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Ultrapar Participações

DB:UGR
Snowflake Description

Mediocre balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UGR
DB
R$14B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Ultrapar Participações S.A. engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The last earnings update was 48 days ago. More info.


Add to Portfolio Compare Print
  • Ultrapar Participações has significant price volatility in the past 3 months.
UGR Share Price and Events
7 Day Returns
10.6%
DB:UGR
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-55.3%
DB:UGR
34.4%
DE Oil and Gas
-14.2%
DE Market
UGR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ultrapar Participações (UGR) 10.6% -20.1% -58.2% -55.3% -78% -77.4%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • UGR underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • UGR underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
UGR
Industry
5yr Volatility vs Market

UGR Value

 Is Ultrapar Participações undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ultrapar Participações to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ultrapar Participações.

DB:UGR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:UGR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 9.3%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 34%) (114.15%))
1.472
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.472 * 9.25%)
13.23%

Discounted Cash Flow Calculation for DB:UGR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ultrapar Participações is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:UGR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (BRL, Millions) Source Present Value
Discounted (@ 13.23%)
2020 1,306.00 Analyst x1 1,153.45
2021 978.00 Analyst x2 762.87
2022 1,369.00 Analyst x1 943.12
2023 1,311.91 Est @ -4.17% 798.22
2024 1,272.07 Est @ -3.04% 683.57
2025 1,243.55 Est @ -2.24% 590.19
2026 1,222.57 Est @ -1.69% 512.46
2027 1,206.71 Est @ -1.3% 446.73
2028 1,194.33 Est @ -1.03% 390.50
2029 1,184.36 Est @ -0.83% 342.01
Present value of next 10 years cash flows R$6,623.00
DB:UGR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= R$1,184.36 × (1 + -0.39%) ÷ (13.23% – -0.39%)
R$8,664.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= R$8,664.56 ÷ (1 + 13.23%)10
R$2,502.04
DB:UGR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= R$6,623.00 + R$2,502.04
R$9,125.04
Equity Value per Share
(BRL)
= Total value / Shares Outstanding
= R$9,125.04 / 1,088.14
R$8.39
DB:UGR Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:UGR represents 0.17871x of BOVESPA:UGPA3
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.17871x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (BRL) x Listing Adjustment Factor
= R$ 8.39 x 0.17871
€1.50
Value per share (EUR) From above. €1.50
Current discount Discount to share price of €2.30
= -1 x (€2.30 - €1.50) / €1.50
-53.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ultrapar Participações is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ultrapar Participações's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ultrapar Participações's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:UGR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in BRL R$0.34
BOVESPA:UGPA3 Share Price ** BOVESPA (2020-04-08) in BRL R$12.87
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ultrapar Participações.

DB:UGR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BOVESPA:UGPA3 Share Price ÷ EPS (both in BRL)

= 12.87 ÷ 0.34

37.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ultrapar Participações is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Ultrapar Participações is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Ultrapar Participações's expected growth come at a high price?
Raw Data
DB:UGR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 37.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
41.3%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:UGR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 37.44x ÷ 41.3%

0.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ultrapar Participações is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Ultrapar Participações's assets?
Raw Data
DB:UGR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in BRL R$8.71
BOVESPA:UGPA3 Share Price * BOVESPA (2020-04-08) in BRL R$12.87
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:UGR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BOVESPA:UGPA3 Share Price ÷ Book Value per Share (both in BRL)

= 12.87 ÷ 8.71

1.48x

* Primary Listing of Ultrapar Participações.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ultrapar Participações is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Ultrapar Participações's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Ultrapar Participações has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

