Union Pacific (UNP) Financials

$221.44 -1.07 (-0.48%)

Closing price 03:59 PM Eastern

Extended Trading

$221.74 +0.30 (+0.13%)

As of 07:09 PM Eastern

Annual Income Statements for Union Pacific

This table shows Union Pacific's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	6,747	6,379	6,998	6,523	5,349	5,919	5,966	10,712	4,233	4,772
Consolidated Net Income / (Loss)	6,747	6,379	6,998	6,523	5,349	5,919	5,966	10,712	4,233	4,772
Net Income / (Loss) Continuing Operations	6,747	6,379	6,998	6,523	5,349	5,919	5,966	10,712	4,233	4,772
Total Pre-Tax Income	8,794	8,233	9,072	8,478	6,980	7,747	7,741	7,632	6,766	7,656
Total Operating Income	9,713	9,082	9,917	9,338	7,834	8,554	8,517	8,106	7,243	8,052
Total Gross Profit	18,336	12,847	13,451	16,880	15,382	16,363	11,730	16,098	15,057	10,988
Total Revenue	24,250	24,119	24,875	21,804	19,533	21,708	22,832	21,240	19,941	21,813
Operating Revenue	24,250	24,119	24,875	21,804	19,533	21,708	22,832	21,240	19,941	20,397
Total Cost of Revenue	5,914	11,272	11,424	4,924	4,151	5,345	11,102	5,142	4,884	10,825
Operating Cost of Revenue	5,914	11,272	11,424	4,924	4,151	5,345	11,102	5,142	4,884	10,825
Total Operating Expenses	8,623	3,765	3,534	7,542	7,548	7,809	3,213	7,992	7,814	2,936
Selling, General & Admin Expense	6,225	1,447	1,288	5,334	5,338	5,593	1,022	5,887	5,776	924
Depreciation Expense	2,398	2,318	2,246	2,208	2,210	2,216	2,191	2,105	2,038	2,012
Total Other Income / (Expense), net	-919	-849	-845	-860	-854	-807	-776	-474	-477	-396
Interest Expense	1,269	1,340	1,271	1,157	1,141	1,050	870	719	698	622
Other Income / (Expense), net	350	491	426	297	287	243	94	245	221	226
Income Tax Expense	2,047	1,854	2,074	1,955	1,631	1,828	1,775	-3,080	2,533	2,884
Basic Earnings per Share	$11.10	$10.47	$11.24	$9.98	$7.90	$8.41	$7.95	$13.42	$5.09	$5.51
Weighted Average Basic Shares Outstanding	607.60M	609.20M	622.70M	653.80M	677.30M	703.50M	750.90M	798.40M	832.40M	866.20M
Diluted Earnings per Share	$11.09	$10.45	$11.21	$9.95	$7.88	$8.38	$7.91	$13.36	$5.07	$5.49
Weighted Average Diluted Shares Outstanding	608.60M	610.20M	624M	655.40M	679.10M	706.10M	754.30M	801.70M	835.40M	869.40M
Weighted Average Basic & Diluted Shares Outstanding	604.29M	609.78M	611.87M	636.90M	669.83M	690.26M	750.40M	798.20M	831.60M	866.10M
Cash Dividends to Common per Share	$5.28	$5.20	$5.08	$4.29	$3.88	$3.70	$3.06	$2.48	$2.26	$2.20

This table shows Union Pacific's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	1,626	1,762	1,671	1,673	1,641	1,652	1,528	1,569	1,630	1,638	1,895
Consolidated Net Income / (Loss)	1,626	1,762	1,671	1,673	1,641	1,652	1,528	1,569	1,630	1,638	1,895
Net Income / (Loss) Continuing Operations	1,626	1,762	1,671	1,673	1,641	1,652	1,528	1,569	1,630	1,638	1,895
Total Pre-Tax Income	2,127	2,281	2,189	2,184	2,140	2,184	1,949	1,958	2,142	2,171	2,442
Total Operating Income	2,371	2,525	2,416	2,400	2,372	2,407	2,177	2,204	2,294	2,412	2,633
Total Gross Profit	4,552	4,673	4,600	4,519	4,544	-292	4,336	4,401	4,402	-189	4,793
Total Revenue	6,027	6,121	6,091	6,007	6,031	6,159	5,941	5,963	6,056	6,180	6,566
Operating Revenue	6,027	6,121	6,091	6,007	6,031	6,159	5,941	5,963	6,056	6,180	6,566
Total Cost of Revenue	1,475	1,448	1,491	1,488	1,487	6,451	1,605	1,562	1,654	6,369	1,773
Operating Cost of Revenue	1,475	1,448	1,491	1,488	1,487	6,451	1,605	1,562	1,654	6,369	1,773
Total Operating Expenses	2,181	2,148	2,184	2,119	2,172	-2,699	2,159	2,197	2,108	-2,601	2,160
Selling, General & Admin Expense	1,571	1,542	1,582	1,523	1,578	-3,288	1,579	1,620	1,536	-3,170	1,597
Depreciation Expense	610	606	602	596	594	589	580	577	572	569	563
Total Other Income / (Expense), net	-244	-244	-227	-216	-232	-223	-228	-246	-152	-241	-191
Interest Expense	322	312	314	319	324	331	334	339	336	333	315
Other Income / (Expense), net	78	68	87	103	92	108	106	93	184	92	124
Income Tax Expense	501	519	518	511	499	532	421	389	512	533	547
Basic Earnings per Share	$2.71	$2.91	$2.75	$2.75	$2.69	$2.71	$2.51	$2.58	$2.67	$2.68	$3.05
Weighted Average Basic Shares Outstanding	601M	607.60M	607.60M	609.40M	609.20M	609.20M	608.70M	608.70M	610.60M	622.70M	620.40M
Diluted Earnings per Share	$2.70	$2.91	$2.75	$2.74	$2.69	$2.70	$2.51	$2.57	$2.67	$2.66	$3.05
Weighted Average Diluted Shares Outstanding	601.90M	608.60M	608.60M	610.30M	610.20M	610.20M	609.80M	609.50M	611.50M	624M	621.50M
Weighted Average Basic & Diluted Shares Outstanding	597.48M	604.29M	606.26M	609.20M	610.12M	609.78M	609.60M	609.46M	609.70M	611.87M	614.80M
Cash Dividends to Common per Share	$1.34	-	$1.34	$1.30	$1.30	-	$1.30	$1.30	$1.30	-	$1.30

