Ultrapar Participações (NYSE: UGP)

$6.25+0.16%today

Brazilian ADR trading on the NYSE, priced in US dollars. Key figures below are sourced from Yahoo Finance.

Market Cap: —
P/E (TTM): 11.4x
P/B: —
EPS (TTM): 0.55
Dividend Yield: 5.06%
52-Week Range: $2.80 – $6.28
Volume: 5.37M
Previous Close: $6.24

TTM = trailing twelve months — the most recent 12 months (a rolling window), used for P/E, EPS and dividends. On the tables and charts below, the in-progress current year appears as a “Last 12M” column labelled with the quarter range it covers.

Performance

Today

+0.16%

1 Week

+4.17%

1 Month

+30.21%

YTD

+65.78%

1 Year

+120.85%

5 Years

+73.61%

About Ultrapar Participações

US Ticker: UGP
B3 Ticker: UGPA3
Exchange: NYSE
Currency: USD
Sector: Energy
Industry: Oil & Gas Refining & Marketing
Headquarters: São Paulo, SP, Brazil
Employees: 11,481
CEO: Mr. Rodrigo de Almeida Pizzinatto
Founded: 1937

Ultrapar Participações S.A., through its subsidiaries, operates in the energy, mobility, and logistics infrastructure sectors in Brazil, the rest of Europe, the United States, Canada, other Latin American countries, Oceania, and internationally.

It operates through Ultragaz, Ipiranga, Ultracargo, and Hidrovias segments.

The company distributes and sells oil-related products, biofuels, gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and additive fuels under the Ipimax brand to carriers, resellers, and retailers; operates service stations under the Ipiranga brand and convenience stores under the AmPm brand; and produces and sells lubricants under the ICONIC brand.

It also engages in the distribution of bulk and bottled liquefied petroleum gas for the residential, condominium, trade, services, industrial, and agribusiness sectors; operation of a natural gas pipeline network; and provision of renewable electricity for businesses and households, as well as compressed natural gas and biomethane for corporate clients.

In addition, the company operates liquid bulk storage terminals in logistics centers; waterway and multimodal infrastructure; and port operations.

Further, the company offers logistics solutions for handling grains, ores, and fertilizers; automotive services through Jet Oil units; and loyalty programs under the Km de Vantagens (KMV) brand.

It also exports its products and services.

Ultrapar Participações S.A. was founded in 1937 and is headquartered in São Paulo, Brazil.

www.ultra.com.br

Analyst Ratings

Consensus of 8 Wall Street analysts · sourced from Yahoo Finance

2.0Buy

On a 1–5 scale: 1 = Strong Buy, 3 = Hold, 5 = Sell. Lower is more bullish.

12-Month Price Target

Low

$5.00

Average

$6.43

High

$7.92

The average target is +2.92% above the current price of $6.25.

Display currency

Revenue, net debt and other totals below — switch between US dollars and BRL.

Financial Results

Revenue, EBITDA and net profit (in USD) with net margin (net profit ÷ revenue).

Financial Health

Margins, leverage and cash-flow quality derived from Ultrapar Participações's income statement, balance sheet and cash flow (absolute figures in USD).

ProfitabilityLeverageGrowth

Overall: Financially Strong

Net Margin: 2.1%
ROE: 90.6%
Rev Growth (YoY): +2.40%
Net Debt / EBITDA: 0.38×
Current Ratio: 1.67×
Interest Coverage: 2.60×
Free Cash Flow: 1.91B
Payout Ratio: 45.1%

