Filing Flows › Industrials › United Parcel Service (UPS)
United Parcel Service (UPS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · United Parcel Service (UPS) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $22.9B · 5¢ of every $1 of revenue kept as net profit · operating margin 7.6%
United Parcel Service made $22.9B in Q3 2026 (+7% Y/Y). Operating margin 7.6%, net earnings $1.2B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $22.9B in Q3 2026, up 7% year over year and roughly flat from the previous quarter.
Operating profit was $1.7B, a 7.6% margin (down 0.8 points year over year). Operating profit fell $0.06B even though revenue rose $1.4B versus Q3 2025, so costs grew faster than sales. Total costs grew 8% against revenue growth of 7%. Net earnings were $1.2B, down 11% year over year. The effective tax rate was 26.0%.
Operating cash flow was $2.9B (up 17% year over year), 250% of net earnings. Non-cash charges added back $0.70B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $1.0B. Capital expenditures of $0.50B left free cash flow of $2.4B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $22.9B | +7% | 7.6% | $1.2B | $2.9B |
| Q2 2026 | 10-Q | Aug 5, 2026 | $22.8B | +8% | 4.1% | $604M | $859M |
| Q1 2026 | 10-Q | May 6, 2026 | $21.2B | -2% | 6.0% | $864M | $2.2B |
| Q4 2025 | 10-K | Feb 17, 2026 | $24.5B | -3% | 10.5% | $1.8B | $3.3B |
| Q3 2025 | 10-Q | Nov 5, 2025 | $21.4B | -4% | 8.4% | $1.3B | $2.5B |
| Q2 2025 | 10-Q | Aug 6, 2025 | $21.2B | -3% | 8.6% | $1.3B | $348M |
| Q1 2025 | 10-Q | May 7, 2025 | $21.5B | -0.7% | 7.7% | $1.2B | $2.3B |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- AMZN — 11% of its revenue · Stated in 10-K (sentence) · source
- ALGN · Stated in 10-K (named, share not stated) · source
- NRIX · Stated in 10-K (named, share not stated) · source
- PEW · Stated in 10-K (named, share not stated) · source
Buys from
About United Parcel Service
UPS, founded in 1907, is a global package delivery and logistics provider. We offer a broad range of industry-leading products and services through our extensive global presence, serving over 200 countries and territories. Our services include transportation and delivery through our integrated air and ground network, distribution, contract logistics, ocean freight, airfreight, customs brokerage and insurance. In 2025, we delivered an average of 20.8 million packages per day, totaling 5.2 billion packages during the year. Total revenue in 2025 was $88.7 billion.
In its own words, from its 10-K, filed Feb 17, 2026.
United Parcel Service against its Trucking & Courier Services (No Air) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +17%. Operating margin: 7.6% against the peers' median -7.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| UPS United Parcel Service | Q3 2026 | $22.9B | +7% | 7.6% |
| TOPP Toppoint Holdings | Q2 2026 | $4.6M | +17% | -7.3% |
| ETS Elite Express Holding | Q3 FY26 | $766K | +21% | -120.2% |
Source: United Parcel Service 10-Q on SEC EDGAR · CIK 1090727 · Trucking & Courier Services (No Air)
Guidance and outlook
13F: who owns UPS and who is buying
More on UPS
- How United Parcel Service makes money: revenue by segment
- United Parcel Service stock forecast, price target and fair value
- Who owns United Parcel Service stock: holders, funds and Congress trades
- United Parcel Service guidance and outlook
- Is United Parcel Service a takeover target? LBO and rumors
- United Parcel Service recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results