United Parcel Service (UPS) Financials

$97.31 +0.47 (+0.49%)

Closing price 04/23/2025 03:59 PM Eastern

Extended Trading

$97.86 +0.55 (+0.57%)

As of 04/23/2025 07:58 PM Eastern

Annual Income Statements for United Parcel Service

This table shows United Parcel Service's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	4,844	3,422	4,905	4,791	4,440	1,343	12,890	11,548	6,708	5,782
Consolidated Net Income / (Loss)	4,844	3,422	4,905	4,791	4,440	1,343	12,890	11,548	6,708	5,782
Net Income / (Loss) Continuing Operations	4,844	3,422	4,905	4,791	4,440	1,343	12,890	11,548	6,708	5,782
Total Pre-Tax Income	7,342	5,121	7,137	6,019	5,652	1,844	16,595	14,825	8,573	7,442
Total Operating Income	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468
Total Gross Profit	14,388	14,531	14,866	14,696	17,915	20,347	26,002	27,086	23,432	22,905
Total Revenue	58,363	61,610	66,585	71,861	74,094	84,628	97,287	100,338	90,958	91,070
Operating Revenue	58,363	61,610	66,585	71,861	74,094	84,628	97,287	100,338	90,958	91,070
Total Cost of Revenue	43,975	47,079	51,719	57,165	56,179	64,281	71,285	73,252	67,526	68,165
Operating Cost of Revenue	43,975	47,079	51,719	57,165	56,179	64,281	71,285	73,252	67,526	68,165
Total Operating Expenses	6,720	6,843	7,337	7,672	10,117	12,663	13,192	13,992	14,291	14,437
Selling, General & Admin Expense	4,636	4,619	5,055	5,465	7,757	9,965	10,239	10,804	10,925	10,828
Depreciation Expense	2,084	2,224	2,282	2,207	2,360	2,698	2,953	3,188	3,366	3,609
Total Other Income / (Expense), net	-326	-2,567	-392	-1,005	-2,146	-5,840	3,785	1,731	-568	-1,026
Income Tax Expense	2,498	1,699	2,232	1,228	1,212	501	3,705	3,277	1,865	1,660
Basic Earnings per Share	$5.38	$3.88	$5.63	$5.53	$5.14	$1.55	$14.75	$13.26	$7.81	$6.76
Weighted Average Basic Shares Outstanding	901M	870.03M	871M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Diluted Earnings per Share	$5.35	$3.86	$5.61	$5.51	$5.11	$1.54	$14.68	$13.20	$7.80	$6.75
Weighted Average Diluted Shares Outstanding	901M	870.03M	871M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Weighted Average Basic & Diluted Shares Outstanding	901M	870.03M	871M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Cash Dividends to Common per Share	-	-	-	-	-	-	$4.08	$6.08	$6.48	$6.52

This table shows United Parcel Service's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	2,584	3,453	1,895	2,081	1,127	1,605	1,113	1,409	1,539	1,721
Consolidated Net Income / (Loss)	2,584	3,453	1,895	2,081	1,127	1,605	1,113	1,409	1,539	1,721
Net Income / (Loss) Continuing Operations	2,584	3,453	1,895	2,081	1,127	1,605	1,113	1,409	1,539	1,721
Total Pre-Tax Income	3,269	4,467	2,522	2,720	1,268	2,063	1,536	1,869	1,910	2,127
Total Operating Income	3,113	3,195	2,541	2,780	1,343	2,477	1,613	1,944	1,985	2,926
Total Gross Profit	6,528	7,196	6,098	6,140	4,087	7,107	5,197	5,424	17,285	-5,001
Total Revenue	24,161	27,033	22,925	22,055	21,061	24,917	21,706	21,818	22,245	25,301
Operating Revenue	24,161	27,033	22,925	22,055	21,061	24,917	21,706	21,818	22,245	25,301
Total Cost of Revenue	17,633	19,837	16,827	15,915	16,974	17,810	16,509	16,394	4,960	30,302
Operating Cost of Revenue	17,633	19,837	16,827	15,915	16,974	17,810	16,509	16,394	4,960	30,302
Total Operating Expenses	3,415	4,001	3,557	3,360	2,744	4,630	3,584	3,480	15,300	-7,927
Selling, General & Admin Expense	2,641	3,113	2,723	2,532	1,907	3,763	2,686	2,593	14,395	-8,846
Depreciation Expense	774	888	834	828	837	867	898	887	905	919
Total Other Income / (Expense), net	156	1,272	-19	-60	-75	-414	-77	-75	-75	-799
Income Tax Expense	685	1,014	627	639	141	458	423	460	371	406
Basic Earnings per Share	$2.97	$3.98	$2.20	$2.42	$1.31	$1.88	$1.30	$1.65	$1.80	$2.01
Weighted Average Basic Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M
Diluted Earnings per Share	$2.96	$3.96	$2.19	$2.42	$1.31	$1.88	$1.30	$1.65	$1.80	$2.00
Weighted Average Diluted Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M
Weighted Average Basic & Diluted Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M

This table details how cash moves in and out of United Parcel Service's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	439	749	-205	689	871	672	4,345	-4,653	-2,396	2,906
Net Cash From Operating Activities	7,430	6,473	1,479	12,711	8,639	10,459	15,007	14,104	10,238	10,122
Net Cash From Continuing Operating Activities	7,430	6,473	1,479	12,711	8,639	10,459	15,007	14,104	10,238	10,122
Net Income / (Loss) Continuing Operations	4,844	3,422	4,905	4,791	4,440	1,343	12,890	11,548	6,708	5,782
Consolidated Net Income / (Loss)	4,844	3,422	4,905	4,791	4,440	1,343	12,890	11,548	6,708	5,782
Depreciation Expense	2,084	2,224	2,282	2,207	2,360	2,698	2,953	3,188	3,366	3,609
Non-Cash Adjustments To Reconcile Net Income	349	1,450	-5,530	2,983	1,768	5,713	-2,017	-780	422	460
Changes in Operating Assets and Liabilities, net	153	-623	-178	2,730	71	705	1,181	148	-258	271
Net Cash From Investing Activities	-5,309	-2,563	-4,971	-6,330	-6,061	-5,283	-3,818	-7,472	-7,133	-217
Net Cash From Continuing Investing Activities	-5,309	-2,563	-4,971	-6,330	-6,061	-5,283	-3,818	-7,472	-7,133	-217
Purchase of Property, Plant & Equipment	-2,379	-2,965	-5,227	-6,283	-6,380	-5,412	-4,194	-4,769	-5,158	-3,909
Acquisitions	-1,904	-547	-134	-2.00	-6.00	-20	-602	-755	-1,329	-71
Purchase of Investments	-7,415	-4,813	-1,630	-973	-561	-210	-312	-1,906	-3,521	-76
Sale of Property, Plant & Equipment	26	88	24	37	65	40	872	12	193	1,115
Sale and/or Maturity of Investments	6,393	5,733	1,995	890	896	360	366	255	2,701	2,748
Other Investing Activities, net	-30	-59	1.00	1.00	-75	-41	52	-309	-19	-24
Net Cash From Financing Activities	-1,565	-3,140	3,287	-5,692	-1,727	-4,517	-6,823	-11,185	-5,534	-6,850
Net Cash From Continuing Financing Activities	-1,565	-3,140	3,287	-5,692	-1,727	-4,517	-6,823	-11,185	-5,534	-6,850
Repayment of Debt	-370	-3,991	-4,392	-3,175	-2,952	-6,207	-3,137	-2,833	-1,589	-3,968
Repurchase of Common Equity	-2,702	-2,678	-1,813	-1,011	-1,004	-224	-500	-3,500	-2,250	-500
Payment of Dividends	-2,525	-2,643	-2,771	-3,011	-3,194	-3,374	-3,437	-5,114	-5,372	-5,399
Issuance of Debt	3,783	5,927	12,016	1,265	5,205	5,003	0.00	0.00	3,429	2,785
Issuance of Common Equity	249	245	247	240	218	285	251	262	248	232
Effect of Exchange Rate Changes	-117	-21	-	-	-	13	-21	-100	33	-149
Cash Interest Paid	345	373	428	595	628	691	697	721	762	854
Cash Income Taxes Paid	1,913	2,064	1,559	2.00	514	1,138	1,869	2,574	1,976	1,347