This table details how cash moves in and out of Union Pacific's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-46	87	4.00	-835	962	-472	53	-2.00	-114	-195
Net Cash From Operating Activities	9,346	8,379	9,362	9,032	8,540	8,609	8,686	7,230	7,525	7,344
Net Cash From Continuing Operating Activities	9,346	8,379	9,362	9,032	8,540	8,609	8,686	7,230	7,525	7,344
Net Income / (Loss) Continuing Operations	6,747	6,379	6,998	6,523	5,349	5,919	5,966	10,712	4,233	4,772
Consolidated Net Income / (Loss)	6,747	6,379	6,998	6,523	5,349	5,919	5,966	10,712	4,233	4,772
Depreciation Expense	2,398	2,318	2,246	2,208	2,210	2,216	2,191	2,105	2,038	2,012
Changes in Operating Assets and Liabilities, net	201	-318	118	301	1,096	494	559	-5,476	1,348	704
Net Cash From Investing Activities	-3,325	-3,667	-3,471	-2,709	-2,676	-3,435	-3,411	-3,086	-3,393	-4,476
Net Cash From Continuing Investing Activities	-3,325	-3,667	-3,471	-2,709	-2,676	-3,435	-3,411	-3,086	-3,393	-4,476
Purchase of Property, Plant & Equipment	-3,452	-3,606	-3,620	-2,936	-2,927	-3,453	-3,437	-3,238	-3,505	-4,650
Other Investing Activities, net	127	-61	149	227	97	-71	-37	14	43	-77
Net Cash From Financing Activities	-6,067	-4,625	-5,887	-7,158	-4,902	-5,646	-5,222	-4,146	-4,246	-3,063
Net Cash From Continuing Financing Activities	-6,067	-4,625	-5,887	-7,158	-4,902	-5,646	-5,222	-4,146	-4,246	-3,063
Repayment of Debt	-2,149	-2,346	-2,526	-1,268	-2,448	-1,224	-1,784	-886	-1,245	-582
Repurchase of Common Equity	-1,505	-705	-6,282	-7,291	-3,705	-5,804	-8,225	-4,013	-3,105	-3,465
Payment of Dividends	-3,213	-3,173	-3,159	-2,800	-2,626	-2,598	-2,299	-1,982	-1,879	-2,344
Issuance of Debt	800	1,599	6,080	4,201	3,877	3,980	7,086	2,735	1,983	3,328
Cash Interest Paid	1,260	1,268	1,156	1,087	1,050	1,033	728	666	652	592
Cash Income Taxes Paid	1,340	1,486	2,060	-1,658	-1,214	-1,382	1,205	2,112	1,347	2,156

This table details how cash moves in and out of Union Pacific's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	394	71	-190	204	-131	293	-62	-252	108	-297	470
Net Cash From Operating Activities	2,210	2,662	2,651	1,911	2,122	2,395	2,126	2,018	1,840	2,292	2,903
Net Cash From Continuing Operating Activities	2,210	2,707	2,606	1,911	2,122	2,395	2,126	2,018	1,840	2,292	2,903
Net Income / (Loss) Continuing Operations	1,626	1,762	1,671	1,673	1,641	1,652	1,528	1,569	1,630	1,638	1,895
Consolidated Net Income / (Loss)	1,626	1,762	1,671	1,673	1,641	1,652	1,528	1,569	1,630	1,638	1,895
Depreciation Expense	610	606	602	596	594	589	580	577	572	569	563
Changes in Operating Assets and Liabilities, net	-26	339	333	-358	-113	154	18	-128	-362	85	445
Net Cash From Investing Activities	-938	-899	-834	-790	-802	-1,017	-976	-869	-805	-912	-1,019
Net Cash From Continuing Investing Activities	-938	-899	-834	-790	-802	-1,017	-976	-869	-805	-912	-1,019
Purchase of Property, Plant & Equipment	-906	-922	-831	-902	-797	-1,024	-975	-835	-772	-930	-1,045
Other Investing Activities, net	-32	23	-3.00	112	-5.00	7.00	-1.00	-34	-33	18	146
Net Cash From Financing Activities	-878	-1,692	-2,007	-917	-1,451	-1,085	-1,212	-1,401	-927	-1,677	-1,414
Net Cash From Continuing Financing Activities	-878	-1,692	-2,007	-917	-1,451	-1,085	-1,212	-1,401	-927	-1,677	-1,414
Repayment of Debt	-350	-208	-164	-425	-1,352	-292	-401	-999	-654	-95	-725
Repurchase of Preferred Equity	-300	-	-	-	-	-	-	-	-	-	-
Repurchase of Common Equity	-1,420	-674	-731	-100	0.00	-	-	-130	-575	-785	-2,024
Payment of Dividends	-804	-810	-815	-793	-795	-793	-792	-793	-795	-797	-806
Issuance of Debt	1,996	-	-297	401	696	-	-19	521	1,097	-	2,141
Cash Interest Paid	439	186	439	172	463	155	485	174	454	176	415
Cash Income Taxes Paid	61	2,559	-73	-1,100	-46	2,641	-329	-791	-35	587	2,506

This table presents Union Pacific's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	67,715	67,132	65,449	63,525	62,398	61,673	59,147	57,806	55,718	54,600
Total Current Assets	4,021	4,148	3,952	3,551	4,214	3,459	4,163	4,006	3,596	4,130
Cash & Equivalents	1,016	1,055	973	960	1,799	831	1,273	1,275	1,277	1,391
Short-Term Investments	20	16	46	46	60	60	60	90	60	0.00
Accounts Receivable	1,894	2,073	1,891	1,722	1,505	1,595	1,755	1,493	1,258	1,356
Inventories, net	769	743	741	621	638	751	742	749	717	736
Other Current Assets	322	261	301	202	212	222	333	399	284	647
Plant, Property, & Equipment, net	58,343	57,398	56,038	54,871	54,161	53,916	52,679	51,605	50,389	48,866
Total Noncurrent Assets	5,351	5,586	5,459	5,103	4,023	4,298	2,305	2,195	1,733	1,604
Long-Term Investments	2,664	2,605	2,375	2,241	2,164	2,050	1,912	1,809	1,457	1,410
Other Noncurrent Operating Assets	2,687	2,981	3,084	2,862	1,859	2,248	393	386	276	194
Total Liabilities & Shareholders' Equity	67,715	67,132	65,449	63,525	62,398	61,673	59,147	57,806	55,718	54,600
Total Liabilities	50,825	52,344	53,286	49,364	45,440	43,545	38,724	32,950	35,786	33,898
Total Current Liabilities	5,254	5,106	5,520	5,744	4,173	4,351	4,626	3,939	3,640	3,206
Short-Term Debt	1,425	1,423	1,678	2,166	1,069	1,257	1,466	800	758	594
Accounts Payable	3,829	3,683	3,842	3,578	3,104	3,094	3,160	3,139	2,882	2,612
Total Noncurrent Liabilities	45,571	47,238	47,766	43,620	41,267	39,194	34,098	29,011	32,146	30,692
Long-Term Debt	29,767	31,156	31,648	27,563	25,660	23,943	20,925	16,144	14,249	13,607
Noncurrent Deferred & Payable Income Tax Liabilities	13,151	13,123	13,033	12,675	12,247	11,992	11,302	10,936	15,996	15,241
Other Noncurrent Operating Liabilities	2,653	2,959	3,085	3,382	3,360	3,259	1,871	1,931	1,901	1,844
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	16,890	14,788	12,163	14,161	16,958	18,128	20,423	24,856	19,932	20,702
Total Preferred & Common Equity	16,890	14,788	12,163	14,161	16,958	18,128	20,423	24,856	19,932	20,702
Total Common Equity	16,890	14,788	12,163	14,161	16,958	18,128	20,423	24,856	19,932	20,702
Common Stock	8,117	7,975	7,862	7,760	7,645	7,303	7,228	7,254	7,198	7,193
Retained Earnings	65,628	62,093	58,887	55,049	51,326	48,605	45,284	41,317	32,587	30,233
Treasury Stock	-56,132	-54,666	-54,004	-47,734	-40,420	-36,424	-30,674	-22,574	-18,581	-15,529
Accumulated Other Comprehensive Income / (Loss)	-723	-614	-582	-914	-1,593	-1,356	-1,415	-1,141	-1,272	-1,195

