Sunday 11 October 2026
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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. In the quarter to June 2026, revenue grew 7.60%, EPS fell 53.0%, free cash flow grew 137.7% and total debt fell 1.03%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years.
94.57
0.44
+0.47%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 87.30 | 102.12 | 89.89 | 92.65 | 82.00 | 154.76 | 154.87 | 133.68 | 122.01 | 82.00 |
Analyst estimates 2026–2028 Powerpack |
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| High | 120.44 | 125.16 | 135.53 | 125.31 | 178.01 | 220.24 | 233.72 | 197.80 | 161.48 | 136.99 | |||||
| People | |||||||||||||||
| People | Employees | 434,000 | 454,000 | 481,000 | 495,000 | 543,000 | 534,000 | 536,000 | 500,000 | 490,000 | 460,000 | ||||
| Revenue/emp, $m | 0.14 | 0.15 | 0.15 | 0.15 | 0.16 | 0.18 | 0.19 | 0.18 | 0.19 | 0.19 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 61,610 | 66,585 | 71,861 | 74,094 | 84,628 | 97,287 | 100,338 | 90,958 | 91,070 | 88,661 | ||||
| Gross margin, % | 78.07 | 75.99 | 74.16 | 76.09 | 75.68 | 73.59 | 73.52 | 76.65 | 77.06 | 79.69 | |||||
| EBT | 5,121 | 7,137 | 6,019 | 5,652 | 1,844 | 16,595 | 14,825 | 8,573 | 7,442 | 7,164 | |||||
| EBT margin, % | 8.31 | 10.72 | 8.38 | 7.63 | 2.18 | 17.06 | 14.78 | 9.43 | 8.17 | 8.08 | |||||
| Net income | 3,422 | 4,905 | 4,791 | 4,440 | 1,343 | 12,890 | 11,548 | 6,708 | 5,782 | 5,572 | |||||
| Depreciation | 2,224 | 2,282 | 2,207 | 2,360 | 2,698 | 2,953 | 3,188 | 3,366 | 3,609 | 3,746 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 69.77 | 76.45 | 82.98 | 85.76 | 97.61 | 111.95 | 115.60 | 106.38 | 106.64 | 104.55 | ||||
| Earnings | 3.89 | 5.64 | 5.53 | 5.14 | 1.65 | 14.75 | 13.26 | 7.81 | 6.76 | 6.56 | |||||
| Cash flow | 7.33 | 1.70 | 14.68 | 10.00 | 12.06 | 17.27 | 16.25 | 11.97 | 11.85 | 9.96 | |||||
| Capex | (3.26) | (5.97) | (7.21) | (7.31) | (6.20) | (3.82) | (5.48) | (5.81) | (3.27) | (3.52) | |||||
| Free cash flow | 4.07 | (4.28) | 7.47 | 2.69 | 5.87 | 13.45 | 10.77 | 6.17 | 8.58 | 6.44 | |||||
| Book value | 0.49 | 1.18 | 3.51 | 3.80 | 0.77 | 16.42 | 22.81 | 20.25 | 19.61 | 19.17 | |||||
| Shares, m | 883 | 871 | 866 | 864 | 867 | 869 | 868 | 855 | 854 | 848 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 29.74 | 21.97 | 17.67 | 22.91 | 102.06 | 14.53 | 13.22 | 20.27 | 18.63 | 15.10 | ||||
| P/S | 1.65 | 1.62 | 1.18 | 1.37 | 1.73 | 1.91 | 1.52 | 1.49 | 1.18 | 0.95 | |||||
| P/B | 236.87 | 105.19 | 27.81 | 30.81 | 218.24 | 13.05 | 7.68 | 7.82 | 6.43 | 5.17 | |||||
| EV/Sales | 1.84 | 1.92 | 1.42 | 1.63 | 1.94 | 2.03 | 1.64 | 1.67 | 1.35 | 1.15 | |||||
| EV/FCF | 31.46 | (34.35) | 15.80 | 51.91 | 32.31 | 16.91 | 17.57 | 28.75 | 16.77 | 18.73 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 6,473 | 1,479 | 12,711 | 8,639 | 10,459 | 15,007 | 14,104 | 10,238 | 10,122 | 8,450 | ||||
| Capex | (2,877) | (5,203) | (6,246) | (6,315) | (5,372) | (3,322) | (4,757) | (4,965) | (2,794) | (2,985) | |||||
| Free cash flow | 3,596 | (3,724) | 6,465 | 2,324 | 5,087 | 11,685 | 9,347 | 5,273 | 7,328 | 5,465 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 2,119 | 2,832 | 2,123 | 1,690 | 3,200 | 7,365 | 4,077 | 1,737 | 2,869 | 3,425 | ||||
| Total debt | 16,075 | 24,289 | 22,736 | 25,238 | 24,654 | 21,915 | 19,662 | 22,264 | 21,284 | 24,127 | |||||
