The story
Founded by Ernesto Igel in 1937.1
UGP on NYSE
Logo: Grupo Ultra, Public domain, via Wikimedia Commons4
Brazilian company
The Ultra Group is a Brazilian conglomerate operating in the industry segments of energy and logistics infrastructure through its subsidiaries Ipiranga, Ultragaz and Ultracargo. These subsidiaries are fully controlled by the holding company Ultrapar.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 16, 2026.
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The Ultra Group is a Brazilian conglomerate operating in the industry segments of energy and logistics infrastructure through its subsidiaries Ipiranga, Ultragaz and Ultracargo. These subsidiaries are fully controlled by the holding company Ultrapar. The Group's shares are traded under the name Ultrapar on São Paulo (B3) and on New York (NYSE) stock exchanges.3
From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in BRL, the currency the company reports in.
Revenue by product, business segment and region, as the company reports it to the SEC.
Ipiranga [member] brought in 90% of the revenue Ultrapar broke down this way in fiscal 2025.
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Ipiranga [member] | 114.6B BRL | 121.3B BRL | 127.6B BRL |
| Ultragaz [member] | 10.7B BRL | 11.3B BRL | 12.3B BRL |
| Hidrovias do Brasil | 1.6B BRL | ||
| Ultracargo [member] | 1.0B BRL | 1.1B BRL | 1.0B BRL |
| All other segments [member] | 14.3M BRL | 8.7M BRL | 9.1M BRL |
BRMember brought in 98% of the revenue Ultrapar broke down this way in fiscal 2025.
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| BRMember | 124.4B BRL | 132.3B BRL | 139.8B BRL |
| Oceania | 0 BRL | 768.4M BRL | |
| United States Of America And Canada [member] | 1.1B BRL | 681.1M BRL | 729.5M BRL |
| Other Latin American Countries [member] | 204.3M BRL | 202.9M BRL | 527.3M BRL |
| Europe | 202.7M BRL | 50.7M BRL | 267.4M BRL |
| Others Regions | 156.8M BRL | 252.5M BRL | 254.3M BRL |
Out of 133.5B BRL in revenue.6
Out of 3.7B BRL of cash from operations.6
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net revenue from sales and services | 142.4B BRL | 133.5B BRL | 126.0B BRL |
| Cost of products and services sold | -133.0B BRL | -123.8B BRL | -116.7B BRL |
| Gross profit | 9.4B BRL | 9.7B BRL | 9.3B BRL |
| Selling and marketing | -2.5B BRL | -2.5B BRL | -2.3B BRL |
| General and administrative | -2.2B BRL | -1.9B BRL | -2.0B BRL |
| Results from disposal of assets | 99.6M BRL | 171.8M BRL | 121.9M BRL |
| Other operating income (expenses), net | 354.7M BRL | -414.1M BRL | -602.9M BRL |
| Operating result before share of profit (loss) of subsidiaries, joint ventures and associates, financial result and income and social contribution taxes | 5.0B BRL | 5.1B BRL | 4.6B BRL |
| Share of profit (loss) of subsidiaries, joint ventures and associates | -156.0M BRL | -127.2M BRL | 11.9M BRL |
| Amortization of fair value adjustments on associates acquisition | -1.6M BRL | -2.5M BRL | 0 BRL |
| Gain on acquisition of control of associate | 91.1M BRL | 0 BRL | 0 BRL |
| Total share of profit (loss) of subsidiaries, joint ventures and associates | -66.5M BRL | -129.7M BRL | 11.9M BRL |
| Income before financial result and income and social contribution taxes | 5.0B BRL | 4.9B BRL | 4.6B BRL |
| Financial income | 1.6B BRL | 881.1M BRL | 880.9M BRL |
| Financial expenses | -2.7B BRL | -1.8B BRL | -1.9B BRL |
| Financial result, net | -1.2B BRL | -931.9M BRL | -999.1M BRL |
| Income before income and social contribution taxes | 3.8B BRL | 4.0B BRL | 3.6B BRL |
| Current | -1.1B BRL | -1.1B BRL | -1.4B BRL |
