UGI Corporation (UGI) 10-Year Financial Performance & Capital Metrics

UGI • • Utilities

UtilitiesGas UtilitiesIntegrated Gas InfrastructureDiversified Energy Utilities

AboutUGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.4 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,600 propane distribution location. The company also distributes liquefied petroleum gases (LPG) to residential, commercial, industrial, agricultural, wholesale and automobile fuel customers; and provides logistics, storage, and other services to third-party LPG distributors. In addition, it engages in the retail sale of natural gas, liquid fuels, and electricity to approximately 12,600 residential, commercial, and industrial customers at 42,400 locations. Further, the company distributes natural gas to approximately 672,000 customers in eastern and central Pennsylvania counties through its distribution system of approximately 12,400 miles of gas mains; and supplies electricity to approximately 62,500 customers in northeastern Pennsylvania through 2,600 miles of lines and 14 substations. Additionally, it operates electric generation facilities, which include coal-fired, landfill gas-fueled, solar-powered, and natural gas-fueled facilities; a natural gas liquefaction, storage, and vaporization facility; propane storage and propane-air mixing stations; and rail transshipment terminals. It also manages natural gas pipeline and storage contracts; develops, owns, and operates pipelines, gathering infrastructure, and gas storage facilities. UGI Corporation was incorporated in 1991 and is based in King of Prussia, Pennsylvania.Show more

Revenue $7.29B +1.1%
EBITDA $1.62B -1.2%
Net Income $678M +152.0%
Free Cash Flow $390M +1.0%
EBITDA Margin 22.23% -2.3%
Net Margin 9.3% +149.3%
ROE 14.84% +141.2%
Interest Coverage 2.58 -6.8%
Debt/Equity 1.58 -3.7%
Net Debt/EBITDA 4.45 +5.3%
CapEx / Revenue 11.48% +4.0%
CapEx Coverage 1.47 -1.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.9%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.86%

5Y2.16%

3Y-10.35%

TTM-0.52%

Profit (Net Income) CAGR

10Y9.21%

5Y4.97%

3Y-14.19%

TTM-37.89%

EPS CAGR

10Y6.8%

5Y4.08%

3Y-14.65%

TTM-39.1%

ROCE

10Y Avg8.1%

5Y Avg6.76%

3Y Avg7.98%

Latest7.99%

Peer Comparison

Diversified Energy Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NINiSource Inc.	20.6B	43.53	26.87	-0.91%	14.16%	7.97%		1.31
CPKChesapeake Utilities Corporation	2.98B	125.90	23.94	17.39%	14.77%	8.62%		1.07
NJRNew Jersey Resources Corporation	4.79B	47.55	14.28	13.94%	19.7%	16.99%	9.73%	1.58
UGIUGI Corporation	8.05B	37.48	12.13	1.1%	5.7%	8.56%	4.84%	1.58
SPHSuburban Propane Partners, L.P.	1.27B	19.15	11.82	7.94%	6.79%	15.03%	4.58%	0.20

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Revenue+	5.69B	6.12B	7.66B	7.31B	6.55B	7.46B	10.12B	8.92B	7.21B	7.29B
Revenue Growth %	-0.15%	0.08%	0.25%	-0.04%	-0.1%	0.14%	0.36%	-0.12%	-0.19%	0.01%
Cost of Revenue	2.79B	3.44B	4.68B	4.43B	3.6B	4.66B	7.67B	5.7B	3.99B	4.22B
Gross Profit+	2.9B	2.69B	2.97B	2.88B	2.95B	2.8B	2.44B	3.22B	3.22B	3.07B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.02%	-0.07%	0.11%	-0.03%	0.02%	-0.05%	-0.13%	0.32%	0%	-0.05%
Operating Expenses+	1.88B	1.87B	2.01B	1.94B	1.85B	1.89B	2B	2.14B	2.13B	2.01B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	1.42B	1.23B	1.42B	1.39B	1.58B	1.41B	966M	1.61B	1.64B	1.62B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.09%	-0.13%	0.15%	-0.02%	0.14%	-0.11%	-0.32%	0.67%	0.02%	-0.01%
Depreciation & Amortization+	400.9M	416.3M	455.1M	448.1M	484M	502M	518M	532M	551M	561M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	1.02B	811.9M	961M	942.4M	1.1B	909M	448M	1.08B	1.09B	1.06B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.14%	-0.2%	0.18%	-0.02%	0.17%	-0.17%	-0.51%	1.41%	0.01%	-0.03%
Interest Expense+	224.4M	219.6M	225.1M	253.3M	309M	310M	322M	379M	394M	411M
Interest Coverage	4.53x	3.70x	4.27x	3.72x	3.56x	2.93x	1.39x	2.85x	2.76x	2.58x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K
Pretax Income+	710M	701.4M	855M	401M	667M	1.99B	1.39B	-1.84B	340M	696M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	221.2M	177.6M	33M	93M	135M	522M	313M	-335M	71M	18M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	364.7M	436.6M	719M	256M	532M	1.47B	1.07B	-1.5B	269M	678M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.3%	0.2%	0.65%	-0.64%	1.08%	1.76%	-0.27%	-2.4%	1.18%	1.52%
EPS (Diluted)+	2.08	2.46	4.06	1.41	2.53	6.92	4.97	-7.16	1.25	3.09
EPS Growth %	0.3%	0.18%	0.65%	-0.65%	0.79%	1.74%	-0.28%	-2.44%	1.17%	1.47%
EPS (Basic)	2.11	2.51	4.13	1.44	2.55	7.02	5.11	-7.16	1.27	3.15
Diluted Shares Outstanding	175.57M	177.16M	176.91M	181.11M	209.87M	212.13M	215.82M	209.81M	215.27M	219.16M

