GGB vs. PBR

Last updated Apr 3, 2026

Compare and contrast key facts about Gerdau S.A. (GGB) and Petróleo Brasileiro S.A. - Petrobras (PBR).

Performance

GGB vs. PBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gerdau S.A. (GGB) and Petróleo Brasileiro S.A. - Petrobras (PBR). The values are adjusted to include any dividend payments, if applicable.

GGB vs. PBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGB Gerdau S.A.	2.99%	32.78%	-25.80%	-1.92%	28.40%	18.51%	-3.34%	33.07%	2.53%	18.92%
PBR Petróleo Brasileiro S.A. - Petrobras	73.50%	-1.01%	-8.38%	71.48%	47.76%	20.44%	-28.83%	24.65%	27.68%	1.78%

Fundamentals

Market Cap GGB : $7.47B PBR : $132.50B
EPS GGB : $0.69 PBR : $3.12
PE Ratio GGB : 5.44 PBR : 6.59
PS Ratio GGB : 0.11 PBR : 1.46
PB Ratio GGB : 0.14 PBR : 1.75
Total Revenue (TTM) GGB : $69.86B PBR : $90.81B
Gross Profit (TTM) GGB : $7.97B PBR : $43.25B
EBITDA (TTM) GGB : $9.29B PBR : $43.02B

Returns By Period

In the year-to-date period, GGB achieves a 2.99% return, which is significantly lower than PBR's 73.50% return. Over the past 10 years, GGB has underperformed PBR with an annualized return of 15.58%, while PBR has yielded a comparatively higher 26.58% annualized return.

GGB

• 1D: -0.26%
• 1M: 2.72%
• YTD: 2.99%
• 6M: 20.48%
• 1Y: 36.41%
• 3Y*: 1.53%
• 5Y*: 6.61%
• 10Y*: 15.58%

PBR

• 1D: 2.39%
• 1M: 21.23%
• YTD: 73.50%
• 6M: 68.74%
• 1Y: 53.49%
• 3Y*: 38.06%
• 5Y*: 45.50%
• 10Y*: 26.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

GGB vs. PBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGB

GGB Risk / Return Rank: 67
GGB Sharpe Ratio Rank: 72
GGB Sortino Ratio Rank: 67
GGB Omega Ratio Rank: 64
GGB Calmar Ratio Rank: 64
GGB Martin Ratio Rank: 69

PBR

PBR Risk / Return Rank: 79
PBR Sharpe Ratio Rank: 85
PBR Sortino Ratio Rank: 79
PBR Omega Ratio Rank: 80
PBR Calmar Ratio Rank: 79
PBR Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GGB vs. PBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gerdau S.A. (GGB) and Petróleo Brasileiro S.A. - Petrobras (PBR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GGB	PBR	Difference
Sharpe ratio Return per unit of total volatility	1.00	1.63	-0.63
Sortino ratio Return per unit of downside risk	1.54	2.14	-0.59
Omega ratio Gain probability vs. loss probability	1.19	1.30	-0.11
Calmar ratio Return relative to maximum drawdown	1.21	2.39	-1.19
Martin ratio Return relative to average drawdown	3.74	4.69	-0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGB vs. PBR - Sharpe Ratio Comparison

The current GGB Sharpe Ratio is 1.00, which is lower than the PBR Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of GGB and PBR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GGB	PBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.63	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	1.20	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.56	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.21	+0.08

Correlation

The correlation between GGB and PBR is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GGB vs. PBR - Dividend Comparison

GGB's dividend yield for the trailing twelve months is around 3.03%, less than PBR's 4.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGB Gerdau S.A.	3.03%	3.05%	5.07%	6.63%	12.79%	11.48%	1.33%	1.48%	1.60%	0.34%	0.38%	4.15%
PBR Petróleo Brasileiro S.A. - Petrobras	4.09%	7.10%	14.73%	10.91%	55.64%	18.95%	0.84%	1.59%	1.03%	0.00%	0.00%	0.00%

Drawdowns

GGB vs. PBR - Drawdown Comparison

The maximum GGB drawdown since its inception was -96.39%, roughly equal to the maximum PBR drawdown of -95.62%. Use the drawdown chart below to compare losses from any high point for GGB and PBR.

Drawdown Indicators

	GGB	PBR	Difference
Max Drawdown Largest peak-to-trough decline	-96.39%	-95.62%	-0.77%
Max Drawdown (1Y) Largest decline over 1 year	-28.28%	-19.91%	-8.37%
Max Drawdown (5Y) Largest decline over 5 years	-51.23%	-39.62%	-11.61%
Max Drawdown (10Y) Largest decline over 10 years	-67.55%	-75.13%	+7.58%
Current Drawdown Current decline from peak	-66.23%	-15.47%	-50.76%
Average Drawdown Average peak-to-trough decline	-52.27%	-52.98%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.11%	11.24%	-2.13%

Volatility

GGB vs. PBR - Volatility Comparison

Gerdau S.A. (GGB) and Petróleo Brasileiro S.A. - Petrobras (PBR) have volatilities of 11.69% and 11.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGB	PBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.69%	11.73%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	24.17%	22.30%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	36.78%	33.05%	+3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.17%	38.04%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.32%	47.66%	+0.66%

Financials

GGB vs. PBR - Profitability Comparison

The chart below illustrates the profitability comparison between Gerdau S.A. and Petróleo Brasileiro S.A. - Petrobras over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GGB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Gerdau S.A. reported a gross profit of 1.85B and revenue of 16.97B. Therefore, the gross margin over that period was 10.9%.

PBR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Petróleo Brasileiro S.A. - Petrobras reported a gross profit of 11.64B and revenue of 25.22B. Therefore, the gross margin over that period was 46.1%.

GGB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Gerdau S.A. reported an operating income of 1.34B and revenue of 16.97B, resulting in an operating margin of 7.9%.

PBR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Petróleo Brasileiro S.A. - Petrobras reported an operating income of 5.24B and revenue of 25.22B, resulting in an operating margin of 20.8%.

GGB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Gerdau S.A. reported a net income of -1.30B and revenue of 16.97B, resulting in a net margin of -7.7%.

PBR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Petróleo Brasileiro S.A. - Petrobras reported a net income of 3.36B and revenue of 25.22B, resulting in a net margin of 13.3%.