| Deferred | -8.9M BRL | -361.0M BRL | 335.4M BRL |
| Income and social contribution taxes in the statement of income | -1.1B BRL | -1.5B BRL | -1.1B BRL |
| Net income from continuing operations | 2.7B BRL | 2.5B BRL | 2.5B BRL |
| Net income (loss) from discontinued operations | -206.3M BRL | 0 BRL | 0 BRL |
| Net income for the year | 2.5B BRL | 2.5B BRL | 2.5B BRL |
| Shareholders of Ultrapar | 2.5B BRL | 2.4B BRL | 2.4B BRL |
| Non-controlling interests in subsidiaries | 88.1M BRL | 163.2M BRL | 78.0M BRL |
| Basic | 2.40 BRL | 2.14 BRL | 2.23 BRL |
| Diluted | 2.35 BRL | 2.11 BRL | 2.21 BRL |
| Basic | -0.11 BRL | 0.00 BRL | 0.00 BRL |
| Diluted | -0.11 BRL | 0.00 BRL | 0.00 BRL |
| Basic | 2.29 BRL | 2.14 BRL | 2.23 BRL |
| Diluted | 2.24 BRL | 2.11 BRL | 2.21 BRL |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | 3.2B BRL | 2.1B BRL | 5.9B BRL |
| Financial investments | 3.9B BRL | 2.3B BRL | |
| Derivative financial instruments | 127.3M BRL | 246.1M BRL | |
| Trade receivables | 3.7B BRL | 3.5B BRL | |
| Reseller financing | 573.1M BRL | 512.0M BRL | |
| Inventories | 4.2B BRL | 3.9B BRL | |
| Recoverable taxes | 1.7B BRL | 2.0B BRL | |
| Recoverable income and social contribution taxes | 318.0M BRL | 151.9M BRL | |
| Energy trading futures contracts | 371.2M BRL | 141.3M BRL | |
| Dividends receivable | 923.0K BRL | 3.4M BRL | |
| Other receivables and other assets | 294.1M BRL | 294.8M BRL | |
| Prepaid expenses | 165.4M BRL | 163.8M BRL | |
| Contractual assets with customers - exclusivity rights | 666.1M BRL | 658.6M BRL | 787.2M BRL |
| Total current assets | 19.2B BRL | 16.0B BRL | |
| Financial investments | 2.4B BRL | 2.8B BRL | |
| Derivative financial instruments | 773.1M BRL | 585.3M BRL | |
| Trade receivables | 33.3M BRL | 27.0M BRL | |
| Reseller financing | 800.9M BRL | 766.0M BRL | |
| Related parties | 105.2M BRL | 48.3M BRL | |
| Deferred income and social contribution taxes | 1.0B BRL | 936.9M BRL | |
| Recoverable taxes | 3.7B BRL | 2.7B BRL | |
| Recoverable income and social contribution taxes | 346.1M BRL | 346.1M BRL | |
| Energy trading futures contracts | 724.1M BRL | 263.4M BRL | |
| Escrow deposits | 471.6M BRL | 446.1M BRL | |
| Indemnification asset - business combination | 92.5M BRL | 126.1M BRL | |
| Other receivables and other assets | 185.7M BRL | 117.1M BRL | |
| Prepaid expenses | 80.6M BRL | 40.9M BRL | |
| Contractual assets with customers - exclusivity rights | 1.5B BRL | 1.5B BRL | 1.5B BRL |
| Investments in subsidiaries, joint ventures and associates | 521.4M BRL | 2.1B BRL | |
| Right-of-use assets, net | 1.9B BRL | 1.7B BRL | |
| Property, plant and equipment, net | 12.2B BRL | 7.1B BRL | 6.4B BRL |
| Intangible assets, net | 3.3B BRL | 1.9B BRL | 2.6B BRL |
| Total non-current assets | 30.2B BRL | 23.5B BRL | |
| Total assets | 49.3B BRL | 39.6B BRL | |
| Trade payables | 4.6B BRL | 3.5B BRL | |
| Trade payables - reverse factoring | 3.8M BRL | 1.0B BRL | |
| Loans, financing and debentures | 4.3B BRL | 3.5B BRL | |
| Derivative financial instruments | 246.1M BRL | 74.1M BRL | |
| Salaries and related charges | 576.7M BRL | 480.3M BRL | |
| Taxes payable | 236.9M BRL | 151.2M BRL | |
| Energy trading futures contracts | 303.5M BRL | 66.7M BRL | |
| Dividends payable | 23.1M BRL | 327.5M BRL | 334.6M BRL |
| Income and social contribution taxes payable | 358.7M BRL | 322.1M BRL | |
| Post-employment benefits | 19.1M BRL | 24.1M BRL | |
| Provisions for tax, civil and labor risks | 49.2M BRL | 47.8M BRL | 45.8M BRL |
| Leases payable | 343.7M BRL | 316.5M BRL | 311.4M BRL |
| Financial liabilities of customers | 63.4M BRL | 117.1M BRL | |
