# Ultrapar Participações S.A. share price today (Ultrapar Participações S.A., UGP)

> Ultrapar Participações S.A.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. UGP · Energy · Oil & Gas Refining & Marketing · data as of 2 November 2026. Page: https://www.sectoralpha.in/us/stocks/ugp

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: $5.70 (+43.9% in a year)
- P/E: 9.7×, against its own history
- Revenue (Jun 2026): BRL 41.5 B (+21.9% on a year ago)
- Profit (Jun 2026): BRL 1.7 B (+45.8% on a year ago)
- Operating margin: 7.6% (+3.5 points on a year ago)
- ROE: 14%, FY25
- ROIC: 16.5%, against a 7.3% cost of capital: +9.2 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Ultrapar Participações S.A. share price today? Ultrapar Participações S.A.'s share price was $5.70 at the close on 2 November 2026. It has been moving sideways for 2 weeks. That is 4.0% below its average price over the last 200 trading days. In the last 52 weeks it traded between $4 and $8, and at that close it sat 48% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 2 weeks running. Over the last 10 years the share price moved −47% while the S&P 500 moved +255%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Ultrapar Participações S.A. pay? Ultrapar Participações S.A. declared BRL 1.00 per local share for Jun 2026, and BRL 2.75 over the last four reported quarters. It reports in Brazilian reais, and one US-listed share can stand for several local shares, so we do not set this against the dollar price or show a yield. ## Which stock lists is Ultrapar Participações S.A. on? Ultrapar Participações S.A. is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Ultrapar Participações S.A. profitable? Ultrapar Participações S.A. earned BRL 1.7 B of net profit in the Jun 2026 quarter, +45.8% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY25 profit was BRL 2.5 B. Over 4 years profit has grown 30.2% a year on average. That is 4.0% of the quarter's revenue. The same quarter a year earlier earned BRL 1.2 B. For the full year, FY25 profit was BRL 2.5 B (+0.6% on the year before). Why profit moved: revenue changed +21.9% on a year earlier and the margin moved +3.5 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +34.3% and revenue +11.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra dollar of revenue adds more to profit. This company reports in Brazilian reais, not US dollars, so the money charts are left out here. The figures in the text are in that currency (BRL); nothing is converted. ## How much revenue does Ultrapar Participações S.A. make, and is it growing? Ultrapar Participações S.A. reported BRL 41.5 B of revenue in the Jun 2026 quarter, +21.9% on the same quarter a year earlier. That is the 9th quarter in a row with growth on the year before. Over 4 years it has grown 6.7% a year on average. The last full year, FY25, came in at BRL 142 B. The last four reported quarters add to BRL 153 B. FY25 revenue was BRL 142 B, +6.6% on the year before. Recent pace: the last four quarters grew +11.0% on average, against 6.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.9%, against +9.1% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +17.0%, against +10.7% a year (accelerating). This company reports in Brazilian reais, not US dollars, so the money charts are left out here. The figures in the text are in that currency (BRL); nothing is converted. ## How much of its sales does Ultrapar Participações S.A. keep? Ultrapar Participações S.A.'s operating margin was 7.6% in the Jun 2026 quarter, 3.5 percentage points higher than the same quarter a year ago. Across 5 years it has been between 1.3% and 3.7%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +3.5 percentage points on the year while gross margin changed +4.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Ultrapar Participações S.A.'s profit turning into cash? Over the last 3 years, 172% of Ultrapar Participações S.A.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in BRL 5.5 B of operating cash against BRL 2.5 B of profit. After BRL 2.0 B of spending on assets, BRL 3.4 B was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. This company reports in Brazilian reais, not US dollars, so the money charts are left out here. The figures in the text are in that currency (BRL); nothing is converted. ## Where does Ultrapar Participações S.A.'s cash go? Ultrapar Participações S.A. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent BRL 5.1 B on assets over the last 3 years. Averaged over those years that is 1.2% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: BRL 5.1 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. This company reports in Brazilian reais, not US dollars, so the money charts are left out here. The figures in the text are in that currency (BRL); nothing is converted. ## What is Ultrapar Participações S.A.'s P/E ratio, and how does it compare with its own history? Ultrapar Participações S.A.'s P/E is 9.7×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the Ultrapar Participações S.A. business getting better or worse? Ultrapar Participações S.A.'s business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 20.5%; each line tells part of the story. This is based on 12 quarters of 3 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Ultrapar Participações S.A. earn on its capital? Ultrapar Participações S.A. earned a ROE of 14% in FY25. That is up from a low of 8% in FY21. Its return on capital used (ROIC) is 9.