United Parcel Service (UPS)

NYSE Industrials Air Freight & Logistics S&P 500

$108.30

-2.74 (-2.47%)

Close of Nov 06, 2026 · end-of-day data

Source: United Parcel Service's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$61.61B	$66.58B	$71.86B	$74.09B	$84.63B	$97.29B	$100.34B	$90.96B	$91.07B	$88.66B
Operating income	$7.69B	$7.53B	$7.02B	$7.80B	$7.68B	$12.81B	$13.09B	$9.14B	$8.47B	$7.87B
Interest expense	$381.00M	$453.00M	$605.00M	$653.00M	$701.00M	$694.00M	$704.00M	$785.00M	$866.00M	$1.02B
Pre-tax income	$5.12B	$7.14B	$6.02B	$5.65B	$1.84B	$16.59B	$14.82B	$8.57B	$7.44B	$7.16B
Income tax	$1.70B	$2.23B	$1.23B	$1.21B	$501.00M	$3.71B	$3.28B	$1.86B	$1.66B	$1.59B
Net income	$3.42B	$4.91B	$4.79B	$4.44B	$1.34B	$12.89B	$11.55B	$6.71B	$5.78B	$5.57B
EBITDA	$9.91B	$9.81B	$9.23B	$10.16B	$10.38B	$15.76B	$16.28B	$11.94B	$11.47B	$10.87B
EPS (basic)	$3.88	$5.63	$5.53	$5.14	$1.55	$14.75	$13.26	$7.81	$6.76	$6.56
EPS (diluted)	$3.86	$5.61	$5.51	$5.11	$1.54	$14.68	$13.20	$7.80	$6.75	$6.56
Diluted shares	887.00M	875.00M	870.00M	869.00M	871.00M	878.00M	875.00M	860.00M	856.00M	850.00M
Operating margin	12.5%	11.3%	9.8%	10.5%	9.1%	13.2%	13.0%	10.0%	9.3%	8.9%
Net margin	5.6%	7.4%	6.7%	6.0%	1.6%	13.2%	11.5%	7.4%	6.3%	6.3%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$3.48B	$3.32B	$4.22B	$5.24B	$5.91B	$10.26B	$5.60B	$3.21B	$6.11B	$5.89B
Short-term investments	$1.09B	$749.00M	$810.00M	$503.00M	$406.00M	$338.00M	$1.99B	$2.87B	$206.00M	—
Receivables	$7.70B	$8.77B	$8.96B	$9.55B	$10.75B	$12.54B	$12.58B	$11.22B	$10.87B	$11.21B
Inventory	$342.00M	$404.00M	$421.00M	$511.00M	$620.00M	$717.00M	$889.00M	$935.00M	$826.00M	$739.00M
Total current assets	$13.85B	$15.72B	$16.21B	$17.10B	$20.22B	$24.93B	$22.22B	$19.41B	$19.31B	$19.05B
Goodwill	$3.76B	$3.87B	$3.81B	$3.81B	$3.37B	$3.69B	$4.22B	$4.87B	$4.30B	$5.84B
Total assets	$40.55B	$45.57B	$50.02B	$57.86B	$62.41B	$69.41B	$71.12B	$70.86B	$70.07B	$73.09B
Total current liabilities	$11.73B	$12.89B	$14.09B	$15.41B	$17.02B	$17.57B	$18.14B	$17.68B	$16.44B	$15.62B
Short-term debt	$3.68B	$4.01B	$2.81B	$3.42B	$2.62B	$2.13B	$2.34B	$3.35B	$1.84B	$608.00M
Long-term debt	$12.39B	$20.28B	$19.93B	$21.82B	$22.03B	$19.78B	$17.32B	$22.00B	$21.03B	$23.59B
Total debt	$16.07B	$24.29B	$22.74B	$25.24B	$24.65B	$21.91B	$19.66B	$25.35B	$22.87B	$24.19B
Total liabilities	$39.97B	$44.58B	$46.99B	$54.59B	$61.75B	$55.15B	$51.34B	$53.55B	$53.35B	$56.86B
