Question 1

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

Accepted Answer

United Parcel Service (UPS) P/B ratio is 5.9× as of June 5, 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 5.0×.

Question 5

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

Accepted Answer

United Parcel Service's P/B ratio of 5.9× is below its own 5-year average of 8.3× and above the sector median of 5.0×. That places the current reading at the 23th 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	$84.21B	$16.23B	5.2×	-1.3×	Dec 31, 2025
2024	$107.69B	$16.72B	6.4×	-1.3×	Dec 31, 2024
2023	$134.59B	$17.31B	7.8×	+0.2×	Dec 31, 2023
2022	$150.72B	$19.79B	7.6×	-5.5×	Dec 31, 2022
2021	$187.55B	$14.25B	13.2×	-210.0×	Dec 31, 2021
2020	$146.63B	$657.00M	223.2×	+192.3×	Dec 31, 2020
2019	$101.02B	$3.27B	30.9×	+3.0×	Dec 31, 2019
2018	$84.36B	$3.02B	27.9×	-76.0×	Dec 31, 2018
2017	$103.30B	$994.00M	103.9×	-144.0×	Dec 31, 2017
2016	$100.42B	$405.00M	248.0×	+213.2×	Dec 31, 2016
2015	$85.93B	$2.47B	34.8×	-12.4×	Dec 31, 2015
2014	$100.94B	$2.14B	47.1×	+32.1×	Dec 31, 2014
2013	$97.51B	$6.47B	15.1×	-0.1×	Dec 31, 2013
2012	$70.43B	$4.65B	15.1×	+5.1×	Dec 31, 2012
2011	$70.41B	$7.04B	10.0×	+1.0×	Dec 31, 2011
2010	$72.00B	$7.98B	9.0×	+1.5×	Dec 31, 2010
2009	$57.08B	$7.63B	7.5×	-0.6×	Dec 31, 2009
2008	$54.99B	$6.78B	8.1×	+2.1×	Dec 31, 2008
2007	$73.65B	$12.18B	6.0×	+0.9×	Dec 31, 2007
2006	$80.01B	$15.48B	5.2×	+0.3×	Dec 31, 2006
2005	$82.33B	$16.88B	4.9×	-1.0×	Dec 31, 2005
2004	$96.64B	$16.38B	5.9×	+0.2×	Dec 31, 2004
2003	$83.94B	$14.85B	5.7×	-0.1×	Dec 31, 2003
2002	$71.13B	$12.46B	5.7×	-0.3×	Dec 31, 2002
2001	$61.27B	$10.25B	6.0×	—	Dec 31, 2001


PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Fortive (FTV)	2.9×
Southwest Airlines (LUV)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.5×
Axon Enterprise (TASR)	2.4×
Builders FirstSource (BLDR)	2.3×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Delta Air Lines (DAL)	2.1×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Archer Aviation (ACHR)	1.9×
United Airlines Holdings (UAL)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
MDU Resources Group (MDU)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×
Alaska Air Group (ALK)	1.1×
Versant Media Group, Inc. Class A (VSNT)	0.7×

P/B Ratio for United Parcel Service (UPS)

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

Historical P/B Ratio for United Parcel Service (UPS) from 2001 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

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

Historical P/B Ratio for United Parcel Service (UPS) from 2001 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

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

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

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

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

United Parcel Service (UPS) Key Financials