UPS
United Parcel Service Inc.Stock · IndustrialsS&P 500 Equal Weight 0.2% · S&P 500 0.1% · Russell 1000 0.1% · US Stock Market 0.1% · Russell 3000 0.1% · MSCI World 0.09% · MSCI ACWI 0.08%$100.28+0.31%
as of market close, Sep 11, 2026
☾ AH — —
UPS financial statements
The full income statement, balance sheet, and cash-flow statement for United Parcel Service Inc. (UPS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 856.6M2024-09 853.4M2024-12 854.2M2025-03 846.8M2025-06 847.6M2025-09 848.4M2025-12 849.1M2026-03 850.0M2026-06 850.8M-0.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 88.7B-2.6% | 91.1B+0.1% | 91.0B-9.3% | 100B+3.1% | 97.3B+15.0% | |
| Amortization of intangibles | 700M+8.0% | 648M+8.5% | 597M+13.7% | 525M+10.5% | 475M+14.2% | |
| Provision for credit losses | 371M+19.3% | 311M+51.7% | 205M-4.2% | 214M+22.3% | 175M-31.1% | |
| Operating income | 7.87B-7.1% | 8.47B-7.4% | 9.14B-30.2% | 13.1B+2.2% | 12.8B+66.7% | |
| Interest expense | 1.02B+17.4% | 866M+10.3% | 785M+11.5% | 704M+1.4% | 694M-1.0% | |
| Other non-operating income | -703M+31.5% | -1.03B-80.6% | -568M-132.8% | 1.73B-54.3% | 3.79B+164.8% | |
| Pre-tax income | 7.16B-3.7% | 7.44B-13.2% | 8.57B-42.2% | 14.8B-10.7% | 16.6B+799.9% | |
| Income tax | 1.59B-4.1% | 1.66B-11.0% | 1.86B-43.1% | 3.28B-11.6% | 3.71B+639.5% | |
| Net income | 5.57B-3.6% | 5.78B-13.8% | 6.71B-41.9% | 11.5B-10.4% | 12.9B+859.8% | |
| $6.56-2.8% | $6.75-13.5% | $7.80-40.9% | $13.20-10.1% | $14.68+853.2% | ||
| EPS (basic) | $6.56-3.0% | $6.76-13.4% | $7.81-41.1% | $13.26-10.1% | $14.75+851.6% | |
| Weighted-avg shares (basic) | 849M-0.7% | 855M-0.5% | 859M-1.4% | 871M-0.3% | 874M+0.8% | |
| Weighted-avg shares (diluted) | 850M-0.7% | 856M-0.5% | 860M-1.7% | 875M-0.3% | 878M+0.8% | |
| Dividends per share | $6.56+0.6% | $6.52+0.6% | $6.48+6.6% | $6.08+49.0% | $4.08+5.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 19.0B-1.4% | 19.3B-0.5% | 19.4B-12.6% | 22.2B-10.9% | 24.9B+23.3% | ||
| Cash & equivalents | 5.89B-3.7% | 6.11B+90.6% | 3.21B-42.8% | 5.60B-45.4% | 10.3B+73.5% | |
| Short-term investments | — | 206M-92.8% | 2.87B+43.8% | 1.99B+489.6% | 338M-16.7% | |
| Accounts receivable | 11.2B+3.1% | 10.9B-3.1% | 11.2B-10.9% | 12.6B+0.3% | 12.5B+16.7% | |
| Inventory | 739M-10.5% | 826M-11.7% | 935M+5.2% | 889M+24.0% | 717M+15.6% | |
| Other current assets | 1.95B-16.2% | 2.33B+9.5% | 2.13B+4.2% | 2.04B+13.3% | 1.80B-7.8% | |
| 73.1B+4.3% | 70.1B-1.1% | 70.9B-0.4% | 71.1B+2.5% | 69.4B+11.2% | ||
| Property, plant & equipment | — | — | — | 34.7B+3.7% | 33.5B+3.8% | |
| Operating lease right-of-use | 4.26B+2.7% | 4.15B-3.7% | 4.31B+14.7% | 3.75B+5.4% | 3.56B+15.9% | |
| Goodwill | 5.84B+35.7% | 4.30B-11.7% | 4.87B+15.4% | 4.22B+14.4% | 3.69B+9.7% | |
| Intangible assets | 4.02B+31.2% | 3.06B-7.3% | 3.31B+18.2% | 2.80B+12.5% | 2.49B+9.3% | |