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 1.8% net margin and 2.88× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 1.8% net margin × 2.88× asset turnover × 2.78× leverage (assets divided by equity) ≈ 14.4% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 16.5% − 7.3% = +9.2 percentage points. The 7.3% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. A gap this wide means each dollar put back into the business creates more than a dollar of value. The 16.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 12.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Ultrapar Participações S.A. have too much debt? Ultrapar Participações S.A. has total debt of BRL 19.6 B against shareholder equity of BRL 20.0 B as of Jun 2026, so its debt is 0.98× its equity. Year by year, that ratio went from 1.69 in FY21 to 1.23 in FY25. Keep that borrowing in mind when reading the returns on this page. This company reports in Brazilian reais, not US dollars, so the money charts are left out here. The figures in the text are in that currency (BRL); nothing is converted. ## What is the Ultrapar Participações S.A. shareholding pattern? We have no ownership or short-position figures for Ultrapar Participações S.A., so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 2.5 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. ## How far is Ultrapar Participações S.A. from balance-sheet trouble? For Ultrapar Participações S.A., the Z-score is 4.40. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 4.40 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Ultrapar Participações S.A. rank in its industry? 53.4 out of 100, rank 9 of 17 in Oil & Gas Refining & Marketing, with 81% of the evidence available. Ultrapar Participações S.A. scores 53.4 out of 100 against the 17 companies it is compared with in Oil & Gas Refining & Marketing, ranking 9. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 19.1 + 18 + 12.9 + 3.4 = 53.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ultrapar Participações S.A. compared with? Ultrapar Participações S.A. ranks 9 of 17 Oil & Gas Refining & Marketing companies on the 4-Factor Sector Score, with 53.4 out of 100. 1. [Valero Energy Corporation](https://www.sectoralpha.in/us/stocks/vlo) VLO · leader · Sector-leading setup · 85% evidence 81.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 27.1% · Profit 100% · Operating margin change 14.2 points · 95% evidence Capital efficiency 20.4/25 · ROCE 22.8% · Operating margin 19.7% · 76% evidence Valuation 13.9/20 · P/E 8.6× · PEG 0.19 · 65% evidence Relative strength 16.9/20 · Lead over its industry 26.7% · Lead over S&P 500 39.7% · 1 year 120.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.1 + 20.4 + 13.9 + 16.9 = 81.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Marathon Petroleum Corporation](https://www.sectoralpha.in/us/stocks/mpc) MPC · leader · Most evidence points up · 81% evidence 76.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 15.2% · Profit 100% · Operating margin change 7.8 points · 83% evidence Capital efficiency 17.7/25 · ROCE 18.1% · Operating margin 13.6% · 76% evidence Valuation 12.9/20 · P/E 8.7× · PEG 0.35 · 65% evidence Relative strength 19.7/20 · Lead over its industry 36.9% · Lead over S&P 500 50.8% · 1 year 120.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.1 + 17.7 + 12.9 + 19.7 = 76.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Par Pacific Holdings, Inc.](https://www.sectoralpha.in/us/stocks/parr) PARR · turning · Most evidence points up · 74% evidence 69.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 13.2% · Profit n/a · Operating margin change 16.4 points · 62% evidence Capital efficiency 20.2/25 · ROCE 35.6% · Operating margin 21.1% · 76% evidence Valuation 15.7/20 · P/E 3.3× · PEG 0.18 · 65% evidence Relative strength 9.2/20 · Lead over its industry 3.5% · Lead over S&P 500 14.5% · 1 year 73.2% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.5 + 20.2 + 15.7 + 9.2 = 69.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [HF Sinclair Corporation](https://www.sectoralpha.in/us/stocks/dino) DINO · leader · Most evidence points up · 74% evidence 66.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 16.3% · Profit n/a · Operating margin change 7.6 points · 62% evidence Capital efficiency 14.6/25 · ROCE 17.2% · Operating margin 11.7% · 76% evidence Valuation 11.1/20 · P/E 6.6× · PEG 0.96 · 65% evidence Relative strength 18.3/20 · Lead over its industry 33.9% · Lead over S&P 500 47.6% · 1 year 107.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.5 + 14.6 + 11.1 + 18.3 = 66.