Union Pacific (UNP) Stock Analysis

July 23, 2026

This is a peer-relative look at Union Pacific (UNP): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Transportation peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Union Pacific (UNP)
Profile Item	UNP
Name	Union Pacific Corporation
Country/Region	United States
GICS Sector	Industrials
GICS Industry Group	Transportation
GICS Industry	Ground Transportation
GICS Sub-Industry	Rail Transportation
Market Capitalization	174.04 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 2, 1980
Security Type	Common Stock

Price Performance

Cumulative Growth

UNP

GSPC

Union Pacific (UNP) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Union Pacific (UNP) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Union Pacific (UNP) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Total Return (1Y)	32.74%	42.28%
Total Return (3Y, Annualized)	13.09%	10.91%
Total Return (5Y, Annualized)	8.61%	10.49%

Risk Profile

Drawdown History

UNP

GSPC

Union Pacific (UNP) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Union Pacific (UNP) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Volatility (1Y, Annualized)	22.48%	39.94%
Beta (5Y)	0.96	1.14
Max Drawdown (5Y)	-31.83%	-52.03%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. UNP is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Sharpe Ratio (1Y)	1.28	1.03
Sortino Ratio (1Y)	1.98	1.53

Profitability

ROE (TTM)

Union Pacific (UNP) posts ROE of 40.69%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

UNP

Transportation industry group

40.69%

Group distribution

Max: 43.37%
UNP: 40.69%
Q3: 19.94%
Median: 10.23%
Q1: 1.86%
Min: -18.53%

Largest peers

UNP: 40.69%
UBER: 35.31%
UPS: 33.35%
CSX: 23.68%
CNI: 21.85%
FDX: 14.85%
CP: 8.43%

Where Union Pacific (UNP) stands on ROE within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Union Pacific (UNP) keeps 29.20% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

UNP

Transportation industry group

29.20%

Group distribution

Max: 43.82%
UNP: 29.20%
Q3: 18.75%
Median: 5.20%
Q1: 0.62%
Min: -9.62%

Largest peers

UNP: 29.20%
CNI: 27.23%
CP: 27.21%
CSX: 21.55%
UBER: 15.91%
UPS: 5.94%
FDX: 4.68%

Where Union Pacific (UNP) stands on net margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Union Pacific (UNP) turns 40.36% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

UNP

Transportation industry group

40.36%

Group distribution

Max: 54.53%
UNP: 40.36%
Q3: 24.38%
Median: 7.26%
Q1: 1.31%
Min: -33.27%

Largest peers

UNP: 40.36%
CNI: 38.41%
CP: 37.56%
CSX: 36.16%
UBER: 14.57%
FDX: 11.13%
UPS: 6.33%

Where Union Pacific (UNP) stands on operating margin within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
ROE (TTM)	40.69%	10.23%
ROA (TTM)	9.14%	3.47%
Net Margin (TTM)	29.20%	5.20%
Operating Margin (TTM)	40.36%	7.26%
Gross Margin (TTM)	56.53%	27.62%

Growth

Revenue Growth

Union Pacific (UNP) grew revenue 1.07%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Union Pacific (UNP): Revenue Growth across different time periods, set against Transportation industry-group medians.

EPS Growth

Union Pacific (UNP) grew earnings per share 8.03%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Union Pacific (UNP): EPS Growth across different time periods, set against Transportation industry-group medians.

