United Parcel Service, Inc. Financial Ratios — UPS Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	50.67	13.81	78.58	70.39	210.11	238.05	701.22	238.66	141.22	68.45	172.9	67.85	36.17	33.99	33.83
Return on Assets (%)	11.14	2.19	11.65	8.46	13.14	8.7	11.41	10.02	8.23	2.23	19.56	16.44	9.45	8.21	7.78
Return on Capital (%)	21.73	6.32	26.43	21.54	34.06	22.06	24.95	20.64	17.31	6.19	39.37	29.11	16.77	14.94	14.59
Return on Invested Capital (%)	21.64	6.25	26.55	21.62	34.27	31.03	24.87	21.97	21.48	18.77	29.28	24.62	16.42	15.27	14.08
Gross Margin (%)	19.28	10.33	20.4	16.32	21.08	19.98	18.9	17.38	18.51	18.06	20.85	20.94	18.95	17.96	18.08
EBITDA Margin (%)	14.8	5.91	16.06	11.83	16.71	16.09	14.73	12.85	13.71	12.27	16.2	16.23	13.75	13.26	13.1
Operating Margin (%)	11.45	2.48	12.69	8.53	13.14	12.48	11.31	9.77	10.52	9.08	13.17	13.05	10.05	9.3	8.87
Incremental Operating Margin (%)	12.33	-463.5	434.1	-73.94	2,061.07	0.62	-3.2	-9.57	34.66	-1.08	40.49	9.31	42.14	-600.89	24.95
Pretax Margin (%)	10.88	1.8	12.04	7.96	12.58	8.31	10.72	8.38	7.63	2.18	17.06	14.78	9.43	8.17	8.08
Profit Margin (%)	7.16	1.49	7.89	5.21	8.3	5.55	7.37	6.67	5.99	1.59	13.25	11.51	7.37	6.35	6.28
Net Income to Common Margin (%)	7.16	1.49	7.89	5.21	8.3	5.55	7.37	6.67	5.99	1.59	13.25	11.51	7.37	6.35	6.28
Effective Tax Rate (%)	34.14	17.15	34.49	34.61	34.02	33.18	31.27	20.4	21.44	27.17	22.33	22.1	21.75	22.31	22.22
Dvd Payout Ratio (%)	52.5	263.94	51.69	78.03	52.13	77.24	56.49	62.85	71.94	251.23	26.66	44.28	80.08	93.38	96.88
Sustainable Growth Rate (%)	24.07	-22.64	37.96	15.46	100.59	54.19	305.08	88.67	39.63	-103.52	126.8	37.8	7.2	2.25	1.06

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	11,128	12,870	10,872	10,779	14,334	16,075	24,289	22,736	28,167	27,754	25,528	23,521	26,729	25,652	28,590
ST Debt	33	1,781	48	923	3,018	3,681	4,011	2,805	3,958	3,183	2,711	2,962	4,057	2,571	1,371
LT Debt	11,095	11,089	10,824	9,856	11,316	12,394	20,278	19,931	24,209	24,571	22,817	20,559	22,672	23,081	27,219
Total Debt/EBITDA	1.42	4.02	1.22	1.56	1.47	1.62	2.48	2.46	2.77	2.67	1.62	1.44	2.14	2.12	2.46
Net Debt/EBITDA	1.03	1.73	0.7	1.23	1.19	1.27	2.14	2.01	1.97	1.81	0.74	0.86	1.53	1.26	1.57
Total Debt/EBIT	1.83	9.58	1.55	2.17	1.87	2.09	3.23	3.24	3.61	3.61	1.99	1.8	2.92	3.03	3.63
Net Debt/EBIT	1.33	4.13	0.88	1.71	1.51	1.64	2.79	2.64	2.56	2.44	0.91	1.07	2.09	1.79	2.32
EBITDA to Interest Expense	22.59	8.15	23.42	19.52	28.6	26.02	21.66	15.26	15.56	14.81	22.71	23.13	15.89	13.95	11.42
EBITDA-CapEx/Interest Expense	22.59	8.15	23.42	19.52	28.6	26.02	21.66	15.26	15.56	14.81	22.71	23.13	15.89	13.95	11.42
