UGI Corporation (UGI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	-$0.13	-$0.2	-53.8%	—	$1.3B	—
Q2 26	$2.11	$2.09	-0.9%	—	$2.7B	—
Q1 26	$1.26	$1.26	0.0%	—	$2.1B	—
Q4 25	-$0.41	-$0.23	+43.9%	—	$1.2B	—
Q3 25	-$0.09	-$0.01	+88.9%	—	—	—
Q2 25	$1.81	$2.21	+22.1%	—	—	—
Q1 25	$1.19	$1.37	+15.1%	—	—	—
Q4 24	-$0.29	-$0.17	+41.4%	—	—	—
Q3 24	-$0.06	$0.06	+200.0%	—	—	—
Q2 24	$1.64	$1.97	+20.1%	—	—	—
Q1 24	$1.03	$1.2	+16.5%	—	—	—
Q4 23	-$0.06	$0.03	+150.0%	—	—	—
Q3 23	$1.78	$1.68	-5.6%	—	—	—
Q2 23	$0.95	$1.14	+20.0%	—	—	—
Q1 23	$0.12	$0.06	-50.0%	—	—	—
Q4 22	$1.85	$1.91	+3.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.15	—	—	$7.3B	—
FY24	—	$1.27	—	—	$7.2B	—
FY23	—	-$7.16	—	—	$8.9B	—
FY22	—	$5.11	—	—	$10.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$5.7B	$6.1B	$7.7B	$7.3B	$6.6B	$7.4B	$10.1B	$8.9B	$7.2B	$7.3B
YoY change	-15%	+7.65%	+25%	-4.33%	-10.4%	+13.5%	+35.7%	-11.7%	-19.2%	+1.07%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	5.7B	6.1B	7.7B	7.3B	6.6B	7.4B	10.1B	8.9B	7.2B	7.3B
Cost of revenue	2.4B	2.8B	4.1B	4.3B	3.1B	2.6B	6B	6.9B	3.5B	3.7B
Gross profit	3.2B	3.3B	3.6B	3B	3.4B	4.8B	4.1B	2B	3.7B	3.6B
Gross margin	57.1%	53.6%	46.7%	40.9%	52%	64.9%	40.9%	22.3%	51.1%	49.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.9B	1.9B	2B	2B	1.9B	2B	2B	2.2B	2.1B	2B
Operating expenses	1.9B	1.9B	2B	2B	1.9B	4B	2B	2.1B	2.1B	2B
Operating income	969.3M	1B	1.1B	591M	1B	2.3B	1.6B	-658M	1B	1.1B
Operating margin	17%	16.5%	14.6%	8.07%	15.6%	31.1%	16%	-7.37%	14%	15%
Non-operating income, net	-45.8M	-100M	-50M	45M	-42M	-35M	78M	-823M	-302M	-11M
Pretax income	710M	701.4M	855M	401M	667M	2B	1.4B	-1.8B	340M	696M
Income tax	221.2M	177.6M	33M	93M	135M	522M	313M	-335M	71M	18M
Net income	488.8M	523.8M	822M	308M	532M	1.5B	1.1B	-1.5B	269M	678M
Net margin	8.6%	8.56%	10.7%	4.21%	8.11%	19.7%	10.6%	-16.8%	3.73%	9.3%
EBITDA	1.4B	1.4B	1.6B	1.1B	1.5B	2.8B	2.1B	-92M	1.6B	1.7B
EPS	2.11	2.51	4.13	1.44	2.55	7.02	5.11	-7.16	1.27	3.15
Diluted EPS	2.08	2.46	4.06	1.41	2.54	6.92	4.97	-7.16	1.25	3.09