Shareholders' equity	$405.00M	$994.00M	$3.02B	$3.27B	$657.00M	$14.25B	$19.79B	$17.31B	$16.72B	$16.23B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$6.47B	$1.48B	$12.71B	$8.64B	$10.46B	$15.01B	$14.10B	$10.24B	$10.12B	$8.45B
Capital expenditures	$2.96B	$5.23B	$6.28B	$6.38B	$5.41B	$4.19B	$4.77B	$5.16B	$3.91B	$3.69B
Free cash flow	$3.51B	-$3.75B	$6.43B	$2.26B	$5.05B	$10.81B	$9.34B	$5.08B	$6.21B	$4.76B
Investing cash flow	-$2.56B	-$4.97B	-$6.33B	-$6.06B	-$5.28B	-$3.82B	-$7.47B	-$7.13B	-$217.00M	-$4.74B
Financing cash flow	-$3.14B	$3.29B	-$5.69B	-$1.73B	-$4.52B	-$6.82B	-$11.19B	-$5.53B	-$6.85B	-$4.14B
Dividends paid	$2.64B	$2.77B	$3.01B	$3.19B	$3.37B	$3.44B	$5.11B	$5.37B	$5.40B	$5.40B
Share buybacks	$2.68B	$1.81B	$1.01B	$1.00B	$224.00M	$500.00M	$3.50B	$2.25B	$500.00M	$1.00B
Stock-based compensation	$591.00M	$584.00M	$634.00M	$915.00M	$796.00M	$878.00M	$1.57B	$220.00M	$24.00M	$73.00M
Depreciation & amortization	$2.22B	$2.28B	$2.21B	$2.36B	$2.70B	$2.95B	$3.19B	$2.80B	$3.00B	$3.00B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$24.92B	$21.71B	$21.82B	$22.25B	$25.30B	$21.55B	$21.22B	$21.41B	$24.48B	$21.20B	$22.83B	$22.85B
Operating income	$2.48B	$1.61B	$1.94B	$1.99B	$2.93B	$1.67B	$1.82B	$1.80B	$2.58B	$1.27B	$930.00M	$1.74B
Interest expense	$207.00M	$195.00M	$212.00M	$230.00M	$229.00M	$222.00M	$238.00M	$291.00M	$266.00M	$266.00M	$272.00M	$289.00M
Pre-tax income	$2.06B	$1.54B	$1.87B	$1.91B	$2.13B	$1.52B	$1.66B	$1.61B	$2.37B	$1.12B	$761.00M	$1.57B
Income tax	$458.00M	$423.00M	$460.00M	$371.00M	$406.00M	$336.00M	$379.00M	$296.00M	$581.00M	$260.00M	$157.00M	$408.00M
Net income	$1.60B	$1.11B	$1.41B	$1.54B	$1.72B	$1.19B	$1.28B	$1.31B	$1.79B	$864.00M	$604.00M	$1.16B
EBITDA	$3.34B	$2.51B	$2.83B	$2.89B	$3.85B	$2.41B	$2.58B	$2.60B	$3.27B	$2.06B	$1.74B	$2.44B
EPS (basic)	$1.88	$1.30	$1.65	$1.80	$2.02	$1.40	$1.51	$1.55	$2.10	$1.02	$0.71	$1.37
EPS (diluted)	$1.88	$1.30	$1.65	$1.80	$2.01	$1.40	$1.51	$1.55	$2.10	$1.02	$0.71	$1.37
Diluted shares	-1.00M	857.00M	857.00M	855.00M	0	850.00M	847.00M	848.00M	1.00M	850.00M	851.00M	852.00M
Operating margin	9.9%	7.4%	8.9%	8.9%	11.6%	7.7%	8.6%	8.4%	10.5%	6.0%	4.1%	7.6%
Net margin	6.4%	5.1%	6.5%	6.9%	6.8%	5.5%	6.0%	6.1%	7.3%	4.1%	2.6%	5.1%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$3.21B	$4.28B	$6.32B	$5.86B	$6.11B	$4.80B	$6.19B	$6.76B	$5.89B	$5.80B	$4.65B	$6.84B
