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Union Pacific Corporation (UNP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Rail Transportation · DATA UPDATED 2026-07-12

Union Pacific Corporation (UNP) operates in the Rail Transportation industry and is headquartered in Omaha, United States with about 29,287 employees. Its market capitalization is roughly $183 billion. In the fiscal year ended 2025-12-31, UNP reported $24.5B in revenue and $7.1B in net income.

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States.

Interactive charts & full statements → Open the UNP valuation workbench →

UNP Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	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	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$24.7B	$24.5B	$24.2B	$24.1B	$24.9B	$21.8B	$19.5B	$21.7B	$22.8B	$21.2B	$19.9B	$21.8B	$24.0B	$22.0B	$20.9B	$19.6B	$17.0B	$14.1B	$18.0B	$16.3B	$15.6B
Gross Profit	$11.3B	$14.6B	$11.0B	$10.5B	$11.2B	$10.5B	$9.2B	$9.6B	$9.5B	$9.0B	$8.3B	$9.0B	$9.7B	$8.3B	$7.5B	$12.8B	$13.8B	$11.9B	$10.8B	$9.6B	$9.1B
Gross Margin %	45.7%	59.4%	45.5%	43.6%	45.1%	48.2%	47.0%	44.3%	41.8%	42.4%	41.5%	41.1%	40.3%	37.8%	36.0%	65.5%	81.3%	84.2%	59.9%	59.0%	58.6%
Operating Income (EBIT)	$9.9B	$9.8B	$9.7B	$9.1B	$9.9B	$9.3B	$7.8B	$8.6B	$8.5B	$8.1B	$7.3B	$8.1B	$8.8B	$7.4B	$6.7B	$5.7B	$5.0B	$3.4B	$4.1B	$3.4B	$2.9B
Operating Margin %	40.1%	40.1%	40.1%	37.6%	39.9%	42.8%	40.1%	39.4%	37.3%	38.0%	36.5%	36.9%	36.5%	33.9%	32.2%	29.3%	29.4%	23.9%	22.7%	20.7%	18.5%
Net Income	$7.2B	$7.1B	$6.7B	$6.4B	$7.0B	$6.5B	$5.3B	$5.9B	$6.0B	$10.7B	$4.2B	$4.8B	$5.2B	$4.4B	$3.9B	$3.3B	$2.8B	$1.9B	$2.3B	$1.9B	$1.6B
Net Margin %	29.2%	29.1%	27.8%	26.5%	28.1%	29.9%	27.4%	27.3%	26.1%	50.4%	21.2%	21.9%	21.6%	20.0%	18.8%	16.8%	16.4%	13.4%	13.0%	11.4%	10.3%
EBITDA	$13.1B	$12.9B	$12.5B	$11.9B	$12.6B	$11.8B	$10.3B	$11.0B	$10.8B	$10.5B	$9.5B	$10.3B	$10.8B	$9.2B	$8.6B	$7.5B	$6.5B	$4.8B	$5.6B	$4.8B	$4.2B
Earnings Per Share (EPS)	$12.15	$12.03	$11.09	$10.45	$11.21	$9.95	$7.88	$8.38	$7.91	$13.36	$5.07	$5.49	$5.75	$4.71	$4.14	$3.36	$2.76	$1.87	$2.27	$1.73	$1.48
Shares Outstanding (M)	594M	594M	609M	610M	624M	655M	679M	706M	754M	802M	835M	869M	901M	932M	953M	980M	1,006M	1,012M	1,030M	1,074M	1,088M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UNP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$6.2B	$6.1B	$6.2B	$6.2B	$6.0B	$6.1B	$6.1B	$6.0B
Gross Profit	$2.8B	$2.7B	$2.9B	$2.8B	$2.7B	$2.8B	$2.8B	$2.7B
Gross Margin %	45.2%	44.9%	46.5%	46.1%	45.3%	45.8%	45.5%	45.4%
Operating Income (EBIT)	$2.4B	$2.4B	$2.5B	$2.5B	$2.4B	$2.5B	$2.4B	$2.4B
Operating Margin %	39.4%	39.2%	40.8%	40.9%	39.3%	41.2%	39.6%	39.8%
Net Income	$1.7B	$1.8B	$1.8B	$1.9B	$1.6B	$1.8B	$1.7B	$1.7B
Net Margin %	27.4%	30.4%	28.6%	30.5%	27.0%	28.8%	27.4%	27.9%
EBITDA	$3.2B	$3.4B	$3.3B	$3.3B	$3.1B	$3.2B	$3.1B	$3.1B
Earnings Per Share (EPS)	$2.87	$3.11	$3.01	$3.15	$2.70	$2.90	$2.75	$2.74
Shares Outstanding (M)	594M	594M	593M	595M	602M	609M	609M	610M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UNP Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	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	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$9.5B	$9.3B	$9.3B	$8.4B	$9.4B	$9.0B	$8.5B	$8.6B	$8.7B	$7.2B	$7.5B	$7.3B	$7.4B	$6.8B	$6.2B	$5.9B	$4.1B	$3.2B	$4.1B	$3.3B	$2.9B
Capital Expenditures (CapEx)	$3.8B	$3.8B	$3.5B	$3.6B	$3.6B	$2.9B	$2.9B	$3.5B	$3.4B	$3.3B	$3.5B	$4.7B	$4.3B	$3.5B	$3.7B	$3.3B	$2.5B	$100M	$3.2B	$3.1B	$2.8B
Free Cash Flow (FCF)	$5.7B	$5.5B	$5.9B	$4.8B	$5.7B	$6.1B	$5.6B	$5.2B	$5.2B	$4.0B	$4.0B	$2.7B	$3.0B	$3.3B	$2.4B	$2.6B	$1.6B	$3.1B	$902M	$160M	$102M
FCF Margin %	23.1%	22.4%	24.3%	19.8%	23.1%	28.0%	28.7%	23.8%	23.0%	18.7%	20.2%	12.3%	12.7%	15.2%	11.6%	13.4%	9.6%	21.9%	5.0%	1.0%	0.7%
Dividends Paid	$3.3B	$3.2B	$3.2B	$3.2B	$3.2B	$2.8B	$2.6B	$2.6B	$2.3B	$2.0B	$1.9B	$2.3B	$1.6B	$1.3B	$1.1B	$837M	$602M	$544M	$481M	$364M	$322M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UNP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.4B	$2.2B	$2.5B	$2.3B	$2.2B	$2.7B	$2.7B	$1.9B
Capital Expenditures (CapEx)	$937M	$999M	$950M	$936M	$906M	$922M	$831M	$902M
Free Cash Flow (FCF)	$1.5B	$1.2B	$1.6B	$1.4B	$1.3B	$1.7B	$1.8B	$1.0B
FCF Margin %	24.2%	20.2%	25.2%	22.7%	21.6%	28.4%	29.9%	16.8%
Dividends Paid	$821M	$818M	$819M	$795M	$804M	$810M	$815M	$793M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

