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Companies / Industrials / Union Pacific Corporation
UNP

Union Pacific Corporation

IndustrialsTransportation & UtilitiesS&P 500
Ticker UNPOMAHA, NEFiscal year ends DecemberBook value per share $37.07Diluted shares 594.0M

Union Pacific Corporation (NYSE: UNP) operates freight rail services through Union Pacific Railroad, connecting 23 states across the western two-thirds of the United States and linking Pacific and Gulf Coast ports with Midwest and Eastern gateways, as well as Canada and Mexico. Its rail network carries freight for… From the company’s description.

In fiscal 2025, Union Pacific Corporation reported revenue of $24.51B, up 1.1% from fiscal 2024, and net income of $7.14B. Its operating margin was 40.2%, and operations generated $9.29B in cash. Over the twelve months to Sep 30, 2026, revenue was $26.36B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$24.51BFY2025
+1.1% year over year
Last 12 mo $26.36B
40.17%FY2025
+0.1 percentage points
Last 12 mo 40.08%
$7.14BFY2025
+5.8% year over year
Last 12 mo $7.62B
38.65%FY2025
−1.3 percentage points
Last 12 mo 34.60%
Cash & financing
$9.29BFY2025
−0.6% year over year
Last 12 mo $10.53B
$5.50BFY2025
−6.7% year over year
Last 12 mo $6.69B
1.72FY2025
Was 1.85× a year earlier
Last 12 mo 1.38
595.9MFY2025
−2.1% year over year
Last 12 mo 594.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Union Pacific Corporation does

In the company’s own words

Union Pacific Corporation (NYSE: UNP) operates freight rail services through Union Pacific Railroad, connecting 23 states across the western two-thirds of the United States and linking Pacific and Gulf Coast ports with Midwest and Eastern gateways, as well as Canada and Mexico. Its rail network carries freight for agricultural, energy, industrial, automotive, and retail customers, including grain, coal, chemicals, construction materials, finished vehicles, and domestic and international intermodal containers. The company reports one operating segment because its integrated rail network is managed as a single business, while categorizing freight revenues into Bulk, Industrial, and Premium: these groups represented 33%, 37%, and 30% of 2025 freight revenue, respectively. Union Pacific operates 32,889 route miles and generated $23.2 billion in freight revenue in 2025. Its network serves all six major Mexico gateways and more than 40 vehicle distribution centers, and connects with other rail carriers to reach regions beyond its direct service area. Union Pacific Railroad is the corporation’s principal operating company. Its website is www.up.com.

Company details
Sector
Industrials
Industry (SIC)
Transportation & Utilities
Headquarters
OMAHA, NE
Fiscal year end
December
CIK
100885
SIC
4011

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.64B$5.27B$13.18B$21.09B$29.00B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Union Pacific Corporation — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

1.1K
funds hold it
6 of 35
superinvestors hold it
$55.94B
held by funds, at market
34.9%
of shares held by funds
45
bond issues held by funds

Superinvestors in Union Pacific Corporation · what they did last quarter

Bill NygrenINCREASED +1.6%
Harris Associates (Oakmark)
1.4%of 13F portfolio
Seth KlarmanDECREASED -23.1%
Baupost Group
6.0%of 13F portfolio
Daniel LoebINCREASED +250.0%
Third Point
2.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Union Pacific Corporation’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.22%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.25%of fund net assets
0.94%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.25%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.24%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Union Pacific Corporation’s bonds, as funds hold them

Funds report holding 45 issues of Union Pacific Corporation’s debt, $2.34B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.75%, maturing 2027 to 2072.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Union Pacific Corporation and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Union Pacific Corporation's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Union Pacific Corporation's last four quarterly filings that the numbers alone won't show?”
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