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Friday 6 November 2026 Export UPS’s income statement to Excel — free account

United Parcel Service, Inc.

UPS Industrials Integrated Freight & Logistics

United Parcel Service, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $88.7 billion, down 2.65% from fiscal 2024.

Revenue
+6.71%
EPS
−11.8%
Free cash flow
+33.7%
Total debt
+5.23%

Quarter to September 2026, against a year earlier

108.62 2.42 −2.18%
Market cap
$94.5B
P/E
21.3×
Fwd P/E
18.5×
Dividend yield
5.90%
F-score
6/9
Altman Z
2.90
Beneish M
−2.61
Dividend safety
36/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

United Parcel Service, Inc. (UPS) Debt to equity

Alert me on Debt to equity

United Parcel Service, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 1.7×, up 0.3× from fiscal 2025 (1.5×). Over the past ten years it has ranged from 1.0× (fiscal 2022) to 37.5× (fiscal 2016); the current reading is higher than 36% of that period. That is above the Integrated Freight & Logistics industry median of 0.1× and above the Industrials sector median of 0.3×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 1.5× 16.76%
FY2024 1.3× (1.14%)
FY2023 1.3× 29.51%
FY2022 1.0× (35.35%)
FY2021 1.5× (95.83%)
FY2020 36.9× 379.38%
FY2019 7.7× 2.69%
FY2018 7.5× (68.44%)
FY2017 23.7× (36.70%)
FY2016 37.5× 551.18%

Quarterly newest first

Period Debt to equity Change
Sep 2026 1.7× 7.02%
Jun 2026 1.6× 5.01%
Mar 2026 1.5× 4.04%
Dec 2025 1.5× (5.08%)
43 more quarters

Against its own ten years

Low 1.0× High 37.5×
Ten-year median 5.8×
Current reading's percentile 36

Debt to equity against peers

Company Debt to equity
FDXF FedEx Freight Holding Company Inc. compare −17.5×
EXPD Expeditors International of Washington, Inc. compare 0.0×
LSTR Landstar System, Inc. compare 0.1×
JBHT J.B. Hunt Transport Services, Inc. compare 0.3×
ZTO ZTO Express (Cayman) Inc. compare 0.3×
FDX FedEx Corporation compare 0.5×
GXO GXO Logistics, Inc. compare 0.9×
CHRW C.H. Robinson Worldwide, Inc. compare 1.2×
UPS United Parcel Service, Inc. 1.7×
Integrated Freight & Logistics industry median 0.1×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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