Stock Analysis on Net

United Parcel Service Inc. (NYSE:UPS)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

United Parcel Service Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Receivables turnover 8.11 9.84 10.03 9.60 7.97 9.21 8.78 8.82 7.76 9.01 9.12 8.84 7.87 8.93 8.38 9.23 7.76
Payables turnover 14.35 15.59 15.81 15.69 13.36 15.02 13.96 14.04 12.93 14.65 14.09 14.20 13.11 14.32 14.68 15.69 13.34
Working capital turnover 52.36 27.10 20.23 18.10 24.61 14.61 12.16 11.27 13.21 12.81 14.87 19.13 26.45 17.95 19.57 21.16 43.84
Average No. Days
Average receivable collection period 45 37 36 38 46 40 42 41 47 40 40 41 46 41 44 40 47
Average payables payment period 25 23 23 23 27 24 26 26 28 25 26 26 28 25 25 23 27

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. United Parcel Service Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. United Parcel Service Inc. payables turnover ratio decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. United Parcel Service Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. United Parcel Service Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Receivables Turnover

United Parcel Service Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 24,917 21,061 22,055 22,925 27,033 24,161 24,766 24,378 27,771 23,184 23,424 22,908 24,896 21,238 20,459 18,035 20,568 18,318 18,048 17,160
Accounts receivable, net 11,216 9,461 9,587 10,299 12,583 10,975 11,396 11,199 12,541 10,474 10,137 10,127 10,750 8,993 9,230 8,126 9,552 7,951 8,071 7,613
Short-term Activity Ratio
Receivables turnover1 8.11 9.84 10.03 9.60 7.97 9.21 8.78 8.82 7.76 9.01 9.12 8.84 7.87 8.93 8.38 9.23 7.76
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 8.85 8.64 8.08 8.57 7.88 7.86 7.34 7.79 6.96 6.86 6.55 6.80 6.85 7.47 7.13 7.48 7.65 7.66 7.18 7.71
Uber Technologies Inc. 10.95 11.98 13.59 13.16 11.47 11.77 10.39 8.65 7.16 11.13 10.67 10.04 10.38 15.58 21.59 20.93 11.65
Union Pacific Corp. 11.63 12.48 13.56 12.82 13.15 11.90 11.42 11.57 12.66 12.63 12.34 11.99 12.98 12.53 14.55 12.91 13.61

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Receivables turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Accounts receivable, net
= (24,917 + 21,061 + 22,055 + 22,925) ÷ 11,216 = 8.11

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. United Parcel Service Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Payables Turnover

United Parcel Service Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 24,917 21,061 22,055 22,925 27,033 24,161 24,766 24,378 27,771 23,184 23,424 22,908 24,896 21,238 20,459 18,035 20,568 18,318 18,048 17,160
Accounts payable 6,340 5,972 6,085 6,302 7,512 6,731 7,168 7,036 7,523 6,445 6,563 6,305 6,455 5,609 5,271 4,779 5,555 4,218 4,291 3,907
Short-term Activity Ratio
Payables turnover1 14.35 15.59 15.81 15.69 13.36 15.02 13.96 14.04 12.93 14.65 14.09 14.20 13.11 14.32 14.68 15.69 13.34
Benchmarks
Payables Turnover, Competitors2
FedEx Corp. 23.43 23.23 23.59 22.74 23.20 21.90 21.37 22.67 21.86 19.74 20.02 21.41 21.17 21.82 21.07 21.92 23.00 21.93 20.21 21.92
Uber Technologies Inc. 28.43 27.17 30.63 29.34 27.00 22.55 18.17 13.53 10.87 24.80 15.26 23.16 21.93 23.50 24.51 32.64 26.50

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Payables turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Accounts payable
= (24,917 + 21,061 + 22,055 + 22,925) ÷ 6,340 = 14.35

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. United Parcel Service Inc. payables turnover ratio decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Working Capital Turnover

United Parcel Service Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 19,413 19,251 19,439 21,725 22,217 24,598 25,571 25,601 24,934 22,843 21,988 20,985 20,216 19,930 20,226 19,389 17,103 14,184 14,843 14,904
Less: Current liabilities 17,676 15,817 14,686 16,262 18,140 17,679 17,337 16,842 17,569 15,472 15,770 16,306 17,016 15,456 16,271 15,846 15,413 12,835 13,633 13,209
Working capital 1,737 3,434 4,753 5,463 4,077 6,919 8,234 8,759 7,365 7,371 6,218 4,679 3,200 4,474 3,955 3,543 1,690 1,349 1,210 1,695
 
Revenue 24,917 21,061 22,055 22,925 27,033 24,161 24,766 24,378 27,771 23,184 23,424 22,908 24,896 21,238 20,459 18,035 20,568 18,318 18,048 17,160
Short-term Activity Ratio
Working capital turnover1 52.36 27.10 20.23 18.10 24.61 14.61 12.16 11.27 13.21 12.81 14.87 19.13 26.45 17.95 19.57 21.16 43.84
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 17.94 21.22 22.52 16.22 15.35 16.74 13.05 13.06 12.13 9.67 8.17 9.27 11.46 31.44 26.10 22.61 17.11 16.31 17.43 22.14
Uber Technologies Inc. 20.23 28.22 17.25 65.98 80.50 83.47 1,646.62 9.53 129.39 10.72 3.69 4.83 3.46 3.19 1.71
Union Pacific Corp. 476.41 67.83

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Working capital turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Working capital
= (24,917 + 21,061 + 22,055 + 22,925) ÷ 1,737 = 52.36

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. United Parcel Service Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Average Receivable Collection Period

United Parcel Service Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 8.11 9.84 10.03 9.60 7.97 9.21 8.78 8.82 7.76 9.01 9.12 8.84 7.87 8.93 8.38 9.23 7.76
Short-term Activity Ratio (no. days)
Average receivable collection period1 45 37 36 38 46 40 42 41 47 40 40 41 46 41 44 40 47
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 41 42 45 43 46 46 50 47 52 53 56 54 53 49 51 49 48 48 51 47
Uber Technologies Inc. 33 30 27 28 32 31 35 42 51 33 34 36 35 23 17 17 31
Union Pacific Corp. 31 29 27 28 28 31 32 32 29 29 30 30 28 29 25 28 27

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.11 = 45

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. United Parcel Service Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Average Payables Payment Period

United Parcel Service Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 14.35 15.59 15.81 15.69 13.36 15.02 13.96 14.04 12.93 14.65 14.09 14.20 13.11 14.32 14.68 15.69 13.34
Short-term Activity Ratio (no. days)
Average payables payment period1 25 23 23 23 27 24 26 26 28 25 26 26 28 25 25 23 27
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
FedEx Corp. 16 16 15 16 16 17 17 16 17 18 18 17 17 17 17 17 16 17 18 17
Uber Technologies Inc. 13 13 12 12 14 16 20 27 34 15 24 16 17 16 15 11 14

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 14.35 = 25

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.