UNITED PARCEL SERVICE INC UPS

Industrials SIC 4210 - Trucking & Courier Services (No Air) NAICS Transportation and Warehousing › Truck Transportation derived NYSE

UPS, founded in 1907, is a global package delivery and logistics provider. We offer a broad range of industry-leading products and services through our extensive global presence, serving over 200 countries and territories. Our services include transportation and delivery through our integrated air and ground network, distribution, contract logistics, ocean freight, airfreight, customs brokerage and insurance. In 2025, we delivered an average of 20.8 million packages per day, totaling 5.2 billion packages during the year. Total revenue in 2025 was $88.7 billion.

We are continuing to execute our Customer First, People Led, Innovation Driven strategy, which focuses on growing in the parts of our market that value our end-to-end solutions, including healthcare, business-to-business ("B2B"), small- and medium-sized businesses ("SMBs"), and international.

Last close 101.06 2026-10-23
Market cap $86.00B estimated share count
52-week range 88.22 - 122.41

Valuation FY2025 figures against the last close

P/S1.0x
P/E15.4x
P/FCF18.0x
EV/EBITDA9.6x
Dividend yield6.3%
Diluted EPS6.56

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 67.4B (76.1%) 76% United States International, FY2025: 21.2B (23.9%) 24% International FY2024 United States, FY2024: 70.4B (77.3%) 77% International, FY2024: 20.7B (22.7%) 23% FY2023 United States, FY2023: 71.7B (78.9%) 79% International, FY2023: 19.2B (21.1%) 21%
Region FY2025FY2024FY2023
United States $67.43B $70.39B $71.75B
International $21.23B $20.68B $19.21B

As the company reported it, from the “SEGMENT AND GEOGRAPHIC INFORMATION - Geographic Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • U.S. Domestic Package - Ground
  • International Package - Export
  • U.S. Domestic Package - Next Day Air
  • SCS - Logistics
  • U.S. Domestic Package - Deferred
  • International Package - Domestic
  • SCS - Forwarding
  • SCS - Other
  • U.S. Domestic Package - Cargo & Other
  • Other
Revenue by segment, 10 categories over 1 years. The same figures are in the table below. FY2025 U.S. Domestic Package - Ground, FY2025: 44.2B (49.8%) 50% U.S. Domestic Package - Ground International Package - Export, FY2025: 14.5B (16.3%) 16% U.S. Domestic Package - Next Day Air, FY2025: 9.7B (10.9%) 11% SCS - Logistics, FY2025: 5.9B (6.6%) 7% U.S. Domestic Package - Deferred, FY2025: 4.4B (5.0%) 5% International Package - Domestic, FY2025: 3.4B (3.8%) 4% SCS - Forwarding, FY2025: 2.9B (3.3%) SCS - Other, FY2025: 1.8B (2.0%) U.S. Domestic Package - Cargo & Other, FY2025: 1.2B (1.4%) Other, FY2025: 696M (0.8%)
Segment FY2025
U.S. Domestic Package - Ground $44.18B
International Package - Export $14.48B
U.S. Domestic Package - Next Day Air $9.65B
SCS - Logistics $5.86B
U.S. Domestic Package - Deferred $4.45B
International Package - Domestic $3.40B
SCS - Forwarding $2.92B
SCS - Other $1.79B
U.S. Domestic Package - Cargo & Other $1.24B
Other $696.0M

