Filing Flows › United Parcel Service (UPS) › Q4 2025
United Parcel Service (UPS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
United Parcel Service (UPS) reported revenue of $24.5B for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +14% from the quarter before. Operating margin was 10.5%, net earnings $1.8B (7.3% of revenue).
United Parcel Service, Q4 2025: revenue $24.5B (-3% year over year), operating margin 10.5%, net earnings $1.8B, operating cash flow $3.3B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.5B | +14% | -3% |
| Operating profit | $2.6B | +43% | -12% |
| Net earnings | $1.8B | +37% | +4% |
| Operating cash flow | $3.3B | +33% | -0.4% |
| Free cash flow | $2.6B | +71% | +17% |
What changed
Revenue was $24.5B in Q4 2025, down 3% year over year and up 14% from the previous quarter.
Operating profit was $2.6B, a 10.5% margin (down 1.0 points year over year). Total costs fell 2% while revenue fell 3%. Net earnings were $1.8B, up 4% year over year. The effective tax rate was 24.5%.
Operating cash flow was $3.3B (roughly flat year over year), 184% of net earnings. Non-cash charges added back $0.70B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.78B. Capital expenditures of $0.72B left free cash flow of $2.6B.
Questions
What was United Parcel Service's revenue in the fourth quarter 2025?
United Parcel Service (UPS) reported revenue of $24.5B for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +14% from the quarter before.
Was United Parcel Service profitable in the fourth quarter 2025?
Operating profit was $2.6B (10.5% of revenue) and net earnings $1.8B.