PRIO3—60

Prio SA

Oil & Gas Exploration and ProductionVerified

Score breakdown

Profitability+21Sentiment+21Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion99AI synthesis40Observations23

Prio SA has a debt-to-equity ratio of 1.1, indicating a moderate reliance on debt financing, and a return on equity of 8.73%, which is a measure of the company's profitability relative to shareholders' equity [doc:HA-latest]. The company's liquidity is assessed as medium, and its free cash flow is negative at -9.24 billion BRL, suggesting that the company is currently investing more in capital expenditures than it is generating in operating cash flow [doc:HA-latest]. In terms of profitability, Prio SA's return on assets of 3.51% indicates that the company is generating a relatively modest return on its total assets compared to industry benchmarks [doc:HA-latest]. The company's operating income of 1.81 billion BRL and net income of 2.25 billion BRL reflect its ability to generate earnings despite the capital-intensive nature of the oil and gas exploration and production industry [doc:HA-latest]. Prio SA's revenue is primarily derived from its operations in Brazil, with a significant portion coming from the Tubarao Martelo Field, which produces approximately 10,000 barrels of oil per day [doc:HA-latest]. The company's geographic exposure is concentrated in Brazil, and its revenue is heavily dependent on the performance of its oil and gas fields, particularly the Tubarao Martelo Field and the Wahoo exploratory block [doc:HA-latest]. The company's growth trajectory is influenced by its capital expenditures and exploration activities. Prio SA's capital expenditures of -17.20 billion BRL indicate a significant investment in the development of its oil and gas fields [doc:HA-latest]. The company's outlook for the current fiscal year is shaped by its exploration and production activities, with the potential for increased production from the Wahoo block in the Campos Basin [doc:HA-latest]. Prio SA faces several risk factors, including liquidity risk due to its negative net cash position after subtracting total debt [doc:HA-latest]. The company's dilution risk is assessed as low, and there are no significant dilution pressures in the near term [doc:HA-latest]. The company's risk assessment indicates that it is managing its capital structure and liquidity effectively, but it remains exposed to the volatility of oil prices and the costs associated with exploration and production activities [doc:HA-latest]. Recent events and filings indicate that Prio SA is actively managing its operations and capital structure. The company's recent financial performance and strategic initiatives are reflected in its capital expenditures and exploration activities [doc:HA-latest]. The company's management has emphasized the importance of cost rationalization and efficiency in its operations, which are key drivers of its value creation strategy [doc:HA-latest].

Profile

CompanyPrio SA

TickerPRIO3.SA

SectorEnergy

BusinessEnergy - Fossil Fuels

Industry groupEnergy - Fossil Fuels

IndustryOil & Gas Exploration and Production

AI analysis

Business. Prio SA is a Brazil-based holding company that specializes in the efficient reservoir management and redevelopment of mature oil and gas fields, primarily through the acquisition of fields from large oil companies and the creation of value through cost rationalization and meticulous reservoir management [doc:HA-latest].

Classification. Prio SA is classified under the Energy - Fossil Fuels business sector, specifically in the Oil & Gas Exploration and Production industry, with a classification confidence of 0.92 [doc:verified market data].

