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UGI Corporation

UGI

Utilities · 37.99 -0.0% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

UGI Corporation's current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

What changed
  • The operating loss narrowed by 49.0M.
  • Revenue decreased 4.5% versus the comparable filing period.
Company-0.0% todayVolume comparison unavailable
Market group0 of 1 activeRegulated Gas Utilities · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
  • UGI's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if UGI's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Utilities · Utilities - Regulated Gas

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports
  • The operating loss narrowed by 49.0M.
Evidence that challenges
  • Revenue decreased 4.5% versus the comparable filing period.
What would clarify the read
  • UGI's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements268
Verified relationships4
Evidence supporting the case
  • Operating margin changed +4.6 percentage points in the latest annual period.
  • Net margin changed +5.7 percentage points in the latest annual period.
Evidence challenging the case
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Foreign exchange has repeated adverse evidence across 5 filings.
Questions before a position
  • P/E is 35% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 57% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

37.99
6m+3.1%12m+10.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-09-30$7.3B+13.9%$6.92+1.1%
2022-09-30$10.0B+35.8%$4.97+1.7%
2023-09-30$8.8B-12.2%$-7.16-2.8%
2024-09-30$7.0B-19.6%$1.25+2.6%
2025-09-30$7.1B+1.4%$3.09+1.8%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
Changes in cash flow from financing activities are primarily due to issuances and repayments of long-term debt; net short-term borrowings; dividends on UGI Common Stock; and issuances and repurchases of equity instruments.
10-Q · Aug 6, 2026
Energy and commodity pricesmixed · 5 filings
Midstream & Marketing cost of sales increased $144 during the 2026 nine-month period, primarily reflecting higher natural gas costs ($127) related to the previously mentioned natural gas marketing activities and higher cost of sales from renewable energy ($9).
10-Q · Aug 6, 2026
Foreign exchangemixed · 5 filings
This increase largely reflects the $16 increase in operating income, substantially offset by higher realized losses on foreign currency exchange contracts ($15) entered into in order to reduce volatility in UGI International earnings resulting from the effect…
10-Q · Aug 6, 2026
Legal and regulatory exposuremixed · 2 filings
The Company expects to recognize a gain upon closing, which is expected in the second quarter of Fiscal 2027, subject to customary closing conditions and applicable regulatory approvals.
10-Q · May 7, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.2× · EV/sales 2.0×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

37.99-0.0% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for UGI. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment

The latest filing shows material pressure

10-Q filed 2026-08-06 against the comparable filing from 2025-08-07.

cautious
OperationscautiousEvidence score -1
liquidityneutralEvidence score 0
valuationdiscount

Capital and cash conversion

Investment load increased

watch

Capital spending consumed more revenue while free-cash-flow margin declined.

Capital spending YoY
+6.6%
Capital spending / revenue
+10.1%
Free-cash-flow margin
+5.8%
FCF margin change
-3.3 pts

Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.

What improved

  • The operating loss narrowed by 49.0M.

What weakened

  • Revenue decreased 4.5% versus the comparable filing period.

Filing receipts

Changes in cash flow from financing activities are primarily due to issuances and repayments of long-term debt; net short-term borrowings; dividends on UGI Common Stock; and issuances and repurchases of equity instruments.

The increase was largely attributable to higher total margin, partially offset by higher operating and administrative expenses.

Net income attributable to UGI Corporation for the 2026 nine-month period also includes (1) a $41 net loss on disposals of certain non-core assets from our LPG business at UGI International; (2) a loss on extinguishments of debt of $11, primarily at AmeriGas Propane; and (3) restructuring costs of $4 largely attributable to a reduction in workforce and related costs.

Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.

Business ecosystem

The relationships behind UGI

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

UGI is currently a Leader in the organic co-movement group Regulated Gas Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

This group is retained as the last observed read for UGI; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.