Also trades as: UGP (NYSE) · $vol 27M

R$38.65 ($7.39)

+0.56 (+1.47%)

Weekly Expected Move ±4.5%

R$34 R$36 R$38 R$39 R$41

SAO · Energy · Oil & Gas Refining & Marketing · Tech Score Buy · Power 60 · R$41.3B mcap · 633M float · 1.45% daily turnover

Revenue

$142.4B +6.6% ▲

5Y CAGR: +11.9%

Gross Profit

$9.4B -3.4% ▼

5Y CAGR: +10.8%

Operating Income

$4.6B -13.6% ▼

5Y CAGR: +20.4%

Net Income

$2.5B +3.9% ▲

5Y CAGR: +22.4%

EPS (Diluted)

$2.24 +6.2% ▲

5Y CAGR: +22.3%

EBITDA

$6.2B -8.1% ▼

5Y CAGR: +15.1%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$109.7B	$143.6B	$126.0B	$133.5B	$142.4B
YoY Growth	+35.1%	+30.9%	-12.2%	+5.9%	+6.6%
Cost of Revenue	$104.8B	$136.3B	$116.7B	$123.8B	$133.0B
Gross Profit	$4.9B	$7.4B	$9.3B	$9.7B	$9.4B
Gross Margin	4.5%	5.1%	7.4%	7.3%	6.6%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$3.5B	$3.7B	$4.3B	$4.4B	$4.8B
Operating Expenses	$3.3B	$4.0B	$4.8B	$4.4B	$4.8B
Operating Income	$1.8B	$3.8B	$4.6B	$5.3B	$4.6B
Operating Margin	1.6%	2.6%	3.6%	4.0%	3.2%
Interest Expense	$913M	$1.6B	$1.6B	$1.4B	$2.6B
Income Before Tax	$1.0B	$1.9B	$3.6B	$4.0B	$3.8B
Tax Expense	$188M	$342M	$1.1B	$1.5B	$1.1B
Net Income	$850M	$1.8B	$2.4B	$2.4B	$2.5B
Net Margin	0.8%	1.3%	1.9%	1.8%	1.7%
EPS (Diluted)	$0.78	$1.64	$2.21	$2.11	$2.24
EBITDA	$2.8B	$4.5B	$6.3B	$6.7B	$6.2B
Shares Outstanding	1.10B	1.10B	1.10B	1.12B	1.10B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$35.4B	$35.4B	$33.3B	$34.1B	$37.0B	$38.0B	$36.8B	$41.5B
Cost of Revenue	$33.1B	$32.2B	$31.2B	$31.9B	$34.6B	$35.4B	$33.6B	$36.9B
Gross Profit	$2.3B	$3.2B	$2.1B	$2.1B	$2.5B	$2.6B	$3.2B	$4.6B
Gross Margin	6.5%	9.1%	6.4%	6.3%	6.7%	6.8%	8.6%	11.1%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$1.1B	$1.1B	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.4B
Operating Expenses	$1.2B	$1.2B	$1.2B	$738M	$1.0B	$1.3B	$1.3B	$1.4B
Operating Income	$1.1B	$2.1B	$983M	$1.4B	$1.4B	$1.3B	$1.9B	$3.2B
Operating Margin	3.1%	6.0%	2.9%	4.1%	3.9%	3.4%	5.0%	7.7%
Interest Expense	$329M	$235M	$371M	$676M	$774M	$738M	$826M	$632M
Income Before Tax	$1.0B	$1.7B	$611M	$1.5B	$1.0B	$643M	$1.4B	$2.5B
Tax Expense	$308M	$776M	$248M	$354M	$257M	$204M	$498M	$793M
Net Income	$652M	$842M	$333M	$1.1B	$709M	$323M	$876M	$1.5B
Net Margin	1.8%	2.4%	1.0%	3.2%	1.9%	0.9%	2.4%	3.7%
EPS (Diluted)	$0.58	$0.75	$0.30	$0.98	$0.64	$0.30	$0.80	$1.42
EBITDA	$1.6B	$2.3B	$1.3B	$2.6B	$2.3B	$37M	$2.3B	$3.6B
Shares Outstanding	1.12B	1.12B	1.11B	1.11B	1.11B	1.09B	1.09B	1.09B

UGPA3.SA SAO