COVERAGE / UNP / Industrials

UNION PACIFIC CORP

Railroads, Line-Haul Operating

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS1

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$24.51bn

Prior / $24.25bn

Change / +1.07%

SOURCE / 2026-02-06

Operating income

$9.85bn

Prior / $9.71bn

Change / +1.37%

SOURCE / 2026-02-06

Net income

$7.14bn

Prior / $6.75bn

Change / +5.80%

SOURCE / 2026-02-06

Diluted EPS

$11.98

Prior / $11.09

Change / +8.03%

SOURCE / 2026-02-06

Free cash flow

$5.5bn

Prior / $5.89bn

Change / -6.70%

SOURCE / 2026-02-06

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

40.17%

Prior / 40.05%

Change / +0.12 pp

SOURCE / 2026-02-06

Return on avg. equity

40.38%

Prior / 42.60%

Change / -2.22 pp

SOURCE / 2026-02-06

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 24510000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 7138000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 9846000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 11.98,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 9290000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 3791000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 69698000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 51231000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 18467000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 4555000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 5014000000,
    "accn": "0000100885-26-000037",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-06",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$24.51bn	$7.14bn	$5.5bn	$11.98
2024-12-31	$24.25bn	$6.75bn	$5.89bn	$11.09
2023-12-31	$24.12bn	$6.38bn	$4.77bn	$10.45
2022-12-31	$24.88bn	$7bn	$5.74bn	$11.21

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	23.58x	Unavailable	37.06x	11
P/S	6.85x	Unavailable	4.74x	8
P/B	9.09x	Unavailable	7.57x	7
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	3.28%	Unavailable	3.29%	6

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-17 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 282.48,
  "tradingDate": "2026-09-17",
  "marketCap": 167814446675.04,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-17"
}

Company & operating context

UNION PACIFIC CORP is an SEC-reporting issuer listed on NYSE under UNP. Its SEC industry description is Railroads, Line-Haul Operating. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Equipment manufacturers, transport operators and industrial service providers face differing order and asset cycles.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-06PERIOD / 2025-12-31

UNP filed this 10-K on 2026-02-06 for the reported period 2025-12-31. Reading focus: Backlog conversion, utilization, deliveries, working capital and service revenue. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0146UNPCompany Research

UNP: reading the FY2025 financial structure ↗

UNION PACIFIC CORP

Research abstract

Annual revenue of USD 24.510 billion and net income of USD 7.138 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Order cancellations, supply constraints, execution risk, labor costs and capital-cycle sensitivity.

Backlog conversion, utilization, deliveries, working capital and service revenue.

INDUSTRIALS SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-06
SEC annual filing · 2024-12-31 ↗Source date 2026-02-06
SEC annual filing · 2023-12-31 ↗Source date 2026-02-06
SEC annual filing · 2022-12-31 ↗Source date 2025-02-07
SEC issuer record ↗Source date 2026-09-18