Total Asset Turnover
since 2005
Calculation
United Parcel Service Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1.21 | = | 88,661) | ÷ | 73,090) |
| Dec 31, 2024 | 1.30 | = | 91,070) | ÷ | 70,070) |
| Dec 31, 2023 | 1.28 | = | 90,958) | ÷ | 70,857) |
| Dec 31, 2022 | 1.41 | = | 100,338) | ÷ | 71,124) |
| Dec 31, 2021 | 1.40 | = | 97,287) | ÷ | 69,405) |
| Dec 31, 2020 | 1.36 | = | 84,628) | ÷ | 62,408) |
| Dec 31, 2019 | 1.28 | = | 74,094) | ÷ | 57,857) |
| Dec 31, 2018 | 1.44 | = | 71,861) | ÷ | 50,016) |
| Dec 31, 2017 | 1.45 | = | 65,872) | ÷ | 45,403) |
| Dec 31, 2016 | 1.51 | = | 60,906) | ÷ | 40,377) |
| Dec 31, 2015 | 1.52 | = | 58,363) | ÷ | 38,311) |
| Dec 31, 2014 | 1.64 | = | 58,232) | ÷ | 35,471) |
| Dec 31, 2013 | 1.53 | = | 55,438) | ÷ | 36,212) |
| Dec 31, 2012 | 1.39 | = | 54,127) | ÷ | 38,863) |
| Dec 31, 2011 | 1.53 | = | 53,105) | ÷ | 34,701) |
| Dec 31, 2010 | 1.47 | = | 49,545) | ÷ | 33,597) |
| Dec 31, 2009 | 1.42 | = | 45,297) | ÷ | 31,883) |
| Dec 31, 2008 | 1.62 | = | 51,486) | ÷ | 31,879) |
| Dec 31, 2007 | 1.27 | = | 49,692) | ÷ | 39,042) |
| Dec 31, 2006 | 1.43 | = | 47,547) | ÷ | 33,210) |
| Dec 31, 2005 | 1.21 | = | 42,581) | ÷ | 35,222) |
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 total asset turnover ratio for the period examined demonstrates fluctuations, generally remaining within a range of 1.21 to 1.64. An initial increase is observed between 2005 and 2006, followed by a period of relative stability and then a peak in 2008. Subsequent years show a more varied pattern, with a general trend towards lower values in the later part of the analyzed timeframe.
- Initial Growth (2005-2008)
- From 2005 to 2008, the ratio increased from 1.21 to 1.62. This suggests an improved efficiency in utilizing assets to generate revenue during this period. The largest single-year increase occurred between 2005 and 2006, rising from 1.21 to 1.43.
- Post-2008 Volatility (2009-2014)
- Following the peak in 2008, the ratio experienced volatility, fluctuating between 1.42 and 1.64. While remaining relatively high, the ratio did not consistently increase, indicating potential stabilization in asset utilization efficiency. A slight decline is noted between 2012 and 2013.
- Recent Trends (2015-2025)
- From 2015 onwards, a gradual downward trend is apparent. The ratio decreased from 1.52 in 2015 to 1.21 in 2025. This suggests a decreasing efficiency in asset utilization, potentially due to increased asset investment without a proportional increase in revenue, or a decrease in revenue relative to the asset base. The most significant decline occurred between 2022 and 2025, falling from 1.41 to 1.21.
- Long-Term Perspective
- Considering the entire period, the ratio has decreased overall. While fluctuations exist, the ratio in 2025 (1.21) is approximately the same as it was in 2005 (1.21). This indicates that despite revenue growth over the period, the company’s ability to generate revenue from its assets has not improved substantially.
The observed trends suggest a potential need for further investigation into the factors influencing asset utilization. A decline in the total asset turnover ratio could indicate inefficiencies in asset management or changes in the company’s business model.
