UPS United Parcel Service margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 54

Gross margin

34.3%

Operating margin

7.1%

EBITDA margin

11.8%

Net margin

4.8%

The United Parcel Service reports a gross margin of 34.3%, an operating margin of 7.1%, an EBITDA margin of 11.8%, and a net margin of 4.8%. All available margins contracted year over year, led by operating margin with a decline of 2.1 percentage points.

UPS margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, United Parcel Service's margins averaged 35.62% gross, 8.77% operating, 12.94% EBITDA, and 6.11% net. All four current margins are below their three-year averages.

UPS margin expansion

Year-over-year margin changes in percentage points

All available margins contracted year over year, led by operating margin with a decline of 2.1 percentage points.

Gross margin expansion

-0.7pp

Operating margin expansion

-2.1pp

EBITDA margin expansion

-1.2pp

Net margin expansion

-1.3pp

UPS Gross margin

Over the last 3 years, United Parcel Service recorded an average gross margin of 35.62%. The current gross margin of 34.3% is 1.3 percentage points below its three-year average. The highest gross margin for United Parcel Service was 37.6% in Dec 2023, while the lowest was 33.4% in Jun 2026.

UPS Operating margin

In the last 3 years, United Parcel Service had an average operating margin of 8.77%. Against its three-year average, United Parcel Service's operating margin is currently 7.1%, 1.7 percentage points below its three-year average. Looking back over the last 3 years, United Parcel Service's operating margin reached 10% at its highest point in Dec 2023 and 7.1% at its lowest in Sep 2026.

UPS EBITDA margin

Across the last 3 years, United Parcel Service's EBITDA margin came to 12.94%. The current EBITDA margin stands at 11.8%, 1.1 percentage points below its three-year average. EBITDA margin was highest at 14% in Dec 2023 and lowest at 11.8% in Sep 2026.

UPS Net margin

Looking at the last 3 years, United Parcel Service had an average net margin of 6.11%. United Parcel Service currently reports a net margin of 4.8%, 1.3 percentage points below its three-year average. Looking back over the last 3 years, United Parcel Service's net margin reached 7.4% at its highest point in Dec 2023 and 4.8% at its lowest in Sep 2026.

UPS margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 34.3%, UPS stands higher than the Industrials sector and the industry average. Looking at the Industrials sector average of 32.5%, United Parcel Service's gross margin is 6% higher.

UPS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is United Parcel Service's gross margin?

The current gross margin for UPS is 34.3% as of Sep 30, 2026.

What is United Parcel Service's operating margin?

As of Sep 30, 2026, UPS has an operating margin of 7.1%.

What is United Parcel Service's EBITDA margin?

For the period ending Sep 30, 2026, UPS recorded an EBITDA margin of 11.8%.

What is United Parcel Service's net margin?

The current net margin for UPS is 4.8% as of Sep 30, 2026.

What are the average margins of UPS?

United Parcel Service's average margins over the last 3 years were 35.6% gross, 8.8% operating, 12.9% EBITDA, and 6.1% net.

What are the highest historical margins of UPS?

Over the last 5 years, United Parcel Service's highest margins were 43.7% gross in Mar 2022, 13.6% operating in Sep 2022, 20.8% EBITDA in Dec 2021, and 13.2% net in Dec 2021.

What are the lowest historical margins of UPS?

Across the 5-year period, UPS posted its lowest margins at 33.4% gross in Jun 2026, 7.1% operating in Sep 2026, 11.8% EBITDA in Sep 2026, and 4.8% net in Sep 2026.