What is United Parcel Service, Inc.'s earnings per share (EPS)?

United Parcel Service, Inc. (UPS) reported diluted earnings per share of $6.56 for fiscal year 2025. This represents a -2.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

United Parcel Service, Inc. (UPS) Financials

UPS

Trailing 12 months to June 30, 2026

Revenue $89.9B -0.4% YoY

Net Income $4.6B -20.2% YoY

EPS (Diluted) $5.38 -19.9% YoY

Free Cash Flow $5.5B +54.2% YoY

Market Cap $79.1B as of Oct 5, 2026

Price / Sales 0.9x on $89.9B revenue, trailing 12 months to June 30, 2026

Price / Earnings 17.3x on $4.6B net income, trailing 12 months to June 30, 2026

Price / Book 5.3x on $15.1B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UPS SEC filings page.

United Parcel Service, Inc. (UPS) reported $89.9B in revenue over the twelve months to Jun 30, 2026, down 0.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI UPS FY2025 2026-10-04

UPS is converting a smaller revenue base into less cash, while dividends and higher leverage increasingly shape how operations are financed.

From FY2022 to FY2025, revenue fell by double digits while operating margin narrowed from 13.1% to 8.9%; this mismatch indicates that weaker operating efficiency amplified the volume decline, rather than scale alone explaining the result. The relatively stable bottom-line margin suggests below-operating-line effects partly cushioned the deterioration without restoring the core operating engine.

In FY2025, operating cash flow of $8.5B became free cash flow of $4.8B after capital spending, showing that reinvestment absorbs a large share of internally generated cash. FCF margin was 5.4% versus 11.1% in FY2021, so the weakening extends beyond a single year's fluctuation.

FY2025 dividends of $5.4B exceeded FCF of $4.8B, meaning distributions were larger than cash left after capital spending. Debt-to-equity rose from 0.9x in FY2022 to 1.4x in FY2025, adding balance-sheet funding pressure even as short-term assets still exceeded short-term liabilities.

Financial Health Signals

Financial Health Score 49/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of United Parcel Service, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

United Parcel Service, Inc. has an operating margin of 8.9%, meaning the company retains $9 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is down from 9.3% the prior year.

Growth

United Parcel Service, Inc.'s revenue declined 2.6% year-over-year, from $91.1B to $88.7B. This contraction results in a growth score of 27/100.

Leverage

United Parcel Service, Inc. has a moderate D/E ratio of 1.45. This balance of debt and equity financing earns a leverage score of 36/100.

Liquidity

United Parcel Service, Inc.'s current ratio of 1.22 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

United Parcel Service, Inc. has a free cash flow margin of 5.4%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

United Parcel Service, Inc. earns a strong 34.3% return on equity (ROE), meaning it generates $34 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 80/100. This is down from 34.6% the prior year.

Altman Z-Score Grey Zone

2.85

United Parcel Service, Inc. scores 2.85, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/7

United Parcel Service, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.52x

For every $1 of reported earnings, United Parcel Service, Inc. generates $1.52 in operating cash flow ($8.4B OCF vs $5.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

7.74x

United Parcel Service, Inc. earns $7.74 in operating income for every $1 of interest expense ($7.9B vs $1.0B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$22.8B

YoY+7.6%

QoQ+7.7%

5Y CAGR-0.5%

10Y CAGR+4.6%

United Parcel Service, Inc. generated $22.8B in revenue in Q2 2026. This represents an increase of 7.6% from the same quarter a year earlier. Against the prior quarter it is up 7.7%.

EBITDA

$1.9B

YoY-30.7%

QoQ-7.2%

5Y CAGR-13.7%

10Y CAGR-3.0%

United Parcel Service, Inc.'s EBITDA was $1.9B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.7% from the same quarter a year earlier. Against the prior quarter it is down 7.2%.

Net Income

$604.0M

YoY-52.9%

QoQ-30.1%

5Y CAGR-25.7%

10Y CAGR-7.2%

United Parcel Service, Inc. reported $604.0M in net income in Q2 2026. This represents a decrease of 52.9% from the same quarter a year earlier. Against the prior quarter it is down 30.1%.

EPS (Diluted)

$0.71

YoY-53.0%

QoQ-30.4%

5Y CAGR-25.3%

10Y CAGR-6.8%

United Parcel Service, Inc. earned $0.71 per diluted share (EPS) in Q2 2026. This represents a decrease of 53.0% from the same quarter a year earlier. Against the prior quarter it is down 30.4%.

