UNP Industrials

Union Pacific Corporation

$303.43-1.16%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Industrials
Industry: Railroads
Country: United States
Market cap: 180.3B USD
Enterprise value: 200.4B USD
Full-time employees: 28,716

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.64), though less than the overall market, less short-term liquidity (current ratio 0.99 vs a peer median of 1.62) and more debt relative to equity (1.47× vs a peer median of 0.40×)higher risk: bigger price swings (beta 0.95 vs peers 0.64), less liquidity (current ratio 0.99 vs peers 1.62) and more debt vs equity (1.47× vs peers 0.40×)
About average: growth and valuation

Ranks #1,257 of 2,308 industrials companies (bottom 46%)

See how it ranks against its peers

Worth knowing

Wide margins. Operating margin 40% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 40% vs peers 7.7%.
Union Pacific keeps 40% of revenue as operating profit, more than 95% of peers (median 7.7%).

StockQuotient Score

49/ 100

Oct 5 50 → Nov 4 49 (-1)

Valuation

Is the price right?

45/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 46 → 45

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.1%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.10Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.1%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.21Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.02Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield11.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

43/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.9%

Why

Held back by:

▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth5.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.06Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth0.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.54Sector median: 0.0421 · MAD: 0.0625

Revenue growth4.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.03Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

96/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin40.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.02Sector median: 0.0773 · MAD: 0.0507

Return on assets10.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.99Sector median: 0.0311 · MAD: 0.0241

Return on invested capital16.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.63Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin56.3%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity35.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.95

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.13Sector median: 0.6440 · MAD: 0.2745

Current ratio0.99×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.18Sector median: 1.6180 · MAD: 0.5360

Debt / equity1.47×

SEC filings · latest balance sheetReported value33% base weight · Z-score -3.15Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Union Pacific

Is Union Pacific getting weaker?: Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is unchanged at 49/100 since Oct 28, 2026.
How is Union Pacific valued vs its peers?: Priced about in line with its peers. Valuation scores 45/100 against 2,459 industrials peers.
Is Union Pacific growing?: At about the same pace as its peers. Growth scores 43/100 against 2,459 industrials peers. 3-year revenue growth 0.9% vs a peer median of 4.2% (weaker than 65% of peers).3-year revenue growth 0.9% vs peers 4.2% (weaker than 65% of peers).
How profitable is Union Pacific?: More profitable than most of its peers. Profitability scores 96/100 against 2,459 industrials peers. Operating margin 40.0% vs a peer median of 7.7% (stronger than 95% of peers).Operating margin 40.0% vs peers 7.7% (stronger than 95% of peers).
How risky is Union Pacific?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 1.47× vs a peer median of 0.40× (weaker than 86% of peers).Debt / equity 1.47× vs peers 0.40× (weaker than 86% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 23, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	24.7B USD	25.4B USD	+2.9%
Net income (12 months)	7.2B USD	7.3B USD	+1.6%
Operating margin	40.2%	40.0%	−0.2 pts
Free cash flow (12 months)	5.7B USD	6.5B USD	+14.1%
Debt	30.7B USD	30.3B USD	−1.1%
Cash	735.0M USD	1.6B USD	+119.6%
Shares outstanding	593.7M	594.1M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Railroads companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	42.8%	39.9%	37.7%	40.1%	40.2%	▲ 0.1 pts
Net margin	29.9%	28.1%	26.4%	27.8%	29.1%	▲ 1.3 pts
Return on assets (ROA)	10.3%	10.7%	9.5%	10.0%	10.2%	▲ 0.3 pts
Return on equity (ROE)	46.1%	57.5%	43.1%	39.9%	38.7%	▼ 1.3 pts
Free cash flow margin	28.0%	23.1%	19.8%	24.3%	22.4%	▼ 1.9 pts
Current ratio	0.62×	0.72×	0.81×	0.77×	0.91×	▲ 19%
Debt to equity	2.13×	2.76×	2.20×	1.85×	1.72×	▼ 6.7%
Interest coverage	8.07×	7.80×	6.78×	7.65×	7.52×	▼ 1.7%

UNP price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.64), though less than the overall market, less short-term liquidity (current ratio 0.99 vs a peer median of 1.62) and more debt relative to equity (1.47× vs a peer median of 0.40×)higher risk: bigger price swings (beta 0.95 vs peers 0.64), less liquidity (current ratio 0.99 vs peers 1.62) and more debt vs equity (1.47× vs peers 0.40×)

About average: growth and valuation

Ranks #1,257 of 2,308 industrials companies (bottom 46%)

See how it ranks against its peers

Questions investors ask about Union Pacific

Is Union Pacific getting weaker?

Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is unchanged at 49/100 since Oct 28, 2026.

How is Union Pacific valued vs its peers?

Priced about in line with its peers. Valuation scores 45/100 against 2,459 industrials peers.

Is Union Pacific growing?

At about the same pace as its peers. Growth scores 43/100 against 2,459 industrials peers. 3-year revenue growth 0.9% vs a peer median of 4.2% (weaker than 65% of peers).3-year revenue growth 0.9% vs peers 4.2% (weaker than 65% of peers).

How profitable is Union Pacific?

More profitable than most of its peers. Profitability scores 96/100 against 2,459 industrials peers. Operating margin 40.0% vs a peer median of 7.7% (stronger than 95% of peers).Operating margin 40.0% vs peers 7.7% (stronger than 95% of peers).

How risky is Union Pacific?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 1.47× vs a peer median of 0.40× (weaker than 86% of peers).Debt / equity 1.47× vs peers 0.40× (weaker than 86% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

24.7B USD

25.4B USD

+2.9%

Net income (12 months)

7.2B USD

7.3B USD

+1.6%

Operating margin

40.2%

40.0%

−0.2 pts

Free cash flow (12 months)

5.7B USD

6.5B USD

+14.1%

Debt

30.7B USD

30.3B USD

−1.1%

Cash

735.0M USD

1.6B USD

+119.6%

Shares outstanding

593.7M

594.1M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

42.8%

39.9%

37.7%

40.1%

40.2%

▲ 0.1 pts

Net margin

29.9%

28.1%

26.4%

27.8%

29.1%

▲ 1.3 pts

Return on assets (ROA)

10.3%

10.7%

9.5%

10.0%

10.2%

▲ 0.3 pts

Return on equity (ROE)

46.1%

57.5%

43.1%

39.9%

38.7%

▼ 1.3 pts

Free cash flow margin

28.0%

23.1%

19.8%

24.3%

22.4%

▼ 1.9 pts

Current ratio

0.62×

0.72×

0.81×

0.77×

0.91×

▲ 19%

Debt to equity

2.13×

2.76×

2.20×

1.85×

1.72×

▼ 6.7%

Interest coverage

8.07×

7.80×

6.78×

7.65×

7.52×

▼ 1.7%