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Stocks / United States / UNP · Railroads, Line-Haul Operating · NYSE

Union Pacific Corp. (UNP)

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Union Pacific Corp. (UNP) reported revenue of $6.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 11.5% on the same quarter a year earlier. Net income was $2.0 billion, up 6.2% on the year, and diluted earnings per share $3.36. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue$6.9 billionup 11.5%
Net income$2.0 billionup 6.2%
Diluted EPS$3.36
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE35.5%
ROCE20.5%
Operating margin40.0%
Net margin28.8%
FCF margin25.6%
Interest cover7.92
Debt to equity1.40
Cash conversion1.40
Share count, 1 year0.2%
Sales CAGR, 3 years-0.5%
Profit CAGR, 3 years0.7%
EPS, TTM$12.36

At the close of 21 September 2026

Price$269.63
Market cap$160.1 billion
Stock P/E21.81
Price to book7.75
EV / EBITDAn/a
Dividend yield2.0%
Market cap / sales6.30
52-week high$310.62
52-week low$216.37
Price, 1 year22.2%
Price CAGR, 3 years8.8%
Price CAGR, 5 years6.4%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure Union Pacific Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on UNP

Filings18 in twelve months: 9 current reports (8-K), about 4 results of operations; 2 shareholder vote; 2 regulation fd disclosure; 2 other events; 1 officer or director change
Planned insider sales4 Form 144 notices in twelve months, $9.3 million; latest 3 June 2026
Options tapeput/call 0.26 by open interest on 23 September 2026; the straddle prices a 1.9% move to 25 September 2026
Holders15 of the followed funds hold it; largest Capital Research Global Investors; 3 Schedule 13D or 13G filings in twelve months
Insider trading5 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest27.7 million shares short, 10.75 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue5,9416,1596,0316,0076,0916,1216,0276,1546,2446,0856,2176,864
Operating income2,1772,4072,3722,4002,4162,5252,3712,5252,5492,4012,4582,763
Operating margin37%39%39%40%40%41%39%41%41%39%40%40%
Interest expense334331324319314312322335327325320313
Pre-tax income1,9492,1842,1402,1842,1892,2812,1272,3132,3182,4082,2292,555
Tax rate22%24%23%23%24%23%24%19%23%23%24%22%
Net income1,5281,6521,6411,6731,6711,7621,6261,8761,7881,8481,7011,993
Net margin26%27%27%28%27%29%27%30%29%30%27%29%
Diluted EPS$2.51$2.70$2.69$2.74$2.75$2.91$2.70$3.15$3.01$3.12$2.87$3.36
Operating cash flow2,1262,3952,1221,9112,6512,6622,2102,3332,5222,2252,4403,076
Capital expenditure9751,024797902831922906936950999937873
Free cash flow1,1511,3711,3251,0091,8201,7401,3041,3971,5721,2261,5032,203
Buybacks0.00.00.01007316741,4201,2590.00.00.026.0
Dividends paid792793795793815810804795819818821819
Shares outstanding610m610m610m610m607m604m599m593m593m593m594m594m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue23,98821,81319,94121,24022,83221,70819,53321,80424,87524,11924,25024,51025,410
Operating income8,7538,0527,2438,1068,5178,5547,8349,3389,9179,0829,7139,84610,171
Operating margin36.5%36.9%36.3%38.2%37.3%39.4%40.1%42.8%39.9%37.7%40.1%40.2%40.0%
Interest expense5616226987198701,0501,1411,1571,2711,3401,2691,3091,285
Pre-tax income8,3437,6566,7667,6327,7417,7476,9808,4789,0728,2338,7949,1669,510
Income tax3,1632,8842,533-3,0801,7751,8281,6311,9552,0741,8542,0472,0282,180
Effective tax rate37.9%37.7%37.4%-40.4%22.9%23.6%23.4%23.1%22.9%22.5%23.3%22.1%22.9%
Net income5,1804,7724,23310,7125,9665,9195,3496,5236,9986,3796,7477,1387,330
Net margin21.6%21.9%21.2%50.4%26.1%27.3%27.4%29.9%28.1%26.4%27.8%29.1%28.8%
Diluted EPS$5.75$5.49$5.07$13.36$7.91$8.38$7.88$9.95$11.21$10.45$11.09$11.98$12.36
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flown/an/an/a7,2308,6868,6098,5409,0329,3628,3799,3469,29010,263
Capital expenditure4,3464,6503,5053,2383,4373,4532,9272,9363,6203,6063,4523,7913,759
Free cash flown/an/an/a3,9925,2495,1565,6136,0965,7424,7735,8945,4996,504
Free cash flow marginn/an/an/a18.8%23.0%23.8%28.7%28.0%23.1%19.8%24.3%22.4%25.6%
Share-based compensation11298.082.010396.093.073.088.099.0107118142131
Buybacks3,2253,4653,1054,0138,2255,8043,7057,2916,2827051,5052,67926.0
Dividends paid1,6322,3441,8791,9822,2992,5982,6262,8003,1593,1733,2133,2363,277
Dividend per share$1.91$2.20$2.25$2.48$3.06$3.70$3.88$4.29$5.08$5.20$5.28$5.44n/a
Diluted shares, weighted901m869m835m802m754m706m679m655m624m610m609m596m594m
Shares outstanding at period end883m849m816m781m725m692m671m639m612m610m604m593m594m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets52,37254,60055,71857,80659,14761,67362,39863,52565,44967,13267,71569,69871,211
Cash and equivalents1,5861,3911,2771,2751,2738311,7999609731,0551,0161,2661,614
Receivables1,6111,3561,2581,4931,7551,5951,5051,7221,8912,0731,8941,8602,130
Long-term debt11,41314,20115,00716,94422,39125,20026,72929,72933,32632,57931,19231,814n/a
Long-term debt including finance leases10,95213,60714,24916,14420,92523,94325,66027,56331,64831,15629,76730,29429,039
Borrowings, as the company tags themn/an/a15,90117,83123,20826,39428,26731,49235,10134,31132,88533,492n/a
Operating lease liabilitiesn/an/an/an/an/a1,4711,2831,4291,3001,245925738609
Finance lease liabilitiesn/an/an/an/an/a491340n/an/a10972.066.0n/a
Shareholders' equity21,18920,70219,93224,85620,42318,12816,95814,16112,16314,78816,89018,46720,673
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.2%4.6%-0.5%4.2%
Profit growth, compounded4.1%5.9%0.7%5.7%
Return on equity, average38.3%45.1%40.6%38.7%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Railroads, Line-Haul Operating

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Union Pacific Corp. UNP$160.1 billion21.8135.5%40.0%4.2%1.402.0%
CSX Corp. CSX$85.2 billion26.5822.9%34.2%2.5%1.221.1%
Norfolk Southern Corp. NSC$69.4 billion26.3716.2%32.2%3.0%0.981.7%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202623 July 2026EDGAR
10-Q31 March 202623 April 2026EDGAR
10-K31 December 20256 February 2026EDGAR
10-Q30 September 202523 October 2025EDGAR
10-Q30 June 202524 July 2025EDGAR
10-Q31 March 202524 April 2025EDGAR
10-K31 December 20247 February 2025EDGAR
10-Q30 September 202424 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR
10-Q31 March 202425 April 2024EDGAR

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