Union Pacific financials
$274.15+0.02%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.86B | $6.22B | $6.08B | $6.24B | $6.15B | $6.03B | $6.12B | $6.09B | $6.01B | $6.03B | $6.16B | $5.94B |
| Gross profit | $6.16B | $5.54B | $3.46B | $6.24B | $5.51B | $5.40B | $3.60B | $6.09B | $6.01B | $6.03B | $3.54B | $5.94B |
| Gross margin | 89.7% | 89.2% | 56.8% | 100.0% | 89.6% | 89.5% | 58.8% | 100.0% | 100.0% | 100.0% | 57.5% | 100.0% |
| Operating income | $2.76B | $2.46B | $2.40B | $2.55B | $2.52B | $2.37B | $2.52B | $2.42B | $2.40B | $2.37B | $2.41B | $2.18B |
| Net income | $1.99B | $1.70B | $1.85B | $1.79B | $1.88B | $1.63B | $1.76B | $1.67B | $1.67B | $1.64B | $1.65B | $1.53B |
| Net margin | 29.0% | 27.4% | 30.4% | 28.6% | 30.5% | 27.0% | 28.8% | 27.4% | 27.9% | 27.2% | 26.8% | 25.7% |
| Diluted EPS | $3.36 | $2.87 | $3.11 | $3.01 | $3.15 | $2.70 | $2.91 | $2.75 | $2.74 | $2.69 | $2.71 | $2.51 |
| EBITDA | $3.40B | $3.09B | $3.02B | $3.17B | $3.14B | $2.98B | $3.13B | $3.02B | $3.00B | $2.97B | $2.41B | $2.76B |
| Operating cash flow | $3.08B | $2.44B | $2.23B | $2.52B | $2.33B | $2.21B | $2.66B | $2.65B | $1.91B | $2.12B | $2.40B | $2.13B |
| Free cash flow | $2.20B | $1.50B | $1.23B | $1.57B | $1.40B | $1.30B | $1.74B | $1.82B | $1.01B | $1.32B | $1.37B | $1.15B |
| Diluted shares | 594.0M | 593.6M | 593.7M | 593.2M | 594.8M | 601.9M | 605.3M | 608.6M | 610.3M | 610.2M | 610.0M | 609.8M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.61B | $735.0M | $1.27B | $808.0M | $1.06B | $1.41B |
| Short-term investments | $500.0M | $300.0M | $250.0M | $0.00 | $0.00 | $0.00 |
| Total debt | $30.33B | $30.65B | $31.81B | $31.81B | $32.81B | $32.84B |
| Total assets | $71.21B | $69.64B | $69.70B | $68.65B | $68.58B | $68.49B |
| Total liabilities | $50.54B | $50.23B | $51.23B | $51.34B | $52.32B | $52.45B |
| Shareholders' equity | $20.67B | $19.42B | $18.47B | $17.30B | $16.26B | $16.04B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology