United Parcel Service (UPS) FY2021 results: revenue $97.3 billion, up 15.0% on the year
United Parcel Service Inc. (UPS) reported revenue of $97.3 billion for fiscal 2021, the year ended 31 December 2021, up 15.0% on the year before. Net income was $12.9 billion, up 859.8%, and diluted earnings per share $14.68. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$97.3 billion
+15.0% on the year
FY2014FY2021
Operating margin
13.2%
9.1% a year earlier
FY2014FY2021
Net income
$12.9 billion
+859.8% on the year
FY2014FY2021
Diluted EPS
$14.68
+853.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
15,007
10,459
8,639
+43.5%
Capital expenditure
4,194
5,412
6,380
-22.5%
Free cash flow
10,813
5,047
2,259
+114.2%
Free cash flow margin
11.1%
6.0%
3.0%
Cash from investing
-3,818
-5,283
-6,061
Cash from financing
-6,823
-4,517
-1,727
Depreciation and amortisation
2,953
2,698
2,360
+9.5%
Share-based compensation
878
796
915
+10.3%
Buybacks
500
224
1,004
+123.2%
Dividends paid
3,437
3,374
3,194
+1.9%
Dividend per share
$4.08
n/a
n/a
Diluted shares, weighted
878m
871m
869m
+0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
14,253
657
3,267
+2,069.4%
Non-controlling interest
16.0
12.0
16.0
+33.3%
Debt
21,677
24,472
25,238
-11.4%
Operating lease liabilities
3,033
2,540
2,391
+19.4%
Finance lease liabilities
279
286
317
-2.4%
Other liabilities
30,147
34,441
26,628
-12.5%
Total liabilities and equity
69,405
62,408
57,857
+11.2%
Fixed assets
33,475
32,254
30,482
+3.8%
Goodwill
3,692
3,367
3,813
+9.7%
Intangible assets
2,486
2,274
2,167
+9.3%
Investments
338
406
503
-16.7%
Trading assets
2.0
2.0
114
0.0%
Cash and equivalents
10,255
5,910
5,238
+73.5%
Receivables
12,541
10,750
9,552
+16.7%
Inventory
717
620
511
+15.6%
Other assets
5,899
6,825
5,477
-13.6%
Total assets
69,405
62,408
57,857
+11.2%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.