Cash & Balance Sheet

Free Cash Flow

$166.0M

YoY+121.4%

QoQ-86.1%

5Y CAGR-44.3%

10Y CAGR-19.7%

United Parcel Service, Inc. generated $166.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 121.4% from the same quarter a year earlier. Against the prior quarter it is down 86.1%.

Cash & Debt

$4.7B

YoY-24.9%

QoQ-19.8%

5Y CAGR-13.5%

10Y CAGR+4.3%

United Parcel Service, Inc. held $4.7B in cash against $23.9B in long-term debt as of Q2 2026.

Dividends Per Share

$1.64

YoY0.0%

QoQ0.0%

United Parcel Service, Inc. paid $1.64 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

Diluted avg 851M

United Parcel Service, Inc. had a weighted average of 851M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Margins & Returns

Operating Margin

4.1%

YoY-4.5pp

QoQ-1.9pp

5Y change-9.8pp

10Y change-9.9pp

United Parcel Service, Inc.'s operating margin was 4.1% in Q2 2026, reflecting core business profitability. This is down 4.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Net Margin

2.6%

YoY-3.4pp

QoQ-1.4pp

5Y change-8.8pp

10Y change-6.0pp

United Parcel Service, Inc.'s net profit margin was 2.6% in Q2 2026, showing the share of revenue converted to profit. This is down 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.4 percentage points.

Return on Equity

4.0%

YoY-4.1pp

QoQ-1.5pp

5Y change-20.8pp

10Y change-44.3pp

United Parcel Service, Inc.'s ROE was 4.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

YoY-100.0%

United Parcel Service, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$693.0M

YoY-38.3%

QoQ-32.8%

5Y CAGR-3.7%

10Y CAGR+2.6%

United Parcel Service, Inc. invested $693.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 38.3% from the same quarter a year earlier. Against the prior quarter it is down 32.8%.

R&D Spending

Not reported for Q2 2026.

