United Parcel Service (LTS:0R08) Beneish M-Score: -2.58 (As of Jun. 26, 2026)


LTS:0R08 United Parcel Service Inc LTS:0R08
74 GF Score
Price $108.41
GF Value $126.98
Valuation Modestly Undervalued
! 9 Warning Signs
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What is United Parcel Service Beneish M-Score?

United Parcel Service LTS:0R08 +3.30% 74 Beneish M-Score is -2.58 as of Jun. 26, 2026. GuruFocus rates LTS:0R08 with a GF Score™ of 74/100 and a GF Value™ of $126.98 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 966 Transportation companies, United Parcel Service ranks worse than 51.14% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for United Parcel Service's Beneish M-Score or its related term are showing as below:

LTS:0R08' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18   Med: -2.71   Max: -2
Current: -2.58

During the past 13 years, the highest Beneish M-Score of United Parcel Service was -2.00. The lowest was -3.18. And the median was -2.71.

United Parcel Service Beneish M-Score Historical Data

* Premium members only.

The historical data trend for United Parcel Service's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

United Parcel Service Beneish M-Score Chart

United Parcel Service Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.82 -2.64 -2.79 -2.79 -2.58

United Parcel Service Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.50 -2.28 -2.41 -2.58 0.00

LTS:0R08 vs FDX, JBHT, FDXFw: Beneish M-Score Comparison

For the Integrated Freight & Logistics subindustry, United Parcel Service's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

United Parcel Service Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, United Parcel Service's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where United Parcel Service's Beneish M-Score falls into.


LTS:0R08
74GF Score
United Parcel Service Inc LTS:0R08
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

United Parcel Service Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of United Parcel Service for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.0591+0.528 * 0.9933+0.404 * 1.2249+0.892 * 0.9735+0.115 * 0.9806
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.043672-0.327 * 1.0391
=-2.58

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $11,209 Mil.
Revenue was $88,661 Mil.
Gross Profit was $16,030 Mil.
Total Current Assets was $19,045 Mil.
Total Assets was $73,090 Mil.
Property, Plant and Equipment(Net PPE) was $41,994 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,746 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $15,620 Mil.
Long-Term Debt & Capital Lease Obligation was $27,219 Mil.
Net Income was $5,572 Mil.
Gross Profit was $314 Mil.
Cash Flow from Operations was $8,450 Mil.
 Total Receivables was $10,871 Mil.
Revenue was $91,070 Mil.
Gross Profit was $16,356 Mil.
Total Current Assets was $19,310 Mil.
Total Assets was $70,070 Mil.
Property, Plant and Equipment(Net PPE) was $41,328 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,609 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $16,441 Mil.
Long-Term Debt & Capital Lease Obligation was $23,081 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(11209 / 88661) / (10871 / 91070)
=0.126425 / 0.11937
=1.0591

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(16356 / 91070) / (16030 / 88661)
=0.179598 / 0.180801
=0.9933

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (19045 + 41994) / 73090) / (1 - (19310 + 41328) / 70070)
=0.164879 / 0.134608
=1.2249

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=88661 / 91070
=0.9735

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(3609 / (3609 + 41328)) / (3746 / (3746 + 41994))
=0.080312 / 0.081898
=0.9806

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 88661) / (0 / 91070)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((27219 + 15620) / 73090) / ((23081 + 16441) / 70070)
=0.586113 / 0.564036
=1.0391

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(5572 - 314 - 8450) / 73090
=-0.043672

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

United Parcel Service has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.58 mean?
United Parcel Service (LTS:0R08) has a Beneish M-Score of -2.58 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Parcel Service and its competitors. According to the industry distribution chart, United Parcel Service ranks #494 out of 966 companies in the Transportation industry, placing it in the top 51.1%.
Is United Parcel Service's Beneish M-Score too high?
United Parcel Service's current Beneish M-Score is -2.58. Based on the distribution chart, United Parcel Service ranks #494 out of 966 companies in the Transportation industry, which is below the industry midpoint. Overall, United Parcel Service has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does United Parcel Service's Beneish M-Score compare to FDX and JBHT?
According to the Transportation industry distribution chart, United Parcel Service ranks #494 out of 966 companies for Beneish M-Score. This places United Parcel Service in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Transportation company?
A good Beneish M-Score depends on the Transportation industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Parcel Service and its competitors. United Parcel Service's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Parcel Service stock overvalued right now?
Based on GuruFocus' analysis, United Parcel Service (LTS:0R08) is currently considered Modestly Undervalued. The stock's GF Value™ is $126.98, compared to a current price of $108.41 — trading 14.6% below its estimated fair value. The current Beneish M-Score is -2.58. United Parcel Service's overall GF Score™ is 74/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For United Parcel Service (LTS:0R08), the current Beneish M-Score is -2.58 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is United Parcel Service (LTS:0R08) Overvalued in 2026?

Based on GuruFocus' analysis, United Parcel Service stock appears to be undervalued. The current stock price of $108.41 is trading 14.6% below its estimated GF Value™ of $126.98. GuruFocus considers United Parcel Service to be Modestly Undervalued.

Key valuation signals for LTS:0R08:

  • Beneish M-Score: -2.58
  • GF Value™: $126.98 vs. price of $108.41 (14.6% below fair value)
  • GF Score™: 74/100 with 9 warning signs

No single metric tells the full story. See the LTS:0R08 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

United Parcel Service Business Description

Address 55 Glenlake Parkway, N.E. Atlanta, Atlanta, GA, USA, 30328
As the world's largest parcel delivery company, UPS manages a massive fleet of more than 500 planes and 100,000 vehicles, along with many hundreds of sorting facilities, to deliver an average of about 22 million packages per day to residences and businesses across the globe. UPS' domestic US package operations generate around 65% of total revenue, while international package makes up 20%. Air and ocean freight forwarding and contract logistics make up the remainder.
74GF Score

Get the complete analysis for LTS:0R08

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$108.41
Price
$126.98
GF Value