Analysis of Reportable Segments
United Parcel Service Inc. operates in 2 segments: U.S. Domestic Package and International Package.
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Segment Profit Margin
United Parcel Service Inc., profit margin by reportable segment
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package |
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).
Segment profit margins for both U.S. Domestic Package and International Package delivery exhibited distinct trends over the five-year period. The U.S. Domestic Package segment experienced a consistent decline in profitability, while the International Package segment, though also decreasing, demonstrated a more gradual reduction.
- U.S. Domestic Package
- The U.S. Domestic Package segment began with a profit margin of 10.67% in 2021, increasing modestly to 11.07% in 2022. However, subsequent years revealed a clear downward trajectory, falling to 8.56% in 2023, 7.20% in 2024, and further decreasing to 6.60% in 2025. This represents a cumulative decrease of approximately 38.4% from 2021 to 2025.
- International Package
- The International Package segment started with a higher profit margin of 23.78% in 2021. This margin decreased to 21.96% in 2022, continuing to 18.12% in 2023, 17.77% in 2024, and finally reaching 15.47% in 2025. While a decline is evident, the rate of decrease appears less pronounced than that of the U.S. Domestic Package segment. The cumulative decrease from 2021 to 2025 is approximately 35.0%.
- Comparative Analysis
- In 2021 and 2022, the International Package segment maintained significantly higher profit margins compared to the U.S. Domestic Package segment. However, the convergence of these margins is observable over the period, with the difference narrowing as both segments experienced declines. By 2025, the margin differential between the two segments had decreased substantially. The more rapid decline in the U.S. Domestic Package segment suggests potential challenges specific to that market, such as increased competition, rising operational costs, or shifts in consumer behavior.
The observed trends suggest a need for further investigation into the factors driving profitability within each segment. A detailed analysis of revenue, cost structures, and market dynamics would be beneficial to understand the underlying causes of these changes and inform strategic decision-making.
Segment Profit Margin: U.S. Domestic Package
United Parcel Service Inc.; U.S. Domestic Package; segment profit margin calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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).
1 2025 Calculation
Segment profit margin = 100 × Operating profit ÷ Revenue
= 100 × ÷ =
The U.S. Domestic Package segment experienced fluctuating financial performance between 2021 and 2025. Operating profit and revenue both initially increased before declining over the analyzed period. However, the segment profit margin demonstrates a more pronounced downward trend.
- Operating Profit
- Operating profit increased from US$6,436 million in 2021 to US$7,151 million in 2022, representing a growth of approximately 11.1%. Subsequently, operating profit decreased to US$5,156 million in 2023, continued to decline to US$4,345 million in 2024, and further decreased to US$3,926 million in 2025. This indicates a substantial erosion of profitability in the latter part of the period.
- Revenue
- Revenue followed a similar pattern to operating profit, increasing from US$60,317 million in 2021 to US$64,611 million in 2022, a rise of approximately 7.1%. Revenue then decreased to US$60,205 million in 2023, and experienced a slight increase to US$60,376 million in 2024 before declining again to US$59,519 million in 2025. The revenue trend suggests a stabilization followed by a final decrease.
- Segment Profit Margin
- The segment profit margin peaked at 11.07% in 2022, following 10.67% in 2021. A consistent decline was then observed, with the margin decreasing to 8.56% in 2023, 7.20% in 2024, and finally reaching 6.60% in 2025. This represents a significant reduction in profitability relative to revenue over the five-year period. The decreasing margin suggests increasing cost pressures or pricing challenges within the segment, despite initial revenue growth.
The divergence between revenue and segment profit margin suggests that while the segment maintained substantial revenue, its ability to convert that revenue into profit diminished considerably between 2022 and 2025. Further investigation into the cost structure of the U.S. Domestic Package segment is warranted.
Segment Profit Margin: International Package
United Parcel Service Inc.; International Package; segment profit margin calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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).
1 2025 Calculation
Segment profit margin = 100 × Operating profit ÷ Revenue
= 100 × ÷ =
The International Package segment experienced a consistent decline in profitability over the five-year period. While revenue demonstrated some fluctuation, operating profit decreased steadily, resulting in a shrinking segment profit margin.
