# Petróleo Brasileiro S.A. (Petrobras) (PBR)

> PBR · NYSE · Energy, oil and gas · Brazil · IFRS · Fiscal year ends December
>
> Latest report: FY2025, the fiscal year ended 31 December 2025, released 9 April 2026. Snapshot FY2025_21f63538.

Page: https://annalist.io/company/petrobras/

Identifiers: CIK 0001119639

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, fiscal year | $89.2bn | 89195000000 | USD | −2.4% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Operating profit, fiscal year | $26.1bn | 26113000000 | USD | −2.8% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Net income, fiscal year | $19.6bn | 19634000000 | USD | +161% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Diluted EPS, fiscal year | $1.52 | 1.52 | USD/shares | +162% year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Operating margin, fiscal year | 29.3% | 29.2763 | % | −0.1pp year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |
| Return on equity, fiscal year | 29.2% | 29.1585 | % | +18.2pp year on year | FY2025 | 2025-12-31 | 20-F 2025-12 |

- Operating margin: Operating income / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the fiscal year ended 31 December 2025 was US$89.2 billion, 2.4% lower than in the previous fiscal year. [Weakened in FY2025] Sources: 20-F 2025-12.
- Net income attributable to the company for fiscal 2025 was US$19.6 billion, 160.8% higher than in the previous fiscal year. [New in FY2025] Sources: 20-F 2025-12.
- The operating margin for fiscal 2025 was 29.3%, 0.1 percentage points lower than a year earlier. [Weakened in FY2025] Sources: 20-F 2025-12.
- Return on equity for fiscal 2025 was 29.2%, against 10.9% a year earlier. [New in FY2025] Sources: 20-F 2025-12, 20-F 2024-12.
- Net debt was US$63.3 billion at 31 December 2025, 1.5 times EBITDA for fiscal 2025. [Strengthened in FY2025] Sources: 20-F 2025-12.
- Lease-adjusted debt was 1.7 times adjusted EBITDA for fiscal 2025, and funds from operations equalled 49.3% of that debt. Both ratios are within the modest band of the S&P standard volatility table. [Confirmed in FY2025] Sources: 20-F 2025-12.
- Operating cash flow for fiscal 2025 exceeded net income attributable to the company by an amount equal to 8.1% of average total assets. [Weakened in FY2025] Sources: 20-F 2025-12.
- The Altman Z'' score for fiscal 2022 was 2.70, above the safe threshold of 2.60. [New in FY2022] Sources: 20-F 2023-12, 20-F 2024-12.
- The Beneish M-score for fiscal 2025 was minus 2.49, below the model threshold of minus 1.78. [Weakened in FY2025] Sources: 20-F 2025-12.
- The Piotroski F-score for fiscal 2025 was 7 of 9. The 2 signals not met were long-term debt to assets lower than a year earlier and margin higher than a year earlier. [New in FY2025] Sources: 20-F 2024-12, 20-F 2025-12.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-12-31 | Revenue | $89.2bn | 89195000000 | USD | 20-F 2025-12 |
| FY2025 | 2025-12-31 | Operating profit | $26.1bn | 26113000000 | USD | 20-F 2025-12 |
| FY2025 | 2025-12-31 | Profit attributable to owners of the parent | $19.6bn | 19634000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Revenue | $91.4bn | 91416000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Operating profit | $26.9bn | 26876000000 | USD | 20-F 2025-12 |
| FY2024 | 2024-12-31 | Profit attributable to owners of the parent | $7.5bn | 7528000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Revenue | $102bn | 102409000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Operating profit | $38.0bn | 38033000000 | USD | 20-F 2025-12 |
| FY2023 | 2023-12-31 | Profit attributable to owners of the parent | $24.9bn | 24884000000 | USD | 20-F 2025-12 |
| FY2022 | 2022-12-31 | Revenue | $124bn | 124474000000 | USD | 20-F 2024-12 |
| FY2022 | 2022-12-31 | Operating profit | $57.1bn | 57114000000 | USD | 20-F 2024-12 |
| FY2022 | 2022-12-31 | Profit attributable to owners of the parent | $36.6bn | 36623000000 | USD | 20-F 2024-12 |
| FY2021 | 2021-12-31 | Revenue | $84.0bn | 83966000000 | USD | 20-F 2023-12 |
| FY2021 | 2021-12-31 | Operating profit | $37.6bn | 37584000000 | USD | 20-F 2023-12 |
| FY2021 | 2021-12-31 | Profit attributable to owners of the parent | $19.9bn | 19875000000 | USD | 20-F 2023-12 |

## Source Documents

- 20-F 2025-12: 20-F for the year to 31 December 2025, 9 Apr 2026 (https://www.sec.gov/Archives/edgar/data/1119639/000129281426002168/pbrform20f_2025.htm)
- 20-F 2024-12: 20-F for the year to 31 December 2024, 3 Apr 2025 (https://www.sec.gov/Archives/edgar/data/1119639/000129281425001352/pbrform20f_2024.htm)
- 20-F 2023-12: 20-F for the year to 31 December 2023, 12 Apr 2024 (https://www.sec.gov/Archives/edgar/data/1119639/000129281424001340/pbrform20f_2023.htm)

## Reliability

- 215 checks compare these figures with other official figures; 0 failed.
- 4 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/petrobras/snapshots.json

## Cite

Annalist, Petróleo Brasileiro S.A. (Petrobras), snapshot petrobras/FY2025_21f63538; <item>, <period>; source <document>. Link the page https://annalist.io/company/petrobras/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/petrobras/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/petrobras/?fig=pl_annual/FY2025/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/petrobras/snapshots/FY2025_21f63538/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/petrobras/latest.json)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/petrobras/snapshots/FY2025_21f63538/pl_annual.csv)
- [Balance sheet, year end (CSV)](https://annalist.io/api/v1/companies/petrobras/snapshots/FY2025_21f63538/balance_sheet.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/petrobras/snapshots/FY2025_21f63538/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/petrobras/snapshots/FY2025_21f63538/ratios/annual.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/petrobras/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/petrobras/feed.xml)
- [Excel workbook](https://annalist.io/company/petrobras/petrobras.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/petrobras/)

## Peers

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- [PT Medco Energi Internasional Tbk](https://annalist.io/company/medco-energi/brief.md)
- [Side by side](https://annalist.io/compare/?c=petrobras,conocophillips,eqt-corporation,medco-energi)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.