(UGP) Ultrapar Participacoes - Overview
Sector: Energy | Industry: Oil & Gas Refining & Marketing | Exchange: NYSE (USA) | Market Cap: 6.252m USD | Total Return: 92.3% in 12m
Avg Turnover: 17.8M
EPS Trend: 76.5%
Qual. Beats: 0
Rev. Trend: 81.5%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Confidence
Ultrapar Participações S.A. (UGP) is a Brazilian conglomerate operating across the energy, mobility, and logistics sectors. Its core business segments include Ultragaz (LPG distribution), Ipiranga (fuel distribution and convenience stores), Ultracargo (liquid bulk storage), and Hidrovias (waterway logistics). The company maintains a vertically integrated presence in the oil and gas value chain, ranging from fuel retailing and lubricants to extensive port and pipeline infrastructure.
The fuel distribution sector in Brazil is characterized by high volume and thin margins, where competitive advantage is often derived from logistical efficiency and terminal network density. Ultrapar leverages its Ipiranga brand to capture retail market share while utilizing its storage and waterway assets to optimize the transportation of biofuels, grains, and minerals. This multi-modal infrastructure model allows the company to serve diverse end-markets, including industrial, agribusiness, and residential consumers.
For a detailed breakdown of the companys valuation metrics and historical performance, you may find ValueRays analytical tools useful. Founded in 1937 and headquartered in São Paulo, the company remains a significant player in South American energy infrastructure and international commodity logistics.
- Ipiranga fuel distribution margins drive consolidated earnings and market share stability
- Brazilian diesel and gasoline price parity volatility impacts domestic refining spreads
- Ultragaz residential LPG demand remains tied to Brazilian household purchasing power
- Infrastructure expansion at Ultracargo terminals increases recurring logistics service revenue
- Brazilian Real exchange rate fluctuations affect import costs and debt servicing
| Net Income: 2.96b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 14.22 > 1.0 |
| NWC/Revenue: 1.16% < 20% (prev 4.60%; Δ -3.44% < -1%) |
| CFO/TA 0.34 > 3% & CFO 3.51b > Net Income 2.96b |
| Net Debt (16.3b) to EBITDA (8.79b): 1.85 < 3 |
| Current Ratio: 1.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.09b) vs 12m ago -1.62% < -2% |
| Gross Margin: 7.13% > 18% (prev 0.06%; Δ 706.3% > 0.5%) |
| Asset Turnover: 601.8% > 50% (prev 361.4%; Δ 240.4% > 0%) |
| Interest Coverage Ratio: 2.45 > 6 (EBITDA TTM 8.79b / Interest Expense TTM 2.89b) |
| A: 0.16 (Total Current Assets 4.17b - Total Current Liabilities 2.50b) / Total Assets 10.3b |
| B: 0.17 (Retained Earnings 1.71b / Total Assets 10.3b) |
| C: 0.30 (EBIT TTM 7.08b / Avg Total Assets 24.0b) |
| D: 0.53 (Book Value of Equity 3.47b / Total Liabilities 6.54b) |
| Altman-Z'' = 4.15 = AA |
| DSRI: 0.21 (Receivables 1.62b/7.15b, Revenue 144b/136b) |
| GMI: 0.89 (GM 7.13% / 6.37%) |
| AQI: 0.84 (AQ_t 0.32 / AQ_t-1 0.38) |
| SGI: 1.06 (Revenue 144b / 136b) |
| TATA: -0.05 (NI 2.96b - CFO 3.51b) / TA 10.3b) |
| Beneish M = -3.87 (Cap -4..+1) = AAA |
As of May 29, 2026, the stock is trading at USD 5.33 with a total of 2,954,682 shares traded.
Over the past week, the price has changed by -7.94%,
over one month by -9.35%,
over three months by +5.54% and
over the past year by +92.27%.
Ultrapar Participacoes has received a consensus analysts rating of 3.83. Therefore, it is recommended to buy UGP.