| Net debt | 11,508 | 20,220 | 17,701 | 19,497 | 18,338 | 11,322 | 12,067 | 16,192 | 15,172 | 18,240 | |||||
| Shareholders’ equity | 429 | 1,024 | 3,037 | 3,283 | 669 | 14,269 | 19,803 | 17,314 | 16,743 | 16,255 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 8.70 | 11.41 | 10.02 | 8.23 | 2.23 | 19.56 | 16.44 | 9.45 | 8.21 | 7.78 | ||||
| ROIC | 40.25 | 22.15 | 21.17 | 21.39 | 25.27 | 31.29 | 25.68 | 17.05 | 16.58 | 14.25 | |||||
| ROE | 234.38 | 675.15 | 235.95 | 140.51 | 67.97 | 172.58 | 67.79 | 36.15 | 33.95 | 33.77 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
United Parcel Service, Inc. vs peers in Integrated Freight & Logistics (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| UPS United Parcel Service, Inc. | $80.1B | 17.5× | 15.3× | +7.60% (above 0%: growing) | −52.98% (below 0%: shrinking) | +137.65% (above 0%: growing) | 75.16% | 4.07% | |
| FDX FedEx Corporation | $69.0B | 15.7× | 15.5× | +12.54% (above 0%: growing) | −4.07% (below 0%: shrinking) | +62.20% (above 0%: growing) | 69.62% | 6.20% | Compare |
| CHRW C.H. Robinson Worldwide, Inc. | $25.3B | 26.8× | 30.2× | +19.28% (above 0%: growing) | +24.41% (above 0%: growing) | −91.47% (below 0%: shrinking) | 14.96% | 5.18% | Compare |
| EXPD Expeditors International of Washington, Inc. | $25.2B | 28.0× | 23.6× | +32.07% (above 0%: growing) | +50.37% (above 0%: growing) | +2.03% (above 0%: growing) | 30.99% | 9.98% | Compare |
| JBHT J.B. Hunt Transport Services, Inc. | $21.5B | 32.5× | 38.8× | +19.37% (above 0%: growing) | +45.80% (above 0%: growing) | +29.82% (above 0%: growing) | 41.31% | 7.42% | Compare |
| ZTO ZTO Express (Cayman) Inc. | $10.9B | 10.6× | 11.3× | +29.83% (above 0%: growing) | +73.53% (above 0%: growing) | +121.35% (above 0%: growing) | 25.66% | 22.19% | Compare |
| LSTR Landstar System, Inc. | $5.8B | 43.8× | 38.6× | +18.09% (above 0%: growing) | +20.00% (above 0%: growing) | −950.32% (below 0%: shrinking) | 21.71% | 4.62% | Compare |
| GXO GXO Logistics, Inc. | $5.3B | 40.5× | 26.3× | +4.30% (above 0%: growing) | −4.35% (below 0%: shrinking) | +127.91% (above 0%: growing) | 14.76% | 2.24% | Compare |
| PBI Pitney Bowes Inc. | $2.3B | 13.4× | 11.1× | −2.25% (below 0%: shrinking) | +117.65% (above 0%: growing) | +37.11% (above 0%: growing) | 53.66% | 23.66% | Compare |
| Median of peers | $16.2B | 27.4× | 25.0× | +18.69% | +35.11% | +33.47% | 28.33% | 6.81% |
UPS metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
United Parcel Service, Inc. (UPS) key facts
- Concern: United Parcel Service, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $88.7 billion, down 2.65% from fiscal 2024.
- Concern: Net income was $5.6 billion, or $6.56 per share (basic), a net margin of 6.28%.
- United Parcel Service, Inc. (UPS) is an Integrated Freight & Logistics company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 9, 2026, UPS traded at $94.57, a market capitalization of $80.1 billion.
- At that price the stock trades at 17.5× trailing-twelve-month earnings and 0.9× sales; its P/E is higher than 33% of its own readings over the past ten years.
- United Parcel Service, Inc. pays an annual dividend of $6.56 per share, a yield of 6.94%, with a payout ratio of 121.9%.
- Return on equity was 33.8% and debt-to-equity 1.62.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.90 (grey zone) for fiscal 2025.