United Parcel Service (UPS) Gross Margin (2009 - 2026)
United Parcel Service (UPS) posted quarterly Gross Margin of 90.13% for Q1 2026, down 52.0% year-over-year from 187.78% in Q1 2025, and up 2.12% quarter-over-quarter from 88.26% in Q4 2025.
United Parcel Service (UPS) Gross Margin (2009 - 2026) Analysis & Trends
United Parcel Service (UPS) has reported Gross Margin for 18 consecutive years, with 90.13% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 52.0% year-over-year to 90.13%; the TTM figure through Mar 2026 stood at 89.37% (up 147.0% YoY), while the FY2025 annual figure was 88.06%, down 328.0% from the prior year.
- Gross Margin climbed to 90.13% in Q1 2026 per UPS's latest filing, from 88.26% in the prior quarter.
- Across five years, Gross Margin topped out at 119.44% in Q4 2022 and bottomed at 82.7% in Q3 2022.
- Historically, Gross Margin has averaged 90.18% across 5 years, with a median of 90.13% in 2026.
- Annual changes were most pronounced in 2022 — Gross Margin jumped 6887 bps — and 2023, when it sank 3475 bps.
- United Parcel Service's Gross Margin stood at 119.44% in 2022, then fell by 29 bps to 84.69% in 2023, then increased by 7 bps to 90.78% in 2024, then slipped by 3 bps to 88.26% in 2025, then grew by 2 bps to 90.13% in 2026.
- Business Quant data shows UPS's Gross Margin at 90.13% in Q1 2026, 88.26% in Q4 2025, and 88.5% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 87.24 Bn | 82.59 Bn | 19.65 Bn | 86.04% |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 75.35% |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | - |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 30.99% |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 22.41% |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 24.36% |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | 21.56% |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 14.76% |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 65.59% |
| 10 | Cryoport | 842.14 Mn | 445.45 Mn | 22.82 Mn | 46.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 86.04% |
| Mar 31, 2026 | 90.13% |
| Dec 31, 2025 | 88.26% |
| Sep 30, 2025 | 88.50% |
| Jun 30, 2025 | 90.77% |
| Mar 31, 2025 | 90.65% |
| Dec 31, 2024 | 90.78% |
| Sep 30, 2024 | 84.83% |
| Jun 30, 2024 | 85.00% |
| Mar 31, 2024 | 90.93% |
| Dec 31, 2023 | 84.69% |
| Sep 30, 2023 | 90.95% |
| Jun 30, 2023 | 85.62% |
| Mar 31, 2023 | 84.55% |
| Dec 31, 2022 | 119.44% |
| Sep 30, 2022 | 82.70% |
| Jun 30, 2022 | 92.37% |
| Mar 31, 2022 | 92.89% |
| Dec 31, 2021 | 50.57% |
| Sep 30, 2021 | 79.99% |