UNION PACIFIC CORP
UNP· NYSE· Railroads, Line-Haul Operating
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 22.4%
- ROIC, 5 yr avg
- 16.1%
- Revenue, 5 yr CAGR
- +4.6%
We record prices for the companies we cover; UNP is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 595.9M
- Revenue
- $24.5B
- Free cash flow
- $5.5B
- Owner earnings
- $5.4B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 40.2%
- Net
- 29.1%
- Free cash flow
- 22.4%
- Owner earnings
- 21.9%
- Stock pay
- 0.6%
Returns
- ROIC, FY2025
- 15.6%
- ROIC, 5 yr avg
- 16.1%
- ROE, FY2025
- 38.7%
- ROE, 5 yr avg
- 45.1%
Growth (CAGR)
- Revenue, 3 yr
- -0.5%
- Revenue, 5 yr
- 4.6%
- Revenue, 9 yr
- 2.3%
- Diluted EPS, 3 yr
- 2.2%
- Diluted EPS, 5 yr
- 8.7%
- Diluted EPS, 9 yr
- 10.0%
- Free cash flow, 3 yr
- -1.4%
- Free cash flow, 5 yr
- -0.4%
- Free cash flow, 9 yr
- 3.5%
Financial health · FY2025
- Cash and investments
- $1.3B
- Total debt
- $31.8B
- Net debt
- $30.5B
- Debt/Equity
- 1.7x
- Debt/FCF
- 5.8x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 45.3%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -2.6%
Financials: ten years from the 10-Ks
Revenue
$24.5B
+2.3% a year over 9 years
FY2016FY2025
Margins
Operating40.2%Net29.1%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$5.5BOwner earnings$5.4B
Free cash flow +3.5% a year
FY2016FY2025
Diluted shares
595.9M
-28.7% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
15.6%
FY2025
FY2016FY2025
Net debt (below zero)
-$30.5B
$30.5B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $19.9B | $21.2B | $22.8B | $21.7B | $19.5B | $21.8B | $24.9B | $24.1B | $24.3B | $24.5B |
| Revenue growth | -8.6% | 6.5% | 7.5% | -4.9% | -10.0% | 11.6% | 14.1% | -3.0% | 0.5% | 1.1% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 36.3% | 38.2% | 37.3% | 39.4% | 40.1% | 42.8% | 39.9% | 37.7% | 40.1% | 40.2% |
| Net income | $4.2B | $10.7B | $6.0B | $5.9B | $5.3B | $6.5B | $7.0B | $6.4B | $6.7B | $7.1B |
| Net margin | 21.2% | 50.4% | 26.1% | 27.3% | 27.4% | 29.9% | 28.1% | 26.4% | 27.8% | 29.1% |
| Diluted EPS | $5.07 | $13.36 | $7.91 | $8.38 | $7.88 | $9.95 | $11.21 | $10.45 | $11.09 | $11.98 |
| Return on invested capital? | 13.5% | – | 15.7% | 15.3% | 14.3% | 16.6% | 17.1% | 15.2% | 15.8% | 15.6% |
| Cash | ||||||||||
| Operating cash flow | $7.5B | $7.2B | $8.7B | $8.6B | $8.5B | $9.0B | $9.4B | $8.4B | $9.3B | $9.3B |
| Capital expenditure | $3.5B | $3.2B | $3.4B | $3.5B | $2.9B | $2.9B | $3.6B | $3.6B | $3.5B | $3.8B |
| Free cash flow | $4.0B | $4.0B | $5.2B | $5.2B | $5.6B | $6.1B | $5.7B | $4.8B | $5.9B | $5.5B |
| Stock-based compensation | $82.0M | $103.0M | $96.0M | $93.0M | $73.0M | $88.0M | $99.0M | $107.0M | $118.0M | $142.0M |
| Owner earnings? | $3.9B | $3.9B | $5.2B | $5.1B | $5.5B | $6.0B | $5.6B | $4.7B | $5.8B | $5.4B |
| Free cash flow per share | $4.81 | $4.98 | $6.96 | $7.30 | $8.27 | $9.30 | $9.20 | $7.82 | $9.68 | $9.23 |
| Capital allocation | ||||||||||
| Dividends paid | $1.9B | $2.0B | $2.3B | $2.6B | $2.6B | $2.8B | $3.2B | $3.2B | $3.2B | $3.2B |
| Share repurchases | $3.1B | $4.0B | $8.2B | $5.8B | $3.7B | $7.3B | $6.3B | $705.0M | $1.5B | $2.7B |
| Diluted shares | 835.4M | 801.7M | 754.3M | 706.1M | 679.1M | 655.4M | 624.0M | 610.2M | 608.6M | 595.9M |
| Share count change? | -3.9% | -4.0% | -5.9% | -6.4% | -3.8% | -3.5% | -4.8% | -2.2% | -0.3% | -2.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $1.3B | $1.3B | $1.3B | $831.0M | $1.8B | $960.0M | $973.0M | $1.1B | $1.0B | $1.3B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $15.0B | $16.9B | $22.6B | $25.4B | $26.8B | $30.1B | $33.5B | $32.6B | $31.2B | $31.8B |
| Net debt | $13.7B | $15.7B | $21.3B | $24.6B | $25.0B | $29.2B | $32.6B | $31.5B | $30.2B | $30.5B |
| Shareholders' equity | $19.9B | $24.9B | $20.4B | $18.1B | $17.0B | $14.2B | $12.2B | $14.8B | $16.9B | $18.5B |
Latest filings
| 2026-10-22 | 10-Q | Quarterly report |
| 2026-10-22 | 8-K | Earnings release |
| 2026-07-23 | 10-Q | Quarterly report |
| 2026-07-23 | 8-K | Earnings release |
| 2026-04-23 | 10-Q | Quarterly report |
| 2026-04-23 | 8-K | Earnings release |
| 2026-03-25 | DEF 14A | Proxy statement |
| 2026-02-06 | 10-K | Annual report |
| 2026-01-27 | 8-K | Earnings release |
| 2025-10-23 | 10-Q | Quarterly report |
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