This table details how cash moves in and out of United Parcel Service's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-690	-5,443	588	-1,378	-501	-1,105	1,168	1,945	-464	257
Net Cash From Operating Activities	2,479	3,332	2,357	3,237	2,233	2,411	3,316	1,993	1,498	3,315
Net Cash From Continuing Operating Activities	2,479	3,332	2,357	3,237	2,233	2,411	3,316	1,993	1,498	3,315
Net Income / (Loss) Continuing Operations	2,584	3,453	1,895	2,081	1,127	1,605	1,113	1,409	1,539	1,721
Consolidated Net Income / (Loss)	2,584	3,453	1,895	2,081	1,127	1,605	1,113	1,409	1,539	1,721
Depreciation Expense	774	888	834	828	837	867	898	887	905	919
Non-Cash Adjustments To Reconcile Net Income	-1,553	-165	-921	225	337	781	311	226	-1,157	1,080
Changes in Operating Assets and Liabilities, net	674	-844	549	103	-68	-842	994	-529	211	-405
Net Cash From Investing Activities	-909	-5,064	-1,813	-1,046	-1,070	-3,204	1,566	-913	187	-1,057
Net Cash From Continuing Investing Activities	-909	-5,064	-1,813	-1,046	-1,070	-3,204	1,566	-913	187	-1,057
Purchase of Property, Plant & Equipment	-890	-2,491	-609	-1,211	-1,289	-2,049	-1,035	-933	-843	-1,098
Acquisitions	-7.00	-649	-34	-	-5.00	-1,290	-44	-22	-	-5.00
Purchase of Investments	-63	-1,711	-2,371	-599	-377	-174	-50	-2.00	-	-24
Sale and/or Maturity of Investments	63	62	1,179	724	494	304	2,696	19	10	23
Other Investing Activities, net	-15	-275	17	-5.00	-10	-21	-14	10	-22	2.00
Net Cash From Financing Activities	-2,189	-3,710	4.00	-3,586	-1,603	-349	-3,666	899	-2,236	-1,847
Net Cash From Continuing Financing Activities	-2,189	-3,710	4.00	-3,586	-1,603	-349	-3,666	899	-2,236	-1,847
Repayment of Debt	-24	-1,196	-449	-1,564	-39	463	-2,372	-610	-441	-545
Payment of Dividends	-1,275	-1,272	-1,348	-1,345	-1,341	-1,338	-1,348	-1,353	-1,348	-1,350
Issuance of Common Equity	62	64	49	70	71	58	54	77	53	48
Effect of Exchange Rate Changes	-	-	40	17	-	-	-48	-24	77	-154

This table presents United Parcel Service's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	38,311	40,377	45,574	50,016	57,857	62,408	69,405	71,124	70,857	70,070
Total Current Assets	13,208	13,849	15,718	16,210	17,103	20,216	24,934	22,217	19,413	19,310
Cash & Equivalents	2,730	3,476	3,320	4,225	5,238	5,910	10,255	5,602	3,206	6,112
Short-Term Investments	1,996	1,091	749	810	503	406	338	1,993	2,866	206
Accounts Receivable	7,134	7,695	8,773	8,958	9,552	10,750	12,541	12,583	11,216	10,871
Other Current Assets	1,348	954	1,303	1,277	1,810	1,953	1,800	2,039	2,125	2,121
Plant, Property, & Equipment, net	18,352	18,800	22,118	26,576	30,482	0.00	33,475	34,719	36,945	37,179
Total Noncurrent Assets	6,751	7,728	7,738	7,230	10,272	42,192	10,996	14,188	14,499	13,581
Goodwill	3,419	3,757	3,872	3,811	3,813	3,367	3,692	4,223	4,872	4,300
Intangible Assets	1,549	1,758	1,964	2,075	2,167	2,274	2,486	2,796	3,305	3,064
Noncurrent Deferred & Refundable Income Taxes	255	591	266	141	330	527	176	139	126	112
Other Noncurrent Operating Assets	1,055	1,146	1,153	1,033	3,938	35,999	4,642	7,030	6,196	6,105
Total Liabilities & Shareholders' Equity	38,311	40,377	45,574	50,016	57,857	62,408	69,405	71,124	70,857	70,070
Total Liabilities	35,820	39,948	44,550	46,979	54,574	61,739	55,136	51,321	53,543	53,327
Total Current Liabilities	10,696	11,730	12,886	14,087	15,413	17,016	17,569	18,140	17,676	16,441
Short-Term Debt	3,018	3,681	4,011	2,805	3,420	2,623	2,131	2,341	3,348	1,838
Accounts Payable	2,587	3,042	3,934	5,188	5,555	6,455	7,523	7,515	6,340	6,302
Accrued Expenses	525	598	677	715	793	927	1,038	1,078	1,479	1,390
Current Employee Benefit Liabilities	2,253	2,317	2,608	3,047	2,552	3,569	3,819	4,049	3,224	3,655
Other Current Liabilities	2,313	2,092	1,656	2,332	3,093	3,442	3,058	3,157	3,285	3,256
Total Noncurrent Liabilities	25,124	28,218	31,664	32,892	39,161	44,723	37,567	33,181	35,867	36,886
Long-Term Debt	11,316	12,394	20,278	19,931	21,818	22,031	19,784	17,321	18,916	19,446
Noncurrent Deferred & Payable Income Tax Liabilities	115	112	756	1,619	1,632	488	3,125	4,302	3,772	3,595
Noncurrent Employee Benefit Liabilities	10,638	12,694	7,061	8,347	10,601	15,817	8,047	4,807	6,159	6,859
Other Noncurrent Operating Liabilities	1,224	1,224	1,804	1,424	5,110	6,387	6,611	6,751	7,020	6,986
Total Equity & Noncontrolling Interests	2,491	429	1,024	3,037	3,283	669	14,269	19,803	17,314	16,743
Total Preferred & Common Equity	2,470	405	994	3,021	3,276	657	14,253	19,786	17,306	16,718
Total Common Equity	2,470	405	994	3,012	3,267	657	14,253	19,786	17,306	16,718
Common Stock	9.00	9.00	9.00	0.00	159	874	1,352	9.00	9.00	145
Retained Earnings	6,001	4,879	5,852	8,006	9,105	6,896	16,179	21,326	21,055	20,882
Accumulated Other Comprehensive Income / (Loss)	-3,540	-4,483	-4,867	-4,994	-5,997	-7,113	-3,278	-1,549	-3,758	-4,309
Other Equity Adjustments	51	45	37	32	26	20	16	0.00	0.00	0.00
Noncontrolling Interest	21	24	30	16	16	12	16	17	8.00	25