UPS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UPS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$89.9B	$88.7B-2.6%	$91.1B+0.1%	$91.0B-9.3%	$100.3B+3.1%	$97.3B+15.0%	$84.6B+14.2%	$74.1B+3.1%	$71.9B+9.1%	$65.9B+8.2%	$60.9B+4.4%	$58.4B+0.2%	$58.2B+5.0%	$55.4B+2.4%	$54.1B+1.9%	$53.1B
SG&A Expenses	$49.4B	$48.6B+1.1%	$48.1B+2.1%	$47.1B-1.3%	$47.7B+2.3%	$46.6B+4.7%	$44.5B+14.4%	$38.9B+4.5%	$37.2B+7.7%	$34.6B+6.3%	$32.5B+4.9%	$31.0B-3.2%	$32.0B+12.2%	$28.6B-13.7%	$33.1B+20.0%	$27.6B
Operating Income	$6.6B	$7.9B-7.1%	$8.5B-7.4%	$9.1B-30.2%	$13.1B+2.2%	$12.8B+66.7%	$7.7B-1.5%	$7.8B+11.0%	$7.0B-6.7%	$7.5B-2.1%	$7.7B+0.3%	$7.7B+54.3%	$5.0B-29.4%	$7.0B+423.8%	$1.3B-77.9%	$6.1B
EBITDA	N/A	$10.9B-5.2%	$11.5B-4.0%	$11.9B-26.7%	$16.3B+3.3%	$15.8B+51.8%	$10.4B+2.2%	$10.2B+10.0%	$9.2B-5.9%	$9.8B-1.0%	$9.9B+1.6%	$9.8B+41.5%	$6.9B-22.6%	$8.9B+178.1%	$3.2B-59.3%	$7.9B
Interest Expense	$1.1B	$1.0B+17.4%	$866.0M+10.3%	$785.0M+11.5%	$704.0M+1.4%	$694.0M-1.0%	$701.0M+7.4%	$653.0M+7.9%	$605.0M+33.6%	$453.0M+18.9%	$381.0M+11.7%	$341.0M-3.4%	$353.0M-7.1%	$380.0M-3.3%	$393.0M+12.9%	$348.0M
Income Tax	$1.3B	$1.6B-4.1%	$1.7B-11.0%	$1.9B-43.1%	$3.3B-11.6%	$3.7B+639.5%	$501.0M-58.7%	$1.2B-1.3%	$1.2B-45.0%	$2.2B+31.4%	$1.7B-32.0%	$2.5B+55.6%	$1.6B-30.3%	$2.3B+1278.4%	$167.0M-91.5%	$2.0B
Net Income	$4.6B	$5.6B-3.6%	$5.8B-13.8%	$6.7B-41.9%	$11.5B-10.4%	$12.9B+859.8%	$1.3B-69.8%	$4.4B-7.3%	$4.8B-2.3%	$4.9B+43.3%	$3.4B-29.4%	$4.8B+59.8%	$3.0B-30.6%	$4.4B+441.8%	$807.0M-78.8%	$3.8B
EPS (Basic)	N/A	$6.56-3.0%	$6.76-13.4%	$7.81-41.1%	$13.26-10.1%	$14.75+851.6%	$1.55-69.8%	$5.14-7.1%	$5.53-1.8%	$5.63+45.1%	$3.88-27.9%	$5.38+62.5%	$3.31-28.8%	$4.65+453.6%	$0.84-78.4%	$3.88
EPS (Diluted)	$5.38	$6.56-2.8%	$6.75-13.5%	$7.80-40.9%	$13.20-10.1%	$14.68+853.2%	$1.54-69.9%	$5.11-7.3%	$5.51-1.8%	$5.61+45.3%	$3.86-27.9%	$5.35+63.1%	$3.28-28.9%	$4.61+455.4%	$0.83-78.4%	$3.84
Diluted Shares (Avg)	N/A	850M-0.7%	856M-0.5%	860M-1.7%	875M-0.3%	878M+0.8%	871M+0.2%	869M-0.1%	870M-0.6%	875M-1.4%	887M-2.1%	906M-1.9%	924M-2.5%	948M-2.2%	969M-2.2%	991M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$22.8B+7.6%	$21.2B-1.6%	$24.5B-3.2%	$21.4B-3.7%	$21.2B-2.7%	$21.5B-0.7%	$25.3B+1.5%	$22.2B+5.6%
SG&A Expenses	$12.7B+8.8%	$11.5B-2.4%	$13.0B+0.3%	$12.1B+1.4%	$11.6B+1.1%	$11.8B+1.6%	$13.0B+0.7%	$12.0B+3.7%
Operating Income	$930.0M-49.0%	$1.3B-23.9%	$2.6B-12.0%	$1.8B-9.1%	$1.8B-6.3%	$1.7B+3.3%	$2.9B+18.1%	$2.0B+47.8%
EBITDA	$1.9B-30.7%	$2.1B-14.6%	$3.0B-8.2%	$2.7B-5.5%	$2.8B-2.6%	$2.4B-4.1%	$3.2B+16.5%	$2.9B+32.6%
Interest Expense	$272.0M+14.3%	$266.0M+19.8%	$266.0M+16.2%	$291.0M+26.5%	$238.0M+12.3%	$222.0M+13.8%	$229.0M+10.6%	$230.0M+15.6%
Income Tax	$157.0M-58.6%	$260.0M-22.6%	$581.0M+43.1%	$296.0M-20.2%	$379.0M-17.6%	$336.0M-20.6%	$406.0M-11.4%	$371.0M+163.1%
Net Income	$604.0M-52.9%	$864.0M-27.2%	$1.8B+4.1%	$1.3B-14.8%	$1.3B-8.9%	$1.2B+6.6%	$1.7B+7.2%	$1.5B+36.6%
EPS (Basic)	$0.71-53.0%	$1.02-27.1%	$2.10+4.0%	$1.55-13.9%	$1.51-8.5%	$1.40+7.7%	$2.02+7.4%	$1.80+37.4%
EPS (Diluted)	$0.71-53.0%	$1.02-27.1%	$2.10+4.5%	$1.55-13.9%	$1.51-8.5%	$1.40+7.7%	$2.01+6.9%	$1.80+37.4%
Diluted Shares (Avg)	851M+0.5%	850M0.0%	N/A	848M-0.8%	847M-1.2%	850M-0.8%	N/A	855M-0.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

