Last 47 quarters of trend data · Energy · Refining & Fuel Marketing
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 9.34 | 0.87 | 1.87 | 3.14 | 1.60 | 0.84 | 2.57 | 0.87 | 1.67 | 2.51 | 3.67 | 1.37 | 1.18 | 5.17 | 2.84 | 0.81 | 3.42 | 1.43 | 6.89 | 2.20 | 1.99 |
| — | +3.4% | -27.1% | +263.1% | -4.2% | -66.6% | -30.0% | -36.8% | +42.2% | -51.5% | +28.9% | +69.7% | -65.6% | +260.9% | -58.7% | -63.3% | +72.4% | — | -13.5% | -24.2% | -44.3% | |
| P/S Ratio | 0.21 | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 | 0.05 | 0.04 | 0.03 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.13 | 0.03 |
| — | +21.1% | +73.5% | +31.2% | -0.2% | -21.0% | -50.9% | -53.8% | -1.5% | -7.7% | +111.9% | +140.7% | +104.0% | +109.8% | -6.4% | -85.3% | -39.2% | -55.2% | -44.4% | +136.3% | -74.2% | |
| P/B Ratio | 1.84 | 0.27 | 1.76 | 0.23 | 0.24 | 0.20 | 0.22 | 0.18 | 0.28 | 0.29 | 0.44 | 2.06 | 1.53 | 1.66 | 1.24 | 0.22 | 0.21 | 1.19 | 1.44 | 0.27 | 1.58 |
| — | +38.9% | +718.4% | +25.6% | -14.1% | -32.9% | -51.3% | -91.1% | -81.5% | -82.3% | -64.2% | +855.5% | +624.7% | +39.1% | -14.0% | -21.0% | -86.7% | +191.6% | -39.3% | -45.3% | -65.8% | |
| P/FCF | 6.60 | 0.41 | 9.58 | 0.96 | 4.73 | 2.07 | — | 0.47 | 2.98 | 7.26 | — | 1.22 | 0.64 | 22.99 | — | 0.58 | 0.65 | — | — | 1.52 | 2.58 |
| — | -80.2% | — | +104.0% | +58.9% | -71.5% | — | -61.4% | +369.0% | -68.4% | — | +111.5% | -2.6% | — | — | -62.0% | -74.7% | — | — | -93.1% | -28.4% | |
| EV / EBITDA | 5.37 | 1.38 | 1.11 | 3.63 | 2.73 | 2.73 | 3.31 | 1.67 | 2.87 | 3.30 | 3.87 | 0.86 | 0.76 | 1.73 | 1.20 | 1.40 | 3.07 | 1.00 | 1.97 | 32.20 | 1.95 |
| — | -49.4% | -66.5% | +117.1% | -5.0% | -17.5% | -14.6% | +94.0% | +277.0% | +90.5% | +221.6% | -38.5% | -75.2% | +73.4% | -39.0% | -95.7% | +57.1% | -88.7% | -21.0% | +408.5% | -35.3% | |
| EV / EBIT | 10.40 | 1.57 | 1.14 | 4.41 | 2.84 | 2.23 | 4.33 | 4.15 | 2.96 | 3.35 | 4.44 | 0.90 | 0.75 | 3.26 | 1.95 | 1.60 | 3.96 | 1.47 | 3.07 | 33.29 | 3.11 |
| — | -29.8% | -73.8% | +6.3% | -4.3% | -33.3% | -2.4% | +362.0% | +295.0% | +2.7% | +127.6% | -43.8% | -81.1% | +122.6% | -36.4% | -95.2% | +27.4% | -94.8% | -14.5% | +427.1% | -25.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 6.6% | 11.1% | 8.6% | 6.8% | 6.7% | 6.3% | 6.4% | 6.1% | 6.5% | 6.5% | 6.8% | 9.2% | 8.8% | 5.7% | 5.6% | 6.8% | 4.0% | 5.0% | 4.7% | 4.8% | 4.0% |
| — | +76.4% | +34.4% | +11.7% | +3.6% | -3.2% | -5.2% | -33.4% | -26.8% | +15.3% | +21.0% | +34.7% | +118.5% | +12.5% | +20.2% | +42.1% | +0.6% | +39.0% | -17.2% | -26.4% | -49.1% | |
| Operating Margin | 3.4% | 7.7% | 5.0% | 3.0% | 3.9% | 4.1% | 2.9% | 6.0% | 3.1% | 2.7% | 2.7% | 5.5% | 4.8% | 1.7% | 2.2% | 4.4% | 1.7% | 2.2% | 1.8% | 1.5% | 1.9% |
| — | +85.0% | +68.2% | -50.0% | +26.3% | +55.3% | +9.2% | +8.0% | -36.7% | +53.8% | +23.6% | +24.2% | +179.1% | -21.6% | +24.8% | +196.3% | -11.2% | +95.4% | -23.3% | -33.3% | -33.0% | |
| Net Margin | 1.7% | 3.7% | 2.4% | 0.9% | 1.9% | 3.2% | 1.0% | 2.4% | 1.8% | 1.4% | 1.4% | 3.3% | 2.7% | 0.7% | 0.9% | 2.3% | 0.5% | 1.2% | 1.4% | 1.2% | 1.3% |
