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UGP · NYSE · United States · Natural Gas Distribution
In shortULTRAPAR HOLDINGS INC is profitable, generates cash and carries moderate debt, with revenue growing (+5.9% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 1.8% | 27/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 16.5% | 82/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.53× | 61/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.94× | 59/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 2.8% | 31/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.58× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 19.6% | 39/100 |
| Operating margin volatility | – | n/a |
Weight in the score: 20%
| Revenue growth, 3-year average | 6.8% | 54/100 |
|---|---|---|
| EPS growth, 3-year average | 39.7% | 100/100 |
Weight in the score: 10%
Fiscal year 2024 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
BRL millions; negative values in parentheses.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 86,754 | 109,733 | 143,635 | 126,049 | 133,499 |
| Cost of revenue | 70,056 | 104,828 | 136,276 | 116,730 | 123,812 |
| Gross profit | 4,002 | 4,905 | 7,358 | 9,318 | 9,687 |
| Research & development | 64 | – | – | – | – |
| Selling, general & admin | 2,605 | – | – | – | – |
| Interest expense | 908 | 1,223 | 2,176 | 1,880 | 1,813 |
| Pre-tax income | 952 | 1,007 | 1,880 | 3,579 | 4,012 |
| Income tax | 305 | 188 | 342 | 1,061 | 1,486 |
| Net income | 893 | 850 | 1,801 | 2,440 | 2,363 |
| Diluted EPS | BRL0.82 | BRL0.78 | BRL1.64 | BRL2.21 | BRL2.11 |
| Diluted shares (millions) | 1,096 | 1,097 | 1,099 | 1,105 | 1,118 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Apr 23, 2025