United Parcel Service

Industrials Air Freight & Logistics Sandy Springs, Georgia Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$88.7B
                    3y CAGR -4.0%
                    
                    P13
                    
                    -2.6%
                    
                    Net income
                    FY2025
                
$5.6B
                    Net margin +6.3%
                    
                    P16
                    
                    -3.6%
                    
                    Total assets
                    FY2025
                
$73.1B
                    ROA +7.6%
                    
                    P42
                    
                    +4.3%
                    
                    Operating cash flow
                    FY2025
                
$8.4B
                    FCF margin +5.4%
                    
                    P13
                    
                    -16.5%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $73.1B

Total liabilities ~$56.9B

Shareholders equity $16.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	6.6%	6.7%	3.5%	5.6%	10.5%	7.0%	7.1%	5.9%	5.0%	5.7%
Accounts Receivable	12.6%	11.9%	12.3%	12.5%	12.9%	12.7%	12.9%	12.5%	13.3%	12.6%
Other Current Assets	2.2%	2.6%	2.3%	2.0%	1.9%	3.7%	2.4%	3.1%	4.1%	2.6%
Total Current Assets	21.5%	21.2%	21.3%	22.1%	25.6%	23.9%	23.1%	22.6%	23.6%	22.7%
Property,Plant and Equipment	42.6%	40.8%	40.6%	34.6%	34.4%	38.1%	41.1%	37.0%	33.6%	30.9%
Operating Lease Assets	4.8%	4.6%	4.7%	3.7%	3.7%	3.6%	3.9%	3.7%	—	—
Goodwill	6.6%	4.7%	5.4%	4.2%	3.8%	4.0%	5.1%	5.3%	5.9%	6.2%
Intangible Assets	4.5%	3.4%	3.6%	2.8%	2.6%	2.7%	2.9%	2.9%	3.0%	2.9%
Other Noncurrent Assets	2.5%	2.3%	2.2%	3.4%	1.3%	1.4%	1.9%	1.9%	2.9%	3.6%
Total Assets	82.4%	76.9%	77.9%	70.9%	71.3%	73.7%	78.1%	69.6%	68.9%	66.3%
Liabilities
Accounts Payable	7.5%	6.9%	7.0%	7.5%	7.7%	7.6%	7.5%	7.2%	5.9%	5.0%
Accrued Liabilities	7.0%	6.7%	6.6%	6.2%	6.1%	6.6%	5.7%	6.4%	5.9%	5.9%
Current Portion of Long Term Debt	0.7%	2.0%	3.7%	2.3%	2.2%	3.1%	4.6%	3.9%	6.1%	6.0%
Operating Lease Liabilities	0.9%	0.8%	0.8%	0.6%	0.6%	0.7%	0.7%	—	—	—
Other Current Liabilities	1.6%	1.6%	1.4%	1.5%	1.5%	2.1%	2.2%	2.6%	1.4%	2.3%
Total Current Liabilities	17.6%	18.1%	19.4%	18.1%	18.1%	20.1%	20.8%	19.6%	19.3%	19.3%
Long Term Debt	26.5%	21.4%	20.8%	17.3%	20.3%	26.0%	29.4%	27.7%	30.8%	20.3%
Operating Lease Liabilities Noncurrent	4.2%	4.0%	4.1%	3.2%	3.1%	3.0%	3.2%	—	—	—
Deferred Tax Liabilities	4.2%	3.9%	4.1%	4.3%	3.2%	0.6%	2.2%	2.3%	1.1%	0.2%
Other Noncurrent Liabilities	11.6%	11.2%	10.4%	8.3%	11.9%	23.2%	18.0%	15.8%	16.1%	25.8%
Equity
Additional Paid In Capital	0.3%	0.1%	0.0%	0.0%	1.4%	1.0%	0.2%	0.0%	0.0%	0.0%
Retained Earnings	22.7%	22.9%	23.1%	21.3%	16.6%	8.1%	12.3%	11.1%	8.9%	8.0%
Treasury Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%
Accumulated Other Comprehensive Income	-4.7%	-4.7%	-4.1%	-1.5%	-3.4%	-8.4%	-8.1%	-6.9%	-7.4%	-7.4%
Other Equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%
Total Stockholders Equity	18.3%	18.4%	19.0%	19.7%	14.7%	0.8%	4.4%	4.2%	1.5%	0.7%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	82.4%	76.9%	77.9%	70.9%	71.3%	73.7%	78.1%	69.6%	68.9%	66.3%

