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Ultrapar USD

Update

Sector: Fuel distribution

BR_UGP

Price chart

4.77 USDDay -2.45%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
4.77 USD · -2.45%
Market cap
5.1 bn USD

Growth

Δ revenue y/y
10.3%
Δ EBITDA y/y
86.3%

Multiples

P/E (LTM)
6.5x
3y avg: 8.9x
P/B (FY)
1.8x
P/E (ann.)
8.2x
EV/EBITDA (LTM)
4.2x
3y avg: 5.8x
EV/EBITDA (ann.)
4.9x

Cash return

Dividend yield
—
FCF yield (LTM)
19.2%

Value creation

fundamental value/yr, % of market cap
Value created / year
+7.8%
↓ details

Liquidity

Daily turnover (listing)
14 mln USD

Shares: yahoo_fundamentals_timeseries/UGP

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 5 / Warn: 3 / Err: 0 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-12-31 FY✓OK
2024-12-31 FY✓OK
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3✓OK
2025-12-31 FY✓OK
2025-12-31 Q4✓OK
2026-03-31 Q1⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK6.6
y/y 10.3%
0.3
y/y 100.5%
0.1
y/y 44.0%
0.4
y/y 86.3%
0.2
y/y 163.1%
0.2-0.19.0
y/y 33.0%
2.9
y/y 8.4%
21.8%2.8Link
2025-12-31Q4 2025 (3M)OK18.8
y/y —
0.6
y/y —
0.2
y/y —
0.8
y/y —
0.3
y/y —
0.6-0.38.8
y/y 20.2%
2.8
y/y -0.4%
15.3%3.0Link
2025-09-30Q3 2025 (3M)OK6.6
y/y —
0.3
y/y —
0.1
y/y —
0.3
y/y —
0.1
y/y —
0.2-0.18.1
y/y —
2.9
y/y —
5.8%2.5Link
2025-06-30Q2 2025 (3M)OK6.1
y/y —
0.3
y/y —
0.1
y/y —
0.3
y/y —
0.2
y/y —
-0.4-0.18.2
y/y —
2.9
y/y —
27.8%2.6Link
2025-03-31Q1 2025 (3M)OK6.0
y/y —
0.2
y/y —
0.1
y/y —
0.2
y/y —
0.1
y/y —
0.5-0.16.7
y/y —
2.7
y/y —
8.6%2.2Link
2024-12-31FY 2024 (12M)OK24.8
y/y -1.8%
0.9
y/y 4.1%
0.2
y/y -5.0%
1.1
y/y 2.7%
0.5
y/y -7.0%
0.7-0.37.3
y/y -4.1%
2.8
y/y 4.0%
17.0%2.2Link
2023-12-31FY 2023 (12M)OK25.2
y/y —
0.9
y/y —
0.2
y/y —
1.0
y/y —
0.5
y/y —
0.8-0.37.7
y/y —
2.7
y/y —
—1.2Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 0002023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-25%0%25%50%75%2023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-500-25002505007502023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0002023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +3% vs -2% the year before — a +4.6 pp move. 3-year CAGR -3%.
revenue growth by year: 2023 -9% · 2024 -2% · 2025 +3%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +7.5%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31)
= (404 − 217) × 3.32
156
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (5 112 + 2 783) ÷ 1 343
5.9x
3. Target multiple
(Current EV/EBITDA + 7) ÷ 2
= (5.9 + 7) ÷ 2
6.4x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -616 + 0 + 0 − 0
-616
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (156 × 6.4 + -616) ÷ 5 112
+7.5%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2025-03-100.078 USDEx-dividend: 0.078 USD per sharePaidYahoo Finance (ex-div)
2024-08-190.045 USDEx-dividend: 0.045 USD per sharePaidYahoo Finance (ex-div)
2024-03-080.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2023-08-180.052 USDEx-dividend: 0.052 USD per sharePaidYahoo Finance (ex-div)
2023-02-240.019 USDEx-dividend: 0.019 USD per sharePaidYahoo Finance (ex-div)
2022-05-240.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2022-03-040.033 USDEx-dividend: 0.033 USD per sharePaidYahoo Finance (ex-div)
2021-08-250.001 USDEx-dividend: 0.001 USD per sharePaidYahoo Finance (ex-div)
2021-08-200.038 USDEx-dividend: 0.038 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://ri.ultra.com.br/en/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)