As the company reported it, from the “REVENUE RECOGNITION - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $88.66B$91.07B$90.96B$100.34B$97.29B$84.63B$74.09B$71.86B$66.58B$61.61B
Total operating expenses $80.79B$82.60B$81.82B$87.24B$84.48B$76.94B$66.30B$64.84B$59.06B$53.92B
Operating income $7.87B$8.47B$9.14B$13.09B$12.81B$7.68B$7.80B$7.02B$7.53B$7.69B
Interest expense $1.02B$866.0M$787.0M$704.0M$694.0M$701.0M$653.0M$605.0M$453.0M$381.0M
Pre-tax income $7.16B$7.44B$8.57B$14.82B$16.59B$1.84B$5.65B$6.02B$7.14B$5.12B
Income tax $1.59B$1.66B$1.86B$3.28B$3.71B$501.0M$1.21B$1.23B$2.23B$1.70B
Net income $5.57B$5.78B$6.71B$11.55B$12.89B$1.34B$4.44B$4.79B$4.91B$3.42B
EPS, basic 6.566.767.8113.2614.751.555.145.535.633.88
EPS, diluted 6.566.757.8013.2014.681.545.115.515.613.86
Shares, diluted (wtd. avg.) 850.0M856.0M860.0M875.0M878.0M871.0M869.0M870.0M875.0M887.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $5.89B$6.11B$3.21B$5.60B$10.26B$5.91B$5.24B$4.37B$3.77B$3.92B
Short-term investments —$206.0M$2.87B$1.99B$336.0M$404.0M$503.0M$810.0M$749.0M$1.09B
Receivables $11.21B$10.87B$11.22B$12.58B$12.54B$10.75B$9.55B$8.96B$8.77B$7.70B
Inventory $739.0M$826.0M$935.0M$889.0M$717.0M$620.0M$511.0M$421.0M$404.0M$342.0M
Total current assets $19.05B$19.31B$19.41B$22.22B$24.93B$20.22B$17.10B$16.21B$15.72B$13.85B
Property, plant and equipment ———$34.72B$33.48B$32.25B$30.48B$26.58B$22.12B$18.80B
Goodwill $4.80B$4.30B$4.87B$4.22B$3.69B$3.37B$3.81B$3.81B$3.87B$3.76B
Other intangibles $4.02B$3.06B$3.31B$2.80B$2.49B$2.27B$2.17B$2.08B$1.96B$1.76B
Total assets $73.09B$70.07B$70.86B$71.12B$69.41B$62.41B$57.86B$50.02B$45.57B$40.55B
Accounts payable $6.63B$6.30B$6.34B$7.51B$7.52B$6.46B$5.55B$5.19B$3.93B$3.04B
Short-term debt $608.0M$1.84B$3.35B$2.34B$2.13B$2.62B$3.42B$2.81B$4.01B$3.68B
Total current liabilities $15.62B$16.44B$17.68B$18.14B$17.57B$17.02B$15.41B$14.09B$12.89B$11.73B
Long-term debt $23.59B$21.03B$22.00B$17.32B$19.78B$22.03B$21.82B$19.93B$20.28B$12.39B
Retained earnings $20.15B$20.88B$21.05B$21.33B$16.18B$6.90B$9.11B$8.01B$5.85B$4.88B
Total equity $16.23B$16.72B$17.31B$19.79B$14.25B$657.0M$3.27B$3.02B$994.0M$405.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $8.45B$10.12B$10.24B$14.10B$15.01B$10.46B$8.64B$12.71B$1.48B$6.47B
Depreciation and amortisation $3.00B$3.00B$2.80B$76.0M——$212.0M———
Stock-based compensation $73.0M$24.0M$220.0M$1.57B$878.0M$796.0M$915.0M$634.0M$584.0M$591.0M
Capital expenditure $3.69B$3.91B$5.16B$4.77B$4.19B$5.41B$6.38B$6.28B$5.23B$2.96B
Investing cash flow -$4.74B-$217.0M-$7.13B-$7.47B-$3.82B-$5.28B-$6.06B-$6.33B-$4.97B-$2.56B
Financing cash flow -$4.14B-$6.85B-$5.53B-$11.19B-$6.82B-$4.52B-$1.73B-$5.69B$3.29B-$3.14B
Dividends paid $5.40B$5.40B$5.37B$5.11B$3.44B$3.37B$3.19B$3.01B$2.77B$2.64B
Buybacks $1.00B$500.0M$2.25B$3.50B$500.0M$224.0M$1.00B$1.01B$1.81B$2.68B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-008432.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50B 100B 150B Revenue, FY2016: 61.6B Net income, FY2016: 3.4B Revenue, FY2017: 66.6B Net income, FY2017: 4.9B Revenue, FY2018: 71.9B Net income, FY2018: 4.8B Revenue, FY2019: 74.1B Net income, FY2019: 4.4B Revenue, FY2020: 84.6B Net income, FY2020: 1.3B Revenue, FY2021: 97.3B Net income, FY2021: 12.9B Revenue, FY2022: 100.3B Net income, FY2022: 11.5B Revenue, FY2023: 91B Net income, FY2023: 6.7B Revenue, FY2024: 91.1B Net income, FY2024: 5.8B Revenue, FY2025: 88.7B Net income, FY2025: 5.6B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $61.61B $66.58B $71.86B $74.09B $84.63B $97.29B $100.34B $90.96B $91.07B $88.66B
Gross profit — — — — — — — — — —
Net income $3.42B $4.91B $4.79B $4.44B $1.34B $12.89B $11.55B $6.71B $5.78B $5.57B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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