United Parcel Service (UPS) Operating Margin (2009 - 2026)
United Parcel Service (UPS) reported Operating Margin of 5.98% for Q1 2026, down 176.0% year-over-year from 7.86% in Q1 2025, and down 43.19% quarter-over-quarter from 10.52% in Q4 2025.
United Parcel Service (UPS) Operating Margin (2009 - 2026) Analysis & Trends
United Parcel Service (UPS) has 18 years of Operating Margin data on file, last reported at 5.98% in Q1 2026.
- Operating Margin for Q1 2026 came in at 5.98%, down 176.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 8.46% (down 92.0% YoY), and the FY2025 annual result was 8.87%, down 43.0% from the prior year.
- Operating Margin fell to 5.98% in Q1 2026 per UPS's latest filing, from 10.52% in the prior quarter.
- Over five years, Operating Margin peaked at 14.27% in Q2 2022 and troughed at 5.98% in Q1 2026.
- A 5-year average of 10.02% and a median of 9.94% in 2023 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2023 and 2024: Operating Margin sank 651 bps in 2023, then surged 255 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 11.82% in 2022, then dropped by 16 bps to 9.94% in 2023, then rose by 16 bps to 11.56% in 2024, then decreased by 9 bps to 10.52% in 2025, then tumbled by 43 bps to 5.98% in 2026.
- Business Quant data shows UPS's Operating Margin at 5.98% in Q1 2026, 10.52% in Q4 2025, and 8.42% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 5.98% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 5.62% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 6.77% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 4.38% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | -20.02% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 4.55% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | 1.18% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 19.16% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | -4.51% |
| 10 | Cryoport | 783.40 Mn | 379.76 Mn | 21.91 Mn | -20.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 5.98% |
| Dec 31, 2025 | 10.52% |
| Sep 30, 2025 | 8.42% |
| Jun 30, 2025 | 8.59% |
| Mar 31, 2025 | 7.73% |
| Dec 31, 2024 | 11.56% |
| Sep 30, 2024 | 8.92% |
| Jun 30, 2024 | 8.91% |
| Mar 31, 2024 | 7.43% |
| Dec 31, 2023 | 9.94% |
| Sep 30, 2023 | 6.38% |
| Jun 30, 2023 | 12.60% |
| Mar 31, 2023 | 11.08% |
| Dec 31, 2022 | 11.82% |
| Sep 30, 2022 | 12.88% |
| Jun 30, 2022 | 14.27% |
| Mar 31, 2022 | 13.34% |
| Dec 31, 2021 | 14.01% |
| Sep 30, 2021 | 12.49% |
| Jun 30, 2021 | 13.91% |