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UGI

UGI NYSE Gas Utilities Financials FY2016–FY2025

UGI's revenue rose 1.1% to $7.3 billion in fiscal 2025. Its operating margin was 15.2%, up from 10.7% a year earlier. Free cash flow was $390 million, up 1.0%. It paid out $355 million in dividends and buybacks, 91% of free cash flow. The diluted share count rose 1.8%.

Last close · Oct 23, 2026

$38.49

0.3%
Value it Compare
Revenue Total sales reported in the income statement.
$7.3B
1.1% vs prior year
Operating margin Operating income as a share of revenue.
15.2%
4.5 pts
Net income Profit after all expenses, interest and tax.
$678M
152.0%
Free cash flow Cash from operations minus capital spending.
$390M
1.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.8%
4.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$8.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.9x
On $2.98 EPS (TTM)

What UGI does

No business description yet.

Legal name
UGI CORPORATION
Fiscal year ends
September 30, 2025
Latest annual report
—
Accession · CIK
0000884614-25-000053
0000884614

Revenue and margins

UGI had $7.3B of revenue in fiscal 2025, up 1.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 4.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $390M in fiscal 2025, 5.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

UGI returned $355M to shareholders in fiscal 2025, 91% of free cash flow. The diluted share count rose 1.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value UGI yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$6.4B and divides by 219.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 12.9x · peers 15.9x · sector 20.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably UGI can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $855M$405M$241M$213M$335M
Debt incl. finance leases $6.5B$6.7B$6.7B$6.7B$6.7B
Net debt / EBITDA 2.0x2.9x—4.9x3.8x
Debt / equity 1.2x1.1x1.5x1.6x1.4x
Interest coverage 7.6x5.1x−3.8x2.0x2.7x
Current ratio 1.4x1.6x0.9x0.8x0.9x
Quick ratio 1.2x1.3x0.7x0.6x0.7x
Total assets $16.7B$17.6B$15.4B$15.1B$15.5B
Total liabilities $11.2B$11.5B$11.0B$10.7B$10.7B
Shareholders' equity $5.5B$6.1B$4.4B$4.3B$4.8B
Net debt (− = net cash) $5.6B$6.3B$6.4B$6.5B$6.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$3.6M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 18, 2026 Kathleen Shea-BallayGC and Chief Legal Officer Sold 25,360 $33.62 $0.9M Form 4
Feb 11, 2026 Jean Felix TematioVP, CAO & Corporate Controller Sold 12,840 $38.07 $0.5M Form 4
Dec 17, 2025 Joseph L. HartzPresident of Subsidiary Sold 5,000 $38.45 $0.2M Form 4
Dec 5, 2025 Sean O'BrienChief Financial Officer Sold 28,709 $37.65 $1.1M Form 4
Nov 26, 2025 Hans G. BellPresident of Subsidiary Sold 11,300 $38.91 $0.4M Form 4
Nov 25, 2025 Joseph L. HartzPresident of Subsidiary Sold 15,000 $38.68 $0.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 3 / 84 / 87 / 8
Accruals ratio −15.8%−6.0%−3.6%
Altman Z'' 0.331.231.56

