United Parcel Service

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

                    Revenue
                    FY2025
                
$88.7B
                    3y CAGR -4.0%
                    
                    P12
                    
                    -2.6%
                    
                    Net income
                    FY2025
                
$5.6B
                    Net margin +6.3%
                    
                    P18
                    
                    -3.6%
                    
                    Total assets
                    FY2025
                
$73.1B
                    ROA +7.6%
                    
                    P45
                    
                    +4.3%
                    
                    Operating cash flow
                    FY2025
                
$8.4B
                    FCF margin +5.4%
                    
                    P7
                    
                    -16.5%

19 yrs · FY2007–FY2025 9 filed · 0 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

32 accounts · 5 years

Total assets $73.1B

Total liabilities $15.6B

Shareholders equity $16.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	6.6%	6.7%	3.5%	5.6%	10.5%
Short Term Investments	0.0%	0.2%	3.2%	2.0%	0.3%
Accounts Receivable	12.6%	11.9%	12.3%	12.5%	12.9%
Prepaid Expenses	2.2%	2.3%	2.3%	2.0%	1.9%
Other Current Assets	2.2%	2.3%	2.3%	2.0%	1.9%
Total Current Assets	21.5%	21.2%	21.3%	22.1%	25.6%
Property,Plant and Equipment	42.6%	40.8%	40.6%	34.6%	34.4%
Operating Lease Assets	4.8%	4.6%	4.7%	3.7%	3.7%
Goodwill	6.6%	4.7%	5.4%	4.2%	3.8%
Intangible Assets	4.5%	3.4%	3.6%	2.8%	2.6%
Other Noncurrent Assets	2.3%	2.1%	2.1%	3.3%	1.1%
Total Assets	82.4%	76.9%	77.9%	70.9%	71.3%
Liabilities
Accounts Payable	7.5%	6.9%	7.0%	7.5%	7.7%
Accrued Liabilities	1.6%	1.6%	1.4%	1.5%	1.5%
Deferred Revenue	0.0%	0.0%	0.0%	0.0%	0.0%
Current Portion of Long Term Debt	0.7%	2.0%	3.7%	2.3%	2.2%
Operating Lease Liabilities	0.9%	0.8%	0.8%	0.6%	0.6%
Other Current Liabilities	1.6%	1.6%	1.4%	1.5%	1.5%
Total Current Liabilities	17.6%	18.1%	19.4%	18.1%	18.1%
Deferred Revenue Noncurrent	0.1%	0.0%	0.0%	0.0%	0.0%
Operating Lease Liabilities Noncurrent	4.2%	4.0%	4.1%	3.2%	3.1%
Deferred Tax Liabilities	4.2%	3.9%	4.1%	4.3%	3.2%
Other Noncurrent Liabilities	4.2%	3.7%	3.6%	3.5%	3.7%
Total Liabilities	17.6%	18.1%	19.4%	18.1%	18.1%
Equity
Common Stock	0.3%	0.1%	0.0%	0.0%	1.4%
Additional Paid In Capital	0.3%	0.1%	0.0%	0.0%	1.4%
Retained Earnings	22.7%	22.9%	23.1%	21.3%	16.6%
Treasury Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Accumulated Other Comprehensive Income	-4.7%	-4.7%	-4.1%	-1.5%	-3.4%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Total Stockholders Equity	18.3%	18.4%	19.0%	19.7%	14.7%
Total Liabilitiesand Equity	82.4%	76.9%	77.9%	70.9%	71.3%

Income Statement

Revenue, expense, and profitability

18 accounts · 5 years

Revenue $88.7B

Operating income $7.9B

Net income $5.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	91.1%	90.7%	90.0%	87.0%	86.8%
Expenses Depreciation and Amortization	4.2%	4.0%	3.7%	3.2%	3.0%
Expenses Share Based Compensation	0.1%	0.0%	0.2%	1.6%	0.9%
Expenses Restructuring and Asset Impairment	0.7%	0.4%	0.5%	0.2%	0.4%
Expenses Operating Expenses	91.1%	90.7%	90.0%	87.0%	86.8%
Other Income Expense Operating Income	8.9%	9.3%	10.0%	13.0%	13.2%
Other Income Expense Interest Income	0.2%	0.3%	0.3%	0.2%	4.6%
Other Income Expense Interest Expense	1.1%	1.0%	0.9%	0.7%	0.7%
Other Income Expense Other Income/expense	-0.8%	-1.1%	-0.6%	1.7%	3.9%
Other Income Expense Income Before Tax	8.1%	8.2%	9.4%	14.8%	17.1%
Income Tax Income Tax Expense	1.8%	1.8%	2.1%	3.3%	3.8%
net Income net Income	6.3%	6.3%	7.4%	11.5%	13.2%
net Income Comprehensive Income	6.4%	5.7%	4.9%	13.2%	17.2%
Earnings Per Share Basic Eps	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%
Earnings Per Share Weighted Average Shares Basic	1.0%	0.9%	0.9%	0.9%	0.9%
Earnings Per Share Weighted Average Shares Diluted	1.0%	0.9%	0.9%	0.9%	0.9%

