Union Pacific (UNP) Financials

Here is a concise trend analysis of Union Pacific (UNP) using the last four years of quarterly statements. Key takeaways include steady revenue and profits, strong operating cash flow, and ongoing leverage considerations.

• Operating revenue around $6.0–$6.3B per quarter signals stable demand for Union Pacific's rail network.
• Net income from continuing operations typically about $1.6–$1.9B per quarter, reflecting solid profitability.
• Cash from operations is strong, with net cash from continuing operating activities around $2.2–$2.5B per quarter in 2025.
• Shareholder returns are steady, with quarterly dividends per share around $1.30–$1.34.
• Capital expenditures run around $0.9–$1.0B per quarter, supporting asset maintenance and expansion while still allowing cash flow.
• Long-term debt sits near $30B, a common level for a large railroad with extensive infrastructure, implying ongoing interest obligations.
• Total equity remains robust (around $16.5–$17.3B), contributing to a solid balance sheet with favorable equity position.
• Financing activities frequently show substantial net cash outflows due to debt repayments and dividends, reducing cash reserves in several periods.
• Total liabilities approach half of the assets (liabilities around $50–53B vs. assets near $66–68B), indicating a leveraged balance sheet that could pressure cash flows in downturns.
• Net change in cash and equivalents can swing negative in some quarters, reflecting working-capital and financing variability.