Union Pacific Corporation (UNP) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Railroads
EV/EBITDA
↓
14.87
+1% vs avg
5yr avg: 14.79
30Y Low5.9·High21.8
P/FCF
↓
27.73
+7% vs avg
5yr avg: 25.90
30Y Low10.4·High78.2
P/B Ratio
↓
8.26
↓-14% vs avg
5yr avg: 9.61
30Y Low1.2·High11.7
ROE
↓
40.4%
-10% vs avg
5yr avg: 45.1%
30Y Low-7%·High53%
Debt/EBITDA
↓
2.58
↓-7% vs avg
5yr avg: 2.77
30Y Low1.0·High9.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
UNP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Union Pacific Corporation trades at 21.5x earnings, roughly in line with its 5-year average of 21.4x, sitting at the 79th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a discount of 16%. On a free-cash-flow basis, the stock trades at 27.7x P/FCF, 7% above the 5-year average of 25.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $152.5B | $137.3B | $138.8B | $149.9B | $129.2B | $165.1B | $141.4B | $127.7B | $104.3B | $107.5B | $86.6B |
| Enterprise Value | $183.0B | $167.8B | $170.2B | $183.0B | $163.2B | $195.6B | $167.9B | $153.9B | $125.4B | $123.2B | $100.3B |
| P/E Ratio → | 21.46 | 19.32 | 20.56 | 23.50 | 18.47 | 25.32 | 26.42 | 21.57 | 17.48 | 10.04 | 20.45 |
| P/S Ratio | 6.22 | 5.60 | 5.72 | 6.21 | 5.19 | 7.57 | 7.24 | 5.88 | 4.57 | 5.06 | 4.34 |
| P/B Ratio | 8.26 | 7.43 | 8.22 | 10.14 | 10.62 | 11.66 | 8.34 | 7.04 | 5.11 | 4.33 | 4.35 |
| P/FCF | 27.73 | 24.97 | 23.55 | 31.40 | 22.50 | 27.09 | 25.19 | 24.76 | 19.86 | 27.06 | 21.55 |
| P/OCF | 16.42 | 14.78 | 14.85 | 17.89 | 13.80 | 18.28 | 16.56 | 14.83 | 12.00 | 14.87 | 11.51 |
P/E links to full P/E history page with 30-year chart
UNP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Union Pacific Corporation's enterprise value stands at 14.9x EBITDA, roughly in line with its 5-year average of 14.8x. The Industrials sector median is 13.8x, placing the stock at a 7% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.85 | 7.02 | 7.59 | 6.56 | 8.97 | 8.60 | 7.09 | 5.49 | 5.80 | 5.03 |
| EV / EBITDA | 14.87 | 13.63 | 14.01 | 16.00 | 13.37 | 16.94 | 16.72 | 14.29 | 11.71 | 12.12 | 10.78 |
| EV / EBIT | 18.60 | 16.02 | 16.92 | 19.12 | 15.78 | 20.31 | 20.68 | 17.49 | 14.56 | 14.75 | 13.44 |
| EV / FCF | — | 30.52 | 28.88 | 38.34 | 28.42 | 32.09 | 29.92 | 29.84 | 23.89 | 31.00 | 24.96 |
UNP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Union Pacific Corporation earns an operating margin of 40.1%, significantly above the Industrials sector average of 4.3%. Operating margins have expanded from 37.7% to 40.1% over the past 3 years, signaling improving operational efficiency. Return on equity of 40.4% is exceptionally high — well above the sector median of 8.2%. ROIC of 15.2% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.4% | 59.4% | 45.5% | 43.7% | 45.0% | 48.2% | 47.0% | 44.3% | 41.8% | 42.4% | 41.5% |
| Operating Margin | 40.1% | 40.1% | 40.1% | 37.7% | 39.9% | 42.8% | 40.1% | 39.4% | 37.3% | 38.0% | 36.5% |
| Net Profit Margin | 29.1% | 29.1% | 27.8% | 26.4% | 28.1% | 29.9% | 27.4% | 27.3% | 26.1% | 50.4% | 21.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 40.4% | 40.4% | 42.6% | 47.3% | 53.2% | 41.9% | 30.5% | 30.7% | 26.4% | 47.8% | 20.8% |
| ROA | 10.4% | 10.4% | 10.0% | 9.6% | 10.9% | 10.4% | 8.6% | 9.8% | 10.2% | 18.9% | 7.7% |
| ROIC | 15.2% | 15.2% | 15.1% | 14.5% | 16.4% | 15.9% | 13.4% | 14.9% | 15.6% | 16.3% | 16.2% |
| ROCE | 15.5% | 15.5% | 15.6% | 14.9% | 16.8% | 16.1% | 13.6% | 15.3% | 15.7% | 15.2% | 14.1% |
UNP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Union Pacific Corporation carries a Debt/EBITDA ratio of 2.6x, which is moderately leveraged (20% below the sector average of 3.2x). Net debt stands at $30.5B ($31.8B total debt minus $1.3B cash). Interest coverage of 8.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.72 | 1.72 | 1.92 | 2.31 | 2.87 | 2.22 | 1.67 | 1.49 | 1.10 | 0.68 | 0.75 |
| Debt / EBITDA | 2.58 | 2.58 | 2.67 | 2.99 | 2.86 | 2.73 | 2.82 | 2.51 | 2.09 | 1.67 | 1.61 |
| Net Debt / Equity | — | 1.65 | 1.86 | 2.24 | 2.79 | 2.16 | 1.56 | 1.45 | 1.03 | 0.63 | 0.69 |
| Net Debt / EBITDA | 2.48 | 2.48 | 2.59 | 2.90 | 2.78 | 2.64 | 2.64 | 2.43 | 1.97 | 1.54 | 1.47 |