| Other payables | 728.8M BRL | 554.3M BRL | |
| Total current liabilities | 11.8B BRL | 10.5B BRL | |
| Loans, financing and debentures | 15.8B BRL | 10.4B BRL | |
| Derivative financial instruments | 334.9M BRL | 367.5M BRL | |
| Energy trading futures contracts | 431.4M BRL | 48.0M BRL | |
| Related parties | 2.9M BRL | 3.5M BRL | |
| Deferred income and social contribution taxes | 637.9M BRL | 132.8M BRL | |
| Post-employment benefits | 196.5M BRL | 198.8M BRL | |
| Provisions for tax, civil and labor risks | 485.4M BRL | 610.6M BRL | 1.3B BRL |
| Leases payable | 1.4B BRL | 1.2B BRL | 1.2B BRL |
| Financial liabilities of customers | 10.9M BRL | 63.1M BRL | |
| Subscription warrants - indemnification | 53.9M BRL | 47.7M BRL | |
| Provision for loss on investment | 76.1M BRL | 349.0K BRL | |
| Other payables | 303.1M BRL | 218.4M BRL | |
| Total non-current liabilities | 19.8B BRL | 13.2B BRL | |
| Share capital | 8.0B BRL | 6.6B BRL | |
| Equity instrument granted | 144.7M BRL | 108.3M BRL | |
| Capital reserve | 617.0M BRL | 612.0M BRL | |
| Treasury shares | -822.5M BRL | -596.4M BRL | |
| Revaluation reserve | 3.5M BRL | 3.6M BRL | |
| Profit reserves | 7.7B BRL | 8.2B BRL | |
| Accumulated other comprehensive income | 223.4M BRL | 214.2M BRL | |
| Acquisition of shares from shareholders | -149.2M BRL | 0 BRL | |
| Ultrapar shareholders' equity | 15.7B BRL | 15.2B BRL | |
| Non-controlling interests | 2.1B BRL | 664.7M BRL | |
| Total equity | 17.7B BRL | 15.8B BRL | 14.0B BRL |
| Total liabilities and equity | 49.3B BRL | 39.6B BRL |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income from continuing operations | 2.7B BRL | 2.5B BRL | 2.5B BRL |
| Share of profit (loss) of subsidiaries, joint ventures and associates and amortization of fair value adjustments on associates acquisition | 157.6M BRL | 129.7M BRL | -11.9M BRL |
| Amortization of contractual assets with customers - exclusivity rights | 469.8M BRL | 555.1M BRL | 607.4M BRL |
| Amortization of right-of-use assets | 367.1M BRL | 312.1M BRL | 305.9M BRL |
| Depreciation and amortization | 1.2B BRL | 900.7M BRL | 848.9M BRL |
| Interest, monetary variations and foreign exchange variations | 1.5B BRL | 1.6B BRL | 1.3B BRL |
| Current and deferred income and social contribution taxes | 1.1B BRL | 1.5B BRL | 1.1B BRL |
| Gain (loss) on disposal or write-off of assets | -110.3M BRL | -207.1M BRL | -192.7M BRL |
| Equity instrument granted | 40.6M BRL | 57.5M BRL | 38.9M BRL |
| Gain (loss) on the fair value of energy contracts | -71.1M BRL | -64.3M BRL | 0 BRL |
| Provision for decarbonization - CBIO | 370.8M BRL | 584.4M BRL | 740.3M BRL |
| Revaluation of investment in associates | -91.1M BRL | 0 BRL | 0 BRL |
| Provisions for tax, civil and labor risks | -103.9M BRL | -4.7M BRL | 193.0M BRL |
| Other provisions and adjustments | -18.4M BRL | -11.4M BRL | -45.2M BRL |
| Cash flows from operations before changes in working capital | 7.5B BRL | 7.8B BRL | 7.4B BRL |
| Trade receivables and reseller financing | -185.6M BRL | 180.3M BRL | 259.9M BRL |
| Inventories | -151.3M BRL | 371.2M BRL | 645.3M BRL |
| Recoverable taxes | -171.1M BRL | -585.3M BRL | -309.3M BRL |
| Dividends received from subsidiaries, associates and joint ventures | 11.1M BRL | 2.0M BRL | 12.0M BRL |
| Other assets | 167.9M BRL | -114.5M BRL | -87.8M BRL |
| Trade payables and trade payables - reverse factoring | -31.8M BRL | -1.2B BRL | -1.7B BRL |
| Salaries and related charges | 47.6M BRL | -17.0M BRL | 31.0M BRL |
| Taxes payable | 9.0M BRL | -23.5M BRL | -25.0M BRL |
| Income and social contribution taxes payable | -949.4M BRL | -1.1B BRL | -892.1M BRL |