Income — Margins & Efficiency

Metric	Last 12MQ2'25 – Q1'26	Δ	2025	Δ	2024	Δ	2023	Δ	2022	Δ	2021	Δ	2020	Δ	2019	Δ	2018	Δ	2017	Δ	2016	Δ	2015	Δ	2014	Δ	2013	Δ	2012	Δ	2011	Δ	2010	Δ	2009	Δ	2008	Δ	2007	Δ	2006
Revenue	$28,075,767,986	+8.0%	$25,997,870,786	+20.3%	$21,609,108,759	-16.9%	$25,988,351,202	-4.4%	$27,179,863,755	+38.0%	$19,699,982,406	+38.1%	$14,267,068,580	-31.0%	$20,669,995,674	-11.7%	$23,410,764,287	-3.1%	$24,163,396,454	+1.6%	$23,784,091,258	+24.4%	$19,120,801,173	-25.1%	$25,521,381,259	-1.2%	$25,829,780,019	-2.0%	$26,365,177,253	+1.1%	$26,089,054,257	+2.1%	$25,560,596,871	-29.3%	$36,146,751,585	+197.2%	$12,163,511,188	+7.9%	$11,271,237,313	+402.2%	$2,244,258,611
Gross profit	$2,001,068,402	+17.1%	$1,709,002,776	+22.5%	$1,394,608,362	-27.4%	$1,921,205,723	+38.0%	$1,392,432,918	+58.1%	$880,556,533	+14.2%	$770,898,308	-35.5%	$1,194,294,858	-24.9%	$1,590,164,421	-27.6%	$2,196,140,558	+1.9%	$2,155,489,961	+26.9%	$1,698,782,319	-17.0%	$2,046,519,347	+1.1%	$2,023,820,625	+0.4%	$2,015,658,892	+6.8%	$1,888,110,122	-0.7%	$1,900,616,125	-29.8%	$2,706,216,428	+197.3%	$910,370,052	-5.2%	$960,198,870	+119.6%	$437,326,616
Operating income	$1,115,343,745	+25.9%	$886,186,224	+7.9%	$821,173,214	-12.8%	$941,387,365	+49.1%	$631,410,514	+96.8%	$320,816,847	+7.7%	$297,824,687	-41.7%	$510,802,944	+4.2%	$490,257,085	-43.4%	$865,851,228	-9.3%	$954,924,207	+27.6%	$748,484,848	-13.1%	$861,533,853	-5.2%	$908,744,119	+8.8%	$835,619,774	+7.3%	$778,468,261	-2.3%	$796,920,578	-13.0%	$916,083,443	+198.4%	$306,970,740	+11.6%	$275,029,908	+77.8%	$154,669,794
EBITDA	$1,775,874,480	+24.6%	$1,425,362,112	+73.9%	$819,580,926	-37.5%	$1,311,013,360	+53.9%	$851,602,013	+72.2%	$494,669,850	+0.4%	$492,806,654	-37.9%	$793,943,090	-14.0%	$922,918,280	-26.8%	$1,261,425,508	-10.8%	$1,414,636,104	+32.0%	$1,071,585,665	-17.8%	$1,302,898,534	+0.1%	$1,301,335,142	+3.4%	$1,258,787,834	+2.6%	$1,226,546,751	-1.3%	$1,242,259,326	+33.2%	$932,755,594	+65.3%	$564,113,597	+22.1%	$462,079,543	+90.4%	$242,631,667
Net profit	$577,064,589	+28.8%	$448,094,116	+17.2%	$382,450,347	-24.0%	$503,029,772	+47.6%	$340,771,109	+123.2%	$152,680,873	-11.3%	$172,107,630	+85.0%	$93,016,156	-68.7%	$296,944,143	-37.5%	$475,463,139	-1.0%	$480,152,507	+26.4%	$379,979,781	-18.8%	$467,790,588	-9.9%	$519,264,189	+5.0%	$494,356,755	+8.6%	$455,052,541	-1.2%	$460,471,119	-1.4%	$467,146,998	+178.2%	$167,943,201	+63.2%	$102,916,842	-22.1%	$132,058,890
