
| Research and development | $630M | $523M | $572M | $641M | -$576M | $355M | $563M | $792M | $726M | $789M |
| Selling, general and admin | $8.0B | $5.9B | $6.3B | $6.1B | -$6.6B | $6.0B | $5.4B | $6.3B | $6.6B | $6.7B |
| Operating income | -$1.1B | $4.3B | $10.6B | $16.8B | $20.6B | $10.1B | $37.6B | $57.1B | $38.0B | $26.9B |
| Interest expense | $6.4B | $6.4B | $7.0B | $5.7B | -$7.1B | $6.0B | $5.2B | $3.5B | $3.9B | $6.0B |
| Pre-tax income | -$9.7B | -$3.5B | $1.5B | $10.8B | $12.0B | -$226M | $28.2B | $53.5B | $35.4B | $11.1B |
| Income tax | -$1.1B | $775M | $1.7B | $4.3B | $4.2B | -$1.2B | $8.2B | $16.8B | $10.4B | $3.5B |
| Net income | -$8.4B | -$4.8B | -$91M | $7.2B | $10.2B | $1.1B | $19.9B | $36.6B | $24.9B | $7.5B |
| EPS (diluted) | — | — | — | $0.55 | $0.78 | $0.09 | $1.52 | $2.81 | $1.91 | $0.58 |
| Gross margin | 30.7% | 33.3% | 34.3% | 38.3% | 40.3% | 45.6% | 48.6% | 52.2% | 52.7% | 50.3% |
| Operating margin | -1.2% | 5.9% | 13.5% | 19.8% | 26.9% | 18.7% | 44.8% | 45.9% | 37.1% | 29.4% |
| Net margin | -8.7% | -6.7% | -0.1% | 8.5% | 13.3% | 2.1% | 23.7% | 29.4% | 24.3% | 8.2% |
Balance sheet
Fiscal years, from Petroleo Brasileiro Petrobras SA ADR's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $25.1B | $21.2B | $22.5B | $13.9B | $7.4B | $11.7B | $10.5B | $8.0B | $12.7B | $3.3B |
| Receivables | — | $4.8B | $5.0B | $5.7B | $3.8B | $4.7B | $6.4B | $5.0B | $6.1B | $3.6B |
| Inventory | — | $8.5B | $8.5B | $9.0B | $8.2B | $5.7B | $7.3B | $8.8B | $7.7B | $6.7B |
| Total current assets | — | $44.8B | $47.1B | $37.1B | $27.8B | $27.4B | $30.1B | $31.2B | $32.4B | $21.8B |
| Property, plant and equipment | $161.3B | $175.5B | $176.7B | $108.0B | $159.3B | $124.2B | $125.3B | $130.2B | $153.4B | $136.3B |
| Total assets | — | $247.0B | $251.4B | $222.1B | $229.7B | $190.0B | $174.3B | $187.2B | $217.1B | $181.6B |
| Total current liabilities | — | $24.9B | $24.9B | $25.1B | $28.8B | $26.2B | $24.2B | $31.4B | $33.9B | $31.5B |
| Long-term debt | — | $108.4B | $102.0B | $80.5B | $58.8B | $49.7B | $32.1B | $26.4B | $24.5B | $20.6B |
| Total liabilities | — | $169.4B | $169.9B | $148.9B | $155.5B | $130.1B | $104.5B | $117.4B | $138.1B | $122.3B |
| Shareholders' equity | $66.1B | $76.8B | $79.8B | $71.5B | $73.3B | $59.3B | $69.4B | $69.5B | $78.6B | $59.1B |
| Net debt | -$25.1B | $96.9B | $86.5B | $70.3B | $55.9B | $42.2B | $25.2B | $22.0B | $16.1B | $19.9B |
Cash flow
Fiscal years, from Petroleo Brasileiro Petrobras SA ADR's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26.0B | $26.1B | $27.1B | $26.4B | $25.6B | $28.9B | $37.8B | $49.7B | $43.2B | $38.0B |
| Capital spending | $21.7B | $14.1B | $13.6B | $12.0B | -$8.6B | $5.9B | $6.3B | $9.6B | $12.1B | $14.6B |
| Free cash flow | $4.3B | $12.0B | $13.5B | $14.3B | $34.2B | $23.0B | $31.5B | $40.1B | $31.1B | $23.3B |
| Dividends paid | $68M | $124M | $154M | $2.1B | -$3.0B | -$930M | $12.0B | $36.4B | $11.9B | $11.7B |
| Net borrowing | $2.6B | -$11.7B | -$6.5B | -$23.3B | -$19.8B | -$8.7B | -$19.5B | -$6.5B | -$2.0B | -$4.4B |
| Free cash flow margin | 4.5% | 16.6% | 17.3% | 16.9% | 44.6% | 42.9% | 37.5% | 32.2% | 30.4% | 25.5% |
Questions
What was Petroleo Brasileiro Petrobras SA ADR's revenue in 2024?
$91.4B in fiscal 2024, from its 10-K filing.
How much free cash flow does Petroleo Brasileiro Petrobras SA ADR generate?
$23.3B in fiscal 2024 (operating cash flow minus capital spending).
From Petroleo Brasileiro Petrobras SA ADR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.