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B3 · BRL

UGPA3

Ultrapar Participacoes S.A.

R$38.61+1.37% (R$0.52)
Day's range
R$37.27 – R$38.80
Day's volume
R$607.8m
52-week range
R$19.93 – R$40.22

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See how UGPA3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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UGPA3 in numbers

Market cap
R$43.1bn
P/E
12.46
P/B
2.40
Dividend yield (12m)
5.18%
Net debt/EBITDA
2.00

The 12-month dividend yield of UGPA3 is 5.18%, above its 5-year average of 4.56%.

UGPA3 price history

03/10/202502/10/2026
Compare with

UGPA3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+89.45%+76.95%+229.95%
Volatility (annualised)36.63%31.70%31.70%
Largest drawdown-13.59%-44.57%-44.57%
Positive months10/1223/3639/60

How much did investing in UGPA3 return?

R$1,000.00 invested on 01/11/2021 would be worth R$3,299.52 today.

Value today in UGPA3
R$3,299.52
Return over the period
+229.95%
Return per year
+27.48%
In the Ibovespa
R$1,885.05

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

UGPA3 fundamentals

Valuation

  • P/E
    12.46
  • P/B
    2.40
  • EV/EBITDA
    6.68
  • EV/EBIT
    8.26
  • EV/Revenue
    0.40
  • P/EBIT
    5.80
  • P/S
    0.28
  • P/OCF
    4.14
  • P/FCF
    8.18
  • Earnings yield
    12.10%
  • PEG ratio
    0.67
  • Earnings per share
    R$3.10
  • Book value per share
    R$16.09

Debt

  • Net debt
    R$18.3bn
  • Net debt/EBITDA
    2.00
  • Net debt/Equity
    0.92
  • Debt/Equity
    1.38
  • Current ratio
    1.64
  • Quick ratio
    1.26
  • Cash ratio
    0.65

Efficiency

  • Gross margin
    8.39%
  • EBITDA margin
    6.00%
  • Operating margin
    4.85%
  • Net margin
    2.36%
  • Asset turnover
    2.96

Profitability

  • ROE
    19.25%
  • ROA
    6.99%
  • ROIC
    13.26%
  • Payout
    64.55%

Growth

  • Revenue CAGR (5 years)
    9.70%
  • Earnings CAGR (5 years)
    34.26%
  • Revenue growth (year)
    6.64%
  • Earnings growth (year)
    3.86%
  • Revenue growth (quarter)
    10.94%
  • Earnings growth (quarter)
    18.61%

What is UGPA3's fair price?

Two classic value formulas, with today's numbers. The current price is R$38.61.

Graham's fair price
R$33.49
13.25% below the price

√(22.50 × R$3.10 × R$16.09)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
R$13.24
65.70% below the price

R$0.79 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

UGPA3 indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E9.507.5012.127.8119.1613.6535.0423.71
P/B1.311.122.111.161.561.231.332.78
EV/EBITDA7.175.467.296.2313.809.9712.5315.70
Dividend yield8.37%4.09%1.32%4.62%4.38%2.19%7.67%11.91%
Earnings per shareR$2.20R$2.12R$2.19R$1.61R$0.76R$0.80R$0.34R$1.03
Book value per shareR$15.89R$14.18R$12.58R$10.92R$9.39R$8.89R$8.82R$8.81
ROE13.84%14.93%17.39%14.79%8.12%9.01%3.80%11.74%
ROIC8.65%9.81%12.29%10.81%4.61%3.91%2.44%4.84%
Gross margin6.57%7.26%7.39%5.12%4.47%6.91%6.84%6.79%
EBITDA margin4.61%4.61%4.54%3.04%2.45%3.74%2.72%2.97%
Net margin1.72%1.77%1.94%1.25%0.78%1.10%0.42%1.27%
Net debt/EBITDA3.622.582.133.017.735.957.155.59

