Price to Book Value (P/BV)
since 2005
Calculation
United Parcel Service Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Equity for controlling interests1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 18, 2025 | 5.90 | = | 115.42 | ÷ | 19.57 | 19.57 | = | 16,718 | ÷ | 854,171,950 | |
| Feb 20, 2024 | 7.32 | = | 148.64 | ÷ | 20.30 | 20.30 | = | 17,306 | ÷ | 852,653,061 | |
| Feb 21, 2023 | 7.75 | = | 178.46 | ÷ | 23.04 | 23.04 | = | 19,786 | ÷ | 858,740,988 | |
| Feb 22, 2022 | 12.76 | = | 208.97 | ÷ | 16.38 | 16.38 | = | 14,253 | ÷ | 870,391,403 | |
| Feb 22, 2021 | 213.26 | = | 161.60 | ÷ | 0.76 | 0.76 | = | 657 | ÷ | 867,038,529 | |
| Feb 20, 2020 | 27.98 | = | 106.48 | ÷ | 3.81 | 3.81 | = | 3,267 | ÷ | 858,487,676 | |
| Feb 21, 2019 | 31.82 | = | 111.76 | ÷ | 3.51 | 3.51 | = | 3,021 | ÷ | 860,228,976 | |
| Feb 21, 2018 | 90.21 | = | 104.70 | ÷ | 1.16 | 1.16 | = | 1,000 | ÷ | 861,614,779 | |
| Feb 21, 2017 | 231.41 | = | 107.72 | ÷ | 0.47 | 0.47 | = | 405 | ÷ | 870,029,643 | |
| Feb 25, 2016 | 34.99 | = | 97.72 | ÷ | 2.79 | 2.79 | = | 2,470 | ÷ | 884,391,616 | |
| Feb 27, 2015 | 42.88 | = | 101.73 | ÷ | 2.37 | 2.37 | = | 2,141 | ÷ | 902,538,724 | |
| Feb 28, 2014 | 13.65 | = | 95.77 | ÷ | 7.01 | 7.01 | = | 6,474 | ÷ | 922,908,378 | |
| Feb 28, 2013 | 16.94 | = | 82.65 | ÷ | 4.88 | 4.88 | = | 4,653 | ÷ | 953,449,942 | |
| Feb 27, 2012 | 10.46 | = | 76.77 | ÷ | 7.34 | 7.34 | = | 7,035 | ÷ | 958,720,394 | |
| Feb 28, 2011 | 9.13 | = | 73.80 | ÷ | 8.08 | 8.08 | = | 7,979 | ÷ | 987,118,374 | |
| Feb 26, 2010 | 7.64 | = | 58.74 | ÷ | 7.68 | 7.68 | = | 7,630 | ÷ | 992,852,360 | |
| Feb 27, 2009 | 6.05 | = | 41.18 | ÷ | 6.81 | 6.81 | = | 6,780 | ÷ | 995,438,686 | |
| Feb 29, 2008 | 5.96 | = | 70.24 | ÷ | 11.78 | 11.78 | = | 12,183 | ÷ | 1,034,363,321 | |
| Mar 1, 2007 | 4.83 | = | 70.12 | ÷ | 14.52 | 14.52 | = | 15,482 | ÷ | 1,066,456,567 | |
| Mar 14, 2006 | 5.05 | = | 78.10 | ÷ | 15.46 | 15.46 | = | 16,884 | ÷ | 1,092,122,669 |
Based on: 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of United Parcel Service Inc. Annual Report.
- Share Price
- The share price demonstrated considerable volatility over the observed period. Initially, it declined from $78.10 in 2006 to a low of $41.18 in 2009. Thereafter, a general upward trend was evident, with some fluctuations, reaching a peak of $208.97 in 2022. Following this peak, the price declined steadily to $115.42 by 2025. This pattern suggests significant market-driven fluctuations, possibly influenced by external economic conditions and company-specific developments.
- Book Value per Share (BVPS)
- Book value per share exhibited a mostly declining pattern from $15.46 in 2006 to a trough of $0.47 in 2017. After this low point, BVPS recovered sharply to $23.04 in 2022 before experiencing a slight decrease to $19.57 by 2025. The initial decline coupled with the later recovery indicates periods of varying asset valuation or changes in retained earnings.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio showed substantial volatility, starting at 5.05 in 2006, rising steadily to extreme highs such as 231.41 in 2017 and 213.26 in 2021. After these peaks, the ratio declined notably to 5.90 in 2025. The elevated P/BV ratios in specific years indicate the market was valuing the shares significantly higher than the underlying book value, suggesting strong investor confidence or possible overvaluation during those times. The subsequent reduction aligns with the correction in share price and recovery of book value.
- Overall Insights
- The financial data reveals periods of significant market valuation disparity relative to book value, with the P/BV ratio signaling phases of potential overvaluation or optimism. The share price and book value per share moved independently at times, reflecting complex interactions between market perception and fundamental asset changes. These trends highlight the importance of evaluating both market pricing and company fundamentals when assessing the financial standing and investor sentiment.