EBIT to Interest Expense	17.47	3.42	18.51	14.07	22.49	20.18	16.62	11.61	11.94	10.96	18.46	18.6	11.61	9.78	7.74
Interest Expense	348	393	380	353	341	381	453	605	653	701	694	704	787	866	1,017
Common Equity/Total Assets	20.27	11.97	17.88	6.04	6.45	1	2.18	6.04	5.65	1.05	20.54	27.82	24.42	23.86	22.2
Long-Term Debt/Equity (%)	156.09	234.29	166.83	456.72	454.28	2,889.04	1,980.27	656.27	737.4	3,672.8	159.91	103.82	130.95	137.85	167.45
Long-Term Debt/Capital (%)	60.84	62.99	62.35	76.18	67.26	75.1	80.11	77.33	76.98	86.45	57.33	47.45	51.48	54.44	60.7
Long-Term Debt/Total Assets (%)	31.97	28.53	29.89	27.81	29.54	30.7	44.49	39.85	41.84	39.37	32.88	28.91	32	32.94	37.24
Total Debt/Equity (%)	156.56	271.92	167.57	499.49	575.43	3,747.09	2,371.97	748.63	857.97	4,148.58	178.91	118.77	154.38	153.21	175.88
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt/Total Assets (%)	32.07	33.12	30.02	30.41	37.41	39.81	53.3	45.46	48.68	44.47	36.78	33.07	37.72	36.61	39.12
Net Debt to Equity	113.87	117.11	95.67	393.33	465.84	2,936.83	2,047.75	609.52	609.2	2,801.79	81.72	71	110.29	90.62	112.21
Net Debt/Capital (%)	53.24	53.94	48.89	79.73	82.33	96.71	95.34	85.91	76.3	83.26	39.47	37.27	46.72	41.82	46.82
EBITDA	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
EBITDA-CapEx	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
Operating Income (Loss)	6,080	1,343	7,034	4,968	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468	7,867

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.66	0.94	0.74	0.38	0.44	0.39	0.32	0.36	0.37	0.37	0.6	0.42	0.34	0.38	0.38
Current Ratio	1.89	1.86	1.88	1.3	1.23	1.18	1.22	1.15	1.11	1.19	1.42	1.22	1.1	1.17	1.22
Quick Ratio	1.62	1.67	1.65	1.15	1.11	1.1	1.12	1.06	0.99	1	1.32	1.11	0.98	1.05	1.09
CFO/Avg Current Liab	1.14	0.97	0.94	0.73	0.77	0.58	0.12	0.94	0.59	0.65	0.87	0.79	0.57	0.59	0.53
Common Equity/Total Assets	20.27	11.97	17.88	6.04	6.45	1	2.18	6.04	5.65	1.05	20.54	27.82	24.42	23.86	22.2
Long-Term Debt/Equity (%)	156.09	234.29	166.83	456.72	454.28	2,889.04	1,980.27	656.27	737.4	3,672.8	159.91	103.82	130.95	137.85	167.45
Long-Term Debt/Capital (%)	60.84	62.99	62.35	76.18	67.26	75.1	80.11	77.33	76.98	86.45	57.33	47.45	51.48	54.44	60.7
Long-Term Debt/Total Assets (%)	31.97	28.53	29.89	27.81	29.54	30.7	44.49	39.85	41.84	39.37	32.88	28.91	32	32.94	37.24
Total Debt/Equity (%)	156.56	271.92	167.57	499.49	575.43	3,747.09	2,371.97	748.63	857.97	4,148.58	178.91	118.77	154.38	153.21	175.88