UNP Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	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	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$69.6B	$69.7B	$67.7B	$67.1B	$65.4B	$63.5B	$62.4B	$61.7B	$59.1B	$57.8B	$55.7B	$54.6B	$52.4B	$49.7B	$47.2B	$45.1B	$43.1B	$42.2B	$39.7B	$38.0B	$36.5B
Cash & Cash Equivalents	$744M	$1.3B	$1.0B	$1.1B	$973M	$960M	$1.8B	$831M	$1.3B	$1.3B	$1.3B	$1.4B	$1.6B	$1.4B	$1.1B	$1.2B	$1.1B	$1.9B	$1.2B	$878M	$827M
Total Liabilities	$50.2B	$51.2B	$50.8B	$52.3B	$53.3B	$49.4B	$45.4B	$43.5B	$38.7B	$33.0B	$35.8B	$33.9B	$31.5B	$28.5B	$27.3B	$26.5B	$25.3B	$25.4B	$24.3B	$22.4B	$21.2B
Total Debt (Short + Long-Term)	$30.9B	$31.1B	$31.5B	$32.9B	$33.7B	$30.1B	$27.1B	$25.6B	$22.4B	$16.9B	$15.0B	$14.2B	$11.5B	$9.6B	$9.0B	$8.9B	$9.2B	$9.8B	$8.9B	$7.7B	$6.8B
Total Shareholders' Equity	$19.4B	$18.5B	$16.9B	$14.8B	$12.2B	$14.2B	$17.0B	$18.1B	$20.4B	$24.9B	$19.9B	$20.7B	$21.2B	$21.2B	$19.9B	$18.6B	$17.8B	$16.8B	$15.4B	$15.6B	$15.3B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive UNP viewer.

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