Ugi Corp Financials
This page shows Ugi Corp (UGI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
UGI’s earnings recovery is being driven more by margin normalization and steady cash conversion than by top-line growth.
From FY2023 through FY2025, operating cash flow stayed above$1.1B even as net income swung from-$1.5B to profit, implying the earnings trough was shaped more by non-cash hits than by a breakdown in cash generation. That stability let UGI keep capital spending near$800M and still produce about$390M of free cash flow, but a current ratio below 1.0x shows the model still leans on refinancing and working-capital timing rather than surplus near-term liquidity.
FY2025 revenue was essentially unchanged from FY2024, yet operating margin expanded from
The balance sheet is leveraged but not drifting worse: long-term debt stayed around
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Ugi Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ugi Corp has an operating margin of 15.2%, meaning the company retains $15 of operating profit per $100 of revenue. This results in a moderate score of 39/100, indicating healthy but not exceptional operating efficiency. This is up from 10.7% the prior year.
Ugi Corp's revenue grew a modest 1.1% year-over-year to $7.3B. This slow but positive growth earns a score of 17/100.
Ugi Corp carries a low D/E ratio of 1.37, meaning only $1.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
Ugi Corp's current ratio of 0.89 is below the typical benchmark, resulting in a score of 13/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Ugi Corp has a free cash flow margin of 5.3%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.
Ugi Corp generates a 14.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 16/100. This is up from 6.2% the prior year.
Ugi Corp scores 1.40, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Ugi Corp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ugi Corp generates $1.81 in operating cash flow ($1.2B OCF vs $678.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ugi Corp earns $2.7 in operating income for every $1 of interest expense ($1.1B vs $411.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Ugi Corp generated $7.3B in revenue in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Ugi Corp's EBITDA was $1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.3% from the prior year.
Ugi Corp reported $678.0M in net income in fiscal year 2025. This represents an increase of 152.0% from the prior year.
Ugi Corp earned $3.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 147.2% from the prior year.
Cash & Balance Sheet
Ugi Corp generated $390.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1.0% from the prior year.
Ugi Corp held $335.0M in cash against $6.5B in long-term debt as of fiscal year 2025.
Ugi Corp paid $1.50 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Ugi Corp had 215M shares outstanding in fiscal year 2025.
Margins & Returns
Ugi Corp's gross margin was 49.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.
Ugi Corp's operating margin was 15.2% in fiscal year 2025, reflecting core business profitability. This is up 4.5 percentage points from the prior year.
Ugi Corp's net profit margin was 9.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.6 percentage points from the prior year.
Ugi Corp's ROE was 14.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.0 percentage points from the prior year.
Capital Allocation
Ugi Corp spent $33.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Ugi Corp invested $837.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 5.2% from the prior year.
