United Parcel Service (UPS) FY2017 results: revenue $66.6 billion, up 8.1% on the year
United Parcel Service Inc. (UPS) reported revenue of $66.6 billion for fiscal 2017, the year ended 31 December 2017, up 8.1% on the year before. Net income was $4.9 billion, up 43.5%, and diluted earnings per share $5.61. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$66.6 billion
+8.1% on the year
FY2010FY2017
Operating margin
11.3%
12.5% a year earlier
FY2010FY2017
Net income
$4.9 billion
+43.5% on the year
FY2010FY2017
Diluted EPS
$5.61
+45.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
66,585
61,610
58,363
+8.1%
Operating income
7,529
7,688
7,668
-2.1%
Operating margin
11.3%
12.5%
13.1%
Interest expense
453
381
341
+18.9%
Pre-tax income
7,148
5,121
7,342
+39.6%
Income tax
2,232
1,699
2,498
+31.4%
Effective tax rate
31.2%
33.2%
34.0%
Net income
4,910
3,422
4,844
+43.5%
Net margin
7.4%
5.6%
8.3%
Diluted EPS
$5.61
$3.86
$5.35
+45.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,479
6,473
7,430
-77.2%
Capital expenditure
5,227
2,965
2,379
+76.3%
Free cash flow
-3,748
3,508
5,051
Free cash flow margin
-5.6%
5.7%
8.7%
Cash from investing
-4,975
-2,566
-5,309
Cash from financing
3,287
-3,140
-1,565
Depreciation and amortisation
2,282
2,224
2,084
+2.6%
Share-based compensation
584
591
574
-1.2%
Buybacks
1,813
2,678
2,702
-32.3%
Dividends paid
2,771
2,643
2,525
+4.8%
Diluted shares, weighted
875m
887m
906m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
994
405
2,470
+145.4%
Non-controlling interest
30.0
24.0
21.0
+25.0%
Debt
24,289
16,075
14,334
+51.1%
Other liabilities
20,261
24,041
21,486
-15.7%
Total liabilities and equity
45,574
40,545
38,311
+12.4%
Fixed assets
22,118
18,800
18,352
+17.6%
Goodwill
3,872
3,757
3,419
+3.1%
Intangible assets
1,964
1,758
1,549
+11.7%
Investments
749
1,091
1,996
-31.3%
Trading assets
168
517
1,429
-67.5%
Cash and equivalents
3,320
3,476
2,730
-4.5%
Receivables
8,773
7,695
7,134
+14.0%
Inventory
404
342
308
+18.1%
Other assets
4,206
3,109
1,394
+35.3%
Total assets
45,574
40,545
38,311
+12.4%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.