Union Pacific Corporation

UNP Industrials Railroads

Union Pacific Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.5 billion, up 1.07% from fiscal 2024.

Revenue
+11.5%
EPS
+6.33%
Free cash flow
+57.7%
Total debt
−7.58%

Quarter to June 2026, against a year earlier

304.00 2.07 +0.69%
Market cap
$179.4B
P/E
24.6×
Fwd P/E
23.3×
Dividend yield
1.83%
F-score
8/9
Altman Z
3.82
Beneish M
−2.64
Dividend safety
73/100

Union Pacific Corporation 10-Q filed Jul 23, 2026

Fiscal Q2 2026 · Period ended Jun 30, 2026 · Filed · accepted 3:48 PM ET · Document on sec.gov · Filing index

What changed

Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Apr 23, 2026: 1 added · 1 removed · 31 modified; 15 with only figures updated

  1. Modified · Quarterly summary

    The Company reported earnings of $2.873.36 per diluted share on net income of $1.72.0 billion and an operating ratio of 60.559.7% in the firstsecond quarter of 2026 compared to earnings of $2.703.15 per diluted share on net income of $1.61.9 billion and an operating ratio of 60.759.0% in the firstsecond quarter of 2025. Freight revenues increased 412% in the firstsecond quarter of 2026 compared to the same period in 2025 as core pricing gains, higher fuel surcharge revenues, 2% volume growth, and business mix core pricing gains more than offset a 1% reduction in volume. Higher the impact of unfavorable business mix (from higher domestic intermodal carloads ). Second quarter of 2026 volume growth was attributable to a 19% increase in domestic intermodal, coal, combined with higher grain, and industrial chemicalsgrain products and plastics were more than offset bycarloads, offsetting the impact of lower international intermodal carloads and coal carloads, which declined 2814% in the first quarter of 2026, and fewer automotive shipmentsand 17%, respectively, compared to the second quarter of 2025.