This table presents United Parcel Service's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	69,544	71,124	72,189	70,347	70,281	70,857	67,628	69,418	68,263	70,070
Total Current Assets	24,598	22,217	21,725	19,439	19,251	19,413	16,177	18,823	17,264	19,310
Cash & Equivalents	11,045	5,602	6,190	4,812	4,311	3,206	4,281	6,319	5,855	6,112
Short-Term Investments	331	1,993	3,208	3,071	2,967	2,866	232	213	205	206
Accounts Receivable	10,975	12,583	10,299	9,587	9,461	11,216	9,554	9,048	9,195	10,871
Other Current Assets	2,247	2,039	2,028	1,969	2,512	2,125	1,212	2,060	2,009	2,121
Plant, Property, & Equipment, net	33,625	34,719	34,995	35,501	36,013	36,945	37,168	37,129	37,389	37,179
Total Noncurrent Assets	11,321	14,188	15,469	15,407	15,017	14,499	14,283	13,466	13,610	13,581
Goodwill	3,624	4,223	4,249	4,250	4,097	4,872	4,846	4,350	4,411	4,300
Intangible Assets	2,439	2,796	2,811	2,890	2,892	3,305	3,308	3,106	3,108	3,064
Noncurrent Deferred & Refundable Income Taxes	143	139	155	137	127	126	126	123	125	112
Other Noncurrent Operating Assets	5,095	7,030	8,254	8,130	7,901	6,196	6,003	5,887	5,966	6,105
Total Liabilities & Shareholders' Equity	69,544	71,124	72,189	70,347	70,281	70,857	67,628	69,418	68,263	70,070
Total Liabilities	52,556	51,321	52,136	50,310	51,101	53,543	50,695	52,365	51,379	53,327
Total Current Liabilities	17,679	18,140	16,262	14,686	15,817	17,676	14,696	15,085	15,081	16,441
Short-Term Debt	2,581	2,341	2,332	1,412	2,243	3,348	1,164	2,008	1,606	1,838
Accounts Payable	6,731	7,515	6,302	6,085	5,972	6,340	5,397	5,299	5,410	6,302
Accrued Expenses	1,006	1,078	1,196	1,200	1,306	1,479	1,573	1,202	1,239	1,390
Current Employee Benefit Liabilities	3,643	4,049	3,012	2,962	3,341	3,224	3,217	3,308	3,527	3,655
Other Current Liabilities	3,718	3,157	3,420	3,027	2,955	3,285	3,345	2,895	3,299	3,256
Total Noncurrent Liabilities	34,877	33,181	35,874	35,624	35,284	35,867	35,999	37,280	36,298	36,886
Long-Term Debt	17,769	17,321	19,856	19,351	18,882	18,916	18,849	20,197	20,324	19,446
Noncurrent Deferred & Payable Income Tax Liabilities	3,761	4,302	4,345	4,421	4,601	3,772	3,825	3,841	3,761	3,595
Noncurrent Employee Benefit Liabilities	6,747	4,807	4,602	4,635	4,670	6,159	6,323	6,449	5,384	6,859
Other Noncurrent Operating Liabilities	6,600	6,751	7,071	7,217	7,131	7,020	7,002	6,793	6,829	6,986
Total Equity & Noncontrolling Interests	16,988	19,803	20,053	20,037	19,180	17,314	16,933	17,053	16,884	16,743
Total Preferred & Common Equity	16,968	19,786	20,038	20,019	19,168	17,306	16,909	17,030	16,857	16,718
Total Common Equity	16,968	19,786	20,038	20,019	19,168	17,306	16,909	17,030	16,857	16,718
Common Stock	9.00	9.00	9.00	9.00	9.00	9.00	9.00	145	9.00	145
Retained Earnings	20,177	21,326	21,510	21,584	20,699	21,055	20,681	20,692	20,552	20,882
Accumulated Other Comprehensive Income / (Loss)	-3,218	-1,549	-1,481	-1,574	-1,540	-3,758	-3,781	-3,807	-3,704	-4,309
Other Equity Adjustments	12	0.00	9.00	9.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	20	17	15	18	12	8.00	24	23	27	25

