Is the business good?
How good a business is UGI?
UGI Corporation earns 8.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.2%
Return on invested capital · cost of capital 9.0% · 0.85 points below what the capital costs: growth destroys value
- Operating margin
- 16%
Operating margin · Utilities - Regulated Gas median 22% · 12 months to Q3 2026
- Cash conversion
- 0.28×
Cash conversion · 1.06× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −0.06%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 15% |
| FY2021 | 32% |
| FY2022 | 16% |
| FY2023 | −16% |
| FY2024 | 11% |
| FY2025 | 15% |
Details›
- Gross margin12 months to Q3 2026
- 51%
- Operating margin12 months to Q3 2026
- 16%
- Net margin12 months to Q3 2026
- 9.2%
- Free cash flow margin
- 2.6%
- Revenue, trailing twelve months
- $7.30B
- Free cash flow, trailing twelve months
- $187M
- Net income, trailing twelve months
- $671M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Regulated Gas
Ranks #1 of 13 by Smart Score