Ultrapar Participacoes S.A. (UGP) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 29, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2024, filed Apr 23, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UGP SEC filings page.
Ultrapar Participacoes S.A. (UGP) reported $21.6B in revenue for fiscal year 2024, down 16.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Financial Health Signals
Scored against energy companies for FY2024. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ultrapar Participacoes S.A.'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.
Ultrapar Participacoes S.A.'s revenue declined 16.9% year-over-year, from $26.0B to $21.6B. This contraction results in a growth score of 15/100.
Ultrapar Participacoes S.A. has a moderate D/E ratio of 0.71. This balance of debt and equity financing earns a leverage score of 57/100.
Ultrapar Participacoes S.A.'s current ratio of 1.53 indicates adequate short-term liquidity, earning a score of 57/100. The company can meet its near-term obligations, though with limited headroom.
Ultrapar Participacoes S.A. earns a strong 15.6% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 88/100. This is down from 18.1% the prior year.
Ultrapar Participacoes S.A. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Ultrapar Participacoes S.A. generates $1.58 in operating cash flow ($604.1M OCF vs $382.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Ultrapar Participacoes S.A. generated $21.6B in revenue in fiscal year 2024. This represents a decrease of 16.9% from the prior year.
Ultrapar Participacoes S.A. reported $382.1M in net income in fiscal year 2024. This represents a decrease of 24.0% from the prior year.
Ultrapar Participacoes S.A. earned $0.34 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 24.9% from the prior year.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Ultrapar Participacoes S.A. held $335.0M in cash against $1.7B in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Ultrapar Participacoes S.A.'s gross margin was 7.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Ultrapar Participacoes S.A.'s net profit margin was 1.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Ultrapar Participacoes S.A.'s ROE was 15.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
Not reported for fiscal year 2024.
Capital Allocation
Ultrapar Participacoes S.A. spent $24.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
UGP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.6B-16.9% | $26.0B-4.4% | $27.2B+38.0% | $19.7B+38.0% | $14.3B-31.0% | $20.7B-11.6% | $23.4B-2.3% | $23.9B+1.4% | $23.6B+23.4% | $19.1B |
| Cost of Revenue | $20.0B-16.8% | $24.1B-6.7% | $25.8B+37.1% | $18.8B+39.4% | $13.5B-30.7% | $19.5B-10.7% | $21.8B-0.4% | $21.9B+1.3% | $21.6B+23.9% | $17.4B |
| Gross Profit | $1.6B-18.4% | $1.9B+38.0% | $1.4B+58.2% | $879.8M+14.2% | $770.5M-35.4% | $1.2B-24.8% | $1.6B-22.7% | $2.1B+2.1% | $2.0B+18.5% | $1.7B |