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Assets+	10.85B	11.58B	11.98B	13.35B	13.98B	16.72B	17.57B	15.4B	15.1B	15.46B
Asset Growth %	0.03%	0.07%	0.03%	0.11%	0.05%	0.2%	0.05%	-0.12%	-0.02%	0.02%
PP&E (Net)+	5.24B	5.54B	5.81B	6.69B	6.96B	7.56B	8.04B	8.97B	8.76B	9.5B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	1.42B	1.7B	1.89B	1.57B	1.54B	3.27B	3.8B	2.04B	1.65B	1.77B
Cash & Equivalents	502.8M	558.4M	452.6M	447M	336M	855M	405M	241M	213M	355M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	210.3M	278.6M	318.2M	230M	241M	469M	665M	433M	411M	385M
Other Current Assets	49.7M	136.5M	221.2M	161M	124M	788M	1.34B	301M	113M	134M
Long-Term Investments	102.5M	129.6M	190.7M	285.6M	294M	512M	695M	0	379M	400M
Goodwill	2.99B	3.11B	3.16B	3.46B	3.52B	3.77B	3.61B	3.03B	2.87B	2.85B
Intangible Assets	580.3M	611.7M	513.6M	709M	677M	583M	500M	443M	391M	328M
Other Assets	616.1M	628.8M	610.6M	928M	1.29B	1.54B	1.62B	919M	1.04B	620M
Total Liabilities	7.25B	7.84B	7.88B	9.52B	9.85B	11.19B	11.5B	11.01B	10.74B	10.68B
Total Debt+	4.09B	4.54B	4.59B	6.6B	6.38B	6.82B	7B	7.25B	7.14B	7.56B
Net Debt	3.58B	3.98B	4.14B	6.15B	6.04B	5.96B	6.59B	7.01B	6.93B	7.21B
Long-Term Debt	3.77B	3.99B	4.15B	5.78B	5.98B	6.34B	6.48B	6.54B	6.44B	6.48B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	375M	359M	335M	385M	484M	0
Total Current Liabilities+	1.44B	1.69B	1.73B	2.03B	1.75B	2.3B	2.44B	2.27B	2.06B	1.98B
Accounts Payable	391.2M	439.6M	561.8M	439M	475M	837M	891M	613M	544M	511M
Accrued Expenses	163.2M	185.4M	192.8M	196M	162M	181M	147M	142M	196M	203M
Deferred Revenue	241.3M	206.9M	191.2M	168M	204M	208M	225M	232M	199M	0
Other Current Liabilities	325.1M	313.8M	342.6M	405M	514M	594M	664M	581M	421M	573M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	828.5M	799.6M	1.01B	1.17B	1.47B	1.42B	1.27B	1.26B	1.23B	855M
Total Equity+	3.6B	3.74B	4.1B	3.83B	4.14B	5.53B	6.07B	4.39B	4.35B	4.79B
Equity Growth %	0.01%	0.04%	0.1%	-0.07%	0.08%	0.34%	0.1%	-0.28%	-0.01%	0.1%
Shareholders Equity	2.84B	3.16B	3.68B	3.82B	4.13B	5.52B	6.07B	4.39B	4.34B	4.78B
Minority Interest	750.9M	577.6M	418.6M	10M	9M	9M	8M	8M	9M	9M
Common Stock	1.2B	1.19B	1.2B	1.4B	1.42B	1.39B	1.48B	1.5B	1.68B	1.71B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	1.83B	2.11B	2.61B	2.65B	2.91B	4.08B	4.84B	3.03B	2.98B	3.33B
Accumulated OCI	-154.7M	-93.4M	-110.4M	-217M	-147M	-140M	-380M	-256M	-253M	-173M
Return on Assets (ROA)	0.03%	0.04%	0.06%	0.02%	0.04%	0.1%	0.06%	-0.09%	0.02%	0.04%
Return on Equity (ROE)	0.1%	0.12%	0.18%	0.06%	0.13%	0.3%	0.18%	-0.29%	0.06%	0.15%
Debt / Equity	1.14x	1.21x	1.12x	1.72x	1.54x	1.23x	1.15x	1.65x	1.64x	1.58x
Debt / Assets	0.38%	0.39%	0.38%	0.49%	0.46%	0.41%	0.4%	0.47%	0.47%	0.49%
Net Debt / EBITDA	2.53x	3.24x	2.92x	4.43x	3.81x	4.22x	6.83x	4.35x	4.23x	4.45x
Book Value per Share	20.48	21.12	23.18	21.13	19.71	26.07	28.14	20.94	20.23	21.84

