---
title: "United Parcel Service: Business Model"
description: "United Parcel Service revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/united-parcel-service/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# United Parcel Service: Business Model & Revenue Engine

## Direct Answer

United Parcel Service reports revenue across 2 business segments in its fiscal 2025 Form 10-K. U.S.Domestic Package is the largest, with $59.5 billion of revenue (67% of the total), followed by International at $18.6 billion (21%). 76% of revenue came from the United States.

## How Does United Parcel Service Make Money?

U.S.Domestic Package supplies 67% of revenue, so United Parcel Service's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, International grew fastest (+3.4%) and U.S.Domestic Package slowest (-1.4%), so the revenue mix tilts toward International while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| U.S.Domestic Package | $59.5 billion | $60.4 billion | 67.1% | -1.4% |
| International | $18.6 billion | $18.0 billion | 21.0% | 3.4% |

![Bar chart of United Parcel Service revenue by segment for fiscal 2025: U.S.Domestic Package 67.1%, International 21.0%.](https://www.getswoopr.com/images/charts/united-parcel-service-business-model-segment-mix.webp)
*United Parcel Service revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which United Parcel Service Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| U.S.Domestic Package | $3.9 billion | 6.6% |
| International | $2.9 billion | 15.5% |

Segment operating income is the profit measure United Parcel Service reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within United Parcel Service more safely than against another company.

## Where Does United Parcel Service's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $67.4 billion | $70.4 billion | 76.1% | -4.2% |
| Outside the United States | $21.2 billion | $20.7 billion | 23.9% | 2.6% |

## What the Segment Figures Do Not Show

The rows above add up to 88% of United Parcel Service's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value United Parcel Service reported in the segment note and revenue disclosures of its Form 10-K filed February 17, 2026 (accession 0001628280-26-008432), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are United Parcel Service's business segments?

In its fiscal 2025 Form 10-K, United Parcel Service reports revenue for U.S.Domestic Package and International.

### Which part of United Parcel Service brings in the most revenue?

U.S.Domestic Package, with $59.5 billion of revenue in fiscal 2025, or 67% of the total.

### How much of United Parcel Service's revenue comes from outside the United States?

24% in fiscal 2025, by the geographic breakdown United Parcel Service reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: UNITED PARCEL SERVICE INC Form 10-K filed February 17, 2026](https://www.sec.gov/Archives/edgar/data/1090727/000162828026008432/ups-20251231.htm)
- [SEC EDGAR: UNITED PARCEL SERVICE INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1090727&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [United Parcel Service company dossier](https://www.getswoopr.com/stocks/companies/united-parcel-service/)
- [United Parcel Service financial metrics](https://www.getswoopr.com/stocks/companies/united-parcel-service/metrics/)
- [United Parcel Service financial risk indicators](https://www.getswoopr.com/stocks/companies/united-parcel-service/risks/)
- [United Parcel Service peer comparison](https://www.getswoopr.com/stocks/companies/united-parcel-service/competitors/)
- [United Parcel Service business model and revenue mix](https://www.getswoopr.com/stocks/companies/united-parcel-service/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).