ULTRAPAR PARTICPAC-SPON ADR (UGP) Stock Fundamental Analysis

NYSE:UGP • US90400P1012

4.97 USD
-0.08 (-1.58%)
At close: Mar 2, 2026
4.9423 USD
-0.03 (-0.56%)
After Hours: 3/2/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

UGP gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 123 industry peers in the Specialty Retail industry. UGP has only an average score on both its financial health and profitability. UGP is valued quite cheap, while showing a decent growth score. This is a good combination! Finally UGP also has an excellent dividend rating. These ratings would make UGP suitable for value and dividend investing!


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • UGP had positive earnings in the past year.
  • In the past year UGP had a positive cash flow from operations.
  • Each year in the past 5 years UGP has been profitable.
  • UGP had a positive operating cash flow in each of the past 5 years.
UGP Yearly Net Income VS EBIT VS OCF VS FCFUGP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

1.2 Ratios

  • With a decent Return On Assets value of 6.44%, UGP is doing good in the industry, outperforming 78.86% of the companies in the same industry.
  • UGP has a better Return On Equity (18.26%) than 79.67% of its industry peers.
  • UGP has a Return On Invested Capital of 10.04%. This is in the better half of the industry: UGP outperforms 76.42% of its industry peers.
  • UGP had an Average Return On Invested Capital over the past 3 years of 10.37%. This is below the industry average of 13.61%.
Industry RankSector Rank
ROA 6.44%
ROE 18.26%
ROIC 10.04%
ROA(3y)5.76%
ROA(5y)4.39%
ROE(3y)16.34%
ROE(5y)13.37%
ROIC(3y)10.37%
ROIC(5y)7.58%
UGP Yearly ROA, ROE, ROICUGP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • UGP has a Profit Margin of 2.12%. This is in the better half of the industry: UGP outperforms 61.79% of its industry peers.
  • UGP's Profit Margin has improved in the last couple of years.
  • With a decent Operating Margin value of 3.96%, UGP is doing good in the industry, outperforming 61.79% of the companies in the same industry.
  • UGP's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 7.10%, UGP is doing worse than 91.06% of the companies in the same industry.
  • In the last couple of years the Gross Margin of UGP has remained more or less at the same level.
Industry RankSector Rank
OM 3.96%
PM (TTM) 2.12%
GM 7.1%
OM growth 3Y42.59%
OM growth 5Y11.25%
PM growth 3Y31.69%
PM growth 5Y33.44%
GM growth 3Y17.53%
GM growth 5Y1.18%
UGP Yearly Profit, Operating, Gross MarginsUGP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • UGP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, UGP has less shares outstanding
  • UGP has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, UGP has a worse debt to assets ratio.
UGP Yearly Shares OutstandingUGP Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
UGP Yearly Total Debt VS Total AssetsUGP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • UGP has an Altman-Z score of 4.50. This indicates that UGP is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of UGP (4.50) is better than 83.74% of its industry peers.
  • UGP has a debt to FCF ratio of 9.53. This is a negative value and a sign of low solvency as UGP would need 9.53 years to pay back of all of its debts.
  • UGP has a Debt to FCF ratio (9.53) which is in line with its industry peers.
  • A Debt/Equity ratio of 0.97 indicates that UGP is somewhat dependend on debt financing.
  • The Debt to Equity ratio of UGP (0.97) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 9.53
Altman-Z 4.5
ROIC/WACC0.92
WACC10.87%
UGP Yearly LT Debt VS Equity VS FCFUGP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 1.82 indicates that UGP should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.82, UGP is in the better half of the industry, outperforming 76.42% of the companies in the same industry.
  • A Quick Ratio of 1.38 indicates that UGP should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.38, UGP belongs to the top of the industry, outperforming 83.74% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.82
Quick Ratio 1.38
UGP Yearly Current Assets VS Current LiabilitesUGP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 12.33% over the past year.
  • The Earnings Per Share has been growing by 43.25% on average over the past years. This is a very strong growth
  • UGP shows a small growth in Revenue. In the last year, the Revenue has grown by 5.91%.
  • UGP shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.37% yearly.
EPS 1Y (TTM)12.33%
EPS 3Y39.09%
EPS 5Y43.25%
EPS Q2Q%10.06%
Revenue 1Y (TTM)5.91%
Revenue growth 3Y6.75%
Revenue growth 5Y8.37%
Sales Q2Q%4.74%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.52% on average over the next years.
  • Based on estimates for the next years, UGP will show a small growth in Revenue. The Revenue will grow by 3.28% on average per year.
EPS Next Y0.07%
EPS Next 2Y0.02%
EPS Next 3Y7.52%
EPS Next 5YN/A
Revenue Next Year5.22%
Revenue Next 2Y2.67%
Revenue Next 3Y3.62%
Revenue Next 5Y3.28%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
UGP Yearly Revenue VS EstimatesUGP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50B 100B 150B
UGP Yearly EPS VS EstimatesUGP Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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7

