Union Pacific is a US freight railroad whose network links the West and Midwest with ports and border crossings to Mexico and Canada. It carries containers, chemicals, grain, coal and cars. Union Pacific plans to acquire Norfolk Southern; the US rail regulator STB is reviewing the application, with a decision expected in the second half of 2027 at the earliest. As of Oct 13, 2026
As of Oct 13, 2026Fact sheet (from the annual report)Railroads (freight) · Omaha, USAfull fact sheet
Union Pacific is the holding company of a freight railroad that serves the western United States by rail. The network links ports on the Pacific and Gulf coasts with the Midwest and with border crossings to Canada and Mexico. The railroad forms a single reporting segment, but the group reports revenue separately by commodity group. In bulk, the railroad carries grain, fertilizer, food and coal, for example to export terminals and utilities. The industrial division transports construction materials, chemicals, plastics, forest products, metals and petroleum products, among other goods.
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Pullback in trend · Analysis method
This method currently detects no pattern for UNP. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and margin
Union Pacific Corporation · Sector Industrials · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 6, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
–no data: Gross margin above 40%not stated in the SEC filings
✓met: Operating margin above 15%40.2%
✓met: Net margin above 10%29.1%
✓met: Return on equity above 15%38.7%
✓met: Free cash flow margin above 10%22.4%
✓met: Profit in each of the last 5 fiscal years5 of 5
✓met: Free cash flow positive in each of the last 3 fiscal years3 of 3
✗not met: Equity ratio above 30%26.5%
Operating margin
40.2%Fiscal year 2025
All89strong
Rank 89 of 100: higher than 89% of 192 peers (All). strong.
Sector98strong
Rank 98 of 100: higher than 98% of 28 peers (Sector). strong.
Median Industrials: 10.4%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
29.1%Fiscal year 2025
All82strong
Rank 82 of 100: higher than 82% of 237 peers (All). strong.
Sector96strong
Rank 96 of 100: higher than 96% of 34 peers (Sector). strong.
Median Industrials: 12.9%
Profit after all costs, interest and taxes divided by revenue.
Return on equity
38.7%Fiscal year 2025
All82strong
Rank 82 of 100: higher than 82% of 218 peers (All). strong.
Sector70strong
Rank 70 of 100: higher than 70% of 32 peers (Sector). strong.
Median Industrials: 26.3%
Net income divided by equity at fiscal year end.
Return on assets
10.2%Fiscal year 2025 (total assets at year end)
All70strong
Rank 70 of 100: higher than 70% of 238 peers (All). strong.
Sector75strong
Rank 75 of 100: higher than 75% of 34 peers (Sector). strong.
Median Industrials: 7.5%
Net income divided by total assets at fiscal year end.
Equity ratio
26.5%Fiscal year 2025
All39medium
Rank 39 of 100: higher than 39% of 239 peers (All). medium.
Sector43medium
Rank 43 of 100: higher than 43% of 34 peers (Sector). medium.
Median Industrials: 33.2%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
22.4%Fiscal year 2025
All74strong
Rank 74 of 100: higher than 74% of 213 peers (All). strong.
Sector95strong
Rank 95 of 100: higher than 95% of 32 peers (Sector). strong.
Median Industrials: 10.5%
Free cash flow divided by revenue.
Free cash flow
5.5B USDFiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 3 of 7 met
✗not met: Over 3 years, revenue grew by more than 5% per year−0.5%
✗not met: Over 5 years, revenue grew by more than 5% per year+4.6%
✗not met: Over 10 years, revenue grew by more than 5% per year+1.2%
✗not met: Over 3 years, EPS grew by more than 5% per year+2.2%
✓met: Over 5 years, EPS grew by more than 5% per year+8.7%
✓met: Revenue rose in at least 4 of the last 5 fiscal years4 of 5
✓met: Revenue rose in the last fiscal year+1.1%
Revenue growth 3 years
−0.5%per year
All16weak
Rank 16 of 100: higher than 16% of 230 peers (All). weak.
Sector23weak
Rank 23 of 100: higher than 23% of 32 peers (Sector). weak.
Median Industrials: +8.5%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+4.6%per year
All17weak
Rank 17 of 100: higher than 17% of 217 peers (All). weak.
Sector22weak
Rank 22 of 100: higher than 22% of 30 peers (Sector). weak.
