UNP Financials Union Pacific Corporation

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 4.6% per year over the past 5 years.
Net income has grown faster than revenue (5.9% vs 4.6% per year).
Operating margin has been roughly flat, at 40.2% in the latest year.
Free cash flow has declined 0.4% per year over the past 5 years.

Financial health

Total debt ($31.8B) exceeds cash ($1.3B); net debt is $30.5B.
Total debt has grown in line with revenue (3.5% vs 4.6% per year).
Operating income covered interest expense 7.5× in the latest year.
Total debt is 3.2× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 45.3% of earnings and 58.8% of free cash flow.
The dividend has grown 4.3% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$24.5B	$7.1B	0.0%	40.2%	$5.5B	$31.8B	$1.3B
2024	$24.3B	$6.7B	0.0%	40.1%	$5.9B	$31.2B	$1.0B
2023	$24.1B	$6.4B	0.0%	37.7%	$4.8B	$32.6B	$1.1B
2022	$24.9B	$7.0B	0.0%	39.9%	$5.7B	$33.5B	$973M
2021	$21.8B	$6.5B	0.0%	42.8%	$6.1B	$30.1B	$960M
2020	$19.5B	$5.3B	0.0%	40.1%	$5.6B	$26.8B	$1.8B
2019	$21.7B	$5.9B	0.0%	39.4%	$5.2B	$25.4B	$831M
2018	—	$6.0B	—	—	$5.2B	$22.6B	$1.3B
2017	—	$10.7B	—	—	$4.0B	$16.9B	$1.3B
2016	—	$4.2B	—	—	—	$15.0B	$1.3B
2015	—	$4.8B	—	—	—	$14.2B	$1.4B
2014	—	$5.2B	—	—	—	$11.4B	$1.6B
2013	—	$4.4B	—	—	—	$9.6B	$1.4B
2012	—	$3.9B	—	—	$2.4B	$9.0B	$1.1B
2011	—	$3.3B	—	—	$2.7B	$8.9B	$1.2B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$6.2B	$1.7B	0.0%	39.5%	$1.5B	—	$735M
Dec '25	$6.1B	$1.8B	0.0%	39.5%	$1.2B	$31.8B	$1.3B
Sep '25	$6.2B	$1.8B	0.0%	40.8%	$1.6B	—	$808M
Jun '25	$6.2B	$1.9B	0.0%	41.0%	$1.4B	—	$1.1B
Mar '25	$6.0B	$1.6B	0.0%	39.3%	$1.3B	—	$1.4B
Dec '24	$6.1B	$1.8B	0.0%	41.3%	$1.7B	$31.2B	$1.0B
Sep '24	$6.1B	$1.7B	0.0%	39.7%	$1.8B	—	$947M
Jun '24	$6.0B	$1.7B	0.0%	40.0%	$1.0B	—	$1.1B
Mar '24	$6.0B	$1.6B	0.0%	39.3%	$1.3B	—	$925M
Dec '23	$6.2B	$1.7B	0.0%	39.1%	$1.4B	$32.6B	$1.1B
Sep '23	$5.9B	$1.5B	0.0%	36.6%	$1.2B	—	$750M
Jun '23	$6.0B	$1.6B	0.0%	37.0%	$1.2B	—	$830M
Mar '23	$6.1B	$1.6B	0.0%	37.9%	$1.1B	—	$1.1B
Dec '22	$6.2B	$1.6B	0.0%	39.0%	$1.4B	$33.5B	$973M
Sep '22	$6.6B	$1.9B	0.0%	40.1%	$1.9B	—	$1.3B
Jun '22	$6.3B	$1.8B	0.0%	39.8%	$1.1B	—	$788M
Mar '22	$5.9B	$1.6B	0.0%	40.6%	$1.4B	—	$909M
Dec '21	$5.7B	$1.7B	0.0%	42.6%	$1.5B	$30.1B	$960M
Sep '21	$5.6B	$1.7B	0.0%	43.7%	$1.5B	—	$1.2B
Jun '21	$5.5B	$1.8B	0.0%	44.9%	$1.6B	—	$1.1B

Valuation over time

How the market has priced UNP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 17.1× (Mar '23) to 22.3× (Jun '26).
The price-to-sales ratio has risen from 4.8× (Mar '23) to 6.5× (Jun '26).
The dividend yield has fallen from 2.6% (Mar '23) to 2.0% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is UNP growing its revenue and profit?

Over the past 5 years, Union Pacific Corporation's revenue has grown 4.6% per year, and net income grown 5.9% per year. These are computed facts, not advice.

How much debt does UNP have?

As of FY2025, Union Pacific Corporation reported $31.8B of total debt against $1.3B of cash; operating income covered interest expense 7.5×.

What is UNP's profit margin?

In FY2025, gross margin was —, operating margin 40.2%, and net margin 29.1%.

What is UNP's P/E ratio?

As of Jun '26, Union Pacific Corporation traded at a price-to-earnings ratio of about 22.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.