United Parcel Service (UPS) Operating Margin (2009 - 2026)
United Parcel Service (UPS) reported Operating Margin of 4.07% for Q2 2026, down 4.51 percentage points from 8.59% a year earlier and down 1.90 percentage points from the prior quarter.
Powered by 
Analysis
United Parcel Service (UPS) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, United Parcel Service's Operating Margin came in at 7.31%, down 1.99 percentage points year-over-year; for FY2025, it came in at 8.87%, down 0.43 percentage points from FY2024.
- Operating Margin has declined for four consecutive years, with a five-year change of -0.21 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 9.30% in FY2024 (-0.75 pp), 10.05% in FY2023 (-3.00 pp), 13.05% in FY2022 (-0.12 pp) and 13.17% in FY2021 (+4.09 pp).
- The Q2 2026 figure ranks as the lowest quarterly Operating Margin since Q4 2016.
- Year over year, Operating Margin has now declined in each of the last five quarters, with an average year-over-year change of -0.46 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q4 2021 (a gain of 5.83 percentage points); the low point was Q3 2023 (a drop of 6.51 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 5.98% (Q1 2026), 10.52% (Q4 2025) and 8.42% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - | 40.25% |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - | 38.27% |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - | 35.35% |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - | 4.07% |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - | 32.44% |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - | 6.20% |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - | 9.43% |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - | 29.94% |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn | 13.12% |
| 10 | Copart | 25.14 Bn | 9.56 Bn | 645.66 Mn | 32.01% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.07% |
| 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% |
API Access
United Parcel Service Operating Margin 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-margin&ticker=UPS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=UPS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();