Union Pacific (UNP) Financials

$222.31 +0.04 (+0.02%)

As of 11:35 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	4,772	4,233	10,712	5,966	5,919	5,349	6,523	6,998	6,379	6,747
Consolidated Net Income / (Loss)	4,772	4,233	10,712	5,966	5,919	5,349	6,523	6,998	6,379	6,747
Net Income / (Loss) Continuing Operations	4,772	4,233	10,712	5,966	5,919	5,349	6,523	6,998	6,379	6,747
Total Pre-Tax Income	7,656	6,766	7,632	7,741	7,747	6,980	8,478	9,072	8,233	8,794
Total Operating Income	8,052	7,243	8,106	8,517	8,554	7,834	9,338	9,917	9,082	9,713
Total Gross Profit	10,988	15,057	16,098	11,730	16,363	15,382	16,880	13,451	12,847	18,336
Total Revenue	21,813	19,941	21,240	22,832	21,708	19,533	21,804	24,875	24,119	24,250
Operating Revenue	20,397	19,941	21,240	22,832	21,708	19,533	21,804	24,875	24,119	24,250
Total Cost of Revenue	10,825	4,884	5,142	11,102	5,345	4,151	4,924	11,424	11,272	5,914
Operating Cost of Revenue	10,825	4,884	5,142	11,102	5,345	4,151	4,924	11,424	11,272	5,914
Total Operating Expenses	2,936	7,814	7,992	3,213	7,809	7,548	7,542	3,534	3,765	8,623
Selling, General & Admin Expense	924	5,776	5,887	1,022	5,593	5,338	5,334	1,288	1,447	6,225
Depreciation Expense	2,012	2,038	2,105	2,191	2,216	2,210	2,208	2,246	2,318	2,398
Total Other Income / (Expense), net	-396	-477	-474	-776	-807	-854	-860	-845	-849	-919
Interest Expense	622	698	719	870	1,050	1,141	1,157	1,271	1,340	1,269
Other Income / (Expense), net	226	221	245	94	243	287	297	426	491	350
Income Tax Expense	2,884	2,533	-3,080	1,775	1,828	1,631	1,955	2,074	1,854	2,047
Basic Earnings per Share	$5.51	$5.09	$13.42	$7.95	$8.41	$7.90	$9.98	$11.24	$10.47	$11.10
Weighted Average Basic Shares Outstanding	866.20M	832.40M	798.40M	750.90M	703.50M	677.30M	653.80M	622.70M	609.20M	607.60M
Diluted Earnings per Share	$5.49	$5.07	$13.36	$7.91	$8.38	$7.88	$9.95	$11.21	$10.45	$11.09
Weighted Average Diluted Shares Outstanding	869.40M	835.40M	801.70M	754.30M	706.10M	679.10M	655.40M	624M	610.20M	608.60M
Weighted Average Basic & Diluted Shares Outstanding	866.10M	831.60M	798.20M	750.40M	690.26M	669.83M	636.90M	611.87M	609.78M	604.29M
Cash Dividends to Common per Share	$2.20	$2.26	$2.48	$3.06	$3.70	$3.88	$4.29	$5.08	$5.20	$5.28

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

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

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

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	65,343	65,449	65,968	66,033	66,540	67,132	67,266	67,817	67,570	67,715
Total Current Assets	4,405	3,952	4,058	3,752	3,813	4,148	4,194	4,498	4,149	4,021
Cash & Equivalents	1,267	973	1,079	830	750	1,055	925	1,137	947	1,016
Short-Term Investments	46	46	0.00	0.00	16	16	20	20	20	20
Accounts Receivable	2,052	1,891	1,955	1,826	1,934	2,073	2,162	2,118	2,036	1,894
Inventories, net	794	741	728	742	770	743	770	807	775	769
Other Current Assets	246	301	296	354	343	261	317	416	371	322
Plant, Property, & Equipment, net	55,689	56,038	56,274	56,641	57,010	57,398	57,590	57,835	58,036	58,343
Total Noncurrent Assets	5,249	5,459	5,636	5,640	5,717	5,586	5,482	5,484	5,385	5,351
Long-Term Investments	2,314	2,375	2,439	2,524	2,580	2,605	2,651	2,705	2,649	2,664
Other Noncurrent Operating Assets	2,935	3,084	3,197	3,116	3,137	2,981	2,831	2,779	2,736	2,687
Total Liabilities & Shareholders' Equity	65,343	65,449	65,968	66,033	66,540	67,132	67,266	67,817	67,570	67,715
Total Liabilities	53,600	53,286	53,514	52,839	52,536	52,344	51,601	51,328	50,986	50,825
Total Current Liabilities	5,712	5,520	6,209	5,249	5,304	5,106	4,534	4,287	5,366	5,254
Short-Term Debt	1,678	1,678	2,592	1,745	1,724	1,423	733	727	1,652	1,425
Accounts Payable	4,034	3,842	3,617	3,504	3,580	3,683	3,801	3,560	3,714	3,829
Total Noncurrent Liabilities	47,888	47,766	47,305	47,590	47,232	47,238	47,067	47,041	45,620	45,571
Long-Term Debt	31,744	31,648	31,192	31,557	31,153	31,156	31,195	31,165	29,761	29,767
Noncurrent Deferred & Payable Income Tax Liabilities	12,868	13,033	13,084	13,069	13,095	13,123	13,146	13,166	13,199	13,151
Other Noncurrent Operating Liabilities	3,276	3,085	3,029	2,964	2,984	2,959	2,726	2,710	2,660	2,653
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	11,743	12,163	12,454	13,194	14,004	14,788	15,665	16,489	16,584	16,890
Total Preferred & Common Equity	11,743	12,163	12,454	13,194	14,004	14,788	15,665	16,489	16,584	16,890
Total Common Equity	11,743	12,163	12,454	13,194	14,004	14,788	15,665	16,489	16,584	16,890
Common Stock	7,837	7,862	7,881	7,910	7,948	7,975	7,996	8,032	8,080	8,117
Retained Earnings	58,047	58,887	59,724	60,500	61,235	62,093	62,940	63,820	64,677	65,628
Treasury Stock	-53,309	-54,004	-54,591	-54,699	-54,682	-54,666	-54,661	-54,757	-55,481	-56,132
Accumulated Other Comprehensive Income / (Loss)	-832	-582	-560	-517	-497	-614	-610	-606	-692	-723

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

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

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

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

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?

In the past 9 years, Union Pacific's net income has ranged from $4.23 billion in 2016 to $10.71 billion in 2017, and is currently $6.75 billion as of their latest financial filing in 2024.

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 4/15/2025 by MarketBeat.com Staff

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Union Pacific (UNP) Financials

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Union Pacific (UNP) Financials

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