This table presents Union Pacific's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	68,492	67,715	67,570	67,817	67,266	67,132	66,540	66,033	65,968	65,449	65,343
Total Current Assets	4,539	4,021	4,149	4,498	4,194	4,148	3,813	3,752	4,058	3,952	4,405
Cash & Equivalents	1,411	1,016	947	1,137	925	1,055	750	830	1,079	973	1,267
Accounts Receivable	1,965	1,894	2,036	2,118	2,162	2,073	1,934	1,826	1,955	1,891	2,052
Inventories, net	747	769	775	807	770	743	770	742	728	741	794
Other Current Assets	416	322	371	416	317	261	343	354	296	301	246
Plant, Property, & Equipment, net	58,710	58,343	58,036	57,835	57,590	57,398	57,010	56,641	56,274	56,038	55,689
Total Noncurrent Assets	5,243	5,351	5,385	5,484	5,482	5,586	5,717	5,640	5,636	5,459	5,249
Long-Term Investments	2,704	2,664	2,649	2,705	2,651	2,605	2,580	2,524	2,439	2,375	2,314
Other Noncurrent Operating Assets	2,539	2,687	2,736	2,779	2,831	2,981	3,137	3,116	3,197	3,084	2,935
Total Liabilities & Shareholders' Equity	68,492	67,715	67,570	67,817	67,266	67,132	66,540	66,033	65,968	65,449	65,343
Total Liabilities	52,453	50,825	50,986	51,328	51,601	52,344	52,536	52,839	53,514	53,286	53,600
Total Current Liabilities	6,222	5,254	5,366	4,287	4,534	5,106	5,304	5,249	6,209	5,520	5,712
Short-Term Debt	2,227	1,425	1,652	727	733	1,423	1,724	1,745	2,592	1,678	1,678
Accounts Payable	3,995	3,829	3,714	3,560	3,801	3,683	3,580	3,504	3,617	3,842	4,034
Total Noncurrent Liabilities	46,231	45,571	45,620	47,041	47,067	47,238	47,232	47,590	47,305	47,766	47,888
Long-Term Debt	30,615	29,767	29,761	31,165	31,195	31,156	31,153	31,557	31,192	31,648	31,744
Noncurrent Deferred & Payable Income Tax Liabilities	13,144	13,151	13,199	13,166	13,146	13,123	13,095	13,069	13,084	13,033	12,868
Other Noncurrent Operating Liabilities	2,472	2,653	2,660	2,710	2,726	2,959	2,984	2,964	3,029	3,085	3,276
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	16,039	16,890	16,584	16,489	15,665	14,788	14,004	13,194	12,454	12,163	11,743
Total Preferred & Common Equity	16,039	16,890	16,584	16,489	15,665	14,788	14,004	13,194	12,454	12,163	11,743
Total Common Equity	16,039	16,890	16,584	16,489	15,665	14,788	14,004	13,194	12,454	12,163	11,743
Common Stock	7,858	8,117	8,080	8,032	7,996	7,975	7,948	7,910	7,881	7,862	7,837
Retained Earnings	66,450	65,628	64,677	63,820	62,940	62,093	61,235	60,500	59,724	58,887	58,047
Treasury Stock	-57,549	-56,132	-55,481	-54,757	-54,661	-54,666	-54,682	-54,699	-54,591	-54,004	-53,309
Accumulated Other Comprehensive Income / (Loss)	-720	-723	-692	-606	-610	-614	-497	-517	-560	-582	-832

