Short answer
United Parcel Service (UPS) filed its fiscal 2025 10-K annual report with the SEC on Feb 17, 2026. It reported revenue of $88.7B (−2.6% year over year) and net income of $5.6B.
- Top risk flagged: Legal risk from contingent liabilities in employment and governmental claims, with no material losses recorded for 2025 but possible unpredictable judicial outcomes
FY2025 key financial metrics · XBRL
- Revenue
- $88.7B
- −2.6% YoY
- Net income
- $5.6B
- −3.6% YoY
- Operating margin
- 8.9%
- −0.4 pp YoY
- EPS (diluted)
- $6.56
- −2.8% YoY
- ROE
- 34.3%
- −0.2 pp YoY
- Operating cash flow
- $8.4B
- −16.5% YoY
Source: XBRL data from the United Parcel Service (UPS) FY2025 10-K on SEC EDGAR. USD.
United Parcel Service FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global package delivery and supply chain management services
- No new products, services, or segments introduced or emphasized in current filing
- No strategic shifts or changed competitive positioning detailed this year
- Proxy Statement incorporation for insider trading, executive compensation, ownership, and governance policies emphasized
- Filing mainly references related disclosures by incorporation; lacks direct operational or financial details this year
Management Discussion & Analysis
- Revenue $88.7B, down 2.6% YoY ($91.1B in 2024) reflecting customer volume cuts and Coyote divestiture
- Operating margin 8.9% vs 9.3% in 2024, operating profit $7.9B down 7.1%, net income $5.6B down 3.6%
- Best segment: International Package with volume and revenue growth amid trade lane shifts; Worst: U.S. Domestic Package with 8.6% volume decline and 1.4% revenue drop to $59.5B
- Returned $6.4B cash to shareholders: $1.0B share repurchases, $5.4B dividends; $3.5B cost savings in 2025 from network initiatives; ongoing capex not detailed
- 2026 outlook expects $3B cost savings from network reconfiguration, continued volume declines from largest customer, and margin pressure from international trade policies
Risk Factors
- Legal risk from contingent liabilities in employment and governmental claims, with no material losses recorded for 2025 but possible unpredictable judicial outcomes
- Macroeconomic exposure in Global Freight Forwarding unit with goodwill $877M at risk; 100 bps higher discount rate or 10% cash flow reduction could trigger impairment
- Operational supply chain vulnerability in Mail Innovations cost increases due to lost vendor contract; mitigated by new USPS final-mile delivery agreement starting 2026
- Market disruption from volatile purchased transportation rates impacting small package delivery segment’s Mail Innovations unit
- Financial risk from self-insurance reserves at $3.1B; 5% adverse change in claim frequency/severity could increase expenses by $300M annually
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.