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
UGI UGI $8.3B 1.1% 15.2% 5.4% 9.8% 12.9x 7
Atmos Energy ATO $29.2B 12.9% 33.2% −32.2% 6.0% 20.5x 5 Compare →
Spire SR $5.0B −4.5% 21.2% −13.9% 5.2% 15.0x 5 Compare →
One Gas OGS $4.9B 16.5% 18.9% −5.3% 6.2% 16.8x 5 Compare →
National Fuel Gas NFG $7.7B 17.1% 35.7% 8.2% 10.6% 11.2x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $5.7B $6.1B $7.7B $7.3B $6.6B $7.4B $10.1B $8.9B $7.2B $7.3B
Operating income $988M $1.0B $1.1B $617M $982M $2.4B $1.7B −$1.4B $770M $1.1B
Interest expense $229M $224M $230M $258M $322M $310M $329M $379M $394M $411M
Pretax income $710M $701M $855M $401M $667M $2.0B $1.4B −$1.8B $340M $696M
Income tax $221M $178M $33.0M $93.0M $135M $522M $313M −$335M $71.0M $18.0M
Net income $365M $437M $719M $256M $532M $1.5B $1.1B −$1.5B $269M $678M
Diluted EPS $2.08 $2.46 $4.06 $1.41 $2.54 $6.92 $4.97 −$7.16 $1.25 $3.09
Diluted shares 0.18B 0.18B 0.18B 0.18B 0.21B 0.21B 0.22B 0.21B 0.22B 0.22B
Cash flow
Cash from operations $970M $964M $1.1B $1.1B $1.1B $1.5B $716M $1.1B $1.2B $1.2B
Capital expenditure $564M $639M $574M $705M $655M $690M $804M $974M $796M $837M
Free cash flow $406M $326M $511M $373M $447M $791M −$88.0M $133M $386M $390M
Depreciation and amortization $401M $416M $455M $448M $484M $502M $518M $532M $551M $561M
Stock-based compensation $23.8M $19.3M $23.0M $18.0M $15.0M $21.0M $15.0M $17.0M $8.0M $18.0M
Acquisitions $61.2M $101M $187M $1.4B $16.0M $397M $242M $9.0M $0.0M $0.0M
Share buybacks $47.6M $43.3M $60.0M $17.0M $38.0M $0.0M $38.0M $22.0M $0.0M $33.0M
Dividends paid $161M $169M $177M $200M $273M $282M $296M $308M $318M $322M
Dividends and buybacks $208M $212M $237M $217M $311M $282M $334M $330M $318M $355M
Balance sheet
Cash and short-term investments $503M $558M $452M $447M $336M $855M $405M $241M $213M $335M
Total debt $4.1B — $4.2B $5.8B $6.0B $6.4B $6.6B $6.6B $6.7B $6.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $46.0M $45.0M $45.0M $50.0M $55.0M $55.0M
Current assets $1.4B $1.7B $1.9B $1.6B $1.5B $3.3B $3.8B $2.0B $1.7B $1.8B
Current liabilities $1.4B $1.7B $1.7B $2.0B $1.8B $2.3B $2.4B $2.3B $2.1B $2.0B
Inventory $210M $279M $318M $230M $241M $469M $665M $433M $411M $385M
Property and equipment, net $5.2B $5.5B $5.8B $6.7B $7.0B $7.6B $8.0B $8.5B $8.8B $9.1B
Total assets $10.8B $11.6B $12.0B $13.3B $14.0B $16.7B $17.6B $15.4B $15.1B $15.5B
Total liabilities $7.3B $7.8B $7.9B $9.5B $9.8B $11.2B $11.5B $11.0B $10.7B $10.7B
Shareholders' equity $2.8B $3.2B $3.7B $3.8B $4.1B $5.5B $6.1B $4.4B $4.3B $4.8B
Margins
Operating margin 17.4% 16.5% 13.9% 8.4% 15.0% 31.6% 16.5% −16.2% 10.7% 15.2%
EBITDA margin 24.4% 23.3% 19.9% 14.6% 22.4% 38.3% 21.6% −10.2% 18.3% 22.9%
Net margin 6.4% 7.1% 9.4% 3.5% 8.1% 19.7% 10.6% −16.8% 3.7% 9.3%
FCF margin 7.1% 5.3% 6.7% 5.1% 6.8% 10.6% −0.9% 1.5% 5.4% 5.4%
Returns
Return on capital 9.6% — — 5.6% 8.2% 16.5% 11.0% −9.9% 5.6% 9.8%
Return on capital employed 10.8% 10.5% 10.6% 5.7% 8.3% 17.6% 11.3% −10.2% 5.9% 8.4%
Return on equity 13.2% 14.5% 21.0% 6.8% 13.4% 30.4% 18.5% −28.7% 6.2% 14.9%
Return on assets 3.4% 3.9% 6.1% 2.0% 3.9% 9.6% 6.3% −9.1% 1.8% 4.4%
Growth
Revenue growth −15.0% 7.7% 25.0% −4.3% −10.4% 13.5% 35.7% −11.7% −19.2% 1.1%
Net income growth 29.8% 19.7% 64.7% −64.4% 107.8% 175.8% −26.9% −240.0% — 152.0%
EPS growth 30.0% 18.3% 65.0% −65.3% 80.1% 172.4% −28.2% −244.1% — 147.2%
FCF growth −39.7% −19.8% 57.0% −27.0% 19.8% 77.0% −111.1% — 190.2% 1.0%
Share count change −0.1% 0.9% −0.1% 2.4% 15.9% 1.1% 1.7% −2.8% 2.6% 1.8%
Financial health
Net debt / EBITDA 2.6x — 2.4x 5.0x 3.9x 2.0x 2.9x — 4.9x 3.8x
Debt / equity 1.4x — 1.1x 1.5x 1.5x 1.2x 1.1x 1.5x 1.6x 1.4x
Interest coverage 4.3x 4.5x 4.6x 2.4x 3.1x 7.6x 5.1x −3.8x 2.0x 2.7x
Current ratio 1.0x 1.0x 1.1x 0.8x 0.9x 1.4x 1.6x 0.9x 0.8x 0.9x
Quick ratio 0.8x 0.8x 0.9x 0.7x 0.7x 1.2x 1.3x 0.7x 0.6x 0.7x
Capital allocation
Capex / revenue 9.9% 10.4% 7.5% 9.6% 10.0% 9.3% 8.0% 10.9% 11.0% 11.5%
Stock comp / revenue 0.4% 0.3% 0.3% 0.3% 0.2% 0.3% 0.2% 0.2% 0.1% 0.3%
Payouts / FCF 51.3% 65.2% 46.4% 58.2% 69.6% 35.7% — 248.1% 82.4% 91.0%
Quality scores
Piotroski F-score 6.0 — — 3.0 6.0 7.0 5.0 3.0 4.0 7.0
Altman Z'' 1.7 1.7 1.9 1.2 1.5 2.6 2.6 0.3 1.2 1.6
Accruals ratio −5.7% −4.7% −3.1% −6.5% −4.2% −0.1% 2.1% −15.8% −6.0% −3.6%

Source: SEC EDGAR XBRL filings (CIK 0000884614). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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