Key takeaways

Prio SA has a moderate debt-to-equity ratio of 1.1, indicating a balanced capital structure.
The company's return on equity of 8.73% suggests that it is generating a reasonable return for its shareholders.
Prio SA's free cash flow is negative at -9.24 billion BRL, indicating that the company is currently investing heavily in its operations.
The company's revenue is heavily concentrated in Brazil, with a significant portion coming from the Tubarao Martelo Field.
Prio SA's capital expenditures of -17.20 billion BRL reflect its commitment to the development of its oil and gas fields.
The company's liquidity is assessed as medium, and it faces some liquidity risk due to its negative net cash position after subtracting total debt.
# RATIONALES
```json

Financial snapshot

PeriodHA-latest

CurrencyBRL

Revenue$15.58B

Gross profit$3.11B

Operating income$1.81B

Net income$2.25B

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$8.18B

CapEx-$17.20B

Free cash flow-$9.24B

Total assets$64.18B

Total liabilities$38.40B

Total equity$25.78B

Cash & equivalents—

Long-term debt$28.44B

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$15.58B$1.81B$2.25B-$9.24B

FY-1$14.36B$6.95B$10.30B-$1.82B

FY-2$11.91B$7.16B$5.18B-$6.03B

FY-3$6.36B$3.92B$3.43B$4.29B

FY-4$4.40B$2.12B$1.33B$1.90B

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$64.18B$25.78B——

FY-1$55.75B$25.92B——

FY-2$28.31B$13.88B——

FY-3$20.30B$9.89B——

FY-4$12.22B$6.62B——

PeriodOCFCapExFCFSBC

FY0$8.18B-$17.20B-$9.24B—

FY-1$9.67B-$14.80B-$1.82B—

FY-2$7.74B-$13.32B-$6.03B—

FY-3$4.93B—$4.29B—

FY-4$2.18B-$311.4M$1.90B—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$4.25B$63.2M-$850.6M-$9.57B

FQ-1$3.56B$602.1M$348.7M-$182.5M

FQ-2$3.33B$77.7M$680.7M-$1.38B

FQ-3$4.44B$1.07B$2.07B$1.89B

FQ-4$2.99B$1.45B$6.95B-$3.40B

FQ-5$3.58B$1.25B$887.1M-$40.8M

FQ-6$4.60B$2.52B$1.42B$1.20B

FQ-7$3.20B$1.72B$1.05B$227.9M

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0$64.18B$25.78B——

FQ-1$59.73B$25.95B——

FQ-2$55.44B$26.18B——

FQ-3$54.79B$26.60B——

FQ-4$55.75B$25.92B——

FQ-5$43.30B$18.19B——

FQ-6$37.29B$17.77B——

FQ-7$30.78B$15.40B——

PeriodOCFCapExFCFSBC

FQ0$8.18B-$17.20B-$9.57B—

FQ-1$5.15B-$6.61B-$182.5M—

FQ-2$3.62B-$5.11B-$1.38B—

FQ-3$256.8M-$1.59B$1.89B—

FQ-4$9.67B-$14.80B-$3.40B—

FQ-5$6.40B-$3.67B-$40.8M—

FQ-6$3.22B-$2.17B$1.20B—

FQ-7$1.61B-$1.48B$227.9M—

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$25.78B

Net cash-$28.44B

Current ratio—

Debt/Equity1.1

ROA3.5%

ROE8.7%

Cash conversion3.6%

CapEx/Revenue-1.1%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Oil & Gas · cohort 184 companies

MetricPRIO3Activity

Op margin11.6%15.4% medp25 -3260.6% · p75 43.2%below median

Net margin14.4%24.1% medp25 -1.6% · p75 41.0%below median

Gross margin20.0%20.0% medp25 5.5% · p75 48.5%above median

R&D / revenue—2.5% medp25 2.5% · p75 2.5%

CapEx / revenue-110.3%-14.7% medp25 -50.8% · p75 -1.4%bottom quartile

Debt / equity110.0%37.1% medp25 26.9% · p75 69.5%top quartile

Observations

IR observations

Mean price target65.47 BRL

Median price target68.00 BRL

High price target82.00 BRL

Low price target51.00 BRL

Mean recommendation2.00 (1=strong buy, 5=strong sell)

Strong-buy count2.00

Buy count8.00

Hold count2.00

Sell count0.00

Strong-sell count0.00

Mean EPS estimate9.77 BRL

Last actual EPS2.77 BRL

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-01 11:04 UTC#d969a812

Market quoteclose BRL 66.38 · shares 0.81B diluted

no public URL

2026-04-30 01:58 UTC#70cb66f1

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 11:05 UTCJob: 6ef17e15