United Parcel Service Inc., current enterprise value calculation

Current share price (P)	$98.10
No. shares of common stock outstanding	846,797,806
US$ in millions
Common equity (market value)¹	83,071)
Add: Noncontrolling interests (per books)	25)
Total equity	83,096)
Add: Current maturities of long-term debt, commercial paper and finance leases (per books)	1,838)
Add: Long-term debt and finance leases, excluding current maturities (per books)	19,446)
Total equity and debt	104,380)
Less: Cash and cash equivalents	6,112)
Less: Marketable securities	206)
Enterprise value (EV)	98,062)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 98.10 × 846,797,806

United Parcel Service Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$115.42	$148.64	$178.46	$208.97	$161.60
No. shares of common stock outstanding¹	854,171,950	852,653,061	858,740,988	870,391,403	867,038,529
US$ in millions
Common equity (market value)³	98,589)	126,738)	153,251)	181,886)	140,113)
Add: Noncontrolling interests (book value)	25)	8)	17)	16)	12)
Total equity	98,614)	126,746)	153,268)	181,902)	140,125)
Add: Current maturities of long-term debt, commercial paper and finance leases (book value)	1,838)	3,348)	2,341)	2,131)	2,623)
Add: Long-term debt and finance leases, excluding current maturities (book value)	19,446)	18,916)	17,321)	19,784)	22,031)
Total equity and debt	119,898)	149,010)	172,930)	203,817)	164,779)
Less: Cash and cash equivalents	6,112)	3,206)	5,602)	10,255)	5,910)
Less: Marketable securities	206)	2,866)	1,993)	338)	406)
Enterprise value (EV)	113,580)	142,938)	165,335)	193,224)	158,463)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of United Parcel Service Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 115.42 × 854,171,950

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	United Parcel Service Inc. EV decreased from 2022 to 2023 and from 2023 to 2024.

United Parcel Service Inc. (NYSE:UPS)

Enterprise Value (EV)