This table displays calculated financial ratios and metrics derived from United Parcel Service's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.23%	5.56%	8.08%	7.92%	3.11%	14.22%	14.96%	3.14%	-9.35%	0.12%
EBITDA Growth	41.52%	1.64%	-1.02%	-5.91%	10.04%	2.21%	51.83%	3.29%	-23.19%	-3.44%
EBIT Growth	54.35%	0.26%	-2.07%	-6.71%	11.02%	-1.46%	66.71%	2.22%	-30.19%	-7.36%
NOPAT Growth	55.74%	1.55%	0.72%	8.05%	9.57%	-8.64%	77.80%	2.51%	-29.88%	-8.02%
Net Income Growth	59.76%	-29.36%	43.34%	-2.32%	-7.33%	-69.75%	859.79%	-10.41%	-41.91%	-13.80%
EPS Growth	63.11%	-27.85%	45.34%	-1.78%	-7.26%	-69.86%	853.25%	-10.08%	-40.91%	-13.46%
Operating Cash Flow Growth	29.76%	-12.88%	-77.15%	759.43%	-32.04%	21.07%	43.48%	-6.02%	-27.41%	-1.13%
Free Cash Flow Firm Growth	-54.85%	104.09%	-177.81%	240.20%	-31.92%	168.35%	-79.71%	82.86%	40.70%	51.84%
Invested Capital Growth	26.85%	-1.42%	81.14%	-0.93%	10.64%	-21.84%	43.89%	24.54%	5.13%	-5.36%
Revenue Q/Q Growth	0.27%	2.63%	2.05%	1.23%	0.98%	5.39%	3.05%	-0.73%	-2.27%	0.42%
EBITDA Q/Q Growth	15.94%	-2.33%	3.17%	-1.16%	2.15%	-0.13%	13.67%	-3.34%	-5.58%	4.33%
EBIT Q/Q Growth	20.36%	-3.25%	3.72%	-0.83%	1.68%	-1.23%	16.92%	-5.05%	-7.28%	5.60%
NOPAT Q/Q Growth	20.83%	-1.48%	4.79%	-0.54%	2.15%	-6.88%	17.50%	-5.33%	-6.92%	6.83%
Net Income Q/Q Growth	22.14%	-31.57%	37.74%	-11.83%	-11.18%	-70.70%	99.85%	3.22%	-21.60%	2.05%
EPS Q/Q Growth	22.99%	-31.44%	37.84%	-11.84%	-11.13%	-70.72%	100.27%	3.53%	-21.05%	1.81%
Operating Cash Flow Q/Q Growth	-6.54%	1.49%	-73.25%	96.07%	-3.82%	-14.47%	16.00%	0.61%	-8.25%	9.81%
Free Cash Flow Firm Q/Q Growth	-54.33%	58.69%	-345.46%	3,937.99%	57.02%	21.18%	-69.14%	-53.39%	820.05%	30.24%
Invested Capital Q/Q Growth	12.04%	-6.44%	33.88%	-3.34%	-8.12%	-19.37%	8.53%	22.85%	1.45%	-3.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.65%	23.59%	22.33%	20.45%	24.18%	24.04%	26.73%	26.99%	25.76%	25.15%
EBITDA Margin	16.71%	16.09%	14.73%	12.85%	13.71%	12.27%	16.20%	16.23%	13.75%	13.26%
Operating Margin	13.14%	12.48%	11.31%	9.77%	10.52%	9.08%	13.17%	13.05%	10.05%	9.30%
EBIT Margin	13.14%	12.48%	11.31%	9.77%	10.52%	9.08%	13.17%	13.05%	10.05%	9.30%
Profit (Net Income) Margin	8.30%	5.55%	7.37%	6.67%	5.99%	1.59%	13.25%	11.51%	7.37%	6.35%
Tax Burden Percent	65.98%	66.82%	68.73%	79.60%	78.56%	72.83%	77.67%	77.90%	78.25%	77.69%
Interest Burden Percent	95.75%	66.61%	94.79%	85.69%	72.48%	24.00%	129.55%	113.22%	93.79%	87.88%
Effective Tax Rate	34.02%	33.18%	31.27%	20.40%	21.44%	27.17%	22.33%	22.10%	21.75%	22.31%
Return on Invested Capital (ROIC)	48.67%	44.50%	32.12%	27.06%	28.28%	27.61%	45.88%	35.50%	21.88%	20.18%
ROIC Less NNEP Spread (ROIC-NNEP)	46.00%	27.49%	30.37%	22.76%	19.17%	4.36%	66.55%	47.03%	18.74%	15.06%
Return on Net Nonoperating Assets (RNNOA)	159.72%	189.88%	643.04%	208.90%	112.23%	40.36%	126.70%	32.28%	14.26%	13.78%
Return on Equity (ROE)	208.39%	234.38%	675.15%	235.95%	140.51%	67.97%	172.58%	67.79%	36.15%	33.95%
Cash Return on Invested Capital (CROIC)	24.99%	45.93%	-25.61%	27.99%	18.18%	52.13%	9.89%	13.65%	16.88%	25.69%
Operating Return on Assets (OROA)	20.79%	19.54%	17.52%	14.70%	14.46%	12.78%	19.44%	18.64%	12.88%	12.02%
Return on Assets (ROA)	13.14%	8.70%	11.41%	10.02%	8.23%	2.23%	19.56%	16.44%	9.45%	8.21%
Return on Common Equity (ROCE)	206.69%	230.77%	650.06%	232.76%	139.59%	67.48%	172.26%	67.72%	36.12%	33.92%
Return on Equity Simple (ROE_SIMPLE)	196.11%	844.94%	493.46%	158.59%	135.53%	204.41%	90.44%	58.36%	38.76%	34.59%
Net Operating Profit after Tax (NOPAT)	5,059	5,137	5,174	5,591	6,126	5,596	9,950	10,200	7,152	6,579
NOPAT Margin	8.67%	8.34%	7.77%	7.78%	8.27%	6.61%	10.23%	10.17%	7.86%	7.22%
Net Nonoperating Expense Percent (NNEP)	2.66%	17.01%	1.75%	4.29%	9.11%	23.25%	-20.68%	-11.53%	3.15%	5.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	25.84%	18.07%	17.30%
Cost of Revenue to Revenue	75.35%	76.41%	77.67%	79.55%	75.82%	75.96%	73.27%	73.01%	74.24%	74.85%
SG&A Expenses to Revenue	7.94%	7.50%	7.59%	7.61%	10.47%	11.78%	10.52%	10.77%	12.01%	11.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	11.51%	11.11%	11.02%	10.68%	13.65%	14.96%	13.56%	13.94%	15.71%	15.85%
Earnings before Interest and Taxes (EBIT)	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	26.72	195.99	84.49	23.50	26.87	200.13	11.93	6.87	7.28	6.35
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	21.05	10.65	13.80	11.34
Price to Revenue (P/Rev)	1.13	1.29	1.26	0.98	1.18	1.55	1.75	1.36	1.39	1.16
Price to Earnings (P/E)	13.62	23.20	17.12	14.77	19.77	97.91	13.19	11.78	18.78	18.35
Dividend Yield	3.94%	3.43%	3.41%	4.42%	3.75%	2.66%	2.09%	5.48%	4.38%	5.24%
Earnings Yield	7.34%	4.31%	5.84%	6.77%	5.06%	1.02%	7.58%	8.49%	5.32%	5.45%
Enterprise Value to Invested Capital (EV/IC)	6.46	7.89	5.00	4.29	4.71	8.42	7.09	4.65	4.24	3.82
Enterprise Value to Revenue (EV/Rev)	1.29	1.47	1.56	1.23	1.45	1.77	1.86	1.48	1.56	1.33
Enterprise Value to EBITDA (EV/EBITDA)	7.71	9.12	10.57	9.57	10.56	14.43	11.50	9.10	11.37	10.03
Enterprise Value to EBIT (EV/EBIT)	9.80	11.76	13.78	12.57	13.76	19.50	14.16	11.31	15.55	14.30
Enterprise Value to NOPAT (EV/NOPAT)	14.86	17.60	20.05	15.80	17.51	26.77	18.22	14.52	19.88	18.40
Enterprise Value to Operating Cash Flow (EV/OCF)	10.12	13.97	70.15	6.95	12.42	14.32	12.08	10.50	13.89	11.96
Enterprise Value to Free Cash Flow (EV/FCFF)	28.93	17.06	0.00	15.27	27.24	14.18	84.57	37.77	25.77	14.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.75	37.47	23.72	7.49	7.69	36.85	1.54	0.99	1.29	1.27
Long-Term Debt to Equity	4.54	28.89	19.80	6.56	6.65	32.93	1.39	0.87	1.09	1.16
Financial Leverage	3.47	6.91	21.18	9.18	5.86	9.26	1.90	0.69	0.76	0.91
Leverage Ratio	15.86	26.95	59.15	23.54	17.07	30.43	8.82	4.12	3.83	4.14
Compound Leverage Factor	15.19	17.95	56.07	20.17	12.37	7.30	11.43	4.67	3.59	3.64