| R&D Expenses | N/A | N/A | N/A | N/A | $12.3M-19.9% | $15.3M-5.7% | $16.3M-3.6% | $16.9M+9.4% | $15.4M+47.5% | $10.4M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $17.9M-70.7% | $61.2M+378.7% | $12.8M |
| Interest Expense | $199.8M-34.6% | $305.5M+10.2% | $277.2M+115.5% | $128.6M+1.4% | $126.9M+10.9% | $114.5M-44.1% | $204.8M-36.0% | $319.9M-23.3% | $416.8M+46.1% | $285.3M |
| Income Tax | $240.2M+9.9% | $218.7M+238.4% | $64.6M+91.5% | $33.7M-42.5% | $58.6M-49.9% | $116.9M+17127.3% | $679Kn/m | -$278.5Mn/m | -$246.1Mn/m | -$181.7M |
| Net Income | $382.1M-24.0% | $502.8M+47.6% | $340.7M+123.3% | $152.6M-11.3% | $172.0M+85.1% | $92.9M-68.7% | $296.5M-35.7% | $460.9M-2.5% | $472.7M+24.5% | $379.7M |
| EPS (Basic) | $0.35-24.5% | $0.46+47.1% | $0.31+123.0% | $0.14-11.4% | $0.16+84.7% | $0.09 | $0.27 | $0.43-2.6% | $0.44 | $0.70 |
| EPS (Diluted) | $0.34-24.9% | $0.46+46.8% | $0.31+122.9% | $0.14-11.4% | $0.16+84.7% | $0.09 | $0.27 | $0.42-2.6% | $0.43 | $0.69 |
| Diluted Shares (Avg) | 1.12B+1.1% | 1.10B+0.6% | 1.10B+0.2% | 1.10B+0.1% | 1.10B+0.3% | 1.09B | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
UGP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.4B-18.9% | $7.9B+14.4% | $6.9B-1.5% | $7.0B+0.3% | $7.0B-10.1% | $7.8B-1.2% | $7.9B-8.0% | $8.5B+15.0% | $7.4B | N/A |
| Current Assets | $2.6B-32.5% | $3.8B+9.4% | $3.5B-21.8% | $4.5B+33.3% | $3.4B-10.1% | $3.7B-10.3% | $4.2B-10.7% | $4.7B+16.9% | $4.0B | N/A |
| Cash & Equivalents | $335.0M-72.6% | $1.2B+14.8% | $1.1B+160.0% | $409.0M-20.2% | $512.5M-2.6% | $526.3M-48.1% | $1.0B-32.8% | $1.5B+14.9% | $1.3B+92.5% | $682.7M |
| Inventory | $633.4M-28.4% | $884.4M-4.7% | $928.1M+32.0% | $702.9M-5.1% | $740.6M-19.9% | $924.5M+6.9% | $864.5M-18.5% | $1.1B+25.0% | $848.8M | N/A |
| Accounts Receivable | $47.7M-12.3% | $54.4M+65.0% | $32.9M+226.8% | $10.1M-8.1% | $11.0M+19.9% | $9.1M-39.4% | $15.1M+13.5% | $13.3M+110.2% | $6.3M | N/A |
| Goodwill | $308.6M-41.4% | $526.4M+45.0% | $362.9M+37.5% | $263.9M-23.1% | $343.2M-21.7% | $438.6M-28.2% | $610.6M-9.6% | $675.7M+16.2% | $581.5M-30.1% | $831.9M |
| Total Liabilities | $3.9B-22.6% | $5.1B+9.0% | $4.7B-9.9% | $5.2B+0.9% | $5.1B-4.9% | $5.4B-0.3% | $5.4B-5.6% | $5.7B+19.6% | $4.8B | N/A |
| Current Liabilities | $1.7B-26.7% | $2.3B-4.2% | $2.4B+6.5% | $2.3B+27.4% | $1.8B+37.7% | $1.3B-20.8% | $1.6B-22.8% | $2.1B+25.5% | $1.7B | N/A |
| Non-Current Liabilities | $2.1B-20.0% | $2.7B+23.1% | $2.2B-23.7% | $2.9B-13.4% | $3.3B-18.1% | $4.0B+8.7% | $3.7B+5.2% | $3.5B+13.1% | $3.1B | N/A |
| Long-Term Debt | $1.7B-13.7% | $2.0B+26.9% | $1.6B-34.5% | $2.4B-10.9% | $2.7B-24.1% | $3.6B-8.1% | $3.9B | N/A | N/A | N/A |
| Total Equity | $2.5B-11.9% | $2.8B+25.7% | $2.2B+22.7% | $1.8B-1.6% | $1.8B-22.0% | $2.4B-3.3% | $2.4B-12.8% | $2.8B+6.5% | $2.6B+30.2% | $2.0B |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Retained Earnings.
