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Ultrapar Participações S.A. (UGPA3.SA)

BRL30.56 +0.45 (+1.49%)
BR SAO Energy Oil & Gas Refining & Marketing
Address Brigadeiro Luis AntOnio Avenue, 1343 01317-910
São Paulo, SP, BR
CEO Rodrigo de Almeida Pizzinatto
IPO 2002-12-11
ISIN BRUGPAACNOR8

Explore sections of this company profile

Also trades on B3 S.A. · UGPA3.SA (BRL) New York Stock Exchange · UGP (USD)
Description

Ultrapar Participações S.A. operates extensively in the energy sector, with core activities encompassing gas and fuel distribution, as well as storage solutions. While its primary operations are based in Brazil, the company maintains a broad international footprint, reaching markets in Mexico, Uruguay, Venezuela, other Latin American nations, the United States, Canada, the Far East, and Europe. Its Gas Distribution division delivers liquefied petroleum gas (LPG) to residential, commercial, and industrial clients, particularly across Brazil's Southern, Southeastern, and Northeastern regions. The Fuel Distribution segment handles the supply and marketing of various petroleum products, including gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants. This segment also manages convenience stores and provides specialized automotive and lubricant-changing services. Complementing these, the Storage segment manages liquid bulk terminals, predominantly located in Brazil's Southeast and Northeast. As of December 31, 2021, the company's significant infrastructure included 7,104 Ipiranga service stations, 1,841 AmPm convenience stores, 1,149 Jet Oil franchises, 4 distribution centers, and 7 Ultracargo terminals, collectively offering a storage capacity of 983,000 cubic meters. Furthermore, Ultrapar enhances customer engagement through digital offerings like the Abastece Aí payment application and the Km de Vantagens loyalty program. Founded in 1937, the company's headquarters are situated in São Paulo, Brazil.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
BRL30.56 +0.45 (+1.49%)
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Volume Profile
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Liquidity & share structure
Average Volume
6M
Beta
0.31
Float Shares
647.05M
Free Float %
60.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.49% -1.62% -2.37% +9.59% +30.08% +41.68% +82.83% +75.28% +50.28% -14.75% +8,578.00%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (6 ratings, all time) Hold
Price Targets & DCF
Current price
30.56
DCF (Unlevered) 54.76 +79.2%
DCF (Levered) 34.90 +14.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 50% Bullish
Rating 2026-05 Change
Strong Buy 4 0
Buy 4 -1
Hold 8 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
4.23
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
3 / 5
Medium
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Oil & Gas Refining & Marketing: -1.3%
    +6.6% Q2'26: +10.3% (vs Q1'25)
  • EPS growth Oil & Gas Refining & Marketing: +42.8%
    +6.2% Q2'26: +166.7% (vs Q1'25)
  • FCF margin FCF growth · Oil & Gas Refining & Marketing: +92.2%
    0.0% Q2'26: +0.5% (vs Q1'25)
  • EBIT margin Oil & Gas Refining & Marketing: +4.6%
    +3.2% Q2'26: +5.0% (vs Q1'25)
  • ROIC Oil & Gas Refining & Marketing: +5.9%
    +10.2% Q2'26: +14.8% (vs Q1'25)
  • Share dilution Oil & Gas Refining & Marketing: +0.0%
    -2.0% Q2'26: -1.6% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Oil & Gas Refining & Marketing: 0.89×
    3.53× Q2'26: 2.30× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.40) × ERP
WACC = 60% × Ke + 40% × Kd (11.7%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 54.76 Current price: 30.56
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
6 Rev. Ana.
2 EPS Ana.
Dec 2027
14 Rev. Ana.
6 EPS Ana.
Dec 2028
9 Rev. Ana.
5 EPS Ana.
Dec 2029
4 Rev. Ana.
1 EPS Ana.
Dec 2030
4 Rev. Ana.
1 EPS Ana.
Revenue
75.66B
est: 75.98B (-0.4%)
77.35B
est: 75.91B (+1.9%)
80.01B
est: 79.73B (+0.4%)
90.70B
est: 91.45B (-0.8%)
89.30B
est: 89.96B (-0.7%)
81.24B
est: 81.13B (+0.1%)
109.73B
est: 119.96B (-8.5%)
143.63B
est: 147.42B (-2.6%)
126.05B
est: 128.64B (-2.0%)
133.50B
est: 133.25B (+0.2%)
142.37B
est: 140.23B (+1.5%)
160.89B
149.55B – 170.82B
+14.7% YoY
159.01B
142.96B – 177.77B
-1.2% YoY
159.20B
159.02B – 159.38B
+0.1% YoY
170.48B
155.92B – 185.71B
+7.1% YoY
180.93B
165.47B – 197.09B
+6.1% YoY
EBITDA
4.24B
est: 2.96B (+43.4%)