| Debt / FCF | — | 5.55 | 5.34 | 6.94 | 5.92 | 5.01 | 4.73 | 5.08 | 4.02 | 3.94 | 3.42 |
| Interest Coverage | 8.00 | 8.00 | 7.93 | 7.14 | 8.14 | 8.33 | 7.12 | 8.38 | 9.90 | 11.61 | 10.69 |
UNP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.91x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.3B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.81x to 0.91x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.91 | 0.91 | 0.77 | 0.81 | 0.72 | 0.62 | 1.01 | 0.79 | 0.90 | 1.03 | 0.99 |
| Quick Ratio | 0.75 | 0.75 | 0.62 | 0.67 | 0.58 | 0.51 | 0.86 | 0.62 | 0.74 | 0.83 | 0.79 |
| Cash Ratio | 0.30 | 0.30 | 0.20 | 0.21 | 0.18 | 0.18 | 0.45 | 0.20 | 0.29 | 0.35 | 0.37 |
| Asset Turnover | — | 0.35 | 0.36 | 0.36 | 0.38 | 0.34 | 0.31 | 0.35 | 0.39 | 0.37 | 0.36 |
| Inventory Turnover | 12.65 | 12.65 | 17.18 | 18.29 | 18.45 | 18.18 | 16.23 | 16.10 | 17.92 | 16.33 | 16.28 |
| Days Sales Outstanding | — | 27.70 | 28.51 | 31.37 | 27.75 | 28.83 | 28.12 | 26.82 | 28.06 | 25.66 | 23.03 |
UNP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Union Pacific Corporation returns 3.9% to shareholders annually — split between a 2.1% dividend yield and 1.8% buyback yield. A payout ratio of 45.3% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.1% | 2.4% | 2.3% | 2.1% | 2.4% | 1.7% | 1.9% | 2.0% | 2.2% | 1.8% | 2.2% |
| Payout Ratio | 45.3% | 45.3% | 47.6% | 49.7% | 45.1% | 42.9% | 49.1% | 43.9% | 38.5% | 18.5% | 44.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 5.2% | 4.9% | 4.3% | 5.4% | 3.9% | 3.8% | 4.6% | 5.7% | 10.0% | 4.9% |
| FCF Yield | 3.6% | 4.0% | 4.2% | 3.2% | 4.4% | 3.7% | 4.0% | 4.0% | 5.0% | 3.7% | 4.6% |
| Buyback Yield | 1.8% | 2.0% | 1.1% | 0.5% | 4.9% | 4.4% | 2.6% | 4.5% | 7.9% | 3.7% | 3.6% |
| Total Shareholder Yield | 3.9% | 4.3% | 3.4% | 2.6% | 7.3% | 6.1% | 4.5% | 6.6% | 10.1% | 5.6% | 5.8% |
| Shares Outstanding | — | $594M | $609M | $610M | $624M | $655M | $679M | $706M | $754M | $802M | $835M |
Peer Comparison
Compare UNP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 UNPYou | $153B | 21.5 | 14.9 | 27.7 | 59.4% | 40.1% | 40.4% | 15.2% | 2.6 |
 CSX | $85B | 29.6 | 17.8 | 49.6 | 33.2% | 32.1% | 22.5% | 10.9% | 3.3 |
 NSC | $67B | 23.5 | 15.4 | 31.2 | 42.4% | 32.9% | 19.2% | 9.8% | 3.2 |
 CP | $77B | 27.0 | 17.4 | 50.5 | 52.2% | 37.2% | 8.7% | 6.0% | 3.0 |
 CNI | $69B | 21.3 | 14.1 | 29.0 | 44.9% | 38.1% | 22.1% | 11.6% | 2.6 |
 JBHT | $26B | 44.3 | 17.2 | 27.1 | 10.5% | 7.2% | 15.8% | 12.0% | 0.9 |
 ODFL | $46B | 45.8 | 26.7 | 48.2 | 32.2% | 24.8% | 23.9% | 23.6% | 0.1 |
 SAIA | $12B | 45.7 | 20.0 | 424.5 | 23.7% | 10.9% | 10.4% | 9.4% | 0.7 |
 XPO | $23B | 75.6 | 22.3 | 71.2 | 12.0% | 8.9% | 18.3% | 9.3% | 3.8 |
 WERN | $2B | -169.5 | 8.8 | — | 5.8% | 2.3% | -1.0% | 2.5% | 2.1 |
 TRN | $3B | 11.3 | 12.0 | — | 26.6% | 16.6% | 20.6% | 4.1% | 8.2 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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UNP — Frequently Asked Questions
Quick answers to the most common questions about buying UNP stock.
What is Union Pacific Corporation's P/E ratio?
Union Pacific Corporation's current P/E ratio is 21.5x. The historical average is 18.5x. This places it at the 79th percentile of its historical range.
What is Union Pacific Corporation's EV/EBITDA?
Union Pacific Corporation's current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is Union Pacific Corporation's ROE?
Union Pacific Corporation's return on equity (ROE) is 40.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.2%.
Is UNP stock overvalued?
Based on historical data, Union Pacific Corporation is trading at a P/E of 21.5x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Union Pacific Corporation's dividend yield?
Union Pacific Corporation's current dividend yield is 2.12% with a payout ratio of 45.3%.
What are Union Pacific Corporation's profit margins?
Union Pacific Corporation has 59.4% gross margin and 40.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Union Pacific Corporation have?
Union Pacific Corporation's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.