Financial Statements — UPS
Balance Sheet
(in billions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 5.80 | 6.76 | 6.19 | 4.80 | 5.86 | 6.32 | 4.28 | 4.31 | 4.81 | 6.19 | 11.05 | 11.74 | 12.21 | 10.21 | 9.61 | 7.73 |
| Short-term Investments | -- | 0.07 | 0.09 | 0.26 | 0.21 | 0.21 | 0.23 | 2.97 | 3.07 | 3.21 | 0.33 | 0.34 | 0.34 | 0.35 | 0.35 | 0.35 |
| Accounts Receivable | 9.95 | 9.97 | 10.43 | 9.89 | 9.20 | 9.05 | 9.55 | 9.46 | 9.59 | 10.30 | 10.98 | 11.40 | 11.20 | 10.47 | 10.14 | 10.13 |
| Total Current Assets | 17.79 | 18.99 | 18.85 | 17.09 | 17.26 | 18.82 | 16.18 | 19.25 | 19.44 | 21.73 | 24.60 | 25.57 | 25.60 | 22.84 | 21.99 | 20.99 |
| Property, Plant & Equipment | 38.03 | 37.74 | 37.71 | 37.25 | 37.39 | 37.13 | 37.17 | 36.01 | 35.50 | 34.99 | 33.63 | 33.49 | 33.60 | 32.86 | 32.63 | 32.46 |
| Goodwill | 5.80 | 4.81 | 4.81 | 4.69 | 4.41 | 4.35 | 4.85 | 4.10 | 4.25 | 4.25 | 3.62 | 3.68 | 3.67 | 3.33 | 3.36 | 3.35 |
| Intangible Assets | 3.98 | 3.45 | 3.35 | 3.30 | 3.10 | 3.10 | 3.22 | 2.69 | 2.69 | 2.61 | 2.24 | 2.27 | 2.26 | 2.22 | 2.24 | 2.27 |
| Total Non-current Assets* | 54.02 | 52.41 | 52.07 | 51.38 | 51.00 | 50.60 | 51.45 | 51.03 | 50.91 | 50.46 | 44.95 | 44.52 | 44.51 | 42.90 | 42.88 | 42.33 |
| Total Assets | 71.81 | 71.39 | 70.92 | 68.47 | 68.26 | 69.42 | 67.63 | 70.28 | 70.35 | 72.19 | 69.54 | 70.09 | 70.11 | 65.74 | 64.87 | 63.31 |
| Accounts Payable | 5.91 | 5.78 | 6.04 | 5.45 | 5.41 | 5.30 | 5.40 | 5.97 | 6.09 | 6.30 | 6.73 | 7.17 | 7.04 | 6.45 | 6.56 | 6.31 |
| Short-term Debt | 0.64 | 0.93 | 0.92 | 1.86 | 1.61 | 2.01 | 1.16 | 2.24 | -- | -- | -- | -- | -- | 1.27 | 1.56 | 1.81 |
| Total Current Liabilities | 14.67 | 14.55 | 14.24 | 15.66 | 15.08 | 15.09 | 14.70 | 15.82 | 14.69 | 16.26 | 17.68 | 17.34 | 16.84 | 15.47 | 15.77 | 16.31 |
| Long-term Debt | 23.75 | 23.85 | 23.82 | 19.51 | 20.32 | 20.20 | 18.85 | 18.88 | 20.76 | 22.19 | 20.35 | 20.58 | 21.88 | 22.11 | 22.59 | 23.73 |
| Total Non-current Liabilities* | 41.37 | 41.02 | 40.93 | 37.15 | 36.33 | 37.30 | 36.02 | 35.30 | 35.64 | 35.89 | 34.90 | 36.46 | 37.85 | 38.23 | 38.29 | 39.86 |
| Total Liabilities* | 56.05 | 55.57 | 55.17 | 52.81 | 51.41 | 52.39 | 50.72 | 51.11 | 50.33 | 52.15 | 52.58 | 53.80 | 54.70 | 53.70 | 54.06 | 56.17 |
| Retained Earnings | 19.62 | 19.75 | 19.83 | 19.94 | 20.55 | 20.69 | 20.68 | 20.70 | 21.58 | 21.51 | 20.18 | 18.96 | 17.43 | 13.97 | 12.53 | 10.75 |
| Total Stockholder Equity | 15.76 | 15.82 | 15.75 | 15.66 | 16.86 | 17.03 | 16.91 | 19.17 | 20.02 | 20.04 | 16.97 | 16.29 | 15.42 | 12.04 | 10.81 | 7.15 |
* Derived from reported values
