United Parcel Service Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, United Parcel Service Inc. reported net income of $5.57B on revenue of $88.66B. Operating cash flow was $8.45B and capital expenditures were $3.69B, leaving $4.76B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60.91B | $65.87B | $71.86B | $74.09B | $84.63B | $97.29B | $100.34B | $90.96B | $91.07B | $88.66B |
| Operating income | $7.69B | $7.53B | $7.02B | $7.80B | $7.68B | $12.81B | $13.09B | $9.14B | $8.47B | $7.87B |
| Net income | $3.42B | $4.91B | $4.79B | $4.44B | $1.34B | $12.89B | $11.55B | $6.71B | $5.78B | $5.57B |
| Diluted EPS | $3.86 | $5.61 | $5.51 | $5.11 | $1.54 | $14.68 | $13.20 | $7.80 | $6.75 | $6.56 |
| Operating cash flow | $6.47B | $1.48B | $12.71B | $8.64B | $10.46B | $15.01B | $14.10B | $10.24B | $10.12B | $8.45B |
| Capital expenditures | $2.96B | $5.23B | $6.28B | $6.38B | $5.41B | $4.19B | $4.77B | $5.16B | $3.91B | $3.69B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 8.9% | 6.3% |
| Dec 2024 | — | 9.3% | 6.3% |
| Dec 2023 | — | 10.0% | 7.4% |
| Dec 2022 | — | 13.0% | 11.5% |
| Dec 2021 | — | 13.2% | 13.2% |
Source: SEC EDGAR XBRL company facts for CIK 1090727 (raw data). Most recent filing in this dataset: 10-Q filed Aug 5, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.