This table displays calculated financial ratios and metrics derived from Union Pacific's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.54%	-3.04%	14.08%	11.63%	-10.02%	-4.92%	7.50%	6.51%	-8.58%	-9.07%
EBITDA Growth	4.79%	-5.54%	6.30%	14.64%	-6.19%	1.95%	3.31%	10.04%	-7.66%	-4.79%
EBIT Growth	5.12%	-7.44%	7.35%	18.64%	-7.68%	2.16%	3.11%	11.88%	-9.83%	-7.03%
NOPAT Growth	5.90%	-8.01%	6.47%	19.68%	-8.14%	-0.43%	-42.31%	151.08%	-9.71%	-7.65%
Net Income Growth	5.77%	-8.85%	7.28%	21.95%	-9.63%	-0.79%	-44.31%	153.06%	-11.30%	-7.88%
EPS Growth	6.12%	-6.78%	12.66%	26.27%	-5.97%	5.94%	-40.79%	163.51%	-7.65%	-4.52%
Operating Cash Flow Growth	11.54%	-10.50%	3.65%	5.76%	-0.80%	-0.89%	20.14%	-3.92%	2.46%	-0.56%
Free Cash Flow Firm Growth	24.27%	-12.21%	-0.13%	-7.74%	17.65%	1.72%	14.80%	9.09%	76.51%	-34.08%
Invested Capital Growth	1.58%	3.79%	3.57%	2.47%	-1.79%	2.07%	2.44%	20.16%	0.13%	8.36%
Revenue Q/Q Growth	-0.16%	-0.09%	1.83%	2.79%	108.73%	0.39%	-31.64%	1.35%	-0.20%	-4.15%
EBITDA Q/Q Growth	0.77%	0.26%	-0.05%	3.95%	-0.83%	-0.86%	-0.01%	2.82%	0.66%	-4.37%
EBIT Q/Q Growth	0.78%	0.12%	-0.18%	4.91%	-1.02%	-1.12%	-0.28%	3.41%	0.80%	-5.67%
NOPAT Q/Q Growth	1.77%	0.01%	-0.69%	4.81%	-0.41%	-2.01%	-48.69%	135.00%	0.16%	-5.21%
Net Income Q/Q Growth	1.66%	0.22%	-1.03%	5.35%	-0.43%	-2.49%	-48.96%	133.99%	0.64%	-6.17%
EPS Q/Q Growth	1.93%	0.38%	0.00%	6.53%	0.51%	-1.06%	-46.91%	136.46%	0.00%	-6.79%
Operating Cash Flow Q/Q Growth	2.94%	1.24%	-2.47%	-0.20%	2.42%	0.38%	5.85%	-3.03%	4.72%	-4.03%
Free Cash Flow Firm Q/Q Growth	4.40%	7.97%	3.92%	-18.16%	13.26%	3.94%	-6.38%	7.11%	18.74%	-29.65%
Invested Capital Q/Q Growth	0.00%	0.36%	1.34%	2.12%	-2.13%	-0.13%	0.76%	18.92%	-0.20%	2.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.61%	53.27%	54.07%	77.42%	78.75%	75.38%	51.38%	75.79%	75.51%	50.37%
EBITDA Margin	51.39%	49.30%	50.61%	54.32%	52.89%	50.73%	47.31%	49.23%	47.65%	47.17%
Operating Margin	40.05%	37.66%	39.87%	42.83%	40.11%	39.40%	37.30%	38.16%	36.32%	36.91%
EBIT Margin	41.50%	39.69%	41.58%	44.19%	41.58%	40.52%	37.71%	39.32%	37.43%	37.95%
Profit (Net Income) Margin	27.82%	26.45%	28.13%	29.92%	27.38%	27.27%	26.13%	50.43%	21.23%	21.88%
Tax Burden Percent	76.72%	77.48%	77.14%	76.94%	76.63%	76.40%	77.07%	140.36%	62.56%	62.33%
Interest Burden Percent	87.39%	86.00%	87.71%	87.99%	85.95%	88.06%	89.90%	91.39%	90.65%	92.49%
Effective Tax Rate	23.28%	22.52%	22.86%	23.06%	23.37%	23.60%	22.93%	-40.36%	37.44%	37.67%
Return on Invested Capital (ROIC)	16.92%	16.41%	18.49%	17.89%	15.00%	16.35%	16.79%	32.15%	14.11%	16.26%
ROIC Less NNEP Spread (ROIC-NNEP)	14.42%	14.17%	16.18%	15.20%	12.09%	13.37%	13.16%	27.03%	11.58%	13.77%
Return on Net Nonoperating Assets (RNNOA)	25.67%	30.93%	34.68%	24.03%	15.49%	14.36%	9.56%	15.68%	6.73%	6.52%
Return on Equity (ROE)	42.60%	47.34%	53.17%	41.92%	30.49%	30.71%	26.35%	47.83%	20.83%	22.78%
Cash Return on Invested Capital (CROIC)	15.35%	12.68%	14.98%	15.45%	16.81%	14.30%	14.38%	13.84%	13.97%	8.24%
Operating Return on Assets (OROA)	14.93%	14.44%	16.04%	15.30%	13.09%	14.56%	14.73%	14.71%	13.53%	15.48%
Return on Assets (ROA)	10.01%	9.62%	10.85%	10.36%	8.62%	9.80%	10.20%	18.87%	7.67%	8.92%
Return on Common Equity (ROCE)	42.60%	47.34%	53.17%	41.92%	30.49%	30.71%	26.35%	47.83%	20.83%	22.78%
Return on Equity Simple (ROE_SIMPLE)	39.95%	43.14%	57.54%	46.06%	31.54%	32.65%	29.21%	43.10%	21.24%	23.05%
Net Operating Profit after Tax (NOPAT)	7,452	7,037	7,650	7,185	6,003	6,536	6,564	11,377	4,531	5,019
NOPAT Margin	30.73%	29.18%	30.75%	32.95%	30.73%	30.11%	28.75%	53.57%	22.72%	23.01%
Net Nonoperating Expense Percent (NNEP)	2.50%	2.24%	2.31%	2.69%	2.91%	2.98%	3.63%	5.12%	2.53%	2.49%
Return On Investment Capital (ROIC_SIMPLE)	15.50%	14.86%	16.82%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	24.39%	46.73%	45.93%	22.58%	21.25%	24.62%	48.62%	24.21%	24.49%	49.63%
SG&A Expenses to Revenue	25.67%	6.00%	5.18%	24.46%	27.33%	25.76%	4.48%	27.72%	28.97%	4.24%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.56%	15.61%	14.21%	34.59%	38.64%	35.97%	14.07%	37.63%	39.19%	13.46%
Earnings before Interest and Taxes (EBIT)	10,063	9,573	10,343	9,635	8,121	8,797	8,611	8,351	7,464	8,278
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12,461	11,891	12,589	11,843	10,331	11,013	10,802	10,456	9,502	10,290
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.19	9.91	9.99	10.79	7.66	6.27	4.42	3.69	3.64	2.67
Price to Tangible Book Value (P/TBV)	8.19	9.91	9.99	10.79	7.66	6.27	4.42	3.69	3.64	2.67
Price to Revenue (P/Rev)	5.70	6.07	4.88	7.01	6.65	5.24	3.95	4.31	3.64	2.53
Price to Earnings (P/E)	20.49	22.96	17.36	23.42	24.28	19.22	15.13	8.56	17.13	11.58
Dividend Yield	2.32%	2.70%	2.57%	1.81%	2.01%	2.26%	2.50%	2.13%	2.56%	3.40%
Earnings Yield	4.88%	4.35%	5.76%	4.27%	4.12%	5.20%	6.61%	11.69%	5.84%	8.63%
Enterprise Value to Invested Capital (EV/IC)	3.73	4.01	3.60	4.41	3.85	3.37	2.77	2.73	2.64	2.08
Enterprise Value to Revenue (EV/Rev)	6.83	7.27	6.09	8.22	7.81	6.26	4.79	4.96	4.25	3.06
Enterprise Value to EBITDA (EV/EBITDA)	13.30	14.75	12.03	15.14	14.77	12.35	10.13	10.08	8.92	6.48
Enterprise Value to EBIT (EV/EBIT)	16.47	18.32	14.64	18.61	18.79	15.46	12.71	12.62	11.35	8.05
Enterprise Value to NOPAT (EV/NOPAT)	22.24	24.92	19.79	24.95	25.42	20.81	16.67	9.27	18.70	13.28
Enterprise Value to Operating Cash Flow (EV/OCF)	17.73	20.93	16.17	19.85	17.87	15.80	12.60	14.58	11.26	9.08
Enterprise Value to Free Cash Flow (EV/FCFF)	24.51	32.24	24.43	28.89	22.68	23.79	19.47	21.53	18.88	26.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.85	2.20	2.74	2.10	1.58	1.39	1.10	0.68	0.75	0.69
Long-Term Debt to Equity	1.76	2.11	2.60	1.95	1.51	1.32	1.02	0.65	0.71	0.66
Financial Leverage	1.78	2.18	2.14	1.58	1.28	1.07	0.73	0.58	0.58	0.47
Leverage Ratio	4.26	4.92	4.90	4.05	3.54	3.13	2.58	2.53	2.71	2.55
Compound Leverage Factor	3.72	4.23	4.30	3.56	3.04	2.76	2.32	2.32	2.46	2.36
