UNITED PARCEL SERVICE INC (UPS)

UNITED PARCEL SERVICE INC (UPS) - Stock Research

Revenue by Segment

Segment	2020	2021	2022	2023	2024	% of Total
Ground	$39.31B	$44.46B	$47.54B	$44.97B	$45.35B	50%
Export	$12.16B	$15.01B	$15.34B	$14.00B	$14.14B	16%
Next Day Air	$8.52B	$10.01B	$10.70B	$9.89B	$9.70B	11%
Logistics	$4.07B	$4.77B	$5.35B	$5.93B	$6.44B	7%
Deferred	$5.67B	$5.85B	$5.97B	$5.09B	$4.76B	5%

	1-Yr	4-Yr
Sales	0.5%	2.3%
Cash Flow	-0.7%	-0.4%
Earnings	-13.5%	44.7%
Dividends	0.9%	13.0%
Book Value	-3.0%	125.6%

	1-Yr	4-Yr
ROIC	21.9%	30.7%
Gross Margin	47.2%	50.0%
FCF Yield	6.1%	6.1%
Buyback Yield	0.5%	1.3%

	Q1	Q2	Q3	Q4
2021	5.47	3.04	2.65	3.52
2022	3.03	3.25	2.96	3.96
2023	2.19	2.42	1.31	1.88
2024	1.30	1.64	1.80	2.01
2025	1.40	1.51	1.55	—

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Financial data for UPS from SEC EDGAR
Metric	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
Earnings Power
Revenue	55.4B	58.2B	58.4B	60.9B	66.6B	71.9B	74.1B	84.6B	97.3B	100.3B	91.0B	91.1B	89.5B
Net Income	4.4B	3.0B	4.8B	3.4B	4.9B	4.8B	4.4B	1.3B	12.9B	11.5B	6.7B	5.8B	5.5B
Owner Earnings	4.9B	3.3B	4.8B	3.7B	-1.4B	9.9B	5.4B	7.0B	11.2B	9.3B	6.7B	6.5B	4.8B
Non-Recurring	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0
Gross Margin	48.5%	45.0%	46.8%	42.9%	48.1%	48.2%	47.5%	47.4%	52.0%	52.4%	48.2%	47.2%	0.0%
Op. Margin	12.7%	8.5%	13.1%	9.0%	11.3%	9.8%	10.5%	9.1%	13.2%	13.0%	10.0%	9.3%	9.2%
Net Margin	7.9%	5.2%	8.3%	5.6%	7.4%	6.7%	6.0%	1.6%	13.2%	11.5%	7.4%	6.3%	6.1%
Returns on Capital
ROE	67.5%	141.6%	196.1%	847.2%	493.5%	238.7%	135.9%	204.4%	90.4%	58.4%	38.8%	34.0%	34.8%
ROA	12.1%	8.6%	12.6%	8.5%	10.8%	10.0%	7.7%	2.2%	18.6%	16.2%	9.5%	8.2%	7.7%
ROIC	38.2%	37.3%	55.8%	44.4%	30.1%	31.8%	31.7%	34.2%	42.4%	34.6%	23.7%	21.9%	19.9%
Cash Flow
Free Cash Flow	5.2B	3.4B	5.1B	3.5B	-3.7B	6.4B	2.3B	5.0B	10.8B	9.3B	5.1B	6.2B	4.4B
CapEx	2.1B	2.3B	2.4B	3.0B	5.2B	6.3B	6.4B	5.4B	4.2B	4.8B	5.2B	3.9B	4.1B
Maint. CapEx	1.9B	1.9B	2.1B	2.2B	2.3B	2.2B	2.4B	2.7B	3.0B	3.2B	3.4B	3.6B	3.6B
Growth CapEx	198M	405M	295M	741M	2.9B	4.1B	4.0B	2.7B	1.2B	1.6B	1.8B	300M	458M
CapEx/OCF	28.3%	40.7%	32.0%	45.8%	353.4%	49.4%	73.9%	51.7%	27.9%	33.8%	50.4%	38.6%	48.1%
D&A	1.9B	1.9B	2.1B	2.2B	2.3B	2.2B	2.4B	2.7B	3.0B	3.2B	3.4B	3.6B	3.6B
Capital Allocation
Op. Cash Flow	7.3B	5.7B	7.4B	6.5B	1.5B	12.7B	8.6B	10.5B	15.0B	14.1B	10.2B	10.1B	8.5B
Dividends Paid	2.3B	2.4B	2.5B	2.6B	2.8B	3.0B	3.2B	3.4B	3.4B	5.1B	5.4B	5.4B	5.4B
Share Buybacks	3.8B	2.7B	2.7B	2.7B	1.8B	1.0B	1.0B	224M	500M	3.5B	2.3B	500M	500M
Buyback Yield	5.9%	3.9%	4.4%	3.7%	2.4%	1.6%	1.2%	0.2%	0.3%	2.7%	1.9%	0.5%	3.9%
Debt Repayment	1.9B	1.7B	2.7B	3.8B	3.9B	2.9B	3.1B	3.4B	2.8B	2.3B	2.4B	2.5B	2.5B
Stock-Based Comp	513M	536M	574M	591M	584M	634M	915M	796M	878M	1.6B	220M	24M	24M
Balance Sheet
Total Assets	36.2B	35.4B	38.3B	40.4B	45.6B	50.0B	57.9B	62.4B	69.4B	71.1B	70.9B	70.1B	71.4B
Intangibles	3.0B	3.0B	5.0B	5.5B	5.8B	5.9B	6.0B	5.6B	6.2B	7.0B	8.2B	7.4B	7.4B
Total Liabilities	29.7B	33.3B	35.8B	40.0B	44.6B	47.0B	54.6B	61.8B	55.2B	51.3B	53.6B	53.4B	3.5B
Equity	6.5B	2.1B	2.5B	405M	994M	3.0B	3.3B	657M	14.3B	19.8B	17.3B	16.7B	15.8B
Net Debt	5.6B	6.6B	6.6B	7.8B	16.2B	14.9B	16.1B	15.7B	9.2B	9.7B	12.8B	13.1B	17.1B
Long-Term Debt	10.8B	9.9B	11.3B	12.4B	20.3B	19.9B	21.8B	22.0B	19.8B	17.3B	18.9B	19.4B	N/A
Debt/Equity	1.67	4.60	4.58	30.60	20.40	6.60	6.68	33.53	1.39	0.88	1.09	1.16	1.51
Interest Coverage	18.5	14.1	22.5	14.3	16.6	11.6	11.9	11.0	18.5	18.6	11.6	9.8	9.8
Working Capital	6.3B	2.6B	2.5B	2.1B	2.8B	2.1B	1.7B	3.2B	7.4B	4.1B	1.7B	2.9B	2.9B
Current Assets	13.4B	11.2B	13.2B	13.8B	15.7B	16.2B	17.1B	20.2B	24.9B	22.2B	19.4B	19.3B	19.3B
Current Liabilities	7.1B	8.6B	10.7B	11.7B	12.9B	14.1B	15.4B	17.0B	17.6B	18.1B	17.7B	16.4B	16.4B
Retained Earnings	6.9B	5.7B	6.0B	4.9B	5.9B	8.0B	9.1B	6.9B	16.2B	21.3B	21.1B	20.9B	20.9B
Per Share Data
Avg. Price	57.27	66.96	68.98	74.49	81.20	84.99	85.66	103.76	156.57	160.09	149.64	127.33	117.34
EPS	4.61	3.28	5.35	3.87	5.61	5.51	5.11	1.54	14.68	13.20	7.80	6.75	6.47
Owner EPS	5.19	3.53	5.27	4.13	-1.59	11.35	6.17	7.99	12.73	10.69	7.73	7.58	44.15
Book Value	6.83	2.32	2.73	0.46	1.14	3.47	3.76	0.75	16.23	22.62	20.12	19.52	144.64
Cash Flow/Share	7.70	6.19	8.21	7.30	1.69	14.62	9.94	11.99	17.09	16.12	11.90	11.82	83.28
Dividends/Share	2.38	2.56	2.79	2.98	3.17	3.46	3.68	3.87	3.91	5.85	6.25	6.30	49.32
Shares Out.	948.4M	924.4M	905.4M	886.6M	874.3M	869.5M	868.9M	872.1M	878.1M	874.8M	860.0M	856.6M	109.4M
Valuation
P/E Ratio	14.9	23.0	12.6	21.3	15.6	13.3	18.3	90.5	12.2	11.3	18.0	17.5	18.1
Price/Book	10.1	32.6	24.7	180.2	77.1	21.1	24.9	185.0	11.0	6.6	7.0	6.0	0.8
Price/Sales	1.0	1.1	1.1	1.1	1.1	1.0	1.0	1.1	1.4	1.4	1.4	1.2	0.1
EV/EBIT	10.1	15.4	8.8	14.8	12.3	11.2	12.5	17.9	12.9	10.7	14.6	13.5	3.6
FCF Yield	8.0%	4.9%	8.3%	4.8%	-4.9%	10.1%	2.8%	4.2%	6.9%	7.2%	4.2%	6.1%	34.2%
Market Cap	65.2B	69.7B	60.9B	73.0B	76.7B	63.8B	81.4B	121.6B	156.6B	130.4B	120.8B	101.1B	12.8B
Year-End Price	68.72	75.45	67.29	82.32	87.69	73.42	93.64	139.40	178.40	149.04	140.42	118.00	117.34

UNITED PARCEL SERVICE INC

Business Description

Revenue by Segment

Quality Checklist