Median Industrials: +9.2%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
+1.2%per year
All13weak
Rank 13 of 100: higher than 13% of 157 peers (All). weak.
Sector26weak
Rank 26 of 100: higher than 26% of 21 peers (Sector). weak.
Median Industrials: +4.5%
Average growth per year over 10 fiscal years.
EPS growth 3 years
+2.2%per year
All27weak
Rank 27 of 100: higher than 27% of 157 peers (All). weak.
Sector28weak
Rank 28 of 100: higher than 28% of 23 peers (Sector). weak.
Median Industrials: +10.7%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+8.7%per year
All35medium
Rank 35 of 100: higher than 35% of 146 peers (All). medium.
Sector26weak
Rank 26 of 100: higher than 26% of 21 peers (Sector). weak.
Median Industrials: +13.7%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+8.1%per year
All41medium
Rank 41 of 100: higher than 41% of 140 peers (All). medium.
Sector50medium
Rank 50 of 100: higher than 50% of 21 peers (Sector). medium.
Median Industrials: +8.1%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 7 of 7 met
✓met: Pays a dividend5.44 USD
✓met: Payout ratio at most 60% of earnings45%
✓met: Dividend paid in each of the last 5 fiscal years5 of 5
✓met: Dividend per share never lowered in the last 5 fiscal yearsDividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut.never
✓met: Dividend per share higher than 5 years ago+7.0%
✓met: Free cash flow per share covers the dividend1.7x
✓met: Dividends paid over the last 5 years covered by free cash flow56% of free cash flow
Payout ratio
45%Fiscal year 2025
Dividend per share divided by earnings per share.
Dividend growth 5 years
+7.0%per year
All35medium
Rank 35 of 100: higher than 35% of 118 peers (All). medium.
Sector23weak
Rank 23 of 100: higher than 23% of 20 peers (Sector). weak.
Median Industrials: +7.7%
Growth of the dividend per share per year.
Free cash flow coverage
1.7xFiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
Financial strength 4 of 6 met
✓met: Piotroski F-Score at least 7 of 98 of 8 · 1 without data
✗not met: Long-term debt no higher than equity1.72
✗not met: Current assets cover current liabilities0.91
✓met: Positive equity18.5B USD
✓met: In 5 years, share count up by at most 5%−12.3%
✓met: Free cash flow positive in the last fiscal year5.5B USD
Piotroski F-Score
8 of 8Fiscal year 2025
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
1.72at fiscal year end
All15weak
Rank 15 of 100: lower than 15% of 199 peers (All). weak.
Sector20weak
Rank 20 of 100: lower than 20% of 32 peers (Sector). weak.
Median Industrials: 0.62
Long-term financial debt divided by equity.
Liquidity (current ratio)
0.91at fiscal year end
All17weak
Rank 17 of 100: higher than 17% of 215 peers (All). weak.
Sector17weak
Rank 17 of 100: higher than 17% of 33 peers (Sector). weak.
Median Industrials: 1.22
Current assets divided by current liabilities.
Change in share count
−12.3%in 5 years
All86strong
Rank 86 of 100: lower than 86% of 199 peers (All). strong.
Sector81strong
Rank 81 of 100: lower than 81% of 29 peers (Sector). strong.
Median Industrials: −5.4%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
✓met: Profit in the last fiscal year (positive return on assets)
✓met: Positive operating cash flow
✓met: Return on assets higher than the prior year
✓met: Operating cash flow higher than net income
✓met: Long-term debt relative to total assets fell
✓met: Liquidity (current assets / current liabilities) rose
✓met: No additional shares (diluted share count did not rise)
–no data: Gross margin higher than the prior year
✓met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
Light yellow: Revenue grew over 5 years (+4.6% per year), more slowly than the sector median.
Light yellow: Net income (total) grew over 5 years (+5.9% per year), more slowly than the sector median; per share +8.7% per year.
Light green: Net margin 29.1%, above the sector median (11.1%).
Light red: Debt much higher than usual in the sector.
Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
RevenueNet incomeNet margin (below)in USD
010B20B30B
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 19.9B USD · Net income 4.2B USD · Net margin 21.2%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 21.2B USD · Net income 10.7B USD · Net margin 50.4%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 22.8B USD · Net income 6.0B USD · Net margin 26.1%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 21.7B USD · Net income 5.9B USD · Net margin 27.3%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 19.5B USD · Net income 5.3B USD · Net margin 27.4%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 21.8B USD · Net income 6.5B USD · Net margin 29.9%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 24.9B USD · Net income 7.0B USD · Net margin 28.1%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 24.1B USD · Net income 6.4B USD · Net margin 26.4%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 24.3B USD · Net income 6.7B USD · Net margin 27.8%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 24.5B USD · Net income 7.1B USD · Net margin 29.1%
Margin
21%50%26%27%27%30%28%26%28%29%
RevenueNet incomeNet margin (below)in USD
02B4B6B8B
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 6.2B USD · Net income 1.7B USD · Net margin 26.8% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 6.0B USD · Net income 1.6B USD · Net margin 27.2%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 6.0B USD · Net income 1.7B USD · Net margin 27.9%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 6.1B USD · Net income 1.7B USD · Net margin 27.4%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 6.1B USD · Net income 1.8B USD · Net margin 28.8% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 6.0B USD · Net income 1.6B USD · Net margin 27.0%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 6.2B USD · Net income 1.9B USD · Net margin 30.5%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 6.2B USD · Net income 1.8B USD · Net margin 28.6%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 6.1B USD · Net income 1.8B USD · Net margin 30.4% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 6.2B USD · Net income 1.7B USD · Net margin 27.4%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 6.9B USD · Net income 2.0B USD · Net margin 29.0%
Q3/26Quarter Q3/26 (Jul 1, 2026 – Sep 30, 2026): Revenue 7.2B USD · Net income 2.1B USD · Net margin 28.8%
Margin
27%27%28%27%29%27%30%29%30%27%29%29%
Earnings per shareUSD per share
05.001015
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 5.07 USD
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 13.36 USD
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 7.91 USD
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 8.38 USD
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 7.88 USD
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 9.95 USD
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 11.21 USD
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 10.45 USD
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 11.09 USD
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 11.98 USD
Earnings per shareUSD per share
01.002.003.004.00
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Earnings per share not reported separately for Q4
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Earnings per share 2.69 USD
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Earnings per share 2.74 USD
Dividend per sharePayout ratio (below)USD per share
02.004.006.00
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Dividend per share 2.26 USD · Payout ratio 44.5%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Dividend per share 2.48 USD · Payout ratio 18.6%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Dividend per share 3.06 USD · Payout ratio 38.7%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Dividend per share 3.70 USD · Payout ratio 44.2%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Dividend per share 3.88 USD · Payout ratio 49.2%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Dividend per share 4.29 USD · Payout ratio 43.1%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Dividend per share 5.08 USD · Payout ratio 45.3%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Dividend per share 5.20 USD · Payout ratio 49.8%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Dividend per share 5.28 USD · Payout ratio 47.6%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Dividend per share 5.44 USD · Payout ratio 45.4%
Ratio
44%19%39%44%49%43%45%50%48%45%
Dividend per sharePayout ratio (below)USD per share
00.501.001.50
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Dividend per share 1.30 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Dividend per share 1.30 USD · Payout ratio 48.3%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Dividend per share 1.30 USD · Payout ratio 47.4%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Dividend per share 1.34 USD · Payout ratio 48.7%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Dividend per share 1.34 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Dividend per share 1.34 USD · Payout ratio 49.6%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Dividend per share 1.34 USD · Payout ratio 42.5%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Dividend per share 1.38 USD · Payout ratio 45.8%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Dividend per share 1.38 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Dividend per share 1.38 USD · Payout ratio 48.1%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Dividend per share 1.38 USD · Payout ratio 41.1%
Q3/26Quarter Q3/26 (Jul 1, 2026 – Sep 30, 2026): Dividend per share 1.42 USD · Payout ratio 40.7%
Ratio
48%47%49%50%43%46%48%41%41%
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 24.5B USD · Net income 7.1B USD · Net margin 29.1%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 40.2 USD operating income and 29.1 USD net income remained.
Revenue24.5B USD · 100%Operating income9.8B USD · 40%Cost of revenue and operating expenses14.7B USD · 60%Net income7.1B USD · 29%Interest expense1.3B USD · 5%Taxes & other (net)1.4B USD · 6%
Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
Item
Amount
of revenue
Revenue
24.5B USD
100.0%
Operating income
9.8B USD
40.2%
Cost of revenue and operating expenses
14.7B USD
59.8%
Net income
7.1B USD
29.1%
Interest expense
1.3B USD
5.3%
Taxes & other (net)
1.4B USD
5.7%
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The operating margin stayed roughly the same in 5 years (40.2%).