UGI Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B+28.9% | $2.1B+74.0% | $1.2B-14.1% | $1.4B-47.7% | $2.7B+31.3% | $2.0B+63.4% | $1.2B-10.0% | $1.4B |
| Cost of Revenue | $1.2B+17.3% | $1.0B+70.7% | $593.0M-29.2% | $837.0M-35.7% | $1.3B+41.0% | $923.0M+40.3% | $658.0M+3.0% | $639.0M |
| Gross Profit | $1.5B+39.9% | $1.1B+77.3% | $604.0M+8.4% | $557.0M-59.2% | $1.4B+23.3% | $1.1B+89.6% | $584.0M-21.2% | $741.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $559.0M+7.5% | $520.0M+6.8% | $487.0M+1.2% | $481.0M-11.9% | $546.0M+9.9% | $497.0M-2.5% | $510.0M+1.8% | $501.0M |
| Operating Income | $758.0M+67.0% | $454.0M+3392.3% | $13.0M+114.0% | -$93.0M-113.3% | $700.0M+43.7% | $487.0M+298.0% | -$246.0M-467.2% | $67.0M |
| Interest Expense | $111.0M0.0% | $111.0M+4.7% | $106.0M+5.0% | $101.0M-1.0% | $102.0M0.0% | $102.0M+4.1% | $98.0M+2.1% | $96.0M |
| Income Tax | $140.0M+159.3% | $54.0M+173.0% | -$74.0M-13.8% | -$65.0M-156.5% | $115.0M+173.8% | $42.0M+151.9% | -$81.0M-1057.1% | -$7.0M |
| Net Income | $520.0M+75.1% | $297.0M+2384.6% | -$13.0M+92.0% | -$163.0M-134.0% | $479.0M+27.7% | $375.0M+237.4% | -$273.0M-468.8% | -$48.0M |
| EPS (Diluted) | $2.33+73.9% | $1.34 | N/A | $-0.76-134.7% | $2.19+25.9% | $1.74 | N/A | $-0.23 |
UGI Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.1B+1.9% | $15.8B+2.3% | $15.5B+0.7% | $15.4B-2.4% | $15.7B+2.2% | $15.4B+2.1% | $15.1B+0.2% | $15.1B |
| Current Assets | $2.5B+19.5% | $2.1B+19.0% | $1.8B-1.8% | $1.8B-21.8% | $2.3B+12.4% | $2.0B+24.0% | $1.7B-3.8% | $1.7B |
| Cash & Equivalents | $494.0M+96.8% | $251.0M-25.1% | $335.0M-4.3% | $350.0M-17.8% | $426.0M+77.5% | $240.0M+12.7% | $213.0M+16.4% | $183.0M |
| Inventory | $319.0M-18.6% | $392.0M+1.8% | $385.0M+7.2% | $359.0M+5.3% | $341.0M-10.5% | $381.0M-7.3% | $411.0M+8.4% | $379.0M |
| Accounts Receivable | $1.2B+12.0% | $1.1B+47.3% | $714.0M-13.5% | $825.0M-30.3% | $1.2B+15.6% | $1.0B+44.3% | $709.0M-14.3% | $827.0M |
| Goodwill | $2.8B-1.3% | $2.8B-0.7% | $2.9B-1.2% | $2.9B+1.5% | $2.8B+1.4% | $2.8B-2.3% | $2.9B-5.2% | $3.0B |
| Total Liabilities | $10.7B-1.1% | $10.8B+1.2% | $10.7B+1.9% | $10.5B-2.3% | $10.7B-0.9% | $10.8B+0.7% | $10.7B+3.5% | $10.4B |
| Current Liabilities | $2.5B-6.5% | $2.7B+35.3% | $2.0B-22.4% | $2.6B+36.9% | $1.9B-8.6% | $2.0B-1.0% | $2.1B+9.2% | $1.9B |
| Long-Term Debt | $6.0B+0.3% | $6.0B-8.7% | $6.5B+14.9% | $5.7B-13.9% | $6.6B+0.1% | $6.6B+2.4% | $6.4B+2.5% | $6.3B |
| Total Equity | $5.4B+8.4% | $5.0B+4.7% | $4.8B-2.0% | $4.9B-2.8% | $5.0B+9.4% | $4.6B+5.4% | $4.3B-7.2% | $4.7B |
| Retained Earnings | $4.0B+12.4% | $3.5B+6.5% | $3.3B-2.7% | $3.4B-6.6% | $3.7B+12.2% | $3.3B+9.9% | $3.0B-10.6% | $3.3B |
UGI Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $664.0M+906.1% | $66.0M-26.7% | $90.0M-68.9% | $289.0M-57.7% | $684.0M+317.1% | $164.0M+8.6% | $151.0M-61.3% | $390.0M |
| Capital Expenditures | $170.0M-23.1% | $221.0M-14.3% | $258.0M+16.2% | $222.0M+52.1% | $146.0M-30.8% | $211.0M-20.7% | $266.0M+29.8% | $205.0M |
| Free Cash Flow | $494.0M+418.7% | -$155.0M+7.7% | -$168.0M-350.7% | $67.0M-87.5% | $538.0M+1244.7% | -$47.0M+59.1% | -$115.0M-162.2% | $185.0M |
| Investing Cash Flow | -$152.0M-4.8% | -$145.0M+27.5% | -$200.0M-51.5% | -$132.0M+2.2% | -$135.0M+41.8% | -$232.0M+3.7% | -$241.0M-21.7% | -$198.0M |
| Financing Cash Flow | -$247.0M-4016.7% | -$6.0M-106.1% | $99.0M+141.8% | -$237.0M+34.7% | -$363.0M-482.1% | $95.0M-6.9% | $102.0M+135.5% | -$287.0M |
| Dividends Paid | $80.0M-1.2% | $81.0M0.0% | $81.0M+1.3% | $80.0M0.0% | $80.0M-1.2% | $81.0M+1.3% | $80.0M-1.2% | $81.0M |
| Share Buybacks | $11.0M-8.3% | $12.0M-25.0% | $16.0M | $0-100.0% | $17.0M | $0 | $0 | $0 |
UGI Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.8%+4.4pp | 51.4%+1.0pp | 50.5%+10.5pp | 40.0%-11.2pp | 51.2%-3.3pp | 54.5%+7.5pp | 47.0%-6.7pp | 53.7% |