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt/Total Assets (%)	32.07	33.12	30.02	30.41	37.41	39.81	53.3	45.46	48.68	44.47	36.78	33.07	37.72	36.61	39.12
CFO/Total Liabilities	25.63	21.14	24.57	17.2	20.74	16.2	3.32	27.06	15.83	16.94	27.22	27.48	19.12	18.98	14.87
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.48	3.41	4.84	4.46	4.28	4.26	3.97	3.53	3.31	3.59	4.73	4.53	3.94	3.63	3.21

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	8.95	8.76	8.79	8.85	8.46	8.31	8.09	8.11	8.01	8.34	8.35	7.99	7.64	8.25	8.03
Days Sales Outstanding	40.8	41.66	41.52	41.25	43.14	43.93	45.14	45.03	45.59	43.78	43.69	45.7	47.75	44.26	45.45
Inventory Turnover	248.49	131.53	110.87	130.46	141.29	151.7	144.77	143.93	129.56	122.62	115.19	98.78	80.83	84.85	92.82
Days Inventory Outstanding	1.47	2.78	3.29	2.8	2.58	2.41	2.52	2.54	2.82	2.98	3.17	3.69	4.52	4.3	3.93
Accounts Payable Turnover	20.22	21.22	18.56	18.6	17.23	17.53	15.5	13.02	11.26	11.57	11.03	10.57	10.65	11.8	11.22
Accounts Payable Turnover Days	18.05	17.2	19.67	19.62	21.18	20.82	23.55	28.03	32.42	31.56	33.08	34.52	34.28	30.93	32.54
Cash Conversion Cycle	24.22	27.24	25.15	24.43	24.54	25.51	24.11	19.53	15.98	15.2	13.78	14.87	17.99	17.64	16.84
Inventory to Cash Days	39.33	38.89	38.23	38.46	40.55	41.52	42.62	42.49	42.77	40.8	40.52	42	43.24	39.96	41.52
Inventories	345	393	403	344	308	342	404	421	511	620	717	889	935	826	739
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	345	393	403	344	308	342	404	421	511	620	717	889	935	826	739

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	70,482	70,265	96,989	100,609	85,260	99,549	102,350	83,681	100,320	145,599	186,411	149,294	134,214	107,677	84,202
- Cash & Cash Equivalents	3,034	7,327	4,665	2,291	2,730	3,476	3,320	4,225	5,238	5,910	10,255	5,602	3,169	6,112	5,887
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	73	80	14	17	21	24	30	16	16	12	16	17	8	25	28
+ Total Debt	11,128	12,870	10,872	10,779	14,334	16,075	24,289	22,736	28,167	27,754	25,528	23,521	26,729	25,652	28,590
Enterprise Value	77,408	75,291	102,630	108,122	94,889	111,081	122,600	101,398	122,762	167,049	201,362	165,237	154,916	127,036	106,933
Total Capital	18,236	17,603	17,360	12,937	16,825	16,504	25,313	25,773	31,450	28,423	39,797	43,324	44,043	42,395	44,845
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt / EV	0.14	0.17	0.11	0.1	0.15	0.14	0.2	0.22	0.23	0.17	0.13	0.14	0.17	0.2	0.27
EV/Sales	1.46	1.39	1.85	1.86	1.63	1.8	1.84	1.41	1.66	1.97	2.07	1.65	1.7	1.39	1.21
EV/EBITDA	9.85	23.52	11.53	15.69	9.73	11.21	12.5	10.98	12.09	16.09	12.77	10.15	12.39	10.52	9.21