UGR Future Performance

 How is Ultrapar Participações expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ultrapar Participações expected to grow at an attractive rate?
  • Ultrapar Participações's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Ultrapar Participações's earnings growth is expected to exceed the Germany market average.
  • Ultrapar Participações's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:UGR Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:UGR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 41.3%
DB:UGR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3.6%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:UGR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in BRL Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:UGR Future Estimates Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 114,788 1
2022-12-31 97,583 2,783 1,751 6
2021-12-31 91,931 2,662 1,317 13
2020-12-31 81,584 2,574 987 9
2020-04-08
DB:UGR Past Financials Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income *
2019-12-31 89,298 2,925 374
2019-09-30 89,102 3,896 1,148
2019-06-30 89,733 3,787 1,177
2019-03-31 90,686 3,464 1,310
2018-12-31 90,698 2,889 1,150
2018-09-30 88,579 1,814 1,037
2018-06-30 85,086 1,399 1,254
2018-03-31 81,437 1,372 1,248
2017-12-31 79,230 1,739 1,527
2017-09-30 76,968 2,458 1,568
2017-06-30 76,071 2,791 1,400
2017-03-31 76,373 2,945 1,529

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ultrapar Participações's earnings are expected to grow significantly at over 20% yearly.
  • Ultrapar Participações's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:UGR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Ultrapar Participações Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UGR Future Estimates Data
Date (Data in BRL Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 2.12 4.09 1.27 4.00
2021-12-31 1.21 1.40 0.89 8.00
2020-12-31 0.76 1.00 0.40 5.00
2020-04-08
DB:UGR Past Financials Data
Date (Data in BRL Millions) EPS *
2019-12-31 0.34
2019-09-30 1.06
2019-06-30 1.09
2019-03-31 1.22
2018-12-31 1.06
2018-09-30 0.96
2018-06-30 1.16
2018-03-31 1.15
2017-12-31 1.41
2017-09-30 1.45
2017-06-30 1.29
2017-03-31 1.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ultrapar Participações is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ultrapar Participações's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ultrapar Participações has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

UGR Past Performance

  How has Ultrapar Participações performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ultrapar Participações's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ultrapar Participações's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Ultrapar Participações's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ultrapar Participações's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Ultrapar Participações's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ultrapar Participações Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UGR Past Revenue, Cash Flow and Net Income Data
Date (Data in BRL Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 89,297.98 373.53 4,366.64
2019-09-30 89,102.23 1,147.71 4,335.70
2019-06-30 89,733.17 1,177.24 4,367.19
2019-03-31 90,686.11 1,310.23 4,315.04
2018-12-31 90,697.98 1,150.42 4,296.71
2018-09-30 88,578.54 1,036.53 4,239.85
2018-06-30 85,085.95 1,253.85 4,202.83
2018-03-31 81,436.57 1,247.80 4,147.20
2017-12-31 79,230.01 1,526.51 4,062.92
2017-09-30 76,967.67 1,568.15 4,101.99
2017-06-30 76,071.20 1,400.31 4,093.30
2017-03-31 76,373.20 1,528.93 4,094.07
2016-12-31 77,352.96 1,561.59 4,097.36
2016-09-30 78,847.81 1,620.35 4,080.92
2016-06-30 78,563.48 1,539.41 4,010.69
2016-03-31 77,775.96 1,503.81 3,928.73
2015-12-31 75,655.27 1,503.47 3,837.90
2015-09-30 72,897.44 1,378.71 3,641.06
2015-06-30 71,036.52 1,409.01 3,492.09
2015-03-31 69,193.07 1,379.51 3,352.42
2014-12-31 67,736.30 1,241.56 3,288.96
2014-09-30 66,140.53 1,244.98 3,126.04
2014-06-30 64,750.27 1,244.23 3,026.80
2014-03-31 63,287.14 1,227.23 2,919.07
2013-12-31 60,940.25 1,225.14 2,768.69
2013-09-30 59,042.94 1,160.25 2,712.74
2013-06-30 57,244.03 1,123.62 2,623.35

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ultrapar Participações has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ultrapar Participações used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Ultrapar Participações's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ultrapar Participações's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ultrapar Participações has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

UGR Health

 How is Ultrapar Participações's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ultrapar Participações's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ultrapar Participações is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ultrapar Participações's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ultrapar Participações's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ultrapar Participações Company Filings, last reported 3 months ago.