UGP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $604.1M-23.9% | $793.4M+109.2% | $379.2M-18.2% | $463.9M-23.2% | $604.2M-17.0% | $727.8M-2.2% | $744.5M+41.8% | $525.1M-14.1% | $611.4M-24.4% | $808.6M |
| Depreciation & Amortization | $145.6M-16.8% | $175.0M+25.2% | $139.8M+18.0% | $118.4M+3.3% | $114.7M-16.5% | $137.3M | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | $208.7M+18.7% | $175.8M-4.7% | $184.5M+27.6% | $144.5M-19.4% | $179.3M-40.9% | $303.7M-22.8% | $393.2M+23.7% | $317.8M+56.6% | $202.9M |
| Free Cash Flow | N/A | $584.7M+187.4% | $203.5M-27.2% | $279.4M-39.2% | $459.7M-16.2% | $548.4M+24.4% | $440.8M+234.2% | $131.9M-55.1% | $293.5M-51.5% | $605.7M |
| Investing Cash Flow | -$1.0Bn/m | -$210.5M-114.1% | $1.5B+1051.0% | $129.9Mn/m | -$411.4Mn/m | -$456.6Mn/m | -$818.9Mn/m | -$414.2Mn/m | -$407.0Mn/m | -$202.5M |
| Financing Cash Flow | -$199.6Mn/m | -$514.1Mn/m | -$1.3Bn/m | -$601.9Mn/m | -$114.1Mn/m | -$727.1Mn/m | -$206.4M-300.9% | $102.8M-64.0% | $285.4Mn/m | -$636.7M |
| Dividends Paid | $134.8M+63.5% | $82.4M-31.7% | $120.7M-4.6% | $126.6M+130.9% | $54.8M-63.1% | $148.4M-28.8% | $208.4M-26.6% | $283.9M+5.8% | $268.4M+27.8% | $210.1M |
| Share Buybacks | $24.1M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation.
UGP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.3%-0.1pp | 7.4%+2.3pp | 5.1%+0.7pp | 4.5%-0.9pp | 5.4%-0.4pp | 5.8%-1.0pp | 6.8%-1.8pp | 8.6%+0.1pp | 8.5%-0.4pp | 8.9% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1%-0.2pp | 0.3%+0.2pp | 0.1% |
| Net Margin | 1.8%-0.2pp | 1.9%+0.7pp | 1.3%+0.5pp | 0.8%-0.4pp | 1.2%+0.8pp | 0.4%-0.8pp | 1.3%-0.7pp | 1.9%-0.1pp | 2.0%0.0pp | 2.0% |
| Return on Equity | 15.6%-2.5pp | 18.1%+2.7pp | 15.4%+6.9pp | 8.5%-0.9pp | 9.4%+5.4pp | 4.0%-8.2pp | 12.2%-4.3pp | 16.5%-1.5pp | 18.0%-0.8pp | 18.9% |
| Return on Assets | 6.0%-0.4pp | 6.4%+1.4pp | 4.9%+2.8pp | 2.2%-0.3pp | 2.5%+1.3pp | 1.2%-2.6pp | 3.8%-1.6pp | 5.4%-1.0pp | 6.4% | N/A |
| Current Ratio | 1.53-0.1x | 1.66+0.2x | 1.45-0.5x | 1.98+0.1x | 1.89-1.0x | 2.90+0.3x | 2.56+0.3x | 2.21-0.2x | 2.37 | N/A |
| Debt-to-Equity | 0.710.0x | 0.720.0x | 0.72-0.6x | 1.34-0.1x | 1.480.0x | 1.52-0.1x | 1.60 | N/A | N/A | N/A |
| Liabilities-to-Equity | 1.61-0.2x | 1.83-0.3x | 2.11-0.8x | 2.88+0.1x | 2.80+0.5x | 2.30+0.1x | 2.23+0.2x | 2.06+0.2x | 1.83 | N/A |
| Asset Turnover | 3.37+0.1x | 3.30-0.6x | 3.94+1.1x | 2.81+0.8x | 2.04-0.6x | 2.66-0.3x | 2.97+0.2x | 2.80-0.4x | 3.18 | N/A |
| FCF Margin | N/A | 2.3%+1.5pp | 0.8%-0.7pp | 1.4%-1.8pp | 3.2%+0.6pp | 2.7%+0.8pp | 1.9%+1.3pp | 0.5%-0.7pp | 1.2%-1.9pp | 3.2% |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ultrapar Participacoes S.A. UGP | FY2024 | $21.6B | $382.1M | 1.8% | $6.4B | 48/100 |
| Icahn Enterprises L.P IEP | FY2025 | $9.7B | -$299.0M | -3.1% | $3.7B | 28/100 |
| PBF ENERGY INC. PBF | FY2025 | $29.3B | -$158.5M | -0.5% | $9.0B | 21/100 |
| CVR ENERGY, INC. CVI | FY2025 | $7.2B | $27.0M | 0.4% | $5.7B | 38/100 |
Where Ultrapar Participacoes S.A. Ranks
Frequently Asked Questions
What is Ultrapar Participacoes S.A.'s annual revenue?