- Operating Profit
- Operating profit for the International Package segment decreased from US$4,646 million in 2021 to US$2,873 million in 2025. This represents a cumulative decrease of approximately 38.2%. The largest year-over-year decline occurred between 2021 and 2022, followed by a substantial decrease between 2022 and 2023. The rate of decline slowed in the subsequent years, but remained negative.
- Revenue
- Revenue for the International Package segment showed a modest increase from US$19,541 million in 2021 to US$19,698 million in 2022. However, it then decreased to US$17,831 million in 2023 before stabilizing around US$17,960 million in 2024 and increasing slightly to US$18,576 million in 2025. Despite the increase in 2025, revenue remained below the 2021 level.
- Segment Profit Margin
- The segment profit margin exhibited a clear downward trend, decreasing from 23.78% in 2021 to 15.47% in 2025. This indicates that the segment’s ability to generate profit from each dollar of revenue diminished over time. The most significant decrease in margin occurred between 2021 and 2022, dropping to 21.96%, and continued to decline steadily in subsequent years. The margin’s decline outpaced the revenue fluctuations, suggesting increasing cost pressures or pricing challenges within the segment.
The consistent decline in segment profit margin, despite relatively stable revenue in later years, warrants further investigation into the underlying cost structure and competitive landscape of the International Package segment.
Segment Return on Assets (Segment ROA)
United Parcel Service Inc., ROA by reportable segment
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package |
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).
Segment return on assets for both U.S. Domestic Package and International Package exhibited a declining trend over the five-year period. While both segments demonstrated strong returns in the initial years, profitability, as measured by ROA, decreased consistently through 2025.
- U.S. Domestic Package
- The U.S. Domestic Package segment experienced a modest increase in return on assets from 18.00% in 2021 to 18.67% in 2022. However, this was followed by a substantial and continuous decline, reaching 10.23% in 2025. This represents a decrease of approximately 43.2% over the period. The rate of decline appeared to decelerate between 2023 and 2024, but continued into 2025.
- International Package
- The International Package segment began with a higher return on assets than the U.S. Domestic Package, at 26.97% in 2021. Similar to the domestic segment, a downward trend was observed, although the initial decline was less pronounced. The segment’s ROA decreased to 15.77% by 2025, representing a decrease of approximately 41.6% over the five-year period. The decline was relatively consistent year-over-year.
- Comparative Analysis
- In 2021 and 2022, the International Package segment consistently outperformed the U.S. Domestic Package in terms of return on assets. However, by 2024, the ROA for both segments converged, and the U.S. Domestic Package segment exhibited a slightly lower return in 2025. Both segments experienced similar proportional declines in ROA over the period, suggesting potential common factors influencing profitability, such as macroeconomic conditions or increased operating costs.
The consistent decline in segment ROA across both reporting units warrants further investigation to identify the underlying drivers and potential mitigation strategies. A deeper analysis of asset utilization, revenue generation, and cost structures within each segment is recommended.
Segment ROA: U.S. Domestic Package
United Parcel Service Inc.; U.S. Domestic Package; segment ROA calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | |||||
| Assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
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).
1 2025 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =
The U.S. Domestic Package segment experienced fluctuating performance between 2021 and 2025. Operating profit initially increased before declining, while assets remained relatively stable. This impacted the segment’s Return on Assets (ROA), which demonstrated a clear downward trend over the five-year period.
- Operating Profit
- Operating profit for the U.S. Domestic Package segment increased from $6,436 million in 2021 to $7,151 million in 2022, representing a growth of approximately 11.1%. However, subsequent years saw a consistent decline, falling to $5,156 million in 2023, $4,345 million in 2024, and further to $3,926 million in 2025. This represents an overall decrease of approximately 39.1% from the 2022 peak.
- Assets
- The segment’s asset base exhibited relative stability throughout the period. Assets increased from $35,746 million in 2021 to $38,303 million in 2022, and peaked at $38,657 million in 2024. A slight decrease was observed in 2025, with assets totaling $38,359 million. The overall change in assets from 2021 to 2025 was minimal, indicating consistent investment levels.
- Segment ROA
- Segment ROA began at 18.00% in 2021 and increased to 18.67% in 2022, aligning with the increase in operating profit. However, as operating profit declined, ROA followed suit. It decreased to 13.44% in 2023, 11.24% in 2024, and reached 10.23% in 2025. This consistent decline suggests a diminishing ability to generate profit from the segment’s asset base. The decrease in ROA is more pronounced than the decrease in operating profit alone, due to the relatively stable asset base.
