GXO Logistics vs United Parcel Service
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The short version
- United Parcel Service is the larger business, with $88.7B of revenue in fiscal 2025 against $13.2B for GXO Logistics, about 6.7 times as much.
- GXO Logistics grew revenue faster (12.6%, against −2.7%).
- United Parcel Service kept more of each dollar of sales as operating profit (8.9% operating margin, against 1.9%).
- United Parcel Service turned more of its sales into free cash flow (5.4% FCF margin, against 0.8%).
- United Parcel Service earned a higher return on the capital invested in it (18.4%, against 2.3%).
- Investors pay more for each dollar of GXO Logistics’s earnings: a P/E of 42.9x against 18.8x for United Parcel Service.
| Latest fiscal year | GXO · FY25 | UPS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.6B | $86.0B |
| Revenue | $13.2B | $88.7B |
| Free cash flow | $110M | $4.8B |
| Net income | $32.0M | $5.6B |
| Growth | ||
| Revenue growth | 12.6% | −2.7% |
| 5-year growth | 16.3% | 0.9% |
| Share count change | −2.9% | −0.7% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 1.9% | 8.9% |
| Net margin | 0.2% | 6.3% |
| FCF margin | 0.8% | 5.4% |
| Return on capital | 2.3% | 18.4% |
| Return on equity | 1.1% | 33.8% |
| Balance sheet | ||
| Net debt | $2.2B | $18.5B |
| Net debt / EBITDA | 3.2x | 1.7x |
| Dividends and buybacks | $200M | $6.4B |
| Valuation & quality | ||
| P/E | 42.9x | 18.8x |
| Piotroski F-score | 5 | 5 |
Revenue
FY16
GXO —
UPS $60.9B
FY17
GXO —
UPS $65.9B
FY18
GXO —
UPS $71.9B
FY19
GXO $6.1B
UPS $74.1B
FY20
GXO $6.2B
UPS $84.6B
FY21
GXO $7.9B
UPS $97.3B
FY22
GXO $9.0B
UPS $100.3B
FY23
GXO $9.8B
UPS $91.0B
FY24
GXO $11.7B
UPS $91.1B
FY25
GXO $13.2B
UPS $88.7B
GXO
UPS
Operating margin
FY16
GXO —
UPS 12.6%
FY17
GXO —
UPS 11.4%
FY18
GXO —
UPS 9.8%
FY19
GXO 2.5%
UPS 10.5%
FY20
GXO 0.3%
UPS 9.1%
FY21
GXO 1.9%
UPS 13.2%
FY22
GXO 2.7%
UPS 13.1%
FY23
GXO 3.3%
UPS 10.1%
FY24
GXO 1.9%
UPS 9.3%
FY25
GXO 1.9%
UPS 8.9%
GXO
UPS
Free cash flow
FY16
GXO —
UPS $3.5B
FY17
GXO —
UPS −$3.7B
FY18
GXO —
UPS $6.4B
FY19
GXO −$77.0M
UPS $2.3B
FY20
GXO $111M
UPS $5.0B
FY21
GXO $205M
UPS $10.8B
FY22
GXO $200M
UPS $9.3B
FY23
GXO $284M
UPS $5.1B
FY24
GXO $190M
UPS $6.2B
FY25
GXO $110M
UPS $4.8B
GXO
UPS
Return on capital
FY16
GXO —
UPS 44.9%
FY17
GXO —
UPS 32.1%
FY18
GXO —
UPS 27.2%
FY19
GXO —
UPS 28.3%
FY20
GXO —
UPS 26.6%
FY21
GXO 4.8%
UPS 44.3%
FY22
GXO 5.2%
UPS 35.3%
FY23
GXO 6.9%
UPS 21.8%
FY24
GXO 4.4%
UPS 20.1%
FY25
GXO 2.3%
UPS 18.4%
GXO
UPS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.