Forensic Analysis · Transportation / Logistics · as of Aug 11, 2026

United Parcel Service Inc (UPS)

A forensic read on United Parcel Service Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

3.6

Distress distance

Clean

Earnings quality

Forensic signals

19.4

P / E (ttm)

34.3%

ROE

$88.9B

Market cap

6.36%

Dividend yield

-2.6%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

United Parcel Service Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

11.7%

FY2025

Return on invested capital. Return on invested capital is 11.7% in the latest fiscal year and slipping from 21% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

134% of FCF

FY2025

Shareholder returns. Returned $6.4B to shareholders (buybacks + dividends) in FY2025 — 134% of free cash flow, but 76% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $73M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 136%.

$619M

FY2020–FY2023

Goodwill impairments. Took $619M of goodwill writedowns across 2 years (FY2020 ($494M), FY2023 ($125M)) — about 2% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$88.66B

Revenue Growth YoY-2.6%

Revenue CAGR (3yr)-4.0%

Net Margin6.3%

Free Cash Flow$4.76B

Return on Equity34.3%

Debt / Equity1.49x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.