Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

United Parcel Service Inc. (NYSE:UPS)

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Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

United Parcel Service Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. United Parcel Service Inc.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. United Parcel Service Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. United Parcel Service Inc.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. United Parcel Service Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. United Parcel Service Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. United Parcel Service Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. United Parcel Service Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. United Parcel Service Inc.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. United Parcel Service Inc.’s fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Debt to Equity

United Parcel Service Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
 
Equity for controlling interests
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Equity, Sector
Industrial Transportation
Debt to Equity, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to equity = Total debt ÷ Equity for controlling interests
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. United Parcel Service Inc.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

United Parcel Service Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
Current maturities of operating leases
Non-current operating leases
Total debt (including operating lease liability)
 
Equity for controlling interests
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Equity (including Operating Lease Liability), Sector
Industrial Transportation
Debt to Equity (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Equity for controlling interests
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. United Parcel Service Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

United Parcel Service Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
Equity for controlling interests
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Capital, Sector
Industrial Transportation
Debt to Capital, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. United Parcel Service Inc.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

United Parcel Service Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
Current maturities of operating leases
Non-current operating leases
Total debt (including operating lease liability)
Equity for controlling interests
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Capital (including Operating Lease Liability), Sector
Industrial Transportation
Debt to Capital (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. United Parcel Service Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

United Parcel Service Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Assets, Sector
Industrial Transportation
Debt to Assets, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. United Parcel Service Inc.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

United Parcel Service Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current maturities of long-term debt, commercial paper and finance leases
Long-term debt and finance leases, excluding current maturities
Total debt
Current maturities of operating leases
Non-current operating leases
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Debt to Assets (including Operating Lease Liability), Sector
Industrial Transportation
Debt to Assets (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. United Parcel Service Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Financial Leverage

United Parcel Service Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Equity for controlling interests
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Financial Leverage, Sector
Industrial Transportation
Financial Leverage, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Financial leverage = Total assets ÷ Equity for controlling interests
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. United Parcel Service Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

United Parcel Service Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Interest Coverage, Sector
Industrial Transportation
Interest Coverage, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. United Parcel Service Inc.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Fixed Charge Coverage

United Parcel Service Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest expense
Operating lease costs
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
Fixed Charge Coverage, Sector
Industrial Transportation
Fixed Charge Coverage, Industry
Industrials

Based on: 10-K (filing date: 2021-02-22), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. United Parcel Service Inc.’s fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.