UPS Balance Sheet

UPS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$73.1B+4.3%	$70.1B-1.1%	$70.9B-0.4%	$71.1B+2.5%	$69.4B+11.2%	$62.4B+7.9%	$57.9B+15.7%	$50.0B+9.7%	$45.6B+12.4%	$40.5B+5.8%	$38.3B+8.1%	$35.4B-0.3%	$35.6B-8.5%	$38.9B+12.0%	$34.7B
Current Assets	$19.0B-1.4%	$19.3B-0.5%	$19.4B-12.6%	$22.2B-10.9%	$24.9B+23.3%	$20.2B+18.2%	$17.1B+5.5%	$16.2B+3.1%	$15.7B+13.5%	$13.8B+4.9%	$13.2B+17.7%	$11.2B-16.2%	$13.4B-14.1%	$15.6B+26.9%	$12.3B
Cash & Equivalents	$5.9B-3.7%	$6.1B+90.6%	$3.2B-42.8%	$5.6B-45.4%	$10.3B+73.5%	$5.9B+12.8%	$5.2B+24.0%	$4.2B+27.3%	$3.3B-4.5%	$3.5B+27.3%	$2.7B+19.2%	$2.3B-50.9%	$4.7B-36.3%	$7.3B+141.5%	$3.0B
Short-Term Investments	$0-100.0%	$206.0M-92.8%	$2.9B+43.8%	$2.0B+489.6%	$338.0M-16.7%	$406.0M-19.3%	$503.0M-37.9%	$810.0M+8.1%	$749.0M-31.3%	$1.1B-45.3%	$2.0B+101.2%	$992.0M+71.0%	$580.0M-2.8%	$597.0M-51.9%	$1.2B
Inventory	$739.0M-10.5%	$826.0M-11.7%	$935.0M+5.2%	$889.0M+24.0%	$717.0M+15.6%	$620.0M+21.3%	$511.0M+21.4%	$421.0M+4.2%	$404.0M+18.1%	$342.0M+11.0%	$308.0M-10.5%	$344.0M-14.6%	$403.0M+2.5%	$393.0M+13.9%	$345.0M
Accounts Receivable	$11.2B+3.1%	$10.9B-3.1%	$11.2B-10.9%	$12.6B+0.3%	$12.5B+16.7%	$10.8B+12.5%	$9.6B+6.6%	$9.0B+2.1%	$8.8B+14.0%	$7.7B+7.9%	$7.1B+7.1%	$6.7B+2.4%	$6.5B+6.4%	$6.1B-2.2%	$6.2B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.8B+35.7%	$4.3B-11.7%	$4.9B+15.4%	$4.2B+14.4%	$3.7B+9.7%	$3.4B-11.7%	$3.8B+0.1%	$3.8B-1.6%	$3.9B+3.1%	$3.8B+9.9%	$3.4B+56.5%	$2.2B-0.3%	$2.2B+0.8%	$2.2B+3.4%	$2.1B
Total Liabilities	$56.9B+6.6%	$53.4B-0.4%	$53.6B+4.3%	$51.3B-6.9%	$55.2B-10.7%	$61.8B+13.1%	$54.6B+16.2%	$47.0B+5.4%	$44.6B+11.1%	$40.1B+12.0%	$35.8B+7.6%	$33.3B+14.5%	$29.1B-15.0%	$34.2B+23.7%	$27.7B
Current Liabilities	$15.6B-5.0%	$16.4B-7.0%	$17.7B-2.6%	$18.1B+3.3%	$17.6B+3.2%	$17.0B+10.4%	$15.4B+9.4%	$14.1B+9.3%	$12.9B+9.9%	$11.7B+9.7%	$10.7B+24.1%	$8.6B+20.9%	$7.1B-15.0%	$8.4B+28.8%	$6.5B
Non-Current Liabilities	$41.2B+11.7%	$36.9B+2.9%	$35.9B+8.1%	$33.2B-11.7%	$37.6B-16.0%	$44.7B+14.2%	$39.2B+19.1%	$32.9B+3.8%	$31.7B+11.6%	$28.4B+13.0%	$25.1B+1.9%	$24.7B+12.4%	$21.9B-15.0%	$25.8B+22.1%	$21.2B