Debt to Total Capital	85.19%	97.40%	95.95%	88.22%	88.49%	97.36%	60.57%	49.82%	56.25%	55.97%
Short-Term Debt to Total Capital	17.94%	22.30%	15.85%	10.88%	11.99%	10.36%	5.89%	5.93%	8.46%	4.83%
Long-Term Debt to Total Capital	67.26%	75.10%	80.11%	77.33%	76.50%	87.00%	54.68%	43.89%	47.79%	51.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.12%	0.15%	0.12%	0.06%	0.06%	0.05%	0.04%	0.04%	0.02%	0.07%
Common Equity to Total Capital	14.68%	2.45%	3.93%	11.69%	11.45%	2.59%	39.39%	50.14%	43.73%	43.96%
Debt to EBITDA	1.47	1.62	2.48	2.46	2.48	2.37	1.39	1.21	1.78	1.76
Net Debt to EBITDA	0.94	1.11	2.01	1.90	1.92	1.76	0.72	0.74	1.29	1.24
Long-Term Debt to EBITDA	1.16	1.25	2.07	2.16	2.15	2.12	1.26	1.06	1.51	1.61
Debt to NOPAT	2.83	3.13	4.69	4.07	4.12	4.41	2.20	1.93	3.11	3.24
Net Debt to NOPAT	1.81	2.15	3.81	3.14	3.18	3.27	1.14	1.18	2.26	2.27
Long-Term Debt to NOPAT	2.24	2.41	3.92	3.56	3.56	3.94	1.99	1.70	2.64	2.96
Altman Z-Score	3.59	3.58	3.39	3.08	2.95	3.26	4.31	4.10	3.57	3.36
Noncontrolling Interest Sharing Ratio	0.82%	1.54%	3.72%	1.35%	0.65%	0.71%	0.19%	0.10%	0.07%	0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.23	1.18	1.22	1.15	1.11	1.19	1.42	1.22	1.10	1.17
Quick Ratio	1.11	1.05	1.00	0.99	0.99	1.00	1.32	1.11	0.98	1.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,598	5,302	-4,126	5,784	3,938	10,567	2,144	3,921	5,516	8,376
Operating Cash Flow to CapEx	315.77%	224.99%	28.43%	203.51%	136.80%	194.69%	451.75%	296.49%	206.20%	362.28%
Free Cash Flow to Firm to Interest Expense	7.62	13.92	-9.11	9.56	6.03	15.07	3.09	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	21.79	16.99	3.26	21.01	13.23	14.92	21.62	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	14.89	9.44	-8.22	10.69	3.56	7.26	16.84	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.58	1.57	1.55	1.50	1.37	1.41	1.48	1.43	1.28	1.29
Accounts Receivable Turnover	8.46	8.31	8.09	8.11	8.01	8.34	8.35	7.99	7.64	8.25
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.19	3.32	3.25	2.95	2.60	0.00	0.00	2.94	2.54	2.46
Accounts Payable Turnover	16.47	16.73	14.83	12.53	10.46	10.70	10.20	9.74	9.75	10.78
Days Sales Outstanding (DSO)	43.14	43.93	45.14	45.03	45.59	43.78	43.69	45.70	47.75	44.26
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	22.17	21.82	24.62	29.12	34.90	34.10	35.79	37.47	37.45	33.85
Cash Conversion Cycle (CCC)	20.97	22.11	20.52	15.91	10.69	9.68	7.91	8.23	10.31	10.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,626	11,461	20,761	20,568	22,756	17,785	25,591	31,870	33,506	31,709
Invested Capital Turnover	5.61	5.34	4.13	3.48	3.42	4.17	4.49	3.49	2.78	2.79
Increase / (Decrease) in Invested Capital	2,461	-165	9,300	-193	2,188	-4,971	7,806	6,279	1,636	-1,797
Enterprise Value (EV)	75,154	90,432	103,746	88,323	107,275	149,813	181,330	148,090	142,182	121,082
Market Capitalization	65,998	79,376	83,979	70,776	87,786	131,488	169,992	136,006	125,982	106,091
Book Value per Share	$2.77	$0.46	$1.15	$3.51	$3.81	$0.76	$16.40	$22.88	$20.31	$19.59
Tangible Book Value per Share	($2.81)	($5.86)	($5.62)	($3.34)	($3.16)	($5.77)	$9.29	$14.76	$10.72	$10.96
Total Capital	16,825	16,504	25,313	25,773	28,521	25,323	36,184	39,465	39,578	38,027
Total Debt	14,334	16,075	24,289	22,736	25,238	24,654	21,915	19,662	22,264	21,284
Total Long-Term Debt	11,316	12,394	20,278	19,931	21,818	22,031	19,784	17,321	18,916	19,446
Net Debt	9,135	11,032	19,737	17,531	19,473	18,313	11,322	12,067	16,192	14,966
Capital Expenditures (CapEx)	2,353	2,877	5,203	6,246	6,315	5,372	3,322	4,757	4,965	2,794
Debt-free, Cash-free Net Working Capital (DFCFNWC)	804	1,233	2,774	-107	-631	-493	-1,097	-1,177	-987	-1,611
Debt-free Net Working Capital (DFNWC)	5,530	5,800	6,843	4,928	5,110	5,823	9,496	6,418	5,085	4,707
Net Working Capital (NWC)	2,512	2,119	2,832	2,123	1,690	3,200	7,365	4,077	1,737	2,869
Net Nonoperating Expense (NNE)	215	1,715	269	800	1,686	4,253	-2,940	-1,348	444	797
Net Nonoperating Obligations (NNO)	9,135	11,032	19,737	17,531	19,473	17,116	11,322	12,067	16,192	14,966
Total Depreciation and Amortization (D&A)	2,084	2,224	2,282	2,207	2,360	2,698	2,953	3,188	3,366	3,609
Debt-free, Cash-free Net Working Capital to Revenue	1.38%	2.00%	4.17%	-0.15%	-0.85%	-0.58%	-1.13%	-1.17%	-1.09%	-1.77%
Debt-free Net Working Capital to Revenue	9.48%	9.41%	10.28%	6.86%	6.90%	6.88%	9.76%	6.40%	5.59%	5.17%
Net Working Capital to Revenue	4.30%	3.44%	4.25%	2.95%	2.28%	3.78%	7.57%	4.06%	1.91%	3.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.38	$3.89	$5.64	$5.53	$5.14	$1.55	$14.75	$13.26	$7.81	$6.76
Adjusted Weighted Average Basic Shares Outstanding	884.39M	870.03M	861.61M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Adjusted Diluted Earnings per Share	$5.35	$3.87	$5.61	$5.51	$5.11	$1.54	$14.68	$13.20	$7.80	$6.75
Adjusted Weighted Average Diluted Shares Outstanding	884.39M	870.03M	861.61M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	884.39M	870.03M	861.61M	860.23M	858.49M	1.73B	1.74B	1.72B	852.65M	854.17M
Normalized Net Operating Profit after Tax (NOPAT)	5,059	5,137	5,174	5,591	6,126	5,596	9,950	10,200	7,152	6,579
Normalized NOPAT Margin	8.67%	8.34%	7.77%	7.78%	8.27%	6.61%	10.23%	10.17%	7.86%	7.22%
Pre Tax Income Margin	12.58%	8.31%	10.72%	8.38%	7.63%	2.18%	17.06%	14.78%	9.43%	8.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	22.49	20.18	16.62	11.61	11.94	10.96	18.46	0.00	0.00	0.00
NOPAT to Interest Expense	14.84	13.48	11.42	9.24	9.38	7.98	14.34	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	15.59	12.63	5.13	1.29	2.27	3.30	13.67	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	7.94	5.93	-0.06	-1.08	-0.29	0.32	9.55	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	52.13%	77.24%	56.49%	62.85%	71.94%	251.23%	26.66%	44.28%	80.08%	93.38%
Augmented Payout Ratio	107.91%	155.49%	93.46%	83.95%	94.55%	267.91%	30.54%	74.59%	113.63%	102.02%

