Brava Energia (BSP:BRAV3) Operating Income: R$2,581 Mil (TTM As of Mar. 2026)

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BSP:BRAV3 Brava Energia SA BSP:BRAV3
72 GF Score
Price R$20.02
GF Value R$20.24
Valuation Fairly Valued
! 8 Warning Signs
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What is Brava Energia Operating Income?

Brava Energia BSP:BRAV3 +6.49% 72 Operating Income is R$2,581 Mil as of Mar. 2026. GuruFocus rates BSP:BRAV3 with a GF Score™ of 72/100 and a GF Value™ of R$20.24 (Fairly Valued). The stock has 8 warning signs investors should review.

Brava Energia's Operating Income for the three months ended in Mar. 2026 was R$890 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was R$2,581 Mil.

Warning Sign:

Brava Energia SA has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Brava Energia's Operating Income for the three months ended in Mar. 2026 was R$890 Mil. Brava Energia's Revenue for the three months ended in Mar. 2026 was R$3,135 Mil. Therefore, Brava Energia's Operating Margin % for the quarter that ended in Mar. 2026 was 28.39%.

Brava Energia's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Brava Energia's annualized ROC % for the quarter that ended in Mar. 2026 was 5.18%. Brava Energia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -0.44%.


Brava Energia  (BSP:BRAV3) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Brava Energia's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=3560.284 * ( 1 - 44.12% )/( (37703.323 + 39141.554)/ 2 )
=1989.4866992/38422.4385
=5.18 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=42708.275 - 2565.639 - ( 5604.012 - max(0, 5778.076 - 8217.389+5604.012))
=37703.323

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=42610.142 - 2572.15 - ( 5220.18 - max(0, 7332.869 - 8229.307+5220.18))
=39141.554

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Brava Energia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-93.092/( ( (21050.167 + max(-1946.977, 0)) + (21088.286 + max(-3063.553, 0)) )/ 2 )
=-93.092/( ( 21050.167 + 21088.286 )/ 2 )
=-93.092/21069.2265
=-0.44 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(371.363 + 749.906 + 1492.108) - (2565.639 + 0 + 1994.715)
=-1946.977

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(856.488 + 813.549 + 1339.09) - (2572.15 + 0 + 3500.53)
=-3063.553

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Brava Energia's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=890.071/3135.056
=28.39 %

* 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.

4. 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 Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Brava Energia Operating Income Related Terms


Brava Energia Operating Income Historical Data

* Premium members only.

The historical data trend for Brava Energia's Operating Income 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.

Brava Energia Operating Income Chart

Brava Energia Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 233.90 394.38 1,340.82 1,786.77 2,226.68

Brava Energia Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income 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 619.79 897.25 470.82 323.00 890.07
BSP:BRAV3
72GF Score
Brava Energia SA BSP:BRAV3
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Brava Energia Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was R$2,581 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of R$2,581 Mil mean?
Brava Energia (BSP:BRAV3) has a Operating Income of R$2,581 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Brava Energia and its competitors.
Is Brava Energia's Operating Income too high?
Brava Energia's current Operating Income is R$2,581 Mil. Overall, Brava Energia has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Brava Energia's Operating Income compare to COP and EOG?
Brava Energia's Operating Income of R$2,581 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Oil & Gas company?
A good Operating Income depends on the Oil & Gas industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Brava Energia and its competitors. Brava Energia's current Operating Income is R$2,581 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Brava Energia stock overvalued right now?
Based on GuruFocus' analysis, Brava Energia (BSP:BRAV3) is currently considered Fairly Valued. The stock's GF Value™ is R$20.24, compared to a current price of R$20.02 — trading 1.1% below its estimated fair value. The current Operating Income is R$2,581 Mil. Brava Energia's overall GF Score™ is 72/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Brava Energia (BSP:BRAV3), the current Operating Income is R$2,581 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Brava Energia (BSP:BRAV3) Overvalued in 2026?

Based on GuruFocus' analysis, Brava Energia stock appears to be undervalued. The current stock price of R$20.02 is trading 1.1% below its estimated GF Value™ of R$20.24. GuruFocus considers Brava Energia to be Fairly Valued.

Key valuation signals for BSP:BRAV3:

  • Operating Income: R$2,581 Mil
  • GF Value™: R$20.24 vs. price of R$20.02 (1.1% below fair value)
  • GF Score™: 72/100 with 8 warning signs

No single metric tells the full story. See the BSP:BRAV3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Brava Energia Business Description

Industry EnergyOil & Gas
Other Exchanges BVENY:USA
Address Praia de Botafogo, 186, 16th Floor, Botafogo, Rio de Janeiro, RJ, BRA, 22250-145
Brava Energia SA is engaged in the oil and gas sector with a focus on the redevelopment of mature production fields located onshore, in shallow waters, and offshore. The company operates in the following business segments: Exploration and Production (E&P), Mid and Downstream, and Corporate and other businesses. Maximum revenue is generated from the Exploration and Production segment, which includes oil and gas exploration and production activities in Brazil, including production development. This segment generates revenue mainly from the sale of oil and gas. The Mid and Downstream segment includes the activities of refining, logistics, transportation, acquisition, and export of crude oil, as well as the purchase and sale of oil and gas derivatives in Brazil.
72GF Score

Get the complete analysis for BSP:BRAV3

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$20.02
Price
R$20.24
GF Value