CNI vs. UNP: Canadian National Railway vs. Union Pacific Stock Comparison

June 13, 2026

This page compares Canadian National Railway (CNI) with Union Pacific (UNP) using performance and risk, profitability, financial strength, growth, dividends, and valuation metrics.

Performance

Cumulative Growth

CNI

UNP

Canadian National Railway (CNI) vs. Union Pacific (UNP): 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 Canadian National Railway (CNI) and Union Pacific (UNP). Returns over one year are annualized.

Performance at a Glance

Performance metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
1-Year Return	15.14%	23.68%

Risk

Drawdown

CNI

UNP

Canadian National Railway (CNI) vs. Union Pacific (UNP): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Risk metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
1-Year Volatility	21.94%	21.66%
Beta	0.96	0.96
3-Month Avg. Volume	1.51M	2.97M

Company Profile

Canadian National Railway (CNI) and Union Pacific (UNP) are both classified in the Rail Transportation sub-industry within the broader Ground Transportation industry, placing them in the closest GICS peer bucket.

Company profile comparison for Canadian National Railway (CNI) and Union Pacific (UNP)
Profile Item	CNI	UNP
Name	Canadian National Railway Company	Union Pacific Corporation
Country/Region	Canada	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Transportation	Transportation
GICS Industry	Ground Transportation	Ground Transportation
GICS Sub-Industry	Rail Transportation	Rail Transportation
Market Capitalization	72.17 billion USD	161.91 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 26, 1996	January 2, 1980
Security Type	Common Stock	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Both Canadian National Railway (CNI) at 21.87 and Union Pacific (UNP) at 22.43 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CNI

Transportation industry group

21.87

Max: 96.57
Q3: 48.32
Median: 23.00
CNI: 21.87
Q1: 13.51
Min: 0.00

UNP

Transportation industry group

22.43

Max: 96.57
Q3: 48.32
Median: 23.00
UNP: 22.43
Q1: 13.51
Min: 0.00

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their P/E ratio against the Transportation industry group benchmark.

Price-to-Sales Ratio (TTM)

Both look expensive on sales: Canadian National Railway (CNI) at 4.18 sits in the upper P/S ratio quartile, and Union Pacific (UNP) at 6.55 prices even higher, above its industry range.

CNI

Transportation industry group

4.18

CNI: 4.18
Max: 4.18
Q3: 2.26
Median: 1.11
Q1: 0.60
Min: 0.07

UNP

Transportation industry group

6.55

UNP: 6.55
Max: 4.18
Q3: 2.26
Median: 1.11
Q1: 0.60
Min: 0.07

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their P/S ratio against the Transportation industry group benchmark.

Price-to-Book Ratio (MRQ)

Both Canadian National Railway (CNI) at 4.68 and Union Pacific (UNP) at 8.34 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CNI

Transportation industry group

4.68

Max: 8.88
CNI: 4.68
Q3: 4.49
Median: 2.15
Q1: 1.24
Min: -2.43

UNP

Transportation industry group

8.34

Max: 8.88
UNP: 8.34
Q3: 4.49
Median: 2.15
Q1: 1.24
Min: -2.43

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their P/B ratio against the Transportation industry group benchmark.

Valuation at a Glance

Valuation metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
Price-to-Earnings Ratio (TTM)	21.87	22.43
Price-to-Sales Ratio (TTM)	4.18	6.55
Price-to-Book Ratio (MRQ)	4.68	8.34
Free Cash Flow Yield	3.60%	2.49%

Profitability

Return on Equity (TTM)

Both Canadian National Railway (CNI) at 21.85% and Union Pacific (UNP) at 40.69% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

CNI

Transportation industry group

21.85%

Max: 43.37%
CNI: 21.85%
Q3: 20.41%
Median: 10.34%
Q1: 1.88%
Min: -18.53%

UNP

Transportation industry group

40.69%

Max: 43.37%
UNP: 40.69%
Q3: 20.41%
Median: 10.34%
Q1: 1.88%
Min: -18.53%

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their ROE against the Transportation industry group benchmark.

Net Profit Margin (TTM)

For every dollar of sales, both Canadian National Railway (CNI) at 27.23% and Union Pacific (UNP) at 29.20% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

CNI

Transportation industry group

27.23%

Max: 43.82%
CNI: 27.23%
Q3: 19.14%
Median: 5.11%
Q1: 0.86%
Min: -9.62%

UNP

Transportation industry group

29.20%

Max: 43.82%
UNP: 29.20%
Q3: 19.14%
Median: 5.11%
Q1: 0.86%
Min: -9.62%

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their net margin against the Transportation industry group benchmark.

