Ultrapar ParticipacoesUGP +3.27%75 Return-on-Tangible-Asset is 7.70% as of Mar. 2026, which is 42% above its 10-year median of 5.43. GuruFocus rates UGP with a GF Score™ of 75/100 and a GF Value™ of $4.62 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,024 Oil & Gas companies, Ultrapar Participacoes ranks better than 77.54% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Ultrapar Participacoes's annualizedNet Income for the quarter that ended in Mar. 2026 was $670 Mil. Ultrapar Participacoes's average total tangible assets for the quarter that ended in Mar. 2026 was $8,693 Mil. Therefore, Ultrapar Participacoes's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 7.70%.
The historical rank and industry rank for Ultrapar Participacoes's Return-on-Tangible-Asset or its related term are showing as below:
UGP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.3 Med: 5.43 Max: 7.77
Current: 7.04
During the past 13 years, Ultrapar Participacoes's highest Return-on-Tangible-Asset was 7.77%. The lowest was 1.30%. And the median was 5.43%.
UGP's Return-on-Tangible-Asset is ranked better than 77.54% of 1024
companies
in the Oil & Gas industry
Industry Median: 2.08
vs UGP: 7.04
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Ultrapar Participacoes Return-on-Tangible-Asset Related Terms
Ultrapar Participacoes Return-on-Tangible-Asset Historical Data
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The historical data trend for Ultrapar Participacoes's Return-on-Tangible-Asset 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.
UGP vs VLO, MPC, PSX: Return-on-Tangible-Asset Comparison
For the Oil & Gas Refining & Marketing subindustry, Ultrapar Participacoes's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ultrapar Participacoes's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Ultrapar Participacoes's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 7.70% mean?
Ultrapar Participacoes (UGP) has a Return-on-Tangible-Asset of 7.70% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ultrapar Participacoes and its competitors. This is 42% above median its historical median of 5.43. Over the past decade, Ultrapar Participacoes' Return-on-Tangible-Asset has ranged from 1.30 to 7.77. According to the industry distribution chart, Ultrapar Participacoes ranks #230 out of 1024 companies in the Oil & Gas industry, placing it in the top 22.5%.
Is Ultrapar Participacoes' Return-on-Tangible-Asset too high?
Ultrapar Participacoes' current Return-on-Tangible-Asset of 7.70% is 42% above median its 10-year median of 5.43. Over the past 10 years, this metric has ranged from a low of 1.30 to a high of 7.77. The Oil & Gas industry median Return-on-Tangible-Asset is 2.08. Ultrapar Participacoes' value of 7.70% is 270.2% above this industry median. Based on the distribution chart, Ultrapar Participacoes ranks #230 out of 1024 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Ultrapar Participacoes has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ultrapar Participacoes' Return-on-Tangible-Asset compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Ultrapar Participacoes ranks #230 out of 1024 companies for Return-on-Tangible-Asset. This places Ultrapar Participacoes in the top 23% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.08. Ultrapar Participacoes' value of 7.70% is 270.2% above this benchmark. Historically, Ultrapar Participacoes' own Return-on-Tangible-Asset has ranged from 1.30 to 7.77 over the past decade. While the company's 10-year median is 5.43 vs. the industry median of 2.08, 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 Return-on-Tangible-Asset for an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.08, based on 1,024 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ultrapar Participacoes's current Return-on-Tangible-Asset of 7.70% is 270.2% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ultrapar Participacoes and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ultrapar Participacoes's current Return-on-Tangible-Asset is 7.70%, which is 42% above median its own 10-year median of 5.43. 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 Modestly Overvalued. The stock's GF Value™ is $4.62, compared to a current price of $6.00 — trading 29.9% above its estimated fair value. The current Return-on-Tangible-Asset is 7.70%, which is 42% above median its 10-year median of 5.43 and 270.2% above the Oil & Gas industry median of 2.08. Ultrapar Participacoes' overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Ultrapar Participacoes (UGP), the current Return-on-Tangible-Asset is 7.70% 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 $6.00 is trading 29.9% above its estimated GF Value™ of $4.62.
GuruFocus considers Ultrapar Participacoes to be Modestly Overvalued.
Key valuation signals for UGP:
Return-on-Tangible-Asset: 7.70% (42% above median its 10-year median of 5.43)
GF Value™: $4.62 vs. price of $6.00 (29.9% above fair value)
Industry Position: 270.2% above the Oil & Gas median (#230 of 1024)
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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