Growth Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Revenue Growth (YoY)	1.07%	2.11%
Revenue Growth (3Y CAGR)	-0.49%	1.62%
EPS Growth (YoY)	8.03%	-6.71%
EPS Growth (3Y CAGR)	2.24%	-7.47%

Financial Strength

Current Ratio (MRQ)

Union Pacific (UNP) has current ratio of 0.92, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

UNP

Transportation industry group

0.92

Group distribution

Max: 2.26
Q3: 1.59
Median: 1.12
UNP: 0.92
Q1: 0.78
Min: 0.30

Largest peers

FDX: 1.48
UPS: 1.21
UBER: 1.07
CSX: 0.97
UNP: 0.92
CP: 0.67
CNI: 0.67

Where Union Pacific (UNP) stands on current ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Union Pacific (UNP) has debt-to-equity ratio of 1.62, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

UNP

Transportation industry group

1.62

Group distribution

Max: 3.37
UNP: 1.62
Q3: 1.62
Median: 0.84
Q1: 0.36
Min: 0.00

Largest peers

UPS: 1.82
UNP: 1.62
CSX: 1.43
FDX: 1.36
CNI: 1.06
CP: 0.51
UBER: 0.48

Where Union Pacific (UNP) stands on debt-to-equity ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Current Ratio (MRQ)	0.92	1.12
Debt / Equity (MRQ)	1.62	0.84
Net Debt / EBITDA	2.42	2.41

Dividends

Dividend Yield (TTM)

Union Pacific (UNP) has dividend yield of 1.85%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

UNP

Transportation industry group

1.85%

Group distribution

Max: 4.23%
UNP: 1.85%
Q3: 1.79%
Median: 0.55%
Q1: 0.00%
Min: 0.00%

Largest peers

UPS: 5.80%
CNI: 2.82%
UNP: 1.85%
CSX: 1.06%
CP: 1.00%
UBER: 0.00%
FDX: 0.00%

Where Union Pacific (UNP) stands on dividend yield within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Union Pacific (UNP) has payout ratio of 45.10%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

UNP

Transportation industry group

45.10%

Group distribution

Max: 106.15%
UNP: 45.10%
Q3: 44.94%
Median: 20.02%
Q1: 0.00%
Min: 0.00%

Largest peers

UPS: 106.15%
CNI: 47.13%
UNP: 45.10%
CSX: 32.52%
FDX: 31.27%
CP: 20.36%
UBER: 0.00%

Where Union Pacific (UNP) stands on payout ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
Dividend Yield (TTM)	1.85%	0.55%
Dividend Payout Ratio (TTM)	45.10%	20.02%

Valuation

P/E Ratio (TTM)

Union Pacific (UNP) trades at P/E ratio of 24.39, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

UNP

Transportation industry group

24.39

Group distribution

Max: 94.71
Q3: 46.51
UNP: 24.39
Median: 23.58
Q1: 14.12
Min: 1.16

Largest peers

CSX: 30.80
CP: 29.03
UNP: 24.39
CNI: 23.71
UPS: 18.32
UBER: 17.93
FDX: 16.50

Where Union Pacific (UNP) stands on P/E ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Union Pacific (UNP) trades at 7.05 on P/S ratio, above the industry benchmark range. The stock is being valued at an unusually rich price per dollar of trailing revenue.

UNP

Transportation industry group

7.05

Group distribution

UNP: 7.05
Max: 4.46
Q3: 2.30
Median: 1.35
Q1: 0.62
Min: 0.07

Largest peers

UNP: 7.05
CSX: 6.55
CP: 5.40
CNI: 4.46
UBER: 2.71
UPS: 1.12
FDX: 0.79

Where Union Pacific (UNP) stands on P/S ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Union Pacific (UNP) trades at 8.96 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

UNP

Transportation industry group

8.96

Group distribution

Max: 9.10
UNP: 8.96
Q3: 4.59
Median: 2.21
Q1: 1.23
Min: -2.48

Largest peers

UNP: 8.96
CSX: 6.83
UPS: 6.09
UBER: 5.89
CNI: 5.06
CP: 2.46
FDX: 2.40

Where Union Pacific (UNP) stands on P/B ratio within its Transportation peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Union Pacific (UNP) metric values compared with Transportation industry-group medians
Metric	Current stock: UNP	Industry group median
P/E Ratio (TTM)	24.39	23.58
P/S Ratio (TTM)	7.05	1.35
P/B Ratio (MRQ)	8.96	2.21
Free Cash Flow Yield (TTM)	2.32%	2.46%