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PETROBRAS - PETROLEO BRASILEIRO SA (PBR) Annual Reports

Q: Where can I read PETROBRAS - PETROLEO BRASILEIRO SA (PBR) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

PETROBRAS - PETROLEO BRASILEIRO SA is listed on NYSE, classified by the SEC under Crude Petroleum & Natural Gas (SIC 1311). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： NYSE
Fiscal year end： 12/31
SEC CIK： 1119639 →

Website：Official site ↗

Financial Highlights

FY2025 Q2 (quarterly, ended 2025-06-30)
	Current	Prior year	YoY
Revenue	$21.0B	$23.5B	-10.4%
Operating income	$5.3B	$6.7B	-20.2%
Net income	$4.7B	$-344.0M	+1476.2%
EPS (diluted)	$0.37	$-0.03	+1333.3%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In bn (USD)

Revenue 21.0 bn Net income 4.73 bn

Show table：Income statement

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
Revenue	22.9	27.0	32.5	33.5	34.6	36.9	38.9	40.5	41.1	47.9	49.0	97.3	81.4	20.8	46.3	23.4	49.2	18.5	39.3	9.48	27.1	21.0	47.3	34.7	62.6	23.0	52.7	23.5	44.2	21.0
Gross profit	—	—	—	—	—	—	—	—	—	—	—	29.8	26.0	6.64	14.5	8.77	17.0	7.70	16.6	3.42	13.8	10.8	22.0	19.5	31.1	11.6	28.2	11.7	22.0	10.0
Operating income	4.26	6.56	5.28	5.77	6.30	6.27	5.68	5.91	7.39	7.05	7.43	-1.13	4.31	4.66	2.02	4.62	7.32	9.89	7.14	2.00	16.5	8.90	22.7	19.6	25.3	8.48	18.0	6.71	11.2	5.35
Net income	2.75	5.00	4.15	4.93	4.37	4.24	5.03	5.84	6.65	6.93	3.26	-8.45	-4.84	0.1	-1.60	2.79	2.23	4.81	4.27	-0.42	11.3	8.12	11.6	11.0	17.0	5.83	11.7	-0.34	3.09	4.73

Balance sheet

Quarterly · In bn (USD)

Total assets 215 bn Total liabilities 142 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
Current assets	—	—	—	42.6	42.0	40.3	66.0	63.9	73.6	76.7	64.8	—	44.8	47.1	47.1	37.4	37.1	47.3	27.8	36.9	27.4	30.3	30.1	42.9	31.3	28.4	32.5	28.7	21.8	24.9
Total assets	—	—	—	200	204	211	298	309	331	351	309	—	247	251	251	221	222	252	230	185	190	188	174	192	187	206	217	190	182	215
Current liabilities	—	—	—	31.0	33.2	34.7	37.5	33.5	36.6	38.1	35.8	—	24.9	—	24.9	21.9	25.1	36.1	28.8	26.3	26.2	23.2	24.2	32.7	31.4	31.5	33.9	32.0	31.5	32.8
Total liabilities	—	—	—	—	—	—	—	—	—	—	—	—	169	—	170	146	149	171	156	141	130	116	105	113	117	128	138	123	122	142
Equity	81.0	—	92.3	94.1	95.3	97.5	177	181	191	204	174	66.1	76.8	78.9	79.8	73.2	71.5	79.2	73.3	44.3	59.4	71.2	69.4	78.4	69.5	76.9	78.6	67.2	59.1	73.2

Cash flow

Quarterly · In bn (USD)

Operating 16.0 bn Investing -4.33 bn Financing -8.16 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
Operating	5.90	3.87	8.23	6.92	5.47	7.77	5.39	9.86	9.02	9.37	9.47	26.0	26.1	13.5	13.6	13.9	12.4	9.94	15.7	13.2	15.7	18.1	19.7	0.02	49.7	20.0	23.2	18.5	19.5	16.0
Investing	-6.53	-8.34	-10.7	-9.60	-9.84	-11.6	-20.8	-20.8	-7.04	-11.9	-8.91	-13.3	-11.3	-3.57	-7.46	0.2	-4.97	6.72	-8.40	-3.63	-0.88	-2.35	4.51	2.63	-3.06	-1.90	-6.06	-5.36	-8.01	-4.33
Financing	2.19	0.47	12.0	2.31	3.13	2.33	28.5	1.43	5.86	-1.97	-2.23	-3.16	-19.1	-7.62	-7.01	-19.2	-10.4	-13.5	-18.6	2.83	-22.1	-17.9	-22.9	-21.3	-30.2	-15.8	-14.9	-17.5	-15.6	-8.16
Cash at period end	6.50	4.87	16.6	16.2	14.6	13.0	27.4	17.6	26.0	21.7	17.6	25.1	21.2	23.6	22.5	17.0	13.9	16.7	7.37	19.5	11.7	9.82	10.5	16.3	8.00	10.3	12.7	7.88	3.27	7.00