| Other non-current assets | 2.05B+5.0% | 1.96B+3.6% | 1.89B-42.4% | 3.27B+203.2% | 1.08B+60.7% | |
| 15.6B-5.0% | 16.4B-7.0% | 17.7B-2.6% | 18.1B+3.3% | 17.6B+3.2% | ||
| Accounts payable | 6.63B+5.3% | 6.30B-0.6% | 6.34B-15.6% | 7.51B-0.1% | 7.52B+16.5% | |
| Deferred revenue | 0.00 | 0.00-100.0% | 20.0M+81.8% | 11.0M-59.3% | 27.0M+28.6% | |
| Short-term & current debt | 608M-66.9% | 1.84B-45.1% | 3.35B+43.0% | 2.34B+9.9% | 2.13B-18.8% | |
| Current lease liability | 763M+4.1% | 733M+3.4% | 709M+14.2% | 621M+7.1% | 580M+3.6% | |
| Other current liabilities | 1.38B-4.3% | 1.44B+14.4% | 1.26B-14.4% | 1.47B+2.6% | 1.43B-1.4% | |
| Finance lease liability (current) | 107M+2.9% | 104M+0.0% | 104M+13.0% | 92.0M-28.7% | 129M+130.4% | |
| Long-term debt | 23.6B+12.1% | 21.0B-4.4% | 22.0B+27.0% | 17.3B-12.4% | 19.8B-10.2% | |
| Deferred revenue (non-current) | 49.0M+81.5% | 27.0M+8.0% | 25.0M-3.8% | 26.0M+4.0% | 25.0M-3.8% | |
| Non-current lease liability | 3.70B+1.8% | 3.63B-3.2% | 3.76B+16.0% | 3.24B+6.8% | 3.03B+19.4% | |
| Operating lease liability (total) | 4.46B+2.2% | 4.37B-2.2% | 4.46B+15.7% | 3.86B+6.8% | 3.61B+16.5% | |
| Finance lease liability (total) | 781M+71.6% | 455M-3.6% | 472M+21.0% | 390M-4.4% | 408M+19.3% | |
| Finance lease liability | 674M+92.0% | 351M-4.6% | 368M+23.5% | 298M+6.8% | 279M-2.4% | |
| Deferred tax liabilities | 3.69B+2.6% | 3.60B-4.7% | 3.77B-12.3% | 4.30B+37.7% | 3.13B+540.4% | |
| Other non-current liabilities | 3.74B+11.6% | 3.35B+2.7% | 3.26B-7.1% | 3.51B-1.8% | 3.58B-7.0% | |
| 16.2B-2.9% | 16.7B-3.4% | 17.3B-12.5% | 19.8B+38.8% | 14.3B+2069.4% | ||
| Additional paid-in capital | 275M+102.2% | 136M | 0.00 | 0.00-100.0% | 1.34B+55.3% | |
| Retained earnings | 20.2B-3.5% | 20.9B-0.8% | 21.1B-1.3% | 21.3B+31.8% | 16.2B+134.6% | |
| Treasury stock | 5.00M-28.6% | 7.00M-22.2% | 9.00M-30.8% | 13.0M-18.8% | 16.0M-20.0% | |
| Accumulated other comprehensive income | -4.21B+2.3% | -4.31B-14.7% | -3.76B-142.6% | -1.55B+52.7% | -3.28B+53.9% | |
| Non-controlling interest | 28.0M+12.0% | 25.0M+212.5% | 8.00M-52.9% | 17.0M+6.3% | 16.0M+33.3% | |
| Total equity incl. non-controlling | 16.3B-2.9% | 16.7B-3.3% | 17.3B-12.6% | 19.8B+38.8% | 14.3B+2032.9% | |
| Total liabilities & equity | 73.1B+4.3% | 70.1B-1.1% | 70.9B-0.4% | 71.1B+2.5% | 69.4B+11.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 8.45B-16.5% | 10.1B-1.1% | 10.2B-27.4% | 14.1B-6.0% | 15.0B+43.5% | ||
| Depreciation & amortization | 3.75B+24.9% | 3.00B+7.1% | 2.80B-12.2% | 3.19B+8.0% | 2.95B+9.5% | |
| Intangible amortization | 700M+8.0% | 648M+8.5% | 597M+13.7% | 525M+10.5% | 475M+14.2% | |
| Share-based compensation | 73.0M+204.2% | 24.0M-89.1% | 220M-86.0% | 1.57B+78.6% | 878M+10.3% | |
| Deferred income taxes | -8.00M+46.7% | -15.0M-107.5% | 199M-62.5% | 531M-67.7% | 1.65B+291.7% | |
