United Parcel Service (UPS) Operating Expenses (2009 - 2026)
United Parcel Service (UPS) posted Operating Expenses of $21.9 billion for Q2 2026, up 12.9% from $19.4 billion a year earlier and up 9.9% from the prior quarter.
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Analysis
United Parcel Service (UPS) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at United Parcel Service was $83.35 billion, up 1.8% year-over-year; for FY2025, it was $80.79 billion, down 2.2% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 1.0% (FY2020 to FY2025).
- In prior years, United Parcel Service's Operating Expenses was $82.6 billion in FY2024 (+1.0%), $81.82 billion in FY2023 (-6.2%), $87.24 billion in FY2022 (+3.3%) and $84.48 billion in FY2021 (+9.8%).
- Quarterly Operating Expenses has run from a low of $19.28 billion in Q2 2023 to a high of $23.88 billion in Q4 2021 over five years.
- On a year-over-year basis, Operating Expenses increased in three of the last eight quarters, with growth averaging 0.9%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q2 2026, with growth of 12.9%; the weakest was Q2 2023, with a decline of 9.2%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $19.94 billion (Q1 2026), $21.9 billion (Q4 2025) and $19.61 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - | 4.10 Bn |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - | 2.43 Bn |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - | 1.95 Bn |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - | 21.90 Bn |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - | 2.34 Bn |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - | 23.46 Bn |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - | 17.89 Bn |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - | 1.09 Bn |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn | 4.43 Bn |
| 10 | Copart | 25.14 Bn | 9.56 Bn | 645.66 Mn | 783.54 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.90 Bn |
| Mar 31, 2026 | 19.94 Bn |
| Dec 31, 2025 | 21.90 Bn |
| Sep 30, 2025 | 19.61 Bn |
| Jun 30, 2025 | 19.40 Bn |
| Mar 31, 2025 | 19.88 Bn |
| Dec 31, 2024 | 22.38 Bn |
| Sep 30, 2024 | 20.26 Bn |
| Jun 30, 2024 | 19.87 Bn |
| Mar 31, 2024 | 20.09 Bn |
| Dec 31, 2023 | 22.44 Bn |
| Sep 30, 2023 | 19.72 Bn |
| Jun 30, 2023 | 19.28 Bn |
| Mar 31, 2023 | 20.38 Bn |
| Dec 31, 2022 | 23.84 Bn |
| Sep 30, 2022 | 21.05 Bn |
| Jun 30, 2022 | 21.23 Bn |
| Mar 31, 2022 | 21.13 Bn |
| Dec 31, 2021 | 23.88 Bn |
| Sep 30, 2021 | 20.29 Bn |
API Access
United Parcel Service Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=UPS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "UPS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=UPS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();