Debt to Total Capital	64.87%	68.78%	73.26%	67.74%	61.18%	58.16%	52.30%	40.54%	42.95%	40.69%
Short-Term Debt to Total Capital	2.96%	3.00%	3.69%	4.94%	2.45%	2.90%	3.42%	1.91%	2.17%	1.70%
Long-Term Debt to Total Capital	61.91%	65.78%	69.57%	62.80%	58.74%	55.26%	48.87%	38.62%	40.78%	38.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	35.13%	31.22%	26.74%	32.26%	38.82%	41.84%	47.70%	59.46%	57.05%	59.31%
Debt to EBITDA	2.50	2.74	2.65	2.51	2.59	2.29	2.07	1.62	1.58	1.38
Net Debt to EBITDA	2.21	2.43	2.38	2.24	2.20	2.02	1.77	1.32	1.29	1.11
Long-Term Debt to EBITDA	2.39	2.62	2.51	2.33	2.48	2.17	1.94	1.54	1.50	1.32
Debt to NOPAT	4.19	4.63	4.36	4.14	4.45	3.86	3.41	1.49	3.31	2.83
Net Debt to NOPAT	3.69	4.11	3.91	3.69	3.78	3.41	2.92	1.21	2.70	2.27
Long-Term Debt to NOPAT	3.99	4.43	4.14	3.84	4.27	3.66	3.19	1.42	3.14	2.71
Altman Z-Score	3.82	3.79	3.50	3.87	3.61	3.48	3.33	3.52	2.83	2.67
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.77	0.81	0.72	0.62	1.01	0.80	0.90	1.02	0.99	1.29
Quick Ratio	0.56	0.62	0.53	0.47	0.81	0.57	0.67	0.73	0.71	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6,761	5,441	6,198	6,206	6,726	5,718	5,621	4,896	4,488	2,543
Operating Cash Flow to CapEx	270.74%	232.36%	258.62%	307.63%	307.42%	254.78%	257.44%	235.50%	222.90%	166.95%
Free Cash Flow to Firm to Interest Expense	5.33	4.06	4.88	5.36	5.90	5.45	6.46	6.81	6.43	4.09
Operating Cash Flow to Interest Expense	7.36	6.25	7.37	7.81	7.48	8.20	9.98	10.06	10.78	11.81
Operating Cash Flow Less CapEx to Interest Expense	4.64	3.56	4.52	5.27	5.05	4.98	6.11	5.79	5.94	4.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.36	0.39	0.35	0.31	0.36	0.39	0.37	0.36	0.41
Accounts Receivable Turnover	12.23	12.17	13.77	13.51	12.60	12.96	14.06	15.44	15.26	14.70
Inventory Turnover	7.82	15.19	16.78	7.82	5.98	7.16	14.89	7.02	6.72	14.95
Fixed Asset Turnover	0.42	0.43	0.45	0.40	0.36	0.41	0.44	0.42	0.40	0.46
Accounts Payable Turnover	1.57	3.00	3.08	1.47	1.34	1.71	3.53	1.71	1.78	3.66
Days Sales Outstanding (DSO)	29.85	29.99	26.51	27.01	28.96	28.16	25.96	23.64	23.92	24.82
Days Inventory Outstanding (DIO)	46.66	24.03	21.76	46.66	61.07	50.98	24.51	52.03	54.29	24.41
Days Payable Outstanding (DPO)	231.81	121.83	118.54	247.66	272.50	213.54	103.55	213.70	205.29	99.72
Cash Conversion Cycle (CCC)	-155.30	-67.81	-70.27	-173.98	-182.47	-134.40	-53.07	-138.03	-127.08	-50.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	44,382	43,691	42,095	40,643	39,664	40,387	39,569	38,626	32,145	32,102
Invested Capital Turnover	0.55	0.56	0.60	0.54	0.49	0.54	0.58	0.60	0.62	0.71
Increase / (Decrease) in Invested Capital	691	1,596	1,452	979	-723	818	943	6,481	43	2,476
Enterprise Value (EV)	165,743	175,390	151,418	179,274	152,585	135,998	109,436	105,411	84,731	66,672
Market Capitalization	138,251	146,487	121,486	152,792	129,879	113,739	90,290	91,641	72,518	55,272
Book Value per Share	$27.86	$24.26	$19.78	$22.03	$25.17	$26.11	$27.72	$31.58	$24.19	$24.24
Tangible Book Value per Share	$27.86	$24.26	$19.78	$22.03	$25.17	$26.11	$27.72	$31.58	$24.19	$24.24
Total Capital	48,082	47,367	45,489	43,890	43,687	43,328	42,814	41,800	34,939	34,903
Total Debt	31,192	32,579	33,326	29,729	26,729	25,200	22,391	16,944	15,007	14,201
Total Long-Term Debt	29,767	31,156	31,648	27,563	25,660	23,943	20,925	16,144	14,249	13,607
Net Debt	27,492	28,903	29,932	26,482	22,706	22,259	19,146	13,770	12,213	11,400
Capital Expenditures (CapEx)	3,452	3,606	3,620	2,936	2,778	3,379	3,374	3,070	3,376	4,399
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-844	-606	-909	-1,033	-749	-526	-330	-498	-623	127
Debt-free Net Working Capital (DFNWC)	192	465	110	-27	1,110	365	1,003	867	714	1,518
Net Working Capital (NWC)	-1,233	-958	-1,568	-2,193	41	-892	-463	67	-44	924
Net Nonoperating Expense (NNE)	705	658	652	662	654	617	598	665	298	247
Net Nonoperating Obligations (NNO)	27,492	28,903	29,932	26,482	22,706	22,259	19,146	13,770	12,213	11,400
Total Depreciation and Amortization (D&A)	2,398	2,318	2,246	2,208	2,210	2,216	2,191	2,105	2,038	2,012
Debt-free, Cash-free Net Working Capital to Revenue	-3.48%	-2.51%	-3.65%	-4.74%	-3.83%	-2.42%	-1.45%	-2.34%	-3.12%	0.58%
Debt-free Net Working Capital to Revenue	0.79%	1.93%	0.44%	-0.12%	5.68%	1.68%	4.39%	4.08%	3.58%	6.96%
Net Working Capital to Revenue	-5.08%	-3.97%	-6.30%	-10.06%	0.21%	-4.11%	-2.03%	0.32%	-0.22%	4.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$11.10	$10.47	$11.24	$9.98	$7.90	$8.41	$7.95	$13.42	$5.09	$5.51
Adjusted Weighted Average Basic Shares Outstanding	607.60M	609.20M	622.70M	653.80M	677.30M	703.50M	750.90M	798.40M	832.40M	866.20M
Adjusted Diluted Earnings per Share	$11.09	$10.45	$11.21	$9.95	$7.88	$8.38	$7.91	$13.36	$5.07	$5.49
Adjusted Weighted Average Diluted Shares Outstanding	608.60M	610.20M	624M	655.40M	679.10M	706.10M	754.30M	801.70M	835.40M	869.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$8.41	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	604.29M	609.78M	611.87M	636.90M	669.83M	690.26M	722.88M	779.31M	813.80M	846.41M
Normalized Net Operating Profit after Tax (NOPAT)	7,452	7,037	7,650	7,185	6,003	6,536	6,564	5,674	4,531	5,019
Normalized NOPAT Margin	30.73%	29.18%	30.75%	32.95%	30.73%	30.11%	28.75%	26.71%	22.72%	23.01%
Pre Tax Income Margin	36.26%	34.13%	36.47%	38.88%	35.73%	35.69%	33.90%	35.93%	33.93%	35.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.93	7.14	8.14	8.33	7.12	8.38	9.90	11.61	10.69	13.31
NOPAT to Interest Expense	5.87	5.25	6.02	6.21	5.26	6.22	7.54	15.82	6.49	8.07
EBIT Less CapEx to Interest Expense	5.21	4.45	5.29	5.79	4.68	5.16	6.02	7.34	5.86	6.24
NOPAT Less CapEx to Interest Expense	3.15	2.56	3.17	3.67	2.83	3.01	3.67	11.55	1.66	1.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	47.62%	49.74%	45.14%	42.93%	49.09%	43.89%	38.54%	18.50%	44.39%	49.12%
Augmented Payout Ratio	69.93%	60.79%	134.91%	154.70%	118.36%	141.95%	176.40%	55.97%	117.74%	121.73%

