• UPS average price to free cash flow ratio for 2023 was 22.82, a 66.93% decline from 2022.
• UPS average price to free cash flow ratio for 2022 was 13.67, a 17.35% increase from 2021.
• UPS average price to free cash flow ratio for 2021 was 16.54, a 19.28% decline from 2020.

Price to free cash flow ratio can be defined as