ULTRAPAR PARTICPAC-SPON ADR (UGP) Fundamental Analysis & Valuation

NYSE:UGP • US90400P1012

Current stock price

4.91 USD
-0.19 (-3.73%)
At close:
5.1 USD
+0.19 (+3.87%)
Pre-Market:

This UGP fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. UGP Profitability Analysis

1.1 Basic Checks

  • UGP had positive earnings in the past year.
  • UGP had a positive operating cash flow in the past year.
  • UGP had positive earnings in each of the past 5 years.
  • Each year in the past 5 years UGP had a positive operating cash flow.
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 2025 1B 2B 3B 4B 5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.01%, UGP is in the better half of the industry, outperforming 72.36% of the companies in the same industry.
  • UGP's Return On Equity of 15.79% is fine compared to the rest of the industry. UGP outperforms 76.42% of its industry peers.
  • The Return On Invested Capital of UGP (8.91%) is better than 76.42% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for UGP is below the industry average of 13.47%.
Industry RankSector Rank
ROA 5.01%
ROE 15.79%
ROIC 8.91%
ROA(3y)5.77%
ROA(5y)4.89%
ROE(3y)16.44%
ROE(5y)14.63%
ROIC(3y)10.47%
ROIC(5y)8.8%
UGP Yearly ROA, ROE, ROICUGP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • The Profit Margin of UGP (1.74%) is better than 60.16% of its industry peers.
  • In the last couple of years the Profit Margin of UGP has grown nicely.
  • UGP has a Operating Margin of 3.47%. This is comparable to the rest of the industry: UGP outperforms 59.35% of its industry peers.
  • UGP's Operating Margin has improved in the last couple of years.
  • UGP's Gross Margin of 6.57% is on the low side compared to the rest of the industry. UGP is outperformed by 90.24% of its industry peers.
  • UGP's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 3.47%
PM (TTM) 1.74%
GM 6.57%
OM growth 3Y16.36%
OM growth 5Y14.21%
PM growth 3Y11.19%
PM growth 5Y7.4%
GM growth 3Y8.67%
GM growth 5Y4%
UGP Yearly Profit, Operating, Gross MarginsUGP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8

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5

2. UGP Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), UGP is creating some value.
  • Compared to 1 year ago, UGP has less shares outstanding
  • Compared to 5 years ago, UGP has less shares outstanding
  • 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 2025 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 2025 10B 20B 30B 40B

2.2 Solvency

  • UGP has an Altman-Z score of 4.12. This indicates that UGP is financially healthy and has little risk of bankruptcy at the moment.
  • UGP's Altman-Z score of 4.12 is amongst the best of the industry. UGP outperforms 86.18% of its industry peers.
  • The Debt to FCF ratio of UGP is 6.33, which is on the high side as it means it would take UGP, 6.33 years of fcf income to pay off all of its debts.
  • UGP has a Debt to FCF ratio of 6.33. This is comparable to the rest of the industry: UGP outperforms 59.35% of its industry peers.
  • A Debt/Equity ratio of 1.10 is on the high side and indicates that UGP has dependencies on debt financing.
  • UGP has a Debt to Equity ratio of 1.10. This is comparable to the rest of the industry: UGP outperforms 43.09% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 6.33
Altman-Z 4.12
ROIC/WACC0.9
WACC9.85%
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 2025 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 1.62 indicates that UGP should not have too much problems paying its short term obligations.
  • With a decent Current ratio value of 1.62, UGP is doing good in the industry, outperforming 65.85% of the companies in the same industry.
  • UGP has a Quick Ratio of 1.26. This is a normal value and indicates that UGP is financially healthy and should not expect problems in meeting its short term obligations.
  • UGP has a better Quick ratio (1.26) than 82.93% of its industry peers.
Industry RankSector Rank
Current Ratio 1.62
Quick Ratio 1.26
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 2025 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. UGP Growth Analysis