This table displays calculated financial ratios and metrics derived from Union Pacific's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.07%	-0.62%	2.52%	0.74%	-0.41%	-0.34%	-9.52%	-4.88%	3.34%	7.80%	17.97%
EBITDA Growth	0.03%	3.06%	8.45%	7.83%	0.26%	1.01%	-13.77%	-10.66%	2.38%	-0.19%	9.82%
EBIT Growth	-0.61%	3.10%	9.64%	8.97%	-0.57%	0.44%	-17.19%	-13.58%	2.23%	-0.75%	11.62%
NOPAT Growth	-0.35%	7.13%	8.06%	4.10%	4.20%	0.05%	-16.47%	-9.66%	-4.62%	-2.88%	9.47%
Net Income Growth	-0.91%	6.66%	9.36%	6.63%	0.67%	0.85%	-19.37%	-14.50%	0.00%	-4.27%	13.27%
EPS Growth	0.37%	7.78%	9.56%	6.61%	0.75%	1.50%	-17.70%	-12.29%	3.89%	0.00%	18.68%
Operating Cash Flow Growth	4.15%	11.15%	24.69%	-5.30%	15.33%	4.49%	-26.77%	4.51%	-17.71%	-9.37%	27.10%
Free Cash Flow Firm Growth	92.57%	460.57%	443.94%	109.63%	849.18%	-38.92%	-195.41%	513.54%	-115.93%	-58.89%	-88.27%
Invested Capital Growth	1.75%	1.58%	1.94%	3.19%	2.99%	3.79%	4.81%	3.72%	4.44%	3.57%	4.37%
Revenue Q/Q Growth	-1.54%	0.49%	1.40%	-0.40%	-2.08%	3.67%	-0.37%	-1.54%	-2.01%	-5.88%	4.74%
EBITDA Q/Q Growth	-4.38%	3.03%	0.19%	1.34%	-1.48%	8.42%	-0.38%	-5.77%	-0.75%	-7.44%	3.20%
EBIT Q/Q Growth	-5.55%	3.60%	0.00%	1.58%	-2.03%	10.16%	-0.61%	-7.30%	-1.04%	-9.18%	3.72%
NOPAT Q/Q Growth	-7.07%	5.76%	0.32%	1.08%	-0.10%	6.68%	-3.36%	1.17%	-4.08%	-10.93%	4.52%
Net Income Q/Q Growth	-7.72%	5.45%	-0.12%	1.95%	-0.67%	8.12%	-2.61%	-3.74%	-0.49%	-13.56%	3.27%
EPS Q/Q Growth	-7.22%	5.82%	0.37%	1.86%	-0.37%	7.57%	-2.33%	-3.75%	0.38%	-12.79%	4.10%
Operating Cash Flow Q/Q Growth	-16.98%	0.41%	38.72%	-9.94%	-11.40%	12.65%	5.35%	9.67%	-19.72%	-21.05%	50.34%
Free Cash Flow Firm Q/Q Growth	-17.15%	26.16%	116.33%	-14.84%	141.19%	177.41%	-231.86%	404.33%	-119.66%	20.91%	747.91%
Invested Capital Q/Q Growth	0.87%	0.00%	-0.31%	1.19%	0.70%	0.36%	0.91%	0.99%	1.48%	1.34%	-0.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.53%	76.34%	75.52%	75.23%	75.34%	-4.74%	72.98%	73.81%	72.69%	-3.06%	73.00%
EBITDA Margin	50.75%	52.26%	50.98%	51.59%	50.70%	50.40%	48.19%	48.20%	50.36%	49.72%	50.56%
Operating Margin	39.34%	41.25%	39.67%	39.95%	39.33%	39.08%	36.64%	36.96%	37.88%	39.03%	40.10%
EBIT Margin	40.63%	42.36%	41.09%	41.67%	40.86%	40.83%	38.43%	38.52%	40.92%	40.52%	41.99%
Profit (Net Income) Margin	26.98%	28.79%	27.43%	27.85%	27.21%	26.82%	25.72%	26.31%	26.92%	26.50%	28.86%
Tax Burden Percent	76.45%	77.25%	76.34%	76.60%	76.68%	75.64%	78.40%	80.13%	76.10%	75.45%	77.60%
Interest Burden Percent	86.85%	87.97%	87.46%	87.26%	86.85%	86.84%	85.37%	85.24%	86.44%	86.70%	88.57%
Effective Tax Rate	23.55%	22.75%	23.66%	23.40%	23.32%	24.36%	21.60%	19.87%	23.90%	24.55%	22.40%
Return on Invested Capital (ROIC)	16.43%	17.55%	16.73%	16.85%	16.76%	16.62%	16.30%	17.31%	17.28%	17.71%	18.69%
ROIC Less NNEP Spread (ROIC-NNEP)	15.78%	16.88%	16.13%	16.28%	16.15%	16.05%	15.70%	16.64%	16.89%	17.06%	18.16%
Return on Net Nonoperating Assets (RNNOA)	28.39%	30.05%	30.22%	31.81%	33.66%	35.04%	36.18%	37.80%	41.12%	36.56%	39.40%
Return on Equity (ROE)	44.82%	47.60%	46.95%	48.66%	50.42%	51.66%	52.48%	55.11%	58.41%	54.27%	58.09%
Cash Return on Invested Capital (CROIC)	15.04%	15.35%	14.73%	13.25%	13.46%	12.68%	11.85%	13.75%	13.75%	14.98%	14.67%
Operating Return on Assets (OROA)	14.51%	15.24%	14.88%	15.03%	14.78%	14.86%	14.07%	14.62%	15.78%	15.63%	16.06%
Return on Assets (ROA)	9.64%	10.35%	9.94%	10.05%	9.84%	9.76%	9.42%	9.99%	10.38%	10.22%	11.04%
Return on Common Equity (ROCE)	44.82%	47.60%	46.95%	48.66%	50.42%	51.66%	52.48%	55.11%	58.41%	54.27%	58.09%
Return on Equity Simple (ROE_SIMPLE)	41.97%	0.00%	40.02%	39.38%	40.79%	0.00%	45.45%	51.02%	56.19%	0.00%	60.21%
Net Operating Profit after Tax (NOPAT)	1,813	1,950	1,844	1,838	1,819	1,821	1,707	1,766	1,746	1,820	2,043
NOPAT Margin	30.07%	31.87%	30.28%	30.61%	30.16%	29.56%	28.73%	29.62%	28.83%	29.45%	31.12%
Net Nonoperating Expense Percent (NNEP)	0.65%	0.67%	0.60%	0.57%	0.61%	0.57%	0.60%	0.67%	0.39%	0.64%	0.53%
Return On Investment Capital (ROIC_SIMPLE)	3.71%	4.06%	-	-	-	3.84%	-	-	-	4.00%	-
Cost of Revenue to Revenue	24.47%	23.66%	24.48%	24.77%	24.66%	104.74%	27.02%	26.19%	27.31%	103.06%	27.00%
SG&A Expenses to Revenue	26.07%	25.19%	25.97%	25.35%	26.16%	-53.39%	26.58%	27.17%	25.36%	-51.29%	24.32%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.19%	35.09%	35.86%	35.28%	36.01%	-43.82%	36.34%	36.84%	34.81%	-42.09%	32.90%
Earnings before Interest and Taxes (EBIT)	2,449	2,593	2,503	2,503	2,464	2,515	2,283	2,297	2,478	2,504	2,757
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,059	3,199	3,105	3,099	3,058	3,104	2,863	2,874	3,050	3,073	3,320
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.90	8.19	9.05	8.37	9.52	9.91	8.67	9.25	9.61	9.99	9.94
Price to Tangible Book Value (P/TBV)	8.90	8.19	9.05	8.37	9.52	9.91	8.67	9.25	9.61	9.99	9.94
Price to Revenue (P/Rev)	5.89	5.70	6.18	5.72	6.19	6.07	5.03	4.93	4.77	4.88	4.78
Price to Earnings (P/E)	21.21	20.49	22.62	21.26	23.33	22.96	19.08	18.12	17.09	17.36	16.50
Dividend Yield	2.25%	2.32%	2.13%	2.30%	2.13%	2.70%	2.61%	2.60%	2.66%	2.57%	2.65%
Earnings Yield	4.72%	4.88%	4.42%	4.70%	4.29%	4.35%	5.24%	5.52%	5.85%	5.76%	6.06%
Enterprise Value to Invested Capital (EV/IC)	3.83	3.73	4.01	3.73	4.03	4.01	3.47	3.52	3.51	3.60	3.53
Enterprise Value to Revenue (EV/Rev)	7.07	6.83	7.33	6.88	7.36	7.27	6.25	6.14	5.98	6.09	6.00
Enterprise Value to EBITDA (EV/EBITDA)	13.76	13.30	14.39	13.70	14.91	14.75	12.73	12.34	11.84	12.03	11.63
Enterprise Value to EBIT (EV/EBIT)	17.07	16.47	17.82	17.01	18.56	18.32	15.79	15.14	14.42	14.64	14.13
Enterprise Value to NOPAT (EV/NOPAT)	23.03	22.24	24.30	23.12	24.95	24.92	21.46	20.61	19.81	19.79	19.01
Enterprise Value to Operating Cash Flow (EV/OCF)	18.18	17.73	19.60	19.42	20.48	20.93	18.24	16.79	16.72	16.17	15.26
Enterprise Value to Free Cash Flow (EV/FCFF)	25.68	24.51	27.48	28.60	30.41	32.24	29.96	26.08	26.08	24.43	24.56
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.05	1.85	1.89	1.93	2.04	2.20	2.35	2.52	2.71	2.74	2.85
Long-Term Debt to Equity	1.91	1.76	1.79	1.89	1.99	2.11	2.22	2.39	2.50	2.60	2.70
Financial Leverage	1.80	1.78	1.87	1.95	2.08	2.18	2.30	2.27	2.43	2.14	2.17
Leverage Ratio	4.28	4.26	4.38	4.51	4.74	4.92	5.12	5.04	5.34	4.90	4.98
