Union Pacific (UNP) FY2023 results: revenue $24.1 billion, down 3.0% on the year
Union Pacific Corp. (UNP) reported revenue of $24.1 billion for fiscal 2023, the year ended 31 December 2023, down 3.0% on the year before. Net income was $6.4 billion, down 8.8%, and diluted earnings per share $10.45. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.
Revenue
$24.1 billion
-3.0% on the year
FY2016FY2023
Operating margin
37.7%
39.9% a year earlier
FY2016FY2023
Net income
$6.4 billion
-8.8% on the year
FY2016FY2023
Diluted EPS
$10.45
-6.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,379
9,362
9,032
-10.5%
Capital expenditure
3,606
3,620
2,936
-0.4%
Free cash flow
4,773
5,742
6,096
-16.9%
Free cash flow margin
19.8%
23.1%
28.0%
Cash from investing
-3,667
-3,471
-2,709
Cash from financing
-4,625
-5,887
-7,158
Depreciation
2,318
2,246
2,208
+3.2%
Share-based compensation
107
99.0
88.0
+8.1%
Buybacks
705
6,282
7,291
-88.8%
Dividends paid
3,173
3,159
2,800
+0.4%
Dividend per share
$5.20
$5.08
$4.29
+2.4%
Diluted shares, weighted
610m
624m
655m
-2.2%
Shares outstanding at period end
610m
612m
639m
-0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
14,788
12,163
14,161
+21.6%
Debt
32,579
33,326
29,729
-2.2%
Operating lease liabilities
1,245
1,300
1,429
-4.2%
Finance lease liabilities
109
n/a
n/a
Other liabilities
18,411
18,660
18,206
-1.3%
Total liabilities and equity
67,132
65,449
63,525
+2.6%
Fixed assets
57,398
56,038
54,871
+2.4%
Cash and equivalents
1,055
973
960
+8.4%
Receivables
2,073
1,891
1,722
+9.6%
Other assets
6,606
6,547
5,972
+0.9%
Total assets
67,132
65,449
63,525
+2.6%
10-K for the year ended 31 December 2023, filed 9 February 2024: the filing.