United Parcel Service (UPS) Return on Capital Employed [ROCE] (2009 - 2026)
United Parcel Service (UPS) recorded Return on Capital Employed [ROCE] of 11.55% in Q3 2026, down 2.97 percentage points from 14.52% a year earlier and down 0.06 percentage points from the prior quarter.
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Analysis
United Parcel Service (UPS) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, United Parcel Service reported Return on Capital Employed [ROCE] of 14.06%, down 1.62 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has declined for four straight years, with a five-year change of -3.76 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 15.67% in FY2024 (-1.47 pp), 17.15% in FY2023 (-7.98 pp), 25.12% in FY2022 (-1.38 pp) and 26.50% in FY2021 (+8.68 pp).
- The Q3 2026 figure is the lowest quarterly Return on Capital Employed [ROCE] since Q3 2013.
- On a year-over-year basis, Return on Capital Employed [ROCE] has declined for five consecutive quarters, with an average year-over-year change of -1.39 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 8.69 percentage points in Q4 2021, against a drop of 8.36 percentage points in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 11.61% (Q2 2026), 12.93% (Q1 2026) and 13.89% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 178.63 Bn | 170.88 Bn | - | 15.93% |
| 2 | Csx | 94.16 Bn | 89.39 Bn | - | 13.38% |
| 3 | United Parcel Service | 83.47 Bn | 60.32 Bn | 22.04 Bn | 11.55% |
| 4 | Canadian Pacific Kansas City | 81.54 Bn | 81.26 Bn | 57.15 Mn | 7.22% |
| 5 | Fedex | 75.60 Bn | 41.80 Bn | 18.84 Bn | 7.01% |
| 6 | Norfolk Southern | 73.66 Bn | 68.13 Bn | - | 9.77% |
| 7 | Delta Air Lines | 60.67 Bn | 42.86 Bn | - | 10.05% |
| 8 | United Airlines Holdings | 39.17 Bn | -18.53 Bn | - | 8.46% |
| 9 | Old Dominion Freight Line | 34.72 Bn | 33.56 Bn | 1.56 Bn | 29.43% |
| 10 | Ryanair Holdings | 31.95 Bn | 16.22 Bn | - | 15.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 11.55% |
| Jun 30, 2026 | 11.61% |
| Mar 31, 2026 | 12.93% |
| Dec 31, 2025 | 13.89% |
| Sep 30, 2025 | 14.52% |
| Jun 30, 2025 | 15.15% |
| Mar 31, 2025 | 15.90% |
| Dec 31, 2024 | 16.06% |
| Sep 30, 2024 | 14.92% |
| Jun 30, 2024 | 13.80% |
| Mar 31, 2024 | 15.06% |
| Dec 31, 2023 | 17.28% |
| Sep 30, 2023 | 18.09% |
| Jun 30, 2023 | 20.55% |
| Mar 31, 2023 | 22.36% |
| Dec 31, 2022 | 25.09% |
| Sep 30, 2022 | 26.45% |
| Jun 30, 2022 | 25.72% |
| Mar 31, 2022 | 25.13% |
| Dec 31, 2021 | 25.62% |
API Access
United Parcel Service Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=UPS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=UPS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();