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Ultrapar ParticipacoesUGP -1.27%75 Debt-to-Equity is 1.28 as of Mar. 2026, which is 8% below its 10-year median of 1.39. GuruFocus rates UGP with a GF Score™ of 75/100 and a GF Value™ of $4.55 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 796 Oil & Gas companies, Ultrapar Participacoes ranks worse than 78.52% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Ultrapar Participacoes's Debt-to-Equity or its related term are showing as below:
UGP'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.98 Med: 1.39 Max: 2.19
Current: 1.28
During the past 13 years, the highest Debt-to-Equity Ratio of Ultrapar Participacoes was 2.19. The lowest was 0.98. And the median was 1.39.
UGP's Debt-to-Equity is ranked worse than 78.52% of 796
companies
in the Oil & Gas industry
Industry Median: 0.465
vs UGP: 1.28
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Ultrapar Participacoes Debt-to-Equity Related Terms
Ultrapar Participacoes Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Ultrapar Participacoes's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Refining & Marketing subindustry, Ultrapar Participacoes's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ultrapar Participacoes Debt-to-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ultrapar Participacoes's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Ultrapar Participacoes's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ultrapar Participacoes (UGP) has a Debt-to-Equity of 1.28 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ultrapar Participacoes and its competitors. This is near median its historical median of 1.39. Over the past decade, Ultrapar Participacoes' Debt-to-Equity has ranged from 0.98 to 2.19. According to the industry distribution chart, Ultrapar Participacoes ranks #625 out of 796 companies in the Oil & Gas industry, placing it in the top 78.5%.
Is Ultrapar Participacoes' Debt-to-Equity too high?
Ultrapar Participacoes' current Debt-to-Equity of 1.28 is near median its 10-year median of 1.39. Over the past 10 years, this metric has ranged from a low of 0.98 to a high of 2.19. The Oil & Gas industry median Debt-to-Equity is 0.47. Ultrapar Participacoes' value of 1.28 is 175.3% above this industry median. Based on the distribution chart, Ultrapar Participacoes ranks #625 out of 796 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Ultrapar Participacoes has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ultrapar Participacoes' Debt-to-Equity compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Ultrapar Participacoes ranks #625 out of 796 companies for Debt-to-Equity. This places Ultrapar Participacoes in the lower half of its industry. The industry median Debt-to-Equity is 0.47. Ultrapar Participacoes' value of 1.28 is 175.3% above this benchmark. Historically, Ultrapar Participacoes' own Debt-to-Equity has ranged from 0.98 to 2.19 over the past decade. While the company's 10-year median is 1.39 vs. the industry median of 0.47, Ultrapar Participacoes has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Oil & Gas company?
The median Debt-to-Equity among Oil & Gas companies is 0.47, based on 796 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ultrapar Participacoes's current Debt-to-Equity of 1.28 is 175.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ultrapar Participacoes and its competitors. For the Oil & Gas industry, the median Debt-to-Equity is 0.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ultrapar Participacoes's current Debt-to-Equity is 1.28, which is near median its own 10-year median of 1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ultrapar Participacoes stock overvalued right now?
Based on GuruFocus' analysis, Ultrapar Participacoes (UGP) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.55, compared to a current price of $6.23 — trading 36.9% above its estimated fair value. The current Debt-to-Equity is 1.28, which is near median its 10-year median of 1.39 and 175.3% above the Oil & Gas industry median of 0.47. Ultrapar Participacoes' overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Ultrapar Participacoes (UGP), the current Debt-to-Equity is 1.28 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ultrapar Participacoes (UGP) Overvalued in 2026?
Based on GuruFocus' analysis, Ultrapar Participacoes stock appears to be overvalued.
The current stock price of $6.23 is trading 36.9% above its estimated GF Value™ of $4.55.
GuruFocus considers Ultrapar Participacoes to be Significantly Overvalued.
Key valuation signals for UGP:
Debt-to-Equity: 1.28 (near median its 10-year median of 1.39)
GF Value™: $4.55 vs. price of $6.23 (36.9% above fair value)
Industry Position: 175.3% above the Oil & Gas median (#625 of 796)
No single metric tells the full story. See the UGP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ultrapar Participacoes SA engages in the investment of its own capital in services, commercial, and industrial activities, through the subscription or acquisition of shares of other companies. The company's business segments include: i) Ultragaz distributes LPG in the segments: bulk, comprising condominiums, trade, services, industries, and agribusiness; and bottled, mainly comprising residential consumers. ii) Ipiranga, the majority revenue generating segment, engages in the distribution and sale of oil-related products to service stations that operate under the Ipiranga brand throughout Brazil. iii) Ultracargo operates in specialized liquid bulk storage solutions in the main logistics centers. iv) Hidrovias: operates in logistics solutions and waterway and multimodal infrastructure.
75GF Score
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