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Comparison to Competitors
United Parcel Service Inc., total asset turnover, long-term trends, comparison to competitors
| United Parcel Service Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1.21 | 1.00 | 0.84 | 0.35 | 0.77 |
| Dec 31, 2024 | 1.30 | 1.01 | 0.86 | 0.36 | 0.77 |
| Dec 31, 2023 | 1.28 | 1.03 | 0.96 | 0.36 | 0.76 |
| Dec 31, 2022 | 1.41 | 1.09 | 0.99 | 0.38 | 0.67 |
| Dec 31, 2021 | 1.40 | 1.01 | 0.45 | 0.34 | 0.36 |
| Dec 31, 2020 | 1.36 | 0.94 | 0.33 | 0.31 | 0.26 |
| Dec 31, 2019 | 1.28 | 1.28 | 0.45 | 0.35 | 0.82 |
| Dec 31, 2018 | 1.44 | 1.25 | — | 0.39 | 0.92 |
| Dec 31, 2017 | 1.45 | 1.24 | — | 0.37 | 0.89 |
| Dec 31, 2016 | 1.51 | 1.09 | — | 0.36 | 0.91 |
| Dec 31, 2015 | 1.52 | 1.28 | — | 0.40 | 0.93 |
| Dec 31, 2014 | 1.64 | 1.38 | — | 0.46 | 1.04 |
| Dec 31, 2013 | 1.53 | 1.32 | — | 0.44 | 1.04 |
| Dec 31, 2012 | 1.39 | 1.43 | — | 0.44 | 0.99 |
| Dec 31, 2011 | 1.53 | 1.44 | — | 0.43 | 0.98 |
| Dec 31, 2010 | 1.47 | 1.39 | — | 0.39 | 0.59 |
| Dec 31, 2009 | 1.42 | 1.46 | — | 0.33 | 0.87 |
| Dec 31, 2008 | 1.62 | 1.48 | — | 0.45 | 1.04 |
| Dec 31, 2007 | 1.27 | 1.47 | — | 0.43 | 0.83 |
| Dec 31, 2006 | 1.43 | 1.42 | — | 0.43 | 0.76 |
| Dec 31, 2005 | 1.21 | 1.44 | — | 0.38 | 0.90 |
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)
United Parcel Service Inc., total asset turnover, long-term trends, comparison to sector (transportation)
| United Parcel Service Inc. | Transportation | |
|---|---|---|
| Dec 31, 2025 | 1.21 | 0.85 |
| Dec 31, 2024 | 1.30 | 0.87 |
| Dec 31, 2023 | 1.28 | 0.88 |
| Dec 31, 2022 | 1.41 | 0.92 |
| Dec 31, 2021 | 1.40 | 0.76 |
| Dec 31, 2020 | 1.36 | 0.69 |
| Dec 31, 2019 | 1.28 | 0.86 |
| Dec 31, 2018 | 1.44 | 0.98 |
| Dec 31, 2017 | 1.45 | 0.95 |
| Dec 31, 2016 | 1.51 | 0.92 |
| Dec 31, 2015 | 1.52 | 0.97 |
| Dec 31, 2014 | 1.64 | 1.05 |
| Dec 31, 2013 | 1.53 | 1.02 |
| Dec 31, 2012 | 1.39 | 1.01 |
| Dec 31, 2011 | 1.53 | 1.03 |
| Dec 31, 2010 | 1.47 | 0.88 |
| Dec 31, 2009 | 1.42 | 0.95 |
| Dec 31, 2008 | 1.62 | 1.09 |
| Dec 31, 2007 | 1.27 | 0.97 |
| Dec 31, 2006 | 1.43 | 0.97 |
| Dec 31, 2005 | 1.21 | 0.93 |
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 Industry (Industrials)
United Parcel Service Inc., total asset turnover, long-term trends, comparison to industry (industrials)
| United Parcel Service Inc. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 1.21 | 0.66 |
| Dec 31, 2024 | 1.30 | 0.65 |
| Dec 31, 2023 | 1.28 | 0.67 |
| Dec 31, 2022 | 1.41 | 0.66 |
| Dec 31, 2021 | 1.40 | 0.58 |
| Dec 31, 2020 | 1.36 | 0.50 |
| Dec 31, 2019 | 1.28 | 0.62 |
| Dec 31, 2018 | 1.44 | 0.67 |
| Dec 31, 2017 | 1.45 | 0.62 |
| Dec 31, 2016 | 1.51 | 0.61 |
| Dec 31, 2015 | 1.52 | 0.54 |
| Dec 31, 2014 | 1.64 | 0.49 |
| Dec 31, 2013 | 1.53 | 0.47 |
| Dec 31, 2012 | 1.39 | 0.46 |
| Dec 31, 2011 | 1.53 | 0.45 |
| Dec 31, 2010 | 1.47 | 0.41 |
| Dec 31, 2009 | 1.42 | 0.39 |
| Dec 31, 2008 | 1.62 | 0.43 |
| Dec 31, 2007 | 1.27 | 0.41 |
| Dec 31, 2006 | 1.43 | 0.43 |
| Dec 31, 2005 | 1.21 | 0.40 |
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).