Ultrapar Participações S.A. (UGP) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 525.5M | 1.74B | 328M | 917.9M | 3.02M | 2.23B | 780.47M | 221.84M | -579.92M | 1.76B | 1.9B | 95.71M | -711.25M | 1.52B | 1.29B | -75.25M | -219.58M | 703.52M | 604.37M | 1.15B |
| Operating CF Margin % | 1.43% | 4.58% | 0.89% | 2.7% | 0.01% | 6.3% | 2.21% | 0.69% | -1.91% | 5.27% | 5.85% | 0.32% | -2.33% | 4.22% | 3.29% | -0.2% | -0.7% | 12.32% | 2.05% | 4.36% |
| Operating CF Growth % | 17306.37% | -22.02% | -57.97% | 313.77% | 100.52% | 26.64% | -58.95% | 131.78% | 18.46% | 15.99% | 47.09% | 227.18% | -223.91% | 115.85% | 113.9% | -106.55% | -270.98% | 38.54% | -26.97% | 32.03% |
| Net Income | 843.02M | 513.98M | 130.54M | 1.17B | 363.18M | 880.82M | 698.42M | 84M | 455.45M | 1.11B | 891.24M | 43.2M | 273.82M | 844.03M | 180.31M | 79.14M | 20.65M | 325.17M | 161.49M | 125.17M |
| Depreciation & Amortization | 421.6M | 442.37M | 83.04M | 393.87M | 304.07M | 462.02M | 447.1M | 62.14M | 279.77M | 320.65M | 281.44M | 56.82M | 271.41M | 470.3M | 191.31M | 51.16M | 47.48M | -100.7M | 166.85M | 163.05M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 34.03M | 24.25M | 0 | 0 | 0 | 0 | 0 | 9.73M | 10.23M | 12.57M | 0 | 0 | 0 | 996K | 3.98M |
| Deferred Taxes | 5.85M | -123.19M | 1.44M | 354.04M | 247.87M | 776.07M | 307.78M | -23.18M | 209.13M | 716.03M | 386.28M | -21.32M | 92.42M | 404.76M | 46.72M | -31.96M | -10.23M | 292.92M | -44.85M | 51.37M |
| Other Non-Cash Items | 482.41M | -490.56M | 110.63M | -117.68M | 351.31M | 294.69M | 16.33M | 144.58M | 131.48M | -269.91M | 319.08M | 130.35M | 307.07M | -91.78M | 253.87M | 56.55M | 78.96M | 404.02M | 445.36M | 772.05M |
| Working Capital Changes | -1.23B | 1.4B | 2.34M | -884.25M | -1.26B | -217.03M | -713.4M | -45.71M | -1.66B | -119.42M | 23.38M | -113.34M | -1.67B | -121.41M | 607.95M | -230.14M | -356.43M | -217.88M | -125.47M | 34.03M |
| Change in Receivables | -392.52M | -156.62M | 7.35M | -563.15M | 315.61M | -1.18B | 270.12M | -129.44M | 541.22M | -661.9M | -826.99M | 67.52M | 403.11M | -141.53M | -114.4M | -71.24M | -106.3M | -480.31M | -411.59M | -303.82M |
| Change in Inventory | -286.09M | -409.96M | 40.08M | 259.97M | -216.48M | 826.71M | -752.73M | 75.4M | -77.21M | -374.22M | -215.35M | 29.92M | 1.13B | -584.56M | 1.67B | -355.66M | -60.07M | 91.86M | -474.02M | -401.89M |
| Change in Payables | -180.72M | 1.19B | 40.1M | -519.61M | -998.12M | 190.48M | -342.9M | 59.3M | -1.34B | 697.41M | 1.05B | -157.75M | -2.76B | 1.29B | -581.24M | 265.36M | -96.25M | 300.27M | 700.52M | 783.23M |
| Cash from Investing | 453.11M | -2.78B | -217.6M | 391.01M | 827.27M | -3.25B | -241.53M | -220.2M | -1.78B | -566.16M | -451.9M | -28.37M | 145.54M | 397.14M | 184.6M | 1.09B | 358.64M | -489.91M | 213.95M | -447.3M |
| Capital Expenditures | -354.6M | -675.54M | -88.2M | -478.69M | -381.89M | -687.91M | -415.92M | -71.18M | -326.2M | -269.87M | -306.79M | -48.51M | -259.16M | -368M | -371.64M | -56.14M | -38.99M | -150.68M | -317.01M | -306.55M |