Gross margin	7.1%	+0.6 p.p.	6.6%	+0.1 p.p.	6.5%	-0.9 p.p.	7.4%	+2.3 p.p.	5.1%	+0.7 p.p.	4.5%	-0.9 p.p.	5.4%	-0.4 p.p.	5.8%	-1.0 p.p.	6.8%	-2.3 p.p.	9.1%	+0.0 p.p.	9.1%	+0.2 p.p.	8.9%	+0.9 p.p.	8.0%	+0.2 p.p.	7.8%	+0.2 p.p.	7.6%	+0.4 p.p.	7.2%	-0.2 p.p.	7.4%	-0.1 p.p.	7.5%	+0.0 p.p.	7.5%	-1.0 p.p.	8.5%	-11.0 p.p.	19.5%
Operating margin	4.0%	+0.6 p.p.	3.4%	-0.4 p.p.	3.8%	+0.2 p.p.	3.6%	+1.3 p.p.	2.3%	+0.7 p.p.	1.6%	-0.5 p.p.	2.1%	-0.4 p.p.	2.5%	+0.4 p.p.	2.1%	-1.5 p.p.	3.6%	-0.4 p.p.	4.0%	+0.1 p.p.	3.9%	+0.5 p.p.	3.4%	-0.1 p.p.	3.5%	+0.3 p.p.	3.2%	+0.2 p.p.	3.0%	-0.1 p.p.	3.1%	+0.6 p.p.	2.5%	+0.0 p.p.	2.5%	+0.1 p.p.	2.4%	-4.5 p.p.	6.9%
EBITDA margin	6.3%	+0.8 p.p.	5.5%	+1.7 p.p.	3.8%	-1.3 p.p.	5.0%	+1.9 p.p.	3.1%	+0.6 p.p.	2.5%	-0.9 p.p.	3.5%	-0.4 p.p.	3.8%	-0.1 p.p.	3.9%	-1.3 p.p.	5.2%	-0.7 p.p.	5.9%	+0.3 p.p.	5.6%	+0.5 p.p.	5.1%	+0.1 p.p.	5.0%	+0.3 p.p.	4.8%	+0.1 p.p.	4.7%	-0.2 p.p.	4.9%	+2.3 p.p.	2.6%	-2.1 p.p.	4.6%	+0.5 p.p.	4.1%	-6.7 p.p.	10.8%
Net margin	2.1%	+0.3 p.p.	1.7%	-0.0 p.p.	1.8%	-0.2 p.p.	1.9%	+0.7 p.p.	1.3%	+0.5 p.p.	0.8%	-0.4 p.p.	1.2%	+0.8 p.p.	0.5%	-0.8 p.p.	1.3%	-0.7 p.p.	2.0%	-0.1 p.p.	2.0%	+0.0 p.p.	2.0%	+0.2 p.p.	1.8%	-0.2 p.p.	2.0%	+0.1 p.p.	1.9%	+0.1 p.p.	1.7%	-0.1 p.p.	1.8%	+0.5 p.p.	1.3%	-0.1 p.p.	1.4%	+0.5 p.p.	0.9%	-5.0 p.p.	5.9%
Revenue growth (YoY)	2.4%	-4.2 p.p.	6.6%	+0.7 p.p.	5.9%	+18.2 p.p.	-12.2%	-43.1 p.p.	30.9%	-17.3 p.p.	48.2%	+58.9 p.p.	-10.8%	-2.3 p.p.	-8.5%	-21.8 p.p.	13.4%	+9.9 p.p.	3.4%	+1.2 p.p.	2.2%	-9.4 p.p.	11.7%	+0.5 p.p.	11.2%	-1.9 p.p.	13.0%	+2.2 p.p.	10.8%	-3.7 p.p.	14.5%	+47.1 p.p.	-32.6%	-155.5 p.p.	122.9%	+81.0 p.p.	41.9%	-274.6 p.p.	316.5%	—	—
Effective tax rate	28.5%	+0.6 p.p.	27.9%	-9.1 p.p.	37.0%	+7.4 p.p.	29.6%	+11.5 p.p.	18.2%	-0.5 p.p.	18.7%	-13.3 p.p.	32.0%	-2.4 p.p.	34.4%	-1.6 p.p.	36.1%	+1.3 p.p.	34.8%	+4.0 p.p.	30.8%	-1.8 p.p.	32.7%	+1.2 p.p.	31.4%	+31.0 p.p.	0.4%	-29.2 p.p.	29.6%	+3.6 p.p.	26.0%	-1.8 p.p.	27.8%	-0.6 p.p.	28.5%	+1.2 p.p.	27.3%	+4.4 p.p.	22.8%	+6.5 p.p.	16.4%
Interest coverage	2.60×	+0.5%	2.58×	-8.1%	2.81×	-12.2%	3.20×	+46.9%	2.18×	-1.6%	2.22×	-80.8%	11.55×	+21.5%	9.51×	+201.0%	3.16×	-3.4%	3.27×	+8.4%	3.02×	-8.8%	3.31×	-6.2%	3.53×	-25.4%	4.73×	+9.5%	4.31×	+56.4%	2.76×	-4.5%	2.89×	+162.1%	1.10×	-61.0%	2.83×	+21.2%	2.33×	—	—