Long-Term Debt	$23.5B+20.9%	$19.4B+2.8%	$18.9B+9.2%	$17.3B-12.4%	$19.8B-10.2%	$22.0B+1.0%	$21.8B+9.5%	$19.9B-1.7%	$20.3B+63.6%	$12.4B+9.5%	$11.3B+14.8%	$9.9B-8.9%	$10.8B-2.4%	$11.1B-0.1%	$11.1B
Total Equity	$16.2B-2.9%	$16.7B-3.4%	$17.3B-12.5%	$19.8B+38.8%	$14.3B+2069.4%	$657.0M-79.9%	$3.3B+8.1%	$3.0B+203.9%	$994.0M+145.4%	$405.0M-83.6%	$2.5B+15.4%	$2.1B-66.9%	$6.5B+39.1%	$4.7B-33.9%	$7.0B
Retained Earnings	$20.2B-3.5%	$20.9B-0.8%	$21.1B-1.3%	$21.3B+31.8%	$16.2B+134.6%	$6.9B-24.3%	$9.1B+13.7%	$8.0B+36.8%	$5.9B+19.9%	$4.9B-18.7%	$6.0B+4.8%	$5.7B-17.3%	$6.9B-13.4%	$8.0B-21.0%	$10.1B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$71.3B+0.5%	$71.8B+4.9%	$73.1B+4.3%	$71.4B+4.6%	$70.9B+2.2%	$68.5B+1.2%	$70.1B-1.1%	$68.3B-2.9%
Current Assets	$17.5B-6.9%	$17.8B+4.1%	$19.0B-1.4%	$19.0B+10.0%	$18.9B+0.1%	$17.1B+5.6%	$19.3B-0.5%	$17.3B-10.3%
Cash & Equivalents	$4.7B-24.9%	$5.8B+20.8%	$5.9B-3.7%	$6.8B+15.5%	$6.2B-2.0%	$4.8B+12.2%	$6.1B+90.6%	$5.9B+35.8%
Short-Term Investments	$0-100.0%	$0-100.0%	$0-100.0%	$68.0M-66.8%	$92.0M-56.8%	$263.0M+13.4%	$206.0M-92.8%	$205.0M-93.1%
Inventory	N/A	N/A	$739.0M-10.5%	N/A	N/A	N/A	$826.0M-11.7%	N/A
Accounts Receivable	$10.7B+2.7%	$9.9B+0.6%	$11.2B+3.1%	$10.0B+8.4%	$10.4B+15.3%	$9.9B+3.5%	$10.9B-3.1%	$9.2B-2.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.8B+20.1%	$5.8B+23.6%	$5.8B+35.7%	$4.8B+9.0%	$4.8B+10.5%	$4.7B-3.2%	$4.3B-11.7%	$4.4B+7.7%
Total Liabilities	$56.2B+1.9%	$56.0B+6.1%	$56.9B+6.6%	$55.6B+8.1%	$55.2B+5.3%	$52.8B+4.1%	$53.4B-0.4%	$51.4B+0.6%
Current Liabilities	$14.9B+4.5%	$14.7B-6.3%	$15.6B-5.0%	$14.6B-3.5%	$14.2B-5.6%	$15.7B+6.6%	$16.4B-7.0%	$15.1B-4.7%
Non-Current Liabilities	$41.3B+0.9%	$41.4B+11.4%	$41.2B+11.7%	$41.0B+12.9%	$40.9B+9.7%	$37.1B+3.1%	$36.9B+2.9%	$36.3B+2.9%
Long-Term Debt	$23.9B+0.1%	$23.7B+21.7%	$23.5B+20.9%	$23.9B+17.3%	$23.8B+17.9%	$19.5B+3.5%	$19.4B+2.8%	$20.3B+7.6%
Total Equity	$15.1B-4.3%	$15.8B+0.7%	$16.2B-2.9%	$15.8B-6.1%	$15.8B-7.5%	$15.7B-7.4%	$16.7B-3.4%	$16.9B-12.1%
Retained Earnings	$18.8B-5.1%	$19.6B-1.6%	$20.2B-3.5%	$19.8B-3.9%	$19.8B-4.2%	$19.9B-3.6%	$20.9B-0.8%	$20.6B-0.7%

UPS Cash Flow Statement

UPS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$8.9B	$8.4B-16.5%	$10.1B-1.1%	$10.2B-27.4%	$14.1B-6.0%	$15.0B+43.5%	$10.5B+21.1%	$8.6B-32.0%	$12.7B+759.4%	$1.5B-77.2%	$6.5B-12.9%	$7.4B+29.8%	$5.7B-21.6%	$7.3B+1.2%	$7.2B+2.0%	$7.1B
Depreciation & Amortization	N/A	$3.0B0.0%	$3.0B+7.1%	$2.8B-12.2%	$3.2B+8.0%	$3.0B+9.5%	$2.7B+14.3%	$2.4B+6.9%	$2.2B-3.3%	$2.3B+2.6%	$2.2B+6.7%	$2.1B+8.4%	$1.9B+3.0%	$1.9B+0.5%	$1.9B+4.3%	$1.8B
Stock-Based Compensation	N/A	$73.0M+204.2%	$24.0M-89.1%	$220.0M-86.0%	$1.6B+78.6%	$878.0M+10.3%	$796.0M-13.0%	$915.0M+44.3%	$634.0M+8.6%	$584.0M-1.2%	$591.0M+3.0%	$574.0M+7.1%	$536.0M+4.5%	$513.0M-6.2%	$547.0M+4.4%	$524.0M
Capital Expenditures	$3.4B	$3.7B-5.7%	$3.9B-24.2%	$5.2B+8.2%	$4.8B+13.7%	$4.2B-22.5%	$5.4B-15.2%	$6.4B+1.5%	$6.3B+20.2%	$5.2B+76.3%	$3.0B+24.6%	$2.4B+2.2%	$2.3B+12.7%	$2.1B-4.1%	$2.2B+7.4%	$2.0B
Free Cash Flow	$5.5B	$4.8B-23.3%	$6.2B+22.3%	$5.1B-45.6%	$9.3B-13.7%	$10.8B+114.2%	$5.0B+123.4%	$2.3B-64.9%	$6.4B+271.5%	-$3.7B-206.8%	$3.5B-30.5%	$5.1B+48.6%	$3.4B-35.1%	$5.2B+3.5%	$5.1B-0.1%	$5.1B
Investing Cash Flow	-$4.0B	-$4.7B-2082.0%	-$217.0M+97.0%	-$7.1B+4.5%	-$7.5B-95.7%	-$3.8B+27.7%	-$5.3B+12.8%	-$6.1B+4.2%	-$6.3B-27.3%	-$5.0B-94.0%	-$2.6B+51.7%	-$5.3B-89.5%	-$2.8B-32.5%	-$2.1B-58.4%	-$1.3B+47.4%	-$2.5B
Financing Cash Flow	-$6.4B	-$4.1B+39.5%	-$6.8B-23.8%	-$5.5B+50.5%	-$11.2B-63.9%	-$6.8B-51.1%	-$4.5B-161.6%	-$1.7B+69.7%	-$5.7B-273.2%	$3.3B+204.7%	-$3.1B-100.6%	-$1.6B+69.7%	-$5.2B+33.9%	-$7.8B-329.7%	-$1.8B+62.6%	-$4.9B
Dividends Paid	$5.4B	$5.4B0.0%	$5.4B+0.5%	$5.4B+5.0%	$5.1B+48.8%	$3.4B+1.9%	$3.4B+5.6%	$3.2B+6.1%	$3.0B+8.7%	$2.8B+4.8%	$2.6B+4.7%	$2.5B+6.7%	$2.4B+4.7%	$2.3B+6.1%	$2.1B+6.7%	$2.0B
Share Buybacks	$0	$1.0B+100.0%	$500.0M-77.8%	$2.3B-35.7%	$3.5B+600.0%	$500.0M+123.2%	$224.0M-77.7%	$1.0B-0.7%	$1.0B-44.2%	$1.8B-32.3%	$2.7B-0.9%	$2.7B+0.3%	$2.7B-29.8%	$3.8B+136.8%	$1.6B-39.2%	$2.7B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$859.0M+146.8%	$2.2B-4.1%	$3.3B-0.4%	$2.5B+65.7%	$348.0M-82.5%	$2.3B-30.1%	$3.3B+37.5%	$1.5B-32.9%
Depreciation & Amortization	$980.0M+4.7%	$791.0M+6.5%	$395.0M+27.4%	$926.0M+2.3%	$936.0M+5.5%	$743.0M-17.3%	$310.0M+3.0%	$905.0M+8.1%
Stock-Based Compensation	$34.0M+780.0%	$24.0M+14.3%	N/A	$25.0M+204.2%	-$5.0M-116.7%	$21.0M+177.8%	N/A	-$24.0M-214.3%
Capital Expenditures	$693.0M-38.3%	$1.0B+17.7%	$716.0M-34.8%	$970.0M+15.1%	$1.1B+20.4%	$876.0M-15.4%	$1.1B-46.4%	$843.0M-34.6%
Free Cash Flow	$166.0M+121.4%	$1.2B-17.3%	$2.6B+16.6%	$1.5B+130.8%	-$775.0M-173.1%	$1.4B-36.8%	$2.2B+512.4%	$655.0M-30.6%
Investing Cash Flow	-$566.0M+38.7%	-$944.0M+30.3%	-$2.0B-89.3%	-$456.0M-343.9%	-$923.0M-1.1%	-$1.4B-186.5%	-$1.1B+67.0%	$187.0M+117.5%
Financing Cash Flow	-$1.4B-179.7%	-$1.3B+42.6%	-$2.2B-18.8%	-$1.4B+36.1%	$1.8B+99.6%	-$2.3B+36.9%	-$1.8B-429.2%	-$2.2B-39.5%
Dividends Paid	$1.4B+0.5%	$1.4B+0.3%	$1.4B+0.2%	$1.3B0.0%	$1.3B-0.3%	$1.3B0.0%	$1.4B+0.9%	$1.3B+0.5%
Share Buybacks	$0-100.0%	$0-100.0%	$0	$0-100.0%	$1.0B	$1.0B	$0	$500.0M-33.5%

UPS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UPS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	8.9%-0.4pp	9.3%-0.8pp	10.1%-3.0pp	13.1%-0.1pp	13.2%+4.1pp	9.1%-1.4pp	10.5%+0.8pp	9.8%-1.7pp	11.4%-1.2pp	12.6%-0.5pp	13.1%+4.6pp	8.5%-4.2pp	12.7%+10.2pp	2.5%-9.0pp	11.5%
Net Margin	6.3%-0.1pp	6.3%-1.0pp	7.4%-4.1pp	11.5%-1.7pp	13.3%+11.7pp	1.6%-4.4pp	6.0%-0.7pp	6.7%-0.8pp	7.4%+1.8pp	5.6%-2.7pp	8.3%+3.1pp	5.2%-2.7pp	7.9%+6.4pp	1.5%-5.7pp	7.2%
Return on Equity	34.3%-0.3pp	34.6%-4.2pp	38.8%-19.6pp	58.4%-32.1pp	90.4%-114.0pp	204.4%+68.5pp	135.9%-22.7pp	158.6%-334.9pp	493.5%-351.5pp	844.9%+648.8pp	196.1%+54.5pp	141.6%+74.1pp	67.5%+50.2pp	17.3%-36.7pp	54.1%
Return on Assets	7.6%-0.6pp	8.3%-1.2pp	9.5%-6.8pp	16.2%-2.3pp	18.6%+16.4pp	2.1%-5.5pp	7.7%-1.9pp	9.6%-1.2pp	10.8%+2.3pp	8.4%-4.2pp	12.6%+4.1pp	8.6%-3.7pp	12.3%+10.2pp	2.1%-8.9pp	11.0%
Current Ratio	1.220.0x	1.17+0.1x	1.10-0.1x	1.22-0.2x	1.42+0.2x	1.19+0.1x	1.110.0x	1.15-0.1x	1.220.0x	1.18-0.1x	1.23-0.1x	1.30-0.6x	1.880.0x	1.860.0x	1.89
Debt-to-Equity	1.45+0.3x	1.16+0.1x	1.09+0.2x	0.88-0.5x	1.39-32.1x	33.53+26.9x	6.68+0.1x	6.60-13.8x	20.40-10.2x	30.60+26.0x	4.580.0x	4.60+2.9x	1.67-0.7x	2.38+0.8x	1.58
Asset Turnover	1.21-0.1x	1.300.0x	1.28-0.1x	1.410.0x	1.400.0x	1.36+0.1x	1.28-0.2x	1.440.0x	1.45-0.1x	1.500.0x	1.52-0.1x	1.64+0.1x	1.56+0.2x	1.39-0.1x	1.53
FCF Margin	5.4%-1.4pp	6.8%+1.2pp	5.6%-3.7pp	9.3%-1.8pp	11.1%+5.2pp	6.0%+2.9pp	3.0%-5.9pp	8.9%+14.6pp	-5.7%-11.4pp	5.8%-2.9pp	8.6%+2.8pp	5.8%-3.6pp	9.4%+0.1pp	9.3%-0.2pp	9.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	4.1%-4.5pp	6.0%-1.7pp	10.5%-1.0pp	8.4%-0.5pp	8.6%-0.3pp	7.7%+0.3pp	11.6%+1.6pp	8.9%+2.5pp
Net Margin	2.6%-3.4pp	4.1%-1.4pp	7.3%+0.5pp	6.1%-0.8pp	6.0%-0.4pp	5.5%+0.4pp	6.8%+0.4pp	6.9%+1.6pp
Return on Equity	4.0%-4.1pp	5.5%-2.1pp	11.0%+0.7pp	8.3%-0.8pp	8.2%-0.1pp	7.6%+1.0pp	10.3%+1.0pp	9.1%+3.3pp
Return on Assets	0.9%-1.0pp	1.2%-0.5pp	2.5%0.0pp	1.8%-0.4pp	1.8%-0.2pp	1.7%+0.1pp	2.5%+0.2pp	2.3%+0.6pp
Current Ratio	1.18-0.1x	1.21+0.1x	1.220.0x	1.30+0.2x	1.32+0.1x	1.090.0x	1.17+0.1x	1.14-0.1x
Debt-to-Equity	1.58+0.1x	1.51+0.3x	1.45+0.3x	1.51+0.3x	1.51+0.3x	1.25+0.1x	1.16+0.1x	1.21+0.2x
Asset Turnover	0.320.0x	0.300.0x	0.330.0x	0.300.0x	0.300.0x	0.310.0x	0.360.0x	0.330.0x
FCF Margin	0.7%+4.4pp	5.6%-1.1pp	10.6%+1.8pp	7.1%+4.1pp	-3.6%-8.5pp	6.7%-3.8pp	8.8%+7.3pp	2.9%-1.5pp