| CapEx % of Revenue | 0.96% | 1.78% | 0.24% | 1.41% | 1.15% | 1.94% | 1.18% | 0.22% | 1.07% | 0.81% | 0.94% | 0.16% | 0.85% | 1.02% | 0.95% | 0.15% | 0.12% | 2.64% | 1.08% | 1.16% |
| Acquisitions | 12.52M | 356.71M | 92.73M | 1.21B | -49.74M | 0 | 522K | 178.22M | 0 | 3.13M | 0 | 9.75M | -47.46M | -5.99M | -12M | 455.93M | 0 | -1K | -2.2M | -7M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -257.19M | -335.86M | -112.34M | -335.55M | 1.26B | 0 | 0 | -221.64M | 0 | -274.69M | 0 | -311.66K | -38.14M | 475.42M | 6.22M | 719.33M | 227.45M | -151.6M | 45.55M | -264.01M |
| Cash from Financing | -244.54M | 1.64B | -166.73M | 170.41M | -1.44B | -795.94M | -514.31M | 19.03M | 178.91M | -1.3B | -792.92M | 124.67M | -668.51M | -917.89M | -1.59B | -616.05M | -122.29M | -385.65M | -885.89M | -1.77B |
| Debt Issued (Net) | -82.57M | 3.06B | -44.29M | 1.02B | -449.39M | -145.59M | -8.78M | 49.46M | 1.14B | -721.51M | -287.59M | 156.88M | -225.23M | -466.88M | -891M | -621.37M | -861.97K | 440.75M | -209.07M | -1.43B |
| Equity Issued (Net) | 0 | 8.97M | -10.53M | -147.56M | -96.77M | -148.94M | 0 | 2.71M | 0 | 0 | 0 | 4.95K | -26K | 0 | 0 | 296.52K | 3.99M | 0 | 0 | 0 |
| Dividends Paid | -1.52M | -1.27B | -73.51M | -10.19M | -487.5M | -52.48M | -319.98M | -3.97M | -437.52M | -73K | -291.23M | -889.87K | -108.71M | -3.6M | -393.6M | -13.5M | -34.35M | -116K | -217.04M | -11.16M |
| Share Repurchases | 0 | 8.97M | -7.29M | -147.56M | -96.77M | -148.94M | 0 | 0 | 0 | 0 | 0 | 4.95K | -26K | -15K | -81K | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -160.44M | -159.71M | -38.4M | -692.53M | -408.77M | -448.93M | -185.55M | -29.18M | -524M | -581.03M | -214.1M | -31.32M | -334.54M | -447.41M | -309.37M | 18.52M | -91.07M | -826.28M | -459.78M | -319.15M |
| Net Change in Cash | 970.07M | 567.42M | -55.04M | 1.46B | -635.5M | -1.78B | 24.64M | -59.01M | -2.18B | -111.43M | 659.05M | 254.58M | -1.26B | 995.12M | -118.41M | 426.13M | 64.67M | -158.25M | -33.99M | -1.07B |
| Free Cash Flow | 170.9M | 1.06B | 239.79M | 439.21M | -378.87M | 1.54B | 364.56M | 150.66M | -906.12M | 1.22B | 1.59B | 47.2M | -970.41M | 1.15B | 921.09M | -131.4M | -258.57M | 472.82M | 287.36M | 843.1M |
| FCF Margin % | 0.46% | 2.8% | 0.65% | 1.29% | -1.14% | 4.36% | 1.03% | 0.47% | -2.98% | 3.64% | 4.91% | 0.16% | -3.18% | 3.2% | 2.34% | -0.36% | -0.82% | 8.28% | 0.98% | 3.2% |
| FCF Growth % | 145.11% | -31.04% | -34.22% | 191.53% | 58.19% | 26.78% | -77.14% | 219.17% | 6.63% | 5.76% | 73.13% | 135.92% | -275.29% | 143.34% | 220.54% | -115.59% | -140.4% | 738.22% | -48.8% | 28.09% |
| FCF per Share | 0.16 | 0.98 | 0.22 | 0.40 | -0.34 | 1.39 | 0.33 | 0.13 | -0.82 | 1.11 | 1.44 | 0.04 | -0.88 | 1.05 | 0.84 | -0.12 | -0.24 | 0.43 | 0.26 | 0.77 |
| FCF Conversion (FCF/Net Income) | 0.60x | 5.38x | 0.46x | 0.84x | 0.01x | 2.65x | 1.20x | 0.51x | -1.34x | 1.60x | 2.20x | 0.45x | -2.71x | 1.85x | 7.17x | -0.17x | -0.49x | 10.34x | 1.64x | -36.99x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 33.01M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |