Earnings quality
Compare earnings and operating cash flow for earnings quality.
Union Pacific Corporation
Ticker UNP · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-06 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 40.2%; equity ratio is 26.5%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin40.2%
Equity ratio26.5%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
UNION PACIFIC CORP is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 402 544 6763 · As of filing date 2026-02-06
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $24.2B | $24.5B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | $9.7B | $9.8B |
| Income tax | $2.0B | $2.0B |
| Net income | $6.7B | $7.1B |
| Basic EPS | 11.10 | 12.00 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $1.0B | $1.3B |
| Current assets | $4.0B | $4.6B |
| Non-current assets* | $63.7B | $65.1B |
| Total assets | $67.7B | $69.7B |
| Current liabilities | $5.3B | $5.0B |
| Non-current liabilities* | $45.6B | $46.2B |
| Total liabilities | $50.8B | $51.2B |
| Stockholders’ equity | $16.9B | $18.5B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $9.3B | $9.3B |
| Investing cash flow | -$3.3B | -$3.8B |
| Financing cash flow | -$6.1B | -$5.3B |
| Cash at end of period | $1.0B | $1.3B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $21.8B | $24.9B | $24.1B | $24.2B | $24.5B | |
| Operating profit | $9.3B | $9.9B | $9.1B | $9.7B | $9.8B | |
| Net income | $6.5B | $7.0B | $6.4B | $6.7B | $7.1B | |
| Total assets | $63.5B | $65.4B | $67.1B | $67.7B | $69.7B | |
| Cash & equivalents | $960.0M | $973.0M | $1.1B | $1.0B | $1.3B | |
| Stockholders’ equity | $14.2B | $12.2B | $14.8B | $16.9B | $18.5B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $24.2B to $24.5B (▲ +1.1%). Operating profit went from $9.7B to $9.8B (▲ +1.4%).
Operating cash flow was $9.3B (prior $9.3B), with cash on the balance sheet at $1.3B versus $1.0B.
Liquidity & leverage
Cash moved from $1.0B to $1.3B; current liabilities $5.0B.
Capital buffer
Stockholders’ equity moved from $16.9B to $18.5B.
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Source: SEC EDGAR 0000100885-26-000037
(UNION PACIFIC CORP), period end 2025-12-31.