# Ultrapar Participacoes S.A. (New) (Each representing one Common Share) (UGP) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Energy / Oil, Gas & Fuels. Price $5.64, market value $6.0 billion.

## Valuation
- **P/E (trailing): 9.1×** (5-yr avg 1.9×, 3-yr avg 1.7×). Ultrapar Participacoes S.A. (New) (Each representing one Common Share) trades at 9.1× trailing earnings, well above its own five-year average of 1.9×: investors are paying up relative to the company's past. The Energy median in the September 2026 study was 16.8×. Forward P/E is 8.9×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.44**. A PEG of 1.44 is in the range usually read as fairly priced for its growth.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.7×**. The shares trade at 1.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 4.7×**. Enterprise value is 4.7× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 25.7%** (5-yr avg 59.5%). Free cash flow equals 25.7% of the market value, below its five-year average of 59.5%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 11.0%**. The inverse of the P/E: 11.0% of the price is earned each year.

## Profitability
- **Gross margin: 8.4%**. Ultrapar Participacoes S.A. (New) (Each representing one Common Share) keeps 8.4% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 4.9%**. 4.9% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 1.7%**. 1.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 15.7%**. 15.7% on shareholders' equity is solid.
- **Return on invested capital: 16.9%**. Return on all capital, debt included, is 16.9%: comfortably above what that capital costs.
- **Return on assets: 7.0%**. Each dollar of assets produces 7.0% of profit.

## Growth
- **Revenue growth (1 yr): 6.6%** (3-yr -0.3%/yr, 5-yr 14.0%/yr). Revenue grew 6.6% over the last year, against 14.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 6.2%** (3-yr 11.0%/yr, 5-yr 22.4%/yr). Earnings per share rose 6.2%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 47.4%/yr**. Free cash flow has compounded at 47.4% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 1.39**. Debt is 1.39 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 1.4×**. It would take 1.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 2.6×**. Operating profit covers interest 2.6×, thin but manageable.
- **Current ratio: 1.62** (quick 1.26). Current assets cover the next year's liabilities 1.62 times.
- **Altman Z-score: 3.95**. A Z-score of 3.95 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 6.66%** ($0.38 per share, trailing). Ultrapar Participacoes S.A. (New) (Each representing one Common Share) yields 6.66%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 89%** (20% of free cash flow). 89% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 39.1%/yr** (1-yr 129.4%). The dividend has compounded at 39.1% a year over five years, doubling roughly every 2 years at that pace.

## Analyst view
- **Analyst consensus: buy** (7 analysts). 7 analysts cover Ultrapar Participacoes S.A. (New) (Each representing one Common Share); the consensus is buy, with an average price target of $7.57 (+34% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 43.9%** (YTD 51.2%, 3-mo -12.2%). The shares are up 43.9% over twelve months including dividends.
- **From 52-week high: -31.9%** (56.7% above the low). Trading 32% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 20**. An RSI of 20 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 0.65** (volatility 38%). Beta of 0.65 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=UGP · Page: https://foliofundamentals.com/stocks/ugp

Not investment advice.