UPS

MKT CAP:$91B

United Parcel Service, Inc.

Market Cap

$91B

Industrials·Integrated Freight & Logistics·🇺🇸 United States·NYSE

Industrials·Integrated·🇺🇸·NYSE

Stock Price

$106.83+$5.81 (+5.75%)

Apr 24, 2026

Company Details

United Parcel Service, Inc. provides letter and package delivery, transportation, logistics, and related services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers t...

CEO

Carol Tome

IPO Date

Nov 10, 1999

Website

www.ups.com

Key Metrics TTM

Revenue

$88.7B

-2.4% YoY

Net Income

$5.6B

EPS (Diluted)

$6.56

Free Cash Flow

$4.8B

Revenue / Share

$103.96

Gross Margin

18.2%

Operating Margin

9.0%

Net Margin

6.3%

FCF Margin

5.4%

P/S

1.0x

P/E

16.3x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 17, 2026

$88.6B-2.5%EPS $6.56

Q4 2025

Feb 17, 2026

$24.5B-3.0%EPS $2.10

Q3 2025

Nov 5, 2025

$21.4B-3.6%EPS $1.55

Q2 2025

Aug 6, 2025

$21.2B-2.5%EPS $1.51

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$24.3B	$5.1B	$3.3B
Q2 22	$24.7B	$5.5B	$3.5B
Q3 22	$24.1B	$5.0B	$3.1B
Q4 22	$26.9B	$5.6B	$3.1B
Q1 23	$22.9B	$4.5B	$2.5B
Q2 23	$22.0B	$4.7B	$2.9B
Q3 23	$21.0B	$3.3B	$1.5B
Q4 23	$24.9B	$4.9B	$2.6B
Q1 24	$21.7B	$3.6B	$1.7B
Q2 24	$21.8B	$3.8B	$1.9B
Q3 24	$22.2B	$3.8B	$2.1B
Q4 24	$25.2B	$5.3B	$3.0B
Q1 25	$21.5B	$3.7B	$1.7B
Q2 25	$21.2B	$3.8B	$1.8B
Q3 25	$21.4B	$3.5B	$1.8B
Q4 25	$24.5B	$5.2B	$2.7B

Valuation

Quarter	P/S	P/E
Q1 22	1.9x	17.8x
Q2 22	1.6x	14.5x
Q3 22	1.4x	12.6x
Q4 22	1.6x	13.6x
Q1 23	1.7x	15.5x
Q2 23	1.6x	15.7x
Q3 23	1.4x	15.5x
Q4 23	1.5x	20.4x
Q1 24	1.4x	21.3x
Q2 24	1.3x	22.1x
Q3 24	1.3x	20.5x
Q4 24	1.2x	18.5x
Q1 25	1.0x	15.9x
Q2 25	0.9x	14.9x
Q3 25	0.8x	13.0x
Q4 25	1.0x	15.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$4.5B	$3.9B
Q2 22	$3.8B	$3.0B
Q3 22	$2.5B	$1.6B
Q4 22	$3.3B	$841M
Q1 23	$2.4B	$1.7B
Q2 23	$3.2B	$2.0B
Q3 23	$2.2B	$944M
Q4 23	$2.4B	$362M
Q1 24	$3.3B	$2.3B
Q2 24	$2.0B	$1.1B
Q3 24	$1.5B	$655M
Q4 24	$3.3B	$2.2B
Q1 25	$2.3B	$1.4B
Q2 25	$348M	-$775M
Q3 25	$2.5B	$1.5B
Q4 25	$3.3B	$2.6B

Capital Expenditures

Quarter	CapEx
Q1 22	$548M
Q2 22	$840M
Q3 22	$890M
Q4 22	$2.5B
Q1 23	$609M
Q2 23	$1.2B
Q3 23	$1.3B
Q4 23	$2.0B
Q1 24	$1.0B
Q2 24	$933M
Q3 24	$843M
Q4 24	$1.1B
Q1 25	$876M
Q2 25	$1.1B
Q3 25	$970M
Q4 25	$716M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+6.3%	+5.2%
Q2 22	+5.5%	+5.7%
Q3 22	+3.9%	+3.9%
Q4 22	-2.9%	-0.1%
Q1 23	-6.1%	-3.3%
Q2 23	-10.9%	-9.7%
Q3 23	-12.7%	-6.9%
Q4 23	-7.7%	-6.5%
Q1 24	-5.2%	-2.1%
Q2 24	-1.1%	+3.7%
Q3 24	+5.7%	+2.8%
Q4 24	+1.5%	+0.1%
Q1 25	-0.5%	-0.4%
Q2 25	-2.5%	-2.2%
Q3 25	-3.6%	-2.5%
Q4 25	-3.0%	-2.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$386M	1.6%
Q2 22	$231M	0.9%
Q3 22	$233M	1.0%
Q4 22	$718M	2.7%
Q1 23	$126M	0.6%
Q2 23	$39M	0.2%
Q3 23	$21M	0.1%
Q4 23	$34M	0.1%
Q1 24	-$27M	-0.1%
Q2 24	$30M	0.1%
Q3 24	-$24M	-0.1%
Q4 24	$45M	0.2%
Q1 25	$21M	0.1%
Q2 25	$0	0.0%
Q3 25	$20M	0.1%
Q4 25	$32M	0.1%

