Petroleo Brasileiro Petrobras (BSP:PETR3) ROCE % : 17.72% (As of Dec. 2023)

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What is Petroleo Brasileiro Petrobras ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Petroleo Brasileiro Petrobras's annualized ROCE % for the quarter that ended in Dec. 2023 was 17.72%.

Petroleo Brasileiro Petrobras ROCE % Historical Data

The historical data trend for Petroleo Brasileiro Petrobras's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Petroleo Brasileiro Petrobras ROCE % Chart

Petroleo Brasileiro Petrobras Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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9.57

3.47

21.92

36.19

22.11

Petroleo Brasileiro Petrobras Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															28.95	28.71	21.16	20.56	17.72

Petroleo Brasileiro Petrobras ROCE % Calculation

Petroleo Brasileiro Petrobras's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	189352.451	/	( ( (989828.57 - 165931.164)	+	(1053469.564 - 164329.352) )	/ 2 )
	=	189352.451	/	( (823897.406	+	889140.212)	/ 2 )
	=	189352.451	/	856518.809
	=	22.11 %

Petroleo Brasileiro Petrobras's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	156377.004	/	( ( (1031271.41 - 155440.039)	+	(1053469.564 - 164329.352) )	/ 2 )
	=	156377.004	/	( ( 875831.371	+	889140.212 )	/ 2 )
	=	156377.004	/	882485.7915
	=	17.72 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Petroleo Brasileiro Petrobras (BSP:PETR3) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Petroleo Brasileiro Petrobras ROCE % Related Terms

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Petroleo Brasileiro Petrobras (BSP:PETR3) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Petroleo Brasileiro SA Petrobras (BSP:PETR3) » Definitions » ROCE %

Traded in Other Exchanges

PBR.A:USA PBR:USA PBRN:Mexico PBRA:Mexico XPBRA:Spain XPBR:Spain PJXC:Germany PETR4:Brazil

Address

Avenida Republica do Chile, 65, Rio de Janeiro, RJ, BRA, 20031-912

Website

https://www.petrobras.com.br

Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2022 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.5 billion boe (85% oil). At year-end 2022, Petrobras operated 11 refineries in Brazil with capacity of 1.9 million barrels a day and distributes refined products and natural gas throughout Brazil.

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