United Parcel Service (UPS) FY2011 results: revenue $53.1 billion, up 7.2% on the year
United Parcel Service Inc. (UPS) reported revenue of $53.1 billion for fiscal 2011, the year ended 31 December 2011, up 7.2% on the year before. Net income was $3.8 billion, up 14.0%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2012.
Revenue
$53.1 billion
+7.2% on the year
FY2007FY2011
Operating margin
11.4%
11.4% a year earlier
FY2007FY2011
Net income
$3.8 billion
+14.0% on the year
FY2007FY2011
Diluted EPS
$3.84
+15.3% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
53,105
49,545
45,297
+7.2%
Operating income
6,080
5,641
3,508
+7.8%
Operating margin
11.4%
11.4%
7.7%
Interest expense
348
354
445
-1.7%
Pre-tax income
5,776
5,290
3,073
+9.2%
Income tax
1,972
1,952
1,105
+1.0%
Effective tax rate
34.1%
36.9%
36.0%
Net income
3,804
3,338
1,968
+14.0%
Net margin
7.2%
6.7%
4.3%
Diluted EPS
$3.84
$3.33
$1.96
+15.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
7,073
3,835
5,285
+84.4%
Capital expenditure
2,005
1,389
1,602
+44.3%
Free cash flow
5,068
2,446
3,683
+107.2%
Free cash flow margin
9.5%
4.9%
8.1%
Cash from investing
-2,537
-654
-1,248
Cash from financing
-4,862
-1,346
-3,045
Depreciation and amortisation
1,782
1,792
1,747
-0.6%
Share-based compensation
524
519
430
+1.0%
Buybacks
2,665
817
561
+226.2%
Dividends paid
1,997
1,818
1,751
+9.8%
Diluted shares, weighted
991m
1,003m
1,004m
-1.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
7,035
7,979
7,630
-11.8%
Non-controlling interest
73.0
68.0
66.0
+7.4%
Debt
11,128
10,846
9,521
+2.6%
Other liabilities
16,465
14,704
14,666
+12.0%
Total liabilities and equity
34,701
33,597
31,883
+3.3%
Fixed assets
17,621
17,387
17,979
+1.3%
Goodwill
2,101
2,081
2,089
+1.0%
Intangible assets
585
599
596
-2.3%
Investments
1,241
711
558
+74.5%
Cash and equivalents
3,034
3,034
1,542
0.0%
Receivables
6,246
5,627
5,369
+11.0%
Inventory
345
319
281
+8.2%
Other assets
3,528
3,839
3,469
-8.1%
Total assets
34,701
33,597
31,883
+3.3%
10-K for the year ended 31 December 2011, filed 27 February 2012: the filing.