Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

United Parcel Service

UPS stock analysis · Industrials · Air Freight & Logistics

FY 2025-12-31ANNUAL FILINGSMULTIPLE SHARE CLASSES
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained. Issuer-level values span share classes. Reviewed equivalent shares are used when available; the price panel explains the capital basis.
Reference share price · USD
$107.50HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$91.5B

Reviewed economically equivalent common shares; unlisted/other class priced at the displayed class price (proxy). Shares measured 2026-06-30. Approximate; share and price dates can differ. Aggregate only: A102m+B749m issued less0.1m treasury=850.9m common outstanding, with whole-million precision in issued counts. Treasury class not inferred. EPS note explicitly gives both classes equal per-share dividends and liquidation distributions. Unlisted A valued at listed B price as proxy. No preferred issued atJun30 per equity note.

View share-count filing ↗
Valuation

DCF value

$85.06

Equity cash-flow scenario · Reviewed issuer-equivalent shares at 2026-06-30 · -20.9% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

10.7%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

93.0%

76 sector peers · median 31.7×

How this is calculated ↗
Valuation

Historical multiples

Requires three annual historical market caps and eligible filed earnings.

Requires three annual historical market caps and eligible filed earnings.

How this is calculated ↗
Valuation

Free cash flow yield

5.2%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

18.9%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

75/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

4.3%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

6.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-4.0%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

-1.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 15B2020-12-31: cfo $10,459,000,000.002020-12-31: capex $5,412,000,000.0020202021-12-31: cfo $15,007,000,000.002021-12-31: capex $4,194,000,000.0020212022-12-31: cfo $14,104,000,000.002022-12-31: capex $4,769,000,000.0020222023-12-31: cfo $10,238,000,000.002023-12-31: capex $5,158,000,000.0020232024-12-31: cfo $10,122,000,000.002024-12-31: capex $3,909,000,000.0020242025-12-31: cfo $8,450,000,000.002025-12-31: capex $3,685,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$106.68$116.40$126.85
10.0%$78.18$85.06$92.44
12.0%$61.68$66.92$72.55

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3188.7B5.6B8.5B3.7B73.1B
2024-12-3191.1B5.8B10.1B3.9B70.1B
2023-12-3191B6.7B10.2B5.2B70.9B
2022-12-31100.3B11.5B14.1B4.8B71.1B
2021-12-3197.3B12.9B15B4.2B69.4B
2020-12-3184.6B1.3B10.5B5.4B62.4B
2019-12-3174.1B4.4B8.6B6.4B57.9B
2018-12-3171.9B4.8B12.7B6.3B50B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue88.7BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-17
netIncome5.6BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-17
Parent/common earnings proxy5.6BNetIncomeLoss2026-02-17
cfo8.5BNetCashProvidedByUsedInOperatingActivities2026-02-17
capex3.7BPaymentsToAcquirePropertyPlantAndEquipment2026-02-17
operatingIncome7.9BOperatingIncomeLoss2026-02-17
assets73.1BAssets2026-02-17
equity16.3BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-17
Parent book equity proxy16.2BStockholdersEquity2026-02-17
debt23.6BLongTermDebt2026-02-17
shortDebtNot reported under a supported tag
cash5.9BCashAndCashEquivalentsAtCarryingValue2026-02-17
shares850MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-17
dividends5.4BPaymentsOfDividends2026-02-17
buybacks1BPaymentsForRepurchaseOfCommonStock2026-02-17
issuance159MProceedsFromIssuanceOfCommonStock2026-02-17