Ultrapar Participações S.A.(UGP)Earnings, Financials & Key Ratios
UGP•NYSE
$5.45
12.8× P/E·Price updated Jul 7, 2026
AboutUltrapar Participações S.A. engages in the gas distribution, fuel distribution, and storage businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. Its Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers primarily in the South, Southeast, and Northeast regions of Brazil. The company's Fuel Distribution segment distributes and markets gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; operates convenience stores; and offers lubricant-changing and automotive specialized services. The company's Storage segment operates liquid bulk terminals primarily in the Southeast and Northeast regions of Brazil. As of December 31, 2021, the company operated through 7,104 Ipiranga service stations and 1,841 AmPm convenience stores; 1,149 Jet Oil franchises; 4 distribution centers; and 7 Ultracargo terminals with storage capacity of 983 thousand cubic meters. It also operates Abastece Aí, a digital payments app; and offers Km de Vantagens, a loyalty program. The company was founded in 1937 and is headquartered in São Paulo, Brazil.Show more
- Revenue$142.37B+6.6%
- EBITDA$6.44B+2.4%
- Net Income$2.45B+3.9%
- EPS (Diluted)2.19+3.8%
- Gross Margin6.57%+1.9%
- EBITDA Margin4.52%-3.9%
- Operating Margin3.41%-10.3%
- Net Margin1.72%-2.6%
- ROE14.63%-7.6%
UGP Price & Volume
Ultrapar Participações S.A. (UGP) stock price & volume — 10-year historical chart
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Strategic Asset Realignment Drives Operational Margin Recovery
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Commodity price volatility exposure
Key Thesis Takeaways
- Ultrapar has successfully pivoted toward core energy and logistics, evidenced by a simplified corporate structure and a 10.3% year-over-year revenue growth in 2026Q1.
- While the company maintains a disciplined debt-to-equity ratio of 1.14, investors should monitor the inherent volatility in cash conversion, which saw an OCF/NI ratio swing from 0.01 to 5.38 within the last year.
- Future performance remains contingent on managing thin gross margins, which peaked at 8.6% in 2026Q1, and navigating the competitive risks posed by unbranded fuel distributors.
Verdict Logic
while the forward P/E of 1.76 and 7.6% dividend yield appear attractive, the extreme volatility in cash conversion and thin 8.6% gross margins warrant a cautious approach.
UGP Growth Metrics
Ultrapar Participações S.A. (UGP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.53%
5 Years13.96%
3 Years-0.29%
TTM6.86%
Profit CAGR
10 Years5.02%
5 Years22.39%
3 Years10.86%
TTM32.35%
EPS CAGR
10 Years4.8%
5 Years21.71%
3 Years10.12%
TTM33.99%
Return on Capital
10 Years13.26%
5 Years14.04%
3 Years16.77%
Last Year14.38%
UGP Recent Earnings
Ultrapar Participações S.A. (UGP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (55%)●Beat Revenue 5/12 qtrs (45%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.15+7.1%
$0.14
Rev
$7.3B-2.0%
$7.5B
Q2 2026
Mar 4, 2026Metric
Actual
Est
EPS
$0.06-14.3%
$0.07
Rev
$7.6B+11.9%
$6.8B
Q4 2025
Nov 12, 2025Metric
Actual
Est
EPS
$0.12+33.3%
$0.09
Rev
$6.9B+9.0%
$6.4B
Q3 2025
Aug 13, 2025Metric
Actual
Est
EPS
$0.17+183.3%
$0.06
Rev
$6.3B-1.7%
$6.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.15vs $0.14+7.1% | $7.3Bvs $7.5B-2.0% |
| Q2 2026 | Mar 4, 2026 | $0.06vs $0.07-14.3% | $7.6Bvs $6.8B+11.9% |
| Q4 2025 | Nov 12, 2025 | $0.12vs $0.09+33.3% | $6.9Bvs $6.4B+9.0% |
| Q3 2025 | Aug 13, 2025 | $0.17vs $0.06+183.3% | $6.3Bvs $6.4B-1.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Ultrapar Participações S.A. (UGP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $5.45 | $5.83B | 12.78 | 6.64% | 1.72% | 14.63% | 6.95% | |
| $5.72 | $19.55B | 12.14 | 3.32% | 22.04% | 20.21% | — | |
| $2.10 | $6.01B | 6.34 | 7.36% | 9.86% | 8.81% | — | |
| $14.69 | $64.11B | 25.33 | 0.46% | 7.06% | 7.22% | — | |
| $16.66 | $107.36B | 5.34 | -0.67% | 21.81% | 25.81% | — | |
| $266.33 | $77.75B | 20.07 | -4.44% | 3.41% | 19.57% | — |
Compare UGP vs Peers
Ultrapar Participações S.A. (UGP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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UGP Frequently Asked Questions
Ultrapar Participações S.A. (UGP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Ultrapar Participações S.A.'s revenue?
Ultrapar Participações S.A. (UGP) reported $145.79B in revenue for fiscal year 2025. This represents a 8459% increase from $1.70B in 1999.
How fast is Ultrapar Participações S.A. growing?
Ultrapar Participações S.A. (UGP) grew revenue by 6.6% over the past year. This is steady growth.
Is UGP profitable?
Yes, Ultrapar Participações S.A. (UGP) is profitable, generating $3.00B in net income for fiscal year 2025 (1.7% net margin).
Dividend & Returns
Does UGP pay dividends?
Yes, Ultrapar Participações S.A. (UGP) pays a dividend with a yield of 6.95%. This makes it attractive for income-focused investors.
What is UGP's return on equity?
Ultrapar Participações S.A. (UGP) has a return on equity (ROE) of 14.6%. This is reasonable for most industries.
What is Ultrapar Participações S.A.'s free cash flow?
Ultrapar Participações S.A. (UGP) generated $1.91B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.