UGI Corporation (UGI) Balance Sheet
UGI balance sheet, FY2025
September 30, 2025 · U.S. dollars$15.46B assets = $10.68B liabilities + $4.79B equity
Both columns are drawn to the same scale: what UGI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
UGI financial health
Current ratio0.89
Tight · current assets cover current liabilities 0.89×
Debt / equity1.58
High leverage · $1.58 of debt for each $1 of equity
Equity / assets30.9%
Balanced · of assets funded by shareholders
Cash / debt4.7%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles20.6%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
UGI balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $10.85BFY2016 | $15.46BFY2025 | +4.0%/yr | |
| Total liabilities | $7.25BFY2016 | $10.68BFY2025 | +4.4%/yr | |
| Shareholders’ equity | $2.84BFY2016 | $4.78BFY2025 | +5.9%/yr | |
| Cash & short-term investments | $502.8MFY2016 | $355.0MFY2025 | −3.8%/yr | |
| Total debt | $4.09BFY2016 | $7.56BFY2025 | +7.1%/yr | |
| Net cash (debt) | −$3.58BFY2016 | −$7.21BFY2025 | −$3.6B | |
| Working capital | −$18.2MFY2016 | −$215.0MFY2025 | −$196.8M | |
| Book value per share | $16.20FY2016 | $21.80FY2025 | +3.4%/yr | |
| Current ratio | 0.99FY2016 | 0.89FY2025 | −0.10 | |
| Debt / equity | 1.44FY2016 | 1.58FY2025 | +0.15 | |
| Shares outstanding | 175.6MFY2016 | 219.2MFY2025 | +2.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
UGI assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
UGI liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
UGI debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
UGI balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $355.0M | $213.0M | $241.0M | $405.0M | $855.0M | $336.0M | $447.0M | $452.6M | $558.4M | $502.8M |
| Cash & equivalents | $355.0M | $213.0M | $241.0M | $405.0M | $855.0M | $336.0M | $447.0M | $452.6M | $558.4M | $502.8M |
| Short-term investments | — | — | — | — | — | — | — | $9.6M | $63.1M | $30.9M |
| Receivables | $790.0M | $801.0M | $947.0M | $1.28B | $1.02B | $746.0M | $656.0M | $765.9M | $640.1M | $564.4M |
| Inventory | $385.0M | $411.0M | $433.0M | $665.0M | $469.0M | $241.0M | $230.0M | $318.2M | $278.6M | $210.3M |
| Other current assets | $236.0M | $226.0M | $424.0M | $1.45B | $923.0M | $220.0M | $233.0M | $351.4M | $220.4M | $146.3M |
| Total current assets | $1.77B | $1.65B | $2.04B | $3.80B | $3.27B | $1.54B | $1.57B | $1.89B | $1.70B | $1.42B |
| Property, plant & equipment (net) | $9.50B | $8.76B | $8.97B | $8.04B | $7.56B | $6.96B | $6.69B | $5.81B | $5.54B | $5.24B |
| Goodwill & intangible assets | $3.18B | $3.26B | $3.47B | $4.11B | $4.35B | $4.20B | $4.17B | $3.67B | $3.72B | $3.57B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $38.0M | $242.4M | $43.5M | $9.2M | $6.5M |
| Other non-current assets | $1.02B | $1.42B | $919.0M | $1.62B | $1.54B | $1.25B | $685.6M | $567.1M | $619.6M | $609.6M |
