UGP (Ultrapar Participacoes) EBIT: $1,392 Mil (TTM As of Mar. 2026)


UGP Ultrapar Participacoes SA UGP
77 GF Score
Price $4.87
GF Value $4.56
Valuation Fairly Valued
! 1 Warning Sign
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What is Ultrapar Participacoes EBIT?

Ultrapar Participacoes UGP -1.42% 77 EBIT is $1,392 Mil as of Mar. 2026. GuruFocus rates UGP with a GF Score™ of 77/100 and a GF Value™ of $4.56 (Fairly Valued). The stock has 1 warning sign investors should review.

Ultrapar Participacoes's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $422 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $1,392 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ultrapar Participacoes's annualized ROC % for the quarter that ended in Mar. 2026 was 13.33%. Ultrapar Participacoes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 57.36%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Ultrapar Participacoes's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.70%.


Ultrapar Participacoes  (NYSE:UGP) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Ultrapar Participacoes's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1393.992 * ( 1 - 35.28% )/( (6552.932 + 6979.364)/ 2 )
=902.1916224/6766.148
=13.33 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9045.401 - 1204.48 - ( 1287.989 - max(0, 2171.553 - 3514.942+1287.989))
=6552.932

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9602.477 - 1254.265 - ( 1368.848 - max(0, 2386.311 - 3976.511+1368.848))
=6979.364

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Ultrapar Participacoes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1686.304/( ( (2583.681 + max(249.193, 0)) + (2674.465 + max(372.029, 0)) )/ 2 )
=1686.304/( ( 2832.874 + 3046.494 )/ 2 )
=1686.304/2939.684
=57.36 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(678.915 + 777.932 + 121.687) - (1204.48 + 9.014 + 115.847)
=249.193

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(797.639 + 869.242 + 198.878) - (1254.265 + 9.764 + 229.701)
=372.029

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Ultrapar Participacoes's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1391.675/8331.738
=16.70 %

* 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 EBIT Related Terms


Ultrapar Participacoes EBIT Historical Data

* Premium members only.

The historical data trend for Ultrapar Participacoes's EBIT 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.

Ultrapar Participacoes EBIT Chart

Ultrapar Participacoes Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 324.41 662.11 1,062.06 881.99 1,139.98

Ultrapar Participacoes Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 170.63 397.01 336.82 236.27 421.58

UGP vs VLO, MPC, PSX: EBIT Comparison

For the Oil & Gas Refining & Marketing subindustry, Ultrapar Participacoes's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Ultrapar Participacoes's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Ultrapar Participacoes's EV-to-EBIT falls into.


UGP
77GF Score
Ultrapar Participacoes SA UGP
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Ultrapar Participacoes EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,392 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $1,392 Mil mean?
Ultrapar Participacoes (UGP) has a EBIT of $1,392 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ultrapar Participacoes.
Is Ultrapar Participacoes' EBIT too high?
Ultrapar Participacoes' current EBIT is $1,392 Mil. Overall, Ultrapar Participacoes has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ultrapar Participacoes' EBIT compare to VLO and MPC?
Ultrapar Participacoes' EBIT of $1,392 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Oil & Gas company?
A good EBIT depends on the Oil & Gas industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ultrapar Participacoes. Ultrapar Participacoes's current EBIT is $1,392 Mil. 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 Fairly Valued. The stock's GF Value™ is $4.56, compared to a current price of $4.87 — trading 6.8% above its estimated fair value. The current EBIT is $1,392 Mil. Ultrapar Participacoes' overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Ultrapar Participacoes (UGP), the current EBIT is $1,392 Mil 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 $4.87 is trading 6.8% above its estimated GF Value™ of $4.56. GuruFocus considers Ultrapar Participacoes to be Fairly Valued.

Key valuation signals for UGP:

  • EBIT: $1,392 Mil
  • GF Value™: $4.56 vs. price of $4.87 (6.8% above fair value)
  • GF Score™: 77/100 with 1 warning sign

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 Business Description

Industry EnergyOil & Gas
Address Brigadeiro Luis Antonio Avenue, 1343, 9th Floor, Sao Paulo, SP, BRA, 01317-910
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.
77GF Score

Get the complete analysis for UGP

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$4.87
Price
$4.56
GF Value