Profitability

Quarterly · %

Gross margin 47.6% Operating margin 25.4% Net margin 22.5%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
Gross margin	—	—	—	—	—	—	—	—	—	—	—	30.6%	31.9%	31.9%	31.3%	37.5%	34.6%	41.6%	42.2%	36.0%	51.0%	51.6%	46.5%	56.1%	49.7%	50.6%	53.6%	50.0%	49.8%	47.6%
Operating margin	18.6%	24.3%	16.3%	17.2%	18.2%	17.0%	14.6%	14.6%	18.0%	14.7%	15.2%	-1.2%	5.3%	22.4%	4.4%	19.8%	14.9%	53.4%	18.2%	21.1%	60.9%	42.4%	48.0%	56.4%	40.4%	36.9%	34.2%	28.6%	25.3%	25.4%
Net margin	12.0%	18.5%	12.8%	14.7%	12.6%	11.5%	12.9%	14.4%	16.2%	14.5%	6.7%	-8.7%	-5.9%	0.5%	-3.5%	11.9%	4.5%	26.0%	10.9%	-4.4%	41.7%	38.7%	24.5%	31.7%	27.2%	25.4%	22.3%	-1.5%	7.0%	22.5%

Returns & leverage

Quarterly · %

ROE 25.6% ROA 9.1% Debt ratio 65.8%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
ROE	—	—	—	17.9%	20.9%	18.1%	13.8%	14.1%	15.2%	16.2%	12.9%	6.8%	-2.3%	-7.0%	-11.7%	-5.1%	4.8%	10.4%	18.4%	18.6%	30.5%	30.9%	42.8%	68.4%	74.1%	61.3%	61.6%	47.0%	31.6%	25.6%
ROA	—	—	—	8.4%	9.0%	8.4%	6.2%	7.7%	8.1%	8.7%	7.5%	—	-1.1%	-3.3%	-5.3%	-1.6%	1.5%	3.3%	5.9%	5.4%	9.7%	10.6%	15.1%	22.3%	25.3%	23.1%	23.3%	17.9%	11.0%	9.1%
Debt ratio	—	—	—	—	—	—	—	—	—	—	—	—	68.6%	—	67.6%	66.2%	67.0%	67.9%	67.7%	75.8%	68.5%	61.5%	60.0%	58.9%	62.7%	62.4%	63.6%	64.5%	67.3%	65.8%

EPS

Quarterly · US$

EPS US$0.37

Show table：EPS

Item	2009Q1	2009Q2	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2015Q1	2015Q1	2015Q1	2015Q4	2016Q4	2017Q2	2017Q4	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q2	2021Q4	2022Q2	2022Q4	2023Q2	2023Q4	2024Q2	2024Q4	2025Q2
EPS（US$）	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.52	—	2.81	0.45	0.90	-0.03	0.24	0.37

Revenue & profit

Year-to-date · In bn (USD)

Revenue 235 bn Net income 8.38 bn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In bn (USD)

Total assets 215 bn Total liabilities 142 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In bn (USD)

Operating 53.9 bn Investing -41.1 bn Financing -1.50 bn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Operating margin 8.8% Net margin 3.6%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 25.6% ROA 9.1% Debt ratio 65.8%

Revenue & profit

Annual · In bn (USD)

Revenue 151 bn Net income 19.5 bn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2009	2010
Revenue	116	151
Operating income	21.9	24.2
Net income	16.8	19.5

Balance sheet

Annual · In bn (USD)

Total assets 309 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2009	2010
Current assets	42.6	63.9
Total assets	200	309
Current liabilities	31.0	33.5
Equity	94.1	181

Cash flow

Annual · In bn (USD)

Operating 28.5 bn Investing -63.0 bn Financing 35.4 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2009	2010
Operating	24.9	28.5
Investing	-35.1	-63.0
Financing	16.9	35.4
Cash at period end	16.2	17.6

Profitability

Annual · %

Operating margin 16.0% Net margin 12.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2009	2010
Operating margin	18.9%	16.0%
Net margin	14.5%	12.9%

Returns & leverage

Annual · %

ROE 14.1% ROA 7.7%

Show table：Returns & leverage

Item	2009	2010
ROE	17.9%	14.1%
ROA	8.4%	7.7%

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	20-F
2025	Open full text →
2024	Open full text →
2023	Open full text →

20-F: annual report of a foreign private issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read PETROBRAS - PETROLEO BRASILEIRO SA (PBR) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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