| Total assets | $15.46B | $15.10B | $15.40B | $17.57B | $16.72B | $13.98B | $13.35B | $11.98B | $11.58B | $10.85B |
| Liabilities | ||||||||||
| Accounts payable | $511.0M | $544.0M | $613.0M | $891.0M | $837.0M | $475.0M | $439.0M | $561.8M | $439.6M | $391.2M |
| Short-term debt | $694.0M | $700.0M | $706.0M | $517.0M | $477.0M | $400.0M | $820.0M | $443.7M | $544.4M | $321.2M |
| Deferred revenue | — | $199.0M | $232.0M | $225.0M | $208.0M | $204.0M | $168.0M | $191.2M | $206.9M | $241.3M |
| Total current liabilities | $1.98B | $2.06B | $2.27B | $2.44B | $2.30B | $1.75B | $2.03B | $1.73B | $1.69B | $1.44B |
| Long-term debt | $6.53B | $6.44B | $6.54B | $6.48B | $6.34B | $5.98B | $5.78B | $4.15B | $3.99B | $3.77B |
| Other long-term liabilities | $2.16B | $2.24B | $2.19B | $2.57B | $2.56B | $2.11B | $1.71B | $2.00B | $2.16B | $2.04B |
| Total liabilities | $10.68B | $10.74B | $11.01B | $11.50B | $11.19B | $9.85B | $9.52B | $7.88B | $7.84B | $7.25B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.71B | $1.68B | $1.50B | $1.48B | $1.39B | $1.42B | $1.40B | $2.40B | $2.38B | $2.40B |
| Retained earnings (deficit) | $3.33B | $2.98B | $3.03B | $4.84B | $4.08B | $2.91B | $2.65B | $2.61B | $2.11B | $1.83B |
| Treasury stock | — | — | — | −$40.0M | −$26.0M | −$49.0M | −$15.9M | −$19.7M | −$38.6M | −$36.9M |
| Accumulated other comprehensive income | −$173.0M | −$253.0M | −$256.0M | −$380.0M | −$140.0M | −$147.0M | −$217.0M | −$110.4M | −$93.4M | −$154.7M |
| Minority interest | $9.0M | $9.0M | $8.0M | $8.0M | $9.0M | $9.0M | — | $418.6M | $577.6M | $750.9M |
| Total shareholders' equity | $4.78B | $4.34B | $4.39B | $6.07B | $5.52B | $4.13B | $3.82B | $3.68B | $3.16B | $2.84B |
| Key figures | ||||||||||
| Total debt | $7.56B | $7.14B | $7.25B | $7.00B | $6.82B | $6.38B | $6.60B | $4.59B | $4.54B | $4.09B |
| Net cash (debt) | −$7.21B | −$6.93B | −$7.01B | −$6.59B | −$5.96B | −$6.04B | −$6.15B | −$4.14B | −$3.98B | −$3.58B |
| Working capital | −$215.0M | −$409.0M | −$229.0M | $1.36B | $973.0M | −$212.0M | −$462.0M | $156.0M | $7.4M | −$18.2M |
| Tangible book value | $1.60B | $1.08B | $916.0M | $1.95B | $1.17B | −$67.0M | −$348.0M | $7.4M | −$555.6M | −$725.2M |
| Book value per share | $21.80 | $20.18 | $20.91 | $28.11 | $26.03 | $19.67 | $21.08 | $20.81 | $17.86 | $16.20 |
| Shares outstanding | 219.2M | 215.3M | 209.8M | 215.8M | 212.1M | 209.9M | 181.1M | 176.9M | 177.2M | 175.6M |
| Current ratio | 0.89 | 0.80 | 0.90 | 1.56 | 1.42 | 0.88 | 0.77 | 1.09 | 1.00 | 0.99 |
| Quick ratio | 0.58 | 0.49 | 0.52 | 0.69 | 0.82 | 0.62 | 0.54 | 0.70 | 0.71 | 0.74 |
| Debt / equity | 1.58 | 1.64 | 1.65 | 1.15 | 1.23 | 1.55 | 1.73 | 1.25 | 1.43 | 1.44 |
| Equity / assets | 30.9% | 28.8% | 28.5% | 34.5% | 33.0% | 29.5% | 28.6% | 30.7% | 27.3% | 26.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $476.0M | $494.0M | $251.0M | $355.0M | $350.0M | $426.0M | $240.0M | $213.0M | $183.0M | $263.0M | $204.0M | $241.0M |
