UPS United Parcel Service margins

Relative Growth: Rel. Growth: 30

Relative Strength: Rel. Strength: 46

Relative Valuation: Rel. Valuation: 70

Relative Profitability: Rel. Profitability: 54

Gross margin

33.4%

Operating margin

7.3%

EBITDA margin

12%

Net margin

5.1%

The United Parcel Service reports a gross margin of 33.4%, an operating margin of 7.3%, an EBITDA margin of 12%, and a net margin of 5.1%. All available margins contracted year over year, led by gross margin with a decline of 2.5 percentage points.

UPS margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, United Parcel Service's margins averaged 35.96% gross, 9.06% operating, 13.31% EBITDA, and 6.48% 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 gross margin with a decline of 2.5 percentage points.

Gross margin expansion

-2.5pp

Operating margin expansion

-2pp

EBITDA margin expansion

-1.1pp

Net margin expansion

-1.2pp

UPS Gross margin

Over the last 3 years, United Parcel Service recorded an average gross margin of 35.96%. The current gross margin of 33.4% is 2.6 percentage points below its three-year average. The highest gross margin for United Parcel Service was 38.4% in Sep 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 9.06%. Against its three-year average, United Parcel Service's operating margin is currently 7.3%, 1.8 percentage points below its three-year average. Looking back over the last 3 years, United Parcel Service's operating margin reached 10.6% at its highest point in Sep 2023 and 7.3% at its lowest in Jun 2026.

UPS EBITDA margin

Across the last 3 years, United Parcel Service's EBITDA margin came to 13.31%. The current EBITDA margin stands at 12%, 1.3 percentage points below its three-year average. EBITDA margin was highest at 16.2% in Sep 2023 and lowest at 12% in Jun 2026.

UPS Net margin

Looking at the last 3 years, United Parcel Service had an average net margin of 6.48%. United Parcel Service currently reports a net margin of 5.1%, 1.4 percentage points below its three-year average. Looking back over the last 3 years, United Parcel Service's net margin reached 9.2% at its highest point in Sep 2023 and 5.1% at its lowest in Jun 2026.

UPS margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 33.4%, UPS stands higher than the Industrials sector and the industry average. But when looking at the Industrials sector average of 32.9%, United Parcel Service's gross margin is only 1.5% 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 33.4% as of Jun 30, 2026.

What is United Parcel Service's operating margin?

As of Jun 30, 2026, UPS has an operating margin of 7.3%.

What is United Parcel Service's EBITDA margin?

For the period ending Jun 30, 2026, UPS recorded an EBITDA margin of 12%.

What is United Parcel Service's net margin?

The current net margin for UPS is 5.1% as of Jun 30, 2026.

What are the average margins of UPS?

United Parcel Service's average margins over the last 3 years were 36.0% gross, 9.1% operating, 13.3% EBITDA, and 6.5% 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, 7.3% operating in Jun 2026, 12% EBITDA in Jun 2026, and 5.1% net in Jun 2026.