Ultrapar Participacoes S.A. (UGP) reported $21.6B in total revenue for fiscal year 2024. This represents a -16.9% 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 Ultrapar Participacoes S.A.'s revenue growing?
Ultrapar Participacoes S.A. (UGP) revenue declined by 16.9% year-over-year, from $26.0B to $21.6B in fiscal year 2024.
Is Ultrapar Participacoes S.A. profitable?
Yes, Ultrapar Participacoes S.A. (UGP) reported a net income of $382.1M in fiscal year 2024, with a net profit margin of 1.8%.
How much debt does Ultrapar Participacoes S.A. have?
As of fiscal year 2024, Ultrapar Participacoes S.A. (UGP) had $335.0M in cash and equivalents against $1.7B in long-term debt.
What is Ultrapar Participacoes S.A.'s gross margin?
Ultrapar Participacoes S.A. (UGP) had a gross margin of 7.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ultrapar Participacoes S.A.'s net profit margin?
Ultrapar Participacoes S.A. (UGP) had a net profit margin of 1.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Ultrapar Participacoes S.A.'s return on equity (ROE)?
Ultrapar Participacoes S.A. (UGP) has a return on equity of 15.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ultrapar Participacoes S.A.'s operating cash flow?
Ultrapar Participacoes S.A. (UGP) generated $604.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ultrapar Participacoes S.A.'s total assets?
Ultrapar Participacoes S.A. (UGP) had $6.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What is Ultrapar Participacoes S.A.'s current ratio?
Ultrapar Participacoes S.A. (UGP) had a current ratio of 1.53 as of fiscal year 2024, which is generally considered healthy.
What is Ultrapar Participacoes S.A.'s debt-to-equity ratio?
Ultrapar Participacoes S.A. (UGP) had a debt-to-equity ratio of 0.71 as of fiscal year 2024. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Ultrapar Participacoes S.A.'s liabilities-to-equity ratio?
Ultrapar Participacoes S.A. (UGP) had a liabilities-to-equity ratio of 1.61 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Ultrapar Participacoes S.A.'s return on assets (ROA)?
Ultrapar Participacoes S.A. (UGP) had a return on assets of 6.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ultrapar Participacoes S.A.'s P/E ratio?
Ultrapar Participacoes S.A. (UGP) trades at 16.7x earnings, its market capitalization divided by $382.1M net income, FY2024. The market capitalization is $6.4B as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ultrapar Participacoes S.A.'s price-to-sales ratio?
Ultrapar Participacoes S.A. (UGP) trades at 0.3x sales, its market capitalization divided by $21.6B revenue, FY2024. The market capitalization is $6.4B as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ultrapar Participacoes S.A.'s Piotroski F-Score?
Ultrapar Participacoes S.A. (UGP) has a Piotroski F-Score of 5 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 Ultrapar Participacoes S.A.'s earnings high quality?
Ultrapar Participacoes S.A. (UGP) has an earnings quality ratio of 1.58x, 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.
How financially healthy is Ultrapar Participacoes S.A.?
Ultrapar Participacoes S.A. (UGP) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.