| Cash & equivalents | $476.0M | $494.0M | $251.0M | $355.0M | $350.0M | $426.0M | $240.0M | $213.0M | $183.0M | $263.0M | $204.0M | $241.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $28.0M | — | — | — |
| Receivables | $837.0M | $1.31B | $1.26B | $790.0M | $908.0M | $1.32B | $1.17B | $801.0M | $865.0M | $1.29B | $1.31B | $947.0M |
| Inventory | $352.0M | $319.0M | $392.0M | $385.0M | $359.0M | $341.0M | $381.0M | $411.0M | $379.0M | $375.0M | $441.0M | $433.0M |
| Other current assets | $609.0M | $387.0M | $198.0M | $236.0M | $182.0M | $209.0M | $258.0M | $226.0M | $289.0M | $286.0M | $332.0M | $424.0M |
| Total current assets | $2.27B | $2.51B | $2.10B | $1.77B | $1.80B | $2.30B | $2.05B | $1.65B | $1.72B | $2.21B | $2.29B | $2.04B |
| Property, plant & equipment (net) | $8.86B | $9.07B | $9.12B | $9.08B | $8.93B | $8.82B | $8.75B | $8.76B | $8.57B | $8.61B | $8.60B | $8.55B |
| Goodwill & intangible assets | $3.07B | $3.10B | $3.15B | $3.18B | $3.23B | $3.21B | $3.18B | $3.26B | $3.43B | $3.46B | $3.50B | $3.47B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.42B | $1.44B | $1.44B | $1.44B | $1.40B | $1.42B | $1.44B | $1.42B | $1.35B | $1.34B | $1.33B | $1.34B |
| Total assets | $15.63B | $16.12B | $15.81B | $15.46B | $15.36B | $15.75B | $15.41B | $15.10B | $15.07B | $15.62B | $15.72B | $15.40B |
| Liabilities | ||||||||||||
| Accounts payable | $433.0M | $578.0M | $631.0M | $511.0M | $484.0M | $605.0M | $599.0M | $544.0M | $462.0M | $579.0M | $741.0M | $613.0M |
| Short-term debt | $18.0M | $807.0M | $807.0M | $694.0M | $1.27B | $431.0M | $668.0M | $700.0M | $633.0M | $387.0M | $611.0M | $706.0M |
| Deferred revenue | — | — | — | $188.0M | — | — | — | $199.0M | — | — | — | $232.0M |
| Total current liabilities | $1.58B | $2.51B | $2.68B | $1.98B | $2.55B | $1.86B | $2.04B | $2.06B | $1.89B | $1.82B | $2.34B | $2.27B |
| Long-term debt | $6.70B | $5.99B | $5.97B | $6.53B | $5.68B | $6.60B | $6.60B | $6.44B | $6.29B | $6.73B | $6.77B | $6.54B |
| Other long-term liabilities | $2.13B | $2.20B | $2.16B | $2.16B | $2.24B | $2.26B | $2.19B | $2.24B | $2.20B | $2.24B | $2.17B | $2.19B |
| Total liabilities | $10.41B | $10.69B | $10.80B | $10.68B | $10.48B | $10.72B | $10.82B | $10.74B | $10.38B | $10.79B | $11.28B | $11.01B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.74B | $1.73B | $1.72B | $1.71B | $1.70B | $1.68B | $1.68B | $1.68B | $1.68B | $1.50B | $1.50B | $1.50B |
| Retained earnings (deficit) | $3.78B | $3.99B | $3.55B | $3.33B | $3.43B | $3.67B | $3.27B | $2.98B | $3.33B | $3.46B | $3.04B | $3.03B |
| Accumulated other comprehensive income | −$182.0M | −$185.0M | −$168.0M | −$173.0M | −$181.0M | −$268.0M | −$313.0M | −$253.0M | −$269.0M | −$254.0M | −$232.0M | −$256.0M |
| Minority interest | $9.0M | $9.0M | $9.0M | $9.0M | $10.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $5.21B | $5.42B | $5.00B | $4.78B | $4.87B | $5.01B | $4.58B | $4.34B | $4.68B | $4.82B | $4.42B | $4.39B |