DB:UGR Past Debt and Equity Data
Date (Data in BRL Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 9,835.18 14,396.65 5,205.59
2019-09-30 10,073.17 15,073.18 5,892.96
2019-06-30 10,068.13 14,574.61 6,086.71
2019-03-31 9,929.93 15,116.06 6,237.37
2018-12-31 9,800.03 15,164.15 6,792.06
2018-09-30 9,563.71 15,577.51 6,236.53
2018-06-30 9,567.71 15,001.52 5,970.05
2018-03-31 9,465.46 14,736.59 6,149.64
2017-12-31 9,624.04 13,546.26 6,285.50
2017-09-30 9,155.78 13,077.52 6,259.72
2017-06-30 9,012.33 12,312.91 6,124.38
2017-03-31 8,820.33 10,995.11 4,745.64
2016-12-31 8,558.56 11,372.69 5,686.75
2016-09-30 8,425.75 8,963.46 3,160.29
2016-06-30 8,407.01 8,877.51 3,292.78
2016-03-31 8,105.74 8,788.42 2,672.58
2015-12-31 7,974.13 8,860.09 3,506.20
2015-09-30 7,978.19 9,698.98 3,682.23
2015-06-30 8,105.68 8,425.58 3,258.70
2015-03-31 7,886.84 8,936.13 3,798.59
2014-12-31 7,726.60 8,332.54 4,269.18
2014-09-30 7,502.56 8,148.83 3,696.86
2014-06-30 7,595.69 7,469.74 3,349.97
2014-03-31 7,291.91 7,567.23 3,184.31
2013-12-31 6,546.89 6,929.11 3,425.20
2013-09-30 6,359.25 6,840.19 3,159.96
2013-06-30 6,380.80 6,737.66 3,084.68
  • Ultrapar Participações's level of debt (146.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (107.9% vs 146.4% today).
  • Debt is well covered by operating cash flow (20.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.1x coverage).
X
Financial health checks
We assess Ultrapar Participações's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ultrapar Participações has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

UGR Dividends

 What is Ultrapar Participações's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.42%
Current annual income from Ultrapar Participações dividends. Estimated to be 5.49% next year.
If you bought €2,000 of Ultrapar Participações shares you are expected to receive €68 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ultrapar Participações's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Ultrapar Participações's dividend is below the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:UGR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:UGR Future Dividends Estimate Data
Date (Data in R$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 1.35 3.00
2021-12-31 0.66 10.00
2020-12-31 0.49 7.00
2020-04-08
DB:UGR Past Annualized Dividends Data
Date (Data in R$) Dividend per share (annual) Avg. Yield (%)
2020-02-20 0.440 3.041
2019-02-21 0.630 2.978
2019-02-20 0.630 2.363
2018-02-22 0.875 3.561
2018-02-21 0.875 2.227
2017-02-23 0.870 2.341
2017-02-22 0.870 2.580
2016-11-10 0.800 2.380
2016-11-09 0.800 2.380
2016-08-11 0.800 2.205
2016-08-10 0.800 2.169
2016-02-18 0.800 2.294
2016-02-17 0.800 2.624
2015-11-05 0.800 2.619
2015-11-04 0.800 2.324
2015-08-06 0.800 2.423
2015-08-05 0.800 2.278
2015-04-30 0.710 2.062
2015-03-26 0.710 2.146
2015-02-26 0.710 2.379
2015-02-25 0.710 2.405
2014-11-05 0.710 2.703
2014-08-07 0.710 2.659
2014-08-06 0.710 2.730
2014-04-30 0.710 2.642
2014-02-20 0.710 2.629
2014-02-19 0.710 2.709
2013-11-07 0.660 2.410
2013-11-06 0.660 2.249
2013-08-01 0.660 2.358
2013-07-31 0.660 2.434
2013-04-30 0.660 2.481
2013-02-21 0.660 2.572
2013-02-20 0.660 2.562
2012-11-08 0.510 2.228
2012-11-07 0.510 2.337
2012-08-02 0.510 2.282
2012-08-01 0.510 2.143
2012-02-16 0.510 2.430
2011-11-10 0.470 2.850
2011-11-09 0.470 2.998
2011-08-17 0.470 3.203
2011-08-05 0.470 4.698
2010-03-03 0.260 3.939

