United Parcel Service (UPS) Gross Margin (2009 - 2026)
United Parcel Service (UPS) reported Gross Margin of 86.96% for Q1 2026, down 37.0% year-over-year from 138.04% in Q1 2025, and up 24.65% quarter-over-quarter from 69.77% in Q4 2025.
United Parcel Service (UPS) Gross Margin (2009 - 2026) Analysis & Trends
United Parcel Service (UPS) has 18 years of Gross Margin data on file, last reported at 86.96% in Q1 2026.
- Gross Margin for Q1 2026 came in at 86.96%, down 37.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 86.08% (down 1458.0% YoY), and the FY2025 annual result was 88.06%, down 715.0% from the prior year.
- Gross Margin advanced to 86.96% in Q1 2026 per UPS's latest filing, from 69.77% in the prior quarter.
- Over five years, Gross Margin peaked at 121.85% in Q4 2024 and troughed at 69.77% in Q4 2025.
- A 5-year average of 91.91% and a median of 93.15% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin jumped 4033 bps in 2024, then plunged 5208 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 98.2% in 2022, then declined by 17 bps to 81.52% in 2023, then soared by 49 bps to 121.85% in 2024, then sank by 43 bps to 69.77% in 2025, then advanced by 25 bps to 86.96% in 2026.
- Business Quant data shows UPS's Gross Margin at 86.96% in Q1 2026, 69.77% in Q4 2025, and 95.0% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 86.96% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 85.38% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 94.27% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 37.30% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | 99.58% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 98.74% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | 14.86% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 24.36% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | 78.63% |
| 10 | Cryoport | 783.40 Mn | 379.76 Mn | 21.91 Mn | 45.85% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 86.96% |
| Dec 31, 2025 | 69.77% |
| Sep 30, 2025 | 95.00% |
| Jun 30, 2025 | 95.01% |
| Mar 31, 2025 | 87.33% |
| Dec 31, 2024 | 121.85% |
| Sep 30, 2024 | 95.20% |
| Jun 30, 2024 | 94.84% |
| Mar 31, 2024 | 85.05% |
| Dec 31, 2023 | 81.52% |
| Sep 30, 2023 | 94.63% |
| Jun 30, 2023 | 85.62% |
| Mar 31, 2023 | 91.28% |
| Dec 31, 2022 | 98.20% |
| Sep 30, 2022 | 92.10% |
| Jun 30, 2022 | 93.15% |
| Mar 31, 2022 | 95.00% |
| Dec 31, 2021 | 105.42% |
| Sep 30, 2021 | 92.19% |
| Jun 30, 2021 | 81.02% |