Union Pacific (UNP) FY2018 results: revenue $22.8 billion, up 7.5% on the year
Union Pacific Corp. (UNP) reported revenue of $22.8 billion for fiscal 2018, the year ended 31 December 2018, up 7.5% on the year before. Net income was $6.0 billion, down 44.3%, and diluted earnings per share $7.91. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$22.8 billion
+7.5% on the year
FY2011FY2018
Operating margin
37.3%
38.2% a year earlier
FY2011FY2018
Net income
$6.0 billion
-44.3% on the year
FY2011FY2018
Diluted EPS
$7.91
-40.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
22,832
21,240
19,941
+7.5%
Operating income
8,517
8,106
7,243
+5.1%
Operating margin
37.3%
38.2%
36.3%
Interest expense
870
719
698
+21.0%
Pre-tax income
7,741
7,632
6,766
+1.4%
Income tax
1,775
-3,080
2,533
Effective tax rate
22.9%
-40.4%
37.4%
Net income
5,966
10,712
4,233
-44.3%
Net margin
26.1%
50.4%
21.2%
Diluted EPS
$7.91
$13.36
$5.07
-40.8%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
8,686
7,230
7,525
+20.1%
Capital expenditure
3,437
3,238
3,505
+6.1%
Free cash flow
5,249
3,992
4,020
+31.5%
Free cash flow margin
23.0%
18.8%
20.2%
Cash from investing
-3,411
-3,086
n/a
Cash from financing
-5,222
-4,146
n/a
Depreciation
2,191
2,105
2,038
+4.1%
Share-based compensation
96.0
103
82.0
-6.8%
Buybacks
8,225
4,013
3,105
+105.0%
Dividends paid
2,299
1,982
1,879
+16.0%
Dividend per share
$3.06
$2.48
$2.25
+23.4%
Diluted shares, weighted
754m
802m
835m
-5.9%
Shares outstanding at period end
725m
781m
816m
-7.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
20,423
24,856
19,932
-17.8%
Debt
22,391
16,944
15,007
+32.1%
Other liabilities
16,333
16,006
20,779
+2.0%
Total liabilities and equity
59,147
57,806
55,718
+2.3%
Fixed assets
52,679
51,605
50,389
+2.1%
Cash and equivalents
1,273
1,275
1,277
-0.2%
Receivables
1,755
1,493
1,258
+17.5%
Other assets
3,440
3,433
2,794
+0.2%
Total assets
59,147
57,806
55,718
+2.3%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.