Petroleo Brasileiro Petrobras (BSP:PETR4) ROCE %: 18.77% (As of Mar. 2026)


BSP:PETR4 Petroleo Brasileiro SA Petrobras BSP:PETR4
71 GF Score
Price R$38.45
GF Value R$34.73
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Petroleo Brasileiro Petrobras ROCE %?

Petroleo Brasileiro Petrobras BSP:PETR4 +0.42% 71 ROCE % is 18.77% as of Mar. 2026. GuruFocus rates BSP:PETR4 with a GF Score™ of 71/100 and a GF Value™ of R$34.73 (Modestly Overvalued). The stock has 3 warning signs investors should review.

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 Mar. 2026 was 18.77%.

Petroleo Brasileiro Petrobras  (BSP:PETR4) 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

Petroleo Brasileiro Petrobras ROCE % Historical Data

* Premium members only.

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.

Petroleo Brasileiro Petrobras ROCE % Chart

Petroleo Brasileiro Petrobras Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 21.92 36.11 22.10 10.19 17.37

Petroleo Brasileiro Petrobras Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 22.56 16.51 19.63 10.22 18.77
BSP:PETR4
71GF Score
Petroleo Brasileiro SA Petrobras BSP:PETR4
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Petroleo Brasileiro Petrobras ROCE % Calculation

Petroleo Brasileiro Petrobras's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=169257.967/( ( (1122729.581 - 194451.114) + (1218228.89 - 197530.639) )/ 2 )
=169257.967/( (928278.467+1020698.251)/ 2 )
=169257.967/974488.359
=17.37 %

Petroleo Brasileiro Petrobras's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=195028/( ( (1218228.89 - 197530.639) + (1246068 - 189166) )/ 2 )
=195028/( ( 1020698.251 + 1056902 )/ 2 )
=195028/1038800.1255
=18.77 %

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

* 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 ROCE % →
What does a ROCE % of 18.77% mean?
Petroleo Brasileiro Petrobras (BSP:PETR4) has a ROCE % of 18.77% as of Mar. 2026.
Is Petroleo Brasileiro Petrobras' ROCE % too high?
Petroleo Brasileiro Petrobras' current ROCE % is 18.77%. The Oil & Gas industry median ROCE % is 6.79. Petroleo Brasileiro Petrobras' value of 18.77% is 176.4% above this industry median. Overall, Petroleo Brasileiro Petrobras has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Petroleo Brasileiro Petrobras' ROCE % compare to XOM and CVX?
Petroleo Brasileiro Petrobras' ROCE % of 18.77% can be compared against companies in the Oil & Gas industry. The industry median ROCE % is 6.79. Petroleo Brasileiro Petrobras' value of 18.77% is 176.4% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Oil & Gas company?
The median ROCE % among Oil & Gas companies is 6.79, based on 977 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Petroleo Brasileiro Petrobras's current ROCE % of 18.77% is 176.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median ROCE % is 6.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Petroleo Brasileiro Petrobras's current ROCE % is 18.77%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Petroleo Brasileiro Petrobras stock overvalued right now?
Based on GuruFocus' analysis, Petroleo Brasileiro Petrobras (BSP:PETR4) is currently considered Modestly Overvalued. The stock's GF Value™ is R$34.73, compared to a current price of R$38.45 — trading 10.7% above its estimated fair value. The current ROCE % is 18.77% and 176.4% above the Oil & Gas industry median of 6.79. Petroleo Brasileiro Petrobras' overall GF Score™ is 71/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Petroleo Brasileiro Petrobras (BSP:PETR4), the current ROCE % is 18.77% 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 Petroleo Brasileiro Petrobras (BSP:PETR4) Overvalued in 2026?

Based on GuruFocus' analysis, Petroleo Brasileiro Petrobras stock appears to be overvalued. The current stock price of R$38.45 is trading 10.7% above its estimated GF Value™ of R$34.73. GuruFocus considers Petroleo Brasileiro Petrobras to be Modestly Overvalued.

Key valuation signals for BSP:PETR4:

  • ROCE %: 18.77%
  • GF Value™: R$34.73 vs. price of R$38.45 (10.7% above fair value)
  • GF Score™: 71/100 with 3 warning signs
  • Industry Position: 176.4% above the Oil & Gas median

No single metric tells the full story. See the BSP:PETR4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Petroleo Brasileiro Petrobras Business Description

Industry EnergyOil & Gas
Address Avenida Henrique Valadares, 28, Rio de Janeiro, RJ, BRA, 20231-030
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on the exploration and production of oil and gas in Brazilian offshore fields. Production in 2025 was 3.0 million barrels of oil equivalent per day (80% oil), and reserves stood at 12.1 billion boe (84% oil). At the end of 2025, Petrobras operated 10 refineries in Brazil with a capacity of 1.8 million barrels per day and distributed refined products and natural gas throughout the country.
71GF Score

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

R$38.45
Price
R$34.73
GF Value