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	1.2B	2.1B	2.7B	1.3B
Cost of revenue	—	—	—	—	—	—	—	—	593M	1B	1.2B	758M
Gross profit	—	—	—	—	—	—	—	—	604M	1.1B	1.5B	573M
Gross margin	—	—	—	—	—	—	—	—	50.5%	51.4%	55.8%	43.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	520M	559M	—
Operating expenses	—	—	—	—	—	—	—	—	-1.5B	504M	540M	472M
Operating income	—	—	—	—	—	—	—	—	-57M	427M	820M	-37M
Operating margin	—	—	—	—	—	—	—	—	-4.76%	20.5%	30.5%	-2.78%
Non-operating income, net	80M	-40M	12M	-89M	-185M	32M	-4M	-88M	49M	35M	-49M	-15M
Pretax income	—	—	—	—	—	—	—	—	-87M	351M	660M	-161M
Income tax	—	—	—	—	—	—	—	—	-74M	54M	140M	-28M
Net income	—	—	—	—	—	—	—	—	-13M	297M	520M	-133M
Net margin	—	—	—	—	—	—	—	—	-1.09%	14.3%	19.4%	-9.99%
EBITDA	—	—	—	—	—	—	—	—	123M	575M	971M	108M
EPS	0.62	0.45	2.36	-0.23	-1.27	1.74	2.23	-0.76	-0.06	1.38	2.42	-0.62
Diluted EPS	0.61	0.44	2.3	-0.23	-1.27	1.74	2.19	-0.76	-0.06	1.34	2.33	-0.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.8B	8.1B	9.6B	9B	—	8.9B	6.8B	4.8B	5.3B	7.1B	7.8B
Enterprise value	11.4B	12.1B	13.8B	15.1B	—	14.9B	13.4B	11.8B	12.2B	13.9B	14.4B
Shares outstanding	173.2M	173.7M	173.9M	178.4M	208.9M	209.1M	209.9M	209.8M	211.3M	214.9M	214.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	16	15.5	11.7	29.1	—	6.07	6.32	—	19.7	10.5	12
P/S	1.38	1.33	1.26	1.23	—	1.2	0.67	0.54	0.73	0.98	1.07
P/B	2.18	2.18	2.35	2.34	—	1.61	1.12	1.1	1.21	1.49	1.43
EV/EBITDA	8.24	8.56	8.65	14.1	—	5.36	6.23	-128.6	7.76	8.25	8.28
EV/Sales	2.01	1.98	1.8	2.07	—	2	1.32	1.33	1.69	1.91	1.98
Earnings yield	6.24%	6.44%	8.52%	3.43%	—	16.5%	15.8%	—	5.09%	9.48%	8.31%
FCF yield	5.18%	4%	5.3%	4.16%	—	8.88%	-1.3%	2.76%	7.3%	5.46%	-3.04%
PEG	—	—	—	—	—	—	—	—	—	—	-0.65

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	57.1%	53.6%	46.7%	40.9%	52%	64.9%	40.9%	22.3%	51.1%	49.9%	43.1%
Operating margin	17%	16.5%	14.6%	8.07%	15.6%	31.1%	16%	-7.37%	14%	15%	-2.48%
Net margin	8.6%	8.56%	10.7%	4.21%	8.11%	19.7%	10.6%	-16.8%	3.73%	9.3%	9.2%
ROE	13.6%	14%	20%	8.05%	12.9%	26.5%	17.7%	-34.2%	6.18%	14.2%	13.3%
ROA	4.51%	4.52%	6.86%	2.31%	3.8%	8.77%	6.11%	-9.75%	1.78%	4.38%	4.75%
ROIC	9.29%	9.78%	13%	4.55%	7.99%	14.9%	9.9%	-5.77%	7.07%	9.17%	8.6%
Return on tangible assets	13.2%	12.6%	17.7%	6.14%	9.51%	18.3%	11.5%	-17.8%	3.14%	7.45%	7.07%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.99	1	1.09	0.77	0.88	1.42	1.56	0.9	0.8	0.89	1.44
Quick ratio	0.84	0.84	0.91	0.66	0.74	1.22	1.28	0.71	0.6	0.7	1.22
Debt / equity	1.14	1.21	1.12	1.72	1.54	1.23	1.15	1.65	1.64	1.49	1.35
Debt / assets	0.38	0.39	0.38	0.49	0.46	0.41	0.4	0.47	0.47	0.46	0.45
Net debt / EBITDA	2.59	2.81	2.6	5.74	3.92	2.15	3.07	-76.2	4.4	4.02	3.7
Interest coverage	4.1	4.14	4.72	2.55	3.07	7.42	5.22	-3.85	1.86	2.69	2.75
Effective tax rate	31.2%	25.3%	3.86%	23.2%	20.2%	26.2%	22.6%	0%	20.9%	2.59%	12.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	32.8	35.2	44	41	31.4	35.6	48.1	42.6	34.1	33.9	34
EPS (basic)	2.11	2.51	4.13	1.44	2.55	7.02	5.11	-7.16	1.27	3.15	3.15
EPS (diluted)	2.08	2.46	4.06	1.41	2.54	6.92	4.97	-7.16	1.25	3.09	3.01
Book value per share	20.8	21.5	23.6	21.4	19.8	26.5	28.9	20.9	20.6	22.3	25.3
FCF per share	2.34	1.87	2.94	2.09	2.14	3.78	-0.42	0.63	1.83	1.81	0.87
Cash per share	2.9	3.22	2.6	2.51	1.61	4.09	1.93	1.15	1.01	1.56	2.22
Capex per share	3.26	3.68	3.3	3.95	3.14	—	—	—	—	3.89	4.08