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	969.7M	964.4M	1.08B	1.08B	1.1B	1.48B	716M	1.11B	1.18B	1.23B
Operating CF Growth %	-0.17%	-0.01%	0.13%	-0.01%	0.02%	0.34%	-0.52%	0.55%	0.07%	0.04%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	488.8M	523.8M	822M	308M	532M	1.47B	1.07B	-1.5B	269M	678M
Depreciation & Amortization	400.9M	416.3M	455M	448M	484M	502M	518M	532M	551M	561M
Deferred Taxes	77.4M	110.1M	-69M	-43M	146M	478M	221M	-420M	52M	-46M
Other Non-Cash Items	-64.3M	63.5M	-11M	253M	21M	-796M	-568M	2.21B	326M	54M
Working Capital Changes	43.1M	-168.6M	-135M	94M	-96M	-191M	-544M	269M	-24M	-20M
Capital Expenditures+	-563.8M	-638.9M	-574M	-2.06B	-655M	-1.11B	-804M	-974M	-796M	-837M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-558.6M	-768.7M	-749M	-2.06B	-649M	-1.11B	-1.01B	-1.08B	-792M	-699M
Acquisitions	-61.2M	-100.8M	-187M	-1.36B	-16M	-423M	-245M	-125M	1M	170M
Purchase of Investments	0	0	0	0	0	0	0	0	0	-38M
Sale of Investments	0	0	0	0	0	0	1000K	1000K	1000K	0
Other Investing	66.4M	-29M	12M	12M	22M	0	11M	0	0	6M
Cash from Financing+	-275.1M	-146.6M	-438M	1.04B	-635M	166M	-51M	-168M	-506M	-406M
Dividends Paid	-418M	-430.5M	-440M	-463M	-273M	-282M	-296M	-308M	-318M	-322M
Dividend Payout Ratio %	1.15%	0.99%	0.61%	1.81%	0.51%	0.19%	0.28%	-	1.18%	0.47%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Stock Issued	13.7M	11M	35M	17M	2M	19M	19M	12M	0	18M
Share Repurchases	-47.6M	-43.3M	-60M	-17M	-38M	0	-38M	-22M	0	-33M
Other Financing	15.5M	-800K	-5M	-540M	0	0	-16M	-16M	-12M	0
Net Change in Cash+	133.1M	50.3M	-107M	49M	-154M	520M	-408M	-129M	-112M	127M
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K
Cash at Beginning	369.7M	518.4M	569M	462M	511M	357M	877M	469M	340M	228M
Cash at End	502.8M	568.7M	462M	511M	357M	877M	469M	340M	228M	355M
Free Cash Flow+	405.9M	325.5M	511M	-977M	447M	368M	-88M	133M	386M	390M
FCF Growth %	1.16%	-0.2%	0.57%	-2.91%	1.46%	-0.18%	-1.24%	2.51%	1.9%	0.01%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.18%	11.9%	18.34%	6.46%	13.36%	30.35%	18.49%	-28.7%	6.15%	14.84%
EBITDA Margin	24.9%	20.06%	18.5%	19.01%	24.2%	18.9%	9.55%	18.08%	22.75%	22.23%
Net Debt / EBITDA	2.53x	3.24x	2.92x	4.43x	3.81x	4.22x	6.83x	4.35x	4.23x	4.45x
Interest Coverage	4.53x	3.70x	4.27x	3.72x	3.56x	2.93x	1.39x	2.85x	2.76x	2.58x
CapEx / Revenue	9.91%	10.43%	7.5%	28.1%	10%	14.91%	7.95%	10.92%	11.04%	11.48%
Dividend Payout Ratio	114.61%	98.6%	61.2%	180.86%	51.32%	19.22%	27.59%	-	118.22%	47.49%
Debt / Equity	1.14x	1.21x	1.12x	1.72x	1.54x	1.23x	1.15x	1.65x	1.64x	1.58x
EPS Growth	30%	18.27%	65.04%	-65.27%	79.43%	173.52%	-28.18%	-244.06%	117.46%	147.2%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Non-utility	-	-	-	-	-	-	-	-	-	5.49B
Non-utility Growth	-	-	-	-	-	-	-	-	-	-
Utility	768.5M	-	-	-	-	-	-	-	-	1.66B
Utility Growth	-	-	-	-	-	-	-	-	-	-
Utility, Other	-	-	-	14.9M	14M	21M	23M	43M	36M	-1M
Utility, Other Growth	-	-	-	-	-6.04%	50.00%	9.52%	86.96%	-16.28%	-102.78%
