Stock Analysis on Net
Stock Analysis on Net

United Parcel Service Inc. (NYSE:UPS)

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

Beginner level

Short-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Turnover Ratios
Receivables turnover 8.84 7.87 8.93 8.38 9.23 7.76 9.23 8.98 9.45 8.02 9.45 9.42 8.90 7.51 9.22 9.60 9.54 7.92
Payables turnover 3.75 3.43 3.66 3.73 4.02 3.44 4.61 4.57 5.06 3.84 5.26 4.90 4.98 4.24 5.51 5.63 5.99 4.54
Working capital turnover 19.13 26.45 17.95 19.57 21.16 43.84 54.39 59.92 42.42 33.85 40.05 29.08 27.39 23.19 86.10 47.96 702.31 28.74
Average No. Days
Average receivable collection period 41 46 41 44 40 47 40 41 39 45 39 39 41 49 40 38 38 46
Average payables payment period 97 107 100 98 91 106 79 80 72 95 69 75 73 86 66 65 61 80

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. United Parcel Service Inc.’s receivables turnover ratio deteriorated from Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. United Parcel Service Inc.’s payables turnover ratio decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. United Parcel Service Inc.’s working capital turnover ratio improved from Q3 2020 to Q4 2020 but then slightly deteriorated from Q4 2020 to Q1 2021 not reaching Q3 2020 level.

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.
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. United Parcel Service Inc.’s number of days of payables outstanding increased from Q3 2020 to Q4 2020 but then decreased significantly from Q4 2020 to Q1 2021.

Receivables Turnover

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Revenue 22,908  24,896  21,238  20,459  18,035  20,568  18,318  18,048  17,160  19,848  17,444  17,456  17,113  18,829  15,978  15,750  15,315  16,931  14,928  14,629  14,418 
Accounts receivable, net 10,127  10,750  8,993  9,230  8,126  9,552  7,951  8,071  7,613  8,958  7,494  7,363  7,606  8,773  6,937  6,553  6,475  7,695  6,272  6,111  6,241 
Short-term Activity Ratio
Receivables turnover1 8.84 7.87 8.93 8.38 9.23 7.76 9.23 8.98 9.45 8.02 9.45 9.42 8.90 7.51 9.22 9.60 9.54 7.92
Benchmarks
Receivables Turnover, Competitors2
CSX Corp. 11.01 11.60 10.86 12.76 11.69 12.11 11.08 11.11 11.20 12.13 10.98 11.18 10.92 11.76 11.81 11.38 12.00 11.80
FedEx Corp. 6.80 6.85 7.47 7.13 7.48 7.65 7.66 7.18 7.71 7.72 7.37 7.20 7.61 7.94 7.76 7.29 7.29 6.94 8.79 8.28 8.55
Norfolk Southern Corp. 10.38 11.54 11.22 12.46 12.46 12.28 11.82 11.17 11.05 11.36 10.77 10.58 10.99 11.05 10.66 11.04 10.06 10.46
Union Pacific Corp. 11.99 12.98 12.53 14.55 12.91 13.61 13.49 12.53 13.60 13.01 12.57 13.47 13.74 14.23 14.68 15.27 15.83 15.85

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

1 Q1 2021 Calculation
Receivables turnover = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Accounts receivable, net
= (22,908 + 24,896 + 21,238 + 20,459) ÷ 10,127 = 8.84

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.’s receivables turnover ratio deteriorated from Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.

Payables Turnover

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Cost of revenue 6,135  6,848  5,507  5,124  4,638  5,277  4,639  4,652  4,541  5,594  4,841  4,805  4,690  5,075  3,968  3,715  3,676  4,124  3,387  3,203  3,108 
Accounts payable 6,305  6,455  5,609  5,271  4,779  5,555  4,218  4,291  3,907  5,188  3,689  3,785  3,501  3,872  2,808  2,648  2,404  3,042  2,287  2,405  2,040 
Short-term Activity Ratio
Payables turnover1 3.75 3.43 3.66 3.73 4.02 3.44 4.61 4.57 5.06 3.84 5.26 4.90 4.98 4.24 5.51 5.63 5.99 4.54
Benchmarks
Payables Turnover, Competitors2
CSX Corp. 2.61 2.75 2.19 2.52 2.45 2.55 2.55 2.95 2.92 3.17 3.05 3.49 3.23 3.51 3.22 3.55 3.20 3.45
FedEx Corp. 8.36 8.33 8.50 8.15 8.43 8.82 8.40 7.69 8.26 8.22 7.66 7.33 7.62 8.00 7.63 6.57 6.42 5.89 8.43 7.90 8.24
Norfolk Southern Corp. 2.11 2.19 1.84 1.88 2.02 1.88 1.93 1.99 2.12 1.87 1.87 1.85 1.92 1.61 1.82 1.91 1.91 1.85

