ULTRAPAR HOLDINGS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ULTRAPAR HOLDINGS INC files with the SEC in its annual reports.

In BRL millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	75,655	76,740	79,230	90,698	83,005	74,058	109,733	143,635	126,049	133,499
Cost of revenue	68,934	70,197	72,431	84,537	78,209	70,056	104,828	136,276	116,730	123,812
Gross profit	6,722	6,543	6,799	6,161	4,796	4,002	4,905	7,358	9,318	9,687
Research and development	41.4	50.1	55.8	63.1	61.6	63.7
Selling, general and administrative	2,517	2,220	2,486	2,602	2,886	2,605
General and administrative	1,321	1,446	1,577	1,626	1,726	1,537
Operating income	50.6	199	59.4
Interest expense	1,130	1,356	1,059	795	1,018	908	1,223	2,176	1,880	1,813
Interest income	426	513	585	681	344	358	460	707	881	881
Pre-tax income	2,247	2,235	2,339	1,771	1,365	952	1,007	1,880	3,579	4,012
Income tax	-720	-800	-922		470	305	188	342	1,061	1,486
Income from continuing operations					895	647	819	1,538	2,518	2,526
Net income to minority interests	9.51	8.98	-0.64	-18.1	29.4	34.3	33.4	39.2	78	163
Net income	1,503	1,538	1,527	1,150	374	893	850	1,801	2,440	2,363
EBITDA	1,053	827	764
EPS, basic	1.36	1.42	1.41	1.06	0.34	0.82	0.78	1.65	2.23	2.14
EPS, diluted	1.35	1.41	1.40	1.05	0.34	0.82	0.78	1.64	2.21	2.11

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	2,703	4,274	5,002	3,939	2,115	2,661	2,280	5,622	5,926	2,072
Short-term investments		1,413	1,283	2,853	3,090	5,033	1,804	520	293	2,553
Receivables		20.6	44	58.6	36.8	57	56.2	174	264	295
Inventory		2,761	3,514	3,355	3,716	3,846	3,919	4,906	4,291	3,917
Total current assets		13,012	15,490	16,212	15,058	17,489	25,024	18,565	18,649	16,048
Property, plant and equipment	5,439	5,796	6,638	7,279	7,573	8,006	5,535	5,862	6,388	7,136
Lease right-of-use assets					1,981	2,150	1,651	1,791	1,712	1,671
Intangible assets		3,372	2,238	2,369	1,763	1,783
Total assets		24,160	28,284	30,499	31,195	36,250	39,010	36,441	38,252	39,558
Accounts payable		1,710	2,155	2,552	2,158	2,745			4,683	3,518
Total current liabilities		5,487	7,010	6,337	5,195	9,241	12,640	12,766	11,230	10,493
Lease liabilities					1,382	1,573	1,159	1,299	1,213	1,169
Total liabilities		15,684	18,660	20,699	21,360	26,340	28,541	24,266	24,222	23,735
Total debt				15,116	14,393	17,376	16,378	11,750	11,768	14,302
Shareholders' equity		8,528	9,246	9,448	9,458	9,534	10,067	11,709	13,506	15,159
Minority interests		30.9	378	352	377	377	402	466	523	665
Total equity	7,974	8,476	9,624	9,800	9,835	9,910	10,469	12,175	14,030	15,823
Total liabilities and equity		24,160	28,284	30,499	31,195	36,250	39,010	36,441	38,252	39,558

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	1,513	1,547	1,526	1,132	403	928	884	1,840	2,518	2,526
Depreciation and amortization	1,003	628	705	812	552	596	653	732	840	861
Cash from operations	3,202	1,989	1,739	2,889	2,925	3,138	2,586	2,005	3,850	3,736
Capital expenditures	-804	-1,034	-1,302	-1,178	-721	-751	-1,028	-929	-1,013
Cash from investing	-802	-1,324	-1,372	-3,178	-1,835	-2,136	724	7,903	-1,022	-6,388
Debt issued	2,385	3,677	4,511	4,461	2,009	3,387	1,384	1,520	2,903	4,180
Debt repaid	-2,825	-813	-2,462	-3,711	-2,461	-1,815	-2,426	-5,849	-3,150	-2,719
Dividends paid	-832	-873	-940	-809	-596	-285	-706	-638	-400	-834
Cash from financing	-2,521	928	340	-801	-2,922	-592	-3,356	-6,911	-2,494	-1,234
Exchange rate effect	-3.66	-22	20.2	26.6	-21.8	21.9
Net change in cash				-1,063	-1,824	546	6.56
Free cash flow	2,398	955	437	1,711	2,204	2,388	1,558	1,075	2,837
Income taxes paid		4.02	-33.1	-46.5	-1.92	-16.1

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	7.3%	Gross profit / revenue.
Pre-tax margin	3.0%	Pre-tax income / revenue.
Net margin	1.8%	Net income / revenue.
Operating cash flow margin	2.8%	Cash from operations / revenue.
Effective tax rate	37.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	16.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.1%	Net income / average total assets.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	25.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-3.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	40.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	44.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-4.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	39.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	44.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-3.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	12.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	14.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.53x	Current assets / current liabilities.
Quick ratio	0.47x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.44x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.94x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	36.2%	Total debt / total assets.
Liabilities / assets	60.0%	Total liabilities / total assets.
Net debt	R$9.68B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	R$5.55B	Current assets - current liabilities.
Tangible book value	R$15.16B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	3.43x	Revenue / average total assets.
Fixed asset turnover	19.7x	Revenue / average property, plant and equipment.
Inventory turnover	30.2x	Cost of revenue / average inventory.
Days inventory	12 days	365 x average inventory / cost of revenue.
Receivables turnover	478x	Revenue / average receivables.
Days sales outstanding	1 days	365 x average receivables / revenue.
Days payables	12 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	1 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	R$2.11	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	R$2.14	Net income per basic share, as reported (split-adjusted).
Payout ratio	35.3%	Dividends paid / net income, when net income is positive.

What was ULTRAPAR HOLDINGS INC's revenue in fiscal 2024?

ULTRAPAR HOLDINGS INC reported revenue of R$133.50B for fiscal 2024, 5.9% higher than the year before.

Was ULTRAPAR HOLDINGS INC profitable in fiscal 2024?

Yes. Net income was R$2.36B, a net margin of 1.8%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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