TORVANTA
Industrials · S&P 500 · data as of 2026-10-05

UNP stock analysis: Union Pacific

Union Pacific (UNP) is an S&P 500 company in Rail Transportation. It grades strongest on profitability and weakest on growth.

The model's view of UNP · subscribers

Where UNP ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with UNP · updated 2026-10-05 · from prices and SEC filings

UNP price performance

UNP against the S&P 500, one year
+0%+20%UNP +20%S&P 500 +18%2025-09-292026-10-05
Year to date+21.6%S&P 500 +14.5% · ahead by 7.1 pts
1 year+19.5%S&P 500 +17.0% · ahead by 2.4 pts
3 years+47.5%S&P 500 +89.3% · behind by 41.8 pts
5 years+47.6%S&P 500 +91.3% · behind by 43.8 pts

Total returns with dividends reinvested.

UNP factor grades

Each grade compares UNP with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

C+ValueP/E 22.4x (sector 27.2x)FCF yield 4.0% (sector 4.0%)
C-GrowthRevenue growth +4% (sector +7%)EPS growth +7% (sector +9%)
AProfitabilityOperating margin 40.0% (sector 16.9%)ROIC 41.1% (sector 19.9%)
BMomentum12-month change +19%From 52-wk high -10%

UNP in plain numbers

UNP key statistics

SectorIndustrials
IndustryRail Transportation
IndexS&P 500
Market value$164.6B
Revenue growth (y/y)+4%
Free-cash-flow yield4.0%
Dividend yield2.0%
Next earnings (expected)2026-10-22
Valuation measures
Market value$164.6B
Enterprise value$163.0B
P/E (trailing)22.4x
Forward P/E (Torvanta estimate)21.5x
PEG (Torvanta estimate)4.99
Price / sales6.5x
Price / book8.0x
EV / revenue6.4x
EV / EBITDA16.0x
Financial highlights
Revenue, last 12 months$25.4B
Net income, last 12 months$7.3B
EPS, last 12 months (GAAP)$12.35
Operating margin40.0%
Net margin28.8%
Return on equity39.7%
Return on invested capital41.1%
Cash$1.6B
Free cash flow, last 12 months$6.5B
Interest cover7.9x
Current ratio0.99x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

UNP earnings trends

Revenue vs earnings
$0$1.7B$3.4B$5.1B$6.9BSep 2024 Revenue: $6.1BDec 2024 Revenue: $6.1BMar 2025 Revenue: $6.0BJun 2025 Revenue: $6.2BSep 2025 Revenue: $6.2BDec 2025 Revenue: $6.1BMar 2026 Revenue: $6.2BJun 2026 Revenue: $6.9BSep 2024 Net income: $1.7BDec 2024 Net income: $1.8BMar 2025 Net income: $1.6BJun 2025 Net income: $1.9BSep 2025 Net income: $1.8BDec 2025 Net income: $1.8BMar 2026 Net income: $1.7BJun 2026 Net income: $2.0BSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 27.4%Net margin: 28.8%Net margin: 27.0%Net margin: 30.5%Net margin: 28.6%Net margin: 30.4%Net margin: 27.4%Net margin: 29.0%0%15%30%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.8$1.7$2.5$3.4Sep 2024 EPS (GAAP, diluted): $2.8Dec 2024 EPS (GAAP, diluted): $2.9Mar 2025 EPS (GAAP, diluted): $2.7Jun 2025 EPS (GAAP, diluted): $3.2Sep 2025 EPS (GAAP, diluted): $3.0Dec 2025 EPS (GAAP, diluted): $3.1Mar 2026 EPS (GAAP, diluted): $2.9Jun 2026 EPS (GAAP, diluted): $3.4Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +9% · Dec 2025 +7% · Mar 2026 +6% · Jun 2026 +7%

From the company's 10-Q and 10-K filings with the SEC.

Union Pacific financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$21.8B$24.9B$24.1B$24.2B$24.5B
Net income$6.5B$7.0B$6.4B$6.7B$7.1B
EPS (GAAP)$9.95$11.22$10.45$11.09$11.97
Free cash flow$6.1B$5.7B$4.8B$5.9B$5.5B

UNP earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-23$3.36+7%+12%+6.2%
2026-04-23$2.87+6%+3%+7.4%
2026-01-27$3.11+7%-1%-1.8%
2025-10-23$3.01+9%+3%-5.2%
2025-07-24$3.15+15%+2%-3.2%
2025-04-24$2.70+0%-0%-5.8%

About Union Pacific

HeadquartersOmaha, NE
Industry (SEC code)Railroads, Line-Haul Operating
Fiscal year endsDecember 31
Incorporated inUT
Listed onNYSE

From the company's SEC registration record.

Companies similar to UNP

CompanyMarket valueP/ERevenue growthOperating margin12-month change
UNP Union Pacific$164.6B22.4x+4%40.0%+19%
ETN Eaton$168.0B44.0x+16%n/a+17%compare
BA Boeing$152.3B68.6x+25%4.9%-11%compare
DE Deere$183.9B37.9x+8%n/a+49%compare
UBER Uber$141.9B15.2x+17%12.1%-28%
PH Parker-Hannifin$123.0B34.3x+8%23.6%+29%
LMT Lockheed Martin$116.9B18.7x+7%11.9%+3%

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Frequently asked questions

Is UNP stock a buy?

Torvanta does not tell individuals what to buy. Its grades for UNP are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is UNP's P/E ratio?

UNP trades at about 22.4 times its last 12 months of GAAP earnings reported to the SEC, and about 21.5 times Torvanta's own estimate of the next 12 months.

When does UNP report earnings next?

Based on its filing history, Torvanta expects Union Pacific to report around 2026-10-22.

Does UNP pay a dividend?

Yes. Its dividend yield is about 2.0%, and it has raised its dividend 19 years in a row.

How has UNP performed against the S&P 500?

Over the past year UNP returned +19.5%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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