Question 1

What is United Parcel Service's P/B ratio?

Accepted Answer

United Parcel Service (UPS) P/B ratio is 6.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for United Parcel Service?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For United Parcel Service specifically, the relevant sector benchmark is the current sector median of 4.6×.

Question 5

Is United Parcel Service's P/B ratio high or low?

Accepted Answer

United Parcel Service's P/B ratio of 6.2× is below its own 5-year average of 8.3× and above the sector median of 4.6×. That places the current reading at the 29th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is United Parcel Service's historical P/B ratio range?

Accepted Answer

In the available daily series, United Parcel Service (UPS) P/B ratio has ranged from a low of 4.4× in 2025 to a high of 248.0× in 2016. The 5-year average is 8.3× and the 5-year median is 7.5×.

Question 7

What was United Parcel Service's P/B ratio in 2025?

Accepted Answer

United Parcel Service (UPS) P/B ratio at the end of 2025 was 5.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does United Parcel Service's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$84.2B	$16.2B	5.2×	-1.3×	Dec 31, 2025
2024	$108B	$16.7B	6.4×	-1.3×	Dec 31, 2024
2023	$135B	$17.3B	7.8×	+0.2×	Dec 31, 2023
2022	$151B	$19.8B	7.6×	-5.5×	Dec 31, 2022
2021	$188B	$14.3B	13.2×	-210.0×	Dec 31, 2021
2020	$147B	$657M	223.2×	+192.3×	Dec 31, 2020
2019	$101B	$3.27B	30.9×	+3.0×	Dec 31, 2019
2018	$84.4B	$3.02B	27.9×	-76.0×	Dec 31, 2018
2017	$103B	$994M	103.9×	-144.0×	Dec 31, 2017
2016	$100B	$405M	248.0×	+213.2×	Dec 31, 2016
2015	$85.9B	$2.47B	34.8×	-12.4×	Dec 31, 2015
2014	$101B	$2.14B	47.1×	+32.1×	Dec 31, 2014
2013	$97.5B	$6.47B	15.1×	-0.1×	Dec 31, 2013
2012	$70.4B	$4.65B	15.1×	+5.1×	Dec 31, 2012
2011	$70.4B	$7.04B	10.0×	+1.0×	Dec 31, 2011
2010	$72B	$7.98B	9.0×	+1.5×	Dec 31, 2010
2009	$57.1B	$7.63B	7.5×	-0.6×	Dec 31, 2009
2008	$55B	$6.78B	8.1×	+2.1×	Dec 31, 2008
2007	$73.6B	$12.2B	6.0×	+0.9×	Dec 31, 2007
2006	$80B	$15.5B	5.2×	+0.3×	Dec 31, 2006
2005	$82.3B	$16.9B	4.9×	-1.0×	Dec 31, 2005
2004	$96.6B	$16.4B	5.9×	+0.2×	Dec 31, 2004
2003	$83.9B	$14.9B	5.7×	-0.1×	Dec 31, 2003
2002	$71.1B	$12.5B	5.7×	—	Dec 31, 2002


Thomson Reuters (TRI)	3.3×
Snap-on (SNA)	3.2×
Ingersoll Rand (IR)	3.1×
PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Delta Air Lines (DAL)	2.8×
United Airlines Holdings (UAL)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.6×
Upwork (UPWK)	2.5×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Serve Robotics (SERV)	2.0×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Andersons (ANDE)	1.9×
Archer Aviation (ACHR)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
Redwire (RDW)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×

P/B Ratio for United Parcel Service (UPS) 2002-2026

P/B Ratio daily chart for United Parcel Service (UPS)

Historical P/B Ratio for United Parcel Service (UPS) from 2002 to 2025

About P/B Ratio at United Parcel Service (UPS)

United Parcel Service P/B Ratio by Year

United Parcel Service P/B Ratio 2025: 5.2×

United Parcel Service P/B Ratio 2024: 6.4×

United Parcel Service P/B Ratio 2023: 7.8×

United Parcel Service P/B Ratio 2022: 7.6×

United Parcel Service P/B Ratio 2021: 13.2×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

United Parcel Service (UPS) Key Financials