WallStSmart

Icahn Enterprises LP (IEP)vsUltrapar Participacoes SA ADR (UGP)

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Smart Verdict

WallStSmart Research — data-driven comparison

Ultrapar Participacoes SA ADR generates 1413% more annual revenue ($142.37B vs $9.41B). UGP leads profitability with a 1.7% profit margin vs -3.1%. UGP appears more attractively valued with a PEG of 0.78. IEP earns a higher WallStSmart Score of 57/100 (C).

IEP

Buy

57

out of 100

Grade: C

Growth: 6.0Profit: 3.0Value: 7.0Quality: 6.5
Piotroski: 5/9

UGP

Buy

53

out of 100

Grade: C-

Growth: 3.3Profit: 5.5Value: 7.0Quality: 6.3
Piotroski: 3/9Altman Z: 4.76
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

IEPUndervalued (+55.4%)

Margin of Safety

+55.4%

Fair Value

$18.45

Current Price

$8.35

$10.10 discount

UndervaluedFair: $18.45Overvalued

Intrinsic value data unavailable for UGP.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IEP2 strengths · Avg: 9.0/10
EPS GrowthGrowth
960.0%10/10

Earnings expanding 960.0% YoY

Price/BookValuation
2.0x8/10

Reasonable price relative to book value

UGP5 strengths · Avg: 8.4/10
Altman Z-ScoreHealth
4.7610/10

Safe zone — low bankruptcy risk

PEG RatioValuation
0.788/10

Growing faster than its price suggests

P/E RatioValuation
12.3x8/10

Attractively priced relative to earnings

Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Free Cash FlowQuality
$1.06B8/10

Generating 1.1B in free cash flow

Areas to Watch

IEP3 concerns · Avg: 1.7/10
Return on EquityProfitability
-8.1%2/10

ROE of -8.1% — below average capital efficiency

Free Cash FlowQuality
$-496.00M2/10

Negative free cash flow — burning cash

Profit MarginProfitability
-3.1%1/10

Currently unprofitable

UGP4 concerns · Avg: 2.8/10
Profit MarginProfitability
1.7%3/10

1.7% margin — thin

Operating MarginProfitability
3.1%3/10

Operating margin of 3.1%

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPS GrowthGrowth
-59.5%2/10

Earnings declined 59.5%

Comparative Analysis Report

WallStSmart Research

Bull Case : IEP

The strongest argument for IEP centers on EPS Growth, Price/Book. PEG of 1.15 suggests the stock is reasonably priced for its growth.

Bull Case : UGP

The strongest argument for UGP centers on Altman Z-Score, PEG Ratio, P/E Ratio. PEG of 0.78 suggests the stock is reasonably priced for its growth.

Bear Case : IEP

The primary concerns for IEP are Return on Equity, Free Cash Flow, Profit Margin.

Bear Case : UGP

The primary concerns for UGP are Profit Margin, Operating Margin, Piotroski F-Score. Thin 1.7% margins leave little buffer for downturns.

Key Dynamics to Monitor

IEP profiles as a turnaround stock while UGP is a value play — different risk/reward profiles.

IEP carries more volatility with a beta of 0.78 — expect wider price swings.

UGP is growing revenue faster at 7.2% — sustainability is the question.

UGP generates stronger free cash flow (1.1B), providing more financial flexibility.

Bottom Line

IEP scores higher overall (57/100 vs 53/100). Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Icahn Enterprises LP

ENERGY · OIL & GAS REFINING & MARKETING · USA

Icahn Enterprises LP, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion and pharmaceutical businesses in the United States and internationally. The company is headquartered in Sunny Isles Beach, Florida.

Ultrapar Participacoes SA ADR

ENERGY · OIL & GAS REFINING & MARKETING · USA

Ultrapar Participaes SA is engaged in the gas distribution, fuel distribution, chemical products, storage and pharmacy businesses mainly in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe and internationally. The company is headquartered in So Paulo, Brazil.

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