Stock Analysis on Net
Stock Analysis on Net

United Parcel Service Inc. (NYSE:UPS)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

United Parcel Service Inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating profit1 ÷ Revenue1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2014 = 100 × ÷
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Dec 31, 2012 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
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Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The operating profit margin exhibited considerable fluctuation between 2005 and 2025. Initial years demonstrated a relatively strong and stable performance, followed by a period of volatility and, ultimately, a return to more moderate levels. A detailed examination reveals distinct phases in the margin’s trajectory.

Initial Stability and Decline (2005-2009)
From 2005 to 2007, the operating profit margin remained in a range of 13.95% to 14.43%, indicating consistent profitability. A significant decline occurred in 2008, dropping to 10.45%, and continued into 2009, reaching a low of 8.39%. This period likely reflects the impact of broader economic conditions and potentially increased operating costs.
Recovery and Subsequent Volatility (2010-2015)
The operating profit margin experienced a recovery between 2010 and 2011, rising to 11.86% and 11.45% respectively. However, this was followed by a sharp decrease in 2012 to 2.48%, representing a substantial drop in profitability. The margin then rebounded strongly in 2013 to 12.69%, followed by a decrease to 8.53% in 2014, and a further increase to 13.14% in 2015. This period suggests sensitivity to external factors and potentially varying levels of cost control.
Moderate Performance and Recent Trends (2016-2025)
From 2016 to 2019, the operating profit margin fluctuated between 8.98% and 10.52%, indicating a period of moderate, relatively stable performance. A significant increase was observed in 2020 and 2021, reaching 13.17% and 13.05% respectively, potentially driven by increased demand related to global events. The margin then decreased to 10.05% in 2022 and further to 9.30% in 2023, before settling at 8.87% in 2025. This recent downward trend suggests potential pressures on profitability, possibly from rising costs or increased competition.

Overall, the operating profit margin demonstrates a cyclical pattern with periods of stability, sharp declines, and subsequent recoveries. The most recent trend indicates a softening of profitability, warranting further investigation into the underlying drivers.

Comparison to Competitors

United Parcel Service Inc., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
United Parcel Service Inc. FedEx Corp. Uber Technologies Inc. Union Pacific Corp. United Airlines Holdings Inc.
Dec 31, 2025
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Dec 31, 2005

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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).