| Other liabilities | 189.9M BRL | -160.3M BRL | 218.5M BRL |
| Acquisition of CBIO and carbon credits | -370.5M BRL | -713.5M BRL | -778.9M BRL |
| Payments of contractual assets with customers - exclusivity rights | -455.6M BRL | -418.2M BRL | -597.8M BRL |
| Payment of contingencies | -78.5M BRL | -30.9M BRL | -70.1M BRL |
| Income and social contribution taxes paid | -124.1M BRL | -308.9M BRL | -268.6M BRL |
| Net cash provided by continuing operating activities | 5.4B BRL | 3.7B BRL | 3.8B BRL |
| Net cash provided by discontinued operating activities | 30.2M BRL | 0 BRL | 0 BRL |
| Net cash provided by operating activities | 5.5B BRL | 3.7B BRL | 3.8B BRL |
| Financial investments, net of redemptions | -1.5B BRL | -4.2B BRL | 74.0M BRL |
| Acquisition of property, plant and equipment and intangible assets | -2.0B BRL | -1.8B BRL | -1.3B BRL |
| Sale of investments and other assets | 429.3M BRL | 1.4B BRL | 512.8M BRL |
| Acquisition of investments and other assets | -937.5M BRL | -1.8B BRL | -324.1M BRL |
| Cash acquired in business combination | 1.2B BRL | 522.0K BRL | 3.1M BRL |
| Net cash consumed by continuing investing activities | -2.8B BRL | -6.4B BRL | -1.0B BRL |
| Net cash consumed by discontinued investing activities | -34.9M BRL | 0 BRL | 0 BRL |
| Net cash consumed by investing activities | -2.8B BRL | -6.4B BRL | -1.0B BRL |
| Proceeds | 8.7B BRL | 4.2B BRL | 2.9B BRL |
| Repayments | -5.1B BRL | -2.7B BRL | -3.1B BRL |
| Interest and derivatives (paid) or received | -1.9B BRL | -1.1B BRL | -1.3B BRL |
| Principal and interest paid | -480.7M BRL | -433.5M BRL | -359.1M BRL |
| Dividends paid | -2.2B BRL | -833.7M BRL | -400.0M BRL |
| Proceeds from financial liabilities of customers | 0 BRL | 0 BRL | 7.8M BRL |
| Payments of financial liabilities of customers | -123.1M BRL | -159.9M BRL | -197.9M BRL |
| Capital increase made by non-controlling shareholders and redemption of shares | -12.3M BRL | 13.5M BRL | 0 BRL |
| Repurchase of treasury shares | -267.0M BRL | -148.9M BRL | 0 BRL |
| Related parties | -43.5M BRL | -15.1M BRL | -31.2M BRL |
| Net cash consumed by continuing financing activities | -1.5B BRL | -1.2B BRL | -2.5B BRL |
| Net cash consumed by discontinued financing activities | -6.6M BRL | 0 BRL | 0 BRL |
| Net cash consumed by financing activities | -1.5B BRL | -1.2B BRL | -2.5B BRL |
| Effect of exchange rate changes on cash and cash equivalents in foreign currency - continuing operations | -45.0M BRL | 32.4M BRL | -30.0M BRL |
| Increase (decrease) in cash and cash equivalents - continuing operations | 1.1B BRL | -3.9B BRL | 303.9M BRL |
| Increase (decrease) in cash and cash equivalents - discontinued operations | -11.3M BRL | 0 BRL | 0 BRL |
| Addition and remeasurement on right-of-use assets and leases payable | 400.8M BRL | 342.3M BRL | 257.2M BRL |
| Addition on contractual assets with customers - exclusivity rights | 67.4M BRL | 5.6M BRL | 66.6M BRL |
| Reclassification between financial assets and investment in associates | 0 BRL | 645.3M BRL | 0 BRL |
| Issuance of shares related to the subscription warrants - indemnification - Extrafarma acquisition | 0 BRL | 6.5M BRL | 411.0K BRL |
| Acquisition of property, plant and equipment and intangible assets without cash effect | 23.5M BRL | 42.2M BRL | 104.2M BRL |
Founded by Ernesto Igel in 1937.1
Who has led Ultrapar, and when. Pick a name to see everywhere that person has worked.
Listed on Wikidata.1
From Wikidata.1
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
The numbers on this page point here. Each one links to the record it came from.