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

1 Q1 2021 Calculation
Payables turnover = (Cost of revenueQ1 2021 + Cost of revenueQ4 2020 + Cost of revenueQ3 2020 + Cost of revenueQ2 2020) ÷ Accounts payable
= (6,135 + 6,848 + 5,507 + 5,124) ÷ 6,305 = 3.75

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.’s payables turnover ratio decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Current assets 20,985  20,216  19,930  20,226  19,389  17,103  14,184  14,843  14,904  16,210  13,991  13,874  13,620  15,548  12,910  12,394  11,494  13,849  12,853  13,123  13,912 
Less: Current liabilities 16,306  17,016  15,456  16,271  15,846  15,413  12,835  13,633  13,209  14,087  12,222  11,488  11,149  12,708  12,167  11,082  11,406  11,730  10,889  9,961  11,098 
Working capital 4,679  3,200  4,474  3,955  3,543  1,690  1,349  1,210  1,695  2,123  1,769  2,386  2,471  2,840  743  1,312  88  2,119  1,964  3,162  2,814 
 
Revenue 22,908  24,896  21,238  20,459  18,035  20,568  18,318  18,048  17,160  19,848  17,444  17,456  17,113  18,829  15,978  15,750  15,315  16,931  14,928  14,629  14,418 
Short-term Activity Ratio
Working capital turnover1 19.13 26.45 17.95 19.57 21.16 43.84 54.39 59.92 42.42 33.85 40.05 29.08 27.39 23.19 86.10 47.96 702.31 28.74
Benchmarks
Working Capital Turnover, Competitors2
CSX Corp. 4.21 4.37 5.50 7.60 7.32 10.59 10.56 10.90 7.98 18.85 14.25 10.08 6.91 543.24 119.40 12.06 29.56 24.76
FedEx Corp. 9.27 11.46 31.44 26.10 22.61 17.11 16.31 17.43 22.14 17.62 15.68 13.39 12.36 12.81 12.83 13.01 13.43 12.65 11.52 9.34 9.89
Norfolk Southern Corp. 181.54 61.96 17.26 24.68 117.51
Union Pacific Corp. 476.41 67.83 78.48 180.37 317.01 33.91 44.76

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

1 Q1 2021 Calculation
Working capital turnover = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Working capital
= (22,908 + 24,896 + 21,238 + 20,459) ÷ 4,679 = 19.13

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.’s working capital turnover ratio improved from Q3 2020 to Q4 2020 but then slightly deteriorated from Q4 2020 to Q1 2021 not reaching Q3 2020 level.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Receivables turnover 8.84 7.87 8.93 8.38 9.23 7.76 9.23 8.98 9.45 8.02 9.45 9.42 8.90 7.51 9.22 9.60 9.54 7.92
Short-term Activity Ratio (no. days)
Average receivable collection period1 41 46 41 44 40 47 40 41 39 45 39 39 41 49 40 38 38 46
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
CSX Corp. 33 31 34 29 31 30 33 33 33 30 33 33 33 31 31 32 30 31
FedEx Corp. 54 53 49 51 49 48 48 51 47 47 50 51 48 46 47 50 50 53 42 44 43
Norfolk Southern Corp. 35 32 33 29 29 30 31 33 33 32 34 34 33 33 34 33 36 35
Union Pacific Corp. 30 28 29 25 28 27 27 29 27 28 29 27 27 26 25 24 23 23

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

1 Q1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.84 = 41

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.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Payables turnover 3.75 3.43 3.66 3.73 4.02 3.44 4.61 4.57 5.06 3.84 5.26 4.90 4.98 4.24 5.51 5.63 5.99 4.54
Short-term Activity Ratio (no. days)
Average payables payment period1 97 107 100 98 91 106 79 80 72 95 69 75 73 86 66 65 61 80
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
CSX Corp. 140 133 167 145 149 143 143 124 125 115 120 105 113 104 113 103 114 106
FedEx Corp. 44 44 43 45 43 41 43 47 44 44 48 50 48 46 48 56 57 62 43 46 44
Norfolk Southern Corp. 173 167 198 194 181 195 189 184 172 195 196 197 191 227 201 191 192 197

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-29), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-10).

1 Q1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.75 = 97

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. United Parcel Service Inc.’s number of days of payables outstanding increased from Q3 2020 to Q4 2020 but then decreased significantly from Q4 2020 to Q1 2021.