United Parcel Service
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
8.887.996.545.29
Price/Sales ratio
0.770.740.670.62
Earnings per Share (EPS)
$9.86$10.95$13.39$16.54

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
33.5817.8929.5021.1317.6222.77108.7114.5313.1120.1318.9817.62
Price/Sales ratio
1.741.481.661.571.171.361.721.921.501.481.181.17
Price/Book Value ratio
47.5635.10235.96100.7527.8130.80197.0313.147.657.806.3830.80
Price/Cash Flow ratio
17.7811.6615.6370.166.6411.7013.9512.4810.7313.1911.666.64
Price/Free Cash Flow ratio
29.9617.1628.85-27.6813.1344.7728.9217.3216.2226.5824.6913.13
Price/Earnings Growth ratio
-1.160.28-1.060.46-9.03-3.22-1.600.01-1.29-0.487.30-9.03
Dividend Yield
2.32%2.91%2.61%2.67%3.56%3.15%2.31%1.83%3.37%3.97%5.17%3.56%
Profitability Indicator Ratios
Gross Profit Margin
44.97%46.83%8.97%11.42%9.77%10.52%9.23%13.16%13.04%18.94%17.52%9.77%
Operating Profit Margin
8.53%13.13%8.97%11.42%9.77%5.15%3.11%17.74%13.04%10.04%8.93%5.15%
Pretax Profit Margin
7.96%12.57%8.43%10.85%8.37%7.62%2.33%17.05%14.77%9.42%8.14%7.62%
Net Profit Margin
5.20%8.29%5.63%7.45%6.66%5.99%1.58%13.24%11.50%7.37%6.25%5.99%
Effective Tax Rate
34.61%34.02%33.19%31.30%20.40%21.44%27.71%22.32%22.10%21.75%23.20%20.40%
Return on Assets
8.54%12.64%8.49%10.81%9.66%7.67%2.14%18.57%16.23%9.46%8.30%7.67%
Return On Equity
141.61%196.11%799.76%476.69%157.75%135.24%181.24%90.43%58.36%38.76%33.27%135.24%
Return on Capital Employed
18.51%27.76%19.15%23.02%19.78%8.99%5.80%33.31%24.71%17.18%15.22%8.99%
Liquidity Ratios
Current Ratio
1.361.231.181.221.151.101.18N/AN/AN/A1.141.10
Quick Ratio
1.321.201.101.191.081.071.151.371.171.041.141.08
Cash ratio
0.260.250.290.260.290.330.340.580.300.180.380.29
Days of Sales Outstanding
41.7544.6146.1157.3250.2748.9347.5648.1946.8945.9537.0448.93
Days of Inventory outstanding
3.913.622.252.522.372.812.943.093.714.62N/A2.81
Operating Cycle
45.6648.2348.3659.8552.6451.7450.5151.2850.6150.5837.0451.74
Days of Payables Outstanding
31.3630.4320.0224.6129.2030.5830.6732.5031.4231.3826.4230.58
Cash Conversion Cycle
14.3017.8028.3335.2423.4321.1619.8418.7819.1819.2010.6121.16
Debt Ratios
Debt Ratio
0.290.370.390.530.450.440.390.320.280.310.330.44
Debt Equity Ratio
4.825.8037.4723.587.357.7533.641.551.011.301.347.75
Long-term Debt to Capitalization
0.810.820.960.950.860.860.960.570.460.510.540.86
Total Debt to Capitalization
0.820.850.970.950.880.880.970.600.500.560.570.88
Interest Coverage Ratio
14.0722.4814.3416.6211.6011.942.63N/AN/AN/A9.5911.94
Cash Flow to Debt Ratio
0.550.510.400.060.560.330.410.670.700.450.400.33
Company Equity Multiplier
16.5615.5194.1744.0816.3217.6284.334.863.594.094.0417.62
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.090.120.100.020.170.110.120.150.140.110.100.11
Free Cash Flow / Operating Cash Flow Ratio
0.590.670.54-2.530.500.260.480.720.660.490.470.26
Cash Flow Coverage Ratio
0.550.510.400.060.560.330.410.670.700.450.400.33
Short Term Coverage Ratio
6.202.461.750.364.532.183.285.534.762.523.992.18
Dividend Payout Ratio
78.03%52.12%77.03%56.43%62.84%71.93%251.22%26.66%44.28%80.08%95.07%62.84%