United Parcel Service, Inc. (UPS)
NYSE: UPS · Real-Time Price · USD
112.40
+2.02 (1.83%)
At close: Nov 13, 2026, 4:00 PM EST
112.04
-0.36 (-0.32%)
After-hours: Nov 13, 2026, 7:58 PM EST
UPS Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 4,422 | 5,572 | 5,782 | 6,708 | 11,548 | 12,890 |
Depreciation & Amortization | 3,844 | 3,688 | 3,609 | 3,366 | 3,188 | 2,953 |
Loss (Gain) From Sale of Assets | 414 | 113 | 262 | 265 | 123 | 137 |
Asset Writedown & Restructuring Costs | 58 | 58 | - | - | - | - |
Stock-Based Compensation | 127 | 73 | 24 | 220 | 1,568 | 878 |
Other Operating Activities | 640 | -57 | 189 | 51 | -1,954 | -1,187 |
Change in Accounts Receivable | -801 | -382 | -566 | 1,256 | -322 | -2,147 |
Change in Accounts Payable | 490 | -190 | 262 | -1,377 | 34 | 1,265 |
Change in Other Net Operating Assets | 94 | -425 | 560 | -251 | -81 | 218 |
Operating Cash Flow | 9,288 | 8,450 | 10,122 | 10,238 | 14,104 | 15,007 |
Operating Cash Flow Growth | 9.75% | -16.52% | -1.13% | -27.41% | -6.02% | 43.48% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -2,937 | -3,685 | -3,909 | -5,158 | -4,769 | -4,194 |
Sale of Property, Plant & Equipment | 588 | 700 | 1,115 | 193 | - | 872 |
Cash Acquisitions | -1,500 | -1,968 | -71 | -1,329 | -755 | -602 |
Divestitures | - | - | - | - | 12 | - |
Investment in Securities | 64 | 203 | 2,672 | -820 | -1,651 | 54 |
Other Investing Activities | 7 | 15 | -24 | -19 | -309 | 52 |
Investing Cash Flow | -3,778 | -4,735 | -217 | -7,133 | -7,472 | -3,818 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | 1,272 | - | - |
Long-Term Debt Issued | - | 4,153 | 2,785 | 3,429 | - | - |
Total Debt Issued | 870 | 4,153 | 2,785 | 4,701 | - | - |
Short-Term Debt Repaid | - | - | -1,272 | - | - | - |
Long-Term Debt Repaid | - | -2,069 | -2,487 | -2,429 | -2,304 | -2,773 |
Total Debt Repaid | -1,057 | -2,069 | -3,759 | -2,429 | -2,304 | -2,773 |
Net Debt Issued (Repaid) | -187 | 2,084 | -974 | 2,272 | -2,304 | -2,773 |
Issuance of Common Stock | 112 | 159 | 232 | 248 | 262 | 251 |
Repurchase of Common Stock | - | -1,000 | -500 | -2,250 | -3,500 | -500 |
Common Dividends Paid | -5,417 | -5,398 | -5,399 | -5,372 | -5,114 | -3,437 |
Other Financing Activities | 92 | 14 | -209 | -432 | -529 | -364 |
Financing Cash Flow | -5,400 | -4,141 | -6,850 | -5,534 | -11,185 | -6,823 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -37 | 201 | -149 | 33 | -100 | -21 |
Net Cash Flow | 73 | -225 | 2,906 | -2,396 | -4,653 | 4,345 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 6,351 | 4,765 | 6,213 | 5,080 | 9,335 | 10,813 |
Free Cash Flow Growth | 44.47% | -23.31% | 22.30% | -45.58% | -13.67% | 114.25% |
Free Cash Flow Margin | 6.95% | 5.37% | 6.82% | 5.58% | 9.30% | 11.12% |
Free Cash Flow Per Share | 7.46 | 5.61 | 7.26 | 5.91 | 10.67 | 12.31 |
Levered Free Cash Flow | 6,260 | 5,223 | 4,587 | 3,623 | 8,521 | 7,840 |
Unlevered Free Cash Flow | 6,943 | 5,859 | 5,125 | 4,115 | 8,961 | 8,274 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 990 | 990 | 854 | 762 | 721 | 697 |
Cash Income Tax Paid | 1,912 | 1,912 | 1,347 | 1,976 | 2,574 | 1,869 |
Change in Working Capital | -217 | -997 | 256 | -372 | -369 | -664 |