Operating Profit Margin (TTM)

Both Canadian National Railway (CNI) at 38.41% and Union Pacific (UNP) at 40.36% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

CNI

Transportation industry group

38.41%

Max: 54.53%
CNI: 38.41%
Q3: 24.85%
Median: 6.34%
Q1: 1.12%
Min: -33.27%

UNP

Transportation industry group

40.36%

Max: 54.53%
UNP: 40.36%
Q3: 24.85%
Median: 6.34%
Q1: 1.12%
Min: -33.27%

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their operating margin against the Transportation industry group benchmark.

Profitability at a Glance

Profitability metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
Return on Equity (TTM)	21.85%	40.69%
Return on Assets (TTM)	7.56%	9.14%
Net Profit Margin (TTM)	27.23%	29.20%
Operating Profit Margin (TTM)	38.41%	40.36%
Gross Profit Margin (TTM)	56.66%	56.53%

Growth

Revenue Growth

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their Revenue Growth across different time periods.

Revenue Growth at a Glance

Revenue growth metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
1-Year Revenue Growth	1.51%	1.07%
3-Year Revenue CAGR	0.38%	-0.49%

EPS Growth

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their EPS Growth across different time periods.

EPS Growth at a Glance

EPS growth metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
1-Year EPS Growth	7.99%	8.03%
3-Year EPS CAGR	0.58%	2.24%

Financial Strength

Current Ratio (MRQ)

Union Pacific (UNP) at 0.92 keeps current ratio within its industry’s typical mid-range, while Canadian National Railway (CNI) at 0.67 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CNI.

CNI

Transportation industry group

0.67

Max: 2.26
Q3: 1.61
Median: 1.16
Q1: 0.84
CNI: 0.67
Min: 0.42

UNP

Transportation industry group

0.92

Max: 2.26
Q3: 1.61
Median: 1.16
UNP: 0.92
Q1: 0.84
Min: 0.42

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their current ratio against the Transportation industry group benchmark.

Debt-to-Equity Ratio (MRQ)

Both Canadian National Railway (CNI) at 1.06 and Union Pacific (UNP) at 1.62 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNI

Transportation industry group

1.06

Max: 3.37
Q3: 1.64
CNI: 1.06
Median: 0.80
Q1: 0.36
Min: 0.00

UNP

Transportation industry group

1.62

Max: 3.37
Q3: 1.64
UNP: 1.62
Median: 0.80
Q1: 0.36
Min: 0.00

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their debt-to-equity ratio against the Transportation industry group benchmark.

Financial Strength at a Glance

Financial strength metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
Current Ratio (MRQ)	0.67	0.92
Debt-to-Equity Ratio (MRQ)	1.06	1.62
Net Debt / EBITDA	2.45	2.42

Dividends

Dividend Yield (TTM)

Both Canadian National Railway (CNI) at 2.21% and Union Pacific (UNP) at 2.02% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CNI

Transportation industry group

2.21%

Max: 6.07%
Q3: 2.46%
CNI: 2.21%
Median: 0.94%
Q1: 0.00%
Min: 0.00%

UNP

Transportation industry group

2.02%

Max: 6.07%
Q3: 2.46%
UNP: 2.02%
Median: 0.94%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their dividend yield against the Transportation industry group benchmark.

Dividend Payout Ratio (TTM)

Union Pacific (UNP) at 45.10% pays out a band-typical share of earnings, while Canadian National Railway (CNI) at 47.13% distributes more than its industry norm — less retained, thinner cover.

CNI

Transportation industry group

47.13%

Max: 106.15%
CNI: 47.13%
Q3: 45.72%
Median: 20.46%
Q1: 0.00%
Min: 0.00%

UNP

Transportation industry group

45.10%

Max: 106.15%
Q3: 45.72%
UNP: 45.10%
Median: 20.46%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. Union Pacific (UNP): A comparison of their payout ratio against the Transportation industry group benchmark.

Dividends at a Glance

Dividend metrics for Canadian National Railway (CNI) and Union Pacific (UNP)
Metric	CNI	UNP
Dividend Yield (TTM)	2.21%	2.02%
Dividend Payout Ratio (TTM)	47.13%	45.10%