Newest column (“Last 12M”) = trailing 12 months, the last 4 reported quarters — shown with the quarter range it spans; earlier columns are full fiscal years.

Balance Sheet — Health & Leverage

Metric	Last 12MQ2'25 – Q1'26	Δ	2025	Δ	2024	Δ	2023	Δ	2022	Δ	2021	Δ	2020	Δ	2019	Δ	2018	Δ	2017	Δ	2016	Δ	2015	Δ	2014	Δ	2013	Δ	2012	Δ	2011	Δ	2010	Δ	2009	Δ	2008	Δ	2007	Δ	2006
Net debt	$667,174,057	-80.4%	$3,405,354,991	+53.3%	$2,220,687,450	+46.2%	$1,519,397,344	+3.6%	$1,467,238,580	-47.5%	$2,794,864,996	-12.3%	$3,188,137,409	+271.4%	$858,364,210	-70.5%	$2,908,277,580	+12.1%	$2,595,142,098	+18.2%	$2,196,282,016	+40.1%	$1,567,742,563	-25.1%	$2,091,938,887	+5.2%	$1,989,374,391	-3.0%	$2,050,035,206	+1.4%	$2,021,595,539	+22.0%	$1,656,808,063	-32.6%	$2,457,427,933	+557.0%	-$537,693,632	-139.6%	$1,358,004,627	+149.1%	$545,183,482
Net Debt / Equity	1.05×	-12.0%	1.19×	+31.6%	0.91×	+65.9%	0.55×	-17.6%	0.66×	-56.9%	1.54×	-11.4%	1.73×	+18.3%	1.47×	+22.9%	1.19×	+30.2%	0.92×	+9.7%	0.83×	+6.9%	0.78×	+8.2%	0.72×	+0.2%	0.72×	+2.9%	0.70×	+3.0%	0.68×	+27.1%	0.53×	+5.1%	0.51×	+289.2%	-0.27×	-151.5%	0.52×	-13.4%	0.60×
Net Debt / EBITDA	0.38×	-84.3%	2.39×	-11.8%	2.71×	+133.8%	1.16×	-32.7%	1.72×	-69.5%	5.65×	-12.7%	6.47×	+498.4%	1.08×	-65.7%	3.15×	+53.2%	2.06×	+32.5%	1.55×	+6.1%	1.46×	-8.9%	1.61×	+5.0%	1.53×	-6.1%	1.63×	-1.2%	1.65×	+23.6%	1.33×	-49.4%	2.63×	+376.4%	-0.95×	-132.4%	2.94×	+30.8%	2.25×
Debt / Equity	1.28×	-8.0%	1.39×	+33.8%	1.04×	+5.8%	0.98×	-14.3%	1.15×	-34.8%	1.76×	-12.5%	2.01×	+19.2%	1.69×	+5.0%	1.61×	+11.1%	1.45×	+8.6%	1.33×	+19.0%	1.12×	+3.0%	1.09×	+1.8%	1.07×	+2.6%	1.04×	+4.0%	1.00×	-4.3%	1.05×	+16.4%	0.90×	+16298.8%	0.01×	-99.2%	0.71×	-11.5%	0.80×
Current ratio	1.67×	+3.0%	1.62×	+5.8%	1.53×	-7.9%	1.66×	+12.1%	1.48×	-24.7%	1.97×	+3.8%	1.89×	-35.4%	2.93×	+14.6%	2.56×	+18.0%	2.17×	-8.6%	2.37×	-8.3%	2.59×	+54.9%	1.67×	-20.5%	2.10×	+9.7%	1.91×	+19.3%	1.60×	-37.4%	2.56×	+18.6%	2.16×	+15.6%	1.87×	+0.0%	1.87×	-51.4%	3.84×
