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

NYSE:UGP • US90400P1012

Current stock price

4.91 USD
-0.19 (-3.73%)
At close:
4.91 USD
0 (0%)
After Hours:

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

  • In the past year UGP was profitable.
  • 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 2025 1B 2B 3B 4B 5B

1.2 Ratios

  • UGP has a Return On Assets of 5.01%. This is in the better half of the industry: UGP outperforms 71.77% of its industry peers.
  • UGP's Return On Equity of 15.79% is fine compared to the rest of the industry. UGP outperforms 75.81% of its industry peers.
  • The Return On Invested Capital of UGP (8.91%) is better than 75.81% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for UGP is below the industry average of 13.55%.
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 60.48% of its industry peers.
  • In the last couple of years the Profit Margin of UGP has grown nicely.
  • UGP has a Operating Margin (3.47%) which is in line with its industry peers.
  • In the last couple of years the Operating Margin of UGP has grown nicely.
  • Looking at the Gross Margin, with a value of 6.57%, UGP is doing worse than 90.32% of the companies in the same industry.
  • In the last couple of years the Gross Margin of UGP has grown nicely.
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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6

2. UGP Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so UGP is destroying value.
  • The number of shares outstanding for UGP has been reduced compared to 1 year ago.
  • The number of shares outstanding for UGP has been reduced compared to 5 years ago.
  • UGP has a worse debt/assets ratio than last year.
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

  • An Altman-Z score of 4.15 indicates that UGP is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of UGP (4.15) is better than 83.87% 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.
  • With a decent Debt to FCF ratio value of 6.33, UGP is doing good in the industry, outperforming 60.48% of the companies in the same industry.
  • A Debt/Equity ratio of 1.10 is on the high side and indicates that UGP has dependencies on debt financing.
  • The Debt to Equity ratio of UGP (1.10) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 6.33
Altman-Z 4.15
ROIC/WACC0.83
WACC10.73%
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

  • UGP has a Current Ratio of 1.62. 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 Current ratio (1.62) than 66.13% of its industry peers.
  • A Quick Ratio of 1.26 indicates that UGP should not have too much problems paying its short term obligations.
  • UGP has a better Quick ratio (1.26) than 83.06% 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

  • The Earnings Per Share has been growing slightly by 6.92% over the past year.
  • The Earnings Per Share has been growing by 22.13% 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 6.64%.
  • UGP shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.96% yearly.
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.
  • 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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6

4. UGP Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 11.98 indicates a reasonable valuation of UGP.
  • Based on the Price/Earnings ratio, UGP is valued a bit cheaper than 79.84% of the companies in the same industry.
  • UGP's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.23.
  • With a Price/Forward Earnings ratio of 12.66, UGP is valued correctly.
  • UGP's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. UGP is cheaper than 74.19% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of UGP to the average of the S&P500 Index (23.28), we can say UGP is valued slightly cheaper.
Industry RankSector Rank
PE 11.98
Fwd PE 12.66
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 77.42% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of UGP indicates a rather cheap valuation: UGP is cheaper than 86.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 8.07
EV/EBITDA 6.1
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)0.54
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

  • With a Yearly Dividend Yield of 5.92%, UGP is a good candidate for dividend investing.
  • UGP's Dividend Yield is rather good when compared to the industry average which is at 2.41. UGP pays more dividend than 91.13% of the companies in the same industry.
  • UGP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 5.92%

5.2 History

  • On average, the dividend of UGP grows each year by 50.49%, which is quite nice.
  • UGP has paid a dividend for at least 10 years, which is a reliable track record.
  • The dividend of UGP decreased 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

  • 87.78% of the earnings are spent on dividend by UGP. This is not a sustainable payout ratio.
  • The dividend of UGP is growing, but the earnings are growing slower. 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)

After market: 4.91 0 (0%)

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 ChangeN/A
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)4.05%
EPS NQ rev (3m)6.19%
EPS NY rev (1m)-5.02%
EPS NY rev (3m)-6.89%
Revenue NQ rev (1m)4.44%
Revenue NQ rev (3m)4.93%
Revenue NY rev (1m)1.86%
Revenue NY rev (3m)0.94%
Valuation
Industry RankSector Rank
PE 11.98
Fwd PE 12.66
P/S 0.2
P/FCF 8.07
P/OCF 5.1
P/B 1.77
P/tB 2.25
EV/EBITDA 6.1
EPS(TTM)0.41
EY8.35%
EPS(NY)0.39
Fwd EY7.9%
FCF(TTM)0.61
FCFY12.4%
OCF(TTM)0.96
OCFY19.61%
SpS25.14
BVpS2.77
TBVpS2.18
PEG (NY)N/A
PEG (5Y)0.54
Graham Number5.05
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 4.15
F-Score5
WACC10.73%
ROIC/WACC0.83
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 Year56.86%
EBIT Next 3Y14.35%
EBIT Next 5Y14.06%
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%.