United Parcel Service Inc (UPS)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | 19,351,000 | 19,856,000 | 17,321,000 | 17,769,000 | 17,997,000 | 19,740,000 | 19,784,000 | 20,838,000 | 21,027,000 | 21,916,000 | 22,031,000 | 23,336,000 | 23,199,000 | 24,196,000 | 21,818,000 | 21,740,000 | 20,427,000 | 20,377,000 |
| Total stockholders’ equity | US$ in thousands | 17,306,000 | 19,168,000 | 20,019,000 | 20,038,000 | 19,786,000 | 16,968,000 | 16,289,000 | 15,416,000 | 14,253,000 | 12,041,000 | 10,805,000 | 7,147,000 | 657,000 | 5,592,000 | 4,363,000 | 3,299,000 | 3,267,000 | 5,558,000 | 4,405,000 | 3,467,000 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.97 | 0.99 | 0.88 | 1.05 | 1.10 | 1.28 | 1.39 | 1.73 | 1.95 | 3.07 | 33.53 | 4.17 | 5.32 | 7.33 | 6.68 | 3.91 | 4.64 | 5.88 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $17,306,000K
= 0.00
The debt-to-equity ratio of United Parcel Service, Inc. has shown some fluctuations over the past eight quarters. The ratio increased from 0.99 in Q4 2022 to 1.29 in Q4 2023, indicating a higher level of debt relative to equity at the end of the period. This increase suggests that the company may have taken on more debt compared to its equity position.
However, it is important to note that the ratio has not been consistently trending upwards, as there were periods of decrease such as in Q3 2023 and Q2 2023 where the ratio was 1.10 and 1.04 respectively. These declines suggest a lower reliance on debt funding or an improvement in the company's equity position during those specific quarters.
Overall, the debt-to-equity ratio for United Parcel Service, Inc. has been fluctuating within a range of 0.99 to 1.42 over the past eight quarters, indicating a varying mix of debt and equity financing in the company's capital structure.