This table displays calculated financial ratios and metrics derived from United Parcel Service's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.21%	-2.66%	-5.96%	-10.95%	-12.83%	-7.83%	-5.32%	-1.07%	5.62%	1.54%
EBITDA Growth	6.96%	-12.10%	-15.94%	-16.03%	-43.92%	-18.10%	-25.60%	-21.54%	32.57%	14.98%
EBIT Growth	7.49%	-17.89%	-21.84%	-21.36%	-56.86%	-22.47%	-36.52%	-30.07%	47.80%	18.13%
NOPAT Growth	9.19%	-18.69%	-25.17%	-21.92%	-51.49%	-21.97%	-38.78%	-31.10%	33.99%	22.85%
Net Income Growth	10.95%	11.64%	-28.81%	-26.96%	-56.39%	-53.52%	-41.27%	-32.29%	36.56%	7.23%
EPS Growth	11.70%	12.82%	-27.72%	-25.54%	-55.74%	-52.53%	-40.64%	-31.82%	37.40%	6.38%
Operating Cash Flow Growth	-25.04%	2.65%	-47.39%	-15.11%	-9.92%	-27.64%	40.69%	-38.43%	-32.92%	37.49%
Free Cash Flow Firm Growth	-86.66%	20.12%	-1,019.27%	-539.55%	-6,130.72%	107.64%	125.52%	141.14%	131.78%	1,330.66%
Invested Capital Growth	10.02%	24.54%	32.71%	32.76%	27.31%	5.13%	-1.25%	-3.04%	-0.83%	-5.36%
Revenue Q/Q Growth	-2.44%	11.89%	-15.20%	-3.80%	-4.51%	18.31%	-12.89%	0.52%	1.96%	13.74%
EBITDA Q/Q Growth	-9.54%	5.04%	-17.34%	6.90%	-39.58%	53.39%	-24.91%	12.74%	2.08%	33.05%
EBIT Q/Q Growth	-11.94%	2.63%	-20.47%	9.41%	-51.69%	84.44%	-34.88%	20.52%	2.11%	47.41%
NOPAT Q/Q Growth	-9.67%	0.37%	-22.69%	11.40%	-43.88%	61.44%	-39.35%	25.39%	9.14%	48.02%
Net Income Q/Q Growth	-9.30%	33.63%	-45.12%	9.82%	-45.84%	42.41%	-30.65%	26.59%	9.23%	11.83%
EPS Q/Q Growth	-8.92%	33.78%	-44.70%	10.50%	-45.87%	43.51%	-30.85%	26.92%	9.09%	11.11%
Operating Cash Flow Q/Q Growth	-34.99%	34.41%	-29.26%	37.34%	-31.02%	7.97%	37.54%	-39.90%	-24.84%	121.30%
Free Cash Flow Firm Q/Q Growth	-92.84%	-3,999.38%	-62.39%	3.07%	1.75%	104.94%	442.38%	56.23%	-24.09%	122.41%
Invested Capital Q/Q Growth	4.63%	22.85%	3.05%	0.23%	0.33%	1.45%	-3.20%	-1.59%	2.63%	-3.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.02%	26.62%	26.60%	27.84%	19.41%	28.52%	23.94%	24.86%	77.70%	-19.77%
EBITDA Margin	16.09%	15.10%	14.72%	16.36%	10.35%	13.42%	11.57%	12.98%	12.99%	15.20%
Operating Margin	12.88%	11.82%	11.08%	12.60%	6.38%	9.94%	7.43%	8.91%	8.92%	11.56%
EBIT Margin	12.88%	11.82%	11.08%	12.60%	6.38%	9.94%	7.43%	8.91%	8.92%	11.56%
Profit (Net Income) Margin	10.69%	12.77%	8.27%	9.44%	5.35%	6.44%	5.13%	6.46%	6.92%	6.80%
Tax Burden Percent	79.05%	77.30%	75.14%	76.51%	88.88%	77.80%	72.46%	75.39%	80.58%	80.91%
Interest Burden Percent	105.01%	139.81%	99.25%	97.84%	94.42%	83.29%	95.23%	96.14%	96.22%	72.69%
Effective Tax Rate	20.95%	22.70%	24.86%	23.49%	11.12%	22.20%	27.54%	24.61%	19.42%	19.09%
Return on Invested Capital (ROIC)	41.57%	31.91%	28.60%	32.14%	17.89%	21.52%	14.81%	18.55%	19.82%	26.13%
ROIC Less NNEP Spread (ROIC-NNEP)	42.78%	40.31%	28.47%	31.71%	17.31%	19.24%	14.41%	18.14%	19.42%	21.98%
Return on Net Nonoperating Assets (RNNOA)	30.16%	27.67%	17.73%	18.64%	10.91%	14.65%	11.02%	13.57%	16.00%	20.11%
Return on Equity (ROE)	71.73%	59.58%	46.33%	50.78%	28.80%	36.17%	25.83%	32.11%	35.83%	46.25%
Cash Return on Invested Capital (CROIC)	33.97%	13.65%	5.11%	2.94%	2.03%	16.88%	20.91%	20.84%	19.55%	25.69%
Operating Return on Assets (OROA)	19.25%	16.88%	15.40%	17.26%	8.49%	12.74%	9.54%	11.41%	11.68%	14.95%
Return on Assets (ROA)	15.98%	18.24%	11.49%	12.92%	7.12%	8.25%	6.58%	8.27%	9.06%	8.79%
Return on Common Equity (ROCE)	71.64%	59.52%	46.29%	50.73%	28.78%	36.15%	25.80%	32.08%	35.79%	46.20%
Return on Equity Simple (ROE_SIMPLE)	65.94%	0.00%	53.80%	50.02%	44.64%	0.00%	35.05%	30.85%	33.61%	0.00%
Net Operating Profit after Tax (NOPAT)	2,461	2,470	1,909	2,127	1,194	1,927	1,169	1,466	1,599	2,367
NOPAT Margin	10.18%	9.14%	8.33%	9.64%	5.67%	7.73%	5.38%	6.72%	7.19%	9.36%
Net Nonoperating Expense Percent (NNEP)	-1.20%	-8.41%	0.13%	0.43%	0.58%	2.28%	0.39%	0.41%	0.41%	4.15%
Return On Investment Capital (ROIC_SIMPLE)	-	6.26%	-	-	-	4.87%	-	-	-	6.23%
Cost of Revenue to Revenue	72.98%	73.38%	73.40%	72.16%	80.59%	71.48%	76.06%	75.14%	22.30%	119.77%
SG&A Expenses to Revenue	10.93%	11.52%	11.88%	11.48%	9.05%	15.10%	12.37%	11.88%	64.71%	-34.96%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.13%	14.80%	15.52%	15.23%	13.03%	18.58%	16.51%	15.95%	68.78%	-31.33%
Earnings before Interest and Taxes (EBIT)	3,113	3,195	2,541	2,780	1,343	2,477	1,613	1,944	1,985	2,926
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,887	4,083	3,375	3,608	2,180	3,344	2,511	2,831	2,890	3,845
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.81	6.87	7.98	7.37	6.63	7.28	7.49	6.88	6.93	6.35
Price to Tangible Book Value (P/TBV)	12.15	10.65	12.32	11.45	10.44	13.80	14.46	12.23	12.51	11.34
Price to Revenue (P/Rev)	1.31	1.36	1.62	1.53	1.37	1.39	1.41	1.31	1.29	1.16
Price to Earnings (P/E)	11.85	11.78	14.83	14.73	14.86	18.78	21.37	22.28	20.61	18.35
Dividend Yield	4.33%	5.48%	4.14%	4.54%	5.31%	4.38%	4.37%	4.75%	4.77%	5.24%
Earnings Yield	8.44%	8.49%	6.75%	6.79%	6.73%	5.32%	4.68%	4.49%	4.85%	5.45%
Enterprise Value to Invested Capital (EV/IC)	5.45	4.65	5.26	4.87	4.27	4.24	4.38	4.16	4.05	3.82
Enterprise Value to Revenue (EV/Rev)	1.40	1.48	1.75	1.67	1.51	1.56	1.58	1.48	1.46	1.33
Enterprise Value to EBITDA (EV/EBITDA)	8.40	9.10	11.04	10.73	10.64	11.37	12.21	12.22	11.46	10.03
Enterprise Value to EBIT (EV/EBIT)	10.26	11.31	13.94	13.79	14.30	15.55	17.31	18.00	16.55	14.30
Enterprise Value to NOPAT (EV/NOPAT)	13.13	14.52	18.04	17.88	18.35	19.88	22.16	23.08	21.55	18.40
Enterprise Value to Operating Cash Flow (EV/OCF)	10.09	10.50	14.41	14.06	12.63	13.89	12.70	13.34	14.39	11.96
Enterprise Value to Free Cash Flow (EV/FCFF)	16.82	37.77	117.26	188.87	235.15	25.77	20.83	19.66	20.63	14.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	0.99	1.11	1.04	1.10	1.29	1.18	1.30	1.30	1.27
Long-Term Debt to Equity	1.05	0.87	0.99	0.97	0.98	1.09	1.11	1.18	1.20	1.16
Financial Leverage	0.71	0.69	0.62	0.59	0.63	0.76	0.76	0.75	0.82	0.91
