NYSE · Financial Statements

United Parcel Service, Inc. (UPS) Financial Statements

$101.06 NYSE: UPS Market Cap $75.73B

United Parcel Service, Inc. most recently reported annual revenue of $88.7B, net profit of $5.6B. Revenue grew at an average annual rate of 1.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

United Parcel Service, Inc.: Revenue rose from $60.5B in 2016 to $88.7B in 2025, a change of +46.5% over 9 years; net profit was positive in all 10 reported years; operating margin was broadly flat at about 8.9%; the most recent year shows net profit of $5.6B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$60.5B$66.5B$71.9B$73.9B$84.4B$97.2B$100.0B$90.7B$90.9B$88.7B
Operating Expenses$55.4B$59.1B$64.8B$66.0B$76.6B$84.1B$87.1B$81.4B$82.2B$80.8B
Operating Profit$5.1B$7.5B$7.1B$7.9B$7.8B$13.1B$13.0B$9.4B$8.7B$7.9B
Operating Margin8.4%11.3%9.8%10.7%9.3%13.5%13.0%10.3%9.6%8.9%
Other Income$65.0M$-357.0M$-1.1B$-2.2B$-6.0B$3.5B$1.9B$-798.0M$-1.2B$-703.0M
Interest$347.0M$417.0M$572.0M$629.0M$684.0M$683.0M$694.0M$775.0M$861.0M$1.0B
Depreciation$2.2B$2.3B$2.2B$2.4B$2.7B$3.0B$3.2B$3.4B$3.6B$3.7B
Profit Before Tax$5.1B$7.1B$6.0B$5.7B$1.8B$16.6B$14.8B$8.6B$7.4B$7.2B
Tax$33.2M$31.3M$20.4M$21.4M$27.2M$22.3M$22.1M$21.8M$22.3M$22.2M
Net Profit$3.4B$4.9B$4.8B$4.4B$1.3B$12.9B$11.5B$6.7B$5.8B$5.6B
EPS$3.87$5.61$5.51$5.11$1.54$14.68$13.20$7.80$6.76$6.56
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$21.0B$24.9B$21.7B$21.8B$22.2B$25.2B$21.5B$21.2B$21.4B$24.5B$21.2B$22.8B
Operating Expenses$19.6B$22.2B$20.0B$19.8B$20.1B$22.3B$19.9B$19.4B$19.6B$21.9B$19.9B$21.9B
Operating Profit$1.5B$2.6B$1.7B$1.9B$2.1B$3.0B$1.7B$1.8B$1.8B$2.6B$1.3B$930.0M
Operating Margin6.9%10.6%7.9%8.9%9.5%11.8%7.7%8.6%8.4%10.5%6.0%4.1%
Interest$193.0M$206.0M$194.0M$210.0M$229.0M$228.0M$221.0M$236.0M$290.0M$266.0M$266.0M$804.0M
Profit Before Tax$1.3B$2.1B$1.5B$1.9B$1.9B$2.1B$1.5B$1.7B$1.6B$2.4B$1.1B$761.0M
Tax$11.1M$22.2M$27.5M$24.6M$19.4M$19.1M$22.1M$22.8M$18.4M$24.5M$23.1M$20.6M
Net Profit$1.1B$1.6B$1.1B$1.4B$1.5B$1.7B$1.2B$1.3B$1.3B$1.8B$864.0M$604.0M
EPS$1.31$1.87$1.30$1.64$1.80$2.02$1.40$1.51$1.55$2.10$1.02$0.71

Over the 10 years reported for United Parcel Service, Inc., borrowings increased from $16.5B in 2016 to $32.3B in 2025, cash stood at $5.9B in the latest year, shareholders' equity was $9.0M, current assets covered current liabilities 1.22 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$40.4B$45.6B$50.0B$57.9B$62.4B$69.4B$71.1B$70.9B$70.1B$73.1B
Current Assets$13.8B$15.7B$16.2B$17.1B$20.2B$24.9B$22.2B$19.4B$19.3B$19.0B
Cash$3.5B$3.3B$4.2B$5.2B$5.9B$10.3B$5.6B$3.2B$6.1B$5.9B
Inventory$342.0M$404.0M$421.0M$511.0M$620.0M$717.0M$889.0M$935.0M$826.0M$0
Receivables$8.3B$10.3B$9.9B$9.6B$10.8B$12.5B$12.6B$11.2B$10.9B$11.2B
Fixed Assets$18.8B$22.1B$26.6B$33.3B$35.3B$37.0B$38.5B$41.3B$41.3B$42.0B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$1.1B$768.0M$829.0M$524.0M$429.0M$361.0M$2.0B$2.9B$206.0M$300.0M
Other Assets$3.8B$3.9B$3.8B$3.8B$3.4B$3.7B$4.2B$4.9B$4.3B$5.8B
Total Liabilities$39.9B$44.5B$47.0B$54.6B$61.7B$55.1B$51.3B$53.5B$53.3B$56.8B
Current Liabilities$11.9B$12.7B$14.1B$15.4B$17.0B$17.6B$18.1B$17.7B$16.4B$15.6B
Borrowings$16.5B$24.8B$22.7B$28.2B$27.8B$25.5B$23.5B$26.7B$25.7B$32.3B
Other Liabilities$23.4B$19.8B$24.2B$26.4B$34.0B$29.6B$27.8B$26.8B$27.7B$24.5B
Equity$9.0M$9.0M$9.0M$9.0M$9.0M$9.0M$9.0M$9.0M$9.0M$9.0M
Reserves$405.0M$994.0M$3.0B$3.3B$657.0M$14.3B$19.8B$17.3B$16.7B$16.2B

For United Parcel Service, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $4.8B; free cash flow was positive in 9 of 10 years; financing activities used $986.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$6.5B$1.5B$12.7B$8.6B$10.5B$15.0B$14.1B$10.2B$10.1B$8.4B
Investing Cash Flow$-5.5B$-10.2B$-12.6B$-12.4B$-10.7B$-8.0B$-12.2B$-12.3B$-4.1B$-8.4B
Financing Cash Flow$-2.5B$-2.0B$-1.1B$-642.0M$-577.0M$-864.0M$-4.0B$-2.7B$-709.0M$-986.0M
Net Cash Flow$746.0M$-156.0M$598.0M$871.0M$672.0M$4.3B$-4.7B$-2.4B$2.9B$-225.0M
Free Cash Flow$3.5B$-3.7B$6.4B$2.3B$5.0B$10.8B$9.3B$5.1B$6.2B$4.8B

Valuation & Return Ratios

MetricValue
PEG Ratio-0.88
EV / EBITDA9.79
FCF Yield6.87%
Quick Ratio1.18
Interest Coverage4.04
Return 1Y23.75%
Return 3Y-19.65%
Return 5Y-37.43%

United Parcel Service, Inc. (UPS) financials — frequently asked questions

What is United Parcel Service, Inc.'s annual revenue?

United Parcel Service, Inc. (UPS) reported annual revenue of $88.7B in its most recent fiscal year.

What is United Parcel Service, Inc.'s net profit?

United Parcel Service, Inc. (UPS) reported net profit of $5.6B in its most recent fiscal year.

What is UPS EV/EBITDA?

United Parcel Service, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 9.79.

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