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 5 years

Operating cash flow $8.4B

Investing cash flow $-4.7B

Financing cash flow $-4.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	6.3%	6.3%	7.4%	11.5%	13.2%
Operating Activities Depreciation and Amortization	4.2%	4.0%	3.7%	3.2%	3.0%
Operating Activities Stock Based Compensation	0.1%	0.0%	0.2%	1.6%	0.9%
Operating Activities Deferred Income Taxes	-0.0%	-0.0%	0.2%	0.5%	1.7%
Operating Activities Changes In Operating Assets and Liabilities	0.2%	0.9%	-2.9%	0.4%	3.5%
Operating Activities Other Non Cash Items	-0.6%	-0.0%	-0.0%	-0.0%	0.2%
Operating Activities net Cash From Operating Activities	9.5%	11.1%	11.3%	14.1%	15.4%
Investing Activities Capital Expenditures	4.2%	4.3%	5.7%	4.8%	4.3%
Investing Activities Business Acquisitions	2.2%	0.1%	1.5%	0.8%	0.6%
Investing Activities Purchases of Investments	0.1%	0.1%	3.9%	1.9%	0.3%
Investing Activities Other Investing Activities	-0.0%	0.0%	0.0%	0.3%	-0.1%
Investing Activities net Cash From Investing Activities	-5.3%	-0.2%	-7.8%	-7.4%	-3.9%
Financing Activities Proceeds From Debt	4.7%	3.1%	3.8%	0.0%	0.0%
Financing Activities Repayment of Debt	2.3%	2.7%	2.7%	2.3%	2.9%
Financing Activities Repurchase of Common Stock	1.1%	0.5%	2.5%	3.5%	0.5%
Financing Activities Dividends Paid	6.1%	5.9%	5.9%	5.1%	3.5%
Financing Activities Proceeds From Stock Issuance	0.2%	0.3%	0.3%	0.3%	0.3%
Financing Activities Other Financing Activities	0.0%	-0.2%	-0.5%	-0.5%	-0.4%
Financing Activities net Cash From Financing Activities	-4.7%	-7.5%	-6.1%	-11.1%	-7.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.2%	0.0%	-0.1%	-0.0%
Cash Reconciliation net Change In Cash	-0.3%	3.2%	-2.6%	-4.6%	4.5%
Cash Reconciliation Cash At Beginning of Period	6.6%	6.7%	3.5%	5.6%	10.5%
Cash Reconciliation Cash At End of Period	6.6%	6.7%	3.5%	5.6%	10.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+8.9%	+9.3%	+10.0%	+13.0%	+13.2%
Operating margin	+8.9%	+9.3%	+10.0%	+13.0%	+13.2%
Net margin	+6.3%	+6.3%	+7.4%	+11.5%	+13.2%
FCF margin	+5.4%	+6.8%	+5.6%	+9.3%	+11.1%
Growth
Revenue CAGR (3y)	-4.0%	-2.2%	+2.4%	+10.6%	+10.6%
Returns
ROE	+34.3%	+34.6%	+38.8%	+58.4%	+90.4%
ROA	+7.6%	+8.3%	+9.5%	+16.2%	+18.6%
ROIC	+55.9%	+52.9%	+41.0%	+30.1%	+38.4%
Liquidity
Current ratio	1.22x	1.17x	1.10x	1.22x	1.42x
Quick ratio	1.09x	1.03x	0.82x	1.00x	1.30x
Leverage
D/E	0.96x	0.98x	1.02x	0.92x	1.23x
Interest coverage	7.74x	9.78x	11.64x	18.60x	18.46x
Efficiency
Asset turnover	1.21x	1.30x	1.28x	1.41x	1.40x
Cash conversion cycle	—	+19d	+21d	+18d	+18d

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United Parcel Service

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