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United Parcel Service Inc (UPS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Air Freight & Logistics · DATA UPDATED 2026-07-13

United Parcel Service Inc (UPS) operates in the Air Freight & Logistics industry and is headquartered in Atlanta, United States with about 460,000 employees. Its market capitalization is roughly $98 billion. In the fiscal year ended 2025-12-31, UPS reported $88.7B in revenue and $5.6B in net income.

United Parcel Service, Inc., a package delivery and logistics provider, offers transportation and delivery services. It operates through two segments, U.S. Domestic Package and International Package. The U.S.

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UPS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$88.3B	$88.7B	$90.9B	$90.7B	$100.0B	$97.2B	$84.4B	$73.9B	$71.9B	$65.9B	$60.9B	$58.4B	$58.2B	$55.4B	$54.1B	$53.2B	$49.4B	$45.1B	$51.5B	$49.7B	$47.5B
Gross Profit	$15.7B	$16.0B	$17.1B	$17.7B	$20.1B	$17.4B	$21.8B	$16.1B	$14.2B	$7.5B	$5.5B	$27.3B	$26.2B	$26.9B	$21.0B	$11.2B	$9.7B	$7.9B	$10.7B	$5.3B	$11.1B
Gross Margin %	17.8%	18.1%	18.8%	19.5%	20.1%	17.9%	25.8%	21.8%	19.7%	11.4%	9.0%	46.8%	45.0%	48.5%	38.8%	21.0%	19.7%	17.6%	20.8%	10.7%	23.4%
Operating Income (EBIT)	$7.5B	$7.9B	$8.7B	$9.4B	$13.0B	$13.1B	$7.8B	$7.9B	$7.1B	$7.5B	$5.5B	$7.7B	$5.0B	$7.0B	$1.3B	$6.1B	$5.7B	$3.9B	$6.0B	$873M	$6.6B
Operating Margin %	8.5%	8.9%	9.6%	10.3%	13.0%	13.5%	9.3%	10.7%	9.8%	11.4%	9.0%	13.1%	8.5%	12.7%	2.5%	11.5%	11.6%	8.6%	11.6%	1.8%	14.0%
Net Income	$5.2B	$5.6B	$5.8B	$6.7B	$11.5B	$12.9B	$1.3B	$4.4B	$4.8B	$4.9B	$3.4B	$4.8B	$3.0B	$4.4B	$807M	$3.8B	$3.5B	$2.2B	$3.0B	$382M	$4.2B
Net Margin %	5.9%	6.3%	6.4%	7.4%	11.5%	13.3%	1.6%	6.0%	6.7%	7.4%	5.6%	8.3%	5.2%	7.9%	1.5%	7.1%	7.0%	4.8%	5.8%	0.8%	8.8%
EBITDA	$11.6B	$11.9B	$11.9B	$12.7B	$18.7B	$20.2B	$5.2B	$8.6B	$8.8B	$9.8B	$7.7B	$9.8B	$6.9B	$8.9B	$3.2B	$8.2B	$7.8B	$5.6B	$7.3B	$2.4B	$8.5B
Earnings Per Share (EPS)	$6.18	$6.56	$6.75	$7.80	$13.26	$14.68	$1.54	$5.11	$5.51	$5.61	$3.87	$5.35	$3.28	$4.61	$0.83	$3.84	$3.48	$2.14	$2.94	$0.36	$3.86
Shares Outstanding (M)	850M	850M	856M	860M	871M	878M	871M	869M	870M	875M	887M	906M	924M	948M	969M	991M	1,003M	1,004M	1,022M	1,063M	1,089M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UPS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$21.2B	$24.5B	$21.4B	$21.2B	$21.5B	$25.2B	$22.2B	$21.8B
Gross Profit	$3.4B	$5.1B	$3.5B	$3.8B	$3.7B	$5.3B	$3.8B	$3.8B
Gross Margin %	15.8%	20.8%	16.3%	17.8%	17.1%	20.8%	17.1%	17.3%
Operating Income (EBIT)	$1.3B	$2.6B	$1.8B	$1.8B	$1.7B	$3.0B	$2.1B	$1.9B
Operating Margin %	6.0%	10.5%	8.4%	8.6%	7.7%	11.8%	9.5%	8.9%
Net Income	$864M	$1.8B	$1.3B	$1.3B	$1.2B	$1.7B	$1.5B	$1.4B
Net Margin %	4.1%	7.3%	6.1%	6.0%	5.5%	6.8%	6.9%	6.5%
EBITDA	$2.4B	$3.6B	$2.8B	$2.8B	$2.7B	$3.3B	$3.0B	$3.0B
Earnings Per Share (EPS)	$1.02	$2.10	$1.55	$1.51	$1.40	$2.01	$1.80	$1.64
Shares Outstanding (M)	850M	853M	848M	847M	850M	858M	853M	857M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UPS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$8.4B	$8.4B	$10.1B	$10.2B	$14.1B	$15.0B	$10.5B	$8.6B	$12.7B	$1.5B	$6.5B	$7.4B	$5.7B	$7.3B	$7.2B	$7.1B	$3.8B	$5.3B	$8.4B	$1.1B	$5.6B
Capital Expenditures (CapEx)	$3.8B	$3.7B	$3.9B	$5.2B	$4.8B	$4.2B	$5.4B	$6.4B	$6.3B	$5.2B	$3.0B	$2.4B	$2.3B	$2.1B	$2.2B	$2.0B	$1.4B	$1.6B	$2.6B	$2.8B	$3.1B
Free Cash Flow (FCF)	$4.5B	$4.8B	$6.2B	$5.1B	$9.3B	$10.8B	$5.0B	$2.3B	$6.4B	($3.7B)	$3.5B	$5.1B	$3.4B	$5.2B	$5.1B	$5.1B	$2.4B	$3.7B	$5.8B	($1.7B)	$2.5B
FCF Margin %	5.1%	5.4%	6.8%	5.6%	9.3%	11.1%	6.0%	3.1%	8.9%	-5.7%	5.8%	8.6%	5.8%	9.4%	9.3%	9.5%	5.0%	8.2%	11.2%	-3.4%	5.3%
Dividends Paid	$5.4B	$5.4B	$5.4B	$5.4B	$5.1B	$3.4B	$3.4B	$3.2B	$3.0B	$2.8B	$2.6B	$2.5B	$2.4B	$2.3B	$2.1B	$2.0B	$1.8B	$1.8B	$2.2B	$1.7B	$1.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UPS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.2B	$3.3B	$2.5B	$348M	$2.3B	$3.3B	$1.5B	$2.0B
Capital Expenditures (CapEx)	$1.0B	$716M	$970M	$1.1B	$876M	$1.1B	$843M	$933M
Free Cash Flow (FCF)	$1.2B	$2.6B	$1.5B	($775M)	$1.4B	$2.2B	$655M	$1.1B
FCF Margin %	5.6%	10.6%	7.1%	-3.6%	6.7%	8.8%	2.9%	4.9%
Dividends Paid	$1.4B	$1.4B	$1.3B	$1.3B	$1.3B	$1.4B	$1.3B	$1.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UPS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$71.8B	$73.1B	$70.1B	$70.9B	$71.1B	$69.4B	$62.4B	$57.9B	$49.6B	$45.4B	$40.4B	$38.3B	$35.4B	$36.2B	$38.9B	$34.7B	$33.6B	$31.9B	$31.9B	$39.0B	$33.2B
Cash & Cash Equivalents	$5.8B	$5.9B	$6.1B	$3.2B	$5.6B	$10.3B	$5.9B	$5.2B	$4.2B	$3.3B	$3.5B	$2.7B	$2.3B	$4.7B	$7.3B	$3.0B	$3.4B	$1.5B	$507M	$2.0B	$794M
Total Liabilities	$56.0B	$56.8B	$53.3B	$53.5B	$51.3B	$55.1B	$61.7B	$54.6B	$46.6B	$44.4B	$40.0B	$35.8B	$33.3B	$29.7B	$34.1B	$27.6B	$25.6B	$24.2B	$25.1B	$26.9B	$17.7B
Total Debt (Short + Long-Term)	$25.1B	$24.9B	$22.0B	$23.0B	$20.3B	$22.5B	$25.2B	$25.8B	$22.7B	$24.3B	$16.1B	$14.4B	$10.8B	$10.9B	$12.9B	$11.1B	$10.8B	$9.5B	$9.9B	$11.0B	$4.1B
Total Shareholders' Equity	$15.8B	$16.2B	$16.7B	$17.3B	$19.8B	$14.3B	$657M	$3.3B	$3.0B	$1.0B	$429M	$2.5B	$2.1B	$6.5B	$4.7B	$7.0B	$8.0B	$7.6B	$6.8B	$12.2B	$15.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive UPS viewer.

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