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NYSE · Industrials

UNION PACIFIC CORP (UNP)

As-reported financials and recent SEC filings for UNION PACIFIC CORP, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About UNION PACIFIC CORP

Union Pacific Corporation operates the Union Pacific Railroad Company, a major freight railroad serving 23 states in the western two-thirds of the United States. It transports bulk commodities like grain and coal, industrial products including chemicals and metals, and premium goods such as automobiles and intermodal containers. The company connects key ports and gateways across the U.S., Canada, and Mexico, providing freight transportation services to various industries and markets.

Snapshot

Revenue
$24.51B
Revenue growth (YoY)
1.1%
Net income
$7.14B
Diluted EPS
$11.98
Gross margin
Operating margin
40.2%
Net margin
29.1%
FCF margin
22.4%
ROE
38.7%
P/E (TTM)
24.2×
Market cap
$177.81B
Debt / equity
1.6×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Union Pacific

  • Revenue grew 1.1% to $24.5B in FY2025, in line with the 0.5% the year before.
  • Operating margin is 40.2% in FY2025, -2.7 pp against 42.8% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $6.9B, up 11.5% from Q2 FY2025.
  • Free cash flow was $5.5B in FY2025, 22.4% of revenue.
  • Net income rose 5.8% to $7.1B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Union Pacific’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin40.2%
98th percentile of 606
Net margin29.1%
97th percentile of 646
FCF margin22.4%
94th percentile of 561
Revenue growth (YoY)+1.1%
39th percentile of 669
ROE38.7%
95th percentile of 601
P/E (TTM)24.2×
49th percentile of 435
Debt / equity1.64×
87th percentile of 406
Short interest12.49d
97th percentile of 676

Union Pacific’s operating margin of 40.2% ranks in the 98th percentile of the 606 Industrials companies reporting it. Union Pacific’s net margin of 29.1% ranks in the 97th percentile of the 646 Industrials companies reporting it. Union Pacific’s return on equity of 38.7% ranks in the 95th percentile of the 601 Industrials companies reporting it.

No open-market insider buys in the last 90 days; 1 insider sale totaling $789,504. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 8 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
8
+7 quant / multi-strat
Initiated / added
6
0 new, 6 added
Reduced / exited
10
9 trimmed, 1 exited
Combined position
$2.29B
reported long value
InvestorAs ofPosition valueSharesChange
Harris Associates (Oakmark)Q1 2026$917.7M3.8MAdded
Baupost GroupQ1 2026$373.9M1.5MReduced
Two Sigma InvestmentsquantQ1 2026$266.1M1.1MAdded
AQR Capital ManagementquantQ1 2026$137.7M572.9KReduced
Bridgewater AssociatesQ1 2026$129.3M532.9KAdded
Corvex ManagementQ1 2026$117.5M484.3KReduced
Citadel AdvisorsquantQ1 2026$88.0M362.8KReduced
Point72 Asset ManagementquantQ1 2026$67.0M276.1KReduced
Dodge & CoxQ1 2026$63.3M261.0KReduced
Millennium ManagementquantQ1 2026$41.1M169.5KAdded
Markel GroupQ1 2026$36.5M150.3KAdded
Third PointQ1 2026$24.3M100.0KReduced
Gotham Asset ManagementQ1 2026$12.8M52.8KAdded
D. E. ShawquantQ1 2026$8.5M35.0KReduced
Renaissance TechnologiesquantQ1 2026$5.1M21.1KReduced

No longer held by: Maverick Capital (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
1
$790K
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-03
filed 2026-06-04
Gehringer Eric JEVP OPERATIONSSell3.0K$263.96$790K
2026-04-24
filed 2026-04-28
Rocker Kenyatta GEVP MARKETING & SALESSell15.5K$271.76$4.2M
2026-04-24
filed 2026-04-28
Rocker Kenyatta GEVP MARKETING & SALESSell11.9K$271.76$3.2M
2026-04-24
filed 2026-04-28
Hamann Jennifer LEVP & CHIEF FINANCIAL OFFICERSell2.0K$274.70$549K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
28.2M
settled 2026-07-15
Change vs prior
-0.9%
vs previous settlement
Days to cover
12.49
at avg daily volume
Avg daily volume
2.3M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1528.2M-0.9%12.49
2026-06-3028.5M-3.3%9.34
2026-06-1529.5M-0.7%11.71
2026-05-2929.7M+2.5%7.84
2026-05-1528.9M-1.5%11.90
2026-04-3029.4M+10.7%7.88
2026-04-1526.5M-5.9%10.76
2026-03-3128.2M+6.3%9.46

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$24.51B$24.25B$24.12B$24.88B$21.80B
Gross profit
Operating income$9.85B$9.71B$9.08B$9.92B$9.34B
Net income$7.14B$6.75B$6.38B$7.00B$6.52B
Diluted EPS$11.98$11.09$10.45$11.21$9.95

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$9.29B$9.35B$8.38B$9.36B$9.03B
Capital expenditure$3.79B$3.45B$3.61B$3.62B$2.94B
Free cash flow$5.50B$5.89B$4.77B$5.74B$6.10B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$6.86B11.5%$1.99B$3.36
Q1 FY2026$6.22B3.2%$1.70B$2.87
Q4 FY2025$6.08B-0.6%$1.85B$3.11
Q3 FY2025$6.24B2.5%$1.79B$3.01
Q2 FY2025$6.15B2.4%$1.88B$3.15
Q1 FY2025$6.03B-0.1%$1.63B$2.70
Q4 FY2024$6.12B-0.6%$1.76B$2.91
Q3 FY2024$6.09B2.5%$1.67B$2.75

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryRailroads, Line-Haul Operating
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2020
SEC CIK100885

Recent SEC filings

10-K2026-02-06
View on EDGAR →
10-K2025-02-07
View on EDGAR →
10-Q2026-07-23
View on EDGAR →
10-Q2026-04-23
View on EDGAR →
10-Q2025-10-23
View on EDGAR →
10-Q2025-07-24
View on EDGAR →
8-K2026-07-23
View on EDGAR →
8-K2026-05-18
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.