- StrongBuy: 1
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 6.4 | 19.5% |
Market Cap BRL = 31.5b (6.25b USD * 5.039 USD.BRL)
P/E Trailing = 10.3393
P/E Forward = 11.8064
P/S = 0.0429
P/B = 1.9016
P/EG = 0.7813
Revenue TTM = 144b BRL
EBIT TTM = 7.08b BRL
EBITDA TTM = 8.79b BRL
Long Term Debt = 15.1b BRL (from longTermDebt, last quarter)
Short Term Debt = 936.9m BRL (from shortTermDebt, last quarter)
Debt = 17.7b BRL (corrected: LT Debt 15.1b + ST Debt 936.9m) + Leases 1.69b
Net Debt = 16.3b BRL (calculated: Debt 17.7b - CCE 1.44b)
Enterprise Value = 47.8b BRL (31.5b + Debt 17.7b - CCE 1.44b)
Interest Coverage Ratio = 2.45 (Ebit TTM 7.08b / Interest Expense TTM 2.89b)
EV/FCF = 24.96x (Enterprise Value 47.8b / FCF TTM 1.91b)
FCF Yield = 4.01% (FCF TTM 1.91b / Enterprise Value 47.8b)
FCF Margin = 1.32% (FCF TTM 1.91b / Revenue TTM 144b)
Net Margin = 2.05% (Net Income TTM 2.96b / Revenue TTM 144b)
Gross Margin = 7.13% ((Revenue TTM 144b - Cost of Revenue TTM 134b) / Revenue TTM)
Gross Margin QoQ = 8.69% (prev 6.83%)
Tobins Q-Ratio = 4.66 (Enterprise Value 47.8b / Total Assets 10.3b)
Interest Expense / Debt = 16.34% (Interest Expense 2.89b / Debt 17.7b)
Taxrate = 35.28% (480.0m / 1.36b)
NOPAT = 4.58b (EBIT 7.08b * (1 - 35.28%))
Current Ratio = 1.67 (Total Current Assets 4.17b / Total Current Liabilities 2.50b)
Debt / Equity = 5.35 (Debt 17.7b / totalStockholderEquity, last quarter 3.31b)
Debt / EBITDA = 1.85 (Net Debt 16.3b / EBITDA 8.79b)
Debt / FCF = 8.50 (Net Debt 16.3b / FCF TTM 1.91b)
Total Stockholder Equity = 12.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.35% (Net Income 2.96b / Total Assets 10.3b)
RoE = 23.06% (Net Income TTM 2.96b / Total Stockholder Equity 12.9b)
RoCE = 25.36% (EBIT 7.08b / Capital Employed (Equity 12.9b + L.T.Debt 15.1b))
RoIC = 52.79% (NOPAT 4.58b / Invested Capital 8.68b)
WACC = 9.09% (E(31.5b)/V(49.2b) * Re(8.25%) + D(17.7b)/V(49.2b) * Rd(16.34%) * (1-Tc(0.35)))
Discount Rate = 8.25% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -42.22 | Cagr: -0.51%
[DCF] Terminal Value 75.45% ; FCFF base≈1.82b ; Y1≈2.07b ; Y5≈2.98b
[DCF] Fair Price = 21.98 (EV 39.8b - Net Debt 16.3b = Equity 23.5b / Shares 1.07b; r=9.09% [WACC]; 5y FCF grow 13.98% → 2.50% )
EPS Correlation: 76.54 | EPS CAGR: 71.82% | SUE: 0.27 | # QB: 0
Revenue Correlation: 81.52 | Revenue CAGR: 4.30% | SUE: -0.17 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.14 | Chg30d=N/A | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.14 | Chg30d=N/A | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=0.64 | Chg30d=+51.71% | Revisions=+20% | GrowthEPS=+150.1% | GrowthRev=+9.2%
EPS next Year (2027-12-31): EPS=0.59 | Chg30d=+20.73% | Revisions=N/A | GrowthEPS=-6.9% | GrowthRev=+0.7%
[Analyst] Revisions Ratio: +20%