Income Statement
(in billions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 21.20 | 24.48 | 21.42 | 21.22 | 21.55 | 25.30 | 22.25 | 21.82 | 21.71 | 24.92 | 21.06 | 22.06 | 22.93 | 27.03 | 24.16 | 24.77 | 24.38 | 27.77 | 23.18 | 23.42 |
| Operating Income | 1.27 | 2.58 | 1.80 | 1.82 | 1.67 | 2.93 | 1.99 | 1.94 | 1.61 | 2.48 | 1.34 | 2.78 | 2.54 | 3.20 | 3.11 | 3.54 | 3.25 | 3.89 | 2.90 | 3.26 |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.20 | 0.21 | 0.20 | 0.19 | 0.19 | 0.18 | 0.18 | 0.17 | 0.17 | 0.17 | 0.18 | 0.17 |
| Pretax Income | 1.12 | 2.37 | 1.61 | 1.66 | 1.52 | 2.13 | 1.91 | 1.87 | 1.54 | 2.06 | 1.27 | 2.72 | 2.52 | 4.47 | 3.27 | 3.70 | 3.39 | 3.96 | 2.99 | 3.44 |
| Tax Provision | 0.26 | 0.58 | 0.30 | 0.38 | 0.34 | 0.41 | 0.37 | 0.46 | 0.42 | 0.46 | 0.14 | 0.64 | 0.63 | 1.01 | 0.69 | 0.85 | 0.73 | 0.87 | 0.66 | 0.76 |
| Net Income | 0.86 | 1.79 | 1.31 | 1.28 | 1.19 | 1.72 | 1.54 | 1.41 | 1.11 | 1.61 | 1.13 | 2.08 | 1.90 | 3.45 | 2.58 | 2.85 | 2.66 | 3.09 | 2.33 | 2.68 |
| Basic EPS | 1.02 | 2.10 | 1.55 | 1.51 | 1.40 | 2.01 | 1.80 | 1.65 | 1.30 | 1.88 | 1.31 | 2.42 | 2.20 | 3.98 | 2.97 | 3.26 | 3.05 | 3.53 | 2.66 | 3.06 |
| Diluted EPS | 1.02 | 2.10 | 1.55 | 1.51 | 1.40 | 2.00 | 1.80 | 1.65 | 1.30 | 1.88 | 1.31 | 2.42 | 2.19 | 3.96 | 2.96 | 3.25 | 3.03 | 3.51 | 2.65 | 3.05 |
Cash Flow Statement
(in billions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | 2.22 | 3.30 | 2.48 | 0.35 | 2.32 | 3.32 | 1.50 | 1.99 | 3.32 | 2.41 | 2.23 | 3.24 | 2.36 | 3.33 | 2.48 | 3.81 | 4.48 | 3.25 | 3.31 | 3.92 |
| Capital Expenditures | 1.03 | 0.72 | 0.97 | 1.12 | 0.88 | 1.10 | 0.84 | 0.93 | 1.03 | 2.05 | 1.29 | 1.21 | 0.61 | 2.49 | 0.89 | 0.84 | 0.55 | 1.62 | 0.90 | 0.84 |
| Free Cash Flow* | 1.19 | 2.59 | 1.51 | (0.77) | 1.44 | 2.22 | 0.66 | 1.06 | 2.28 | 0.36 | 0.94 | 2.03 | 1.75 | 0.84 | 1.59 | 2.97 | 3.93 | 1.62 | 2.41 | 3.09 |
| Investing Cash Flow | (0.94) | (2.00) | (0.46) | (0.92) | (1.35) | (1.06) | 0.19 | (0.91) | 1.57 | (3.20) | (1.07) | (1.05) | (1.81) | (5.06) | (0.91) | (0.93) | (0.57) | (2.22) | (0.87) | 0.03 |
| Financing Cash Flow | (1.33) | (2.19) | (1.43) | 1.79 | (2.31) | (1.85) | (2.24) | 0.90 | (3.67) | (0.35) | (1.60) | (3.59) | 0.00 | (3.71) | (2.19) | (3.32) | (1.97) | (0.97) | (1.82) | (2.09) |
* Derived from reported values
Dividends Per Share
(USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 | Q3
2020 |
|---|
| Dividends Per Share | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 | 1.63 | 1.63 | 1.63 | 1.63 | 1.62 | 1.62 | 1.62 | 1.62 | 1.52 | 1.52 | 1.52 | 1.02 | 1.02 | 1.02 | 1.01 |