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 9.38 indicates a reasonable valuation of UGP.
  • Based on the Price/Earnings ratio, UGP is valued cheaply inside the industry as 91.06% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 27.13, UGP is valued rather cheaply.
  • UGP is valuated reasonably with a Price/Forward Earnings ratio of 11.84.
  • Based on the Price/Forward Earnings ratio, UGP is valued cheaper than 80.49% of the companies in the same industry.
  • UGP's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.11.
Industry RankSector Rank
PE 9.38
Fwd PE 11.84
UGP Price Earnings VS Forward Price EarningsUGP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 84.55% of the companies in the same industry are more expensive than UGP, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of UGP indicates a somewhat cheap valuation: UGP is cheaper than 75.61% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 13.77
EV/EBITDA 6.17
UGP Per share dataUGP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • UGP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)137.44
PEG (5Y)0.22
EPS Next 2Y0.02%
EPS Next 3Y7.52%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. Dividend

5.1 Amount

  • UGP has a Yearly Dividend Yield of 5.79%, which is a nice return.
  • Compared to an average industry Dividend Yield of 2.33, UGP pays a better dividend. On top of this UGP pays more dividend than 91.87% of the companies listed in the same industry.
  • UGP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 5.79%

5.2 History

  • The dividend of UGP is nicely growing with an annual growth rate of 6.93%!
  • UGP has been paying a dividend for at least 10 years, so it has a reliable track record.
  • UGP has decreased its dividend recently.
Dividend Growth(5Y)6.93%
Div Incr Years1
Div Non Decr Years1
UGP Yearly Dividends per shareUGP Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3

5.3 Sustainability

  • 29.65% of the earnings are spent on dividend by UGP. This is a low number and sustainable payout ratio.
  • The dividend of UGP is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP29.65%
EPS Next 2Y0.02%
EPS Next 3Y7.52%
UGP Yearly Income VS Free CF VS DividendUGP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B
UGP Dividend Payout.UGP Dividend Payout, showing the Payout Ratio.UGP Dividend Payout.PayoutRetained Earnings

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ULTRAPAR PARTICPAC-SPON ADR

NYSE:UGP (3/2/2026, 8:04:00 PM)

After market: 4.9423 -0.03 (-0.56%)