The combination of declining operating profit and stable assets resulted in a consistent erosion of the segment’s ROA. This trend warrants further investigation to understand the underlying drivers of profitability and asset utilization within the U.S. Domestic Package segment.
Segment ROA: International Package
United Parcel Service Inc.; International Package; segment ROA calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | |||||
| Assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
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).
1 2025 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =
The International Package segment experienced a consistent decline in profitability and efficiency over the five-year period. Operating profit decreased steadily, while assets remained relatively stable, resulting in a decreasing Return on Assets (ROA).
- Operating Profit
- Operating profit for the International Package segment decreased from US$4,646 million in 2021 to US$2,873 million in 2025. The largest year-over-year decrease occurred between 2021 and 2022, with a reduction of US$320 million. Subsequent declines were more moderate, but consistently negative.
- Assets
- Assets employed by the International Package segment exhibited relative stability throughout the period. They increased slightly from US$17,225 million in 2021 to US$17,670 million in 2022, then decreased modestly to US$17,587 million in 2023. A further increase to US$18,300 million in 2024 was followed by a slight decrease to US$18,214 million in 2025. These fluctuations were comparatively small relative to the changes observed in operating profit.
- Segment ROA
- Segment ROA demonstrated a clear downward trend, falling from 26.97% in 2021 to 15.77% in 2025. Each year showed a decrease in ROA. The decline from 2021 to 2022 was 2.49 percentage points, and the rate of decline generally accelerated over the period, with a 1.71 percentage point decrease from 2023 to 2024 and a 0.67 percentage point decrease from 2024 to 2025. This suggests a weakening ability to generate profit from the assets invested in the International Package segment.
The consistent decrease in Segment ROA, coupled with the declining operating profit and stable asset base, indicates increasing inefficiencies or challenges within the International Package segment. Further investigation would be required to determine the underlying causes of these trends.
Segment Asset Turnover
United Parcel Service Inc., asset turnover by reportable segment
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package |
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).
An examination of segment asset turnover reveals distinct trends within the U.S. Domestic Package and International Package segments. The U.S. Domestic Package segment demonstrates a consistent, albeit gradual, decline in asset turnover over the five-year period, while the International Package segment exhibits more fluctuation.
- U.S. Domestic Package
- The U.S. Domestic Package segment experienced a stable asset turnover ratio of 1.69 in both 2021 and 2022. A downward trend commenced in 2023, with the ratio decreasing to 1.57. This decline continued through 2024, reaching 1.56, and further decreased to 1.55 in 2025. This suggests a decreasing efficiency in utilizing assets to generate revenue within this segment.
- International Package
- The International Package segment’s asset turnover ratio began at 1.13 in 2021, decreasing to 1.11 in 2022. A more pronounced decline was observed in 2023, falling to 1.01, and continued into 2024, reaching 0.98. However, the ratio showed a slight recovery in 2025, increasing to 1.02. This indicates a period of reduced asset efficiency followed by a partial rebound within the international operations.
- Comparative Analysis
- Throughout the observed period, the U.S. Domestic Package segment consistently maintained a higher asset turnover ratio than the International Package segment. The gap between the two segments widened from 0.56 in 2021 to 0.57 in 2024 before narrowing slightly to 0.53 in 2025. This suggests that assets are generally utilized more efficiently in the U.S. Domestic Package segment compared to the International Package segment.
The observed trends warrant further investigation to understand the underlying drivers of these changes in asset utilization. Potential factors could include shifts in capital expenditure, changes in revenue generation strategies, or alterations in the composition of assets held within each segment.
Segment Asset Turnover: U.S. Domestic Package
United Parcel Service Inc.; U.S. Domestic Package; segment asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | |||||
| Assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
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).
1 2025 Calculation
Segment asset turnover = Revenue ÷ Assets
= ÷ =
The U.S. Domestic Package segment experienced relatively stable revenue between 2021 and 2025, fluctuating around the US$60 billion mark. Assets within the segment demonstrated a moderate increase from 2021 to 2023, followed by stabilization and a slight decrease in the final reported year. The segment asset turnover ratio, a key indicator of asset utilization efficiency, exhibited a consistent downward trend over the five-year period.