UGPA3 financial statements

Line202520242023202220212020
Net revenueR$142.4bnR$133.5bnR$126bnR$143.6bnR$109.7bnR$81.2bn
Cost of sales-R$133bn-R$123.8bn-R$116.7bn-R$136.3bn-R$104.8bn-R$75.6bn
Gross profitR$9.4bnR$9.7bnR$9.3bnR$7.4bnR$4.9bnR$5.6bn
EBITDAR$6.6bnR$6.2bnR$5.7bnR$4.4bnR$2.7bnR$3bn
EBITR$5bnR$4.9bnR$4.6bnR$3.3bnR$1.8bnR$1.8bn
Net finance result-R$1.2bn-R$931.9m-R$999.1m-R$1.5bn-R$762.7m-R$269.4m
Profit before taxR$3.8bnR$4bnR$3.6bnR$1.9bnR$1bnR$1.5bn
Income tax-R$1.1bn-R$1.5bn-R$1.1bn-R$341.5m-R$188m-R$571.4m
Net incomeR$2.5bnR$2.4bnR$2.4bnR$1.8bnR$850.5mR$893.4m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

UGPA3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

StockP/EP/BDividend yield (12m)ROEMarket cap
UGPA3Ultrapar Participacoes12.462.405.18%19.25%R$43.1bn
VBBR3VIBRA ENERGIA S.A.9.041.945.18%21.49%R$45.7bn
RADL3RAIA DROGASIL S.A.25.464.692.28%18.41%R$34.2bn
ASAI3SENDAS DISTRIBUIDORA S.A.15.652.380.94%15.21%R$15.1bn
GMAT3GRUPO MATEUS S.A.7.011.021.00%14.52%R$11.4bn
LREN3LOJAS RENNER S.A.7.931.147.83%14.41%R$11.8bn

Does UGPA3 pay dividends?

Dividend yield per year

  • 9.96%2017
  • 11.91%2018
  • 7.67%2019
  • 2.19%2020
  • 4.38%2021
  • 4.62%2022
  • 1.32%2023
  • 4.09%2024
  • 8.37%2025
  • 2.59%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend24/08/202603/09/2026R$1.00
Dividend05/12/202516/12/2025R$1.00
Dividend21/08/202529/08/2025R$0.30
Dividend06/03/202514/03/2025R$0.45
Dividend15/08/202423/08/2024R$0.25
Dividend07/03/202415/03/2024R$0.40
Dividend17/08/202325/08/2023R$0.25
Dividend23/02/202303/03/2023R$0.10
Interest on equity23/05/202210/08/2022R$0.41
Dividend03/03/202211/03/2022R$0.17
Dividend19/08/202127/08/2021R$0.20
Dividend04/03/202112/03/2021R$0.44
See all 56 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend27/02/202006/03/2020R$0.24
Dividend22/08/201930/08/2019R$0.20
Dividend28/02/201913/03/2019R$0.70
Dividend09/08/201820/08/2018R$0.56
Dividend01/03/201812/03/2018R$0.90
Dividend16/08/201725/08/2017R$0.85
Dividend01/03/201710/03/2017R$0.87
Dividend17/08/201626/08/2016R$0.80
Dividend24/02/201604/03/2016R$0.80
Dividend12/08/201521/08/2015R$0.80
Dividend04/03/201512/03/2015R$0.71
Dividend13/08/201422/08/2014R$0.71
Dividend26/02/201412/03/2014R$0.71
Dividend07/08/201316/08/2013R$0.66
Dividend27/02/201308/03/2013R$0.66
Dividend08/08/201217/08/2012R$0.51
Dividend22/02/201202/03/2012R$0.51
Dividend17/08/201130/08/2011R$0.47
Dividend02/03/201117/03/2011R$0.47
Dividend18/08/201027/08/2010R$1.32
Dividend03/03/201012/03/2010R$1.19
Dividend19/08/200928/08/2009R$0.89
Dividend18/03/200902/04/2009R$0.89
Dividend13/08/200822/08/2008R$0.89
Dividend27/02/200807/03/2008R$1.78
Dividend21/02/200702/03/2007R$0.89
Dividend09/08/200617/08/2006R$0.89
Dividend22/02/200607/03/2006R$1.23
Dividend10/08/200522/08/2005R$0.70
Dividend23/02/200504/03/2005R$0.90
Dividend16/08/200430/08/2004R$1.33
Dividend20/02/200403/03/2004R$0.55
Dividend18/08/200329/08/2003R$0.46
Dividend24/02/200306/03/2003R$0.63
Dividend19/08/200203/09/2002R$0.37
Dividend08/03/200220/03/2002R$0.40
Interest on equity05/09/200128/09/2001R$0.57
Interest on equity28/12/200005/03/2001R$0.27
Dividend18/08/200028/09/2000R$0.30
Dividend09/03/200030/03/2000R$0.24
Dividend05/09/2001—R$0.62
Dividend05/09/2001—R$2.29
Dividend27/04/2001—R$0.19
Dividend27/04/2001—R$0.14
Splits, share consolidations and bonus shares
EventLast day to ownRatio
Split17/04/20192 for 1
Split17/02/20114 for 1
Share consolidation22/08/20051 for 1000
Bonus shares10/02/200515.00% in shares