3.1 Past

  • UGP shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.92%.
  • The Earnings Per Share has been growing by 22.13% on average over the past years. This is a very strong growth
  • Looking at the last year, UGP shows a small growth in Revenue. The Revenue has grown by 6.64% in the last year.
  • Measured over the past years, UGP shows a quite strong growth in Revenue. The Revenue has been growing by 13.96% on average per year.
EPS 1Y (TTM)6.92%
EPS 3Y10.78%
EPS 5Y22.13%
EPS Q2Q%-57.5%
Revenue 1Y (TTM)6.64%
Revenue growth 3Y-0.29%
Revenue growth 5Y13.96%
Sales Q2Q%7.2%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.49% on average over the next years. This is quite good.
  • Based on estimates for the next years, UGP will show a small growth in Revenue. The Revenue will grow by 3.02% on average per year.
EPS Next Y-6.32%
EPS Next 2Y8.49%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.56%
Revenue Next 2Y3.19%
Revenue Next 3Y6.22%
Revenue Next 5Y3.02%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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6

4. UGP Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 11.69, the valuation of UGP can be described as reasonable.
  • 80.49% of the companies in the same industry are more expensive than UGP, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 25.23. UGP is valued rather cheaply when compared to this.
  • UGP is valuated correctly with a Price/Forward Earnings ratio of 12.55.
  • Based on the Price/Forward Earnings ratio, UGP is valued a bit cheaper than the industry average as 73.98% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of UGP to the average of the S&P500 Index (22.42), we can say UGP is valued slightly cheaper.
Industry RankSector Rank
PE 11.69
Fwd PE 12.55
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

  • Based on the Enterprise Value to EBITDA ratio, UGP is valued a bit cheaper than the industry average as 78.05% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, UGP is valued cheaper than 86.18% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8
EV/EBITDA 5.9
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

  • UGP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.53
EPS Next 2Y8.49%
EPS Next 3YN/A

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

6

5. UGP Dividend Analysis

5.1 Amount

  • UGP has a Yearly Dividend Yield of 5.92%, which is a nice return.
  • Compared to an average industry Dividend Yield of 2.79, UGP pays a better dividend. On top of this UGP pays more dividend than 90.24% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, UGP pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.92%

5.2 History

  • The dividend of UGP is nicely growing with an annual growth rate of 50.49%!
  • UGP has paid a dividend for at least 10 years, which is a reliable track record.
  • UGP has decreased its dividend recently.
Dividend Growth(5Y)50.49%
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

  • UGP pays out 87.78% of its income as dividend. This is not a sustainable payout ratio.
  • UGP's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP87.78%
EPS Next 2Y8.49%
EPS Next 3YN/A
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 2025 1B 2B 3B
UGP Dividend Payout.UGP Dividend Payout, showing the Payout Ratio.UGP Dividend Payout.PayoutRetained Earnings

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UGP Fundamentals: All Metrics, Ratios and Statistics

ULTRAPAR PARTICPAC-SPON ADR

NYSE:UGP (3/20/2026, 8:26:26 PM)

Premarket: 5.1 +0.19 (+3.87%)