- Revenue Trend
- Revenue for the U.S. Domestic Package segment increased from US$60.317 billion in 2021 to US$64.611 billion in 2022, representing a growth of approximately 7.1%. However, revenue then decreased to US$60.205 billion in 2023, before stabilizing at US$60.376 billion in 2024 and declining slightly to US$59.519 billion in 2025. This suggests a period of initial growth followed by a return to near-initial levels, with a minor contraction in the most recent year.
- Asset Trend
- The segment’s assets increased from US$35.746 billion in 2021 to US$38.303 billion in 2022, and continued to rise to US$38.368 billion in 2023. Asset levels remained relatively stable in 2024 at US$38.657 billion, before decreasing slightly to US$38.359 billion in 2025. The overall increase in assets from 2021 to 2024 was modest, indicating a controlled expansion of the asset base.
- Segment Asset Turnover
- The segment asset turnover ratio decreased steadily from 1.69 in 2021 to 1.55 in 2025. This indicates a declining trend in the efficiency with which the segment generates revenue from its assets. While the ratio remains above 1.0, suggesting that the segment is generating more revenue than the cost of its assets, the consistent decrease warrants further investigation. The decline could be attributable to several factors, including slower revenue growth relative to asset growth, or changes in the composition of assets.
The combination of relatively stable revenue and a slight increase in assets, coupled with the declining asset turnover ratio, suggests a potential decrease in operational efficiency within the U.S. Domestic Package segment. Continued monitoring of these trends is recommended.
Segment Asset Turnover: International Package
United Parcel Service Inc.; International Package; segment asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | |||||
| Assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
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).
1 2025 Calculation
Segment asset turnover = Revenue ÷ Assets
= ÷ =
The International Package segment experienced fluctuating revenue between 2021 and 2025, while assets remained relatively stable. This resulted in a corresponding pattern in the segment asset turnover ratio.
- Revenue Trend
- Revenue for the International Package segment initially increased from US$19,541 million in 2021 to US$19,698 million in 2022. A subsequent decline was observed in 2023, with revenue falling to US$17,831 million. Revenue showed a modest increase in 2024 to US$17,960 million, followed by a further increase to US$18,576 million in 2025.
- Asset Trend
- The value of assets within the International Package segment demonstrated relative stability throughout the period. Assets increased from US$17,225 million in 2021 to US$17,670 million in 2022. A slight decrease occurred in 2023, with assets at US$17,587 million. Assets then increased to US$18,300 million in 2024 before decreasing slightly to US$18,214 million in 2025.
- Segment Asset Turnover
- The segment asset turnover ratio decreased from 1.13 in 2021 to 1.11 in 2022, indicating a slightly less efficient use of assets to generate revenue. A more pronounced decrease was observed in 2023, with the ratio falling to 1.01. This trend continued into 2024, with the ratio reaching 0.98, representing the lowest value over the observed period. The ratio experienced a slight recovery in 2025, increasing to 1.02. This suggests a modest improvement in asset utilization, but remains below the levels seen in 2021 and 2022.
The decline in asset turnover from 2021 to 2024, despite relatively stable asset levels, suggests a weakening relationship between assets employed and revenue generated within the International Package segment. The slight improvement in 2025 may indicate early signs of a reversal of this trend, but further monitoring is warranted.
Revenue
United Parcel Service Inc., revenue by reportable segment
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package | |||||
| Total |
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).
Overall revenue exhibited growth between 2021 and 2022, followed by a decline in subsequent years. While 2023 and 2024 saw revenue decreases, 2025 demonstrated a slight stabilization, though not returning to 2022 levels. A closer examination of the reportable segments reveals differing performance patterns.
- U.S. Domestic Package Revenue
- Revenue from the U.S. Domestic Package segment initially increased from US$60,317 million in 2021 to US$64,611 million in 2022. However, this was followed by a decrease to US$60,205 million in 2023. A modest recovery occurred in 2024, reaching US$60,376 million, but this was then followed by a further decline to US$59,519 million in 2025. The segment’s performance suggests a cyclical pattern with a peak in 2022 and subsequent softening.
- International Package Revenue
- International Package revenue showed a minimal increase from US$19,541 million in 2021 to US$19,698 million in 2022. A more substantial decrease was observed in 2023, with revenue falling to US$17,831 million. This trend continued into 2024, with revenue at US$17,960 million. A slight increase was noted in 2025, reaching US$18,576 million, but the segment remains below its 2022 revenue level. The international segment appears more sensitive to external factors, exhibiting a more pronounced decline than the domestic segment.