Comparison to Competitors
United Parcel Service Inc., P/BV, long-term trends, comparison to competitors
| United Parcel Service Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | |
|---|---|---|---|---|---|
| Feb 18, 2025 | 5.90 | 2.70 | 7.70 | 8.66 | 2.38 |
| Feb 20, 2024 | 7.32 | 2.45 | 15.02 | 10.29 | 1.60 |
| Feb 21, 2023 | 7.75 | 2.27 | 9.36 | 10.34 | 2.32 |
| Feb 22, 2022 | 12.76 | 3.26 | 4.71 | 10.90 | 3.06 |
| Feb 22, 2021 | 213.26 | 2.35 | 8.24 | 8.07 | 2.85 |
| Feb 20, 2020 | 27.98 | 2.49 | 3.99 | 7.00 | 1.52 |
| Feb 21, 2019 | 31.82 | 3.15 | — | 5.72 | 2.34 |
| Feb 21, 2018 | 90.21 | 3.60 | — | 3.99 | 2.16 |
| Feb 21, 2017 | 231.41 | 3.10 | — | 4.43 | 2.71 |
| Feb 25, 2016 | 34.99 | 3.23 | — | 3.07 | 2.08 |
| Feb 27, 2015 | 42.88 | 2.82 | — | 5.07 | 10.91 |
| Feb 28, 2014 | 13.65 | 1.89 | — | 3.79 | 5.69 |
| Feb 28, 2013 | 16.94 | 1.98 | — | 3.14 | 18.18 |
| Feb 27, 2012 | 10.46 | 1.96 | — | 3.00 | 3.85 |
| Feb 28, 2011 | 9.13 | 1.76 | — | 2.61 | 4.65 |
| Feb 26, 2010 | 7.64 | 1.31 | — | 1.85 | — |
| Feb 27, 2009 | 6.05 | 1.65 | — | 1.61 | — |
| Feb 29, 2008 | 5.96 | 2.86 | — | 2.11 | 1.49 |
| Mar 1, 2007 | 4.83 | 2.90 | — | 1.84 | 2.02 |
| Mar 14, 2006 | 5.05 | 2.63 | — | 1.73 | — |
Based on: 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).
Comparison to Sector (Transportation)
United Parcel Service Inc., P/BV, long-term trends, comparison to sector (transportation)
| United Parcel Service Inc. | Transportation | |
|---|---|---|
| Feb 18, 2025 | 5.90 | 5.40 |
| Feb 20, 2024 | 7.32 | 6.69 |
| Feb 21, 2023 | 7.75 | 5.91 |
| Feb 22, 2022 | 12.76 | 6.92 |
| Feb 22, 2021 | 213.26 | 8.09 |
| Feb 20, 2020 | 27.98 | 5.19 |
| Feb 21, 2019 | 31.82 | 5.63 |
| Feb 21, 2018 | 90.21 | 5.25 |
| Feb 21, 2017 | 231.41 | 5.80 |
| Feb 25, 2016 | 34.99 | 4.60 |
| Feb 27, 2015 | 42.88 | 6.55 |
| Feb 28, 2014 | 13.65 | 4.55 |
| Feb 28, 2013 | 16.94 | 4.51 |
| Feb 27, 2012 | 10.46 | 3.90 |
| Feb 28, 2011 | 9.13 | 3.67 |
| Feb 26, 2010 | 7.64 | 3.12 |
| Feb 27, 2009 | 6.05 | 2.64 |
| Feb 29, 2008 | 5.96 | 3.39 |
| Mar 1, 2007 | 4.83 | 3.16 |
| Mar 14, 2006 | 5.05 | 9.45 |
Based on: 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).
Comparison to Industry (Industrials)
United Parcel Service Inc., P/BV, long-term trends, comparison to industry (industrials)
| United Parcel Service Inc. | Industrials | |
|---|---|---|
| Feb 18, 2025 | 5.90 | 6.68 |
| Feb 20, 2024 | 7.32 | 6.85 |
| Feb 21, 2023 | 7.75 | 5.50 |
| Feb 22, 2022 | 12.76 | 5.44 |
| Feb 22, 2021 | 213.26 | 5.89 |
| Feb 20, 2020 | 27.98 | 6.28 |
| Feb 21, 2019 | 31.82 | 5.96 |
| Feb 21, 2018 | 90.21 | 5.37 |
| Feb 21, 2017 | 231.41 | 4.89 |
| Feb 25, 2016 | 34.99 | 3.68 |
| Feb 27, 2015 | 42.88 | 3.70 |
| Feb 28, 2014 | 13.65 | 3.14 |
| Feb 28, 2013 | 16.94 | 3.06 |
| Feb 27, 2012 | 10.46 | 3.09 |
| Feb 28, 2011 | 9.13 | 3.05 |
| Feb 26, 2010 | 7.64 | 2.43 |
| Feb 27, 2009 | 6.05 | 2.01 |
| Feb 29, 2008 | 5.96 | 3.45 |
| Mar 1, 2007 | 4.83 | 3.75 |
| Mar 14, 2006 | 5.05 | 3.95 |
Based on: 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).