회사 개요
United Parcel Service, Inc. is a prominent provider of package delivery and logistics services, operating primarily through its U.S. Domestic Package and International Package segments to offer time-definite transportation solutions. The company operates within the Industrials sector, specifically the Integrated Freight & Logistics industry, which encompasses the complex movement of goods across domestic and international borders. With a market capitalization of $85.35B and annual revenue reaching $88.66B, the firm demonstrates a massive operational footprint supported by a workforce of 241,250 employees. These valuation and revenue figures indicate that UPS maintains a significant position as a leading infrastructure play within the global supply chain, commanding substantial market resources to execute its logistics network.
재무 건전성
The company reported a trailing twelve-month revenue of $88.66B, generating net income of $5.57B and an EBITDA of $12.21B. The substantial gap between the $88.66B revenue and the $5.57B net income reveals a cost structure where operating expenses, including labor and fuel, consume a significant portion of gross receipts before reaching the bottom line. Free cash flow stands at $5.19B, which signifies the company's ability to generate liquidity after capital expenditures, providing financial flexibility for operational maintenance or potential strategic investments without relying on external financing. The gross margin sits at 22.6%, while the operating margin is 10.7% and the profit margin is 6.3%; these figures indicate that for every dollar of revenue, the company retains a specific fraction as operating profit and final earnings after all costs. On the balance sheet, cash holdings of $5.89B are outweighed by total debt of $28.59B, resulting in a debt-to-equity ratio of 175.88%, which suggests a leveraged capital structure rather than a conservative stance. The current ratio of 1.22 indicates that current assets exceed current liabilities by a narrow margin, pointing to manageable but tight short-term liquidity conditions relative to immediate obligations. Return on Equity is reported at 33.8% while Return on Assets is 7.4%, metrics that reveal high management effectiveness in leveraging equity to generate returns, though asset utilization efficiency remains moderate when considering the asset-heavy nature of the logistics industry.
밸류에이션 평가
The trailing twelve-month P/E ratio is 15.31, whereas the forward P/E is 12.61, implying that the market expects earnings to grow or the current multiple to compress as future earnings are anticipated to be higher than current levels. The price-to-book ratio stands at 5.26, indicating a significant market premium over the company's tangible book value, which often reflects the value of its extensive logistics network and intangible assets not fully captured on the balance sheet. Alternative valuation metrics such as the price-to-sales ratio of 0.96 and the EV/EBITDA of 8.85 provide context for revenue-based and enterprise value assessments, suggesting the stock trades at less than one dollar of sales per dollar of revenue. The 52-week trading range spans from a low of $82.00 to a high of $122.41, placing the current price context within a broad historical volatility band that reflects recent market fluctuations. With a beta of 1.10, the stock exhibits price volatility that is slightly more sensitive to movements in the broader market than the average equity, indicating a moderate level of systematic risk.
Growth & Income
Revenue growth year-over-year has contracted by -3.2%, while earnings growth year-over-year stands at 4.6%, indicating that earnings are expanding faster than revenue, likely driven by cost controls or margin expansion despite the decline in top-line sales. As a dividend payer, the company offers a dividend yield of 6.5% with a payout ratio of 100.0%, a situation where the entire net income is distributed to shareholders, which warrants close monitoring of earnings stability to ensure the dividend remains sustainable. Given the current earnings environment, the high payout ratio implies that the company is prioritizing shareholder returns alongside maintaining its dividend commitment, rather than aggressively reinvesting all earnings into internal growth initiatives. The overall growth and income profile presents a scenario of margin-driven earnings recovery combined with a high-yield income stream, balancing short-term income generation with the challenge of maintaining dividend coverage in a period of revenue contraction.