Ultrapar Participações S.A.
UGP · Price history
Price at last available close
$6.21
−$0.92 (-12.97%) 1M
2026-10-28
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Company & revenue
About Ultrapar Participações S.A.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Ultrapar Participações S.A. (UGP) is a Brazilian company with widespread operations in gas distribution, fuel supply, and logistics/storage. Its geographical reach extends across Brazil, Mexico, Uruguay, Venezuela, other Latin American nations, North America (US, Canada), the Far East, and Europe. Through its Gas Distribution division, the company delivers liquefied petroleum gas (LPG) to residential, commercial, and industrial clients.
How they make money
Ultrapar operates as a diversified conglomerate in Brazil, generating revenue primarily through the distribution of fuels and liquefied petroleum gas (LPG), the operation of liquid bulk storage terminals, and integrated logistics solutions. The company manages its business through key subsidiaries including Ipiranga, Ultragaz, Ultracargo, and Hidrovias, capturing value across the energy and infrastructure supply chains.
Products & services
Distribution of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and LPG; operation of convenience stores and lubricant services; liquid bulk storage; and integrated waterway transportation and logistics services.
Brands & revenue mix
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Petrobras — A primary supplier of refined petroleum products and fuels for the company's distribution network.Source
Competitors
Strengths
- Leading market positions in fuel distribution and logistics infrastructure in Brazil.Source
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
40
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
58
Fair
Financial Strength
35
Business Quality / Moat
67
Management
75
Growth Quality
60
Risk / Durability
68
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
32
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
39/100
Building Historical Record
Model Score 39/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Asset quality scores strongly
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for UGP
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can UGP maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is UGP's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is UGP's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify UGP's current valuation?
Essential Investment Snapshot
Wall Street Score
40
Opportunity Score
32
Market Cap
$6.63B
P/E Ratio
11.7
EPS
$0.62
52-Week High
$7.78
52-Week Low
$3.60
Beta
0.26
Intrinsic Value
$5.30
Analyst Target
$6.85
Shares Outstanding
1.10B
Total Revenue
$29.65B
Total Debt
$3.76B
Dividend
No current dividend
Liquidation Value / Share
$3.51
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Elevated movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for UGP
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on UGP.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Leading market positions in fuel distribution and logistics infrastructure in Brazil.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Oil & Gas Refining & Marketing industry.
- −Dependence on Petrobras for fuel supply and potential volatility in commodity prices.
- −Operational risks associated with logistics and infrastructure assets.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
2 historical score records availablePrevious Score
36
Jul 24, 2026
Change
+4.6
points
Current Score
40
Oct 1, 2026
Category Changes
UGP increased 4.6 points because Revenue improved by 6.1 points, Asset improved by 20.5 points, Management improved by 15 points.
Positive Contributors
- + Revenue improved by 6.1 points
- + Asset improved by 20.5 points
- + Management improved by 15 points
- + Moat improved by 2.3 points
- + Valuation improved by 4 points
- + Buffett improved by 7.3 points
Projected Score
Projected Score
49
Projected Change
+9.0 points
Preliminary comparable-period financial changes suggest improvement of approximately 9.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$6.19
Model Intrinsic Value
$5.30
Difference
+$0.89
+16.9% vs IV
Margin of Safety
-16.9%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.65B | $27.38B | $25.67B | $24.24B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $27.16B | $25.58B | $24.01B | $22.45B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $2.49B | $1.80B | $1.66B | $1.79B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $1.00B | $916.7M | $840.6M | $821.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $1.03B | $866.5M | $681.2M | $913.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $1.98B | $1.50B | $973.6M | $1.22B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $1.47B | $933.2M | $975.5M | $878.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $549.8M | $462.9M | $263.3M | $312.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $1.08B | $733.0M | $771.4M | $688.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $340.6M | $204.5M | $285.7M | $204.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $671.5M | $471.9M | $454.3M | $469.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.62 | $0.43 | $0.41 | $0.42 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 1.07B | 1.07B | 1.12B | 1.10B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 1.09B | 1.10B | 1.12B | 1.10B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$8.17B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.28
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+3.1%
Cash Change
+60.1%
Margin Change
+0.5 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 24.7%. EPS increased 48.0%. Cash increased 60.1%. Total debt increased 3.1%. Net income margin improved by 0.5 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
2 historical records2 historical score records available.
Historical Score Chart
2 of 2 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · UGP
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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