Union Pacific Corporation

UNPNYSE

$296.11

Last price · USD

Market cap: $175.7B
P/E: 24.7x
EV / EBITDA: 15.9x
P/S: 7.2x
FCF yield: 3.1%
Div. yield: 1.84%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Union Pacific Corporation key metrics & ratios

Annual · USD millions except per-share data · 36 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Growth (year over year)
Revenue growth	1.1%	0.5%	-3.0%	14.1%	—	—
Operating income growth	1.3%	6.9%	-8.4%	6.2%	—	—
Net income growth	5.8%	5.8%	-8.8%	7.3%	—	—
EPS (diluted) growth	7.9%	6.1%	-6.8%	12.7%	—	—
Free cash flow growth	-6.7%	23.5%	-16.9%	-5.8%	—	—
Margins
Gross margin	59.4%	45.5%	43.7%	45.0%	48.2%	—
Operating margin	40.1%	40.1%	37.7%	39.9%	42.8%	—
EBITDA margin	52.8%	51.4%	49.3%	50.6%	54.3%	—
Net margin	29.1%	27.8%	26.4%	28.1%	29.9%	—
FCF margin	22.4%	24.3%	19.8%	23.1%	28.0%	—
Returns on capital
Return on equity	38.7%	39.9%	43.1%	57.5%	46.1%	—
Return on assets	10.2%	10.0%	9.5%	10.7%	10.3%	—
Return on invested capital	15.6%	15.4%	14.7%	16.6%	16.1%	—
Leverage & liquidity
Debt / equity	1.72x	1.92x	2.31x	2.87x	2.22x	—
Net debt / EBITDA	2.36x	2.52x	2.79x	2.70x	2.58x	—
Current ratio	0.91x	0.77x	0.81x	0.72x	0.62x	—
Interest coverage	7.52x	7.65x	6.78x	7.80x	8.07x	—
Profitability & operating
EBIT	10,475	10,063	9,573	10,343	9,635	+2.1%
EBITDA	12,940	12,461	11,891	12,589	11,843	+2.2%
Operating income	9,839	9,713	9,082	9,917	9,338	+1.3%
Income before tax	9,166	8,794	8,233	9,072	8,478	+2.0%
Net income	7,138	6,747	6,379	6,998	6,523	+2.3%
Earnings per share
EPS (basic)	$12.01	$11.10	$10.47	$11.24	$9.98	+4.7%
EPS (diluted)	$11.97	$11.09	$10.45	$11.21	$9.95	+4.7%
Share count (millions)
Weighted avg shares outstanding	593	608	609	623	654	-2.4%
Weighted avg shares outstanding (diluted)	594	609	610	624	655	-2.4%
Balance sheet highlights
Net debt	30,539	31,447	33,124	33,984	30,528	0.0%
Total debt	31,814	32,463	34,179	34,957	31,488	+0.3%
Total investments	3,204	2,684	2,621	2,421	2,287	+8.8%
Total stockholders' equity	18,467	16,890	14,788	12,163	14,161	+6.9%
Total assets	69,698	67,715	67,132	65,449	63,525	+2.3%
Cash flow highlights
Free cash flow	5,499	5,894	4,773	5,742	6,096	-2.5%
Operating cash flow	9,290	9,346	8,379	9,362	9,032	+0.7%
Capital expenditure	(3,791)	(3,452)	(3,606)	(3,620)	(2,936)	—
Net cash from operating activities	9,290	9,346	8,379	9,362	9,032	+0.7%
Additional fields
Accrued Expenses	738	691	696	621	517	+9.3%

Union Pacific Corporation

UNPNYSE

$296.11

Last price · USD

Market cap: $175.7B
P/E: 24.7x
EV / EBITDA: 15.9x
P/S: 7.2x
FCF yield: 3.1%
Div. yield: 1.84%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Union Pacific Corporation key metrics & ratios

Annual · USD millions except per-share data · 36 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Growth (year over year)
Revenue growth	1.1%	0.5%	-3.0%	14.1%	—	—
Operating income growth	1.3%	6.9%	-8.4%	6.2%	—	—
Net income growth	5.8%	5.8%	-8.8%	7.3%	—	—
EPS (diluted) growth	7.9%	6.1%	-6.8%	12.7%	—	—
Free cash flow growth	-6.7%	23.5%	-16.9%	-5.8%	—	—
Margins
Gross margin	59.4%	45.5%	43.7%	45.0%	48.2%	—
Operating margin	40.1%	40.1%	37.7%	39.9%	42.8%	—
EBITDA margin	52.8%	51.4%	49.3%	50.6%	54.3%	—
Net margin	29.1%	27.8%	26.4%	28.1%	29.9%	—
FCF margin	22.4%	24.3%	19.8%	23.1%	28.0%	—
Returns on capital
Return on equity	38.7%	39.9%	43.1%	57.5%	46.1%	—
Return on assets	10.2%	10.0%	9.5%	10.7%	10.3%	—
Return on invested capital	15.6%	15.4%	14.7%	16.6%	16.1%	—
Leverage & liquidity
Debt / equity	1.72x	1.92x	2.31x	2.87x	2.22x	—
Net debt / EBITDA	2.36x	2.52x	2.79x	2.70x	2.58x	—
Current ratio	0.91x	0.77x	0.81x	0.72x	0.62x	—
Interest coverage	7.52x	7.65x	6.78x	7.80x	8.07x	—
Profitability & operating
EBIT	10,475	10,063	9,573	10,343	9,635	+2.1%
EBITDA	12,940	12,461	11,891	12,589	11,843	+2.2%
Operating income	9,839	9,713	9,082	9,917	9,338	+1.3%
Income before tax	9,166	8,794	8,233	9,072	8,478	+2.0%
Net income	7,138	6,747	6,379	6,998	6,523	+2.3%
Earnings per share
EPS (basic)	$12.01	$11.10	$10.47	$11.24	$9.98	+4.7%
EPS (diluted)	$11.97	$11.09	$10.45	$11.21	$9.95	+4.7%
Share count (millions)
Weighted avg shares outstanding	593	608	609	623	654	-2.4%
Weighted avg shares outstanding (diluted)	594	609	610	624	655	-2.4%
Balance sheet highlights
Net debt	30,539	31,447	33,124	33,984	30,528	0.0%
Total debt	31,814	32,463	34,179	34,957	31,488	+0.3%
Total investments	3,204	2,684	2,621	2,421	2,287	+8.8%
Total stockholders' equity	18,467	16,890	14,788	12,163	14,161	+6.9%
Total assets	69,698	67,715	67,132	65,449	63,525	+2.3%
Cash flow highlights
Free cash flow	5,499	5,894	4,773	5,742	6,096	-2.5%
Operating cash flow	9,290	9,346	8,379	9,362	9,032	+0.7%
Capital expenditure	(3,791)	(3,452)	(3,606)	(3,620)	(2,936)	—
Net cash from operating activities	9,290	9,346	8,379	9,362	9,032	+0.7%
Additional fields
Accrued Expenses	738	691	696	621	517	+9.3%