Return on equity (ROE)	90.6%	+75.0 p.p.	15.7%	+0.1 p.p.	15.6%	-2.5 p.p.	18.1%	+2.7 p.p.	15.4%	+7.0 p.p.	8.4%	-1.0 p.p.	9.4%	-6.5 p.p.	15.9%	+3.7 p.p.	12.2%	-4.6 p.p.	16.8%	-1.5 p.p.	18.2%	-0.7 p.p.	18.9%	+2.8 p.p.	16.1%	-2.7 p.p.	18.8%	+1.9 p.p.	16.9%	+1.6 p.p.	15.3%	+0.4 p.p.	14.9%	+5.2 p.p.	9.7%	+1.3 p.p.	8.4%	+4.4 p.p.	4.0%	-10.6 p.p.	14.6%
Return on assets (ROA)	29.2%	+24.3 p.p.	4.9%	-1.1 p.p.	6.0%	-0.4 p.p.	6.4%	+1.5 p.p.	4.9%	+2.7 p.p.	2.2%	-0.2 p.p.	2.4%	-2.3 p.p.	4.8%	+1.0 p.p.	3.8%	-1.8 p.p.	5.6%	-0.9 p.p.	6.5%	-0.7 p.p.	7.2%	+0.8 p.p.	6.4%	-1.1 p.p.	7.5%	+0.9 p.p.	6.6%	+0.4 p.p.	6.2%	+0.3 p.p.	5.9%	+1.7 p.p.	4.2%	+0.2 p.p.	4.0%	+2.1 p.p.	2.0%	-5.3 p.p.	7.2%
Book value / share	$0.58	-77.7%	$2.61	+18.9%	$2.20	-12.9%	$2.52	+25.0%	$2.02	+21.6%	$1.66	-1.3%	$1.68	+577.5%	$0.25	-76.0%	$1.03	-60.1%	$2.60	+7.6%	$2.41	+31.7%	$1.83	-30.6%	$2.64	+125.7%	$1.17	-5.7%	$1.24	-1.6%	$1.26	-56.5%	$2.89	-34.9%	$4.44	+138.4%	$1.86	-51.0%	$3.81	+173.7%	$1.39

Newest column (“Last 12M”) = trailing 12 months, the last 4 reported quarters — shown with the quarter range it spans; earlier columns are full fiscal years.

Net Debt & Leverage

Free Cash Flow

Margins

Dividend Payout Ratio

Capex ÷ Revenue

Cash Conversion (operating cash flow ÷ net income)

Ratios computed from company financial statements. Net Debt = total debt − cash & equivalents; FCF = operating cash flow − capital expenditure; absolute values in USD.

Valuation & Dividends

P/E Ratio History

Dividend History

Dividends and yield from Yahoo Finance (per ADR share, in USD). The current-year figures are calendar year-to-date (dividends actually paid this year), not the trailing 12 months.