“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 ↗
UGI Corporation
UGI
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.
- The operating loss narrowed by 49.0M.
- Revenue decreased 4.5% versus the comparable filing period.
- 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.
Research brief
The story so far
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.
- The operating loss narrowed by 49.0M.
- Revenue decreased 4.5% versus the comparable filing period.
- UGI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Operating margin changed +4.6 percentage points in the latest annual period.
- Net margin changed +5.7 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Foreign exchange has repeated adverse evidence across 5 filings.
- 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.
Price as of Sep 11, 2026
37.99Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“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 ↗
“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 ↗
“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.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
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.
Capital and cash conversion
Investment load increased
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.