Operating marginNet margin
0%20%40%60%
2016Fiscal year 2016: Operating margin 36.5% · Net margin 21.2%
2017Fiscal year 2017: Operating margin 38.0% · Net margin 50.4%
2018Fiscal year 2018: Operating margin 37.3% · Net margin 26.1%
2019Fiscal year 2019: Operating margin 39.4% · Net margin 27.3%
2020Fiscal year 2020: Operating margin 40.1% · Net margin 27.4%
2021Fiscal year 2021: Operating margin 42.8% · Net margin 29.9%
2022Fiscal year 2022: Operating margin 39.9% · Net margin 28.1%
2023Fiscal year 2023: Operating margin 37.7% · Net margin 26.4%
2024Fiscal year 2024: Operating margin 40.1% · Net margin 27.8%
2025Fiscal year 2025: Operating margin 40.2% · Net margin 29.1%
Returns
Return on equity rose in 5 years from 31.5% to 38.7%.
Return on equityReturn on assets
0%20%40%60%
2016Fiscal year 2016: Return on equity 21.2% · Return on assets 7.6%
2017Fiscal year 2017: Return on equity 43.1% · Return on assets 18.5%
2018Fiscal year 2018: Return on equity 29.2% · Return on assets 10.1%
2019Fiscal year 2019: Return on equity 32.7% · Return on assets 9.6%
2020Fiscal year 2020: Return on equity 31.5% · Return on assets 8.6%
2021Fiscal year 2021: Return on equity 46.1% · Return on assets 10.3%
2022Fiscal year 2022: Return on equity 57.5% · Return on assets 10.7%
2023Fiscal year 2023: Return on equity 43.1% · Return on assets 9.5%
2024Fiscal year 2024: Return on equity 39.9% · Return on assets 10.0%
2025Fiscal year 2025: Return on equity 38.7% · Return on assets 10.2%
Equity and long-term debt
The equity ratio stayed roughly the same in 5 years (26.5%).
EquityLong-term debtin USDLong-term debt, depending on the filing, includes the current portion or leases.
2016Fiscal year 2016: Operating cash flow 7.5B USD · Capital expenditure 3.5B USD · Free cash flow 4.0B USD
2017Fiscal year 2017: Operating cash flow 7.2B USD · Capital expenditure 3.2B USD · Free cash flow 4.0B USD
2018Fiscal year 2018: Operating cash flow 8.7B USD · Capital expenditure 3.4B USD · Free cash flow 5.2B USD
2019Fiscal year 2019: Operating cash flow 8.6B USD · Capital expenditure 3.5B USD · Free cash flow 5.2B USD
2020Fiscal year 2020: Operating cash flow 8.5B USD · Capital expenditure 2.9B USD · Free cash flow 5.6B USD
2021Fiscal year 2021: Operating cash flow 9.0B USD · Capital expenditure 2.9B USD · Free cash flow 6.1B USD
2022Fiscal year 2022: Operating cash flow 9.4B USD · Capital expenditure 3.6B USD · Free cash flow 5.7B USD
2023Fiscal year 2023: Operating cash flow 8.4B USD · Capital expenditure 3.6B USD · Free cash flow 4.8B USD
2024Fiscal year 2024: Operating cash flow 9.3B USD · Capital expenditure 3.5B USD · Free cash flow 5.9B USD
2025Fiscal year 2025: Operating cash flow 9.3B USD · Capital expenditure 3.8B USD · Free cash flow 5.5B USD
Share count
The share count fell in 5 years by 12.3% (mostly through share repurchases).
Diluted share count
0250M500M750M1B
2016Fiscal year 2016: Diluted share count 835.4M
2017Fiscal year 2017: Diluted share count 801.7M
2018Fiscal year 2018: Diluted share count 754.3M
2019Fiscal year 2019: Diluted share count 706.1M
2020Fiscal year 2020: Diluted share count 679.1M
2021Fiscal year 2021: Diluted share count 655.4M
2022Fiscal year 2022: Diluted share count 624.0M
2023Fiscal year 2023: Diluted share count 610.2M
2024Fiscal year 2024: Diluted share count 608.6M
2025Fiscal year 2025: Diluted share count 595.9M
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividend per share
5.44USD · Fiscal year 2025
Dividend growth per year
3 y+2.3%5 y+7.0%10 y+9.5%
Years without a cut
at least 10as far as the data goes
Payout ratio
of earnings45%of free cash flow59%
To shareholders (5 years)
34.0B USD54% through repurchases
Share count over 5 years
−12.3%fewer shares – each share is a larger stake
Dividend per share
The dividend per share rose in 5 years from 3.88 USD to 5.44 USD.
Dividend per shareUSD per sharePer share as filed with the SEC, including special dividends; obvious filing errors are hidden.
02.004.006.00
2016Fiscal year 2016: Dividend per share 2.26 USD
2017Fiscal year 2017: Dividend per share 2.48 USD
2018Fiscal year 2018: Dividend per share 3.06 USD
2019Fiscal year 2019: Dividend per share 3.70 USD
2020Fiscal year 2020: Dividend per share 3.88 USD
2021Fiscal year 2021: Dividend per share 4.29 USD
2022Fiscal year 2022: Dividend per share 5.08 USD
2023Fiscal year 2023: Dividend per share 5.20 USD
2024Fiscal year 2024: Dividend per share 5.28 USD
2025Fiscal year 2025: Dividend per share 5.44 USD
Payout ratios
The payout ratio fell in 5 years from 49.2% to 45.4%.
Payout ratio (earnings)Payout ratio (free cash flow)
0%20%40%60%80%
2016Fiscal year 2016: Payout ratio (earnings) 44.5% · Payout ratio (free cash flow) 46.7%
2017Fiscal year 2017: Payout ratio (earnings) 18.6% · Payout ratio (free cash flow) 49.6%
2018Fiscal year 2018: Payout ratio (earnings) 38.7% · Payout ratio (free cash flow) 43.8%
2019Fiscal year 2019: Payout ratio (earnings) 44.2% · Payout ratio (free cash flow) 50.4%
2020Fiscal year 2020: Payout ratio (earnings) 49.2% · Payout ratio (free cash flow) 46.8%
2021Fiscal year 2021: Payout ratio (earnings) 43.1% · Payout ratio (free cash flow) 45.9%
2022Fiscal year 2022: Payout ratio (earnings) 45.3% · Payout ratio (free cash flow) 55.0%
2023Fiscal year 2023: Payout ratio (earnings) 49.8% · Payout ratio (free cash flow) 66.5%
2024Fiscal year 2024: Payout ratio (earnings) 47.6% · Payout ratio (free cash flow) 54.5%
2025Fiscal year 2025: Payout ratio (earnings) 45.4% · Payout ratio (free cash flow) 58.8%
What goes back to shareholders
Over 5 years, 34.0B USD went back to shareholders, 54% of it through share repurchases. That is 122% of the free cash flow of those years.
2016Fiscal year 2016: Dividends paid 1.9B USD · Share repurchases 3.1B USD · New shares issued (including employee plans) not available · Free cash flow 4.0B USD
2017Fiscal year 2017: Dividends paid 2.0B USD · Share repurchases 4.0B USD · New shares issued (including employee plans) not available · Free cash flow 4.0B USD
2018Fiscal year 2018: Dividends paid 2.3B USD · Share repurchases 8.2B USD · New shares issued (including employee plans) not available · Free cash flow 5.2B USD
2019Fiscal year 2019: Dividends paid 2.6B USD · Share repurchases 5.8B USD · New shares issued (including employee plans) not available · Free cash flow 5.2B USD
2020Fiscal year 2020: Dividends paid 2.6B USD · Share repurchases 3.7B USD · New shares issued (including employee plans) not available · Free cash flow 5.6B USD
2021Fiscal year 2021: Dividends paid 2.8B USD · Share repurchases 7.3B USD · New shares issued (including employee plans) not available · Free cash flow 6.1B USD
2022Fiscal year 2022: Dividends paid 3.2B USD · Share repurchases 6.3B USD · New shares issued (including employee plans) not available · Free cash flow 5.7B USD
2023Fiscal year 2023: Dividends paid 3.2B USD · Share repurchases 705.0M USD · New shares issued (including employee plans) not available · Free cash flow 4.8B USD
2024Fiscal year 2024: Dividends paid 3.2B USD · Share repurchases 1.5B USD · New shares issued (including employee plans) not available · Free cash flow 5.9B USD
2025Fiscal year 2025: Dividends paid 3.2B USD · Share repurchases 2.7B USD · New shares issued (including employee plans) not available · Free cash flow 5.5B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.Log in
Sector comparison
Union Pacific Corporation next to 8 stocks of the sector Industrials we cover that are closest in revenue. Click a column header to sort the table.