EV/EBIT	12.73	56.06	14.59	21.76	12.37	14.45	16.28	14.44	15.74	21.74	15.72	12.62	16.95	15	13.59
EV/Cash Flow to Firm	10.6	9.98	13.59	18.15	12.4	16.51	68.48	7.69	13.41	15.23	12.95	11.28	14.27	11.77	11.57
EV/Free Cash Flow to Firm	10.6	9.98	13.59	18.15	12.4	16.51	68.48	7.69	13.41	15.23	12.95	11.28	14.27	11.77	11.57
Diluted Market Cap	72,531	71,444	99,616	102,721	87,184	101,686	104,256	84,851	101,725	146,676	188,191	152,110	135,218	107,942	84,312
Diluted Enterprise Value	80,698	77,067	105,837	111,226	98,809	114,309	125,255	103,378	124,670	168,532	203,480	170,046	158,786	127,507	107,042
EV per Share	80.38	79	111.19	119.47	107.1	127.92	142.72	118.18	143.25	193.21	231.53	192.4	181.48	148.77	125.97
TTM Sales	53,105	54,127	55,438	58,232	58,363	61,610	66,585	71,861	74,094	84,628	97,287	100,338	90,958	91,070	88,661
TTM EBITDA	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
TTM Operating Income	6,080	1,343	7,034	4,968	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468	7,867
TTM Cash Flow to Firm	7,302	7,542	7,553	5,957	7,655	6,728	1,790	13,193	9,152	10,970	15,546	14,652	10,854	10,795	9,241
TTM Free Cash Flow to Firm	7,302	7,542	7,553	5,957	7,655	6,728	1,790	13,193	9,152	10,970	15,546	14,652	10,854	10,795	9,241

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	10.25	9.9	13.64	17.94	11.73	15.71	70.49	6.68	11.78	14.02	12.54	10.78	13.21	10.66	9.98
EV/EBIT	12.73	56.06	14.59	21.76	12.37	14.45	16.28	14.44	15.74	21.74	15.72	12.62	16.95	15	13.59
Enterprise Value	77,408	75,291	102,630	108,122	94,889	111,081	122,600	101,398	122,762	167,049	201,362	165,237	154,916	127,036	106,933
Low Price	60.74	69.56	75.02	93.19	93.64	87.3	102.12	89.89	92.65	82	154.76	154.87	133.68	122.01	82
EV/Sales	1.46	1.39	1.85	1.86	1.63	1.8	1.84	1.41	1.66	1.97	2.07	1.65	1.7	1.39	1.21
EV/EBITDA	9.85	23.52	11.53	15.69	9.73	11.21	12.5	10.98	12.09	16.09	12.77	10.15	12.39	10.52	9.21
Price/Earnings	18.87	87.71	22.59	33.59	17.9	29.58	21.16	17.63	22.78	108.71	14.53	13.11	20.13	18.65	15.11
Price/Earnings Average	18.24	90	19.06	30.43	18.73	27.32	19.86	20.51	21.56	83.78	12.95	14.28	21.91	20.61	15.27
Price/Earnings High	19.86	97.3	22.66	34.17	21.28	31.08	22.23	24.5	24.38	114.92	14.93	17.63	25.33	23.88	20.87
Price/Earnings Low	15.66	82.75	16.13	28.15	17.42	22.53	18.13	16.25	18.03	52.94	10.49	11.68	17.12	18.04	12.49
Price/Book Value	10.02	15.1	14.98	46.99	34.52	245.8	102.97	27.7	30.71	221.61	13.08	7.55	7.76	6.44	5.19
Price/Book Value Average	9.68	15.5	12.64	42.58	36.12	226.99	96.66	32.23	29.06	170.78	11.65	8.22	8.44	7.12	5.24