About Ultrapar Participacoes

Sector
Energia
Segment
Exploração, Refino e Distribuição
Listing segment
Novo Mercado
Tag along
100.00%
Free float
95.71%
Shares issued
1.12bn ordinary
Average daily trading
R$368.1m
Ibovespa weight
1.53%
Listed since
13/10/1999
CNPJ
33.256.439/0001-39

A Ultrapar Participações S.A., listada na B3 sob o ticker UGPA3, é uma holding brasileira com operações em distribuição de combustíveis, GLP, armazenagem de granéis líquidos e serviços de mobilidade. A companhia foi fundada em 1937 e construiu histórico de expansão por crescimento orgânico e aquisições. No portfólio, destacam-se os negócios de distribuição de combustíveis da Ipiranga, distribuição de GLP da Ultragaz e logística da Ultracargo, além de iniciativas em conveniência e energia. A atuação concentra-se na infraestrutura de suprimento e distribuição para varejo, clientes empresariais e cadeias industriais. A estratégia operacional combina escala, eficiência logística, capilaridade de rede e gestão de portfólio de ativos para sustentar geração de caixa recorrente. O grupo também vem ajustando sua composição de negócios para priorizar segmentos com maior retorno e sinergia operacional. No contexto competitivo brasileiro, a Ultrapar permanece entre os principais grupos privados de distribuição e infraestrutura energética, com presença nacional e papel relevante no abastecimento de combustíveis e GLP.

Investor website
ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
ShareholderOrdinaryPreferredTotal
Ultra S.A. Participações25.06%0.00%25.06%
Parth Do Brasil Participações Ltda7.68%0.00%7.68%
BlackRock Inc.5.00%0.00%5.00%
Outros58.05%0.00%58.05%
Ações Tesouraria4.22%0.00%4.22%

Questions about UGPA3

How much is UGPA3 today?

UGPA3 is at R$38.61 (1.37% on the day), last traded on 03/10/2026.

How much did UGPA3 pay in dividends in 2025?

UGPA3 paid R$1.75 per share in 2025, a dividend yield of 8.37%.

What are the P/E and P/B of UGPA3?

UGPA3 trades at a P/E of 12.46 and a P/B of 2.40.

How much did UGPA3 return in 12 months?

UGPA3 returned 89.45% in 12 months, with annualised volatility of 36.63% and a largest drawdown of -13.59%.

What sector is UGPA3 in?

Ultrapar Participacoes is in the Energia sector, Exploração, Refino e Distribuição segment.