Compound Leverage Factor	3.72	3.74	3.83	3.93	4.12	4.27	4.37	4.29	4.62	4.25	4.41
Debt to Total Capital	67.19%	64.87%	65.45%	65.92%	67.09%	68.78%	70.13%	71.62%	73.07%	73.26%	74.00%
Short-Term Debt to Total Capital	4.56%	2.96%	3.44%	1.50%	1.54%	3.00%	3.68%	3.75%	5.61%	3.69%	3.72%
Long-Term Debt to Total Capital	62.63%	61.91%	62.01%	64.42%	65.55%	65.78%	66.45%	67.87%	67.46%	69.57%	70.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	32.81%	35.13%	34.55%	34.08%	32.91%	31.22%	29.87%	28.38%	26.93%	26.74%	26.00%
Debt to EBITDA	2.64	2.50	2.54	2.63	2.68	2.74	2.77	2.70	2.67	2.65	2.65
Net Debt to EBITDA	2.31	2.21	2.25	2.31	2.38	2.43	2.49	2.43	2.39	2.38	2.37
Long-Term Debt to EBITDA	2.46	2.39	2.41	2.57	2.62	2.62	2.63	2.56	2.46	2.51	2.52
Debt to NOPAT	4.41	4.19	4.29	4.44	4.49	4.63	4.67	4.52	4.47	4.36	4.34
Net Debt to NOPAT	3.86	3.69	3.80	3.90	3.98	4.11	4.20	4.06	4.00	3.91	3.87
Long-Term Debt to NOPAT	4.11	3.99	4.06	4.34	4.39	4.43	4.43	4.28	4.12	4.14	4.12
Altman Z-Score	3.43	3.45	3.57	3.41	3.52	3.44	3.12	3.13	3.07	3.11	3.04
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.73	0.77	0.77	1.05	0.93	0.81	0.72	0.71	0.65	0.72	0.77
Quick Ratio	0.54	0.56	0.56	0.76	0.69	0.62	0.51	0.51	0.49	0.53	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,044	1,259	998	461	542	225	-290	220	-72	368	304
Operating Cash Flow to CapEx	243.93%	288.72%	319.01%	211.86%	266.25%	233.89%	218.05%	241.68%	238.34%	246.45%	277.80%
Free Cash Flow to Firm to Interest Expense	3.24	4.04	3.18	1.45	1.67	0.68	-0.87	0.65	-0.22	1.10	0.97
Operating Cash Flow to Interest Expense	6.86	8.53	8.44	5.99	6.55	7.24	6.37	5.95	5.48	6.88	9.22
Operating Cash Flow Less CapEx to Interest Expense	4.05	5.58	5.80	3.16	4.09	4.14	3.45	3.49	3.18	4.09	5.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.36	0.36	0.36	0.36	0.36	0.37	0.38	0.39	0.39	0.38
Accounts Receivable Turnover	11.75	12.23	12.24	12.24	11.70	12.17	12.11	12.77	12.81	13.77	13.09
Inventory Turnover	7.78	7.82	7.90	8.02	8.39	15.19	8.37	8.76	9.55	16.78	8.81
Fixed Asset Turnover	0.42	0.42	0.42	0.42	0.42	0.43	0.43	0.44	0.45	0.45	0.44
Accounts Payable Turnover	1.51	1.57	1.67	1.76	1.70	3.00	1.72	1.87	1.85	3.08	1.76
Days Sales Outstanding (DSO)	31.06	29.85	29.83	29.82	31.18	29.99	30.13	28.58	28.48	26.51	27.87
Days Inventory Outstanding (DIO)	46.91	46.66	46.23	45.50	43.48	24.03	43.61	41.65	38.22	21.76	41.45
Days Payable Outstanding (DPO)	241.07	231.81	218.26	207.50	215.33	121.83	212.31	194.98	197.67	118.54	207.80
Cash Conversion Cycle (CCC)	-163.09	-155.30	-142.20	-132.18	-140.66	-67.81	-138.56	-124.75	-130.96	-70.27	-138.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	44,766	44,382	44,381	44,519	43,997	43,691	43,535	43,142	42,720	42,095	41,538
Invested Capital Turnover	0.55	0.55	0.55	0.55	0.56	0.56	0.57	0.58	0.60	0.60	0.60
Increase / (Decrease) in Invested Capital	769	691	846	1,377	1,277	1,596	1,997	1,546	1,818	1,452	1,739
Enterprise Value (EV)	171,484	165,743	177,952	166,076	177,400	175,390	150,966	151,957	149,889	151,418	146,466
Market Capitalization	142,757	138,251	150,155	138,046	149,068	146,487	121,435	122,009	119,623	121,486	116,671
Book Value per Share	$26.54	$27.86	$27.22	$27.03	$25.71	$24.26	$22.98	$21.64	$20.35	$19.78	$18.80
Tangible Book Value per Share	$26.54	$27.86	$27.22	$27.03	$25.71	$24.26	$22.98	$21.64	$20.35	$19.78	$18.80
Total Capital	48,881	48,082	47,997	48,381	47,593	47,367	46,881	46,496	46,238	45,489	45,165
Total Debt	32,842	31,192	31,413	31,892	31,928	32,579	32,877	33,302	33,784	33,326	33,422
Total Long-Term Debt	30,615	29,767	29,761	31,165	31,195	31,156	31,153	31,557	31,192	31,648	31,744
Net Debt	28,727	27,492	27,797	28,030	28,332	28,903	29,531	29,948	30,266	29,932	29,795
Capital Expenditures (CapEx)	906	922	831	902	797	1,024	975	835	772	930	1,045
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-867	-844	-532	-219	-552	-606	-533	-582	-638	-909	-942
Debt-free Net Working Capital (DFNWC)	544	192	435	938	393	465	233	248	441	110	371
Net Working Capital (NWC)	-1,683	-1,233	-1,217	211	-340	-958	-1,491	-1,497	-2,151	-1,568	-1,307
Net Nonoperating Expense (NNE)	187	188	173	165	178	169	179	197	116	182	148
Net Nonoperating Obligations (NNO)	28,727	27,492	27,797	28,030	28,332	28,903	29,531	29,948	30,266	29,932	29,795
Total Depreciation and Amortization (D&A)	610	606	602	596	594	589	580	577	572	569	563
Debt-free, Cash-free Net Working Capital to Revenue	-3.58%	-3.48%	-2.19%	-0.91%	-2.29%	-2.51%	-2.21%	-2.35%	-2.54%	-3.65%	-3.86%
Debt-free Net Working Capital to Revenue	2.24%	0.79%	1.79%	3.89%	1.63%	1.93%	0.97%	1.00%	1.76%	0.44%	1.52%
Net Working Capital to Revenue	-6.94%	-5.08%	-5.01%	0.87%	-1.41%	-3.97%	-6.18%	-6.04%	-8.58%	-6.30%	-5.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.71	$2.91	$2.75	$2.75	$2.69	$2.71	$2.51	$2.58	$2.67	$2.68	$3.05
Adjusted Weighted Average Basic Shares Outstanding	601M	607.60M	607.60M	609.40M	609.20M	609.20M	608.70M	608.70M	610.60M	622.70M	620.40M
Adjusted Diluted Earnings per Share	$2.70	$2.91	$2.75	$2.74	$2.69	$2.70	$2.51	$2.57	$2.67	$2.66	$3.05
Adjusted Weighted Average Diluted Shares Outstanding	601.90M	608.60M	608.60M	610.30M	610.20M	610.20M	609.80M	609.50M	611.50M	624M	621.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	597.48M	604.29M	606.26M	609.20M	610.12M	609.78M	609.60M	609.46M	609.70M	611.87M	614.80M
Normalized Net Operating Profit after Tax (NOPAT)	1,813	1,950	1,844	1,838	1,819	1,821	1,707	1,766	1,746	1,820	2,043
Normalized NOPAT Margin	30.07%	31.87%	30.28%	30.61%	30.16%	29.56%	28.73%	29.62%	28.83%	29.45%	31.12%
Pre Tax Income Margin	35.29%	37.27%	35.94%	36.36%	35.48%	35.46%	32.81%	32.84%	35.37%	35.13%	37.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.61	8.31	7.97	7.85	7.60	7.60	6.84	6.78	7.38	7.52	8.75
NOPAT to Interest Expense	5.63	6.25	5.87	5.76	5.61	5.50	5.11	5.21	5.20	5.47	6.49
EBIT Less CapEx to Interest Expense	4.79	5.36	5.32	5.02	5.15	4.50	3.92	4.31	5.08	4.73	5.43
NOPAT Less CapEx to Interest Expense	2.82	3.30	3.23	2.94	3.15	2.41	2.19	2.75	2.90	2.67	3.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	47.86%	47.62%	48.15%	48.86%	49.66%	49.74%	49.91%	47.40%	45.88%	45.14%	44.08%
Augmented Payout Ratio	91.31%	69.93%	60.68%	50.40%	51.69%	60.79%	73.32%	99.60%	98.39%	134.91%	142.26%