Sector comparison UNP, sector Industrials; last row: sector median
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 90 symbols in the Industrials sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light yellow: below sector
+4.6%per year, last 5 years
Sector Industrials: median +8.0% (82 symbols)
What does this mean? Revenue: over 5 years it grew by 4.6% per year on average, but more slowly than the median company in the sector (+8.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light yellow: below sector
+5.9%per year, last 5 years
Sector Industrials: median +10.0% (66 symbols)
per share: +8.7% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 5.9% per year on average, but more slowly than the median company in the sector (+10.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
What does this mean? Of every 100 USD in revenue, 29.12 USD remained as profit – at least as much as the median company in the sector (11.1%). Five years ago the margin was 27.4%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth
Light red: much higher
1.32latest balance sheet
Sector Industrials: median 0.58 (77 symbols)
What does this mean? For every 1 USD of equity there is 1.32 USD of financial debt – more than twice as much as the median company in the sector (0.58). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth
Light green: covered
45%Dividend / earnings per share
Sector Industrials: median 35% (65 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.45 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 35%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin
Light green: profit every year
10 of 10fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
Last fiscal year and 13F
Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
24.5B USD
Revenue vs. prior year
+1.1%
Net income (FY)
7.1B USD
Net income vs. prior year
+5.8%
EPS (FY)
11.98 USD
13F funds with a position
1 of 9
Funds vs. prior quarter
−1
Shares held vs. prior quarter
+198.6%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 6, 2026 · Balance sheet Sep 30, 2026 (filed Oct 22, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term).13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
Year
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
2025
Dec 31, 2025
24.5B
7.1B
29.1%
11.98
5.44
45%
2024
Dec 31, 2024
24.3B
6.7B
27.8%
11.09
5.28
48%
2023
Dec 31, 2023
24.1B
6.4B
26.4%
10.45
5.20
50%
2022
Dec 31, 2022
24.9B
7.0B
28.1%
11.21
5.08
45%
2021
Dec 31, 2021
21.8B
6.5B
29.9%
9.95
4.29
43%
2020
Dec 31, 2020
19.5B
5.3B
27.4%
7.88
3.88
49%
2019
Dec 31, 2019
21.7B
5.9B
27.3%
8.38
3.70
44%
2018
Dec 31, 2018
22.8B
6.0B
26.1%
7.91
3.06
39%
2017
Dec 31, 2017
21.2B
10.7B
50.4%
13.36
2.48
19%
2016
Dec 31, 2016
19.9B
4.2B
21.2%
5.07
2.26
44%
Quarters (amounts in USD, per share in USD)
Quarter
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
Q3/26
Sep 30, 2026
7.2B
2.1B
28.8%
3.49
1.42
41%
Q2/26
Jun 30, 2026
6.9B
2.0B
29.0%
3.36
1.38
41%
Q1/26
Mar 31, 2026
6.2B
1.7B
27.4%
2.87
1.38
48%
Q4/25*
Dec 31, 2025
6.1B
1.8B
30.4%
–
1.38
–
Q3/25
Sep 30, 2025
6.2B
1.8B
28.6%
3.01
1.38
46%
Q2/25
Jun 30, 2025
6.2B
1.9B
30.5%
3.15
1.34
43%
Q1/25
Mar 31, 2025
6.0B
1.6B
27.0%
2.70
1.34
50%
Q4/24*
Dec 31, 2024
6.1B
1.8B
28.8%
–
1.34
–
Q3/24
Sep 30, 2024
6.1B
1.7B
27.4%
2.75
1.34
49%
Q2/24
Jun 30, 2024
6.0B
1.7B
27.9%
2.74
1.30
47%
Q1/24
Mar 31, 2024
6.0B
1.6B
27.2%
2.69
1.30
48%
Q4/23*
Dec 31, 2023
6.2B
1.7B
26.8%
–
1.30
–
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary
Mar 20, 2026Gehringer Eric JOfficerOpen-market sale1,999 shares · $469.6K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score +90
Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+15
Highs and lows+10
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)34.1
Rel. strength 60 d+1.9%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.