Petrobras - Petroleo Brasileiro
Through the investors’ lenses
2 of 4 cleared6 of 9 criteria
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 3/4
| Measure | PBR | Checked against | |
|---|---|---|---|
| Owner earnings | $-17.10bn | positive | ✗ |
| Return on equity | 10.7% | US median 2.8% | ✓ |
| Debt to equity | 0.33x | US median 0.57x | ✓ |
| Operating margin | 16.0% | US median 3.1% | ✓ |
Passes 3 of 4. These are the measures Warren Buffett published, applied to Petrobras - Petroleo Brasileiro’s own figures — their criteria, not their view of this company. What he looks at, and why →
Benjamin Graham 0/2
| Measure | PBR | Checked against | |
|---|---|---|---|
| Current ratio | 1.90x | 2.00x published | ✗ |
| Long-term debt to working capital | 2.00x | 1.00x published | ✗ |
Passes 0 of 2. These are the measures Benjamin Graham published, applied to Petrobras - Petroleo Brasileiro’s own figures — their criteria, not their view of this company. What he looks at, and why →
Joel Greenblatt 1/1
| Measure | PBR | Checked against | |
|---|---|---|---|
| Return on capital employed | 10.0% | US median 5.1% | ✓ |
Passes 1 of 1. These are the measures Joel Greenblatt published, applied to Petrobras - Petroleo Brasileiro’s own figures — their criteria, not their view of this company. What he looks at, and why →
Peter Lynch 2/2
| Measure | PBR | Checked against | |
|---|---|---|---|
| Debt to equity | 0.33x | US median 0.57x | ✓ |
| Net margin | 12.9% | US median 2.0% | ✓ |
Passes 2 of 2. These are the measures Peter Lynch published, applied to Petrobras - Petroleo Brasileiro’s own figures — their criteria, not their view of this company. What he looks at, and why →
Last usable year: 2010-12-31 — 190 months ago. Nothing filed since gives the figures a payout ratio needs. For a company that once paid, that usually means it stopped.
| Basis | Payout | Why |
|---|---|---|
| Operating cash flow | 11.0% | whyBefore capital spending. |
| Free cash flow | negative | whyOCF fell $16,583m short of capex — the dividend was not funded from free cash flow. |
No GAAP earnings figure is shown. This company does not report the inputs for it in its XBRL filings — capital expenditure, in particular, is often folded into a single investing total rather than tagged on its own. The figure is absent from the filings, not zero, and inventing one from a balance-sheet movement would be a guess dressed as a measurement.
Nothing is marked as applying, deliberately. The basis that governs here is free cash flow, and this year it yields no ratio at all. The figure above is shown for completeness; treating it as the answer is the substitution this page exists to prevent.
The arithmetic
- Operating cash flow — dividends paid $3,148m ÷ operating cash flow $28,495m
- Free cash flow — dividends paid $3,148m ÷ (operating cash flow $28,495m − capex $45,078m)
Where the figures came from
- 20-F filed 2011-05-26 · accession 0001292814-11-001552
Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.
Also on: when it files.
Who else looks like this
Every figure above is computed from Petrobras - Petroleo Brasileiro’s own filing, and every company here is measured the same way. Screen all of them on any of these twelve measures, or on the rules four investors published — free, and nothing you screen leaves your browser.
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