Petrobras - Petroleo Brasileiro
PBR · NYSECrude Petroleum & Natural Gas · Fiscal year ends Dec 31
Petrobras - Petroleo Brasileiro reported revenue of $151B in the fiscal year ended Dec 2010, up 30.2% from the year before. Operating income was $24.2B, an operating margin of 16.0%, and net income was $19.5B. Operating cash flow of $28.5B less capital expenditure of $45.1B left free cash flow of −$16.6B. Net debt was $51.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Revenue | $112B | $147B | $116B | $151B |
| Cost of revenue | $49.8B | $72.9B | $49.3B | $70.7B |
| Gross profit | $62.6B | $73.7B | $66.6B | $80.2B |
| Research & development | $881M | $941M | $681M | $993M |
| Selling, general & admin | $6.3B | $7.4B | $7B | $9B |
| Operating income | $20.5B | $25.3B | $21.9B | $24.2B |
| Pre-tax income | $19.3B | $27B | $22.1B | $25.8B |
| Income tax | $5.9B | $9.3B | $5.2B | $6.4B |
| Net income | $13.4B | $17.7B | $16.8B | $19.5B |
Balance sheet
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Cash & equivalents | $7B | $6.5B | $16.2B | $17.6B |
| Receivables | – | $6.6B | $8.1B | $10.6B |
| Inventory | – | $8B | $11.1B | $11.9B |
| Current assets | – | $26.8B | $42.6B | $63.9B |
| Net PP&E | – | $84.7B | $136B | $219B |
| Goodwill | – | $118M | $139M | $192M |
| Total assets | – | $126B | $200B | $309B |
| Payables | – | $7.8B | $9.9B | – |
| Current liabilities | – | $24.8B | $31B | $33.6B |
| Short-term debt | – | – | $8.4B | $9B |
| Long-term debt | – | $20.6B | $49B | $60.5B |
| Shareholders' equity | $67.5B | $62.6B | $94.1B | $181B |
Cash flow
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Operating cash flow | $22.7B | $28.2B | $24.9B | $28.5B |
| Capital expenditure | $21B | $29.9B | $35.1B | $45.1B |
| Free cash flow | $1.7B | −$1.7B | −$10.2B | −$16.6B |
| Depreciation & amortisation | $5.5B | $5.9B | $7.2B | $8.5B |
Key ratios
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 30.3% | −20.9% | 30.2% |
| Operating income growth (YoY) | – | 23.7% | −13.5% | 10.5% |
| Gross margin | 55.7% | 50.3% | 57.5% | 53.1% |
| Operating margin | 18.2% | 17.3% | 18.9% | 16.0% |
| Net margin | 11.9% | 12.1% | 14.5% | 12.9% |
| Return on equityBlank when equity is negative | 19.9% | 28.3% | 17.9% | 10.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 25.1% | 12.9% | 8.8% |
| Free cash flow margin | 1.5% | −1.1% | −8.8% | −11.0% |
| Cash conversion (CFO ÷ net income) | 1.69x | 1.59x | 1.48x | 1.46x |
| Receivable days | – | 16 | 26 | 26 |
| Inventory days | – | 40 | 82 | 61 |
| Payable days | – | 39 | 73 | – |
| Debt ÷ equity | – | 0.33x | 0.61x | 0.38x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $14.1B | $41.3B | $51.8B |
| Current ratio | – | 1.08x | 1.38x | 1.90x |
More in Crude Petroleum & Natural Gas
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.