Not reported in any period shown, so not listed: Gross Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
United Parcel Service, Inc. UPS	FY2025	$88.7B	$5.6B	6.3%	$79.1B	49/100
FedEx Corporation FDX	FY2026	$94.7B	$4K	0.0%	$68.7B	51/100
Expeditors International of Washington, Inc. EXPD	FY2025	$11.1B	$810.3M	7.3%	$25.0B	65/100
C.H. Robinson Worldwide, Inc. CHRW	FY2025	$16.2B	$587.1M	3.6%	$18.4B	48/100
JB Hunt Transport Services Inc JBHT	FY2025	$12.0B	$598.3M	5.0%	$22.0B	48/100
ZTO Express (Cayman) Inc. ZTO	FY2025	$7.0B	$1.3B	18.5%	$14.6B	72/100

Where United Parcel Service, Inc. Ranks

Frequently Asked Questions

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

United Parcel Service, Inc. (UPS) reported $88.7B in total revenue for fiscal year 2025. This represents a -2.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is United Parcel Service, Inc.'s revenue growing?

United Parcel Service, Inc. (UPS) revenue declined by 2.6% year-over-year, from $91.1B to $88.7B in fiscal year 2025.

Is United Parcel Service, Inc. profitable?

Yes, United Parcel Service, Inc. (UPS) reported a net income of $5.6B in fiscal year 2025, with a net profit margin of 6.3%.

What is United Parcel Service, Inc.'s EBITDA?

United Parcel Service, Inc. (UPS) had EBITDA of $10.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does United Parcel Service, Inc. have?

As of fiscal year 2025, United Parcel Service, Inc. (UPS) had $5.9B in cash and equivalents against $23.5B in long-term debt.

What is United Parcel Service, Inc.'s operating margin?

United Parcel Service, Inc. (UPS) had an operating margin of 8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

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

United Parcel Service, Inc. (UPS) had a net profit margin of 6.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does United Parcel Service, Inc. pay dividends?

Yes, United Parcel Service, Inc. (UPS) paid $6.56 per share in dividends during fiscal year 2025.

What is United Parcel Service, Inc.'s return on equity (ROE)?

United Parcel Service, Inc. (UPS) has a return on equity of 34.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is United Parcel Service, Inc.'s free cash flow?

United Parcel Service, Inc. (UPS) generated $4.8B in free cash flow during fiscal year 2025. This represents a -23.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is United Parcel Service, Inc.'s operating cash flow?

United Parcel Service, Inc. (UPS) generated $8.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are United Parcel Service, Inc.'s total assets?

United Parcel Service, Inc. (UPS) had $73.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are United Parcel Service, Inc.'s capital expenditures?

United Parcel Service, Inc. (UPS) invested $3.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does United Parcel Service, Inc. buy back shares?

Yes, United Parcel Service, Inc. (UPS) spent $1.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is United Parcel Service, Inc.'s current ratio?

United Parcel Service, Inc. (UPS) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.

What is United Parcel Service, Inc.'s debt-to-equity ratio?

United Parcel Service, Inc. (UPS) had a debt-to-equity ratio of 1.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is United Parcel Service, Inc.'s return on assets (ROA)?

United Parcel Service, Inc. (UPS) had a return on assets of 7.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is United Parcel Service, Inc.'s P/E ratio?

United Parcel Service, Inc. (UPS) trades at 17.3x earnings, its market capitalization divided by net income of $4.6B net income, trailing 12 months to June 30, 2026. The market capitalization is $79.1B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is United Parcel Service, Inc.'s price-to-sales ratio?

United Parcel Service, Inc. (UPS) trades at 0.9x sales, its market capitalization divided by revenue of $89.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $79.1B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is United Parcel Service, Inc.'s Altman Z-Score?

United Parcel Service, Inc. (UPS) has an Altman Z-Score of 2.85, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is United Parcel Service, Inc.'s Piotroski F-Score?

United Parcel Service, Inc. (UPS) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are United Parcel Service, Inc.'s earnings high quality?

United Parcel Service, Inc. (UPS) has an earnings quality ratio of 1.52x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can United Parcel Service, Inc. cover its interest payments?

United Parcel Service, Inc. (UPS) has an interest coverage ratio of 7.74x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is United Parcel Service, Inc.?

United Parcel Service, Inc. (UPS) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.