Stock Analysis on Net

United Parcel Service Inc. (NYSE:UPS)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

United Parcel Service Inc., P/S, long-term trends, calculation

Microsoft Excel

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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of United Parcel Service Inc. Annual Report.


The price-to-sales (P/S) ratio for the period examined exhibits fluctuations, generally remaining within a range of 0.80 to 2.00. An initial decline is observed from 2006 to 2009, followed by a period of relative stability and then an increase before leveling off again in recent years.

Initial Decline (2006-2009)
The P/S ratio decreased from 2.00 in 2006 to a low of 0.80 in 2009. This decline coincided with a period where share price decreased significantly, while sales per share increased steadily. This suggests that the market was valuing each dollar of sales at a decreasing rate during this time, potentially reflecting broader economic conditions or company-specific concerns.
Recovery and Stabilization (2010-2014)
From 2009 to 2014, the P/S ratio experienced a recovery, rising to 1.59 in 2014. This increase was driven by a combination of share price appreciation and continued growth in sales per share. The ratio remained relatively stable between 1.29 and 1.59 during this period, indicating a more consistent valuation by the market.
Recent Fluctuations (2015-2026)
Following 2014, the P/S ratio demonstrated more volatility. It decreased to 1.34 in 2019, increased to 1.87 in 2021, and then decreased again to 1.11 in 2026. This period saw significant fluctuations in both share price and sales per share, contributing to the observed changes in the P/S ratio. The increase in 2021 may reflect increased investor confidence, while the subsequent decline could be attributed to various factors including market corrections or changing investor sentiment.
Long-Term Trend
Over the entire period, the P/S ratio has not exhibited a strong, consistent trend. While there was a notable decline in the early years, the ratio has largely fluctuated around the 1.4 to 1.6 level for much of the time. The most recent values suggest a potential downward trend, but further observation is needed to confirm this.

The relationship between share price and sales per share is evident in the P/S ratio’s movements. Periods of increasing sales per share coupled with share price increases generally lead to a higher P/S ratio, while the opposite is true when either component declines.


Comparison to Competitors

United Parcel Service Inc., P/S, long-term trends, comparison to competitors

Microsoft Excel

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).


Comparison to Sector (Transportation)


Comparison to Industry (Industrials)