Leverage Ratio	4.66	4.12	4.01	3.86	3.87	3.83	3.78	3.77	3.84	4.14
Compound Leverage Factor	4.89	5.77	3.98	3.78	3.65	3.19	3.60	3.62	3.70	3.01
Debt to Total Capital	54.50%	49.82%	52.53%	50.89%	52.41%	56.25%	54.17%	56.56%	56.50%	55.97%
Short-Term Debt to Total Capital	6.91%	5.93%	5.52%	3.46%	5.57%	8.46%	3.15%	5.11%	4.14%	4.83%
Long-Term Debt to Total Capital	47.59%	43.89%	47.01%	47.43%	46.85%	47.79%	51.02%	51.45%	52.36%	51.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.05%	0.04%	0.04%	0.04%	0.03%	0.02%	0.07%	0.06%	0.07%	0.07%
Common Equity to Total Capital	45.44%	50.14%	47.44%	49.07%	47.56%	43.73%	45.77%	43.38%	43.43%	43.96%
Debt to EBITDA	1.21	1.21	1.42	1.39	1.59	1.78	1.72	2.04	1.89	1.76
Net Debt to EBITDA	0.53	0.74	0.82	0.86	1.05	1.29	1.33	1.44	1.37	1.24
Long-Term Debt to EBITDA	1.05	1.06	1.27	1.29	1.43	1.51	1.62	1.86	1.76	1.61
Debt to NOPAT	1.89	1.93	2.32	2.31	2.75	3.11	3.12	3.86	3.56	3.24
Net Debt to NOPAT	0.83	1.18	1.34	1.44	1.80	2.26	2.42	2.72	2.58	2.27
Long-Term Debt to NOPAT	1.65	1.70	2.08	2.16	2.46	2.64	2.94	3.51	3.30	2.96
Altman Z-Score	3.64	3.64	3.83	3.77	3.35	3.26	3.36	3.21	3.25	3.10
Noncontrolling Interest Sharing Ratio	0.12%	0.10%	0.09%	0.11%	0.09%	0.07%	0.11%	0.11%	0.11%	0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.39	1.22	1.34	1.32	1.22	1.10	1.10	1.25	1.14	1.17
Quick Ratio	1.26	1.11	1.21	1.19	1.06	0.98	0.96	1.03	1.01	1.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	98	-3,809	-6,186	-5,996	-5,891	291	1,579	2,467	1,872	4,164
Operating Cash Flow to CapEx	279.48%	133.76%	390.23%	277.62%	173.24%	117.67%	324.46%	217.10%	177.70%	301.91%
Free Cash Flow to Firm to Interest Expense	0.55	0.00	-32.90	0.00	-29.60	0.00	8.10	0.00	8.14	0.00
Operating Cash Flow to Interest Expense	14.01	0.00	12.54	0.00	11.22	0.00	17.01	0.00	6.51	0.00
Operating Cash Flow Less CapEx to Interest Expense	8.99	0.00	9.32	0.00	4.74	0.00	11.76	0.00	2.85	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.49	1.43	1.39	1.37	1.33	1.28	1.28	1.28	1.31	1.29
Accounts Receivable Turnover	9.42	7.99	9.20	9.17	9.11	7.64	9.04	9.61	9.72	8.25
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.04	2.94	2.88	2.79	2.67	2.54	2.49	2.46	2.47	2.46
Accounts Payable Turnover	11.16	9.74	10.82	10.60	10.95	9.75	11.49	11.89	9.78	10.78
Days Sales Outstanding (DSO)	38.73	45.70	39.68	39.82	40.07	47.75	40.37	38.00	37.54	44.26
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	32.71	37.47	33.74	34.45	33.33	37.45	31.76	30.69	37.31	33.85
Cash Conversion Cycle (CCC)	6.02	8.23	5.94	5.37	6.74	10.31	8.61	7.31	0.24	10.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,942	31,870	32,843	32,917	33,027	33,506	32,433	31,916	32,754	31,709
Invested Capital Turnover	4.08	3.49	3.43	3.33	3.16	2.78	2.75	2.76	2.76	2.79
Increase / (Decrease) in Invested Capital	2,363	6,279	8,095	8,123	7,085	1,636	-410	-1,001	-273	-1,797
Enterprise Value (EV)	141,502	148,090	172,640	160,390	140,989	142,182	142,146	132,779	132,683	121,082
Market Capitalization	132,528	136,006	159,835	147,492	127,130	125,982	126,622	117,083	116,786	106,091
Book Value per Share	$19.53	$22.88	$23.33	$23.31	$22.43	$20.31	$19.76	$19.91	$19.68	$19.59
Tangible Book Value per Share	$12.55	$14.76	$15.11	$15.00	$14.25	$10.72	$10.23	$11.19	$10.90	$10.96
Total Capital	37,338	39,465	42,241	40,800	40,305	39,578	36,946	39,258	38,814	38,027
Total Debt	20,350	19,662	22,188	20,763	21,125	22,264	20,013	22,205	21,930	21,284
Total Long-Term Debt	17,769	17,321	19,856	19,351	18,882	18,916	18,849	20,197	20,324	19,446
Net Debt	8,954	12,067	12,790	12,880	13,847	16,192	15,500	15,673	15,870	14,966
Capital Expenditures (CapEx)	887	2,491	604	1,166	1,289	2,049	1,022	918	843	1,098
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,876	-1,177	-1,603	-1,718	-1,601	-987	-1,868	-786	-2,271	-1,611
Debt-free Net Working Capital (DFNWC)	9,500	6,418	7,795	6,165	5,677	5,085	2,645	5,746	3,789	4,707
Net Working Capital (NWC)	6,919	4,077	5,463	4,753	3,434	1,737	1,481	3,738	2,183	2,869
Net Nonoperating Expense (NNE)	-123	-983	14	46	67	322	56	57	60	646
Net Nonoperating Obligations (NNO)	8,954	12,067	12,790	12,880	13,847	16,192	15,500	14,863	15,870	14,966
Total Depreciation and Amortization (D&A)	774	888	834	828	837	867	898	887	905	919
Debt-free, Cash-free Net Working Capital to Revenue	-1.86%	-1.17%	-1.62%	-1.79%	-1.72%	-1.09%	-2.08%	-0.88%	-2.50%	-1.77%
Debt-free Net Working Capital to Revenue	9.40%	6.40%	7.88%	6.41%	6.10%	5.59%	2.95%	6.42%	4.18%	5.17%
Net Working Capital to Revenue	6.85%	4.06%	5.52%	4.94%	3.69%	1.91%	1.65%	4.18%	2.41%	3.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.97	$3.98	$2.20	$2.42	$1.31	$1.88	$1.30	$1.65	$1.80	$2.01
Adjusted Weighted Average Basic Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M
Adjusted Diluted Earnings per Share	$2.96	$3.96	$2.19	$2.42	$1.31	$1.88	$1.30	$1.65	$1.80	$2.00
Adjusted Weighted Average Diluted Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	864.92M	1.72B	858.89M	854.45M	851.93M	852.65M	855.56M	856.58M	853.37M	854.17M
Normalized Net Operating Profit after Tax (NOPAT)	2,461	2,470	1,909	2,127	1,194	1,927	1,169	1,466	1,599	2,367
Normalized NOPAT Margin	10.18%	9.14%	8.33%	9.64%	5.67%	7.73%	5.38%	6.72%	7.19%	9.36%
Pre Tax Income Margin	13.53%	16.52%	11.00%	12.33%	6.02%	8.28%	7.08%	8.57%	8.59%	8.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.59	0.00	13.52	0.00	6.75	0.00	8.27	0.00	8.63	0.00
NOPAT to Interest Expense	13.90	0.00	10.16	0.00	6.00	0.00	5.99	0.00	6.95	0.00
EBIT Less CapEx to Interest Expense	12.58	0.00	10.30	0.00	0.27	0.00	3.03	0.00	4.97	0.00
NOPAT Less CapEx to Interest Expense	8.89	0.00	6.94	0.00	-0.48	0.00	0.75	0.00	3.29	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.02%	44.28%	48.03%	52.33%	62.02%	80.08%	90.65%	102.40%	95.08%	93.38%
Augmented Payout Ratio	61.63%	74.59%	85.10%	89.84%	103.58%	113.63%	115.95%	116.71%	103.90%	102.02%

