# UGI Corporation (UGI)

> Source: Nexqual · https://nexqual.com/UGI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, UGI Corporation (UGI), nexqual.com/UGI" · informational, not investment advice.

**Price:** USD 38.61 (+0.13% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 38.56 · day 38.27–38.77 · 52w 31.65–41.34 · market cap $8.28B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.30B, net income $671M (9.2% margin), free cash flow $187M (SEC filings).
- Valuation: P/E 12.3x (avg 15.4x at the last 2 fiscal year-ends), EV/EBITDA 8.3x, net debt $6.22B.
- 2 of 80 tracked superinvestors hold UGI (13F, Q2 2026): 0 new, 0 added, 1 reduced, 1 unchanged.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 43.25 (range 42–46).
- Total return with dividends: 1Y +20.7% vs S&P 500 +14.9%; 5Y +10.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-18, EPS estimate USD -0.91, revenue estimate $1.39B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.45B | $10.1B | $8.93B | $7.21B | $7.29B | $7.30B |
| Operating income | $2.35B | $1.67B | -$1.44B | $770M | $1.11B | $1.18B |
| Net income | $1.47B | $1.07B | -$1.50B | $269M | $678M | $671M |
| EPS (diluted) | $6.92 | $4.97 | -$7.16 | $1.25 | $3.09 | — |
| Free cash flow | $791M | -$88.0M | $133M | $386M | $390M | $187M |
| Operating margin | 31.6% | 16.5% | -16.2% | 10.7% | 15.2% | 16.2% |
| Net margin | 19.7% | 10.6% | -16.8% | 3.7% | 9.3% | 9.2% |
| Revenue growth | +13.5% | +35.7% | -11.7% | -19.2% | +1.1% | — |
| Cash + short-term investments | $855M | $405M | $241M | $213M | $335M | — |
| Total debt | $6.45B | $6.63B | $6.60B | $6.68B | $6.65B | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.3x · P/S 1.1x · EV/EBITDA 8.3x · EV/Sales 2.0x · P/FCF 44.3x · P/B 1.6x · FCF yield 2.26% · Earnings yield 8.10% · Dividend yield (paid, TTM) 3.89% · Buyback yield (TTM) 0.47% · Net debt $6.22B · EV $14.5B
P/E at fiscal year-ends: Sep 2025 10.8x, Sep 2024 20.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold UGI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Miller | Miller Value Partners | 0.99% | $4.2M | Unchanged |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $394K | Reduced -2.4% |

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 43.25 (low 42, high 46).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Scotiabank | Initiated | Sector Outperform | $46 |
| 2026-09-09 | Jefferies | Upgrade | Hold → Buy | $40 → $43 |
| 2026-08-07 | Wells Fargo | Target lowered | Overweight | $45 → $42 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +20.7% | +10.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +20.8% | +2.0% |
| Volatility (annualized) | 24.3% | 28.9% |
| Max drawdown | -19.6% (Jan 2026→May 2026) | -51.8% (Jan 2022→Nov 2023) |

## Peers (Utilities - Regulated Gas)
SWX (Southwest Gas Holdings, Inc.) USD 91.08 +3.01% · BKH (Black Hills Corporation) USD 79.31 +0.97% · NJR (NewJersey Resources Corporation) USD 53.63 +2.94% · SR (Spire Inc.) USD 85.56 +3.70% · OGS (ONE Gas, Inc.) USD 78.25 +3.57% · BIPC (Brookfield Infrastructure Corpo) USD 37.63 +2.53%

## More
Full page: https://nexqual.com/UGI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.91 | $-0.33 | +179.0% | $1.39B | 3 |
| Next quarter (ends 2026-12-31) | $1.39 | $1.41 | -1.2% | $0 | 3 |
| Current fiscal year (ends 2026-09-30) | $2.80 | $2.81 | -0.5% | $7.34B | 4 |
| Next fiscal year (ends 2027-09-30) | $3.22 | $3.33 | -3.4% | $7.75B | 4 |