Short-term investments	$2.87B	$232.00M	$213.00M	$205.00M	$206.00M	$263.00M	$92.00M	$68.00M	—	—	—	—
Receivables	$11.22B	$9.55B	$9.05B	$9.20B	$10.87B	$9.89B	$10.43B	$9.97B	$11.21B	$9.95B	$10.71B	$10.39B
Inventory	$935.00M	—	—	—	$826.00M	—	—	—	$739.00M	—	—	—
Total current assets	$19.41B	$16.18B	$18.82B	$17.26B	$19.31B	$17.09B	$18.85B	$18.98B	$19.05B	$17.79B	$17.55B	$19.31B
Goodwill	$4.87B	$4.85B	$4.35B	$4.41B	$4.30B	$4.69B	$4.81B	$4.81B	$5.84B	$5.80B	$5.77B	$5.59B
Total assets	$70.86B	$67.63B	$69.42B	$68.26B	$70.07B	$68.47B	$70.92B	$71.39B	$73.09B	$71.81B	$71.27B	$72.72B
Total current liabilities	$17.68B	$14.70B	$15.09B	$15.08B	$16.44B	$15.66B	$14.24B	$14.55B	$15.62B	$14.67B	$14.88B	$15.58B
Short-term debt	$3.35B	$1.16B	$2.01B	$1.61B	$1.84B	$1.86B	$920.00M	$932.00M	$608.00M	$637.00M	$634.00M	$957.00M
Long-term debt	$22.00B	$18.85B	$20.20B	$20.32B	$21.03B	$19.51B	$23.82B	$23.85B	$23.59B	$23.75B	$23.85B	$25.12B
Total debt	$25.35B	$20.01B	$22.20B	$21.93B	$22.87B	$21.37B	$24.74B	$24.78B	$24.19B	$24.39B	$24.48B	$26.08B
Total liabilities	$53.55B	$50.72B	$52.39B	$51.41B	$53.35B	$52.81B	$55.17B	$55.57B	$56.86B	$56.05B	$56.20B	$57.73B
Shareholders' equity	$17.31B	$16.91B	$17.03B	$16.86B	$16.72B	$15.66B	$15.75B	$15.82B	$16.23B	$15.76B	$15.07B	$14.99B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$2.41B	$3.32B	$1.99B	$1.50B	$3.31B	$2.32B	$348.00M	$2.48B	$3.30B	$2.22B	$859.00M	$2.90B
Capital expenditures	$2.05B	$1.03B	$933.00M	$843.00M	$1.10B	$876.00M	$1.12B	$970.00M	$716.00M	$1.03B	$693.00M	$497.00M
Free cash flow	$362.00M	$2.28B	$1.06B	$655.00M	$2.22B	$1.44B	-$775.00M	$1.51B	$2.59B	$1.19B	$166.00M	$2.41B
Investing cash flow	-$3.20B	$1.57B	-$913.00M	$187.00M	-$1.06B	-$1.35B	-$923.00M	-$456.00M	-$2.00B	-$944.00M	-$566.00M	-$267.00M
Financing cash flow	-$349.00M	-$3.67B	$899.00M	-$2.24B	-$1.85B	-$2.31B	$1.79B	-$1.43B	-$2.19B	-$1.33B	-$1.43B	-$449.00M
Dividends paid	$1.34B	$1.35B	$1.35B	$1.35B	$1.35B	$1.35B	$1.35B	$1.35B	$1.35B	$1.35B	$1.36B	$1.36B
Share buybacks	$0	$0	$0	$500.00M	$0	$1.00B	$1.00B	$0	$0	$0	$0	$0
Stock-based compensation	$34.00M	-$27.00M	$30.00M	-$24.00M	$45.00M	$21.00M	-$5.00M	$25.00M	$32.00M	$24.00M	$34.00M	$37.00M
Depreciation & amortization	$867.00M	$898.00M	$887.00M	$905.00M	$919.00M	$743.00M	$757.00M	$800.00M	$700.00M	$791.00M	$809.00M	$700.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.