| Change in receivables | 382M-32.5% | 566M+145.1% | -1.26B-490.1% | 322M-85.0% | 2.15B+37.5% | |
| Change in payables | -190M-172.5% | 262M+119.0% | -1.38B-4150.0% | 34.0M-97.3% | 1.26B+39.9% | |
| -4.74B-2082.0% | -217M+97.0% | -7.13B+4.5% | -7.47B-95.7% | -3.82B+27.7% | ||
| Capital expenditure | 3.69B-5.7% | 3.91B-24.2% | 5.16B+8.2% | 4.77B+13.7% | 4.19B-22.5% | |
| Free cash flow | 4.76B-23.3% | 6.21B+22.3% | 5.08B-45.6% | 9.34B-13.7% | 10.8B+114.2% | |
| Acquisitions | 1.97B+2671.8% | 71.0M-94.7% | 1.33B+76.0% | 755M+25.4% | 602M+2910.0% | |
| Purchases of investments | 90.0M+18.4% | 76.0M-97.8% | 3.52B+84.7% | 1.91B+510.9% | 312M+22.8% | |
| Sales/maturities of investments | 293M-89.3% | 2.75B+1.7% | 2.70B+959.2% | 255M-30.3% | 366M+1.7% | |
| Proceeds from sale of PP&E | — | — | — | 12.0M | — | |
| Other investing activities | -15.0M-162.5% | 24.0M+26.3% | 19.0M-93.9% | 309M+694.2% | -52.0M-226.8% | |
| -4.14B+39.5% | -6.85B-23.8% | -5.53B+50.5% | -11.2B-63.9% | -6.82B-51.1% | ||
| Long-term debt issued | 4.15B+49.1% | 2.79B-18.8% | 3.43B | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 2.07B-16.8% | 2.49B+2.4% | 2.43B+5.4% | 2.30B-16.9% | 2.77B-18.2% | |
| Net short-term debt | 0.00+100.0% | -1.27B-200.0% | 1.27B | 0.00 | 0.00+100.0% | |
| Common stock issued | 159M-31.5% | 232M-6.5% | 248M-5.3% | 262M+4.4% | 251M-11.9% | |
| Common stock repurchased | 1.00B+100.0% | 500M-77.8% | 2.25B-35.7% | 3.50B+600.0% | 500M+123.2% | |
| Dividends paid | 5.40B-0.0% | 5.40B+0.5% | 5.37B+5.0% | 5.11B+48.8% | 3.44B+1.9% | |
| Other financing activities | 14.0M+106.7% | -209M+51.6% | -432M+18.3% | -529M-45.3% | -364M-3.1% | |
| FX effect on cash | 201M+234.9% | -149M-551.5% | 33.0M+133.0% | -100M-376.2% | -21.0M-261.5% | |
| Net change in cash | -225M-107.7% | 2.91B+221.3% | -2.40B+48.5% | -4.65B-207.1% | 4.34B+546.6% | |
| Interest paid | 990M+15.9% | 854M+12.1% | 762M+5.7% | 721M+3.4% | 697M+0.9% | |
| Income taxes paid | 1.91B+41.9% | 1.35B-31.8% | 1.98B-23.2% | 2.57B+37.7% | 1.87B+64.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 84.3B-21.9% | 108B-20.0% | 135B-11.0% | 152B-19.4% | 188B+27.9% | |
| P/E | 15.1×-18.9% | 18.7×+18.4% | 15.8×+16.4% | 13.5×-7.2% | 14.6×-86.7% | |
| P/S | 1.0×-19.8% | 1.2×-18.2% | 1.4×-3.4% | 1.5×-22.5% | 1.9×+11.2% | |
| P/B | 5.2×-19.5% | 6.5×-8.3% | 7.0×-21.2% | 8.9×-32.3% | 13.2×-94.1% | |
| P/FCF | 17.7×+1.8% | 17.4×-28.4% | 24.3×+61.9% | 15.0×-13.9% | 17.4×-40.3% | |
| Earnings yield | 6.6%+23.4% | 5.4%-15.5% | 6.3%-14.1% | 7.4%+7.8% | 6.8%+650.6% | |
| FCF yield | 5.7%-1.8% | 5.8%+39.7% | 4.1%-38.3% | 6.7%+16.1% | 5.7%+67.6% | |
| Dividend yield | 6.6%+27.9% | 5.2%+25.5% | 4.1%+17.8% | 3.5%+83.7% | 1.9%-17.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: UPS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all UPS filings on SEC EDGAR → Not investment advice.