4.97

-0.08 (-1.58%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)11-12
Earnings (Next)03-04
Inst Owners35.6%
Inst Owner Change-4.95%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap5.31B
Revenue(TTM)133.50B
Net Income(TTM)2.94B
Analysts77.14
Price Target5.04 (1.41%)
Short Float %0.7%
Short Ratio2.75
Dividend
Industry RankSector Rank
Dividend Yield 5.79%
Yearly Dividend0.15
Dividend Growth(5Y)6.93%
DP29.65%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)84.56%
Min EPS beat(2)-16.03%
Max EPS beat(2)185.16%
EPS beat(4)3
Avg EPS beat(4)66.03%
Min EPS beat(4)-16.03%
Max EPS beat(4)185.16%
EPS beat(8)5
Avg EPS beat(8)49.89%
EPS beat(12)7
Avg EPS beat(12)62.93%
EPS beat(16)11
Avg EPS beat(16)67.29%
Revenue beat(2)1
Avg Revenue beat(2)-1.95%
Min Revenue beat(2)-4.43%
Max Revenue beat(2)0.53%
Revenue beat(4)1
Avg Revenue beat(4)-1.49%
Min Revenue beat(4)-4.43%
Max Revenue beat(4)0.53%
Revenue beat(8)1
Avg Revenue beat(8)-2.61%
Revenue beat(12)2
Avg Revenue beat(12)-2.35%
Revenue beat(16)3
Avg Revenue beat(16)-4.13%
PT rev (1m)6.51%
PT rev (3m)6.05%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)5.9%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)1.22%
Revenue NY rev (3m)1.85%
Valuation
Industry RankSector Rank
PE 9.38
Fwd PE 11.84
P/S 0.2
P/FCF 13.77
P/OCF 6.93
P/B 1.7
P/tB 2.21
EV/EBITDA 6.17
EPS(TTM)0.53
EY10.66%
EPS(NY)0.42
Fwd EY8.45%
FCF(TTM)0.36
FCFY7.26%
OCF(TTM)0.72
OCFY14.43%
SpS25.07
BVpS2.92
TBVpS2.25
PEG (NY)137.44
PEG (5Y)0.22
Graham Number5.9
Profitability
Industry RankSector Rank
ROA 6.44%
ROE 18.26%
ROCE 15.06%
ROIC 10.04%
ROICexc 11.27%
ROICexgc 12.71%
OM 3.96%
PM (TTM) 2.12%
GM 7.1%
FCFM 1.44%
ROA(3y)5.76%
ROA(5y)4.39%
ROE(3y)16.34%
ROE(5y)13.37%
ROIC(3y)10.37%
ROIC(5y)7.58%
ROICexc(3y)13.22%
ROICexc(5y)9.68%
ROICexgc(3y)14.75%
ROICexgc(5y)10.75%
ROCE(3y)15.56%
ROCE(5y)11.37%
ROICexgc growth 3Y48.25%
ROICexgc growth 5Y16.56%
ROICexc growth 3Y47.61%
ROICexc growth 5Y16.73%
OM growth 3Y42.59%
OM growth 5Y11.25%
PM growth 3Y31.69%
PM growth 5Y33.44%
GM growth 3Y17.53%
GM growth 5Y1.18%
F-Score5
Asset Turnover3.03
Health
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 9.53
Debt/EBITDA 2.3
Cap/Depr 152.85%
Cap/Sales 1.42%
Interest Coverage 3.42
Cash Conversion 58.51%
Profit Quality 67.74%
Current Ratio 1.82
Quick Ratio 1.38
Altman-Z 4.5
F-Score5
WACC10.87%
ROIC/WACC0.92
Cap/Depr(3y)125.7%
Cap/Depr(5y)121.29%
Cap/Sales(3y)1.07%
Cap/Sales(5y)1.18%
Profit Quality(3y)77.27%
Profit Quality(5y)121.89%
High Growth Momentum
Growth
EPS 1Y (TTM)12.33%
EPS 3Y39.09%
EPS 5Y43.25%
EPS Q2Q%10.06%
EPS Next Y0.07%
EPS Next 2Y0.02%
EPS Next 3Y7.52%
EPS Next 5YN/A
Revenue 1Y (TTM)5.91%
Revenue growth 3Y6.75%
Revenue growth 5Y8.37%
Sales Q2Q%4.74%
Revenue Next Year5.22%
Revenue Next 2Y2.67%
Revenue Next 3Y3.62%
Revenue Next 5Y3.28%
EBIT growth 1Y6.6%
EBIT growth 3Y52.22%
EBIT growth 5Y20.57%
EBIT Next Year71.59%
EBIT Next 3Y26.39%
EBIT Next 5Y17.43%
FCF growth 1Y9.58%
FCF growth 3Y13.86%
FCF growth 5Y2.14%
OCF growth 1Y31.83%
OCF growth 3Y13.04%
OCF growth 5Y5.01%

ULTRAPAR PARTICPAC-SPON ADR / UGP FAQ

Can you provide the ChartMill fundamental rating for ULTRAPAR PARTICPAC-SPON ADR?

ChartMill assigns a fundamental rating of 6 / 10 to UGP.


Can you provide the valuation status for ULTRAPAR PARTICPAC-SPON ADR?

ChartMill assigns a valuation rating of 7 / 10 to ULTRAPAR PARTICPAC-SPON ADR (UGP). This can be considered as Undervalued.


What is the profitability of UGP stock?

ULTRAPAR PARTICPAC-SPON ADR (UGP) has a profitability rating of 6 / 10.


Can you provide the expected EPS growth for UGP stock?

The Earnings per Share (EPS) of ULTRAPAR PARTICPAC-SPON ADR (UGP) is expected to grow by 0.07% in the next year.


Is the dividend of ULTRAPAR PARTICPAC-SPON ADR sustainable?

The dividend rating of ULTRAPAR PARTICPAC-SPON ADR (UGP) is 8 / 10 and the dividend payout ratio is 29.65%.