PBR financial statements

The full income statement, balance sheet, and cash-flow statement for Petroleo Brasileiro S.A. Petrobras ADS (PBR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2017-12 7.44B2018-12 7.44B2019-12 7.44B2020-12 7.44B2021-12 7.44B2022-12 7.44B2023-12 7.44B2024-12 7.44B2025-12 7.44B-0.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	89.2B YoY-2.4%	91.4B YoY-10.7%	102B YoY-17.7%	124B YoY+48.2%	84.0B YoY+56.4%
	42.5B YoY-7.6%	46.0B YoY-14.8%	54.0B YoY-16.9%	65.0B YoY+59.3%	40.8B YoY+66.6%
Cost of revenue	46.7B YoY+2.8%	45.4B YoY-6.2%	48.4B YoY-18.6%	59.5B YoY+37.8%	43.2B YoY+47.8%
Research & development	864M YoY+9.5%	789M YoY+8.7%	726M YoY-8.3%	792M YoY+40.7%	563M YoY+58.6%
Operating income	26.1B YoY-2.8%	26.9B YoY-29.3%	38.0B YoY-33.4%	57.1B YoY+52.0%	37.6B YoY+273.5%
Interest expense	4.31B YoY-27.6%	5.96B YoY+51.9%	3.92B YoY+12.1%	3.50B YoY-32.0%	5.15B YoY-14.2%
Pre-tax income	26.8B YoY+140.5%	11.1B YoY-68.5%	35.4B YoY-33.9%	53.5B YoY+89.6%	28.2B YoY+12588.9%
Income tax	7.08B YoY+100.0%	3.54B YoY-66.0%	10.4B YoY-38.0%	16.8B YoY+103.5%	8.24B YoY+801.8%
	19.7B YoY+159.3%	7.61B YoY-69.6%	25.0B YoY-32.0%	36.8B YoY+83.9%	20.0B YoY+2008.2%
Net income to common	19.6B YoY+160.8%	7.53B YoY-69.7%	24.9B YoY-32.1%	36.6B YoY+84.3%	19.9B YoY+1641.9%
	$1.52 YoY+162.1%	$0.58 YoY-69.6%	$1.91 YoY-32.0%	$2.81 YoY+84.9%	$1.52
EPS (basic)	$1.52 YoY+162.1%	$0.58 YoY-69.6%	$1.91 YoY-32.0%	$2.81 YoY+84.9%	$1.52 YoY+1588.9%
Dividends per share	$1.09 YoY-55.7%	$2.46 YoY-6.8%	$2.64 YoY-47.8%	$5.07 YoY+188.3%	$1.76 YoY+856.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	25.4B YoY+16.5%	21.8B YoY-32.7%	32.4B YoY+3.8%	31.3B YoY+3.7%	30.1B YoY+10.1%
Cash & equivalents	6.47B YoY+97.8%	3.27B YoY-74.3%	12.7B YoY+59.2%	8.00B YoY-23.6%	10.5B YoY-10.6%
Accounts receivable	4.63B YoY+29.8%	3.57B YoY-41.9%	6.13B YoY+22.5%	5.01B YoY-21.3%	6.37B YoY+34.6%
Inventory	8.21B YoY+22.4%	6.71B YoY-12.6%	7.68B YoY-12.5%	8.78B YoY+21.0%	7.25B YoY+27.8%
	222B YoY+22.4%	182B YoY-16.3%	217B YoY+16.0%	187B YoY+7.4%	174B YoY-8.2%
Property, plant & equipment	168B YoY+23.3%	136B YoY-11.2%	153B YoY+17.9%	130B YoY+3.9%	125B YoY+0.9%
Total non-current assets	197B YoY+23.2%	160B YoY-13.4%	185B YoY+18.4%	156B YoY+8.1%	144B YoY-11.3%
	36.1B YoY+14.6%	31.5B YoY-7.1%	33.9B YoY+7.9%	31.4B YoY+29.8%	24.2B YoY-7.8%
Short-term & current debt	1.62B YoY-24.2%	2.13B YoY-43.5%	3.78B YoY+21.4%	3.11B YoY+1.6%	3.06B YoY+28.5%
	146B YoY+19.7%	122B YoY-11.4%	138B YoY+17.7%	117B YoY+12.3%	105B YoY-19.7%
Long-term debt	24.3B YoY+17.8%	20.6B YoY-15.9%	24.5B YoY-7.2%	26.4B YoY-17.7%	32.1B YoY-35.5%
	75.6B YoY+27.8%	59.1B YoY-24.8%	78.6B YoY+13.1%	69.5B YoY+0.1%	69.4B YoY+16.9%
Total equity incl. non-controlling	75.9B YoY+27.9%	59.4B YoY-24.8%	79.0B YoY+13.1%	69.8B YoY+0.0%	69.8B YoY+16.6%
	7.44B YoY+0.0%	7.44B YoY+0.0%	7.44B YoY+0.0%	7.44B YoY+0.0%	7.44B YoY+0.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash from operations	36.0B YoY-5.1%	38.0B YoY-12.1%	43.2B YoY-13.1%	49.7B YoY+31.6%	37.8B YoY+30.8%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Long-term debt issued	5.32B YoY+149.9%	2.13B YoY-3.7%	2.21B YoY-23.3%	2.88B YoY+52.8%	1.89B YoY-88.9%
Long-term debt repaid	3.33B YoY-49.1%	6.54B YoY+55.9%	4.19B YoY-55.1%	9.33B YoY-56.4%	21.4B YoY-16.8%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	8.11B YoY-55.7%	18.3B YoY-6.8%	19.7B YoY-47.8%	37.7B YoY+188.3%	13.1B YoY+856.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	88.2B YoY-7.9%	95.7B YoY-19.5%	119B YoY+50.0%	79.3B YoY-3.0%	81.7B YoY-2.2%
P/E	4.5× YoY-64.5%	12.6× YoY+289.2%	3.2× YoY-18.5%	4.0× YoY-3.0%	4.1× YoY-95.4%
P/S	1.0× YoY-5.6%	1.0× YoY+9.6%	1.0× YoY+1.2%	0.9× YoY-3.0%	1.0× YoY-37.5%
P/B	1.2× YoY-27.9%	1.6× YoY-5.3%	1.7× YoY+49.8%	1.1× YoY-3.0%	1.2× YoY-16.4%
	22.4% YoY+181.4%	7.9% YoY-74.3%	30.9% YoY+22.6%	25.2% YoY+3.1%	24.5% YoY+2056.2%
	9.2% YoY-52.0%	19.1% YoY+15.7%	16.5% YoY-65.2%	47.6% YoY+197.2%	16.0% YoY+878.5%
Source filing	20-F	20-F	20-F	20-F	20-F

About this data

Source: PBR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PBR filings on SEC EDGAR → Not investment advice.