| Key figures | ||||||||||||
| Total debt | $6.71B | $6.79B | $6.77B | $7.56B | $6.95B | $7.03B | $7.26B | $7.14B | $6.92B | $7.12B | $7.38B | $7.25B |
| Net cash (debt) | −$6.24B | −$6.30B | −$6.52B | −$7.21B | −$6.60B | −$6.61B | −$7.02B | −$6.93B | −$6.74B | −$6.85B | −$7.18B | −$7.01B |
| Working capital | $694.0M | $4.0M | −$580.0M | −$215.0M | −$753.0M | $436.0M | $8.0M | −$409.0M | −$170.0M | $391.0M | −$56.0M | −$229.0M |
| Tangible book value | $2.14B | $2.32B | $1.85B | $1.60B | $1.64B | $1.80B | $1.40B | $1.08B | $1.25B | $1.36B | $923.0M | $916.0M |
| Book value per share | $24.28 | $24.33 | $22.59 | $21.58 | $22.69 | $22.89 | $21.23 | $20.16 | $22.22 | $22.40 | $20.52 | $20.34 |
| Shares outstanding | 214.7M | 222.7M | 221.4M | 221.4M | 214.8M | 218.9M | 215.7M | 215.5M | 210.7M | 215.2M | 215.6M | 215.6M |
| Current ratio | 1.44 | 1.00 | 0.78 | 0.89 | 0.70 | 1.23 | 1.00 | 0.80 | 0.91 | 1.21 | 0.98 | 0.90 |
| Quick ratio | 0.83 | 0.72 | 0.56 | 0.58 | 0.49 | 0.94 | 0.69 | 0.49 | 0.56 | 0.85 | 0.65 | 0.52 |
| Debt / equity | 1.29 | 1.25 | 1.35 | 1.58 | 1.43 | 1.40 | 1.59 | 1.64 | 1.48 | 1.48 | 1.67 | 1.65 |
| Equity / assets | 33.4% | 33.6% | 31.6% | 30.9% | 31.7% | 31.8% | 29.7% | 28.8% | 31.1% | 30.9% | 28.1% | 28.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 21, 2025); data from EODHD.
UGI financial position
At the end of fiscal 2025 (September 30, 2025), UGI had total assets of $15.5 billion (up 2.4% from a year earlier), total liabilities of $10.7 billion and shareholders' equity of $4.8 billion. It held $355.0 million in cash and short-term investments against $7.6 billion of debt, net debt of $7.2 billion. Its current ratio was 0.89. In the latest quarter (ended June 30, 2026) total assets were $15.6 billion and equity $5.2 billion.
Related: UGI income statement, UGI cash flow statement, UGI key metrics. See the UGI stock overview for the latest quote and news.
UGI balance sheet FAQ
What are UGI's total assets?
UGI reported total assets of $15.5 billion at the end of fiscal 2025 (September 30, 2025), compared with $15.1 billion a year earlier.
How much debt does UGI have?
UGI had $7.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.58.
How much cash does UGI have?
UGI held $355.0 million in cash and short-term investments at the end of fiscal 2025; with $7.6 billion of debt that is net debt of $7.2 billion.
What is UGI's book value?
UGI's shareholders' equity (book value) was $4.8 billion at the end of fiscal 2025, or $21.80 per share.
What is UGI's current ratio?
UGI had current assets of $1.8 billion and current liabilities of $2.0 billion, a current ratio of 0.89 (current liabilities exceed current assets).
How much goodwill does UGI have?
UGI carried $3.2 billion of goodwill and intangible assets, 20.6% of total assets, at the end of fiscal 2025.