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Ultrapar Participações's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Ultrapar Participações's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ultrapar Participações afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ultrapar Participações has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

UGR Management

 What is the CEO of Ultrapar Participações's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Fred Curado
AGE 58
TENURE AS CEO 2.5 years
CEO Bio

Mr. Frederico C. Pinheiro Fleury Curado, also known as Fred, has been the Chief Executive Officer of Ultrapar Participações S.A. since joining it on October 2, 2017 and serves as its Member of the Executive Board. Mr. Curado has been a Member of Executive Board at International Chamber of Commerce since July 1, 2013. Mr. Curado served as the Chief Executive Officer and President of Embraer S.A. since April 23, 2007 until July 2016. He joined Embraer in 1984. He serves as Secretary of several of Embraer's subsidiaries. He served as Executive Vice President of Civil Aircraft at EMBRAER - Brazilian Aviation Company Inc. from 1995 to April 2007. He served as Executive Vice President of Airline Market of Embraer S.A. from September 1998 to April 2007, Executive Vice-President for Planning and Organizational Development from 1995 to August 1998 and its Interim Chief Financial Officer from April 2, 2012 to June 4, 2012. He began his career at Embraer in 1985. Mr. Curado held several different management positions at Embraer in the areas of manufacturing, production, information technology and subcontracts. He serves as Director of Transocean Norway Drilling AS. He has been a Director of Transocean Ltd. since May 17, 2013 and ABB Ltd since April 21, 2016. He was a Member of the Board of Directors of the Smithsonian National Air & Space Museum of Washington since 2014 to 2017, US. He served as President of the Brazil- US.Business Council from 2011 to 2016. He was a member of Brazil’s National Council for Industrial Development from 2011 to 2016. He is member of the Executive Council of the ICC - International Chamber of Commerce since 2013. He was Chairman of the Brazilian Chapter of the Brazil-United States Business Council from 2011 to 2016. He awarded the Medal of Aeronautical Merit by the Brazilian government and the Medal of Merit by the Brazilian Association of Military Engineering. He served as a Director at Iochpe-Maxion S.A. since April 10, 2015 until 2017. Mr. Curado received his Bachelor of Science degree in Mechanical-Aeronautical Engineering from Brazil's Aeronautics Technological Institute (Instituto Tecnologico de Aeronautica - ITA) in 1983. He has a post-graduate degree in Foreign Trade from the Getulio Vargas Foundation (Fundacao Getulio Vargas - FGV) and an International Executive Master’s in Business Administration degree from the University of Sao Paulo (Universidade de Sao Paulo - USP) in 1997.

CEO Compensation
  • Insufficient data for Fred to compare compensation growth.
  • Insufficient data for Fred to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Ultrapar Participações management team in years:

2.2
Average Tenure
52
Average Age
  • The tenure for the Ultrapar Participações management team is about average.
Management Team

Fred Curado

TITLE
CEO & Member of the Executive Board
AGE
58
TENURE
2.5 yrs

André Pires de Oliveira Dias

TITLE
Chief Financial & Investor Relations Officer and Member of Executive Board
AGE
52
TENURE
4.8 yrs

Joao Parolin

TITLE
Member of the Executive Board & CEO of Oxiteno
AGE
61

Rodrigo de Almeida Pizzinatto

TITLE
CEO of Extrafarma & Member of Executive Board
AGE
42
TENURE
1.8 yrs

Marcelo Pereira Araújo

TITLE
Chief Executive Officer of Ipiranga & Member of Executive Board
AGE
58
TENURE
4.7 yrs