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $88.7B

Operating income $7.9B

Net income $5.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Depreciation and Amortization	4.2%	4.0%	3.7%	3.2%	3.0%	3.2%	3.2%	3.1%	3.5%	3.7%
Expenses Other Operating Expenses	86.9%	86.7%	86.2%	83.8%	83.8%	87.7%	86.3%	66.1%	85.1%	87.4%
Other Income Expense Operating Income	8.9%	9.3%	10.0%	13.0%	13.2%	9.1%	10.5%	9.8%	11.4%	9.0%
Other Income Expense Interest Expense	1.1%	1.0%	0.9%	0.7%	0.7%	0.8%	0.9%	0.8%	0.7%	0.6%
Other Income Expense Other Income/expense	0.4%	-0.2%	0.2%	2.4%	—	—	—	—	—	—
Other Income Expense Income Before Tax	8.1%	8.2%	9.4%	14.8%	17.1%	2.2%	7.6%	8.4%	10.9%	8.4%
Income Tax Income Tax Expense	1.8%	1.8%	2.1%	3.3%	3.8%	0.6%	1.6%	1.7%	3.4%	2.8%
net Income net Income	6.3%	6.3%	7.4%	11.5%	13.2%	1.6%	6.0%	6.7%	7.5%	5.6%
net Income Comprehensive Income	6.4%	5.7%	4.9%	13.2%	17.2%	0.3%	4.6%	7.5%	6.9%	4.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $8.4B

