Delek US Holdings, Inc. (DK) vs Ultrapar Participacoes S.A. (UGP)

Delek US Holdings, Inc. and Ultrapar Participacoes S.A. are both Oil & Gas Refining & Marketing companies. Ultrapar Participacoes S.A. is the larger, with a market value of $6.2B against $4.5B — 1.4× the size. Ultrapar Participacoes S.A. trades at the lower P/E: 9.0× against 19.1×. Ultrapar Participacoes S.A. grew revenue faster over the last twelve months: 20.2% against 11.4%. Ultrapar Participacoes S.A. has the higher net margin (2.29% vs 1.86%) and the higher return on invested capital (15.3% vs 12.2%). Both pay a dividend; Ultrapar Participacoes S.A. yields more (6.60% vs 1.45%). Across the 23 metrics below, Ultrapar Participacoes S.A. leads on 20 and Delek US Holdings, Inc. on 3.

Valuation

Metric DK UGP Oil & Gas Refining & Marketing median
P/E 19.11 9.03 11.95
P/S 0.36 0.21 0.36
P/B 10.20 1.54 1.67
Price to free cash flow 6.41 4.15 8.06
EV/EBITDA 6.84 4.28 6.84
EV/Sales 0.57 0.28 0.55
Earnings yield 5.23% 11.07% 6.59%
Free cash flow yield 15.59% 24.10% 11.61%

Profitability

Metric DK UGP Oil & Gas Refining & Marketing median
Gross margin 7.12% 8.44% 14.49%
Operating margin 4.84% 4.95% 7.14%
Net margin 1.86% 2.29% 2.29%
Free cash flow margin 5.58% 5.52% 4.55%
Return on equity 62.57% 18.40% 14.90%
Return on assets 3.07% 7.25% 5.52%
Return on invested capital 12.22% 15.25% 13.76%

Growth

Metric DK UGP Oil & Gas Refining & Marketing median
Revenue growth (TTM) 11.40% 20.23% 19.06%
EPS growth (last fiscal year) 95.67% 2.90% 37.92%
Revenue growth, 5-year CAGR 7.99% 10.10% 13.17%
Net income growth, 5-year CAGR 0.00% 20.45% 0.00%

Health

Metric DK UGP Oil & Gas Refining & Marketing median
Debt to equity 7.55 0.96 0.48
Current ratio 0.76 1.64 1.32
Net debt to EBITDA 3.73 2.02 2.07

Dividend

Metric DK UGP Oil & Gas Refining & Marketing median
Dividend yield 1.45% 6.60% 2.31%
Payout ratio 0.29 0.62 0.35

Size

Metric DK UGP Oil & Gas Refining & Marketing median
Market cap 4.50b 6.22b 4.16b

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