Ultrapar Holdings (UGP) Operating Expenses (2009 - 2026)
Ultrapar Holdings (UGP) posted quarterly Operating Expenses of -$124.6 million for Q1 2026, down 40.84% year-over-year from -$210.6 million in Q1 2025, and down 7.99% quarter-over-quarter from -$115.4 million in Q4 2025.
Ultrapar Holdings (UGP) Operating Expenses (2009 - 2026) Analysis & Trends
Ultrapar Holdings (UGP) has reported Operating Expenses for 18 consecutive years, with -$124.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 40.84% year-over-year to -$124.6 million; the TTM figure through Mar 2026 stood at -$440.3 million (up 47.71% YoY), while the FY2025 annual figure was $417.2 million, up 29.52% from the prior year.
- Operating Expenses slipped to -$124.6 million in Q1 2026 per UGP's latest filing, from -$115.4 million in the prior quarter.
- Across five years, Operating Expenses topped out at -$64.7 million in Q1 2022 and bottomed at -$326.0 million in Q4 2022.
- Historically, Operating Expenses has averaged -$145.6 million across 5 years, with a median of -$110.3 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses sank 4861705.82% — and 2023, when it jumped 66.17%.
- Ultrapar Holdings' Operating Expenses stood at -$326.0 million in 2022, then surged by 66.17% to -$110.3 million in 2023, then plunged by 192.06% to -$322.1 million in 2024, then jumped by 64.18% to -$115.4 million in 2025, then fell by 7.99% to -$124.6 million in 2026.
- Business Quant data shows UGP's Operating Expenses at -$124.6 million in Q1 2026, -$115.4 million in Q4 2025, and -$104.8 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marathon Petroleum | 96.19 Bn | 88.42 Bn | 9.27 Bn | 45.02 Bn |
| 2 | Valero Energy | 94.91 Bn | 87.04 Bn | 5.47 Bn | 233.00 Mn |
| 3 | Phillips 66 | 89.34 Bn | 85.25 Bn | 8.38 Bn | 47.07 Bn |
| 4 | HF Sinclair | 15.55 Bn | 13.29 Bn | 1.57 Bn | 9.22 Bn |
| 5 | Sunoco | 10.14 Bn | 9.36 Bn | 1.46 Bn | 13.68 Bn |
| 6 | PBF Energy | 8.18 Bn | 7.28 Bn | 1.15 Bn | 10.41 Bn |
| 7 | Cosan | 6.58 Bn | 1.47 Bn | 552.94 Mn | 803.77 Mn |
| 8 | Ultrapar Holdings | 6.35 Bn | 4.63 Bn | 603.08 Mn | -124.64 Mn |
| 9 | Icahn Enterprises | 5.05 Bn | 3.08 Bn | 198.00 Mn | 3.36 Bn |
| 10 | Delek US Holdings | 3.90 Bn | 3.27 Bn | 365.10 Mn | 3.78 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -124.59 Mn |
| Dec 31, 2025 | -115.37 Mn |
| Sep 30, 2025 | -104.80 Mn |
| Jun 30, 2025 | -95.56 Mn |
| Mar 31, 2025 | -88.46 Mn |
| Dec 31, 2024 | -322.12 Mn |
| Sep 30, 2024 | -247.93 Mn |
| Jun 30, 2024 | -183.54 Mn |
| Mar 31, 2024 | -89.18 Mn |
| Dec 31, 2023 | -110.29 Mn |
| Sep 30, 2023 | -112.50 Mn |
| Jun 30, 2023 | -94.74 Mn |
| Mar 31, 2023 | -87.42 Mn |
| Dec 31, 2022 | -326.00 Mn |
| Sep 30, 2022 | -216.65 Mn |
| Jun 30, 2022 | -91.60 Mn |
| Mar 31, 2022 | -64.71 Mn |
| Dec 31, 2021 | 44,820.38 |
| Sep 30, 2021 | 55,592.06 |
| Jun 30, 2021 | 1,884.07 |