Tabajara Costa

TITLE
Member of Executive Board
AGE
48
TENURE
1.8 yrs

Décio de Sampaio Amaral

TITLE
Member of Executive Board & CEO of Ultracargo
AGE
50
TENURE
0.3 yrs

Cynthia Pinho

TITLE
Principal Accounting Officer & Controller of Oxiteno S A Ind£stria E Com?rcio

Roberto Neto

TITLE
Corporate Controller

Marcello De Simone

TITLE
Director of Treasury and Information Technology
Board of Directors Tenure

Average tenure and age of the Ultrapar Participações board of directors in years:

3.5
Average Tenure
69.5
Average Age
  • The tenure for the Ultrapar Participações board of directors is about average.
Board of Directors

Pedro Wongtschowski

TITLE
Chairman of the Board
AGE
73
TENURE
1.9 yrs

Lúcio de Castro Andrade Filho

TITLE
Vice Chairman
AGE
74
TENURE
22.3 yrs

Paulo Guilherme Cunha

TITLE
Chairman Emeritus
AGE
79
TENURE
1.9 yrs

Nildemar Secches

TITLE
Independent Director
AGE
71
TENURE
18 yrs

Alexandre Silva

TITLE
Independent Director
AGE
74
TENURE
5 yrs

Jorge de Toledo Camargo

TITLE
Independent Director
AGE
65
TENURE
5 yrs

José Pereira Coelho

TITLE
Independent Director
AGE
53
TENURE
5 yrs

Ana Vitali Janes Vescovi

TITLE
Independent Director
AGE
50
TENURE
1 yrs

Joaquim Pedro de Carvalho Collor de Mello

TITLE
Independent Director
AGE
41
TENURE
1 yrs

José Galló

TITLE
Independent Director
AGE
68
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Ultrapar Participações's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ultrapar Participações has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

UGR News

Simply Wall St News

UGR Company Info

Description

Ultrapar Participações S.A. engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The company’s Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers primarily in the South, Southeast, and Northeast regions of Brazil. Its Fuel Distribution segment distributes and markets gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants and related activities through a network of 7,218 Ipiranga service stations. The company’s Chemicals segment produces ethylene oxide and its derivatives, as well as fatty alcohols, which are raw materials used in the home and personal care, agrochemical, paints, varnishes, and other industries. Its Storage segment operates liquid bulk terminals primarily in the Southeast and Northeast regions of Brazil. The company’s Drugstores segment trades in pharmaceutical, hygiene, and beauty products through its own drugstore chain in the North, Northeast, and Southeast regions of Brazil. Ultrapar Participações S.A. was founded in 1937 and is headquartered in São Paulo, Brazil.

Details
Name: Ultrapar Participações S.A.
UGR
Exchange: DB
Founded: 1937
R$2,491,900,815
1,088,138,436
Website: http://www.ultra.com.br
Address: Ultrapar Participações S.A.
Av. Brigadeiro Luis Antônio, 1343,
9º Andar,
São Paulo,
São Paulo, 01317-910,
Brazil
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BOVESPA UGPA3 Common Shares Bolsa de Valores de Sao Paulo BR BRL 24. Sep 2001
NYSE UGP SP ADR REP COM New York Stock Exchange US USD 07. Oct 1999
BASE UGP Cedear Each Repr 1 Adr Buenos Aires Stock Exchange AR ARS 09. Aug 2019
DB UGR SP ADR REP COM Deutsche Boerse AG DE EUR 07. Oct 1999
BMV UGP N SP ADR REP COM Bolsa Mexicana de Valores MX MXN 07. Oct 1999
Number of employees
Current staff
Staff numbers
16,024
Ultrapar Participações employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:42
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/02/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.