Ultrapar ParticipacoesUGP +0.74%77 3-Year ROIIC % is 6.59 as of Dec. 2025, which is 197% above its 10-year median of 2.22. GuruFocus rates UGP with a GF Score™ of 77/100 and a GF Value™ of $4.55 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 925 Oil & Gas companies, Ultrapar Participacoes ranks better than 64% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Ultrapar Participacoes's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 6.59%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Ultrapar Participacoes's 3-Year ROIIC % or its related term are showing as below:
UGP's 3-Year ROIIC % is ranked better than 64% of 925
companies
in the Oil & Gas industry
Industry Median: -0.08
vs UGP: 6.59
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Ultrapar Participacoes 3-Year ROIIC % Related Terms
Ultrapar Participacoes 3-Year ROIIC % Historical Data
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The historical data trend for Ultrapar Participacoes's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ultrapar Participacoes's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Ultrapar Participacoes's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Ultrapar Participacoes (UGP) has a 3-Year ROIIC % of 6.59 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Ultrapar Participacoes and its competitors. This is 197% above median its historical median of 2.22. According to the industry distribution chart, Ultrapar Participacoes ranks #333 out of 925 companies in the Oil & Gas industry, placing it in the top 36%.
Is Ultrapar Participacoes' 3-Year ROIIC % too high?
Ultrapar Participacoes' current 3-Year ROIIC % of 6.59 is 197% above median its 10-year median of 2.22. Based on the distribution chart, Ultrapar Participacoes ranks #333 out of 925 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Ultrapar Participacoes has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ultrapar Participacoes' 3-Year ROIIC % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Ultrapar Participacoes ranks #333 out of 925 companies for 3-Year ROIIC %. This puts Ultrapar Participacoes in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Oil & Gas company?
A good 3-Year ROIIC % depends on the Oil & Gas industry context. However, 3-Year ROIIC % 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Ultrapar Participacoes and its competitors. Ultrapar Participacoes's current 3-Year ROIIC % is 6.59, which is 197% above median its own 10-year median of 2.22. 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 $4.55, compared to a current price of $5.45 — trading 19.8% above its estimated fair value. The current 3-Year ROIIC % is 6.59, which is 197% above median its 10-year median of 2.22. Ultrapar Participacoes' overall GF Score™ is 77/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Ultrapar Participacoes (UGP), the current 3-Year ROIIC % is 6.59 as of Dec. 2025. 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 $5.45 is trading 19.8% above its estimated GF Value™ of $4.55.
GuruFocus considers Ultrapar Participacoes to be Modestly Overvalued.
Key valuation signals for UGP:
3-Year ROIIC %: 6.59 (197% above median its 10-year median of 2.22)
GF Value™: $4.55 vs. price of $5.45 (19.8% above fair value)
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.
77GF Score
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