Off System Sales and Capacity Releases	-	-	-	46.4M	48M	51M	76M	89M	67M	-79M
Off System Sales and Capacity Releases Growth	-	-	-	-	3.45%	6.25%	49.02%	17.11%	-24.72%	-217.91%
Peaking	-	-	-	17.6M	6M	16M	48M	31M	10M	-111M
Peaking Growth	-	-	-	-	-65.91%	166.67%	200.00%	-35.42%	-67.74%	-1210.00%
Energy Marketing	-	-	-	1.52B	1.23B	1.56B	2.95B	2.14B	980M	-159M
Energy Marketing Growth	-	-	-	-	-18.92%	26.85%	88.68%	-27.52%	-54.18%	-116.22%
Retail	-	-	-	4.01B	3.5B	3.96B	4.44B	3.95B	3.73B	-
Retail Growth	-	-	-	-	-12.70%	13.09%	12.11%	-10.91%	-5.54%	-
Residential	-	-	-	552.7M	563M	568M	875M	1.02B	873M	-
Residential Growth	-	-	-	-	1.86%	0.89%	54.05%	16.57%	-14.41%	-
Commercial and Industrial	-	-	-	226.3M	215M	218M	365M	413M	344M	-
Commercial and Industrial Growth	-	-	-	-	-4.99%	1.40%	67.43%	13.15%	-16.71%	-
Wholesale	-	-	-	233.3M	211M	328M	496M	325M	270M	-
Wholesale Growth	-	-	-	-	-9.56%	55.45%	51.22%	-34.48%	-16.92%	-
Non-utility, Other	-	-	-	313.3M	312M	275M	286M	274M	260M	-
Non-utility, Other Growth	-	-	-	-	-0.41%	-11.86%	4.00%	-4.20%	-5.11%	-
Pipeline	-	-	-	94.5M	168M	181M	211M	251M	246M	-
Pipeline Growth	-	-	-	-	77.78%	7.74%	16.57%	18.96%	-1.99%	-
Large Delivery Service	-	-	-	138M	142M	148M	171M	177M	183M	-
Large Delivery Service Growth	-	-	-	-	2.90%	4.23%	15.54%	3.51%	3.39%	-
Electricity, Generation	-	-	-	43.2M	34M	13M	34M	33M	27M	-
Electricity, Generation Growth	-	-	-	-	-21.30%	-61.76%	161.54%	-2.94%	-18.18%	-
Midstream Other	-	-	-	1.9M	7M	8M	9M	14M	16M	-
Midstream Other Growth	-	-	-	-	268.42%	14.29%	12.50%	55.56%	14.29%	-
Amerigas Propane	-	2.45B	2.82B	-	-	-	-	-	-	-
Amerigas Propane Growth	-	-	15.06%	-	-	-	-	-	-	-
UGI International	-	1.88B	2.68B	-	-	-	-	-	-	-
UGI International Growth	-	-	42.95%	-	-	-	-	-	-	-
Midstream and Marketing	-	943M	1.15B	-	-	-	-	-	-	-
Midstream and Marketing Growth	-	-	21.86%	-	-	-	-	-	-	-
UGI Utilities	-	847.5M	998.5M	-	-	-	-	-	-	-
UGI Utilities Growth	-	-	17.82%	-	-	-	-	-	-	-
NON-utility	4.92B	-	-	-	-	-	-	-	-	-
NON-utility Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

UGI Corporation (UGI) has a price-to-earnings (P/E) ratio of 12.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

UGI Corporation (UGI) reported $7.33B in revenue for fiscal year 2025. This represents a 12% increase from $6.52B in 2012.

UGI Corporation (UGI) grew revenue by 1.1% over the past year. Growth has been modest.

Yes, UGI Corporation (UGI) is profitable, generating $418.0M in net income for fiscal year 2025 (9.3% net margin).

Dividend & Returns

Yes, UGI Corporation (UGI) pays a dividend with a yield of 3.92%. This makes it attractive for income-focused investors.

UGI Corporation (UGI) has a return on equity (ROE) of 14.8%. This is reasonable for most industries.

UGI Corporation (UGI) generated $443.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

UGI Corporation (UGI) has a dividend payout ratio of 47%. This suggests the dividend is well-covered and sustainable.

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