4.60B
est: 2.95B (+55.7%)
4.18B
est: 3.10B (+34.6%)
3.58B
est: 3.56B (+0.4%)
2.94B
est: 3.50B (-16.0%)
3.05B
est: 3.16B (-3.4%)
2.77B
est: 4.67B (-40.8%)
4.48B
est: 5.74B (-21.9%)
6.34B
est: 5.16B (+22.9%)
6.72B
est: 5.34B (+25.9%)
6.18B
est: 5.62B (+9.9%)
6.45B
6.00B – 6.85B
+14.7% YoY
6.37B
5.73B – 7.13B
-1.2% YoY
6.38B
6.38B – 6.39B
+0.1% YoY
6.83B
6.25B – 7.44B
+7.1% YoY
7.25B
6.63B – 7.90B
+6.1% YoY
EBIT
3.23B
est: 2.20B (+46.3%)
3.50B
est: 2.20B (+58.8%)
3.39B
est: 2.31B (+46.5%)
2.65B
est: 2.65B (-0.3%)
1.80B
est: 2.61B (-31.1%)
1.76B
est: 2.35B (-25.1%)
1.85B
est: 3.48B (-46.8%)
3.46B
est: 4.28B (-19.1%)
3.86B
est: 4.00B (-3.6%)
5.51B
est: 4.15B (+32.9%)
4.59B
est: 4.36B (+5.2%)
5.01B
4.65B – 5.32B
+14.7% YoY
4.95B
4.45B – 5.53B
-1.2% YoY
4.96B
4.95B – 4.96B
+0.1% YoY
5.31B
4.85B – 5.78B
+7.1% YoY
5.63B
5.15B – 6.13B
+6.1% YoY
Net Income
1.50B
est: 1.46B (+3.1%)
1.56B
est: 1.53B (+2.2%)
1.57B
est: 1.63B (-3.7%)
1.15B
est: 1.06B (+8.1%)
373.53M
est: 968.76M (-61.4%)
893.38M
est: 864.76M (+3.3%)
850.46M
est: 813.05M (+4.6%)
1.80B
est: 1.09B (+65.0%)
2.44B
est: 2.83B (-13.9%)
2.36B
est: 2.03B (+16.3%)
2.45B
est: 2.55B (-3.9%)
2.83B
2.37B – 3.29B
+10.8% YoY
3.05B
2.77B – 3.34B
+7.5% YoY
3.41B
3.21B – 3.92B
+12.0% YoY
3.47B
3.09B – 3.88B
+1.8% YoY
3.54B
3.14B – 3.95B
+1.8% YoY
SGA
3.84B
est: 2.65B (+44.7%)
4.10B
est: 2.65B (+54.6%)
4.46B
est: 2.78B (+60.3%)
4.30B
est: 3.19B (+34.6%)
4.34B
est: 3.14B (+38.1%)
4.08B
est: 2.83B (+44.2%)
3.52B
est: 4.19B (-16.0%)
3.68B
est: 5.15B (-28.6%)
4.27B
est: 4.06B (+5.2%)
4.37B
est: 4.20B (+4.0%)
4.77B
est: 4.43B (+7.7%)
5.08B
4.72B – 5.39B
+14.7% YoY
5.02B
4.51B – 5.61B
-1.2% YoY
5.02B
5.02B – 5.03B
+0.1% YoY
5.38B
4.92B – 5.86B
+7.1% YoY
5.71B
5.22B – 6.22B
+6.1% YoY
EPS
1.38
est: 1.30 (+5.8%)
0.65
est: 1.37 (-52.4%)
1.45
est: 1.46 (-0.9%)
0.49
est: 0.95 (-48.5%)
0.16
est: 0.87 (-81.5%)
0.82
est: 0.77 (+6.0%)
0.78
est: 0.73 (+7.2%)
1.65
est: 0.96 (+72.0%)
2.23
est: 2.58 (-13.5%)
2.14
est: 1.85 (+15.7%)
2.29
est: 2.33 (-1.6%)
2.60
2.16 – 3.01
+11.9% YoY
2.76
2.53 – 3.05
+5.9% YoY
3.21
2.93 – 3.58
+16.6% YoY
3.17
2.82 – 3.54
-1.3% YoY
3.23
2.87 – 3.60
+1.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 B+ 3/5 3/5 5/5 4/5 1/5 3/5 3/5
2026-05-07 A- 4/5 4/5 5/5 4/5 1/5 3/5 3/5
2026-05-06 B+ 3/5 3/5 5/5 4/5 1/5 3/5 3/5
2026-05-05 B+ 3/5 3/5 5/5 4/5 1/5 3/5 3/5
2026-05-04 A- 4/5 4/5 5/5 4/5 1/5 3/5 3/5
2026-04-30 A- 4/5 4/5 5/5 4/5 1/5 3/5 3/5
2026-04-29 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-28 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-27 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-24 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-23 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-22 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-20 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-17 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5
2026-04-16 A- 4/5 4/5 5/5 5/5 1/5 3/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
4.11B
OE per share TTM
3.73
Owner's Yield
12.75%
Maintenance CapEx ratio
11.04%
Maint CapEx / Avg PPE
7.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 125 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares MSCI Brazil ETF EWZ 1.01% 92.91M 0.59%
2 Franklin FTSE Brazil UCITS ETF FLXB.L 0.90% 1.43M 0.19%
3 Franklin FTSE Brazil ETF FLBR 0.90% 4.87M 0.19%
4 iShares MSCI Brazil UCITS ETF USD (Dist) IDBZ.L 0.88% 4.48M 0.74%
5 iShares MSCI Brazil UCITS ETF (DE) 4BRZ.DE 0.88% 41.75M 0.27%
6 Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF EMHD.L 0.83% 2.35M 0.49%
7 Xtrackers MSCI Brazil UCITS ETF 1C XMBD.L 0.78% 2.04M 0.25%
8 MFS Blended Research Emerging Markets Equity ETF BREE 0.57% 140.7K 0.44%
9 Franklin FTSE Latin America ETF FLLA 0.53% 577.7K 0.19%
10 iShares MSCI EM Latin America UCITS ETF DLTM.L 0.46% 9.11M 0.20%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
459.2K
Shares Outstanding
1.07B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Alexandre Mendes Palhares Chief Financial & Investor Relations Officer male
Decio de Sampaio Amaral Chief Executive Officer of Hidrovias do Brasil & Member of Executive Board male
Fernanda Teves de Souza Risks, Compliance & Audit Director female
Fulvius Tomelin President male
Rodrigo de Almeida Pizzinatto Chief Executive Officer & Member of Executive Board male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits