Income Statement United Parcel Service, Inc.

Equities

UPS

US9113121068

Air Freight & Logistics

Market Closed - Nyse Other stock markets 04:00:02 2025-01-17 pm EST			5-day change	1st Jan Change
129.73 ^USD	-0.16%		+3.78%	+2.88%

Jan. 16	BofA Securities Upgrades United Parcel Service to Buy From Neutral, $150 Price Target	MT
Jan. 16	UPS: stock outperforms, BofA upgrades to buy	CF

925e011f148d7b.LUGoQY8MO_FPRl22k7wppaoRuJJedVlmS-MeXsjrxUo.WSqZdsxZdrQEFmXOy_Bq8ulG3dgzRhAxHLZaFIqvtA8eBNsMuk8OkzUFDA

Published financial data: UNITED PARCEL SERVICE, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	74.09B	84.63B	97.29B	100B	90.96B
Total Revenues	74.09B	84.63B	97.29B	100B	90.96B
Cost of Goods Sold, Total	58.07B	66.65B	73.69B	75.25B	70.07B
Gross Profit	16.02B	17.97B	23.6B	25.09B	20.89B
Depreciation & Amortization - (IS)	2.36B	2.7B	2.95B	3.19B	3.37B
Other Operating Expenses	5.74B	7.38B	7.65B	8.11B	7.74B
Other Operating Expenses, Total	8.1B	10.08B	10.6B	11.3B	11.1B
Operating Income	7.92B	7.89B	13B	13.78B	9.78B
Interest Expense, Total	-653M	-701M	-694M	-704M	-785M
Interest And Investment Income	1.12B	1.56B	1.39B	1.4B	742M
Net Interest Expenses	468M	857M	692M	696M	-43M
Currency Exchange Gains (Loss)	-6M	9M	-36M	71M	-54M
EBT, Excl. Unusual Items	8.38B	8.76B	13.65B	14.55B	9.69B
Restructuring Charges	-255M	-348M	-380M	-178M	-435M
Merger & Related Restructuring Charges	-	-	-	-25M	-12M
Impairment of Goodwill	-	-	-	-	-125M
Gain (Loss) On Sale Of Investments	6M	5M	5M	-3M	-3M
Gain (Loss) On Sale Of Assets	-	-	46M	-	-8M
Asset Writedown	-	-	-	-76M	-111M
Legal Settlements	-97M	-	-	-	-
Other Unusual Items	-2.39B	-6.57B	3.27B	556M	-420M
EBT, Incl. Unusual Items	5.65B	1.84B	16.6B	14.82B	8.57B
Income Tax Expense	1.21B	501M	3.7B	3.28B	1.86B
Earnings From Continuing Operations	4.44B	1.34B	12.89B	11.55B	6.71B
Net Income to Company	4.44B	1.34B	12.89B	11.55B	6.71B
Net Income - (IS)	4.44B	1.34B	12.89B	11.55B	6.71B
Net Income to Common Incl Extra Items	4.44B	1.34B	12.89B	11.55B	6.71B
Net Income to Common Excl. Extra Items	4.44B	1.34B	12.89B	11.55B	6.71B
Per Share Items
Net EPS - Basic	5.14	1.55	14.75	13.26	7.81
Basic EPS - Continuing Operations	5.14	1.55	14.75	13.26	7.81
Basic Weighted Average Shares Outstanding	864M	867M	874M	871M	859M
Net EPS - Diluted	5.11	1.54	14.68	13.2	7.8
Diluted EPS - Continuing Operations	5.11	1.54	14.68	13.2	7.8
Diluted Weighted Average Shares Outstanding	869M	871M	878M	875M	860M
Normalized Basic EPS	6.07	6.31	9.76	10.44	7.05
Normalized Diluted EPS	6.03	6.29	9.72	10.39	7.04
Dividend Per Share	3.84	4.04	4.08	6.08	6.48
Payout Ratio	71.94	251.23	26.66	44.28	80.08
American Depositary Receipts Ratio (ADR)	0.06	0.06	0.06	0.06	0.06
Supplemental Items
EBITDA	10.28B	10.59B	15.95B	16.97B	13.15B
EBITA	8.3B	8.31B	13.47B	14.31B	10.38B
EBIT	7.92B	7.89B	13B	13.78B	9.78B
EBITDAR	12.25B	12.85B	18.43B	19.48B	15.46B
Effective Tax Rate - (Ratio)	21.44	27.17	22.33	22.1	21.75
Current Domestic Taxes	753M	939M	1.58B	2.28B	1.21B
Current Foreign Taxes	359M	420M	478M	467M	459M
Total Current Taxes	1.11B	1.36B	2.06B	2.75B	1.67B
Deferred Domestic Taxes	162M	-884M	1.58B	432M	170M
Deferred Foreign Taxes	-62M	26M	61M	99M	29M
Total Deferred Taxes	100M	-858M	1.64B	531M	199M
Normalized Net Income	5.24B	5.48B	8.53B	9.09B	6.05B
Interest Capitalized	91M	87M	58M	60M	118M
Interest on Long-Term Debt	110M	105M	72M	74M	136M
Non-Cash Pension Expense	1.48B	4.84B	-4.56B	-2.33B	-11M
Supplemental Operating Expense Items
Net Rental Expense, Total	1.97B	2.26B	2.48B	2.5B	2.3B
Imputed Operating Lease Interest Expense	460M	509M	561M	624M	663M
Imputed Operating Lease Depreciation	1.51B	1.75B	1.92B	1.88B	1.64B
Maintenance & Repair Expenses, Total	1.84B	2.36B	2.44B	2.52B	2.83B
Stock-Based Comp., Other (Total)	915M	796M	878M	1.57B	220M
Total Stock-Based Compensation	915M	796M	878M	1.57B	220M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	5.24B	5.91B	10.26B	5.6B	3.21B
Short Term Investments	503M	406M	338M	1.99B	2.87B
Trading Asset Securities, Total	2M	2M	11M	-	-
Total Cash And Short Term Investments	5.74B	6.32B	10.6B	7.6B	6.07B
Accounts Receivable, Total	9.82B	11.03B	12.84B	12.89B	11.45B
Other Receivables	382M	-	-	-	-
Total Receivables	10.21B	11.03B	12.84B	12.89B	11.45B
Inventory	511M	620M	717M	889M	935M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	643M	2.25B	768M	842M	953M
Total Current Assets	17.1B	20.22B	24.93B	22.22B	19.41B
Gross Property Plant And Equipment	62.58B	65.16B	68.37B	71.18B	75.82B
Accumulated Depreciation	-29.24B	-29.84B	-31.33B	-32.71B	-34.57B
Net Property Plant And Equipment	33.34B	35.33B	37.04B	38.47B	41.25B
Long-term Investments	55M	29M	-	287M	342M
Goodwill	3.81B	3.37B	3.69B	4.22B	4.87B
Other Intangibles, Total	2.17B	2.27B	2.49B	2.8B	3.3B
Deferred Tax Assets Long-Term	330M	527M	176M	139M	126M
Other Long-Term Assets, Total	1.05B	668M	1.08B	2.99B	1.55B
Total Assets	57.86B	62.41B	69.4B	71.12B	70.86B
Liabilities
Accounts Payable, Total	5.56B	6.46B	7.52B	7.51B	6.34B
Accrued Expenses, Total	4.49B	5.8B	6.06B	6.24B	6.19B
Short-term Borrowings	3.23B	15M	-	-	2.17B
Current Portion of Long-Term Debt	5M	2.55B	2B	2.25B	1.07B
Current Portion of Leases	719M	616M	709M	713M	813M
Unearned Revenue Current, Total	7M	21M	27M	11M	20M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	1.4B	1.56B	1.25B	1.42B	1.07B
Total Current Liabilities	15.41B	17.02B	17.57B	18.14B	17.68B
Long-Term Debt	21.52B	21.76B	19.52B	17.03B	18.55B
Long-Term Leases	2.71B	2.83B	3.31B	3.54B	4.12B
Unearned Revenue Non Current	26M	26M	25M	26M	25M
Pension & Other Post Retirement Benefits	11.45B	16.65B	8.88B	5.63B	6.97B
Deferred Tax Liability Non Current	1.63B	488M	3.12B	4.3B	3.77B
Other Non Current Liabilities	1.83B	2.97B	2.71B	2.66B	2.43B
Total Liabilities	54.57B	61.74B	55.14B	51.32B	53.54B
Common Stock, Total	9M	9M	9M	9M	9M
Additional Paid In Capital	150M	865M	1.34B	-	-
Retained Earnings	9.1B	6.9B	16.18B	21.33B	21.06B
Treasury Stock	-26M	-20M	-16M	-13M	-9M
Comprehensive Income and Other	-5.97B	-7.09B	-3.26B	-1.54B	-3.75B
Total Common Equity	3.27B	657M	14.25B	19.79B	17.31B
Minority Interest	16M	12M	16M	17M	8M
Total Equity	3.28B	669M	14.27B	19.8B	17.31B
Total Liabilities And Equity	57.86B	62.41B	69.4B	71.12B	70.86B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	858M	867M	870M	859M	853M
ECS Total Common Shares Outstanding	857M	865M	870M	859M	853M
Book Value / Share	3.81	0.76	16.38	23.03	20.29
Tangible Book Value	-2.71B	-4.98B	8.08B	12.77B	9.13B
Tangible Book Value Per Share	-3.17	-5.76	9.28	14.86	10.7
Total Debt	28.18B	27.77B	25.54B	23.53B	26.73B
Net Debt	22.44B	21.45B	14.93B	15.93B	20.66B
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.22B	13.27B	5.42B	1.22B	3.93B
Debt Equivalent Oper. Leases	15.77B	18.06B	19.88B	20.04B	18.44B
Minority Interest, Total (Incl. Fin. Div)	16M	12M	16M	17M	8M
Equity Method Investments, Total	-	-	-	256M	295M
Account Code - Inventory Valuation	6	6	6	6	6
Land - (BS)	2.09B	2.05B	2.14B	2.14B	2.14B
Buildings, Total	9.67B	10.35B	10.81B	11.1B	11.5B
Machinery, Total	43.6B	47.64B	50.44B	51.78B	54.63B
Full Time Employees	260K	274K	268K	273K	265K
Part Time Employees	235K	269K	266K	263K	235K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Assets on Operating Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	93M	138M	128M	146M	126M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	4.44B	1.34B	12.89B	11.55B	6.71B
Depreciation & Amortization - CF	1.98B	2.28B	2.48B	2.66B	2.77B
Amortization of Goodwill and Intangible Assets - (CF)	377M	416M	475M	525M	597M
Depreciation & Amortization, Total	2.36B	2.7B	2.95B	3.19B	3.37B
(Gain) Loss From Sale Of Asset	74M	917M	137M	123M	265M
Stock-Based Compensation (CF)	915M	796M	878M	1.57B	220M
Other Operating Activities, Total	714M	3.62B	-1.19B	-1.95B	51M
Change In Accounts Receivable	-717M	-1.56B	-2.15B	-322M	1.26B
Change In Accounts Payable	419M	904M	1.26B	34M	-1.38B
Change in Other Net Operating Assets	434M	1.74B	218M	-81M	-251M
Cash from Operations	8.64B	10.46B	15.01B	14.1B	10.24B
Capital Expenditure	-6.38B	-5.41B	-4.19B	-4.77B	-5.16B
Sale of Property, Plant, and Equipment	65M	40M	-	-	193M
Cash Acquisitions	-6M	-20M	-602M	-755M	-1.33B
Divestitures	-	-	872M	12M	-
Investment in Marketable and Equity Securities, Total	322M	106M	54M	-1.65B	-820M
Net (Increase) Decrease in Loans Originated / Sold - Investing	13M	44M	34M	24M	-
Other Investing Activities, Total	-75M	-41M	18M	-333M	-19M
Cash from Investing	-6.06B	-5.28B	-3.82B	-7.47B	-7.13B
Short Term Debt Issued, Total	310M	-	-	-	1.27B
Long-Term Debt Issued, Total	5.2B	5B	-	-	3.43B
Total Debt Issued	5.52B	5B	-	-	4.7B
Short Term Debt Repaid, Total	-	-2.46B	-	-	-
Long-Term Debt Repaid, Total	-3.1B	-3.39B	-2.77B	-2.3B	-2.43B
Total Debt Repaid	-3.1B	-5.85B	-2.77B	-2.3B	-2.43B
Issuance of Common Stock	218M	285M	251M	262M	248M
Repurchase of Common Stock	-1B	-224M	-500M	-3.5B	-2.25B
Common Dividends Paid	-3.19B	-3.37B	-3.44B	-5.11B	-5.37B
Common & Preferred Stock Dividends Paid	-3.19B	-3.37B	-3.44B	-5.11B	-5.37B
Other Financing Activities, Total	-166M	-353M	-364M	-529M	-432M
Cash from Financing	-1.73B	-4.52B	-6.82B	-11.18B	-5.53B
Foreign Exchange Rate Adjustments	20M	13M	-21M	-100M	33M
Net Change in Cash	871M	672M	4.34B	-4.65B	-2.4B
Supplemental Items
Cash Interest Paid	628M	691M	697M	721M	762M
Cash Income Tax Paid (Refund)	514M	1.14B	1.87B	2.57B	1.98B
Levered Free Cash Flow	1.43B	2.42B	7.92B	8.19B	3.77B
Unlevered Free Cash Flow	1.83B	2.85B	8.35B	8.63B	4.26B
Change In Net Working Capital	13M	161M	-594M	-28M	278M
Net Debt Issued / Repaid	2.42B	-851M	-2.77B	-2.3B	2.27B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	9.18	8.2	12.32	12.26	8.61
Return on Total Capital	17.29	16.47	23.8	20.72	14
Return On Equity %	140.51	67.97	172.58	67.79	36.15
Return on Common Equity	141.22	68.45	172.9	67.85	36.17
Margin Analysis
Gross Profit Margin %	21.63	21.24	24.25	25	22.96
EBITDA Margin %	13.88	12.52	16.39	16.91	14.46
EBITA Margin %	11.2	9.82	13.85	14.26	11.41
EBIT Margin %	10.69	9.33	13.36	13.74	10.76
Income From Continuing Operations Margin %	5.99	1.59	13.25	11.51	7.37
Net Income Margin %	5.99	1.59	13.25	11.51	7.37
Net Avail. For Common Margin %	5.99	1.59	13.25	11.51	7.37
Normalized Net Income Margin	7.07	6.47	8.77	9.06	6.66
Levered Free Cash Flow Margin	1.92	2.86	8.14	8.16	4.15
Unlevered Free Cash Flow Margin	2.48	3.37	8.59	8.6	4.69
Asset Turnover
Asset Turnover	1.37	1.41	1.48	1.43	1.28
Fixed Assets Turnover	2.47	2.46	2.69	2.66	2.28
Receivables Turnover (Average Receivables)	7.79	8.12	8.15	7.8	7.47
Inventory Turnover (Average Inventory)	124.61	117.87	110.23	93.71	76.83
Short Term Liquidity
Current Ratio	1.11	1.19	1.42	1.22	1.1
Quick Ratio	1.03	1.02	1.33	1.13	0.99
Operating Cash Flow to Current Liabilities	0.56	0.61	0.85	0.78	0.58
Days Sales Outstanding (Average Receivables)	46.84	45.09	44.78	46.81	48.84
Days Outstanding Inventory (Average Inventory)	2.93	3.11	3.31	3.89	4.75
Average Days Payable Outstanding	33.71	32.92	34.57	36.38	36.06
Cash Conversion Cycle (Average Days)	16.06	15.28	13.52	14.33	17.53
Long Term Solvency
Total Debt/Equity	858.39	4.15K	178.98	118.8	154.38
Total Debt / Total Capital	89.57	97.65	64.15	54.3	60.69
LT Debt/Equity	737.83	3.67K	159.98	103.84	130.95
Long-Term Debt / Total Capital	76.99	86.45	57.34	47.46	51.48
Total Liabilities / Total Assets	94.33	98.93	79.44	72.16	75.56