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	9.92%	10.4%	7.5%	9.63%	9.99%	—	—	—	—	11.5%	12%
Capex / operating cash flow	56.9%	67.3%	51.9%	88.2%	58.3%	—	—	—	—	68.2%	82.4%
Payout ratio	85.5%	82.2%	53.5%	150.3%	51.3%	19.2%	27.6%	-20.5%	118.2%	47.5%	49.8%
Dividend yield	5.34%	5.29%	4.56%	5.16%	—	3.16%	4.36%	6.38%	6.01%	4.5%	4.15%

Yield

4.15%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.375

ex-dividend Sep 15, 2026

Payout ratio

50%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.375
Jun 15, 2026	$0.375
Mar 16, 2026	$0.375

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	$1.2B	$2.1B	$2.7B	$1.3B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	502.8M	558.4M	452.6M	447M	336M	855M	405M	241M	213M	335M
Receivables	551.6M	626.8M	751.9M	641M	652M	880M	1.1B	878M	709M	714M
Inventory	210.3M	278.6M	318.2M	230M	241M	469M	665M	433M	411M	385M
Total current assets	1.4B	1.7B	1.9B	1.6B	1.5B	3.3B	3.8B	2B	1.7B	1.8B
Property, plant & equipment	2.3B	2.4B	2.3B	2.8B	2.8B	2.6B	2.6B	2.6B	2.3B	2.2B
Goodwill & intangibles	7.1B	7.4B	7.3B	8.3B	8.4B	8.7B	8.2B	6.9B	6.5B	6.4B
Total assets	10.8B	11.6B	12B	13.3B	14B	16.7B	17.6B	15.4B	15.1B	15.5B
Accounts payable	391.2M	439.6M	561.8M	439M	475M	837M	891M	613M	544M	511M
Short-term debt	321.2M	544.4M	443.7M	820M	400M	477M	517M	706M	700M	603M
Total current liabilities	1.4B	1.7B	1.7B	2B	1.8B	2.3B	2.4B	2.3B	2.1B	2B
Long-term debt	3.8B	4B	4.1B	5.8B	6B	6.3B	6.5B	6.5B	6.4B	6.5B
Total liabilities	7.3B	7.8B	7.9B	9.5B	9.8B	11.2B	11.5B	11B	10.7B	10.7B
Shareholders' equity	3.6B	3.7B	4.1B	3.8B	4.1B	5.5B	6.1B	4.4B	4.4B	4.8B
Total debt	4.1B	4.5B	4.6B	6.6B	6.4B	6.8B	7B	7.2B	7.1B	7.1B
Net debt	3.6B	4B	4.1B	6.2B	6B	6B	6.6B	7B	6.9B	6.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	—	—	—	—	—	—	—	—	335M	251M	494M	476M
Receivables	—	—	—	—	—	—	—	—	714M	1.1B	1.2B	768M
Inventory	433M	441M	375M	379M	411M	381M	341M	359M	385M	392M	319M	352M
Total current assets	—	—	—	—	—	—	—	—	1.8B	2.1B	2.5B	2.3B
Property, plant & equipment	—	—	—	—	—	—	—	—	2.2B	-5.3B	-5.3B	-5.3B
Goodwill & intangibles	—	—	—	—	—	—	—	—	6.4B	6.3B	6.2B	6.1B
Total assets	—	—	—	—	—	—	—	—	15.5B	15.8B	16.1B	15.6B
Accounts payable	—	—	—	—	—	—	—	—	511M	631M	578M	433M
Short-term debt	—	—	—	—	—	—	—	—	603M	1.2B	1.1B	354M
