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PBR.A (Petroleo Brasileiro Petrobras) Cyclically Adjusted Book per Share : $10.01 (As of Mar. 2025)


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What is Petroleo Brasileiro Petrobras Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Petroleo Brasileiro Petrobras's adjusted book value per share for the three months ended in Mar. 2025 was $10.697. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $10.01 for the trailing ten years ended in Mar. 2025.

During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -0.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 1.40% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 3.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Petroleo Brasileiro Petrobras was 17.00% per year. The lowest was -0.50% per year. And the median was 3.90% per year.

As of today (2025-07-20), Petroleo Brasileiro Petrobras's current stock price is $11.11. Petroleo Brasileiro Petrobras's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was $10.01. Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio of today is 1.11.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Petroleo Brasileiro Petrobras was 1.42. The lowest was 0.25. And the median was 0.92.


Petroleo Brasileiro Petrobras Cyclically Adjusted Book per Share Historical Data

The historical data trend for Petroleo Brasileiro Petrobras's Cyclically Adjusted Book per Share 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.

* Premium members only.

Petroleo Brasileiro Petrobras Cyclically Adjusted Book per Share Chart

Petroleo Brasileiro Petrobras Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.18 10.35 10.42 12.22 9.30

Petroleo Brasileiro Petrobras Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 10.44 10.36 9.30 10.01

Competitive Comparison of Petroleo Brasileiro Petrobras's Cyclically Adjusted Book per Share

For the Oil & Gas Integrated subindustry, Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio falls into.


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Petroleo Brasileiro Petrobras Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Petroleo Brasileiro Petrobras's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book= Book Value per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=10.697/168.1016*168.1016
=10.697

Current CPI (Mar. 2025) = 168.1016.

Petroleo Brasileiro Petrobras Quarterly Data

Book Value per Share CPI Adj_Book
201506 15.182 100.006 25.520
201509 11.170 101.392 18.519
201512 10.002 104.247 16.129
201603 11.316 106.979 17.781
201606 12.964 108.851 20.021
201609 12.258 109.986 18.735
201612 11.772 110.802 17.860
201703 12.476 111.869 18.747
201706 11.987 112.115 17.973
201709 12.668 112.777 18.882
201712 12.235 114.068 18.031
201803 12.545 114.868 18.359
201806 11.219 117.038 16.114
201809 11.119 117.881 15.856
201812 10.969 118.340 15.581
201903 11.122 120.124 15.564
201906 12.148 120.977 16.880
201909 11.276 121.292 15.628
201912 11.242 123.436 15.310
202003 6.837 124.092 9.262
202006 6.797 123.557 9.247
202009 6.734 125.095 9.049
202012 9.100 129.012 11.857
202103 8.434 131.660 10.768
202106 10.914 133.871 13.705
202109 0.000 137.913 0.000
202112 10.642 141.992 12.599
202203 14.052 146.537 16.120
202206 12.017 149.784 13.487
202209 10.564 147.800 12.015
202212 10.655 150.207 11.924
202303 12.135 153.352 13.302
202306 11.793 154.519 12.830
202309 11.845 155.464 12.808
202312 12.146 157.148 12.993
202403 0.000 159.372 0.000
202406 10.425 161.052 10.881
202409 11.212 162.342 11.610
202412 9.172 164.740 9.359
202503 10.697 168.102 10.697

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Petroleo Brasileiro Petrobras  (NYSE:PBR.A) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Petroleo Brasileiro Petrobras's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=11.11/10.01
=1.11

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Petroleo Brasileiro Petrobras was 1.42. The lowest was 0.25. And the median was 0.92.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Petroleo Brasileiro Petrobras Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Petroleo Brasileiro Petrobras's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Petroleo Brasileiro Petrobras Business Description

Address
Avenida Henrique Valadares, Rio de Janeiro, RJ, BRA, 28-20231-030
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2024 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.