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Phillips 66](https://www.sectoralpha.in/us/stocks/psx) PSX · leader · Evidence leans up · 71% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 14.4% · Profit 100% · Operating margin change 4.1 points · 83% evidence Capital efficiency 12.4/25 · ROCE 11.1% · Operating margin 8.5% · 76% evidence Valuation 9.7/20 · P/E 9.6× · PEG n/a · 15% evidence Relative strength 16.8/20 · Lead over its industry 24.5% · Lead over S&P 500 38.2% · 1 year 97.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.8 + 12.4 + 9.7 + 16.8 = 63.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [CVR Energy, Inc.](https://www.sectoralpha.in/us/stocks/cvi) CVI · breaking out · Evidence leans up · 74% evidence 62.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 17.9% · Profit n/a · Operating margin change 8.6 points · 62% evidence Capital efficiency 9.8/25 · ROCE 12.4% · Operating margin 2.8% · 76% evidence Valuation 12.1/20 · P/E 22.1× · PEG 0.34 · 65% evidence Relative strength 16.4/20 · Lead over its industry 20.4% · Lead over S&P 500 33.6% · 1 year 33.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.3 + 9.8 + 12.1 + 16.4 = 62.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [PBF Energy Inc.](https://www.sectoralpha.in/us/stocks/pbf) PBF · leader · Evidence leans up · 74% evidence 61.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue 13.5% · Profit n/a · Operating margin change 10.1 points · 62% evidence Capital efficiency 7.0/25 · ROCE 6.8% · Operating margin 8.8% · 76% evidence Valuation 15.1/20 · P/E 4× · PEG 0.18 · 65% evidence Relative strength 16.6/20 · Lead over its industry 36.7% · Lead over S&P 500 49.9% · 1 year 110.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.8 + 7 + 15.1 + 16.6 = 61.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Delek US Holdings, Inc.](https://www.sectoralpha.in/us/stocks/dk) DK · leader · Evidence leans up · 64% evidence 56.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 11.4% · Profit n/a · Operating margin change 8 points · 62% evidence Capital efficiency 11.6/25 · ROCE 15.5% · Operating margin 7.6% · 76% evidence Valuation 9.5/20 · P/E 13.9× · PEG n/a · 15% evidence Relative strength 13.7/20 · Lead over its industry 24.4% · Lead over S&P 500 37% · 1 year 71% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.8 + 11.6 + 9.5 + 13.7 = 56.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. Ultrapar Participações S.A. this page UGP · losing its lead · Evidence leans up · 81% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 10.9% · Profit 17% · Operating margin change 3.5 points · 83% evidence Capital efficiency 18.0/25 · ROCE 20.2% · Operating margin 7.6% · 76% evidence Valuation 12.9/20 · P/E 7.7× · PEG 0.38 · 65% evidence Relative strength 3.4/20 · Lead over its industry -11.7% · Lead over S&P 500 -1.5% · 1 year 36.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 19.1 + 18 + 12.9 + 3.4 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Star Group, L.P.](https://www.sectoralpha.in/us/stocks/sgu) SGU · turning · Evidence leans down · 74% evidence 47.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 7.6% · Profit 27.6% · Operating margin change -3.1 points · 62% evidence Capital efficiency 12.8/25 · ROCE 19.5% · Operating margin -10% · 76% evidence Valuation 15.7/20 · P/E 4.8× · PEG 0.11 · 65% evidence Relative strength 5.9/20 · Lead over its industry -13.4% · Lead over S&P 500 -1.5% · 1 year 11.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.9 + 12.8 + 15.7 + 5.9 = 47.3 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 11. [Sunoco LP](https://www.sectoralpha.in/us/stocks/sun) SUN · losing its lead · Evidence leans down · 81% evidence 47.0 out of 100 Growth Capital Valuation Relative
12. [World Kinect Corporation](https://www.sectoralpha.in/us/stocks/wkc) WKC · turning · Evidence leans down · 64% evidence 45.8 out of 100 Growth Capital Valuation Relative
13. [CrossAmerica Partners LP](https://www.sectoralpha.in/us/stocks/capl) CAPL · turning · Evidence leans down · 81% evidence 42.6 out of 100 Growth Capital Valuation Relative
14. [ARKO Petroleum Corp.](https://www.sectoralpha.in/us/stocks/apc) APC · quiet · Too little evidence to rank firmly · 51% evidence 38.7 out of 100 Growth Capital Valuation Relative
15. [Clean Energy Fuels Corp.](https://www.sectoralpha.in/us/stocks/clne) CLNE · turning · Most evidence points down · 61% evidence 32.3 out of 100 Growth Capital Valuation Relative
16. [Delek Logistics Partners, LP](https://www.sectoralpha.in/us/stocks/dkl) DKL · quiet · Most evidence points down · 81% evidence 32.1 out of 100 Growth Capital Valuation Relative
17. [Icahn Enterprises L.P.](https://www.sectoralpha.in/us/stocks/iep) IEP · quiet · Most evidence points down · 64% evidence 28.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Oil & Gas Refining & Marketing](https://www.sectoralpha.in/us/sectors/oil-gas-refining-marketing), all 17 compared on one page. ## Which companies are close to Ultrapar Participações S.A. in size? Ultrapar Participações S.A. is the 7th largest of 18 Oil & Gas Refining & Marketing companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: HF Sinclair Corporation, PBF Energy Inc. and Sunoco LP. Just below it: CVR Energy, Inc., Delek US Holdings, Inc. and Icahn Enterprises L.P. ### Oil & Gas Refining & Marketing companies close in size