Total current liabilities	—	—	—	—	—	—	—	—	2B	2.7B	2.5B	1.6B
Long-term debt	—	—	—	—	—	—	—	—	6.5B	6B	6B	6.7B
Total liabilities	—	—	—	—	—	—	—	—	10.7B	10.8B	10.7B	10.4B
Shareholders' equity	—	—	—	—	—	—	—	—	4.8B	5B	5.4B	5.2B
Total debt	—	—	—	—	—	—	—	—	7.1B	7.2B	7B	7B
Net debt	—	—	—	—	—	—	—	—	6.8B	7B	6.5B	6.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	488.8M	523.8M	822M	308M	532M	1.5B	1.1B	-1.5B	269M	678M
Depreciation & amortization	400.9M	416.3M	455M	448M	484M	502M	518M	532M	551M	561M
Stock-based compensation	23.8M	19.3M	23M	18M	15M	21M	15M	17M	8M	18M
Change in working capital	43.1M	-168.6M	-135M	94M	-96M	-191M	-544M	269M	-24M	-25M
Operating cash flow	990.7M	949.3M	1.1B	799M	1.1B	2.8B	1.3B	-1.5B	827M	1.2B
Capital expenditure	-563.8M	-638.9M	-574M	-705M	-655M	—	—	—	—	-837M
Investing cash flow	-558.6M	-768.7M	-749M	-2.1B	-649M	-384M	-208M	-103M	4M	-699M
Dividends paid	-418M	-430.5M	-440M	-463M	-273M	-282M	-296M	-308M	-318M	-322M
Share repurchases	-47.6M	-43.3M	-60M	-17M	-38M	0	-38M	-22M	0	-33M
Financing cash flow	-275.1M	-146.6M	-438M	1B	-1.1B	131M	-51M	-168M	-506M	-406M
Net change in cash	157M	34M	-80M	-214M	-609M	2.5B	1B	-1.8B	325M	122M
Free cash flow	405.9M	325.5M	511M	373M	447M	791M	-88M	133M	386M	390M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	131M	94M	496M	-48M	-273M	375M	479M	-163M	-13M	297M	520M	-133M
Depreciation & amortization	135M	137M	138M	139M	137M	138M	138M	140M	145M	140M	138M	138M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	132M	-222M	-154M	233M	119M	-310M	-31M	236M	80M	-367M	-59M	174M
Operating cash flow	472M	-59M	595M	320M	-36M	252M	670M	289M	90M	66M	664M	242M
Capital expenditure	—	—	—	—	—	—	—	-222M	-258M	-221M	-170M	-226M
Investing cash flow	-15M	-9M	-19M	26M	25M	-21M	7M	-128M	-200M	-145M	-250M	-74M
Dividends paid	-78M	-79M	-78M	-81M	-80M	-81M	-80M	-80M	-81M	-81M	-80M	-80M
Share repurchases	0	0	0	0	0	—	-17M	0	-16M	-12M	-11M	0
Financing cash flow	76M	-157M	-484M	33M	102M	55M	-371M	-189M	99M	-51M	-437M	162M
Net change in cash	533M	-225M	92M	379M	91M	286M	306M	-28M	-11M	-130M	-23M	330M
Free cash flow	-54M	-37M	353M	185M	-115M	-47M	538M	67M	-168M	-155M	494M	16M

Date	Ratio
Sep 8, 2014	3:2
May 25, 2005	2:1
Apr 2, 2003	3:2
Jul 2, 1990	2:1

UGI Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history