Petroleo Brasileiro S.A.- Petrobras (PBR.A) vs YPF Sociedad Anonima (YPF)

Petroleo Brasileiro S.A.- Petrobras and YPF Sociedad Anonima are both Oil & Gas Integrated companies. Petroleo Brasileiro S.A.- Petrobras is the larger, with a market value of $51.1B against $21.1B — 2.4× the size. Petroleo Brasileiro S.A.- Petrobras trades at the lower P/E: 4.7× against 27.4×. Petroleo Brasileiro S.A.- Petrobras grew revenue faster over the last twelve months: 20.8% against 7.37%. Petroleo Brasileiro S.A.- Petrobras has the higher net margin (24.5% vs 3.60%) and the higher return on invested capital (15.5% vs 11.5%). Across the 22 metrics below, Petroleo Brasileiro S.A.- Petrobras leads on 18 and YPF Sociedad Anonima on 4.

Valuation

Metric PBR.A YPF Oil & Gas Integrated median
P/E 4.68 27.42 11.88
P/S 1.15 0.97 1.20
P/B 1.28 1.58 1.56
Price to free cash flow 5.76 6.29 9.74
EV/EBITDA 3.25 4.00 4.94
EV/Sales 1.63 1.36 1.57
Earnings yield 21.38% 3.65% 7.58%
Free cash flow yield 17.37% 15.90% 6.71%

Profitability

Metric PBR.A YPF Oil & Gas Integrated median
Gross margin 50.75% 35.38% 39.18%
Operating margin 34.15% 18.47% 14.90%
Net margin 24.52% 3.60% 8.76%
Free cash flow margin 19.89% 15.49% 9.61%
Return on equity 30.66% 6.03% 12.22%
Return on assets 11.05% 2.43% 6.47%
Return on invested capital 15.53% 11.47% 10.61%

Growth

Metric PBR.A YPF Oil & Gas Integrated median
Revenue growth (TTM) 20.79% 7.37% 5.63%
EPS growth (last fiscal year) 162.07% (135.23%) —
Revenue growth, 5-year CAGR 10.69% 14.19% 12.04%
Net income growth, 5-year CAGR 76.66% 0.00% 0.00%

Health

Metric PBR.A YPF Oil & Gas Integrated median
Debt to equity 0.65 0.82 0.55
Current ratio 0.85 0.93 1.18
Net debt to EBITDA 1.23 1.95 0.80

Dividend

Metric PBR.A YPF Oil & Gas Integrated median
Dividend yield 17.06% — 5.01%
Payout ratio 1.25 0.00 0.29

Size

Metric PBR.A YPF Oil & Gas Integrated median
Market cap 51.12b 21.06b 51.12b

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