| — | +16.7% | +138.6% | -64.2% | +3.9% | +136.1% | -29.6% | -27.7% | -30.8% | +87.3% | +65.5% | +43.7% | +480.2% | -41.1% | -40.2% | +92.0% | -63.4% | +1140.7% | +139.3% | -35.1% | -1.9% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.6% | 13.4% | 8.2% | 1.8% | 3.8% | 6.3% | 2.1% | 5.4% | 4.3% | 3.0% | 5.0% | 39.7% | 32.9% | 8.5% | 3.5% | 6.9% | 2.7% | 20.3% | 7.0% | 1.1% | 6.2% |
| — | +110.5% | +289.2% | -67.1% | -11.3% | +111.9% | -58.0% | -86.4% | -86.9% | -64.6% | +40.9% | +472.3% | +1134.0% | -58.2% | -49.6% | +532.9% | -57.0% | +3950.1% | +211.1% | -85.0% | +31.3% | |
| ROA | 5.5% | 5.0% | 2.9% | 0.7% | 1.6% | 2.6% | 0.9% | 2.1% | 1.7% | 1.2% | 1.9% | 14.3% | 12.0% | 3.1% | 1.2% | 2.3% | 0.9% | 6.1% | 1.9% | 0.3% | 1.7% |
| — | +92.9% | +236.1% | -68.4% | -7.3% | +123.5% | -55.5% | -85.1% | -86.0% | -62.2% | +61.5% | +520.2% | +1262.0% | -49.1% | -37.8% | +681.7% | -48.9% | +4273.1% | +218.1% | -84.9% | +31.8% | |
| ROIC | 11.1% | 11.6% | 6.3% | 2.4% | 3.1% | 3.3% | 2.5% | 5.7% | 3.1% | 2.5% | 4.2% | 32.1% | 27.1% | 8.9% | 4.1% | 5.9% | 4.1% | 12.9% | 2.6% | 0.4% | 2.9% |
| — | +250.5% | +149.5% | -57.8% | +1.5% | +31.0% | -39.8% | -82.4% | -88.7% | -71.6% | +1.4% | +443.7% | +553.6% | -31.2% | +57.1% | +1315.3% | +43.7% | +759.1% | +8.3% | -83.3% | -3.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.23 | 0.98 | 1.14 | 1.23 | 0.99 | 1.03 | 0.95 | 0.97 | 1.00 | 1.02 | 1.00 | 0.95 | 1.05 | 1.13 | 1.08 | 1.09 | 1.21 | 1.29 | 1.56 | 1.69 | 1.79 |
| — | -5.1% | +20.6% | +27.0% | -0.9% | +1.0% | -5.7% | +2.4% | -4.8% | -9.7% | -7.2% | -13.1% | -13.3% | -12.3% | -30.6% | -35.6% | -32.3% | -27.8% | -23.8% | -12.6% | -14.6% | |
| Debt / EBITDA | 3.39 | 5.29 | 1.88 | 13.93 | 9.83 | 10.50 | 11.69 | 6.34 | 11.12 | 12.76 | 13.12 | 1.26 | 1.50 | 3.31 | 2.65 | 7.23 | 14.65 | 2.49 | 4.41 | 124.73 | 4.52 |
| — | -49.6% | -84.0% | +119.7% | -11.6% | -17.7% | -10.9% | +402.1% | +639.5% | +285.0% | +394.8% | -82.5% | -89.7% | +32.8% | -39.9% | -94.2% | +224.3% | -92.4% | -13.4% | +451.0% | +14.6% | |
| Current Ratio | 1.62 | 1.64 | 1.67 | 1.62 | 1.83 | 1.82 | 1.76 | 1.53 | 1.57 | 1.55 | 1.68 | 1.72 | 1.81 | 1.97 | 1.87 | 1.48 | 1.53 | 1.57 | 1.71 | 1.98 | 1.77 |
| — | -9.5% | -5.1% | +5.8% | +16.5% | +17.1% | +4.7% | -11.2% | -13.4% | -21.1% | -10.4% | +16.3% | +18.5% | +25.4% | +9.5% | -25.2% | -13.7% | -10.9% | -14.4% | +4.6% | -11.3% | |
| Quick Ratio | 1.26 | 1.26 | 1.30 | 1.26 | 1.40 | 1.38 | 1.26 | 1.16 | 1.11 | 1.16 | 1.23 | 1.34 | 1.42 | 1.53 | 1.41 | 1.10 | 1.14 | 1.10 | 1.40 | 1.67 | 1.23 |
| — | -8.7% | +3.5% | +9.0% | +26.1% | +19.3% | +1.9% | -13.8% | -21.9% | -24.2% | -12.7% | +22.2% | +24.2% | +38.4% | +1.3% | -34.3% | -7.3% | -13.2% | -7.6% | +13.1% | -23.2% | |
| Interest Coverage | 2.58 | 5.03 | 2.78 | 2.00 | 2.33 | 3.26 | 2.65 | 2.86 | 4.06 | 2.41 | 16.10 | 23.29 | 3.14 | 1.17 | 8.69 | 19.32 | 1.45 | 1.07 | 8.54 | 2.12 | 1.26 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying UGP stock.
Ultrapar Participações S.A.'s current P/E is 9.3x. The average P/E over the last 4 quarters is 1.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ultrapar Participações S.A.'s current operating margin is 3.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ultrapar Participações S.A.'s business trajectory between earnings reports.