- Total Revenue
- Total revenue increased from US$79,858 million in 2021 to US$84,309 million in 2022, representing the highest revenue figure in the observed period. Subsequent years witnessed declines, with revenue decreasing to US$78,036 million in 2023 and US$78,336 million in 2024. The final year, 2025, showed a slight decrease to US$78,095 million. The overall trend indicates a peak in 2022 followed by a period of revenue contraction.
The combined performance of the segments suggests that the overall revenue trend is heavily influenced by the U.S. Domestic Package segment, given its larger contribution to total revenue. While the International Package segment experienced a more significant percentage decline, its smaller base revenue had a less substantial impact on the overall total. The stabilization observed in 2025, though minimal, warrants further investigation to determine if it signals a potential reversal of the recent downward trend.
Operating profit
United Parcel Service Inc., operating profit by reportable segment
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package | |||||
| Total |
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).
Operating profit exhibited varied performance across reportable segments between 2021 and 2025. Overall, a declining trend in total operating profit is apparent throughout the period. While initial growth was observed, subsequent years demonstrate consistent decreases.
- U.S. Domestic Package
- Operating profit for the U.S. Domestic Package segment peaked in 2022 at US$7,151 million, representing an increase from the US$6,436 million reported in 2021. However, a substantial and consistent decline followed, with operating profit decreasing to US$5,156 million in 2023, US$4,345 million in 2024, and further to US$3,926 million in 2025. This segment experienced the most significant reduction in operating profit over the five-year period.
- International Package
- The International Package segment showed a different pattern. Operating profit decreased from US$4,646 million in 2021 to US$4,326 million in 2022. This downward trend continued, albeit at a slower pace, reaching US$3,231 million in 2023, US$3,191 million in 2024, and US$2,873 million in 2025. The decline in this segment, while consistent, was less pronounced than that observed in the U.S. Domestic Package segment.
- Total Operating Profit
- Total operating profit increased from US$11,082 million in 2021 to US$11,477 million in 2022. Following this peak, a clear downward trend emerged, with total operating profit decreasing to US$8,387 million in 2023, US$7,536 million in 2024, and US$6,799 million in 2025. The overall decline in total operating profit is largely attributable to the significant decrease in the U.S. Domestic Package segment, despite the consistent, though smaller, decline in the International Package segment.
The combined effect of these segment performances resulted in a cumulative decrease in total operating profit from 2022 to 2025. The rate of decline accelerated in the later years of the period, suggesting potential underlying pressures impacting profitability.
Assets
United Parcel Service Inc., assets by reportable segment
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. Domestic Package | |||||
| International Package | |||||
| Total |
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).
The asset values for the reportable segments demonstrate a generally stable pattern over the five-year period, with moderate fluctuations. Total assets increased initially, then plateaued, and experienced a slight decline in the most recent year presented.
- U.S. Domestic Package
- Assets within the U.S. Domestic Package segment exhibited an initial increase from 2021 to 2022, moving from US$35,746 million to US$38,303 million. This segment’s asset value remained relatively consistent between 2022 and 2024, fluctuating around US$38.3 billion. A minor decrease to US$38,359 million is observed in 2025. The segment represents a significant portion of the total assets, consistently accounting for approximately 68-70% of the overall asset base.
- International Package
- The International Package segment showed a similar pattern of growth between 2021 and 2024. Assets increased from US$17,225 million in 2021 to US$18,300 million in 2024. A slight decrease to US$18,214 million occurred in 2025. This segment consistently represents approximately 30-32% of total assets.
- Total Assets
- Total assets increased from US$52,971 million in 2021 to US$55,973 million in 2022, representing a growth of approximately 5.7%. Growth continued, albeit at a slower pace, reaching US$56,957 million in 2024. A slight decline to US$56,573 million is noted in 2025. The overall trend suggests a period of expansion followed by stabilization and a minor contraction in the latest year.
The relative proportions of assets allocated to each segment remained stable throughout the period. The U.S. Domestic Package segment consistently held the larger share of assets, while the International Package segment maintained a consistent, smaller proportion. The slight decrease in total assets in 2025 warrants further investigation to determine the underlying causes and potential implications.