Bedrijfsoverzicht
Ultrapar Participações S.A. operates primarily within the energy, mobility, and logistics infrastructure sectors, serving a global footprint that includes Brazil, Europe, the United States, Canada, Latin America, and Oceania through its subsidiaries such as Ultragaz, Ipiranga, and Ultracargo. The company is classified within the Energy sector and specifically functions in the Oil & Gas Refining & Marketing industry, a position that signifies its involvement in the extraction, processing, and distribution of fuel and energy products essential for transportation and industrial operations. As of the latest available data, Ultrapar holds a market capitalization of $6.43 billion and generates annual revenue totaling $142.37 billion, though the specific employee count is not disclosed in the provided records. These valuation and revenue figures indicate that the company commands a significant market position, reflecting a large-scale operational capability that supports its extensive network of gas stations, wholesale distribution, and logistics services across international markets.
Financiële gezondheid
Ultrapar Participações S.A. reported total revenue of $142.37 billion over the trailing twelve months, with net income of $2.66 billion and EBITDA reaching $6.38 billion. The substantial disparity between the $142.37 billion in revenue and the $2.66 billion in net income highlights a cost structure characterized by high operating expenses, which is typical for capital-intensive refining and marketing industries where margins are compressed by upstream costs and regulatory requirements. The company generated $1.85 billion in free cash flow, a metric that underscores its financial flexibility to fund capital expenditures, service debt, or return capital to shareholders without relying on external financing. Margin analysis reveals a gross margin of 6.6%, an operating margin of 3.1%, and a profit margin of 1.7%, indicating that while the company effectively manages its core operations, it operates with relatively thin profitability buffers that require strict cost discipline. Regarding liquidity and leverage, the firm holds $7.03 billion in cash against total debt of $21.83 billion, resulting in a debt-to-equity ratio of 123.14, which suggests a leveraged balance sheet reliant on its cash flow generation to meet obligations. Despite the leverage, the current ratio stands at 1.62, indicating that the company maintains adequate short-term liquidity to cover its current liabilities with current assets. Furthermore, the return on equity is 16.4% while the return on assets is 7.0%, metrics that reveal management's effectiveness in utilizing shareholder equity and total assets to generate profits, despite the challenging margin environment.
Waarderingsbeoordeling
The stock carries a trailing P/E ratio of 13.09 and a forward P/E of 12.24, suggesting that the market expects earnings to improve in the coming period as the forward multiple is lower than the trailing multiple. The price-to-book ratio is recorded at 2.13, which indicates that the market values the company at a premium above its net asset book value, likely reflecting the intangible value of its distribution networks and brand equity in the fuel sector. Alternative valuation metrics show a price-to-sales ratio of 0.05 and an EV/EBITDA of 3.65, figures that suggest the market is pricing the company based on a small fraction of its sales volume relative to its valuation, while the EV/EBITDA implies a relatively low multiple compared to historical averages for peers. Regarding price volatility, the 52-week high is $6.05 and the 52-week low is $2.80, meaning the current trading price sits significantly below the recent peak, specifically trading at a level that reflects the recent earnings contraction. The beta value is 0.42, indicating that the stock's price volatility is substantially lower than the broader market, suggesting that Ultrapar acts as a defensive holding with less sensitivity to general market swings.
Growth & Income
Revenue growth for the year-over-year period stands at 7.2%, whereas earnings growth is negative at -59.5%, implying that earnings are shrinking much faster than revenue, a divergence often caused by rising input costs or one-time charges impacting the bottom line. As a dividend payer, the company offers a dividend yield of 5.2% with a payout ratio of 74.5%, a level that may be sustainable only temporarily given the sharp decline in earnings, as maintaining such a high payout requires significant earnings per share to support the fixed dividend amount. Given the current earnings contraction, the sustainability of the dividend is under scrutiny, as the payout ratio is elevated relative to the depressed earnings figure, potentially signaling a need for future adjustment if profitability does not recover. Overall, the company presents a mixed profile of moderate revenue expansion offset by significant earnings pressure, coupled with a high but potentially fragile dividend yield that investors must weigh against the deteriorating earnings trajectory.