UGI
UGI Corporation
UGI's fundamentals are strong: its operating margin rose 5 points to 16% and earnings per share grew 55%, though free cash flow fell 58%. At 13x earnings, it's trading right at its usual valuation. Analysts expect strong earnings growth.
UGI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Under pressure | |
| Under pressure |
UGI's profitability is currently strong, and its revenue is stable, but its cash flow and balance sheet are under pressure.
UGI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.4x | $21.93 | -41% |
| Forward | 9.8x | $37.47 | — |
| Fair | 13x | $38.08 | +1.6% |
| Current | 13x | $37.47 | — |
| Expensive | 18x | $52.54 | +40% |
Historical ranges are pointers, not guarantees.
UGI's PE is in its fair range at 13x. If earnings grow as analysts expect, today's price would be 9.8x next year's earnings, in its cheap range.
UGI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect UGI's earnings to grow and its profitability to improve, with its revenue holding steady.
UGI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.82 | +29% |
| Q2 2026 | $2.97 | +55% |
| Q1 2026 | $2.83 | +16% |
| Q4 2025 | $2.69 | +5.5% |
| Q3 2025 | $3.09 | +147% |
| Q2 2025 | $1.91 | -39% |
| Q1 2025 | $2.44 | +$2.83 |
| Q4 2024 | $2.55 | +$4.73 |
| Q3 2024 | $1.25 | +$8.41 |
UGI's earnings per share have fallen from their peak: $2.97 over the past year, against $7.01 in early 2022.
UGI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.3B | -4.5% |
| Q1 2026 | $2.7B | +0.7% |
| Q4 2025 | $2.1B | +2.6% |
| Q3 2025 | $1.2B | -3.6% |
| Q2 2025 | $1.4B | +1% |
| Q1 2025 | $2.7B | +8.1% |
| Q4 2024 | $2B | -4.3% |
| Q3 2024 | $1.2B | -12% |
UGI's revenue fell from its 2022 peak and has held roughly level since: $1.3B last quarter, down 4.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -3.3% | +3.4 points |
| Q1 2026 | 28% | +2 points |
| Q4 2025 | 22% | -2.2 points |
| Q3 2025 | 1.1% | +21 points |
| Q2 2025 | -6.7% | -12 points |
| Q1 2025 | 26% | -2.8 points |
| Q4 2024 | 24% | +13 points |
| Q3 2024 | -20% | -37 points |
UGI's operating margin was −3.3% last quarter, up 3.4 points from the same quarter a year ago.
UGI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $16M | -76% |
| Q1 2026 | $494M | -8.2% |
| Q4 2025 | -$155M | -$108M |
| Q3 2025 | -$168M | -$53M |
| Q2 2025 | $67M | -64% |
| Q1 2025 | $538M | +52% |
| Q4 2024 | -$47M | -$10M |
| Q3 2024 | -$115M | -$61M |
UGI still generates free cash flow, though less than at its 2022 peak: $187M over the past year.
UGI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.6% | -8M shares |
| 1 year | -0.1% | -123K shares |
| 3 years | +2.4% | +5M shares |
| 5 years | +1.8% | +3.8M shares |
| Available history | +13% | +24.8M shares |
UGI has 215M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $11M |
| Q4 2025 | $12M |
| Q3 2025 | $16M |
| Q2 2025 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
UGI spent $39M buying back its own shares over the past year.
UGI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.6x | Elevated |
| Q1 2026 | 3.7x | Elevated |
| Q4 2025 | 4.0x | Elevated |
| Q3 2025 | 3.8x | Elevated |
| Q2 2025 | 4.5x | High |
| Q1 2025 | 4.0x | Elevated |
| Q4 2024 | 4.2x | High |
| Q3 2024 | 4.9x | High |
UGI's net debt is about 3.6 years of its operating earnings (EBITDA), down from 4.5 years a year ago.
UGI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.5 | Neutral |
| Stochastic | 64.8 | Neutral |
UGI's weekly RSI is 52 (neutral) and its Stochastic is 65 (neutral).
UGI PE vs Utilities Sector
| Metric | UGI | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 20x | 38% below |
| PE % | 47 | 44 | 3 pts above |
UGI is trading at 13x earnings, a 38% discount to the Utilities sector's median of 20x.
UGI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.6 | 0.4% below |
| 20 week MA | $37.0 | 1.2% above |
| 50 week MA | $36.8 | 1.8% above |
| 100 week MA | $35.2 | 6.4% above |
| 200 week MA | $30.8 | 22% above |
UGI's trend is up, with a small recent dip: it's below only its 8-week average, and 22% above its 200-week average.
UGI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.7 | $35.0 | -22% |
| 2021 | $35.0 | $45.5 | +30% |
| 2022 | $45.5 | $37.3 | -18% |
| 2023 | $37.3 | $24.6 | -34% |
| 2024 | $24.6 | $28.0 | +14% |
| 2025 | $28.0 | $38.1 | +36% |
| 2026 YTD | $38.1 | $37.5 | -1.7% |
UGI has finished lower in three of the last six years. It's down 1.7% so far in 2026.