4.91

-0.19 (-3.73%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)03-04
Earnings (Next)05-06
Inst Owners41.05%
Inst Owner Change-4.88%
Ins OwnersN/A
Ins Owner Change0%
Market Cap5.25B
Revenue(TTM)142.37B
Net Income(TTM)2.47B
Analysts76.19
Price Target5.04 (2.65%)
Short Float %0.07%
Short Ratio0.23
Dividend
Industry RankSector Rank
Dividend Yield 5.92%
Yearly Dividend0.38
Dividend Growth(5Y)50.49%
DP87.78%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.29%
Min EPS beat(2)-25.82%
Max EPS beat(2)25.23%
EPS beat(4)2
Avg EPS beat(4)42.14%
Min EPS beat(4)-25.82%
Max EPS beat(4)185.16%
EPS beat(8)4
Avg EPS beat(8)29.43%
EPS beat(12)7
Avg EPS beat(12)34.85%
EPS beat(16)10
Avg EPS beat(16)58.77%
Revenue beat(2)2
Avg Revenue beat(2)3.84%
Min Revenue beat(2)2.76%
Max Revenue beat(2)4.92%
Revenue beat(4)3
Avg Revenue beat(4)0.94%
Min Revenue beat(4)-4.43%
Max Revenue beat(4)4.92%
Revenue beat(8)3
Avg Revenue beat(8)-1.1%
Revenue beat(12)3
Avg Revenue beat(12)-1.65%
Revenue beat(16)4
Avg Revenue beat(16)-2.12%
PT rev (1m)0%
PT rev (3m)6.17%
EPS NQ rev (1m)4.04%
EPS NQ rev (3m)6.18%
EPS NY rev (1m)-5.03%
EPS NY rev (3m)-6.9%
Revenue NQ rev (1m)4.44%
Revenue NQ rev (3m)4.93%
Revenue NY rev (1m)0.43%
Revenue NY rev (3m)0.94%
Valuation
Industry RankSector Rank
PE 11.69
Fwd PE 12.55
P/S 0.19
P/FCF 8
P/OCF 5.06
P/B 1.76
P/tB 2.23
EV/EBITDA 5.9
EPS(TTM)0.42
EY8.55%
EPS(NY)0.39
Fwd EY7.97%
FCF(TTM)0.61
FCFY12.5%
OCF(TTM)0.97
OCFY19.77%
SpS25.35
BVpS2.79
TBVpS2.2
PEG (NY)N/A
PEG (5Y)0.53
Graham Number5.13
Profitability
Industry RankSector Rank
ROA 5.01%
ROE 15.79%
ROCE 13.19%
ROIC 8.91%
ROICexc 10.96%
ROICexgc 12.3%
OM 3.47%
PM (TTM) 1.74%
GM 6.57%
FCFM 2.42%
ROA(3y)5.77%
ROA(5y)4.89%
ROE(3y)16.44%
ROE(5y)14.63%
ROIC(3y)10.47%
ROIC(5y)8.8%
ROICexc(3y)12.98%
ROICexc(5y)11.07%
ROICexgc(3y)14.48%
ROICexgc(5y)12.33%
ROCE(3y)15.5%
ROCE(5y)13.03%
ROICexgc growth 3Y-3.53%
ROICexgc growth 5Y19.25%
ROICexc growth 3Y-3.51%
ROICexc growth 5Y18.81%
OM growth 3Y16.36%
OM growth 5Y14.21%
PM growth 3Y11.19%
PM growth 5Y7.4%
GM growth 3Y8.67%
GM growth 5Y4%
F-Score5
Asset Turnover2.88
Health
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 6.33
Debt/EBITDA 2.64
Cap/Depr 126.42%
Cap/Sales 1.41%
Interest Coverage 2.6
Cash Conversion 83.47%
Profit Quality 139.31%
Current Ratio 1.62
Quick Ratio 1.26
Altman-Z 4.12
F-Score5
WACC9.85%
ROIC/WACC0.9
Cap/Depr(3y)128.42%
Cap/Depr(5y)128.41%
Cap/Sales(3y)1.26%
Cap/Sales(5y)1.15%
Profit Quality(3y)109.33%
Profit Quality(5y)105.5%
High Growth Momentum
Growth
EPS 1Y (TTM)6.92%
EPS 3Y10.78%
EPS 5Y22.13%
EPS Q2Q%-57.5%
EPS Next Y-6.32%
EPS Next 2Y8.49%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.64%
Revenue growth 3Y-0.29%
Revenue growth 5Y13.96%
Sales Q2Q%7.2%
Revenue Next Year0.56%
Revenue Next 2Y3.19%
Revenue Next 3Y6.22%
Revenue Next 5Y3.02%
EBIT growth 1Y0.92%
EBIT growth 3Y16.02%
EBIT growth 5Y30.16%
EBIT Next Year56.76%
EBIT Next 3Y14.32%
EBIT Next 5Y14.04%
FCF growth 1Y76.93%
FCF growth 3Y62.87%
FCF growth 5Y11.65%
OCF growth 1Y45.96%
OCF growth 3Y39.59%
OCF growth 5Y11.68%

ULTRAPAR PARTICPAC-SPON ADR / UGP Fundamental Analysis 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 6 / 10 to ULTRAPAR PARTICPAC-SPON ADR (UGP). This can be considered as Fairly Valued.


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 decline by -6.32% in the next year.


Is the dividend of ULTRAPAR PARTICPAC-SPON ADR sustainable?

The dividend rating of ULTRAPAR PARTICPAC-SPON ADR (UGP) is 6 / 10 and the dividend payout ratio is 87.78%.