Price/Book Value High	10.54	16.75	15.02	47.81	41.04	258.24	108.16	38.49	32.87	234.26	13.44	10.14	9.76	8.25	7.17
Price/Book Value Low	8.31	14.25	10.7	39.39	33.59	187.18	88.25	25.53	24.3	107.91	9.44	6.72	6.59	6.23	4.29
Price/Tangible Book Value	16.21	37.43	27.64	-113.04	-34.13	-19.48	-21.14	-29.2	-36.98	-29.21	23.09	11.69	14.7	11.51	13.22
Price/Tangible Book Value Average	15.66	38.41	23.32	-102.43	-35.72	-17.99	-19.84	-33.97	-34.99	-22.51	20.57	12.73	16	12.72	13.36
Price/Tangible Book Value High	17.05	41.53	27.72	-115.01	-40.58	-20.47	-22.2	-40.57	-39.58	-30.88	23.72	15.72	18.5	14.74	18.26
Price/Tangible Book Value Low	13.45	35.32	19.73	-94.76	-33.21	-14.84	-18.12	-26.91	-29.27	-14.22	16.67	10.42	12.5	11.14	10.93
Price/Sales	1.35	1.31	1.78	1.75	1.49	1.64	1.56	1.18	1.37	1.73	1.93	1.51	1.48	1.18	0.95
Price/Sales Average	1.31	1.34	1.5	1.58	1.55	1.52	1.46	1.37	1.29	1.33	1.72	1.64	1.62	1.31	0.96
Price/Sales High	1.42	1.45	1.79	1.78	1.77	1.73	1.64	1.63	1.46	1.82	1.98	2.03	1.87	1.52	1.31
Price/Sales Low	1.12	1.23	1.27	1.47	1.45	1.25	1.34	1.08	1.08	0.84	1.39	1.34	1.26	1.15	0.79
Price/Cash Flow	10.15	9.81	13.52	17.78	11.67	15.64	70.17	6.64	11.71	13.96	12.48	10.74	13.19	10.65	9.97
Price/Cash Flow Average	9.81	10.07	11.41	16.11	12.21	14.44	65.87	7.73	11.08	10.76	11.12	11.69	14.36	11.77	10.07
Price/Cash Flow High	10.68	10.88	13.56	18.09	13.87	16.43	73.71	9.23	12.53	14.76	12.83	14.43	16.6	13.64	13.76
Price/Cash Flow Low	8.42	9.25	9.65	14.91	11.36	11.91	60.14	6.12	9.27	6.8	9.01	9.56	11.22	10.31	8.24
Price/Free Cash Flow Average	9.91	10.16	11.51	16.26	12.28	14.51	66.17	7.77	11.14	10.81	11.17	11.74	14.37	11.79	10.08
Price/Free Cash Flow High	10.79	10.98	13.68	18.25	13.95	16.5	74.05	9.28	12.6	14.82	12.89	14.5	16.62	13.66	13.78
Price/Free Cash Flow Low	8.51	9.34	9.74	15.04	11.42	11.96	60.42	6.15	9.32	6.83	9.05	9.61	11.23	10.32	8.25
EV/Sales Average	1.44	1.44	1.59	1.71	1.73	1.7	1.76	1.61	1.59	1.58	1.86	1.8	1.87	1.52	1.22
EV/Sales High	1.55	1.54	1.87	1.9	1.94	1.9	1.93	1.88	1.76	2.08	2.13	2.18	2.12	1.73	1.57
EV/Sales Low	1.26	1.33	1.36	1.59	1.62	1.44	1.63	1.33	1.38	1.1	1.54	1.5	1.51	1.36	1.04
EV/EBITDA Average	9.7	24.28	9.89	14.46	10.34	10.55	11.93	12.55	11.6	12.91	11.51	11.08	13.56	11.47	9.28
EV/EBITDA High	10.47	26.11	11.63	16.09	11.59	11.82	13.1	14.6	12.83	16.93	13.12	13.43	15.38	13.04	11.97
EV/EBITDA Low	8.48	22.47	8.48	13.47	9.7	8.92	11.08	10.36	10.08	8.93	9.51	9.27	11.01	10.25	7.95
EV/EBIT Average	12.55	57.87	12.52	20.06	13.15	13.6	15.55	16.5	15.12	17.45	14.16	13.78	18.56	16.36	13.7