Investing cash flow $-4.7B

Financing cash flow $-4.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	6.3%	6.3%	7.4%	11.5%	13.2%	1.6%	6.0%	6.7%	7.4%	5.6%
Operating Activities Depreciation and Amortization	4.2%	4.0%	3.7%	3.2%	3.0%	3.2%	3.2%	3.1%	3.5%	—
Operating Activities Stock Based Compensation	0.1%	0.0%	0.2%	1.6%	0.9%	0.9%	1.2%	0.9%	0.9%	1.0%
Operating Activities Deferred Income Taxes	-0.0%	-0.0%	0.2%	0.5%	1.7%	-1.0%	0.1%	1.1%	1.9%	0.2%
Operating Activities Changes In Operating Assets and Liabilities	-0.8%	0.3%	-0.5%	-0.4%	-0.5%	1.8%	-0.0%	2.7%	-2.1%	-1.2%
Operating Activities Other Non Cash Items	-0.3%	0.5%	0.2%	-2.3%	-3.0%	5.8%	1.2%	3.3%	-9.3%	1.4%
Operating Activities net Cash From Operating Activities	9.5%	11.1%	11.3%	14.1%	15.4%	12.4%	11.7%	17.7%	2.2%	10.6%
Investing Activities Capital Expenditures	-4.2%	-4.3%	-5.7%	-4.8%	-4.3%	-6.4%	-8.6%	-8.7%	-7.9%	-4.9%
Investing Activities Business Acquisitions	-2.2%	-0.1%	-1.5%	-0.8%	-0.6%	-0.0%	-0.0%	-0.0%	-0.2%	-0.9%
Investing Activities Purchases of Investments	-0.1%	-0.1%	-3.9%	-1.9%	-0.3%	-0.3%	-0.8%	-1.4%	-2.5%	-7.9%
Investing Activities Proceeds From Sale of Investments	0.3%	3.0%	3.0%	0.3%	0.4%	0.4%	1.2%	1.2%	3.0%	9.4%
Investing Activities Other Investing Activities	0.8%	1.2%	0.2%	-0.3%	0.9%	0.1%	0.0%	0.1%	0.0%	0.1%
Investing Activities net Cash From Investing Activities	-5.3%	-0.2%	-7.8%	-7.4%	-3.9%	-6.2%	-8.2%	-8.8%	-7.5%	-4.2%
Financing Activities Proceeds From Debt	4.7%	3.1%	3.8%	0.0%	0.0%	5.9%	7.0%	1.7%	18.2%	9.7%
Financing Activities Repayment of Debt	-2.3%	-4.1%	-1.3%	-2.3%	-2.9%	-6.9%	-3.8%	-3.9%	-6.4%	-6.4%
Financing Activities Repurchase of Common Stock	-1.1%	-0.5%	-2.5%	-3.5%	-0.5%	-0.3%	-1.4%	-1.4%	-2.8%	-4.4%
Financing Activities Dividends Paid	-6.1%	-5.9%	-5.9%	-5.1%	-3.5%	-4.0%	-4.3%	-4.2%	-4.2%	-4.3%
Financing Activities Proceeds From Stock Issuance	0.2%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.4%	0.4%
Financing Activities Other Financing Activities	0.0%	-0.2%	-0.5%	-0.5%	-0.4%	-0.4%	-0.2%	-0.4%	-0.3%	-0.2%
Financing Activities net Cash From Financing Activities	-4.7%	-7.5%	-6.1%	-11.1%	-7.0%	-5.3%	-2.3%	-7.9%	5.0%	-5.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.2%	0.0%	-0.1%	-0.0%	0.0%	0.0%	-0.1%	0.1%	-0.0%
Cash Reconciliation net Change In Cash	-0.3%	3.2%	-2.6%	-4.6%	4.5%	0.8%	1.2%	0.8%	-0.2%	1.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+8.9%	+9.3%	+10.0%	+13.0%	+13.2%	+9.1%	+10.5%	+9.8%	+11.4%	+9.0%
Net margin	+6.3%	+6.3%	+7.4%	+11.5%	+13.2%	+1.6%	+6.0%	+6.7%	+7.5%	+5.6%
FCF margin	+5.4%	+6.8%	+5.6%	+9.3%	+11.1%	+6.0%	+3.0%	+8.9%	-5.7%	+5.8%
Growth
Revenue CAGR (3y)	-4.0%	-2.2%	+2.4%	+10.6%	+10.6%	+8.7%	+6.8%	+7.2%	+4.2%	+3.2%
Returns
ROE	+34.3%	+34.6%	+38.8%	+58.4%	+90.4%	+204.4%	+135.9%	+158.6%	+491.0%	+847.2%
ROA	+7.6%	+8.3%	+9.5%	+16.2%	+18.6%	+2.2%	+7.7%	+9.6%	+10.8%	+8.5%
ROIC	+17.8%	+20.6%	+19.7%	+30.1%	+38.4%	+28.8%	+26.3%	+26.0%	+23.5%	+28.1%
Liquidity
Current ratio	1.22x	1.17x	1.10x	1.22x	1.42x	1.19x	1.11x	1.15x	1.22x	1.18x
Quick ratio	1.09x	1.03x	0.82x	1.00x	1.30x	0.98x	0.96x	0.94x	0.95x	0.95x
Leverage
D/E	3.50x	3.19x	3.09x	2.59x	3.87x	93.99x	16.71x	15.56x	44.40x	98.70x
Interest coverage	7.74x	9.78x	11.61x	18.60x	18.46x	10.96x	11.94x	11.61x	16.62x	14.35x
Efficiency
Asset turnover	1.21x	1.30x	1.28x	1.41x	1.40x	1.36x	1.28x	1.44x	1.45x	1.51x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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United Parcel Service

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