OpEx Breakdown

Quarter	SG&A
Q1 22	$1.8B
Q2 22	$1.9B
Q3 22	$2.0B
Q4 22	$2.4B
Q1 23	$2.0B
Q2 23	$1.8B
Q3 23	$1.9B
Q4 23	$2.3B
Q1 24	$1.9B
Q2 24	$1.9B
Q3 24	$1.8B
Q4 24	$2.3B
Q4 25	$2.5B

Revenue Segments

Quarter

Revenue by Geography

Quarter	International	Supply Chain & Freight	United States
Q1 22	$4.9B	$4.4B	$15.1B
Q2 22	$5.1B	$4.2B	$15.5B
Q3 22	$4.8B	$4.0B	$15.4B
Q4 22	$5.0B	$3.8B	$18.3B
Q1 23	$4.5B	$3.4B	$15.0B
Q2 23	$4.4B	$3.2B	$14.4B
Q3 23	$4.3B	$3.1B	$13.7B
Q4 23	$4.6B	$3.4B	$16.9B
Q1 24	$4.3B	$3.2B	$14.2B
Q2 24	$4.4B	$3.3B	$14.1B
Q3 24	$4.4B	$3.4B	$14.4B
Q4 24	$4.9B	$2.8B	$17.6B
Q1 25	$4.4B	$2.7B	$14.5B
Q2 25	$4.5B	$2.7B	$14.1B
Q3 25	$4.7B	$2.5B	$14.2B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$12.2B	$337M	$12.5B
Q2 22	$11.7B	$336M	$12.1B
Q3 22	$11.0B	$331M	$11.4B
Q4 22	$5.6B	$2.0B	$7.6B
Q1 23	$6.2B	$3.2B	$9.4B
Q2 23	$4.8B	$3.1B	$7.9B
Q3 23	$4.3B	$3.0B	$7.3B
Q4 23	$3.2B	$2.9B	$6.0B
Q1 24	$4.3B	$232M	$4.5B
Q2 24	$6.3B	$213M	$6.5B
Q3 24	$5.9B	$205M	$6.1B
Q4 24	$6.1B	$206M	$6.3B
Q1 25	$4.8B	$263M	$5.1B
Q2 25	$6.2B	$92M	$6.3B
Q3 25	$6.8B	$68M	$6.8B
Q4 25	$5.9B	$0	$5.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	879M	0.0%	+0.3%
Q2 22	876M	-0.3%	-0.2%
Q3 22	872M	-0.5%	-0.8%
Q4 22	871M	-0.1%	-0.9%
Q1 23	865M	-0.7%	-1.6%
Q2 23	861M	-0.5%	-1.7%
Q3 23	858M	-0.3%	-1.6%
Q4 23	858M	0.0%	-1.5%
Q1 24	857M	-0.1%	-0.9%
Q2 24	857M	0.0%	-0.5%
Q3 24	853M	-0.5%	-0.6%
Q4 24	858M	+0.6%	0.0%
Q1 25	850M	-0.9%	-0.8%
Q2 25	847M	-0.4%	-1.2%
Q3 25	848M	+0.1%	-0.6%
Q4 25	853M	+0.6%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$45.6K	534K
Q2 22	$46.3K	534K
Q3 22	$45.1K	534K
Q4 22	$50.2K	536K
Q1 23	$42.6K	536K
Q2 23	$41.1K	536K
Q3 23	$39.2K	536K
Q4 23	$49.7K	500K
Q1 24	$43.3K	500K
Q2 24	$43.5K	500K
Q3 24	$44.4K	500K
Q4 24	$51.5K	490K
Q1 25	$44.0K	490K
Q2 25	$43.3K	490K
Q3 25	$43.7K	490K
Q4 25	$53.3K	460K

Revenue / Employee