Union Pacific Corporation (UNP) Stock

Union Pacific Corporation (UNP) is a Industrials stock trading at $309.92 (as of 2026-08-24), with a market capitalization of $184.00B and a trailing P/E of 25.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Union Pacific Corporation, through its rail subsidiary, operates in the railroad transportation business in the United States, providing freight service for commodities such as grain and related products, fertilizers, coal, petroleum and liquid petroleum gases, construction products, industrial chemicals and plastics, and intermodal containers carrying items including finished automobiles and parts. It serves customers in agriculture, energy, industrial and consumer-goods markets.

Understand Union Pacific Corporation: how it makes money

Union Pacific operates a United States rail network that transports a wide set of commodities, including grain and grain products, fertilizers, coal and renewables, petroleum and liquid petroleum gases, construction products and industrial chemicals, and finished automobiles and parts. It makes money by earning transportation revenue on shipped freight across these customer categories.

The profit engine is earning freight transportation revenue, with results monitored net of fuel effects via “Freight Revenue Ex. Fuel”, which highlights that underlying pricing and shipment mix are central to operating performance.

Revenue by segment (latest quarter)
Industrial$2.1B
Bulk$2.0B
Premium$1.8B

Business quality (Strong): Strength comes from a broad commodity mix and a clearly tracked operating revenue measure net of fuel. Main investor watchpoints are whether freight revenue, especially net of fuel, holds up across the different freight categories.

Valuation: At 22× earnings, UNP trades 23% above the Transportation average (18×). Note: one-time items can distort reported P/E.

Bull case

  • Broad commodity coverage supports recurring rail demand across agriculture, energy-related shipments, and industrial materials: The company describes transportation services for grain and grain products, fertilizers, coal and renewables, petroleum and liquid petroleum gases, industrial chemicals, plastics, forest products, soda ash and sand, and finished automobiles and parts.
  • Operating profitability is strong in the latest period: Operating margin is reported at 39.5% for the period ending 2026-03-31.

Bear case

  • Freight demand and mix can shift, which may pressure revenue even if the network remains the same: Revenue is tied to transporting commodities such as agriculture, energy-related products, and construction products, all of which can be exposed to changing customer needs.
  • If fuel-related effects move differently than expected, “Freight Revenue Ex. Fuel” can become a key stress signal: The company provides a specific metric for revenue “Ex. Fuel” and also reports intermodal freight revenue, suggesting investors track performance by revenue category and fuel-adjusted results.
Valuation — source: SEC EDGAR (first-party)
Price$309.92
Market Cap$184.00B
P/E Ratio25.1
EV / EBITDA14.4
Price / Book8.90
Price / Sales7.24
FCF Yield3.5%
DCF Value (model)$122.40
DCF Upside vs Price-60.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$24.51B
Net Margin29.1%
Revenue Growth (YoY)11.5%
EPS Growth (YoY)6.3%
FCF Growth (YoY)57.7%
Financial Health — source: SEC EDGAR
Altman Z-Score4.36 (safe)
Valuation vs Sector & Industry
Stock P/E25.1
Sector P/E (Industrials)26.0
Industry P/E (Transportation)17.0
vs Sector-3.4%
vs Industry47.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($13.72B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorIndustrials
IndustryTransportation
CEOVincenzo James Vena
Employees30,146
CountryUS
IPO Date1980-01-02

Related Companies (Transportation; 8 comparable transport companies)

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  • Southwest Airlines Co. (LUV)
  • Royal Caribbean Cruises Ltd. (RCL)
  • C.H. Robinson Worldwide, Inc. (CHRW)
UNP earnings history · UNP institutional & insider holders · UNP KPIs & operating metrics · UNP financials · UNP investor presentations & press releases · UNP SEC filings · UNP peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.