EV/EBIT High	13.54	62.23	14.71	22.31	14.73	15.25	17.07	19.19	16.71	22.87	16.15	16.7	21.05	18.59	17.67
EV/EBIT Low	10.96	53.55	10.73	18.69	12.34	11.5	14.44	13.62	13.12	12.07	11.7	11.53	15.06	14.61	11.74
Last Price	73.19	73.73	105.08	111.17	96.23	114.64	119.15	97.53	117.06	168.4	214.34	173.84	157.23	126.1	99.19
High Price	77	81.79	105.37	113.1	114.4	120.44	125.16	135.53	125.31	178.01	220.24	233.72	197.8	161.48	136.99
Enterprise Value Average	76,286	77,723	88,038	99,668	100,846	104,554	117,079	115,894	117,881	134,055	181,369	180,480	169,642	138,563	107,815
Enterprise Value High	82,318	83,569	103,478	110,860	112,983	117,208	128,511	134,812	130,336	175,763	206,832	218,655	192,413	157,453	139,022
Enterprise Value Low	66,660	71,914	75,464	92,842	94,590	88,431	108,720	95,653	102,346	92,753	149,884	150,938	137,679	123,749	92,341

Shares Outstanding	963	953	923	905	886	868	859	858	857	865	870	859	854	854	849
Diluted Weighted Avg Shares	991	969	948	924	906	887	875	870	869	871	878	875	860	856	850
Basic Weighted Avg Shares	981	960	940	916	901	883	871	866	864	867	874	871	859	855	849
Revenue per Share	54.13	56.38	58.98	63.57	64.78	69.77	76.45	82.98	85.76	97.61	111.31	115.2	105.89	106.51	104.43
EBITDA per Share	8.01	3.33	9.47	7.52	10.82	11.23	11.26	10.66	11.76	11.97	18.04	18.69	14.56	14.13	13.68
Operating Income per Share	6.2	1.4	7.48	5.42	8.51	8.71	8.64	8.11	9.03	8.86	14.66	15.03	10.64	9.9	9.27
Basic EPS, GAAP	3.88	0.84	4.65	3.31	5.38	3.88	5.63	5.53	5.14	1.55	14.75	13.26	7.81	6.76	6.56
Basic EPS from Cont Ops	3.88	0.84	4.65	3.31	5.38	3.88	5.63	5.53	5.14	1.55	14.75	13.26	7.81	6.76	6.56
Diluted EPS, GAAP	3.84	0.83	4.61	3.28	5.35	3.86	5.61	5.51	5.11	1.54	14.68	13.2	7.8	6.75	6.56
Diluted EPS from Cont Ops	3.84	0.83	4.61	3.28	5.35	3.86	5.61	5.51	5.11	1.54	14.68	13.2	7.8	6.75	6.56
Dividend per Share	2.04	2.22	2.4	2.58	2.8	2.99	3.18	3.48	3.7	3.89	3.93	5.87	6.25	6.31	6.36
Cash Flow per Share	7.21	7.52	7.77	6.25	8.25	7.33	1.7	14.68	10	12.06	17.17	16.19	11.92	11.84	9.95
Free Cash Flow per Basic Share	7.21	7.52	7.77	6.25	8.25	7.33	1.7	14.68	10	12.06	17.17	16.19	11.92	11.84	9.95
Cash & Equivalents per Share	4.44	8.31	5.68	3.63	5.33	5.26	4.74	5.87	6.7	7.31	12.18	8.84	7.07	7.4	6.93
Book Value per Share	7.31	4.88	7.01	2.37	2.79	0.47	1.16	3.52	3.81	0.76	16.39	23.04	20.27	19.58	19.12
Tangible Book Value per Share	4.52	1.97	3.8	-0.98	-2.82	-5.88	-5.64	-3.34	-3.17	-5.76	9.28	14.87	10.69	10.95	7.5

United Parcel Service, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)