Discounted Cash Flow

Petrobras - Petroleo Brasileiro S.A. ADR

PBR-A · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $81.4b $-4.8b $26.1b -5.9%
2017 $88.8b (9.1%) $-91.0m (98.1%) $27.1b (3.8%) -0.1% (98.3%)
2018 $95.6b (7.6%) $7.2b (7982.4%) $26.4b (-2.8%) 7.5% (7425.2%)
2019 $76.6b (-19.9%) $10.2b (41.5%) $25.6b (-2.9%) 13.3% (76.6%) $0.78
2020 $53.7b (-29.9%) $1.1b (-88.8%) $1.1b (-95.5%) 2.1% (-84.0%) $0.09 (-88.5%)
2021 $84.0b (56.4%) $19.9b (1641.9%) $37.8b (3212.1%) 23.7% (1013.7%) $1.52 (1588.9%)
2022 $124.5b (48.2%) $36.6b (84.3%) $-945.4m (-102.5%) 29.4% (24.3%) $2.81 (84.9%)
2023 $102.4b (-17.7%) $24.9b (-32.1%) $-15.6b (-1547.9%) 24.3% (-17.4%) $1.91 (-32.0%)
2024 $91.4b (-10.7%) $7.5b (-69.7%) $-52.5b (-237.2%) 8.2% (-66.1%) $0.58 (-69.6%)
2025 $89.2b (-2.4%) $19.6b (160.8%) $-70.9b (-35.0%) 22.0% (167.3%) $1.52 (162.1%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model