Union Pacific (UNP) FY2020 results: revenue $19.5 billion, down 10.0% on the year
Union Pacific Corp. (UNP) reported revenue of $19.5 billion for fiscal 2020, the year ended 31 December 2020, down 10.0% on the year before. Net income was $5.3 billion, down 9.6%, and diluted earnings per share $7.88. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$19.5 billion
-10.0% on the year
FY2013FY2020
Operating margin
40.1%
39.4% a year earlier
FY2013FY2020
Net income
$5.3 billion
-9.6% on the year
FY2013FY2020
Diluted EPS
$7.88
-6.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
19,533
21,708
22,832
-10.0%
Operating income
7,834
8,554
8,517
-8.4%
Operating margin
40.1%
39.4%
37.3%
Interest expense
1,141
1,050
870
+8.7%
Pre-tax income
6,980
7,747
7,741
-9.9%
Income tax
1,631
1,828
1,775
-10.8%
Effective tax rate
23.4%
23.6%
22.9%
Net income
5,349
5,919
5,966
-9.6%
Net margin
27.4%
27.3%
26.1%
Diluted EPS
$7.88
$8.38
$7.91
-6.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
8,540
8,609
8,686
-0.8%
Capital expenditure
2,927
3,453
3,437
-15.2%
Free cash flow
5,613
5,156
5,249
+8.9%
Free cash flow margin
28.7%
23.8%
23.0%
Cash from investing
-2,676
-3,435
-3,411
Cash from financing
-4,902
-5,646
-5,222
Depreciation
2,210
2,216
2,191
-0.3%
Share-based compensation
73.0
93.0
96.0
-21.5%
Buybacks
3,705
5,804
8,225
-36.2%
Dividends paid
2,626
2,598
2,299
+1.1%
Dividend per share
$3.88
$3.70
$3.06
+4.9%
Diluted shares, weighted
679m
706m
754m
-3.8%
Shares outstanding at period end
671m
692m
725m
-3.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
16,958
18,128
20,423
-6.5%
Debt
26,729
25,200
22,391
+6.1%
Operating lease liabilities
1,283
1,471
n/a
-12.8%
Finance lease liabilities
340
491
n/a
-30.8%
Other liabilities
17,088
16,383
16,333
+4.3%
Total liabilities and equity
62,398
61,673
59,147
+1.2%
Fixed assets
54,161
53,916
52,679
+0.5%
Cash and equivalents
1,799
831
1,273
+116.5%
Receivables
1,505
1,595
1,755
-5.6%
Other assets
4,933
5,331
3,440
-7.5%
Total assets
62,398
61,673
59,147
+1.2%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.