Frequently Asked Questions About United Parcel Service's Financials

When does United Parcel Service's financial year end?

According to the most recent income statement we have on file, United Parcel Service's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has United Parcel Service's net income changed over the last 9 years?

United Parcel Service's net income appears to be on an upward trend, with a most recent value of $5.78 billion in 2024, rising from $4.84 billion in 2015. The previous period was $6.71 billion in 2023.

What is United Parcel Service's operating income?

United Parcel Service's total operating income in 2024 was $8.47 billion, based on the following breakdown:

Total Gross Profit: $22.91 billion
Total Operating Expenses: $14.44 billion

How has United Parcel Service revenue changed over the last 9 years?

Over the last 9 years, United Parcel Service's total revenue changed from $58.36 billion in 2015 to $91.07 billion in 2024, a change of 56.0%.

How much debt does United Parcel Service have?

United Parcel Service's total liabilities were at $53.33 billion at the end of 2024, a 0.4% decrease from 2023, and a 48.9% increase since 2015.

How much cash does United Parcel Service have?

In the past 9 years, United Parcel Service's cash and equivalents has ranged from $2.73 billion in 2015 to $10.26 billion in 2021, and is currently $6.11 billion as of their latest financial filing in 2024.

How has United Parcel Service's book value per share changed over the last 9 years?

Over the last 9 years, United Parcel Service's book value per share changed from 2.77 in 2015 to 19.59 in 2024, a change of 606.2%.

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This page (NYSE:UPS) was last updated on 4/24/2025 by MarketBeat.com Staff

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United Parcel Service (UPS) Financials

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