1. [HF Sinclair Corporation](https://www.sectoralpha.in/us/stocks/dino) $19.4 billion
2. [PBF Energy Inc.](https://www.sectoralpha.in/us/stocks/pbf) $9.5 billion
3. [Sunoco LP](https://www.sectoralpha.in/us/stocks/sun) $9.4 billion
4. Ultrapar Participações S.A. $6 billion
5. [CVR Energy, Inc.](https://www.sectoralpha.in/us/stocks/cvi) $4.9 billion
6. [Delek US Holdings, Inc.](https://www.sectoralpha.in/us/stocks/dk) $4.3 billion
7. [Icahn Enterprises L.P.](https://www.sectoralpha.in/us/stocks/iep) $3.8 billion

[All 18 Oil & Gas Refining & Marketing companies, largest first](https://www.sectoralpha.in/us/sectors/oil-gas-refining-marketing#all-companies)

### Companies close in size in other industries

1. [Lyft, Inc.](https://www.sectoralpha.in/us/stocks/lyft) $6.3 billion · Software - Application
2. [PJT Partners Inc.](https://www.sectoralpha.in/us/stocks/pjt) $6.3 billion · Capital Markets
3. Ultrapar Participações S.A. $6.3 billion
4. [ESCO Technologies Inc.](https://www.sectoralpha.in/us/stocks/ese) $6.2 billion · Scientific & Technical Instruments
5. [Ingredion Incorporated](https://www.sectoralpha.in/us/stocks/ingr) $6.2 billion · Packaged Foods

## What else do people ask about Ultrapar Participações S.A.? ### What is Ultrapar Participações S.A.'s stock price today? Ultrapar Participações S.A.'s stock price is $5.70, +43.9% over the past year. The whole company is worth $6.0 B on the market. In the last 52 weeks it traded between $4 to $8; today it is 48% of the way up from the low, 4.0% below its 200-day average (as of 2 November 2026). ### What were Ultrapar Participações S.A.'s latest quarterly results? Ultrapar Participações S.A. reported revenue of BRL 41.5 B and net profit of BRL 1.7 B for the Jun 2026 quarter. Revenue rose 21.9% and profit rose 45.8% compared with a year earlier. The operating margin was 7.6%, 3.5 percentage points higher than a year earlier (as of 2 November 2026). ### What is Ultrapar Participações S.A.'s market cap? Ultrapar Participações S.A.'s market capitalisation is $6.0 B at a stock price of $5.70. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 2 November 2026). ### How is Ultrapar Participações S.A. performing? Ultrapar Participações S.A.'s share price has been moving sideways for 2 weeks. In its latest quarter, revenue rose 21.9% and profit rose 45.8% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 2 weeks running (as of 2 November 2026). ### Will Ultrapar Participações S.A.'s stock price go up? This page does not forecast Ultrapar Participações S.A.'s stock price. What it shows instead: the stock price is $5.70, and it has been moving sideways for 2 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 2 November 2026). ### Where is Ultrapar Participações S.A. in its business cycle? Ultrapar Participações S.A.'s FY25 operating margin was 3.5%, against a 5-year range of 1.3% to 3.7%: the middle of its own range, neither a peak nor a low. The latest quarter was 7.6%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 2 November 2026). ### What could break the Ultrapar Participações S.A. story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 2 November 2026). ### Is Ultrapar Participações S.A. a stock worth studying right now? What the numbers show: Ultrapar Participações S.A.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 2 November 2026). This is research, not advice. We’re not SEBI-registered.