Frequently Asked Questions About Union Pacific's Financials

When does Union Pacific's financial year end?

According to the most recent income statement we have on file, Union Pacific's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Union Pacific's net income changed over the last 9 years?

Union Pacific's net income were at $6.75 billion at the end of 2024, a 5.8% increase from 2023, and a 41.4% increase since 2015. See Union Pacific's forecast for analyst expectations on what’s next for the company.

What is Union Pacific's operating income?

Union Pacific's total operating income in 2024 was $9.71 billion, based on the following breakdown:

Total Gross Profit: $18.34 billion
Total Operating Expenses: $8.62 billion

How has Union Pacific revenue changed over the last 9 years?

Over the last 9 years, Union Pacific's total revenue changed from $21.81 billion in 2015 to $24.25 billion in 2024, a change of 11.2%.

How much debt does Union Pacific have?

Union Pacific's total liabilities were at $50.83 billion at the end of 2024, a 2.9% decrease from 2023, and a 49.9% increase since 2015.

How much cash does Union Pacific have?

In the past 9 years, Union Pacific's cash and equivalents has ranged from $831 million in 2019 to $1.80 billion in 2020, and is currently $1.02 billion as of their latest financial filing in 2024.

How has Union Pacific's book value per share changed over the last 9 years?

Over the last 9 years, Union Pacific's book value per share changed from 24.24 in 2015 to 27.86 in 2024, a change of 14.9%.

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This page (NYSE:UNP) was last updated on 5/30/2025 by MarketBeat.com Staff

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Union Pacific (UNP) Financials

Frequently Asked Questions About Union Pacific's Financials

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Union Pacific (UNP) Financials

Annual Income Statements for Union Pacific

Quarterly Income Statements for Union Pacific

Annual Cash Flow Statements for Union Pacific

Quarterly Cash Flow Statements for Union Pacific

Annual Balance Sheets for Union Pacific

Quarterly Balance Sheets for Union Pacific

Annual Metrics And Ratios for Union Pacific

Quarterly Metrics And Ratios for Union Pacific

Frequently Asked Questions About Union Pacific's Financials

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