| Operating Margin | 28.2%+6.4pp | 21.8%+20.7pp | 1.1%+7.8pp | -6.7%-32.9pp | 26.3%+2.3pp | 24.0%+43.8pp | -19.8%-24.7pp | 4.9% |
| Net Margin | 19.4%+5.1pp | 14.3%+15.3pp | -1.1%+10.6pp | -11.7%-29.7pp | 18.0%-0.5pp | 18.5%+40.4pp | -22.0%-18.5pp | -3.5% |
| Return on Equity | 9.6%+3.7pp | 5.9%+6.2pp | -0.3%+3.1pp | -3.3%-12.9pp | 9.6%+1.4pp | 8.2%+14.5pp | -6.3%-5.3pp | -1.0% |
| Return on Assets | 3.2%+1.4pp | 1.9%+2.0pp | -0.1%+1.0pp | -1.1%-4.1pp | 3.0%+0.6pp | 2.4%+4.2pp | -1.8%-1.5pp | -0.3% |
| Current Ratio | 1.00+0.2 | 0.78-0.1 | 0.89+0.2 | 0.70-0.5 | 1.23+0.2 | 1.00+0.2 | 0.80-0.1 | 0.91 |
| Debt-to-Equity | 1.10-0.1 | 1.19-0.2 | 1.37+0.2 | 1.17-0.2 | 1.32-0.1 | 1.44-0.0 | 1.48+0.1 | 1.34 |
| FCF Margin | 18.4%+25.8pp | -7.4%+6.6pp | -14.0%-18.9pp | 4.8%-15.4pp | 20.2%+22.5pp | -2.3%+6.9pp | -9.3%-22.7pp | 13.4% |
Note: The current ratio is below 1.0 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Ugi Corp's annual revenue?
Ugi Corp (UGI) reported $7.3B in total revenue for fiscal year 2025. This represents a 1.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ugi Corp's revenue growing?
Ugi Corp (UGI) revenue grew by 1.1% year-over-year, from $7.2B to $7.3B in fiscal year 2025.
Is Ugi Corp profitable?
Yes, Ugi Corp (UGI) reported a net income of $678.0M in fiscal year 2025, with a net profit margin of 9.3%.
What is Ugi Corp's EBITDA?
Ugi Corp (UGI) had EBITDA of $1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ugi Corp have?
As of fiscal year 2025, Ugi Corp (UGI) had $335.0M in cash and equivalents against $6.5B in long-term debt.
What is Ugi Corp's gross margin?
Ugi Corp (UGI) had a gross margin of 49.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ugi Corp's operating margin?
Ugi Corp (UGI) had an operating margin of 15.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ugi Corp's net profit margin?
Ugi Corp (UGI) had a net profit margin of 9.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Ugi Corp pay dividends?
Yes, Ugi Corp (UGI) paid $1.50 per share in dividends during fiscal year 2025.
What is Ugi Corp's return on equity (ROE)?
Ugi Corp (UGI) has a return on equity of 14.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ugi Corp's free cash flow?
Ugi Corp (UGI) generated $390.0M in free cash flow during fiscal year 2025. This represents a 1.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ugi Corp's operating cash flow?
Ugi Corp (UGI) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ugi Corp's total assets?
Ugi Corp (UGI) had $15.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ugi Corp's capital expenditures?
Ugi Corp (UGI) invested $837.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ugi Corp's current ratio?
Ugi Corp (UGI) had a current ratio of 0.89 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Ugi Corp's debt-to-equity ratio?
Ugi Corp (UGI) had a debt-to-equity ratio of 1.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ugi Corp's return on assets (ROA)?
Ugi Corp (UGI) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ugi Corp's Altman Z-Score?
Ugi Corp (UGI) has an Altman Z-Score of 1.40, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ugi Corp's Piotroski F-Score?
Ugi Corp (UGI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ugi Corp's earnings high quality?
Ugi Corp (UGI) has an earnings quality ratio of 1.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ugi Corp cover its interest payments?
Ugi Corp (UGI) has an interest coverage ratio of 2.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ugi Corp?
Ugi Corp (UGI) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.