Stock Analysis on Net

United Parcel Service Inc. (NYSE:UPS)

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Analysis of Inventory

Microsoft Excel

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Inventory Disclosure

United Parcel Service Inc., balance sheet: inventory

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Inventories

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).


The reported inventories exhibited a fluctuating pattern over the five-year period. An initial increase was followed by a subsequent decline.

Overall Trend
Inventories increased from US$717 million in 2021 to US$889 million in 2022, representing a growth of approximately 24.1%. This was followed by a further increase to US$935 million in 2023, a rise of 5.1%. However, a downward trend commenced in 2024, with inventories decreasing to US$826 million. This decline continued into 2025, reaching US$739 million, representing a decrease of approximately 10.4% from the 2024 level.
Peak and Trough
The highest reported inventory value was US$935 million at the end of 2023. The lowest reported inventory value was US$717 million at the end of 2021.
Rate of Change
The largest percentage increase occurred between 2021 and 2022. The most significant percentage decrease occurred between 2024 and 2025. The rate of increase slowed between 2022 and 2023, while the rate of decrease accelerated between 2023 and 2025.
Recent Performance
The most recent two years demonstrate a clear contraction in inventory levels. The decrease from US$826 million in 2024 to US$739 million in 2025 suggests a potential shift in inventory management strategy or a response to changing demand conditions.