Par Pacific Holdings, Inc. (PARR) vs Ultrapar Participacoes S.A. (UGP)

Par Pacific 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 $3.8B — 1.6× the size. Par Pacific Holdings, Inc. trades at the lower P/E: 4.1× against 9.0×. Ultrapar Participacoes S.A. grew revenue faster over the last twelve months: 20.2% against 13.2%. Par Pacific Holdings, Inc. has the higher net margin (9.94% vs 2.29%) and the higher return on invested capital (28.4% vs 15.3%). Across the 22 metrics below, Par Pacific Holdings, Inc. leads on 14 and Ultrapar Participacoes S.A. on 8.

Valuation

Metric PARR UGP Oil & Gas Refining & Marketing median
P/E 4.10 9.03 11.95
P/S 0.40 0.21 0.36
P/B 1.76 1.54 1.67
Price to free cash flow 8.38 4.15 8.06
EV/EBITDA 3.11 4.28 6.84
EV/Sales 0.47 0.28 0.55
Earnings yield 24.36% 11.07% 6.59%
Free cash flow yield 11.93% 24.10% 11.61%

Profitability

Metric PARR UGP Oil & Gas Refining & Marketing median
Gross margin 23.06% 8.44% 14.49%
Operating margin 13.43% 4.95% 7.14%
Net margin 9.94% 2.29% 2.29%
Free cash flow margin 4.83% 5.52% 4.55%
Return on equity 54.74% 18.40% 14.90%
Return on assets 20.33% 7.25% 5.52%
Return on invested capital 28.42% 15.25% 13.76%

Growth

Metric PARR UGP Oil & Gas Refining & Marketing median
Revenue growth (TTM) 13.19% 20.23% 19.06%
EPS growth (last fiscal year) 1,313.56% 2.90% 37.92%
Revenue growth, 5-year CAGR 19.02% 10.10% 13.17%
Net income growth, 5-year CAGR 0.00% 20.45% 0.00%

Health

Metric PARR UGP Oil & Gas Refining & Marketing median
Debt to equity 0.38 0.96 0.48
Current ratio 1.84 1.64 1.32
Net debt to EBITDA 0.95 2.02 2.07

Dividend

Metric PARR UGP Oil & Gas Refining & Marketing median
Dividend yield — 6.60% 2.31%
Payout ratio — 0.62 0.35

Size

Metric PARR UGP Oil & Gas Refining & Marketing median
Market cap 3.82b 6.22b 4.16b

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